Bitcoin is worth more than silver!

DNA for one. Silver is another, yet it has a lot of uses (unlike gold). Meteorites. and many others.

bitcoin is about to break $30.

silver is dropping...

Mining is totally out of the question unless you have access to a room full of computers with modern graphics cards.

Buying btc appears to be a purely speculatory investment.

You cant seem to earn enough via websites.

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It comes down to this, would you rather spend 30 dollars on an ounce of silver you can hold in your hand and trade face to face.

or

1.0 btc that is an encrypted digital currency you can trade across international borders, providing you have access to facilities that support the transfer.



Personally speaking if i had the choice right now between 100 ounces of silver or 100 btc id take the silver.

uh, not exactly. Just because the power goes out, they are still there. You just can't trade them without power, and even that is not totally accurate, because you can have physical bitcoins and wallets, too.

Same as stocks, credit cards, etc.

1 Bitcoin = $28.5
1 oz of Silver = $28.4

Bitcoin has passed silver. Next target: gold.

1 Bitcoin = $49 as of today

I have so many Crsico's? Is that enough to have a bitcoin?

You can't eat bitcoin.

That should read:

1 Bitcoin = $29.5
1 oz of Silver = $29.4

You can use bitcoins on SilkRoad but I dont know how =(

you mean a free market?

hmmmmmmmmmm

That should read:

1 Bitcoin = $29.5
1 oz of Silver = $29.4

uh, not exactly. Just because the power goes out, they are still there. You just can't trade them without power, and even that is not totally accurate, because you can have physical bitcoins and wallets, too.

Same as stocks, credit cards, etc.

On that note I had wanted to post to your epic thread here since today Alex {B}ones had Max Keiser on and they were having a little discussion about botcoins.

Did you hear the discussion?

Alex {B}ones' position was that they are risky and might be honeypottish. Max Keiser's position is that they are "the spear to defeat the Federal Reserve Bank", he called them (or more directly he called the psuedonym who is the inventor of botcoins) the cyber-messiah. HAHA

But in the midst of all the static, Alex {B}ones said "they might be a good investment for political intentions" or something to that effect. I thought I would bump that moment, because Alex {B}ones is right. If I do buy some botcoins, I will give it maybe 10% odds they end up worth less or about the same as I pay for them now. HOWEVER at this point, since every transaction in the bitcoin network is 100% recorded (that's the nature of the coin-chain), I probably wont use them, but rather, buy them as a sort of political gamble on the future. So it would be like an heirloom purchase ya know?

As I have mentioned, the NSA has a complete vacuum cleaner hooked up to the web, so at their leisure, so I certainly can't see myself buying LSD on silk road with them, though I do appreciate LSD and feel it should be freely available. I will probably just buy a couple and hold them kinda like lottery tickets. In the end, though the buyers who use botcoins are "anon", the sellers are not. That is to say, if coin #XXXXXXX is spent at 12:01 on 5/5/15, the Internet Vacuum knows that the event went down, and coin #XXXXXXX records in its very bones, that the sale went down. So from a triangulation perspective, its not hard to figure out how to game the system from the "top o' the pyramid" if you catch my meaning.

The other weakness I figured I'd mention in your epic thread here, is this: Botcoins presume (semi logically), that any debaucher would just play along. They assume that since let's say botcoins go to 1000 dollars each, and you own 10,000 of them, well, there's more money in promoting the good nodes, that is to say, botcoin by its nature uses all the good nodes, to "race" the bad nodes, and since there's potentially megabucks in being a good node, then they presume that bad nodes will always lose. ...That's true, except if botcoins are actually as dangerous to the PTB as Max Keiser says they are. If they are actually a weapon, as he spouts off about, then the obverse is true: Namely that it would be worth billions of dollars LOST, to defeat the network. This is something which nobody has gotten around to discussing yet.

If I were at risk of losing some ### billions of dollars, and if I had unlimited supercomputers or a botnet (means: viruses that secretly use 1000s of sleeping computers powers), then it might be worth the effort to slowly build a secret debauch into the botcoin chain. I have only given the matter cursory though, but I know its possible. It would have to involve not just mining nodes that are flippable at the right moment (meaning they all flip to bad nodes at the right time) it would also have to involve bad merchants, which I would have to control. However, the question raised, gets back to my earlier posts...

...Because its all about BLACK MARKETS which are at the center of botcoins. Meaning that if one was to game the botcoin system, and set up ninja evil nodes to sleep until wakened, and simultaneously set up fake drug selling and [insert black market material here] websites selling material, well, those merchant nodes could flip on the right dime, and sell out every botcoiner that ever bought something. Sure, the customer is only identified by coin #XXXXXXX on date XX/XX/XXXX but see, every coin has an owner, and so just as they might do house to house searches for gold and silver, they might also have a geek squad attachment who searches for botcoins. This is why if I buy any, I can't see myself using them. I'll pay for hookers the old fashioned way. HAHA, just kidding, I'm too poor for hookers. ;)