Investing In Bitcoin - Business Insider

Investing In Bitcoin - Business Insider

 Henry likes Bitcoin. I think it is unAmerican:

 It is my view that any cashless society is for the purpose of the bankers controlling all digital dollars. It is dangerous and unamerican. I don't agree with Ron Paul on much, but I totally agree with him on this, bitcoin can't put cash in your pocket.

So I posted this response to Henry in the comment section:


But there are many places cash transactions are necessary. We all know the bankers want a cashless society so they can control all the money. As bad as Cyprus was, it would have been a whole lot worse if you couldn't pull any cash out. Or did you forget that. Did you not hear that Bernanke said it was unlikely Cyprus would happen here, which means it could happen here? Notice he didn't say it could not happen here?

But we learned from Ellen Brown that the money you put in your bank is not yours. Did you know it is a loan to the bank and technically belongs to the bank and not you?

Does that reassure you? :)
Anyway, I think it is not the American way to have your money forced on loan to a bank. The real question is whether bitcoin is deposited in a bank or if it is separate from a bank and free from the powers of confiscation that banks have over dollars.

It would only be better than dollars if it were free from confiscation and I don't know how that would be certain.

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