expect they are intelligent enough to recognize and accept this. Gox was flying under their radar (hahaaaahahahahaa or they're going to be wishing for asbestos underpants before the week is done. Maybe the odd investment banking trader will gamble on it as well. Investing IS THE scam You do realize that if we go to a gold standard (which pretty much by definition kills off fractional reserve banking that the entire world's capital structure just falls apart. Because everyone is as entitled to receive wealth as everyone else. That sounds exactly like something Hitler would have said. It also has a lot of proponents who claim it has compelling advantages over existing fiat currencies. It's not backed by physical assets (.g. Logo design by /u/Annihilia. A few dedicated asic mining machines have been built and shipped to ensure the safety of the network. @vonskippy: With no regulation, nor any real government or business to be tied to, the likelihood of bitcoins becoming a practical currency is slim and none.
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It's a completely artificial product, when the game is over (i.e. That wasn't my question. Vonskippy - Who got sued when banksters screwed the global economy? As such, it is more resistant to wild inflation and corrupt banks. I don't think this is an absolute impossibility with Bitcoin, but it would be a lot of work for rather little gain. It facilitates transfers of wealth beyond any government or political control which helps organised crime and various forms of bribery.
8 All bitcoins in existence have been created in such coinbase transactions. Gox has likely left many people with less desire to support the digital currency.
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