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Bitcoin capable of phasing out the fed?

Federal Reserve End the Fed Bitcoin solution competition

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37 replies to this topic

#36
vivosmith

vivosmith
  • 31 posts

First, the fluctuating nature of the price of bitcoins on account of the dollar makes both bitcoin and gold look kinda weak as far as value wise. And second, bitcoin needs its own market eco system. Once you can get paid in bitcoins , then that is when it will supplant the dollar (and I mean like for everyday wages, not just niches). And third, there needs to be more resistant agorism. If the two largest "employers" (silk road and freedom host) can be taken down as easily as they were (and if the founder of Silk Road can be taken down with as little evidence as they have given (which I question), then I worry for our 1984 like future), then we seriously need to find a solution to this. 


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#37
ribuck

ribuck
  • 1376 posts

...It would be like hidding 3.5 floppies and my kids kid finding them only to be told...O yeah about that, that technology was phased 100 years ago...you didn't get the memo?

 

Your analogy is not applicable to Bitcoin.

 

Analog formats like floppy disks can easily become obsolete because specialized hardware is needed to read them. Digital data can easily be moved between different types of storage media which have straightforward interface specifications. And all the software required to process Bitcoin is open source, so it will always be possible to process a Bitcoin wallet.


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#38
Wesley

Wesley

    Self-Excavator

  • 1412 posts

I thought I would add it here in case anyone wanted to get some info on the basics of bitcoin.

 

I started a thread about it: http://board.freedom...etting-started/


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Also tagged with one or more of these keywords: Federal Reserve, End the Fed, Bitcoin, solution, competition