All4One:
>GOLD IS A FINITE RESOURCE.
>It is backed by a big industry and is stored by all central banks as a reserve for emergencies.
>You cannot copy GOLD it is a pure metal on the elemental list.
Correct.
>Bitcoins are an infinite piece of programming code.
Poorly constructed false statement. If you are referring to the blockchain (Think of this as a transaction log), it has the potential to be of almost infinite proportions as more people make transactions.
>There can be any amount in being at any time.
False. There can only be slightly less than 21 million once all of the bitcoins have been mined. This fact is garenteed by a democratic process of node consensus (Assumes at least 51% of nodes are honest)
>Bitcoins can be created by anyone who has the code.
Misleading statement. It is true that you could create your own client to interface with the block chain and try to manipulate a number of aspects including the number of bitcoins in circulation, or who owns which bitcoins on the network. But your efforts would be futile as more than 51% of the nodes on the network would not accept this new information as it contradicts the transaction log that they know is true through democratic processees.
>It is not subject to rules or regulations which means the people that hold the code can do whatever the hell they want with it.
False and misleading on all counts. Bitcoin is subject to the pure rule of democratic process (That at least 51% of nodes are honest). It is true that somebody who 'holds the code' can do anything they want with it but what would be the point, your changes would be rejected by every other node on the network. I know it's hard for many in the Soviet Socialist Western Empire to understand the concept of free market when they're drowning in a paper ponzi scheme that is fruitlessly managed by socialist central banks to halt collapse, but much less regulation would be required in any system if money creation (Fraud) wasn't legalised by our own government for the financial sector.
>Websites dealing in bit coins have not license or regulatory process.
Again your anti-free market babbling does concern me. If a website or an individual is involved in illicit activities through the use of bitcoins, law enforcement can simply apply for a court order which would require an ISP to hand over the IP address associated with the suspect. This is how a civilised society would uphold the law.
>It is not accepted world wide
Cars didn't become mainstream until decades after they were invented, what's your point?
>You cant use it as money
False. Money Definition: A medium that can be exchanged for goods and services and is used as a measure of their values on the market. You can use it as money, ie the exchange of goods and services and this has been happening for some time now (http://bitcoin.travel/)
>and you cant buy groceries with it.
Also False, again check this website for merchants that already do: http://bitcoin.travel/
>This is not the forum for invisible computer codes.
>Find youre own forume.
Computer codes are not invisible, they are interprable if you have the knowledge to understand it. Although it is only human to reinforce the status quo belief as you have done without considering the evidence, questioning ones own ideals with worthy critism is one of the greatest steps you can take.
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