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Paypal Bans Usenet Providers Over Piracy Concerns

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#16 PhilTheThrill

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Posted 22 November 2012 - 02:07

Well, the dollar is backed by Barack Obama. The bitcoin is backed by some guy living in a basement.


Is there a difference I'm missing?

You reckon if the USD failed Barack Obama would personally guarantee your deposit?

There are a few things that have actual value. Things like gold, silver...


#17 Enron

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Posted 22 November 2012 - 02:15

Is there a difference I'm missing?

You reckon if the USD failed Barack Obama would personally guarantee your deposit?

There are a few things that have actual value. Things like gold, silver...


The USA has tanks and planes and stuff to make sure we take over Canada or something if our demise is imminent. Bitcoins can't do anything.

#18 articuno1au

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Posted 22 November 2012 - 02:23

Showing an ungodly lack of understanding of the idea of floating currencies.

Seriously. It's worth what people think it's worth.

That's why your currency goes up and down on a daily basis. It's not that your country gets more or less gold, it's driven by consumer confidence and demand (or lack there of) counter balanced by availability.

Bitcoins are worth money so long as their is a demand for them, so long as people think there is a demand for them or until governments start trying to legislate against it :\

#19 PhilTheThrill

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Posted 22 November 2012 - 02:29

The USA has tanks and planes and stuff to make sure we take over Canada or something if our demise is imminent. Bitcoins can't do anything.


Doubt your capitalist loving pilots would fly without pay tbh. Nice dream for you to have though.

#20 Motoko.

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Posted 22 November 2012 - 02:29

I'm glad I'm not the only one despising their business model.

#21 PhilTheThrill

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Posted 22 November 2012 - 02:36

Showing an ungodly lack of understanding of the idea of floating currencies.

Seriously. It's worth what people think it's worth.

That's why your currency goes up and down on a daily basis. It's not that your country gets more or less gold, it's driven by consumer confidence and demand (or lack there of) counter balanced by availability.

Bitcoins are worth money so long as their is a demand for them, so long as people think there is a demand for them or until governments start trying to legislate against it :\


Indeed. The point however is that it's actually worth **** in the event of a catastrophe or financial crash. Having Coolboy Obama "backing" it is also worth a **** in the wind. Money is essentially faking it. A promise not a guarantee.

Some things however, at their base, do have a value.

Not that it would probably matter much, but if the government/society was destroyed by war/natural disaster/financial meltdown - the guy with $1,000,000 in "money" at the Bank or the guy with some gold bars under his bed. Who do you want to be?

#22 JaredFrost

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Posted 22 November 2012 - 03:04

They'd better ban eBay transactions, there are actual fake goods on that site, which takes actual real money from the makers of those brands by tricking legitimate consumers into purchasing those fake goods.

That has more grounds than piracy of digital goods, since people are knowingly downloading it to either try before they buy, or have ZERO intention of purchasing in the first place.

#23 Enron

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Posted 22 November 2012 - 13:02

Indeed. The point however is that it's actually worth **** in the event of a catastrophe or financial crash. Having Coolboy Obama "backing" it is also worth a **** in the wind. Money is essentially faking it. A promise not a guarantee.

Some things however, at their base, do have a value.

Not that it would probably matter much, but if the government/society was destroyed by war/natural disaster/financial meltdown - the guy with $1,000,000 in "money" at the Bank or the guy with some gold bars under his bed. Who do you want to be?


Neither. The guy with gold bars under his bed is going to get beat up by looters and have his gold stolen from him. The guy with $1,000,000 is dumb for not diversifying his assets.



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