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Drug Site Silk Road Says It Will Survive Bitcoin's Volatility 293

Posted by Soulskill
from the currencies-propped-up-by-druggies dept.
Sparrowvsrevolution writes "Bitcoin's recent spike and then collapse in value has convinced many that it's too unstable to use as a practical currency. But not the founder of Silk Road, the black market drug site that exclusively accepts Bitcoin in exchange for heroin, cocaine and practically every other drug imaginable. Silk Road's creator, who calls himself the Dread Pirate Roberts, broke his usual media silence to issue a short statement that Silk Road will survive Bitcoin's bubble and bust. The market's prices are generally pegged to the dollar, with prices in Bitcoin fluctuating to account for movements in the exchange rate. And Roberts explained that vendors on the site have the option to also hedge the Bitcoins that buyers place in escrow for their products, so that they can't lose money due to Bitcoin's volatility while the drugs are in the mail. As a result, only about 1,000 of the site's more than 11,000 product listings were taken down during the recent crash."
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Drug Site Silk Road Says It Will Survive Bitcoin's Volatility

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  • Speculation (Score:5, Insightful)

    by Errol backfiring (1280012) on Friday April 19, 2013 @10:30AM (#43493303) Journal
    Why blame the victim? The rise and fall in price (PLEASE, not "value". There's a difference, you know) is due to speculation, not to the currency itself. Dollars, euros and other fiat currency are just as vulnerable.
    • Re:Speculation (Score:5, Insightful)

      by Greyfox (87712) on Friday April 19, 2013 @10:31AM (#43493321) Homepage Journal
      And Gold. Fox news was the agent of a massive pump-up in the price of gold over the last couple years, looks like that bubble is now bursting too.
      • Re:Speculation (Score:4, Insightful)

        by Anonymous Coward on Friday April 19, 2013 @10:43AM (#43493493)
        Any time I listen to Glenn Beck or Rush Limbaugh or Hannity, there are constant commercials for people selling gold. I think it speak a lot towards the type of people that listen to these jacknuts that the advertisers have identified them as a target demographic. Those talk show entertainers should have their asses sued for ruining the life savings of many, many gullible old people.
        • Re:Speculation (Score:5, Insightful)

          by tehcyder (746570) on Friday April 19, 2013 @11:14AM (#43493815) Journal
          There is a direct correlation between having insane rightwing views and believing that a return to the Gold Standard will usher in a new kingdom of heaven on Earth.
          • Re: (Score:2, Insightful)

            And leftwingers think that Taxing and spending brings Utopia and wealth.

            See how easy it is to paint with broad strokes?

            • Re: (Score:3, Insightful)

              by Anonymous Coward

              I don't think any of them thinks it brings wealth. Equality perhaps, but not wealth.

              • Re:Speculation (Score:4, Insightful)

                by Archangel Michael (180766) on Friday April 19, 2013 @12:36PM (#43494795) Journal

                Equality of results (not equality of opportunity) which is their version of "Utopia", and impossible, and tyranny of a sort. It punishes success, rewards failure, by definition.

                I believe in equal opportunity, given that is possible, in a truly fair and just society. Look, I have as much if not more problem with our current justice system as most left wingers. It isn't fair. There is too much cronyism, on both sides of the isle.

                • Re:Speculation (Score:5, Interesting)

                  by Kjella (173770) on Friday April 19, 2013 @02:38PM (#43496151) Homepage

                  Equality of results (not equality of opportunity) which is their version of "Utopia", and impossible, and tyranny of a sort. It punishes success, rewards failure, by definition.

                  Depends on your understanding of equal opportunity, let's take college education as an example. Is it "equal opportunity" if the B-grade son of a minimum wage worker goes to college and the C-grade son of a millionaire doesn't get in? Or is it that they both had the "equal opportunity" to pay Harvard $40,000/year in tuition? If a teenage kid develops a serious condition before he's had any chance to pay for his own medical insurance does he deserve the same quality of life if he's the son of a minimum wage work or a millionaire? Or is it equal opportunity that their parents both had "equal opportunity" to pay for an insurance with good coverage? The words are the same but the meaning is very different.

                  The plan economy died with the Soviet Union decades ago and despite the rumors of socialism in Europe doctors are paid very different than burger flippers, there is competition to provide many if not most goods and services. The difference is the cost is often shifted from the user to the tax payer, particularly at the lowest end to provide universal services to those who can't afford them. But I wouldn't call giving someone who's fallen down help getting up rewarding failure, whether they tripped on their own shoelaces or got pushed to the gutter. Then again offers to bring a mattress, food and water so they can stay down more comfortable might. Unless they have broken legs, in which case they don't need tough love to pull them back on their feet but real help to recover. And some can't recover, but we can give them a decent life.

                  It's easy to become a capitalist when you're on the winning side of the equation. I'm not so selfish to believe that I "deserve" a better life than an Indian or Chinese or worse a third world country but if you lay out of a plan to average the standard of living across the world then hell yeah expect opposition. The rich want to stay rich, whether it was earned fair... meh, like anyone chose to be born a son of a poor, non-literate sheep herder in Africa or not. I've run into many people with various physical and mental disabilities and the only thing I can say is that I'm happy to be relatively healthy. You're right, I'm quite probably going to be a net tax contributor unless I happen to live to 100+ or have some hyper-expensive medical issues down the road. I still think I got the better end of that deal.

      • by BitZtream (692029)

        Except Gold has value regardless of its use as a currency.

        Gold is rare and useful. It will never 'bust' as long as those two things are the case. BitCoin, for example, wouldn't exist without Gold because there would be no CPUs worth mentioning, and nothing fast enough to due the required calculations in any meaningful sense of the word.

        Gold is used in many things. Drugs. Electronics. Industrial processes. Medical devices. Jewlery. (the list is tremendously long) and ... as a form of currency universa

        • Re:Speculation (Score:5, Insightful)

          by O('_')O_Bush (1162487) on Friday April 19, 2013 @11:32AM (#43494065)
          That is mostly bullshit. Gold has some intrinsic value, but the vast majority of gold's value is inflated by speculators and wealth storage (bullion, futures, jewelry). What you are claiming is not dissimilar to saying the greenback with never hyperinflate because of the intrinsic value of the paper it is printed on.

          Looking at historical gold prices, I'd estimate that if gold was priced on intrinsic value alone, cost per oz would be less than a tenth of what it is.
          • by jxander (2605655)

            What you are claiming is not dissimilar to saying the greenback with never hyperinflate because of the intrinsic value of the paper it is printed on.

            It's cloth, actually.

            Currency isn't printed on paper, it's roughly 75% cotton, 25% linen. [treasury.gov]

            • Except for the currency printed on plastic [wikipedia.org].

            • by Frosty Piss (770223) * on Friday April 19, 2013 @12:16PM (#43494617)

              It's cloth, actually. Currency isn't printed on paper, it's roughly 75% cotton, 25% linen.

              U.S. currency is printed on paper

              Cloth [wikipedia.org] is a flexible woven material consisting of a network of natural or artificial fibres often referred to as thread or yarn.

              Paper can be made of many things including cotton and linen. Paper [wikipedia.org] is a thin material mainly used for writing upon, printing upon, drawing or for packaging. It is produced by pressing together moist fibers, typically cellulose pulp derived from wood, rags or grasses, and drying them into flexible sheets.

          • by moeinvt (851793)

            "...gold's value is inflated by speculators and wealth storage..."

            Gold's usefulness as a medium of wealth storage is definitely a huge portion of the value. Ten years from now (barring some unprecedented discovery or new matter transmutation technique) it will STILL be a huge portion of the value. Wouldn't that qualify as "intrinsic" value?

        • Gold is rare and useful.

          Not really. IIRC about 5% goes towards industrial use (CPUs and such).

          The rest goes towards bullion or jewelry. In the past decade most of the gold jewelry has been sold to India and China for things like gold chains – which is sold by weight – no premium given for artistry. Both of those countries have a under developed banking / investment system, so I would trim the percentage going towards jewelry. And most gold is sitting in vaults as bullion. If released it would crush the market – so it is an artificial restriction in terms of useful industrial use.

          Like fiat currency the only reason why gold has much in the way of value is that everybody values it. (It’s harder to debase then fiat currency which is a plus.)

      • You didn't hear it from me, but Gold is going to completely burst in the next few years it's "At that point". Just the other day we saw the first drop in years.

      • by bobbied (2522392)

        And Gold. Fox news was the agent of a massive pump-up in the price of gold over the last couple years, looks like that bubble is now bursting too.

        Pump and dump has been a common technique throughout history for those "in the know" to make money. Buy low, talk up what you own, unwary investors look at the price rise and jump on, you slowly sell at a profit. Don't be fooled, bitcoin is subject to the same manipulation as gold, silver, stocks and the like. Actually, Bitcoin is MORE subject to such because it is by definition unregulated.

        Go ahead and trade in bitcoin if you want, just don't be fooling yourself into thinking it is somehow better than d

        • Yeah, the real question is how much more risky it is. Once you can quantify risk, you can know what a sound investment is or not. Responsible, aware, forward thinking speculation can be good for a market, there's just not a lot of it.

          • by bobbied (2522392)

            Shhhhh! I'm trying to talk this thing down right now....

            You do have an excellent point... The proper strategy could be profitable here.. Does anybody sell BTC futures yet?

    • Re:Speculation (Score:4, Insightful)

      by alexander_686 (957440) on Friday April 19, 2013 @10:48AM (#43493555)

      No they are not.

      “Dollars, euros and other fiat currencies” have central banks that can intervene and do try to manage the currency. When inflation / deflation spikes they can create / destroy currency, money, and near money. (Does this mean they can debase the currency, unlike BitCoin? Yes)

      Gold, which I think is more like BitCoin, has the advantage of – for the lack of a better word – mass – that resists rapid changes. A wide user base, lots of the stuff gathering dust in vaults or grandma’s jewelry.

      Both have deep forward and futures market they also lend long term stability. Maybe one day BitCoin will get there – but right now it is an interesting experiment in my opinion.

      • by BitZtream (692029)

        Your commenting on a story about how bitcoin spiked and plummeted to worthlessness in the timespan of a day ... and your comment is about how stable BitCoin is?

        What world do you live in where that makes sense?

      • The term you may be searching for is "confidence" - people will always buy, hold, and sell gold in many forms, and regardless of what the market does, perceive it to be a valuable possession and essential resource to many industries. Unlike BitCoin, however, gold has many, many practical uses as a raw material, and any work performed on it actually adds value - such as the creation of jewellery or use in an alloy. You can't add value to a BitCoin, and those who use it (such as Silk Road) clearly say it deri
      • by drinkypoo (153816)

        âoeDollars, euros and other fiat currenciesâ have central banks that can intervene and do try to manage the currency.

        Yes, but you're assuming their goal is stability. In reality, their goal is to cause more or less precisely timed instabilities from which certain parties can profit.

      • ...have central banks that can intervene

        Are you sure? Central banks only come after the fact, when regular banks have already poofed the money up. They can only play with some interest figures, which are not very influential. I am afraid you greatly over-estimate the power of a central bank.

        • Yes, I am sure. It is their bread and butter – what they do every day. It does not generate the headlines as banks burn to the ground but it is one of their central mandate. I was speaking broadly, so I don’t know what aspect you are specifically referring to, but inflation, interest rates, and FX rates are all linked to together. Affect the first 2 and you will affect the 3rd.

          They run monetary policy, which outside supply shocks (such as the oil crisis of the 70s) has the greatest influence on

    • Re:Speculation (Score:5, Insightful)

      by sribe (304414) on Friday April 19, 2013 @10:48AM (#43493569)

      Dollars, euros and other fiat currency are just as vulnerable.

      Bullshit! Currencies backed by the economic activity of entire 1st-world nations are nowhere near as vulnerable.

      • by amiga3D (567632)

        Really? A dollar is only worth what you can buy with it. It can become nearly worthless overnight. It is only paper and your faith in it is all that gives it value.

        • Re:Speculation (Score:4, Insightful)

          by sarysa (1089739) on Friday April 19, 2013 @01:23PM (#43495223)

          Really? A dollar is only worth what you can buy with it. It can become nearly worthless overnight. It is only paper and your faith in it is all that gives it value.

          That's a foolish and tired cliche. It has centuries of history. People realize that society would collapse if we just gave up on the dollar overnight. I'm no fan of our current president but I certainly know that the checks and balances in our system would make it virtually impossible for his administration to ruin the currency. (fears which propped up gold) There is apocalyptic military might backing it up. People have been making that argument since we went off the gold standard (not the first time in U.S. history, btw...was a common practice during wartime) and most realize these things (at least subconsciously) and rest easy that their fellow citizens will not allow the economy to spontaneously combust and return to the barter system.

          Unless you're a college student who is just waking up to how the world works, it's ridiculous to make that statement. Adults will simply reply: We know, and we don't care.

        • Really? A dollar is only worth what you can buy with it. It can become nearly worthless overnight. It is only paper and your faith in it is all that gives it value.

          A dollar is also legal tender. Whether people have faith in it or not, they're required by law to take it as repayment of my debts.

    • Re:Speculation (Score:4, Insightful)

      by petermgreen (876956) <plugwashNO@SPAMp10link.net> on Friday April 19, 2013 @11:10AM (#43493789) Homepage

      Massive ammounts of contracts are written for pre-determined ammounts of dollars, euros, pounds etc. That makes the value of those currencies somewhat "sticky", yes it does change over time but usually fairly slowly. If it changes too rapidly governments will sometimes step in to halt the shift.(e.g. http://www.guardian.co.uk/business/2011/sep/06/switzerland-pegs-swiss-franc-euro [guardian.co.uk] )

      Bitcoin has none of that, it just floats to whereever supply and demand take it. Speculators consistute some of that supply and demand but not all of it. Depending on their strategy they may either increase or decrease volatility

    • by bobbied (2522392)

      Dollars, euros and other fiat currency are just as vulnerable.

      Not exactly, dollars, Euros, Yen etc are not as vulnerable as bitcoin for a number of very important reasons. They certainly can be mismanaged to the point where they become worthless, but due to the world wide market and trade in say dollars it would take some time for any of the major currencies to go to totally worthless. Bitcoin could do that literally overnight.

      Bitcoin also suffers from being backed by nothing more than the willingness of folks to trade for them. All real currencies in circulation

    • by sarysa (1089739)

      Why blame the victim? The rise and fall in price (PLEASE, not "value". There's a difference, you know) is due to speculation, not to the currency itself. Dollars, euros and other fiat currency are just as vulnerable.

      Once again, the pro-bitcoin problem takes a massive problem and attempts to diminish it. The combination of unregulated markets and deflationary currency creates a huge problem with regards to human nature. If we were all robots and behaved how the currency wants us to, it wouldn't be a problem. But we're not. We will speculate. We will hoard. We will look at the currency late and go "fuck you, I'm not going to make the early adopters rich" which was one of the flaws of the original design. The problems wit

      • by sarysa (1089739)
        Damnit sladhdot, phone users like me need an edit function.

        "...the pro-bitcoin crowd takes a massive problem..."
    • Incorrect, the number of days of that level of volatility in a major currency since world war II is small (the Yen crash, the attack on the pound, a few other big days) this is normal for BTC, which is a thinly traded and volatile by design. That 9% of the economy was taken down by that volatility shows the reason for stabilizing mechanism in a trading system.
  • by dada21 (163177) <adam.dada@gmail.com> on Friday April 19, 2013 @10:33AM (#43493353) Homepage Journal

    I sell physical goods and accept Bitcoin as a payment method. The volatility doesn't bug me at all. While it's only a tiny percentage of overall sales, it's still exciting to see a currency that can actually become a true bartering agent that is freed of non-market forces.

    If a seller is concerned with volatility, they should consider not selling their received BTC for fiat currency. It's the number of "we accept bitcoin" sites that accept currency and then immediately convert it to fiat that is one reason for the downward pressure.

    I blogged about it the other day, in how I wish governments would just make BTC to fiat currency transactions illegal [2abd.com]. It would be a great step in reducing volatility and decoupling BTC from the regulated markets.

    • by Wookie Monster (605020) on Friday April 19, 2013 @10:42AM (#43493477)
      So, you like BTC being unregulated, but you want governments to make certain activities illegal. How is this not regulated?
    • by mooingyak (720677) on Friday April 19, 2013 @10:45AM (#43493527)

      I blogged about it the other day, in how I wish governments would just make BTC to fiat currency transactions illegal. It would be a great step in reducing volatility and decoupling BTC from the regulated markets.

      That sounds to me like a sure way to kill bitcoins. If I accept bitcoins as payment, and no one who sells something else I want to buy accepts them, then the bitcoin has no value for me.

    • I own my sole to the company store has deeper meaning then just a song lyric. Mine companies used to pay people not just not enough to survive (so they had to borrow credit from the company store and then be forever in debt) but often in company currency, that could only be spend in the company store. It is a way to enslave people, not free them.

      But ah... it was the GOVERNMENT that freed these people by enforcing that salaries should be payed in fiat currencies. So basically, you want to reverse that. Here

      • by chill (34294)

        I own my sole to the company store...

        That is funny on so many different levels.

      • by tehcyder (746570)
        You just broke the first rule of slashdot: government is always bad.
      • by drinkypoo (153816)

        You load sixteen tons and what do you get
        Another day older and deeper in debt
        Saint Peter don't you call me 'cause I can't go
        I owe my soul to the company store

        (etc.)

        Owing your soul to the company store has been transitioned from a condition of debt to a single company to a condition of debt to multiple parties. Instead of debt to the mine it's now debt to a variety of banks for a variety of purposes, like medical expenses, student loans, and mortgages. The government didn't object to people being in a condit

      • by Entropius (188861)

        When you meet a libertarian, remember, the oppression of government is not what he objects to, it is that it is the government doing the subjugation and not him.

        That's not always true. There actually are some people out there who don't want to reduce the power of government because they want it instead; they want less coercion all around, and would prefer nobody to be waving guns at all. Maybe theirs is a mad quest, maybe it isn't, but not all of them want to be the boss instead.

      • Re: (Score:2, Insightful)

        Instead, we are in debt to our government, to the tune of 55K per person. And you seem okay with it, or are ignorant of that fact. There is no way to tax the rich enough to cover that debt. The Company Store is now the Federal Government.

    • by Registered Coward v2 (447531) on Friday April 19, 2013 @11:04AM (#43493735)

      I sell physical goods and accept Bitcoin as a payment method. The volatility doesn't bug me at all. it's only a tiny percentage of overall sales...

      That is because your risk is very limited. If you had a significant amount of your sales in Bitcoin you'd probably think differently; since your risk exposure would be much higher.

      If a seller is concerned with volatility, they should consider not selling their received BTC for fiat currency.

      No, they should immediately convert it so they assume no volatility risk.

      It's the number of "we accept bitcoin" sites that accept currency and then immediately convert it to fiat that is one reason for the downward pressure.

      That's called market forces.

      • Re: (Score:2, Interesting)

        by dada21 (163177)

        Since my financial stability for the future doesn't correlate with income nor even profit, I think my risk is pretty low. Even if volatility continues, and even if my businesses took in 50% of their revenues in BTC, I still wouldn't see any actual harm. The businesses have been around for decades, and they're self-sufficient and stable.

        Converting BTC to fiat currency puts a sell-pressure on BTC. Holding BTC would reduce the selling supply, thereby reducing volatility from the sell side. It's the same wi

        • Since my financial stability for the future doesn't correlate with income nor even profit, I think my risk is pretty low. Even if volatility continues, and even if my businesses took in 50% of their revenues in BTC, I still wouldn't see any actual harm. The businesses have been around for decades, and they're self-sufficient and stable.

          Since I know nothing about your particular business I'll simply generalize that most business cannot afford the risk inherent in Bitcoin volatility. At some point, the loss in Bitcoin value means you are not taking in enough to cover costs and start burning reserves. Companies hedge their bets to reduce volatility. That is why derivatives exist to reduce volatility risks in commodities; which Bitcoin is and rather than hedge a thinly traded commodity some people decide to simply eliminate the risk and cash

    • by tehcyder (746570)

      I sell physical goods and accept Bitcoin as a payment method. The volatility doesn't bug me at all. While it's only a tiny percentage of overall sales, it's still exciting to see a currency that can actually become a true bartering agent that is freed of non-market forces.

      There is but one god, and that god is the market.

    • by BitZtream (692029)

      If you wanted to see a currency made up, sell gift certificates for your products. Look, you made a new bartering system without making yourself part of a scam. Playing monopoly is pretty much the same thing as well. Might as well use monopoly money rather than bitcoin, even it has more intrinsic value than bitcoin.

      If a seller is concerned with volatility, they should consider not selling their received BTC for fiat currency. It's the number of "we accept bitcoin" sites that accept currency and then immediately convert it to fiat that is one reason for the downward pressure.

      And what does that tell you about BitCoin? What should you take away from this? Since you clearly don't get it I'll answer for you ... NO ONE TRUSTS THE SCAM.

      I blogged about it the other day, in how I wish governments would just make BTC to fiat currency transactions illegal [2abd.com]. It would be a great step in reducing volatility and decoupling BTC from the regulated markets.

      So if no one can exchange real m

    • by h4rr4r (612664)

      That would make bitcoins worthless overnight.

      Stores would simply stop accepting them.

    • by roman_mir (125474)

      ...sites that accept currency and then immediately convert it to fiat that is one reason for the downward pressure.

      I blogged about it the other day, in how I wish governments would just make BTC to fiat currency transactions illegal. It would be a great step in reducing volatility and decoupling BTC from the regulated markets.

      - you really don't want that, you think you want it, but you don't.

      Having people on both sides of a transaction is important, imagine if there was nobody to sell bitcoins on exchanges, and so the volumes would thin out completely and you would have just a few thousands or (hundreds) trades a day.

      So the bid and ask would be pushed higher and higher and higher, however the moment anybody appeared with a non-trivial amount of bitcoins, prices would crash.

      Why would you want intraday variations in other curren

  • to bitcoin?

  • by Jesrad (716567) on Friday April 19, 2013 @11:04AM (#43493731) Journal

    With the very recent forceful closing of the BitFloor BitCoin exchange, and the inavailability of bitcoin-24, another (european) exchange, there seems to be a crackdown on BitC exchanges going on.

    What is needed, is a decentralised method for trading BitCs for other currencies, or else BitCoins can be made to be worthless by shutting down the current centralised, easily identified exchanges. I'd suggest Ripple but that technical solution seems to be going nowhere at the moment, alas.

    • by bobbied (2522392)

      Ahhh Yes.. Without an exchange willing to convert my bitcoin to some other currency, there are few retailers who will be accepting payment in bitcoin for much of anything. Once folks realize that bitcoin cannot be easily converted, they will become valueless.

      Of course, they have huge value to those who engage in illegal trading exactly because there is no government backing, but is that the kind of thing I want to be indirectly involved in?

      I wonder if this is an effort to shut down the currency or is it

  • Shhh! (Score:5, Insightful)

    by Bob9113 (14996) on Friday April 19, 2013 @11:20AM (#43493877) Homepage

    Silk Road's creator, who calls himself the Dread Pirate Roberts, broke his usual media silence

    Yegads, man! You're going to scare the horses. Your usual media silence is a wise practice. The general public doesn't know you exist, and doesn't know you use Bitcoins. Those are good things. The first rule of drug dealing is you do not talk about drug dealing. Just 'cuz I don't use your service doesn't mean I want to see more scrutiny aimed at you, or at Bitcoin.

    • by drinkypoo (153816)

      If your only goal is short-term profit from illegal activities, that's true. If you want long-term legitimacy, you must engage in politicking. Ultimately, the practice of governments telling citizens what they may do with their bodies is an evil one which must be combated.

  • by TsuruchiBrian (2731979) on Friday April 19, 2013 @12:16PM (#43494607)

    There is no obvious explanation for why the digital currency has fallen so far and so fast, although the market correcting after such a huge rise might be a good explanation.

    The price of bitcoin rose much higher than the cost to mine bitcoins (i.e. price of computers and electricity). While some people got caught up in speculating, others saw this and started mining and selling instead, causing a crash. Bitcoins are volatile because people don't understand it yet. If they did, they'd realize that the value can not go far above the price of mining. Having said that, the price of mining is continually going up.

    Once a few websites start publishing indices of the average cost of mining a bitcoin at any given time, I think that will keep this sort of speculation in check.

    • by femtobyte (710429)

      A corollary to this point being that growing the bitcoin economy currency reserves requires and encourages wasting/destroying a nearly equal value of energy to create. If there are a billion dollars of bitcoin in circulation, that means a billion dollars of coal was burned to create those magic numbers. Bitcoin maintains its scarcity and value in the economically most inefficient possible manner: by requiring the destruction of an equal value of goods --- and specifically a kind of goods associated with som

  • They are little more than promissary notes. Units of Debt/Value that can be traded. The "value" of either can be destroyed in a day, and restored as quickly.

    It may be that "money" as an arbitrary store of value has reached it's useful limit in a technological society. As self-replicating memes go, it has certainly gone from providing symbiotic utility to becoming a pathological agent on more than one occasion.

    Current society, however, is built around it. Replacing it means a new social order - probably one

  • by slashmydots (2189826) on Friday April 19, 2013 @01:42PM (#43495443)
    Besides one obviously fake spike and drop, the value hasn't changed much more than 20% in either direction lately that I've seen. Yeah, the dollar differences are insanely high compared to the last 2 years but from a percentage standpoint, the value hasn't changed much. Overall, it's still up significantly from 3 months ago.

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