Author Topic: Gold Mining Versus Bitcoin Mining  (Read 4537 times)

MrTempler

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 87
    • View Profile
Gold Mining Versus Bitcoin Mining
« on: April 18, 2013, 07:27:00 PM »
The biggest problem with Bitcoin: it's founded upon nothing. Absolutely nothing. Some will argue in favor of Bitcoin because the basic concept of currency is relative and arbitrary. But even so, most prominent forms of currency are backed by some form of insurance. That might come in the form of something like gold, or a government institution, like the FDIC..

Bitcoin lacks this. Bitcoin's keepers argue that gold is also relative and arbitrary. But gold has been an object of value for thousands of years. It's spanned entire generations. I'm fairly certain your great-grandparents or great-grandchildren won't find any inherent value in a digital file. And the pro-Bitcoin masses argue that a centralized currency means that you have less control over your money. But, if Bitcoin bottoms out just like it done in the very recent past, you're left with nothing or nearly nothing.

That's not to say that Bitcoin doesn't have value as an experiment. Maybe the currency of the future need not be backed by a government body at all. But it sure as hell better have better safeguards implemented into its core framework.
« Last Edit: August 29, 2013, 05:13:03 PM by MrTempler »
Bitcoin Mining is now a Real-World Environmental Problem
Swiftcoin is the Best Alternative

mayrick

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 102
    • View Profile
Re: Gold Mining Versus Bitcoin Mining
« Reply #1 on: April 26, 2013, 06:22:50 PM »
Quote from: "MrTempler"
The biggest problem with Bitcoin: it's founded upon nothing. Absolutely nothing. Some will argue in favor of Bitcoin because the basic concept of currency is relative and arbitrary. But even so, most prominent forms of currency are backed by some form of insurance. That might come in the form of something like gold, or a government institution, like the FDIC.

Bitcoin lacks this. Bitcoin's keepers argue that gold is also relative and arbitrary. But gold has been an object of value for thousands of years. It's spanned entire generations. I'm fairly certain your great-grandparents or great-grandchildren won't find any inherent value in a digital file. And the pro-Bitcoin masses argue that a centralized currency means that you have less control over your money. But, if Bitcoin bottoms out just like it done in the very recent past, you're left with nothing or nearly nothing.

That's not to say that Bitcoin doesn't have value as an experiment. Maybe the currency of the future need not be backed by a government body at all. But it sure as hell better have better safeguards implemented into its core framework.

Hi MrTempler,

In 1999, a 18-year-old named Shawn Fanning changed the music industry forever. It has developed a service, Napster, which allowed individuals to share music files with another, instead of buying expensive CDs record labels. Lawsuits followed and in July 2001 Napster was closed.
« Last Edit: January 01, 1970, 01:00:00 AM by Guest »

queshadesta

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 26
    • View Profile
Re: Gold Mining Versus Bitcoin Mining
« Reply #2 on: May 04, 2013, 08:36:33 PM »
The only element that I can bring about is that I have used this platform since 2012 & there was a bug that has my account to zero. Simon's boss bitcoin-24 has solved the problem of promte & professional manner.
« Last Edit: January 01, 1970, 01:00:00 AM by Guest »

andyreynolds

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 357
    • View Profile
Gold Mining Versus Bitcoin Mining
« Reply #3 on: August 26, 2013, 11:51:58 PM »
But maybe bitcoin only needs more time in order to be a real way to buy whatever you want... only the time knows how this will finish.

andyreynolds

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 357
    • View Profile
Re: Gold Mining Versus Bitcoin Mining
« Reply #4 on: September 03, 2013, 04:24:21 PM »
There are things to improve... but i think bitcoin and swiftcoin will be the most important digital currency, just be patient

andyreynolds

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 357
    • View Profile
Re: Gold Mining Versus Bitcoin Mining
« Reply #5 on: September 04, 2013, 09:49:03 PM »
In all of thing in this world appeared and there is things to correct, its normal if some mistakes appears in these e-currency, bitcoin and swiftcoin are revolutionizing the economy

andyreynolds

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 357
    • View Profile
Re: Gold Mining Versus Bitcoin Mining
« Reply #6 on: September 05, 2013, 05:12:53 PM »
Even the perfection has mistakes, there are a lot of things to improve but that will take a little more, I think bitcoin its better like other platform, with sell online

andyreynolds

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 357
    • View Profile
Re: Gold Mining Versus Bitcoin Mining
« Reply #7 on: September 10, 2013, 01:36:29 AM »
All the things, all people, all products and a lot of other stuff, needs to be enhanced and always will have things to improve

mayrick

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 102
    • View Profile
Re: Gold Mining Versus Bitcoin Mining
« Reply #8 on: September 18, 2013, 05:58:16 AM »
Even though is new, for me a digital currency sounds like a new and nice idea. The security topic is something that will probably improve with time. But personally I think that this is bringing a new trade experience, which is good.

mayrick

  • phpBB REGISTERED
  • Newbie
  • *
  • Posts: 102
    • View Profile
Re: Gold Mining Versus Bitcoin Mining
« Reply #9 on: September 27, 2013, 03:10:07 AM »
Bitcoin is good. I prefer Swiftcoin, but both are really good and their mission is to make the e-currencies the new world-wide currency.