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How do you think Bitcoin's unregulatable nature differs from the unregulatable nature of physical cash?

• oleganza 13y ago
  1. Your cash can be devalued by printing more cash: http://en.wikipedia.org/wiki/Quantitative_easing http://en.wikipedia.org/wiki/Quantitative_easing 2. If you move or store cash, it can be confiscated by the police: http://www.pbs.org/newshour/bb/nation/july-dec13/assets_08-19.html http://www.pbs.org/newshour/bb/nation/july-dec13/assets_08-1... Bitcoin is impossible to "print" more than scheduled and it's much easier to transport and store safely than cash or gold.
  • i_am_dead 13y ago
    1) What about gold then? 2) The Silk Road bitcoins were confiscated by police just fine. In fact Bitcoin is in some ways easier to trace and therefore confiscate. If the cops can trace a transaction to you they just apply some rubber hose cryptography.
    • hcho 13y ago
      >1) What about gold then? It is more easily dividable than gold.
    • oleganza 13y ago
      More than 90% of gold value is speculative. This all will move to Bitcoin as it's superior by all measures. Storing and transporting gold is just way too expensive. The universe wants one money: http://blog.oleganza.com/post/54121516413/the-universe-wants-one-money http://blog.oleganza.com/post/54121516413/the-universe-wants... Rubber hose is more expensive than QE. You can steal one person's stash, but cannot steal from millions at once (well, you can, but it'll be too obvious and very expensive). Just watch zebras crossing the river infested with crocodiles. The fiat currency is when all zebras find themselves in the slaughterhouse.