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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: frankw1900 who wrote (23135)	4/29/2013 3:27:08 PM
From: ahhaha	Read Replies (1) \| Respond to of 24758

BoCan is intensely developing virtual currency, I guarantee it. The guy's operating from his FUD generator. Shut down the internet,maybe? I pointed that out long ago. Can't control it except make it illegal as in direct tender. Literally, what happened to gold. Virtual currency's added value doesn't come from final transaction. Have to go to the local currency for that and that puts the holder of virtual back in the hands of CB. It sends in the US Army. Is there such an army? Non joke countries don't have to care about bitcoin-like currencies. Folk have to pay taxes in the local currency. Yes, both retail and taxing considerations relegate that guy's opinion to the junk pile. Quo vadis? Is there some angle to virtual that can be exploited? I'm working on it.

To: frankw1900 who wrote (23135)	4/29/2013 7:37:18 PM
From: ahhaha	Read Replies (1) \| Respond to of 24758

Jon Mantonis, Forbes, April 12, 2013 BoCanada's Mintchip ... According to bitcoin analyst Vitalik Buterin, “It even has a few advantages over Bitcoin; secure transactions are instant, it’s backed by the Canadian dollar and it even manages to solve the double spending problem without connecting to the internet.” Cautiously however, Vitalik goes on to say: There are other aspects of the system that Bitcoin users are likely to object to. The currency creation model is centralized: value is originally injected into the system by the Royal Canadian Mint and customers can purchase value to spend by going through trusted brokers. The system is designed to be able to force upgrades, giving the Mint the power to introduce onerous tracking features over time if it so desires. Innovative means of value storage like paper and brain wallets are out of the question, since nothing can be done without the physical chip, and it’s impossible to have an online wallet that does not require trusting the provider. Wow! That’s a litany of show-stopping issues to be vigilant about — not to mention the potential fallibility of the proprietary hardware and the sure-to-come AML (Anti-money laundering) provisions or arbitrary transaction size limitations. I get the feeling that MintChip might be better off if it processed in bitcoin units rather than Canadian dollar units but that would be redundant. Ironically, one of the leading ideas for the use of MintChip in the MintChip Challenge is to purchase bitcoin with it since it’s irreversible. My objection still lies with the fact that it is a non-free-market approach to the payments issue. Bitcoin has so far demonstrated its exchange value without being backed by anything that isn’t backed by anything. Remove the standing armies and all money is essentially a mass illusion. Bitcoin just happens to be a voluntary, bottom-up mass illusion with scarcity, like gold. If the integrated circuit chip is not hacked first, I can imagine a prestigious future gathering in the beautiful resort city of Victoria, British Columbia (similar to Jekyll Island in 1910) where the Royal Canadian Mint officials and the Government of Canada carve up the country into 12 MintChip Reserve Districts and bestow the privileged monopoly of issuance to their well-connected financier amigos. May the odds be forever in your favor. Remove the standing armies and all money is essentially a mass illusion. Not true for gold. Bitcoin just happens to be a voluntary, bottom-up mass illusion with scarcity, like gold. Mass illusion? Scarcity has little or nothing(if one isn't speculating on conversion) to do with it assuming we accept scarcity as informally definable. As soon as one starts thinking in terms of quantitative definition of money one goes astray. This author does not understand virtual currency. Gold is not priced based on its scarcity. Gold price fell significantly across the decades of the '80s and '90s. Was it getting less scarce? Gold has a high cost to produce? Nothing to do with scarcity. Very difficult to get away from all these societally induced falsities. Virtual currency is more efficient for people, and that's why it will prevail, Maria.