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Spokes
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Bitcoins for the Kiddies

- Hugo Salinas Price - Plata.com

By his definition of fiat, Bitcoin is not foisted and forced upon the unwashed masses ergo it is not fiat.

There is a lot of noise about Bitcoin, there's been mention of possible hacking and what not but I haven't seen anything that addresses the major weak point that Bitcoin, as it is today, and must over come, it's an electronic only money wannabee. I have cash that even in a catastrophe has some value as long as the disruptions from the catastrophe look like they will be resolved. In this scenario how the hell would I use my Bitcoins? Lets go one step further, major power disruptions world wide because of a solar EMP event happen. Who's going to have access to and who will want Bitcoins? Barter will prevail and eventually some form of currency will spring up, possibly gold and silver will again step in for a time but electronic money... The only people who will benefit from Bitcoin in the long run are those that made the choice to get out early, use the money to buy tangibles, and allowed suckers who think its a great idea to get stuck with something that takes up a few electrons on some hard drive, somewhere, maybe, hopefully...

Bitcoins for kiddies, what the hell is that, some piece of plastic that comes in a cereal box and has a picture of Mario or a dinosaur on it? Not much thought was put into the title of this article me thinks.

PM's are still my choice and will continue to be because I can hold them, bury them, or sell them to someone else who wants to hold them. And yes I know, don't just put all my money into PM's.

Commented 4044 days ago

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Beginning of the headline :August 15, 2013, 42 A.N. (Anno Nixonis) Our world is awash in fiat currencies. What is a fiat currency? It is a fictitious currency foisted and forced upon people by a government edict. The currencies of the world retained at least a vestige of authenticity up until the fateful August 15th of 1971. On that day, President Nixon reneged on the Bretton Woods Agreements and refused to deliver any more gold from US reserves, in exchange for dollars. At the same moment, all currencies in the world... Read More

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