

The source of currency and social inequality. - eof
http://gd0t.com/node/16

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waterlesscloud
If you're really interested in alternative currencies like Bitcoin, the book
"A Nation of Counterfeiters: Capitalists, Con Men, and the Making of the
United States" is worth a gander.

The US didn't have a centrally issued currency until the mid-1800s. Instead,
banks issued their own notes, and more uhm...enterprising individuals "issued"
their own as well.

There's an argument to be made that the US couldn't have grown the way it did
in the early 1800s without a lot of made-up currencies. The resources to back
a gold or silver currency just didn't exist in the quantities required.

There's a lesson here somewhere.

Review here- <http://www.coinbooks.org/esylum_v10n40a04.html>

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myfoolishpride
He is wrong in that all money in existence is borrowed from the central bank.
Actually a very small portion of U.S. Dollars in circulation are earning
interest for the Federal Reserve. Most of the U.S. Dollars being printed by
the Federal Reserve today is loaned directly to the U.S. Government.

There are many problems with the Federal Reserve, but bitcoin isn't the
solution. The biggest problem with bitcoin is that it puts computer users in
the position currently held by bankers. You have to realize that most people
in the world aren't computer users. Bitcoin further stratifies that
difference.

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nikreiman
A twist on an old /. meme:

1\. Mine bitcoins

2\. Blog about how great bitcoin is

3\. Make bitcoin use widespread by... ???

4\. Profit!

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eof
1\. Do X.

2\. Blog about doing X.

3\. Your X is more valuable.

4\. Profit

fwiw, I have never mined a bitcoin.

