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The first post I ever made online about Bitcoin, July 6th 2011. I think it still holds up today. With the thread and people's arguments about it.

All Cryptocurrencies

by COINS NEWS 130 Views

This archived post is the first thing I ever said online about Bitcoin.

"I first discovered these Monday and was fascinated by just about every video I watched and article I read. I have a Bitcoin wallet now with an astonishing 1 and a half cents in it and will probably be giving it a try with some disposable income in the near future.

I'm also fascinated by the way these fairly quickly surpassed the U.S. dollar in value and what we'll be able to learn about a currency that operates under sheer supply and demand forces without "helpful" oversights and regulations. The $500,000 "theft" on one of the exchange sites caused a pseudo-crash that lasted mere minutes before the currency rebounded on its own.

In many ways I would think this a libertarian wet-dream. And a great way to test some free-market theories that have been debated endlessly with a shortage of objective, modern examples.

On top of all that, it's also evidence that the internet's free trade possibilities will eventually destroy any government's ability to stop its citizens from participating in voluntary private transactions. Bitcoin seems to "fund" a lot of black market activity, including drugs and online poker, but obviously this new spike in "evil" crimes against the self has had no apparent negative effect on society. We shall see if one emerges, since many people love to claim that these sorts of things must be controlled by well-meaning overseers of people's personal freedoms...but of course, regardless, it appears that the nanny-wand is being forcefully removed from big-government and big-government voter's hands...and individual freedom is going to take over whether they like it or not. We can only stand back and observe the results. I wouldn't have it any other way."

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I still stand by it. Though I don't think a lot of other people would do the same with what they said. If you scroll down you'll find the guy threatening to punch me and others in the face for saying they were worth $10, among other things.

I made this post the day after I first heard of it. I was always interested in economics, and had gotten hammered when the government banned online poker early that year, which is what led me to look into alternative ways to use money online and eventually find out about "Bitcoins." I realized immediately, with my limited understanding of cryptography, that the description of how it worked was at least very sound, and I saw also that it was the first chance ever to solve the problem of human corruption and centralization that got in the way of nearly everything we've ever tried to do as a species.

The rest of my posts in the thread are all still there too, my opinions have not changed.

submitted by /u/EGarrett
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