[FoRK] Bitcoin: "tied cryptologically to all the criminal activities that contributed to its shared value"
Joseph S. Barrera III
joe at barrera.org
Tue Apr 16 10:05:31 PDT 2013
On 4/16/2013 9:48 AM, Eugen Leitl wrote:
> On Tue, Apr 16, 2013 at 09:44:28AM -0700, Joseph S. Barrera III wrote:
>>> Seems like its primary use is speculation, which isn't inherently
>> (unless, of course, you don't report your capital gains on your taxes)
> Only if you cash out.
and from http://bitcoinintro.com/bitcoin-overview/use-cases/ which Lucas
"Storing cash for a long period of time is not profitable because of
inflation – a government’s printing of unbacked notes. After Bitcoin’s
pre-programmed inflation period ends, it will begin to deflate due to
attrition. Storing your coins for a long period of time may actually
increase their value!"
So I was wrong. The primary TWO uses of bitcoin are:
(although personally I'd rather hoard gold. It's prettier.)
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