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ranbotrader
Member since May 2012
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More Dirt on the Bitcoin

- Hugo Salinas Price - Plata.com

What a dumb dumb article. Is this for real?
Both gold and bitcoin are of course not 'money' even though they may be substituted for same. In the end it comes down to the other side of the transaction and what is acceptable. It could be a wife, two goats and bottle of booze being an acceptable payment.
The real problem with bitcoin is that it is a number on a screen and a file on a hard disk. Both can disappear faster than a lottery win at Vegas. But this is where we are headed......a centralised money system which has no physical notes to exchange. Frightening.

Commented 3080 days ago

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Beginning of the headline :Suppose someone wished to sell his house, way back in the 1890's when gold was used as money, and somebody came to that person and said, "I'll give you "x" ounces of gold for your house", and suppose the offer was accepted. This was a commercial operation, where goods traded hands - the owner of a house sold a house, and received gold; the other party delivered some gold and purchased a house. When, bygone days, a house was sold for gold coins, all that the seller had to regard was the quantity... Read More

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