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Old 05-16-2011, 06:11 PM   #25
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Originally Posted by Star*Child View Post
Basically you are trading "huge magic numbers". Since there are only a limited number of "solutions/coins" that fit the definition parameters, there is a potential market surrounding it. As long as enough people agree upon the value, this has potential to impact the use of regular currency.
-How/Why would people agree on the value?
-If you use these to purchase a good or does that in any way help the one providing it? A company can't pay their employees in bitcoins, they can't pay their bills in unless some massive shift takes place, it is essentially an online-only barter system.

This is dangerous because it threatens the power base of the people who REALLY pull the strings. Every day, a group of people are making money off of each and every transaction taking place. This system seeks to impact that by creating a "cash" system for the future.
-You don't think someone will come along and undermine this new system?
-You still didn't answer how this threatens that power base. The simple existence of another type of trade or currency does not threaten the rich. When Amazon started issuing 'amazon money' cards...did the wealthy of the world start peeing their pants?

It's bit-torrent for money. There is no way to freeze accounts or stop the flow. I can give you something of value to someone on the other side of the planet with no one in between to monitor where it either side of the transaction took place or the real locations or identities of either party.
So it's like money. You realize that cash is peer-to-peer, right? And you can transfer it electronically? Or you can hand it to someone? Or mail it? Fedex?

There are people in actual legitimate (and otherwise) professions, whose whole job every day is to move money electronically from one account to another.

This is pretty huge.

I don't see at all how this is huge. In fact, I'm wondering how this is any different from money in a game like WoW...except that you can buy and sell WoW money for actual cash.

It seems like the whole 'hugeness' of this whole thing is the hugeness of the assumptions that this is going to become a massively popular thing where people will be buying and selling actual goods and services using Bitcoin.
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