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  • Here comes 'the solution' - cashless?

    Seriously, this is really amazing, to me.

    http://www.cnbc.com/id/100597242

    They won't make a sound no matter how many of them you try to toss in a bucket, and you can't pitch them in a fountain and wish for good luck. But make no mistake, bitcoins are getting big.

    The online alternative currency, previously little more than a curiosity in financial markets since its 2009 inception, has zoomed in trading value since the Cyprus banking crisis erupted two weeks ago.

    With fears spreading that even insured deposits might not be safe in similar nations hit by banking crises, those looking for a haven to store their wealth have fled to the complicated world of digital cash.

  • #2
    Re: Here comes 'the solution' - cashless?

    With fears spreading that even insured deposits might not be safe in similar nations hit by banking crises, those looking for a haven to store their wealth have fled to the complicated world of digital cash.
    Isn't it amazing? I'm thinking that banking has grown larger than what it should be even more than government has grown more than it should be.

    In the past, my analogy has been, concerning government, that if government were bounded by the Constitution, it would be the size of a walnut but instead, is the size of a gymnasium.

    Banking, originally, was simply a safe place to store valuables .. usually money. It was EXTREMELY local. The banker received a VERY small percent of what was in his safekeeping for his trouble/living.

    Think empires; past and present. Mankind cannot keep things simple or small. Everything he does (the "world") has to always be more and more and bigger and bigger and more complicated ... beyond complicated.

    Issachar
    The church is on Earth to save souls from a lost world, not to save the world from lost souls.

    Man learns about history, not from history. To learn from history requires wisdom. Cut off from God, he has none, so history repeats; no new thing under the sun.

    I saw ten thousand talkers whose tongues were all broken - dylan

    Psalms 122:8 For my brethren and companions' sakes, I will now say, Peace be within thee.

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    • #3
      Re: Here comes 'the solution' - cashless?

      Yet for a time God will allow this system, and it's leader, to have a measure of success...or so the illusion will be. The blind will blindly think they finally have the answer to utopia.

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      • #4
        Re: Here comes 'the solution' - cashless?

        I just searched digital banking 666 out of curiosity...almost every number you need to call as you go from page to page has a 666 in it

        http://www.google.ca/#hl=en&sclient=...w=1024&bih=599

        Just trivia!

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        • #5
          Re: Here comes 'the solution' - cashless?

          The thing that caught my eye was the last parapraph:
          "Right now it seems safe. Personally it wouldn't be my preferred vehicle to trade money because it's unregulated," Vecchio said. "But people are deeming it legitimate even though it's not backed by a sovereign. That could be the attraction behind it. There's no sovereign credit risks to bitcoins."
          Not backed by a sovereign. Mmmm, so who backs it?

          Well, on the http://bitcoin.org/en/ home page, it states:
          Bitcoin uses peer to peer technology to operate with no central authority; managing transactions and issuing Bitcoins are carried out collectively by the network. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment systems.
          Note: The bold print above is not my emphasis, it's theirs. So, ownership is referred to as a collective network. Belong to the network, and no problem. Of course, that begs the question, who owns the network? Well, I can think of one candidate.
          Last edited by Shibboleth; 03-29-2013, 06:12 PM. Reason: Fix link to bitcoin

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          • #6
            Re: Here comes 'the solution' - cashless?

            On YouTube this video had 1,794,317 views at the time I hit it.






            Makes perfect sense. Can't be frozen, extremely low fees, etc. I love BTC!

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            • #7
              Re: Here comes 'the solution' - cashless?

              WOW! We just started watching this!

              http://www.foxnews.com/tech/2013/03/...cies-in-value/

              I realize the 20 countries are tiny, insignificant nations...for now. But the fact this is making international news agencies such as Fox is going to raise awareness of it, IMHO. And because it seems so much "safer" than any bank-driven system...

              This and the N. Korea "War" hit my attention at the same time.

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              • #8
                Re: Here comes 'the solution' - cashless?

                Weird, but I can see why this works.
                But "Brother Can You Spare A Bitcoin" just doesn't have the same ring.

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                • #9
                  Re: Here comes 'the solution' - cashless?

                  Originally posted by gregstien View Post
                  Weird, but I can see why this works.
                  But "Brother Can You Spare A Bitcoin" just doesn't have the same ring.
                  Lol....however..."Brother can you spare a bit" has a catchy kinda ring to it. Especially when you consider they have gone from $0.05 to appx $88.00 per bit since July of 2010.

                  The price of one bitcoin has popped 87% since Cyprus began discussing tapping deposits as part of the bailout by the EU and IMF. Bitcoins now trade at $88 each, up from $47 on March 16, 2013, according to data from Mt. Gox, the currency's main trading exchange. That compares with just 5 cents per bitcoin in mid-July 2010, when Mt. Gox first started tracking prices.
                  Source - http://money.cnn.com/2013/03/28/inve...itcoin-cyprus/

                  Then you have this:

                  'Funny money' has officially entered the real world

                  While one of the big draws of virtual currencies is that they're independent and generally sheltered from the government's watch, the new rules are unlikely to ruin their allure. If anything, they effectively pull the currencies offline and into the mainstream world of finance, making them infinitely more valuable......

                  ......In 2011, the American Bankers Association asked the Consumer Financial Protection Bureau to apply consumer financial protection laws uniformly, regardless of whether it's a traditional bank or nonbank payment providers. The fact that bankers are watching online money signals they have potential to help or destroy all that exists in the real world.
                  So, the "powers that be" are calling this "Funny Money". What's the saying about "people who live in glass houses? So, the powers "that be" are watching the powers that "want to be". It may be just me, but it does seems that players are lining up to offer the "one" solution to all the problems that come with fiat economies.

                  Then again, there is just One solution, just not the one that the world is looking for. And, in the spirit of the day, it's worth noting that no matter how much the world wants to deny it, "He has risen. He has risen indeed".
                  Last edited by Shibboleth; 03-31-2013, 11:58 AM. Reason: spelling

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                  • #10
                    Re: Here comes 'the solution' - cashless?

                    I sure have a distinct feeling that this is 'it'...will be the system that replaces all worldwide currencies and will eventually be used as the single-world monetary system which will be controlled by a godless man.

                    Almost surreal watching these things take shape.

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                    • #11
                      Re: Here comes 'the solution' - cashless?

                      Wikipedia info on Bitcoin

                      http://en.wikipedia.org/wiki/Bitcoin

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                      • #12
                        Re: Here comes 'the solution' - cashless?

                        Originally posted by cnav View Post
                        Wikipedia info on Bitcoin

                        http://en.wikipedia.org/wiki/Bitcoin

                        Whoa. Now that is a technical read. Someone has really put a lot of thought into all this.

                        I had to pause and ponder the statement that its not a fiat currency because it "has no centralized issuing authority". I've got to think about that.

                        I also found it interesting that you can get a physical bitcoin. https://www.casascius.com/

                        Anyone know what "casascius" means or where that name could have come from?

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                        • #13
                          Re: Here comes 'the solution' - cashless?

                          Don't know if this helps
                          https://en.bitcoin.it/wiki/Casascius_Bitcoin_POS_system

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                          • #14
                            Re: Here comes 'the solution' - cashless?

                            Originally posted by Andy View Post
                            I was wondering if Casascius was an acronym for something, or an anagram, or initials...I guess I'm asking what does the word mean or stand for. Using the google tranlator, Casa is Spanish for house/home where as scuis is Latin for discerning. From that I would say it's something like the "house discerns" the value...but, I really don't know. Or in context of "no centralized authority", it could just as easily mean no one can "discern the house". Just curious.
                            Last edited by Shibboleth; 03-31-2013, 07:51 PM.

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                            • #15
                              Re: Here comes 'the solution' - cashless?

                              I have a question, do you really believe that America is going to collapse soon? Why I am asking this is many, and I mean many are starting to move to other countries. This one brother, and his wife, who is the leader of a very popular Christian website, just moved to costa rica? and many more like him. I usually watch things very carefully, and I see a lot happening, but in your opinion, do you think we are close to a collapse?

                              Thank you!!

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