Bitcoin As Cryptographic Gold?

[madfranks]

You're ignoring the fact that by their very nature Bitcoins will be reduced to a Non-Mover

You're misapplying the rule. The "movement" is not about velocity of money or an ever expanding money supply, it's about the first entrepreneur to move into a new field and create a new industry. If bitcoin can simply be duplicated, do it and become a billionaire.

[EE_]

You're right about that; eventually cryptocurrencies will warrant the full attention of TPTB, and they may be willing to do some very drastic things to ensure their dominance in world finance. These currencies are the biggest challenge to their dominance, most likely the single biggest challenge they have ever faced, and I don't think in their wildest dreams they imagined something like this happening. That means the element of surprise is on our side. If they knew what sort of threat cryptocurrencies represented to them, they surely would have squashed them years ago when they were in their infancy.

Let me take a stab at answering your questions.

Yes, as long as they control it's issuance and value. I don't think they like any money which they don't control.

They almost certainly have planned their own versions of it, but none of "them" ever envisioned a decentralized currency like bitcoin or it's derivatives. If they saw what was coming years ago, they would have stopped bitcoin while they could have.

I think this statement is a bit presumptuous.
Wouldn't it be better to let the lemmings come to them and beg for it?
Look at the Iphone...hundreds camped outside in the rain to get this new tracking device that allows tptb to monitor your every movement, transaction and even your thoughts.

Nobody. Who guarantees your loss if your house gets hacked and your physical gold, silver, and cash get stolen?

Not a fair comparison. A better one would be bank accounts, credit cards or paypal accounts...something where you are only holding digits on a piece of paper, or computer screen.
These are insured against losses by theft.

I'm not sure I understand; but if you use dollars to buy Euros, Pounds, Pesos, etc., where are those dollars held?

A small portion is held in a banking establishment. You can withdraw currency without having to sell anything to someone else. Once again, you are insured against losses.

I know you know the answer, it's because they can't control physical specie money. They may be able to control paper derivatives, but not the actual metal.

I don't believe they can. I believe learning about P2P software and how it works would be a valuable thing for you to learn.

Can't argue with you here...

This is truly a case where it is the 99% can stand against the 1% and be successful.

There's a first time in history for everything, I guess?

[Horn]

You're misapplying the rule. The "movement" is not about velocity of money or an ever expanding money supply, it's about the first entrepreneur to move into a new field and create a new industry. If bitcoin can simply be duplicated, do it and become a billionaire.

You're misapplying the rule of production. When you are in fact "hemmed in" by long term expressed expansion (even finite) and a less entrepreneurial copy cat is then made more attractive by "pure novelty creation" nothing more, even without comparing your so called "entrepreneurial qualities" there will be no more comparison needed.

Facebook still has an ever expanding world of faces, and forecasts are for its early demise due in large part to those same finite market forces, Mrs. Magdalene.

Oh, and my riches exceed billions of silver atoms.

[Horn]

madfranks is as cryptographic as is gold as is bitcoin