I won’t answer your question either, Im starting to feel like a troll here. All I have to say is that is the fundamental question here. Keep an open mind and you will realize that it is backed up by peoples full faith and credit it’s network. Just like the dollar is backed up by the full faith and credit of it’s network. The difference is that the network behind the dollar small, and centralized an has been corrupted. The network behind bitcoin is vast and decentralized thus it can’t be manipulated or corrupted.
Any system with human intervention will have corruption. This just opens the door for hackers. For years we hear how safe Apple is and unsafe Microsoft is, both had major internet flaws just in the last couple of months. Anything electronic is vulnerable to hacking and corruption.
" The network behind bitcoin is vast and decentralized thus it can’t be manipulated or corrupted."
Ummm, It sounds like you're trying really hard to say that bitcoin isn't hackable and that simply isn't the case.
bitcoin is open source. so flaws can be detected easily and corrected easily.
bitcoin had problems in the past that got fixed often within 30 minutes.
it is not a product or company. get that in your head. it's a protocol like http, email or tcpip.
and yes, there are ways to screw with bitcoin, but they require half a billion dollars minimum and can be dealt with in a very short amount of time with no cost, so bitcoin is more secure than banks or the dollar, since both can get hacked easier and the dollar gets hacked by the fed every day and they print more and more.
 May 14, 2014 at 8:34am
My advice to everyone here. It’s not about bitcoin. It’s about the blockchain. I advise everyone to learn about the blockchain. If you do that and can explain how the blockchain has nothing valuable to contribute then I would love to here it. Until then, the blockchain will go down in history as the most important technological advancement since the internet. Bitcoin is only the first application of the blockchain. Soon you will have contracts, stocks, your identity, patents, everything that requires trusted verification on the blockchain. Everything is about to change because of this.
 May 14, 2014 at 8:21am
Bitcoin is the truest form of capitalism we have ever seen. It is 100% voluntary, the price is 100% emergent, the regulation is built into the software and the software is open for anyone to look at and scrutinize.
May 14, 2014 at 8:17am
Also if there was an EMP what good is having gold going to be?
 May 14, 2014 at 8:15am
Only if the EMP effect is global. As long as there are two computers on earth that are connected and running the blockchain the info will be maintained. And if that ever happens the only currency on earth that will be worth a damn are guns, bullets, food and water.
Also if there was an EMP what good is having gold going to be?
 May 14, 2014 at 8:09am
Great question! Here is the answer and it is the best part of bitcoin. There are millions of people running bitcoin software on there computer that is constantly watching the blockchain and helping to verify transactions. Then there are also a large number of people who have invested in dedicated hardware to compute the “proof of work” functions. All these computers on the bitcoin network are all keeping an eye on the blockchain at all times to make sure everything adds up. The computing power of this network today is 500 time more powerful than the top 5 supercomputers on earth combined. This is why bitcoin is uncontrollable from any centralized authority.
 May 14, 2014 at 8:01am
Solid points. Anyone can make a facebook2 or a twitter2 to compete with facebook and twitter right? But facebook is worth billions because it has reached a “network effect.” Facebook has a huge network behind it that is why it is valuable. Bitcoin has reached this “network effect” as well. Now you are correct that there are many other bitcoin clones out there, litecoin, dogecoin, etc. But they will exist on the edges until a weakness in bitcoin’s programming are exposed. If that every happened it would be no different than if something happened to facebook, everyone would move to myspace. So my point is that bitcoin might not be the solution. But crypto currencies are the solution.
By the way, there is a canadian startup that is issuing digital shares of physical gold. Something you might want to follow. It’s called Minacoin.
 May 14, 2014 at 7:45am
All bitcoin are on the blockchain (ledger). To have access to transfer, receive, or send, bitcoin over the blockchain you need the public keys to receive, and private keys to send. When I create a wallet on bitaddress.org I print it out on a peice of paper, then I tranfer my bitcoin from the exchange wallet to my “paper wallet”. At no time are the paper wallet keys saved on my computer. So the only way someone can steal those bitcoin from me is by physically breaking into my house and stealing those pieces of paper. It is possible to memorize your private keys and that would make it 100% impossible to steal. My advice to noobs is if you don’t have the private keys to your bitcoin than you don’t own your bitcoin. This is how people loose it or get ripped off. They trusted their keys to a third party. Hope this helped.
“This is the last stand on Earth. If we loose freedom here there is no place for us to go.”- Ronald Reagan.
May 8, 2013 at 5:23pm
These fighter videos give me the chills. I would love to take a ride in one.
January 1, 2013 at 9:55am
I love it. When a democrat is in office it’s “lets give up on the constitution,” but when there is a republican is in office everything is unconstitutional. Ex: Iraq war had congressional approval, Libya didn’t. Bush warrantless wire tapping illegal, Obama wiretapping is okay. Patriot act is illegal under Bush, it’s fine under Obama. Enemy combatants are entitled to constitutional protections five years ago, Obama assasinated an American Citizen with a drone.
Watch, the next time we have a republican president they’ll be calling Obama Care unconstitutional.
December 27, 2012 at 6:04am
December 23, 2012 at 8:39pm
December 23, 2012 at 6:43am
I can tell by the way this guy hopped the rail he’s a hockey playah!!! Nicely done!
September 1, 2012 at 11:58am
Time for a knee jerk government ban on something. Wonder what they will go after…. Party buses, double decker buses, emergency hatches, overpasses?
August 28, 2012 at 6:23am
Get used to it. It’s the democrat campaign strategy. Link every argument with racism. I liked how Matthews refers to “winning.” It reveals a lot about what he perceives his role to be. Debbie Waserman Shultz of the media.