Meet The New Dollar

[EpicGlobalWeb]

It's called Bitcoin.

I really have a strong feeling that the American dollar is not going to be very usable because of our dramatically flawed banking system. So I began to ponder what would happen if the entire world decided to transact only with Bitcoin tomorrow. Besides the bitcoin to dollar ratio going haywire in the first year or so, it would actually be a very nice thing to happen. Philosophize with me, brethren:

1. There would only be enough Bitcoin for every person to have 0.003 of them, if all Bitcoins were distributed evenly.
2. The global economy and its markets would be stable and inflation would be a thing of the past.
3. Wealth would be distributed much more fairly (there would still be poor and rich, but not as dramatic).
4. Central banks could not cause economic collapses before every election.
5. The banking industry would be managed by web hosts, and banking would be optional.
6. Fraud would decrease dramatically.
7. Boom & Bust cycles would be a thing of the past.
8. Everyone would truly have an equal economic opportunity.
9. Security of money would be the responsibility of individuals rather than banks, governments, or third parties (good or bad depending on your politics).

 

[Ron Killian]

I don't totally understand bitcoin, but then again I have not read up on it either. From what I have read, there are so many negatives, and so many people saying it is failing. Course those could be the ones against it.

But doesn't point number one prove it can not be a complete reality? Not enough to go around. Or am I not understanding what you are saying?

I can not see dollars ever going away completely. Many people still use cash. For various reasons. Some people have to.

As for banking system has always be flawed hasn't it? Funny banks have millions to build new banks everywhere, but then they only want to give you .005% to let them house your money.

And sadly, there are FAR to omany people that profit in one way or another from bad economies and inflation. Not to mention, many say it's a way to keep people down.

Sounds good, but too good to be true? Or every to be a reality?

I use to have some friends who said, if anything real bad ever happened, that toilet paper would be the most valuable "thing".

 

[Rob Whisonant]

I have always been interested in Bitcoin. The problem I have ran into is taking bitcoin as payment for product sales. I need to have a way to take the payment and then automate the delivery of the digital goods.

Anyone know of any service that can do that? Kind of like a JVZOO that takes bitcoin. Or one that has a post back API.

 

[Ron Killian]

I don't know of any marketplace like that. Only so many places like JVzoo in the first place.

There are plugins for Woocommerce that will do it. Never used any, so can't recommend any one.

 

[Knightmedia]

Honestly I hope crypto's get banned. I paid $180 more than msrp for a graphics card when I needed it because cryptominers driving demand sky high. It's bad for global economy in many ways that people don't realize