Aritcles like this do my head in:
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[url=http://www.bloomberg.com/news/2013-09-25/lenin-s-lesson-for-frequent-fliers.html]http://www.bloomberg.com/news/2013-09-25/lenin-s-lesson-for-frequent-fliers.html[/url]
[quote]The most successful of these are credit-card reward points and frequent-flier miles. Despite their ubiquity, these private currencies have lots of problems that prevent them from being used more widely. Anyone hoping to replace government-backed money with private alternatives ([b]I’m looking at you, Bitcoin and free-banking enthusiasts[/b]) should think carefully about a recent move by Southwest Airlines.[/quote]
I decided to get involved:
[quote]Someone tell @M_C_Klein that money is just a ledger and whoever does the best job of defining it over in near future will inherit the wealth[/quote]
[url=https://twitter.com/Feathercoin/status/382999242500890626]https://twitter.com/Feathercoin/status/382999242500890626[/url]Feel free to wade in.
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I think the comparison between bitcoin / feathercoin etc and an privately run airline frequent-flier miles scheme is a little stretched. The whole point of bitcoin is to stop an owner of the currency devaluing it for personal gain e.g. quantitative easing or directly changing the value as has been done here. So is this a warning to alternative currencies or simply another reason they are preferable.
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[quote name=“kris_davison” post=“29227” timestamp=“1380200375”]
The whole point of bitcoin is to stop an owner of the currency devaluing it for personal gain e.g. quantitative easing or directly changing the value as has been done here.
[/quote]Yep, apparently journalistic standards are not a priority right now.
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[quote name=“chrisj” post=“29231” timestamp=“1380201863”]
[quote author=kris_davison link=topic=3785.msg29227#msg29227 date=1380200375]
The whole point of bitcoin is to stop an owner of the currency devaluing it for personal gain e.g. quantitative easing or directly changing the value as has been done here.
[/quote]Yep, apparently journalistic standards are not a priority right now.
[/quote]Its a media state they can do and say whatever they want because the general public is stupid/oblivious
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[quote name=“RIPPEDDRAGON” post=“29238” timestamp=“1380206922”]
[quote author=chrisj link=topic=3785.msg29231#msg29231 date=1380201863]
[quote author=kris_davison link=topic=3785.msg29227#msg29227 date=1380200375]
The whole point of bitcoin is to stop an owner of the currency devaluing it for personal gain e.g. quantitative easing or directly changing the value as has been done here.
[/quote]Yep, apparently journalistic standards are not a priority right now.
[/quote]Its a media state they can do and say whatever they want because the general public is stupid/oblivious
[/quote]The problem is most people aren’t curious enough to ask “why am I being told this, I wonder if this point of view has a counter argument?”
