October 25, 2014



Bitcoin, Gold And Competitive Currencies

September 21, 2012


Trevor Lyman

| Trevor Lyman is a political activist and founder of LibertyCrier.com. During the 2008 Ron Paul Presidential campaign Trevor was the lead organizer of the first Ron Paul moneybombs (of Nov. 5th, and Dec. 16th, 2007) and of the Ron Paul Blimp project.



Opinions from Liberty Crier contributors and members are their own and do not necessarily reflect those of The Liberty Crier.

As the dollar nears decline alternative currencies like Bitcoin are getting a closer look. Could bitcoin be a quick and easy way to get off the dollar?

If you have any experience with bitcoin please tell me about it in the comments below.

 




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  • Jingo

    The best way to get off the dollar is to do as I did. Move overseas, and open a business there. Especially in Asia. There is a can-do spirit over here that doesn’t exist in the USA anymore. Labor is cheaper, but foreign labor is given larger salaries and living costs are a fraction of the USA’s.

    You have to ask yourself, is the average American really making any financial progress when they are year-by-year getting into more debt, while the average Chinese person has a constantly growing portfolio? And the Chinese generally are among the lowest salaried, so that says a lot. But living costs in Asia are so tiny that it’s easy to save money aside. In America it’s near impossible and if you do manage to earn yourself enough to stash away, crime is rampant in the USA due to decadent materialism and the failed drug war (which they actually won over in Asia a decade ago easily because they didn’t have intelligence agencies peddling drugs for covert funding).

  • PaulSiemsen

    Like James Turk, I hesitate to adopt a currency that is not a tangible asset. However, at the moment my real reluctance to use Bitcoin is because it seems too complicated. Gold and silver are easier to understand than Bitcoin. For now, they seem a more viable currency.

    On the other hand, recent advances in science make me question the long term scarcity of any metal. Those familiar with free energy research know that Andrea Rossi is turning nickel into copper in his eCat energy generator (via a low energy nuclear reaction). Who knows when this initial step into real alchemy will evolve into the transmutation of a base metal into a precious metal. It may take decades, of course, but it could still render gold as “printable” as dollars. If that were to happen, how viable would gold be as a currency?

    • Jingo

      I would never adopt it. Just check out the wiki page and the ever growing frequency of hackings that steal millions of dollars worth of bitcoins. And Bitcoin mining is not plausible.

      Worse, the idea of switching to e-currency is beyond scary, because of the chance that an EMP takes out the electronic infrastructure. Forget a nation-wide EMP, but heck, have your computer fried and you lose it all. Or if you get hacked. If Bitcoin really catches on, I suspect the design of dozens of malware and viruses designed to get at Bitcoin files (the wallet.dat is easily stolen).

      It’s a nice idea, but I’d prefer a system of e-currency that is based on real physical items, like oil, silver, or gold, so in the event of a electronic shutdown you still have ownership of something real.

      The idea that a whole currency can disappear because of a solar flare, electrical storm, or if N. Korea or Iran fires an EMP is not tempting to me. And I suspect the government will find ways to monitor it and arrest people, like “stings” within the exchange services to find tax cheats.

      If you want freedom just move abroad and change citizenship. Problem solved. I have a 0% corporate tax rate where I live and a 0% income tax rate if I get rid of US citizenship. I was holding out a bit of hope for Gary Johnson and Ron. But I’ve come to realize a democracy as huge as the USA’s cannot be fixed, only small nations ever have liberty. The bigger the USA grew, the less freedom, precisely because if you allow regions too much freedom they will “grow apart” and become irreconcilable in their differences.

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