Bitcoin Forum

Compared to Bitcoin gold doesn't seem real... secure. Sure you can keep it in a vault, but then you can't spend it. If you do carry it around, it's far more noticeable for robbers to steal than cash because it's heavier. It's harder to hide in your home because of metal detectors. Even vaults aren't safe without armed guards, which are expensive and sometimes untrustworthy. Bitcoin can be secured in ways that are impossible to steal, even under duress with five dollar wrenches. That way, they can't even be stolen by home invaders. Bitcoin may be volatile, but gold can be easily stolen. They are easily hidden and layered with decoys. They can be time locked better than any bank vault. Bitcoins can protect some of your wealth even when you are wrongfully judged by an imperfect society. With Bitcoin, you can travel the world and know your wealth is secure. You can have much faster access to liquidity with Bitcoin if you really need it. Bitcoin just makes you feel so much more secure. It makes you feel like credit cards used to before all the identity theft and privacy issues. Why would anyone feel personally secure with gold?

That's because it's not. The only way to make gold even approach bitcoin's level of security is if you're a billionaire who can afford to store his gold on a space station or on the moon. Other than that, you can't even play in the same league as bitcoin security-wise.

The level of security and protection that Bitcoin gives us without having to relying on violent institutions like governments is amazing. Bitcoin takes away the threat of violence because no one knows our true identity or physical location, so no one can come take what we have or do harm to us.

Hah, and then how do you spend it. Totally impractical

Agree with OP.

The idea of gold as money is somewhat similar to the core idea of Bitcoin, but with many fatal implementation bugs.

i buy RandGold (Nasdaq: GOLD) cause it has my name in it.  Rand.  liek Rand al'thor

Ask Ulbricht how that went.

Sorry, but I think gold is much more secure.
I have a deposit box in a bank which has never been robbed, while I've already lost loads of data because of hard disk failures.

Sounds like you're doing it wrong.

It's *far* easier (and cheaper) to secure (and transport) non-trivial quantities of bitcoin than non-trivial quantities of gold, for all the reasons OP noted. Dismissing all those reasons because *you* are not good at backing up your own data does not refute anything.

That box of gold can be seized by authorities at any time. Remember over the last 2 years bank accounts and safety deposit boxes have been being seized in large numbers for suspension of money laundering(for no reason other than to ask you where your money came from). It cost $20,000 to get your money/gold back if you can prove where every penny came from. Most of the accounts had $30,000 or more in them and are owned by "mom & pop" businesses, but the Feds are making a lot of money seizing accounts of innocent people right now.

the federal reserve needs a building costing millions to make, needs its own police force, accountants and many personnel. to transport it the fed needs expensive bulletproof transport.

... bitcoin only needs a pen and paper to write down a long sequence of characters and then divide it up/rearrange it into a form only the holders mind can re-organize.

If only there was a way to preemptively make a copy of your data so you can restore it when a disk fails...

Ullbricht acted like a moron in not protecting all those coins properly.
Like the old saying goes: "a fool and his money are soon parted."

At least it (gold) is safer than trusting your banks, or PP am I rite?  :)

Bitcoin transactions have weight.  So do gold bars.  What's the differences?

cash under your matress is better than banks in some cases and also useful for some purposes. but for long term safety without risk of government intervention (inflation, austerity, taxation, asset freezing, and many other things.) gold is more secure, but bitcoin is even more secure. the only issue is the predictability of future value.(dont confuse third party removal security vs value/future wealth security)

gold is predictable because its controlled by manipulation of government. but bitcoin is more fluid and people once seeing an exchange manipulating values. can simple ignore that exchange and build better ones.

bitcoin can be protected in soo many ways, either personally etched into metal, wrote on paper. stored on PC locally, stored on remote system. handed to local friend handed to remote friend. the idea's are endless

 

Well that comes down to scale.  It's alleged the exchanges are already exchanging in fractional reserves and manipulating the price of BTC.  Wait until the bigger real world whales start coming in like private funds, banks and governments who can crush those exchanges in a heart beat.

They are allegedly doing the same with paper gold. It doesn't seem to make it any more or less secure. Besides, we only have open exchanges because they are still unregulated. Regulated exchanges will be less able to engage in such activity. That's when real world whales will fill the regulated exchanges through licensed brokerage firms.

If you buy some, it will probably seem real.  The market for gold is much larger.  It has greater liquidity.

I had some gold jewelry stolen from me once. Does that count?

Bitcoin is Gold 2.0

The future is real...cool 8)

It counts.  But jewelry is at a higher risk of being stolen.  It is advertised wealth.

Actually they were hidden in my home and I hadn't worn them in years. Nobody knew I had them. Nothing else was stolen. The thief only wanted the gold jewelry. I suspect it was someone that I use to know.

I later had a laptop stolen with bitcoin wallets on it. They were encrypted and backed up.

I can't backup gold.

Spare me.



Decent solutions, including assisted wallets, insured vaults, and multi-sig are getting more and more user-friendly and idiot-proof all the time. If you don't see that this stuff will improve for the masses, and that it'll ultimately be superior in nearly every way (even for mainstream users) vs keeping hunks of metal "safe" in your special hiding place, well, then, you're particularly short-sighted.



You did not spare me. Grr.



Well...

Well stated, I'll be quoting this if you don't mind.

Well, gold is definitely more clunky and harder to send across the world.

I agree.  I am sure there are lots of cases of people getting bitcoins stolen and also lots of cases of gold getting stolen.

But gold stored properly, like in a safety deposit box (I know some are sooo paranoid to not keep it there) and Bitcoins stored safely are both really hard to steal.  (I use Coinbase's new multisig vault and again many people complain, but I don't think my coins will ever be stolen)

My father died and had things including gold in a safe deposit box that he was supposed to leave to me, they disappeared. If you have to have a separate box just for each gold asset you bequeath, then storage will get expensive.

Invest in GoldCoin <<Crypto Version>>
I am impressed how well they are doing, and the progress they had made. ^Smile^

Friendly bunch of people.

Gold you can buy in the bank and also keep in the bank. There are a special gold, which you can buy or sell easy. The only thing is that you must pay to bank for gold keeping service. There are a lot of people, which do this - in Switzerland banks for example.

Ask Switzerland about how their gold repatriation plans are going.

This is a meaningless question, folks. You can't talk about which is more real/valuable/etc without specifying quantities.

What would you prefer - one bitcoin or an ounce of gold? If your question is "one bitcoin", then I'll gladly pay you one bitcoin for your ounce of gold.

What would you prefer - ten bitcoins or an ounce of gold? If your question is "an ounce of gold', then I'll gladly sell you an ounce of gold for ten bitcoins.

Talk about meaningless. I can't even.

In my opinion, gold has, at the moment, more stable price and value in market, and much more trust in the public.
Bitcoin still have to prove itself, and become mainstream, so that other people consider seriously to replace their gold with bitcoin.
It's still long way for bitcoin to go...

Oh. And try carrying a few pounds of gold through an airport without a lot of questions. Bitcoins don't need to fly.

gold is as real as it gets. brick bars, the beauty, oh my.  but btc is "invisible" gold.  undetectable.  border-less.

TL;DR

Gold is not real.

Gold has proven itself to be one of the most durable substances on earth. It doesn’t degrade. Every ounce of gold ever mined is still around. (Excluding the small portion sent out of orbit) Gold has proven to be truly precious.

Bitcoins can only be destroyed for a brief moment in their creation during mining under unusual circumstances which likely has not happened. But if the hard drive containing the private key is buried in a landfill, those units are forever gone. You could argue that a pirate treasure chest of gold buried on an island beach and long forgotten is the same end. The bitcoin units exist on the public ledger which is copied into the cloud and thousands of hard drives around the world.  We can’t predict what may happen to bitcoin in a few hundred years but for today’s generation, so far so good. But because bitcoin is officially an experiment, we’ll have to give this one to gold.

Bitcoins can easily survive a nuclear blast if they are backed up. James Bond would never have met Pussy Galore if they had Bitcoin in 1964.

You can't really go through an airport with 50,000 USD in your pocket too without getting some questions. 

But yes, one of the great advantages of Bitcoins is how easily they can get shipped around the world.  That is a big +1. 

I'd say it is also easier to find places to spend bitcoins for goods than gold for goods.   

But gold does have its advantages too.  You could at least make jewelry out of it.  Bitcoin is bling bling too, but digitally for nerds. 

Bitcoin and Gold are ofter compared ( maybe because of mining  :D ), but they are 2 completely different things.

Bitcoin is a currency and a payment system, while Gold basically is used as long-term investment, with few application in every-day life.
Moreover, we have to say Bitcoin was borno in 2009, but Gold is considered a symbol of power and luxury for millennia and, notwithstanding highs and lows of its market, it always has a high nominal value.

Ulbricht was a noob who should have been using brain wallet and not telling anyone he even had a stash that size.

Also he had terrible opsec, running a huge darkweb market moving millions of dollars of drugs and he was on fucking FACEBOOK! What?!

On a library login account too that he signed up with government ID, wasn't it?

If you live in a fascist country where your bank account "can be seized by authorities at any time", I can only advise you to move immediately. I don't. My money's safe.

Umm, it requires internet. Gold can be physically traded (bitcoin paper wallets could but thats just fiat again..)

Gold is much more difficult to spend. I tried to sell a gold ring to many merchants on the street and none of them accept it , they all told me to go to banks and exchange it for fiat money. And when I reached bank, they took some special tools to test the purity of the gold before they could give me a price

The Internet was designed by the US military and intelligence agencies as a means to communicate even in a nuclear war. Gold can become irradiated and be destroyed or turned to liquid mercury.

The only way to "destroy" any element is basically turning it into another element altogether.You basically need to feed gold directly into a nuclear reaction to do this, not something easily done.While gold can be dissolved,it is not technically destroyed as the processes can be reversed/countered.Any lost gold isn't truly as it can be recovered .

Lost bitcoin on the other hand is effectively destroyed as it is impossible to recover it without knowing the private key, which is pretty much uncrackable.

If something like the Carrington Event happened again today

http://en.wikipedia.org/wiki/Solar_storm_of_1859

Bitcoin wouldn't exist and gold would survive :)

That blue chart was Mt.Gox (http://bitcoincharts.com/charts/mtgoxUSD#igDailyzczsg2010-11-18zeg2014-02-19ztgCzm1g10zm2g25zvzcv) before its collapse, not Bitstamp (http://bitcoincharts.com/charts/bitstampUSD#igDailyzczsg2010-11-18zeg2014-02-19ztgCzm1g10zm2g25zvzcv).

To achieve this you need extreme pressure and temperature in the magnitude of the sun's core. So good luck with that.

Or we could introduce them to antimatter, and we're getting  even more science fictiony (not that I'm complaining ;D)

I'll take both. A little gold here. Maybe even silver. Some rounds, some bars. And a little bitcoin here, there, everywhere.

Much easier to transport a micro SD card through just about anything ... and have a backup somewhere safe, just in case.

If gold is in danger of being destroyed or melting, your life is probably also in danger, so get out of there.

They've been turning gold into mercury since the 1930's but whatever. If properly backed up, bitcoins can survive any type of direct attack because it can be in multiple places at once. The point was that it's easier to keep a thumb drive in your pocket than a ten inch steel vault.

 I've heard that scientist managed to transmute(for lack of better term)  bismuth or mercury into gold in some experiment, but not the other way around at a net loss(in expense).Anyone who are have some level of knowledge in chemistry knew that gold does dissolve in mercury, but they are far from being destroyed as the gold atoms themselves still exist and can be recovered( the process is relatively simple) .To classify as being destroyed it need to be impossible to recover as the element gold no longer exist in its atomic form.As I said the only way to turn gold into lesser element(lead) was by leaving in at the centre of a nuclear reaction(they did by placing in in a nuclear reactor) for a very long time.Hardly practical nor easy.

True it is easier to keep your bitcoin secure than gold ,but unlike gold lost bitcoin can be lost forever.It is a lot easier to destroy bitcoin just simply destroy the knowledge of the private key(or by killing the person who knew it).Anything that is impossible to recover is as good a gone.


Ironically , any method(Or should I say math odds ;D ) that could recover those lost private key would effectively kill bitcoin(ominous quote"all of them,everywhere") as it destroys the security of bitcoin.

Thats pretty silly. Can you store your USB/HD/trezor/whatever on the moon? Then anyone can come to your house, find your wallet and torture you until you sing the password

Nothing is safe my friend. And lol at "you cant spent gold". As if you can spend bitcoin in a lot of places.

People seem to be under the illusion that gold sits idly in central banks. Even today gold still backs up the $. Gold will always be money as it satisfies all the characteristics of money (store of value, durable, divisible, consistent, has intrinsic value, limited in quantity, history of acceptance). BTC is more secure but it isn't a store of value or universally accepted yet.

http://i.ytimg.com/vi/YbKEwAXuiYM/maxresdefault.jpg

Bitcoin is torture proof. Sorry to disappoint.

That's why every country has been scrambling to get the gold back in their coffers lately (with the US refusing and keeping it for themselves).

They smell blood in the water for fiat money. The petrodollar is going to tank, and when it does shit is going to hit the fan globally for every fiat.

Maybe. But how long can the person who knows the private key, or knows how to get the private key, or knows how to derive the private key, or knows who the other signatories of the multi-sig keys, how long can he hold out?

What will it take to break him?

And if there is no practical hope to get the bitcoins, how long before his captors realize that? (They may even refuse to believe you. So you're screwed if you actually can't get the bitcoins.)

If you believe there are people that are that powerful and diabolical to abuse that kind of power, then Bitcoin is needed more than ever to stop their evil.

You don't need much power to kidnap and torture someone for his private keys .Any street thug would suffice.

If they think you have money, they will torture you. If you die before you give your money, they simply look for the next one who they think might have money.

So, don't ask, don't tell. Be anonymous. Low profile. And protect yourself.

I think someone mentioned a kill-switch feature on a wallet. Maybe if somebody tries to move your coins without a seed, or during a certain time, the coins will be rerouted. Then the thug would just get pissed I guess. But fuck him

Yes, that will prevent him or any other guy from getting your bitcoin.But I somehow doubt you could walk out of that situation alive at that point, or at least with all your limbs attached.

Well Bitcoin is commodity, not a crimefighter ;D

You should tell that to the guys who said this

The blockchain may still house secrets I have not yet discovered... :)

They would only find decoys unless they knew exactly how many layers deep the cold storage bitcoins are buried. Then they need to know how deep the n factor authentication is buried. Then they need to know what countries and have the authority to find where the multisignature and SSS keys are hidden. Your street thug will need "a particular set of skills" to pull that off.

Piff Paff. Bitcoin the Superhero

That's pretty close to the security Coinbase uses.

Do you not read the part about "kidnap and torture"?We're not talking about hackers here(and even they use social engineering to do so if they could).

No ,they only need to know who the person who that holds that bitcoin and torture them to hand their key. If they couldn't/refuse  to cooperate ,well too bad ,you're dead.S/he need not be a technical expert to do this , the depravity and willingness to inflict pain and fear are the only "a particular set of skills" necessary.The simplest way  break a unbreakable safe is always to get it from someone who knows the key.

No, you don't understand Bitcoin at all. Sure they can kill you, so what? They get nothing. And guess what, there are also ways to hide the information necessary for heirs to receive the bitcoins in the event of your death at a future date. I won't even get into the ways bitcoins can be used for anonymous vigilantism in the event of a death by foul play.

None of what you said is unique to bitcoin.Rich and powerful people had been doing these for centuries.

The rich and powerful usually resort to violence to achieve their ends. Bitcoin makes it trustless and non-violent to level the playing field. Their wealth will no longer be maintained by force, it will need to be earned through honesty and empathy.

I think the greater threat is the threat of death. IMO most people are not going to want to die in order to protect their bitcoin/money. Although it would be possible for someone to only give information that would allow an attacker to access a portion of their bitcoin, an attacker could potentially forcibly administer any number of drugs that makes people more willing to give up information and makes it more difficult for them to hide information

That's why you use layers. Drugs cause states of consciousness that make difficult sequences hard to recall. Keys can be made to trigger alarms that alert trusted assets that can trap or track adversaries to reveal their positions for law enforcement or other forms of justice.

Not entire true.Many of them got them by their talents(hardwork,their brains, ability to forge social connections etc) or luck,its usually the combination of those.Not all of them are despicable people ,you know.

History has taught us that those without the means to achieve thing without violence are more like to do so than those with the means(rich and powerful).There are  good reason why violent crimes and social strife are more prevalent in poorer communities rather than affluent ones .




It' hard to say that with a straight face when the playing field wasn't even violent in first place.


The prevalence of scams and frauds involving bitcoin pretty much invalidates this statement altogether.You don't even need to leave this forum go to scam (https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB8QFjAA&url=http%3A%2F%2Fwww.moneymakergroup.com%2F&ei=eoFtVIGOHsLtmQWLg4HYCg&usg=AFQjCNHONuvPF3i2o00zjJtfCbulJQVKVQ&sig2=hNv1KxGPjU_klzE0sk9Byw) promoting  (https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB8QFjAA&url=http%3A%2F%2Fwww.talkgold.com%2F&ei=0oNtVIi4FOHZmAX244KIDg&usg=AFQjCNHODkGEfDFrz_rhu6sCdaP0vB9EUA&sig2=2QfskGuENrCtdiCP2yZ1Fg) ones to find them, they'r all here where we at.

Again ,not unique to bitcoin .The fiat based system have been doing these for ages. Financial services notifying law enforcement when they notice suspicious transaction  is one of the more basic form of this.

I suppose drug cartels use Hallmark cards and candy to maintain their wealth and power. I never said that all of them do so. I can't even.

In theory, but it doesn't work in the internet age. Credit card fraud, bank hackers, ATM fraud, counterfeiting, etc. and taxpayers end up paying for them. Bitcoin makes all of those things impossible. The only major frauds that occur in Bitcoin are confidence games. They usually appeal to a person's greed and their isn't much anyone can do about someone willing to give their money away.

Ironically,some drug cartel do indeed gave candies to children in their area of power on some occasions.They use the carrot and stick method to maintain control, everybody knows that.Or  do you mean how they pay for it?By any means available to them :money, goods, favours,coercion etc .They would readily use bitcoin like any other asset that they have access to .



Then perhaps you should stop using overly generalising statement such as
Which is pretty  much false.


Are we still talking about how bitcoin isn't really more immune to torture and coercion than other value retainers or are you replying to my rebuttal of the the " could only be earned through honesty and empathy" thing.

I answered both. There's the rub. I'm saying Bitcoin *can* be immune to all known forms of torture. The tools are there, people just need to learn how to use them. Of course there will always be the option of nLockTime transactions that secure them so even having the keys won't unlock them until a specific time. The adversary would just have to wait. It will probably be a good idea for everyone to do this at some point. I'm also saying that bitcoins can't be stolen if properly secured. You're reading too much into honesty and empathy retort. Bitcoin will make fraud much less possible. "Fences make good neighbors."

This deserves its own reply. Some drug cartels employ people, build schools and road, etc. BECAUSE LAW ENFORCEMENT IS TOO AFRAID OR UNABLE TO STOP THEM!!! They are then able to win the peasants over through greed and the threat of violence.

If drug cartels were forced to use bitcoin, well first of all, they tend to be pretty stupid thugs. They would be easy pickings for cybercrime enforcement to lockdown in most cases. I can't even.

Your rub fail.This is why combining  two completely incongruous  argument chains  is considered bad form of debating .


1)Bitcoin is as immune to torture as  any other forms of value storing method.It doesn't matter if it's vault key, stronghold access, bank pin number of bitcoin private key.Your method of stopping them from gaining access to your wealth is also applicable to my other examples.There is nothing unique to bitcoin in this regard.Protecting your asset at the cost life isn't a new concept.


2)You not need to be honest or emphatic to earn bitcoin. Scumbags will be scumbags.They'll migrate wherever there's gain to be made.The thing that will protect your bitcoin is the exact same thing that protects your other assets:due diligence.After all ,fences do pre-date bitcoin.

This is another irrelevant point that'll derail this thread even more(than we already are).What this about?The need to maintain a strong central authority and good economic progression to stem  the foothold of violent crime organisation?I'm not biting( no matter scrumptious it may seems) .


Strange, did you not advocate that proper use of bitcoin could shield  the user from government oversight?I'm sure the crime lord would be smart enough to take such advice to heart.Besides if they're powerful enough to take and hold territories from the government their IT department would be similarly up to the task.


 Yes we established that already.

I disagree on both points for the same reason. Bitcoin doesn't rely on only simple keys. I'm sorry you don't understand. Try reading up on Bitcoin's features instead of repeating the same misunderstanding. FYI, using quotes means the statement is a quote and probably shouldn't be taken literally.
You keep saying things are not new, but I never claimed they were. You fail to make a point. Saying that being a scumbag is a way to earn anything won't help your case with anyone. In fact you haven't even made a relevant point let alone refuted mine.

What misunderstanding is that?That you can't torture someone to reveal their private key. The're no misunderstanding here.That statement is just not true.What you should have said that there are ways to make it harder(or even impossible) for some one to gain access to your bitcoin through implement of torture and coercion( which existed for other assets such as cash or gold long before bitcoin's existence).



Perhaps it would be better to construct your statement (or give a thought or two about them ) before typing them.


Good .so you accept that those "anti-torture"security feature aren't unique to bitcoin
 

What case is that?I believe everyone here agree that people who swindle others for self gain are scumbags.Hell. we'll applaud when these bastards got their just desserts.
Stating the truth doesn't mean I condone their act.Calling them scumbags  should tip you of to this .Are you implying that I should mince my words when addressing those dregs?


During the course of our interaction I've refuted your half baked ideas that:

1)Gold is easier  to destroy than bitcoin

2)bitcoin is immune to torture.

3)You need to be honest/emphatic to earn bitcoin.


You seems to have trouble understanding my arguments.I suggest rereading them before spewing any other poorly structured counterpoint(or inserting derail attempts)and rethink/recheck your statements before posting them, lest you want to spread misinformation(I'm sure you don't meant to) about bitcoin.

The power of tradition is such that people will hold on to their gold for long -
no matter how unsafe ir is and how much trouble it is to store and protect.

Again you are ignoring my arguments. I've perused your post history and find nothing worthwhile in contributions. I don't consider you a troll but your changing goalposts are annoying. Still I will entertain your focus on minutiae and side tracking from my phone.

1)Gold is easier  to destroy than bitcoin
I don't mean destroy in the sense of converting to pure energy. I mean rendered useless. Dump your aqua regarding into the Mariannes Trench. Gone.
Burn my bitcoin paper wallet. I have a thousand backups. Not gone.
2)bitcoin is immune to torture.
I don't have nor control my bitcoins and nobody else knowingly does either because encryption and SSS. Banks can't do that because it's not legal for banks to do with other people's money. If you torture me I will give you a decoy or two but know that you will kill me anyway so you can just suck it. If you claim mind reading powers then I won't believe you.

3)You need to be honest/emphatic to earn bitcoin.
Yeah that's a big one. I am too smart to be scammed by you (hypothetically ). If you want my money you need to kiss my ass and tell me I look fit. If you are a scumbag then you will deal with my scumbag associates.

Bill Gates and Warren Buffet were the two richest men in America last time I looked, and they're not street-fighters.

Neither has real power. Note the word "and."

IMO, Bill was outside the club and refused to play. Ergo, why he's doing all his own initiatives in Africa etc, rather than anything else.

whatever, you can't eat bitcoins!

It would be nice to have a crypto tied to a set amount of a commodity. But how is it regulated? Who is the holder of the resources? What is the starting set value? There's too many questions. On top of that let's say you chose gold and started at 100 tons of gold. You still have people mining gold and you still have other holders of gold. What then sets the value of the currency. There's too many questions to a commodity backed cryptocurrency yet I've seen those ideas tossed around.

The only thing I think that could work is if all coins were already mined and you essentially used the blockchain technology to provide for the currency exchange aspect of the commodity currency. But then what is the incentive for mining hardware and what's securing the currency if there is not plenty of mining or hashing power?

That why, in december 2013, i have choice bitcoin.
mother fucker tax on gold reseller ... too.

why no????

 ;D ;D ;D ;D ;D ;D

https://i.imgur.com/KgsOexh.jpg

The true wealthy isn't those with a publicly large net worth.  

http://en.wikipedia.org/wiki/Shadow_banking_system

The shadow banking empires have more wealth than all the physical assets on this planet.  This is possible when money has become digitized IOUs and banks have free reign in engaging in fractional reserve lending.

However, will they be looking for another vehicle to throw around 100 Trillion a year? Since regulation is looming, and Carney is on their arse, and he's a fucking honey-badger.

The first debate about money is starting today in the British Parliament, first time in 170+ years.  It looks like the game could be up.  I have a feeling they're going to mention digital currencies sometime within the debates.

http://rt.com/uk/202923-uk-parliament-future-money/

Yes, and I' will continue to ignore points that are wildly irrelevant to the issues that were  originally raised(by yourself even).I'm trying to avoid further  veering off course(hence why , I ignored the whole drug lord line). It's about time you try to do the same.


Likewise.It's nice to know that our impression of each other is quite alike.

Considering you're the one who keeps posting off tangent response (do I need to quote yours in this thread alone?) and derailing the arguments,I find that quite amusing.


Nope .Still retrievable, expensive but still.

Destroy your private key(or simply deny your access to it) , your bitcoin is gone .Completely,irrevocably ,forever, gone


Good to know .I doubt that most bitcoin user is as prepared as you.


Going off tangent again are we.Sorry,never was a chump who was  interested in conspiracy theories.Won't discuss them.


Wow! Now you're really off the rockers.That response have absolutely nothing to do with the point you've quoted.Try again.



Both were considered quite "powerful " in the respective field( in terms of influence and reach) so yeah.Those two do fit the rich and powerful archetype.

You win. Now I will ignore you.

Meh, suit yourself.I always  personally believes that the ignore button is the ultimate coward's way out ::).


As for me ,I'll continue to response to  to any post that I consider worth/warrant replying regardless who that person is (or the level of insane troll logic s/he employs) ;).

You now can buy BitGOLD and backup your Gold private keys ;)

http://www.bitsharesblocks.com/assets

The gold price has dropped by 39% since reaching an all-time high of $1 917.90 per ounce in August 2011. I guess it can't drop much more in a regulated market.

IMO, I think that was largely due to speculation in "paper gold" and electronic gold instruments, that it became apparent may not have been 100% backed, thus fractional reserve.

How do they not back them 100%? Don't they have a 100% foolproof process that is impossible to counterfeit but fast and easy to verify?

You'd think. Something smells bad in the non-physical gold market. The Fed telling Germans and others whose gold they hold they can't have it back for years has a mighty reek also.