A long time ago I looked in to second life, I if the supply of their currency (Linden dollars) goes up, but either way it is controlled by second life. However you could buy virtual property and though it was in control of second life, they did limit the supply (probably not to have the game to spread out) I read an article of the first online real estate millionaire and it was a second life avatar. Also you could mine the linden dollar by standing around a place (that had adds). you could also make virtual motorbikes and clothes and sell them by marketing them around these areas. New people joining the game would need a place to stay and rent it off people that bought up property and developed it (maybe through the use of a 3rd party avatar that can program the buildings). It truly was and awesome economy, you could actually find your avatar a job ! Then, from what i understood, A couple of key people came in and bought property and programed in some casinos and I am sure they made alot of money and could mess with the odds as it was all made by themselves. Though bitcoins is more popular and seems more in the real world (and has limits to the mining). I really think second life was a much bigger step. It was a independent economy! but in the end I guess the transparency of bitcoins is what gave it the extra push.
bitcoin is really a surprising currency nowadays. Some entrepreneurs try to copy bitcoin's idea and I believe in the nearest future we'll see more alternatives to bitcoin. Despite the US wish to make the dollar strong and dominate in the world, people tend to invent something new
Latest bitcoin news..... "Bitcoin Foundation Receives Cease And Desist Order From California" "Bitcoin trader Mt. Gox halts US cash withdrawals for 14 days" "In-Person Bitcoin Exchanges Are Thriving" "Bitcoin In IRS Crosshairs, Says Government Report" Questions, comments, thoughts, concerns?
For something to actually be a currency you need to be able to exchange it for the goods and services you use in your everyday business and oersonal life. My landlord. my grocer, my gas station, insurance company etc. don't want bitcoins. For the moment they are all happy to accept the US Dollar. One is a currrency the other is simply a penny stock speculation.
". Despite the US wish to make the dollar strong and dominate in the world, people tend to invent something new" absolutely false. the US believes it can depreciate the dollar into a resulting prosperity for the US. this road inevitably leads to financial disaster. what support is there for your remark?
This is correct. The time for the vested interests to need/want a strong dollar is past. We are in the depreciation phase of the endles cycle. Time to "repay" the debt. "make good" on the numerous social contracts and the only way to do those things is in nominal terms. I have no doubt social security will meet its obligations and that US Debt will be redeemed at maturity. That said, the dollars received with be depreciated 70,80 or 90% from present levels and your medicaid beifits will barely pay for aspirin and a visit to a clinic with a seven hour wait to see an intern ... not an internest but an intern. No one in charge thinks we can ever regain a strong dollar stance or that the dollar currently represents a relable store of value. That day is past.
I don't know... Definitely a bump in the road as far as USA bitcoiners go who use major exchanges here. I guess face to face transactions are still happening , how would they stop private trade? As long as people are trading it face to face or on other exchanges around the world the bitcoin market lives on.
The end of what? Bitcoin? The louder the government denounces and restricts BTC the more interested the average person will be in it. $1000/BTC here we come. They can't stop it, exactly right.
The BTC foundation, as much as I don't personally like it, isn't a money transmitter like this thing says. Honestly, this is really dumb. Anyway, like most things related to bitcoin, this will blow over quickly. More or less a "non-event."