Prison May Be the Next Stop on a Gold Currency Journey
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Re: Prison May Be the Next Stop on a Gold Currency Journey
#2This article, and the concept of Liberty Dollar are interesting to compare with BitCoin.
Whereas the head of the created currency is looking at hard prison time (20 yrs), there is no real one entity involved in BTC.
My next question: will BTC be popular or threatening enough that the US treasury take hold and launch lawsuits on counterfeiting as they did in the Liberty Dollar case? And if so, how might they go about it?
Re: Prison May Be the Next Stop on a Gold Currency Journey
#3Gold backed currency is overrated
If you disagree with me you can go and convert your savings into gold (but you are probably doing it already)
Remember, you still need US dollars to buy oil.
Re: Prison May Be the Next Stop on a Gold Currency Journey
#4Whatever asshole compared this guy to Rosa Parks needs to get some perspective.
Re: Prison May Be the Next Stop on a Gold Currency Journey
#5I feel sorry for people whose parents force eccentric names upon them. Random and Xtra? Really?
Re: Prison May Be the Next Stop on a Gold Currency Journey
#6"All the perplexities, confusion and distresses in America arise not from defects in
the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation."
- John Adams in a letter to Thomas Jefferson
Re: Prison May Be the Next Stop on a Gold Currency Journey
#7This article, and the concept of Liberty Dollar are interesting to compare with BitCoin. Whereas the head of the created currency is looking at hard prison time (20 yrs), there is no real one entity involved in BTC. My next question: will BTC be popular or threatening enough that the US treasury take hold and launch lawsuits on counterfeiting as they did in the Liberty Dollar case? And if so, how might they go about…
No, they'll go after the exchanges and, failing that, users of the currency.
I think any assault on Bitcoin would have a lot more in common with the tactics of the copyright cartels, than this. The decentralized nature of peer-to-peer sharing and Bitcoin is more relevant than the fact that the Liberty Dollar and Bitcoin are both 'currencies' depending on who you talk to. Numerous lawsuits, harsh penalties bordering on unconstitutional (not that it really matters), and selective media exposure of same.
Re: Prison May Be the Next Stop on a Gold Currency Journey
#8Gold backed currency is overrated If you disagree with me you can go and convert your savings into gold (but you are probably doing it already) Remember, you still need US dollars to buy oil. http://en.wikipedia.org/wiki/Petrodollar
> Remember, you still need US dollars to buy oil.
Good thing, then, that gold is very easy to convert into US dollars.
"the fluctuating value of the dollar makes it very hard to gauge whether oil prices themselves are rising or falling… Oil today at 2 grams, is about the same as it was in the early 1950s; but if you measure the price in US dollars, you would get the impression that it is about 30 times more expensive today!"
Re: Prison May Be the Next Stop on a Gold Currency Journey
#9Gold backed currency is overrated If you disagree with me you can go and convert your savings into gold (but you are probably doing it already) Remember, you still need US dollars to buy oil. http://en.wikipedia.org/wiki/Petrodollar
This whole "you need US dollar to buy oil" is a silly argument. You need US dollars to buy ipods too. Luckily money is fungible.
Re: Prison May Be the Next Stop on a Gold Currency Journey
#10Whatever asshole compared this guy to Rosa Parks needs to get some perspective.
Downvoted, eh? Yeah I suppose we can compare the struggle of an entire race to break free from systemic and institutional oppression and exploitation, to a bunch of illiterate college students playing at economics.