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There Is No Reason To Sell Bitcoin

April 3, 2013

There are three types of people in traditional stock markets:

Bears, Bulls, and the dishonest bastards (banking and otherwise, see Cyprus) at the top of the food chain that dominate the system (of government/economics). 

Let’s take the NYSE as an example. People may bid and they may ask for various stocks, which are tied to businesses, which are tied to other businesses and consumers, which are tied to the American people and others who buy from companies listed on the NYSE.

With Bitcoin, there is no need to sway people that trickle-down economics works (a major presidential election was based around convincing people that it worked — I am asking you, does/has it?). As it is a currency (more specifically, a way to store value against all other “good” currencies — which are backed by what? Gold? HAHA FUNNY!) appreciating in value daily why would anyone want to sell it? It makes me want to buy more — store my money in something that is controlled by nobody instead of somebody. As we all well know, somebody can be a greedy bastard.

Everyone tries so hard to fit traditional principles of economics to Bitcoin and every time I read someone’s “analysis” I can’t help but chuckle. It is in the best interests of people to hold Bitcoin because it is not tied to things of which people have control. 

This scares people in power. The people are inevitably going to control money as time goes on. How politics and economics change because of it will be an interesting thing to see.

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