Comments on: Bitcoin doesn’t help the unbanked nor does it escape the trappings of an economy based on money

By: Bushi

Bushi — Thu, 05 Dec 2013 22:49:00 +0000

What about micro payments become possible at zero cost? What about storing money just on your phone? What about sending money to your family in any part of the world in ten minutes? SImply creating a another bank account at zero cost? I think a lot of people all over the world would gain from that. Why financial institutions freeze accounts of initiatives like wikileaks, just because it doesn’t serve their agenda.

By: David Barker

David Barker — Sun, 07 Apr 2013 14:59:00 +0000

In reply to Jim Tupper. Dollars and euros have intrinsic value because governments accept them for payment of taxes. Gold has intrinsic value because it is pretty. The intrinsic value of bitcoins is that some people think they are cool. That might or might not last - it is a great experiment.

By: Carl Packman

Carl Packman — Fri, 05 Apr 2013 14:47:00 +0000

In reply to Jim Tupper. As I said in the piece I was told by Bitcoin that it would facilitate savings and lending groups - but then a year down the line it was unable to.

By: Jim Tupper

Jim Tupper — Fri, 05 Apr 2013 10:59:00 +0000

In reply to marge simpson. Govt exists to do the things that individuals can't. If we can make our own currency, govt doesn't need to do that anymore.

By: Jim Tupper

Jim Tupper — Fri, 05 Apr 2013 10:50:00 +0000

I’m really curious, exactly how did you think Bitcoin would help the ‘unbanked’? It’s not clear from the article how bitcoin has failed at anything except your own preconceptions …

I’m also confused as to how anyone thinks that dollars or euros or gold have any intrinsic value.

By: marge simpson

marge simpson — Thu, 04 Apr 2013 19:07:00 +0000

bitcoin is a very right-wing/libertarian idea. move your cash where the government can’t tax it. the freeing up of money will starve the government and allow us to live with less of its interference.