Is Bitcoin the Currency of the Resistance?

Here is an in depth article on Bitcoin; we interview Swedish Pirate Founder Rick Falkvinge in the second half and were going to talk to him about the fact that he converted all of his savings to Bitcoin. Alas, we never got a chance this interview but we’ll interview him again in the next week or two to find out specifically why he did this and Max will not ask him any other questions but about his decision to do this! [Also, anyone concerned about Bitcoin, not to worry because Wall Street’s man in the Senate – Chuck Schumer – is co-sponsoring a bill to ban Bitcoin.] Recall also that, in our interview with Jon Matonis, he predicted that Bitcoin would become more valuable/legitimate if politicians tried to ban it.

Here is the LibertarianNews’ response to the immediate hostility by the gold crowd to Bitcoin.

114 comments on “Is Bitcoin the Currency of the Resistance?
  1. Al Kyder says:

    P.S. @ stacyherbert,

    you can use this service now

    Chariot Trading Company (info), precious metals, base metals, and rare coins

    Midasbitcoin, Buy a real Silver Coin with your bitcoins.

    Todays Price: 2.60 BTC =1oz (XAG)

  2. Bees says:

    @ Al Kyder: “Thank you so much for this article. From reading your comments stacy I can see people are starting to get it. ”

    Get what exactly? No one has come up with the best argument for BitCoins as far as I’m concerned. Worse still, those who “get it” try to belittle and insult those who have the sensibility to argue against it (more sign that it is a Ponzi scheme, IMHO) .

  3. Bees says:

    @ Al Kyder…. Thanks for this link. I hope tonnes of people would trade their BitCoins into Silver coins…. We shall see if they deliver. 🙂

    From their FAQ:
    Q: How many coins can I buy?
    A: Only one at a time currently

    I wonder why…They can be BitCoins millionaire quicker by selling 50-500 Oz silver coin packets instead of one coin at a time.

  4. California Doctor says:

    Announcement to TPTB in the USA and California.
    Attention TPTB in the USA and California.
    If you screw with bitcoin, the doctors around the world may need to choose to start accepting bitcoin.

    Medical care is a service.
    Saving a person’s life should not be taxed.
    Got it?
    That means you Mr. Legislative staff person. I’m talking to you!
    Yeah, you!
    You the jerk that brags about making front running investment calls to your friends at the trading desk just before you guys launch off on the tech company du jour.
    The doctors are looking out for people’s lives.
    We’re not a bunch of Goldman Sachs suck up white-shoe boys (like Gerald Celente knows).
    We’re also not a bunch of dumb ass kool-aide drinking sheep being led by the political nose ring.
    We have the power to save your life and will leave this fucking state and nation if we need to.
    Half of our colleagues already have.
    I’m getting offers from other countries by the hour.
    I don’t need your bullshit Mr. Legislative staffer.

    And you, Mr. Senator Schmucker.
    Just who the hell do you think you are protecting? Dimon? Blankfein?
    Bitcoin is a bunch of hack-jobs trading tokens.
    What the hell do you have against tokens Mr. Senator Schmucker?
    You vote for tokens all day long.
    You trade tokens all day long.
    Instead of looking to ban that token, I suggest you consider balancing your own trillion dollar maiden lane crap.

  5. F. Beard says:

    Whatever Bitcoin is; it will certainly inspire other private currencies and once government realises it cannot win; it will legalise them as it should.

  6. jischinger says:

    last week on KP the guy said bitcoin were $6 – $7 each that went up to $22 over the weekend –

  7. jischinger says:

    y’al know Schumer wants to outlaw bitcoin right?

  8. jischinger says:

    oops spoke too soon. everyone knows about Schumer –

    anyway, this is a fight to the death- Wall Street is in for the kill.

    What I want to know is – can these banks find a way to corner the bitcoin market?

  9. Al Kyder says:

    @ Bees

    You are so impatient !!

    ” I hope tonnes of people would trade their BitCoins into Silver coins…. ”

    No bees!! I hope hundreds of people buy silver pay for things in silver, and buy bitcoin with silver to be converted at the other end into silver / PM’s. I ony plan on holding bitcoin’s for a few micro seconds.

  10. jimmy chen says:

    here is the problem I see:

    Microsoft and apple record all you do on your computers so even if you use bitcoin both operating systems will record that your computer contains the software even if they can not see the transactions. As well, bitcoin is a serious threat to government oversight of a population, therefore they will attack it. summary, not worth the hassel

  11. Al Kyder says:

    @ Jimmy Chen

    Solution; Ubuntu 2.0

    every windoze user that asks me to fix their clagged machine now gets switched to Ubuntu. Not one complaint yet. Everyone loves it.

  12. Billy Bodean says:

    call me an idealist but i see a future where there is bitcoin exchanges and you can exchange your gold/silver for bitcoin, no so much for storing wealth, BUT AS A MEANS TO STOP BANKS EVER HOLDING A SINGLE DIME OF YOUR MONEY!!!

    i can use gold/silver/vegetables/goods/Government Notes for real person to person transactions and when i wanna buy over the internet, anonymously and without the banks/paypal/creditcard companies taking a cut, i use Bitcoin! it seems so simple to me but everyones calling it a ponzi scheme or a pump and dump and complaining about the fiat-ness of it. it shouldn’t be used as an investment, thats what gold and silver are for, it should be used for the reasons it was made for and i quote the bitcoin wiki:
    – Bitcoins are sent easily through the Internet, without trusting middlemen.
    – Transactions are irreversible by design.
    – Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system’s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.

    those three reasons, to me, are enough evidence that ANYBODY who DISLIKES the way banks handle their money, should IMMEDIATELY stop using credit cards and paypal and demand their favourite online retailers accept bitcoin!!!

    oh and change that phony fiat currency you get paid in every week into gold and silver!!!

  13. Bees says:

    @ Al Kyder: 1 tonne = 1000kg. Assuming 1 person weighs 100kg, we will have only 10 people per tonne. You were expecting hundreds? Now, who’s impatient? 🙂

    Thanks again for highlighting that no one should keep BitCoins for longer than seconds and should ONLY be used for transfers. I think that should be stressed. The argument, as we discussed before too: can everyone trust strangers to convert your BitCoins back to tangible assets? Escrow services will only reduce privacy/anonymity that the system promises.

    Another argument is: if it was meant for mere transfer of assets, the inherent value should ideally not fluctuate (so much), should it? Who dictates 1BitCoin = 19USD (at this time)? What accounting system do they use? Is the valuation transparent? How can it be verified by the masses? Any token currency system that makes someone rich, will also strip others off their wealth. It’s all back to ‘ruled by the elites’. (How) Can BitCoins be pegged in value so everyone can use it and NO ONE can hoard, rig or get rich directly from it? Really guys, its inherent price need not escalate to be a true exchange system, does it? We essentially just need an efficient, transparent system of bartering. IMHO, Bitcoins ain’t it…yet. I think many people are open to a sound system and to borrow Celente’s don’t appreciate being thrown from “The Titanic Onto The Lusitania”.

    I am surprised Stacy is quick to agree labeling people who argue against BitCoins are ‘Liberitarian Goldbugs’. Very sad to see she has come down to breaking down/up her audience. I wished she would be more balanced and discuss the pro’s and con’s in depth instead of throwing insults, punches or pigeonholing people who even slightly question her views. Everyone is here to learn from one another. Smart and sexy as she is, she has not all the right answers. Well, I guess whatever makes her happy… It’s her show.

  14. BitVapes says:

    I’m betting on Bitcoins being the currency of the resistance. I’ve just set up an online shop selling electronic cigarettes, and I only accept Bitcoins. Paypal has been shutting down accounts of people who sell my (legal) product. This kind of authoritarian control of free markets will be corrected by the invisible hand.