Bogus Bitcoin Mining Operation Shut Down by FTC: Update

[FalloutJack]

Zooba

Ah, but money that has BEEN money is not smoke and mirrors. As you know, the concept behind the trade of money evolved from the barter system as a representation of goods and/or service. It is, essentially, a massively-grandfathered tradition which spawned the principles of economics. That a country decided to have its own currency and that its value differs from another based upon the value and running of said government is not a farce of a grandscale measure, or else all of the international debts from country to country for god-knows-what could be erased or at least pushed back by a few zeroes. I had actually asked about this in another thread a long time ago about all the worldwide debts and was cited a bunch of reasons for why that doesn't work. If you can't manipulate the numbers so easily, they must mean something legally that refuses to change.

Now, compare the history of money - along with the ups and downs of economics - and where it all came from...to Bitcoins. It's come out of nowhere and nothing and represents no one, certainly not by actual laws or a government...which is kind of important. It doesn't represent anything BUT numbers, and IS the too-easy manipulation of them. If money and bitcoins were sports, money would be like baseball or football...while bitcoins would be Calvinball. If this keeps up, I'm going to declare that badass beards are as priceless as Ming Dynasty Vases, and every badass beard-bearer will agree with me. After that, I WILL RULE THE WORLD...somehow.

 

[Veylon]

Zooba

Ah, but money that has BEEN money is not smoke and mirrors. As you know, the concept behind the trade of money evolved from the barter system as a representation of goods and/or service. It is, essentially, a massively-grandfathered tradition which spawned the principles of economics. That a country decided to have its own currency and that its value differs from another based upon the value and running of said government is not a farce of a grandscale measure, or else all of the international debts from country to country for god-knows-what could be erased or at least pushed back by a few zeroes. I had actually asked about this in another thread a long time ago about all the worldwide debts and was cited a bunch of reasons for why that doesn't work. If you can't manipulate the numbers so easily, they must mean something legally that refuses to change.

Now, compare the history of money - along with the ups and downs of economics - and where it all came from...to Bitcoins. It's come out of nowhere and nothing and represents no one, certainly not by actual laws or a government...which is kind of important. It doesn't represent anything BUT numbers, and IS the too-easy manipulation of them. If money and bitcoins were sports, money would be like baseball or football...while bitcoins would be Calvinball. If this keeps up, I'm going to declare that badass beards are as priceless as Ming Dynasty Vases, and every badass beard-bearer will agree with me. After that, I WILL RULE THE WORLD...somehow.

Yes! Now we're on the same page, a couple definitions aside. I'm still going to point out that "legally" really means "a lot of people accept it this way". Debt isn't physically solid, but is held up by people believing that this thing ought to go to this person because they gave this thing to them first and wrote it all down and wrote their names badly on the bottom. You can't manipulate the numbers because all the other people have copies of the paper you wrote and will be mad if your different numbers mean that you won't give them the stuff you said you would. And then other people won't want to lend you stuff unless you promise them even more stuff back.

 

[FalloutJack]

Yes! Now we're on the same page, a couple definitions aside. I'm still going to point out that "legally" really means "a lot of people accept it this way". Debt isn't physically solid, but is held up by people believing that this thing ought to go to this person because they gave this thing to them first and wrote it all down and wrote their names badly on the bottom. You can't manipulate the numbers because all the other people have copies of the paper you wrote and will be mad if your different numbers mean that you won't give them the stuff you said you would. And then other people won't want to lend you stuff unless you promise them even more stuff back.

I know how it all is suppose to work. Though, I seem to recall a news report here on the Escapist saying that bitcoins aren't money but some kind of taxable property that has to be snarled through, an act which probably makes it suffer hideously. Even still, I think we can both agree that an economy based upon these things would be Great Depression-level disastrous. Barely out of the gates as is, and...reports of fraud, hacking, scheming, drug running... (This would take a bit of a search to re-find, but it's all in there.) I feel like one of my best arguments against it all is that Gox wasn't allowed to pay court costs in bitcoins. That must've hurt.