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Art-of-kNOw — We accept Bitcoin?
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Published: 2015-03-24 00:17:51 +0000 UTC; Views: 1765; Favourites: 11; Downloads: 57
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Do you accept Bitcoin? You should. Let people know that you do, with this image. Or buy a print and add some appeal to your website, or wallpaper today.If you don't use Bitcoin and want to, its easy to get started. Download a wallet here:
bitcoin.org/en/choose-your-wal…
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Comments: 17
No bit coin, but I am willing to find a way to accept precious metal coins as payment.
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Maybe you can find some actual gold backed money. I think their are some people like Peter Schiff that have some kind of gold back notes. I'll have to look into it.
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Using actual precious metal coins can be problematic due to their high value. Buying a gallon of milk, even with silver coin, is tough. Maybe we need paper money with threads of the metals woven into the bills. It's the only way for money to be truly "Gold Backed".
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That's a good idea. I personalty think we need "real" competition in currency. Let free choice dictate what people want to use a money. Lift the regulations that prevent people from using sound money. End the money monopolies. I think if we can do that, stable/sound money will rise to the top (coins, bitcoin , or whatever) because everybody will want to use it and protect themselves from the inflation tax. Or income taxes, or any of the other thousands of taxes.
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Think it over. It might be worth it.
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bitcoin.org/en/faq#what-is-bit…
So what's the difference between the current paper money that is backed by imaginary numbers and Bitcoins that are backed by imaginary digital numbers?
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Nothing, other than who controls the numbers. Bitcoin can't be inflated away by banks. essentially, it's decentralized stable currency. Not to say that their isn't volatility, current limitations and risks associated with bit coin. It gives you, the owner, the control.
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I dunno. . .its just that my laizze faire/monopoly/price-gouging/fraud alarms are going off. At least in the Real World and for someone who lives in a Free-Market/Capitalist country(well the US is supposed to be anyway!) the first is frowned upon and the other three are illegal. Is the economic model of Bitcoins based on Free Market/Capitalism or is it laissez faire(1). How easy is it for a company to create a monopoly? If price-gouging or fraud is happening with an online retailer will real life laws apply?
(1) For those who don't know, laissez faire is basically 'no rules/no limits' with how businesses conduct themselves ethically, legally, and morally.
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There is no perfect system of money and all systems have risk. However, bitcoin offers an alternative to the central bank's monopoly over inflation and deflation, regulations and taxes. The US Dollar has lost upwards of 98% of it's value since 1913. And if currency is a reflection of an economic system, (and it is) that means that only 2% of that original currency is laizze faire/freemarket. Because the rest has been stolen and redistributed through fractional reserve loans, (money printing), welfare, subsidies, corporate subsidies, taxes, ect ect. Essentially it's 98% blood money because it's based on 98% theft.
The crony companies already have a form of monopoly over prices. The biggest being the banks and government. And because the crony businesses already have a monopoly, they "are" the government and the government is the big companies. The rules and regulation only serve those big businesses by putting the little guys "out" of business. The regulations/protectionist law are how they got the monopoly in the first place. Bitcoin is unregulated, untaxed, and free of the evil croney capitalists.
Now, being a "Little Guy" (small business) myself, who is trying to compete, the real question is: do I want those laws to apply to bitcoin?
No.
Business "reputation" and "supply and demand" will do a far better job of punishing price gauging and fraud than the government. The "big guys" have no incentive to not commit fraud, because all the other businesses that can compete have been priced out of the market by the government.
Thanks for your comment. Let me know if that didn't answer your question.
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Except paper money has monetary value because it's backed by precious metals. What is it that gives a Bitcoin any value?
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Paper money hasn't been backed by gold since FDR and hasn't been backed up by silver since Nixon. The US dollar is "kind of" backed up by oil, however. As long as the USA can continue to "force" people to use the petrol-dollar, through fear and war throughout the world, the dollar will have added power/Value. But for how long? In addition, you can't trade in our US Treasury-Notes for oil, so it's kind of just an illusion.
What gives bitcoin value is its unprintability. It's stable against inflation. Paper money is being printed out of existence by the FED and private banks. Holding some bitcoin, or silver is also a good hedge against the inflation tax or a possible dollar collapse. Bitcoin has added value over physical Silver because you can actual spend it at select retailers/businesses on line.
If your curious about alternative money like gold and silver, "that has inherent value", check out this guys videos, they are very easy to understand and informative.
www.youtube.com/watch?v=iFDe5k…
Thanks for your comment.
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