[WriteLog] WriteLog 11.22 released AND a special sale...

[Joe Subich, W4TV]

 > Despite Libertarians' dislike of central banking, stable currency
 > value derives from central banking.

Only if you can trust the central bank ... I'm not sure given the
performance of some central banks with regard to stability and the
obvious political influence/bias on the largest central banks today
(monetizing record government deficits) that one can necessarily
trust them to prevent very significant inflation going forward.

I certainly would not trust central banks in Russia, Brazil,
Argentina, Venezuela, Mexico, etc. given their track records of
the last 20 years.

73,

    ... Joe, W4TV


On 2014-09-19 1:36 PM, Hal Kennedy wrote:
> My thought exactly.  USD are backed by the USG.  Bitcoin is backed by
> nobody.  Which is deal breaker #1 for me.  #2 is there is no central
> bank.  Despite Libertarians' dislike of central banking, stable currency
> value derives from central banking.  There is, of course, no Bitcoin
> central bank.
>
> I admit to not paying close attention to Bitcoin valuation, but I think
> I remember Bitcoin peaking at $1,400 USD and being down around $1 USD. I
> am risk averse enough to not buy Bitcoins at $1,400 for my IRA and
> 401K.  It just doesn't feel right.....
>
> 73,
> Hal
> N4GG
>
> On 9/19/2014 12:29 PM, k2qmf at juno.com wrote:
>> I don't know about you but my bank
>> has FDIC insurance!!!
>>
>> Go figure!
>>
>> K2QMF
>>
>> On Fri, 19 Sep 2014 15:30:45 +0000 "Wayne, W5XD" <w5xd at writelog.com>
>> writes:
>>>> Bitcoins sound a little bit sketchy to me...
>>>>
>>> http://www.bloomberg.com/news/2014-02-28/mt-gox-exchange-files-for-bankr
>> uptcy.html
>>>
>> <http://www.bloomberg.com/news/2014-02-28/mt-gox-exchange-files-for-bankr
>> uptcy.html>
>>> Yes, it does sound sketchy. Here are some facts to ponder:
>>>
>>> mt-gox is (was) a bitcoin exchange where "exchange" is an important
>>> word to understand.
>>> It was "like" a bank in the sense that bitcoin owners entrusted
>>> their private keys to
>>> a third party (mt-gox) who treated them in an insecure way (i.e. the
>>> private keys were
>>> stolen). This is analogous to taking a pile of cash to a bank, who
>>> put it in a safe, but
>>> the cash disappeared from the safe. The keeper of the safe declared
>>> bankruptcy because
>>> he didn't have the resources to pay back the depositors.
>>>
>>> Would we allow ourselves to say cash is "sketchy" and we should not
>>> use it? Every
>>> individual has to make a choice, but the underlying choice is one of
>>> trust: do
>>> you trust (a) the technology behind the "cash" or the "digital
>>> currency"? (b) the
>>> keepers of the keys to lock to the safe? (c) that the "cash" is
>>> itself not counterfeit?
>>> or (d) the cash won't be inflated to zero value by the time you want
>>> it back?
>>>
>>> My understanding of bitcoin, based on my own technical expertise, is
>>> that its technology
>>> meets basic standards of trustworthiness. But there is no absolute
>>> standard of
>>> trustworthiness. Each of us has to make a relative judgement of
>>> whether one choice is
>>> more trustworthy ("secure") than another. In this case, the choice
>>> is between bitcoin
>>> and the US dollar. Each offers a very different set of technical
>>> tradeoffs, and a very
>>> different set of human judgement tradeoffs (that is, you have to
>>> predict the future
>>> behavior of people in order to make a decision about who to trust.)
>>>
>>> Wayne, W5XD
>>>
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>> ____________________________________________________________
>> Apple's new iPhone?
>> Look closely. Because as you might guess, Apple is hiding
>> something…
>> http://thirdpartyoffers.juno.com/TGL3141/541c5a692619a5a680b34st01vuc
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>
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