Some reasons why I think bitcoin will never last

Here are just some of the reasons I see bitcoin never becoming commonplace, and probably even fading into history.

  • allows for easier money laundering
  • provides easier ways to fund terrorism
  • allows for ransomware creators (like cryptolocker) to anoymously accept ransom payments for their ransomware/malware
  • allows for easy and high value theft (here is another great look at high value btc theft)
  • can easily be lost if your digital wallet isn't backed up, like a 9 million USD loss
  • is not protected or here is another great look at high value btc theft
  • while not inflation proof currently extremely volatile
  • may cross all borders but in Russia they've been banned, several other countries looking at legislation, China has told it's banks DO NOT TOUCH essentially
  • if it starts to catch on muggers will approach you "transfer your btc to this wallet!!!" they then press a button on their custom app and it starts bouncing around dozens of wallets effectively becoming unrecoverable even if they are apprehended by authorities.
  • actually not a very fast way to transfer money, can take 9 to 19 minutes or more to move from one wallet to another, man I'd hate to wait in a drive-thru line for that
  • not everyone accepts it for payment, most likely never will and the number of institutions allowing you to to exchange for physical currencies are few and shrinking in number due to legislation in parent countries as well as hacking & DDOS attacks.
  • has given birth to a whole new form of malware that infects systems for the sole purpose of turning them into mining zombies for distributed mining
  • would require lots of new regulations before you could use it to invest with, to avoid money laundering and insider trading
  • once all 21 million BTC have been made, if it were to catch on and be a dominating currency prices on things would be terribly inconvenient, a Chevrolet Impala might be 1BTC while McDonalds would have a 0.00004347826 BTC menu (assuming the car was 23k USD)...

To expand on that last point... it would actually be far more horrible on the fractions, currently 7bn people alive, potential for a total of 21m BTC...that would be 0.003BTC for each person, if the population were 8.5BN by then... 0.00233333333BTC per person alive. Whereas there was approximately $1.25 trillion in circulation as of February 19, 2014, of which $1.2 trillion was in Federal Reserve notes which would be 178.571428571 USD per person currently alive... but only a fraction of the world trades on the dollar. Chiefly just the United States, so 350m or so people. A lot of the arguments for BTC 'oh it's a global currency everyone can use' yeah, if everyone wants to become experts at decimal places to the tenmillionths or beyond.

I don't know about you, but I'd rather say make 10$ an hour than make 0.0004347826BTC an hour. People aren't going to want to mess with insane decimal places.

 

Obama, Congress and minimum wage

Well Obama just raised federal contractor salary and Congress has a bill to raise minimum wage period to 10.10, if that happens I'll go from making double minimum wage to making 1.4x minimum wage in a skilled job, effectively neutering my income and requiring me to get a second job to keep the same purchasing power.

When you raise the minimum wage, you don't help anyone, you only screw people that make more than minimum wage. Raise minimum wage and the cost of EVERYTHING goes up. Want to give people more money? Lower taxes.

It has taken me over seven and a half years to get my salary from around 11$ an hour to a little over 14$ an hour, when I started minimum wage was less than 6$, now they want it to be 10.10... I have busted my butt in a job for seven and a half years and now they want every underachiever that says "do you want fries with that" to make almost as much as me. Insanity, this will just generate more tax revenue and drive the cost of goods up (which will also drive sales tax revenue up). Who wins if this minimum wage increase goes through? Oh that's right, the government.

G2 Research RIP ammo

Do NOT buy G2 Research RIP ammo, having this in your carry weaponsystem automatically makes it MALICIOUS INTENT meaning you lose in court if you have to defend yourself.

For carry rounds: must be factory ammunition, must not be reloads, ideally you want something multiple police departments carry, you want something that is a big brand not some niche-company. Mags: you don't want your carry mags to be stamped LE USE ONLY or LAW ENFORCEMENT ONLY. Trigger, you want the factory trigger with ABSOLUTELY NO ADJUSTMENTS made that means no smoothing of the action outside of use. You don't want grim repaer grips, you don't want any vengefeul sayings/symbols/bible verses. All of these things show malicious intent. Your self-defense firearm just became a weapon, you are probably going to prison if you defend yourself and will also be sued and lose for wrongful death/wrongful injury if they survive. Even in cases where the DA doesn't press charges for self-defense, you still almost ALWAYS get sued in civil court and usually lose.

They also claim it will go through nearly any material, including heavy winter clothing... yet they don't shoot a single piece of clothing. They shoot a windshield, not in a car (this automatically makes the windshield considerably more fragile), they don't shoot a winter work coat because they know it's going to almost certainly stop it from penetrating, a water balloon is not a person, it appears to miss some of the ballistic gel (meaning it falls apart before hitting anything) etc.

Columbia, Maryland shopping mall shooting

in

Earlier today at least one suspect began firing shots in a Columbia, Maryland shoping mall. At this time at least 3 are confirmed dead. Not to cheapen the deaths of the victims but I suspect this mall was a 'gun free zone'. Gun free zones DO NOT WORK, clearly. The media and anti-gun movement are going to try and use this to further support stripping the right to bear arms from sane and upright citizens.

 

First, I urge everyone to go to http://www.gunfacts.info/ before believing any anti-firearm propaganda.

Second, I'd like to recommend the following books to both firearm owners and those that may have questions or concerns about firearms. Please I urge you to educate yourself before joining the anti-gun movement.

 

And if this makes you want to start carrying to protect yourself and your family, I urge you to seek proper training in your area as well as reading the book  Gun Laws By State - Reciprocity and Gun Laws Quick Reference Guide - 2014 Edition