Interesting New Form of Money

[Ross]

***Originally published in Freedom's Phoenix Magazine - April 13, 2012***
Republish, copy, and distribute at will.
Bitcoin  - The Libertarian Introduction
What it is, how it's used, and why you should care.
Erik Voorhees - April 11, 2012
"When a state currency is challenged, the state itself is challenged,
and market forces move swiftly around sickly, depreciating inhibitors."

Introduction

There has been much talk about Bitcoin within libertarian and economic circles. It's becoming a buzzword, but like all new systems that break onto the public stage quickly, Bitcoin brings with it excitement, speculation, rumor, and downright confusion. To be sure, Bitcoin is complicated. After all, it's an entirely new global monetary system - both a currency and a payment network for that currency.

Like all powerful tools, it's important for those interested in using Bitcoin to spend some time engaging in the due diligence of education. Similar to a bicycle, once you know how to use Bitcoin, it will feel very easy and comfortable. But also like a  bicycle, one could spend years learning the physics that enable it to operate.  Such deep knowledge is not necessary to the actual rider, and in the same way one can enjoy the world of Bitcoin with little more than a healthy curiosity and a bit of practice.

This article is a primer on Bitcoin: an overview of the fascinating new phenomenon from the perspective of a humble libertarian who cares more about the ramifications for human liberty than about the technical protocol and brilliant science underlying the network.

The basics of Bitcoin are all covered here, ranging from a light technical overview to due diligence to monetary economics and theory. You'll also find an extensive list of resources to bring you up to speed on this most fascinating thing to happen in the realm of anarcho-capitalist technology since the internet itself.

MUCH MORE TO READ MORE AT :  
http://evoorhees.blogspot.com/2012/04/bitcoin-libertarian-introduction.html

[Diane Amberg]

It may be interesting, but it should be investgated with a very jaundiced eye.  They are trying to prey on people who are very distrusting of Gov't. If  a money exchange doesn't show up in the ''wallet'' it was sent to, there is no recourse, no protection ,no nothing. It's another ponzi type scheme. Be very careful! It's already been debunked and has fallen apart in a number of cases. Ya might as well send the check to that Nigerian.

[Ross]

It may be interesting, but it should be investgated with a very jaundiced eye.  They are trying to prey on people who are very distrusting of Gov't. If  a money exchange doesn't show up in the ''wallet'' it was sent to, there is no recourse, no protection ,no nothing. It's another ponzi type scheme. Be very careful! It's already been debunked and has fallen apart in a number of cases. Ya might as well send the check to that Nigerian.

It's all there in the story and they say it is a risk. If you lose your e-wallet or encrypted information there is no one to turn to for help retrieving the information.

It's amazing that anyone would be distrusting of government during this time in history.

Bit, I'm sure if anyone were more than curious they would study it in depth and look for more updated information.
It could be a ponzi scheme similar to our monetary system and no more fiat than what we have. But that's just speculation on my part.

I may study it deeper and what the heck, I might even gamble a hundred or two in it, just to play.  Who knows.

There are applications for it on, smart phones to provide various functions.

But at any rate, I thought it was interesting reading.

Ya never know the dollar could collapse tomorrow, I'm sure we all hope that doesn't happen.

[Ross]

People don't trust their governments, I wonder why?
Could this be an answer?

Just out.

Hell Breaks Loose in Europe as Banking Crisis Unfolds: Depositors' Money May Be Seized
In Cyprus, money deposited safely in banks will likely be seized and used to "bail in" the country.

http://www.alternet.org/economy/hell-breaks-loose-europe-banking-crisis-unfolds-depositors-money-may-be-seized