When the US defaults on it's debt by failing to raise it's debt ceiling by the 17th, the entire world financial system will collapse, then Bitcoin will be the worlds new reserve currency.
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Anonymous2013-10-14 12:04
What other country imposes their paranoia on people the world over? That's not secure... That's insane.
Secure is not needing to give a fuch about what everyone else is doing constantly..
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Anonymous2013-10-14 12:09
Luke, no one cares. Take some fucking xanax and go to sleep.
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Anonymous2013-10-14 20:43
>>42 is that how yall sleep? xD xanax is not a caring drug...
>>33 because there are no poor countries currently? What is Oil?
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Anonymous2013-10-14 20:55
I don't really see the problem... If you wanted to get fancy, you could even laminate some gold leaf.. Now they would be some flash banknotes.
Why wouldn't you want currency to have actual value?
At this point in time, one country could be mining gold (actual value), and another printing money could be buying it...
I'm not the idiot here....
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Anonymous2013-10-14 21:10
You understand the whole reason counterfeit money is illegal, is because you take something that is worth fuck all, and con someone into thinking it isn't?
How is that different to actual money?
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Anonymous2013-10-14 21:14
>>47
Fiat currency is not money you fucking moron.
Stop talking, you obviously don't realise how incredibly stupid you sound.
I feel sorry for your friend, he must be humiliated for you
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Anonymous2013-10-14 21:32
*googles doubtfully*
Fiat money has been defined variously as:
any money declared by a government to be legal tender.[1]
state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard.[2]
money without intrinsic value.[3][4]
Wow, it sounds great
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Anonymous2013-10-14 21:40
In the midst of the ongoing financial crisis, countries with strong currencies are at risk of capital inflows causing appreciation. The potential impact of such appreciation on a nation's economy is historically unprecedented due to globalization and free trade. Thus the world's central banks are locked into a spiral of "competitive devaluation" in which the value of all fiat money systems is being eroded.[4] This process is reflected in the escalating price of gold — investors flock to gold and other precious metals as a store of value and hedge against inflation, which causes the price to increase rapidly, sometimes for several consecutive years and recently, at many times more than the rate of inflation.[5]
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Anonymous2013-10-14 21:45
The term derives from the Latin fiat ("let it be done", "it shall be").[5] While gold- or silver-backed representative money entails the legal requirement that the bank of issue redeem it in fixed weights of gold or silver, fiat money's value is unrelated to the value of any physical quantity. Even a coin containing valuable metal may be considered fiat currency if its face value is higher than its market value as metal.
The term representative money has been used variously to mean:
a claim on a commodity, for example gold certificates or silver certificates.[1][2][3] In this sense it may be called 'commodity-backed money'. any type of money that has face value greater than its value as material substance. Used in this sense, fiat money is a type of representative money.[4]
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Anonymous2013-10-14 21:47
Luke, you should go twitter. All you do is make 10000 posts describing your mutilated thought process anyway. Is /prog/ is the only site small enough for your tiny Ausfailian internet connection to support your constant microblogging?
And don't even pretend you weren't the `I FUCKING LOVE XANAX' guy.
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Anonymous2013-10-14 21:51
What's so bad about money getting more valuable? Things get cheaper.. It's not a problem when it goes the other direction...?
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Anonymous2013-10-14 21:54
>>52 I've never said that... it's probably The `national security agency' messing with your head =) or a troll, same diff
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Anonymous2013-10-14 22:03
or maybe you are nsa? that would be interesting....
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Anonymous2013-10-14 22:05
pretty unlikely though... those guys are way too fucking pussy to lock horns with the mighty mwah ^^
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Anonymous2013-10-14 22:07
Showing their mutilated thought processes would be far to great of a national security risk eh xD
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Anonymous2013-10-14 22:09
Aw... is babby all insecure still?
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Anonymous2013-10-14 22:10
Even the anonymous tag wouldn't hide your sorry asses
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Anonymous2013-10-14 22:12
back under your bridge bitches
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Anonymous2013-10-14 22:21
>>54-60
What in the fuck is wrong with you? It's been like four years and I've yet to see you make an actually coherent, self-contained post.
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Anonymous2013-10-14 22:31
>>62
It's okay, i don't understand things too sometimes...
Don't feel bad =)
So anyway, what's to stop you from taking your fiat currency, buying a precious metal and minting it / making it the new currency? Like you say, most of the money is in the bank anyway.. it probably shouldn't need to affect anything in the e-commerce business.. much like if you changed the picture on a 20$ note
Or is it even worse? You haven't even printed half the bills? Just thrown a few zeros on an electronic account?
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Anonymous2013-10-15 1:10
DA FUK
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Anonymous2013-10-15 1:11
Mind if i look after my own account too?
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Anonymous2013-10-15 1:13
ive got a 320 gb hard drive..
i am gonna be soooooooooooooooooooooooooooooooooooooo rich
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Anonymous2013-10-15 1:21
at least even bitcoin is semi-secure to that sort of shit...
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Anonymous2013-10-15 1:22
less imaginary than a note you can hold in your hand in that respect..