From LaVern F. Isely
Monroe
To the editor:
For our country, which is already a debtor nation and getting worse, to think they could revitalize the Bitcoin industry is ridiculous. Their solution is to start one big exchange worldwide to handle a growing, so-called currency that has no real proven value, other than the fact that you can move it around the world so fast with the use of computers that one big clearinghouse would look great in the U.S. one minute, bankrupt in the next. Does speed alone make something a real asset like land, that just lays there? Good land that can grow crops or maybe have oil underneath it, which is another asset? Or hilly land or mountains that may be loaded with gold or silver? Lead or coal?
It's what those commercial banks, which are conservatively run, call real tangible assets, something you can get your hands on. Bitcoins have been looking so bad, China and Russia are considering outlawing them altogether, according to an article in the March 3-9, 2014 issue of Bloomberg Businessweek on page 12 titled "Bloomberg View: Time For Smarter Rules on Digital Money." There's another article in the same issue on page 32 written by Joshua Brustein, Brad Stone and Diane Brady titled "Technology: Mt. Goxalypse Now!"
Japan decided to have no regulations. A Bitcoin company, Mt. Gox, based in Japan, went bankrupt and lost roughly $400 million. I would say the digital trade market with all their magic didn't move the money fast enough. One customer has been trying for three months to get his money out and was stymied by Mt. Gox and he wouldn't even say how much he lost.
Now, our country, which thinks they can revitalize the Bitcoin industry, who hasn't even regulated or explained the toxic derivative market, can have one giant worldwide bank handling all these phony currencies to ever really work because, people, when you go down to your local bank to get money to pay your bills, like to know what is going on.
It may be an old-fashioned banking system that these smaller towns have but I sure love the variety in the number of banks, making it a real democracy, because we have a choice to change if we wish too, rather than these big investment banks that are growing ever bigger, where they are talking about having one super bank.
Monroe
To the editor:
For our country, which is already a debtor nation and getting worse, to think they could revitalize the Bitcoin industry is ridiculous. Their solution is to start one big exchange worldwide to handle a growing, so-called currency that has no real proven value, other than the fact that you can move it around the world so fast with the use of computers that one big clearinghouse would look great in the U.S. one minute, bankrupt in the next. Does speed alone make something a real asset like land, that just lays there? Good land that can grow crops or maybe have oil underneath it, which is another asset? Or hilly land or mountains that may be loaded with gold or silver? Lead or coal?
It's what those commercial banks, which are conservatively run, call real tangible assets, something you can get your hands on. Bitcoins have been looking so bad, China and Russia are considering outlawing them altogether, according to an article in the March 3-9, 2014 issue of Bloomberg Businessweek on page 12 titled "Bloomberg View: Time For Smarter Rules on Digital Money." There's another article in the same issue on page 32 written by Joshua Brustein, Brad Stone and Diane Brady titled "Technology: Mt. Goxalypse Now!"
Japan decided to have no regulations. A Bitcoin company, Mt. Gox, based in Japan, went bankrupt and lost roughly $400 million. I would say the digital trade market with all their magic didn't move the money fast enough. One customer has been trying for three months to get his money out and was stymied by Mt. Gox and he wouldn't even say how much he lost.
Now, our country, which thinks they can revitalize the Bitcoin industry, who hasn't even regulated or explained the toxic derivative market, can have one giant worldwide bank handling all these phony currencies to ever really work because, people, when you go down to your local bank to get money to pay your bills, like to know what is going on.
It may be an old-fashioned banking system that these smaller towns have but I sure love the variety in the number of banks, making it a real democracy, because we have a choice to change if we wish too, rather than these big investment banks that are growing ever bigger, where they are talking about having one super bank.
