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11141  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: November 30, 2014, 05:57:31 PM
Quote
no way anyone in the developed world can randomly pick up a piece of gold.

Im thinking about USA and it has vast unoccupied sections, like deserts and so on.   I realise thats not really habitable in some cases and thats why its empty but in theory, theres gold there to be found.   Im thinking even in the 1st world its possible to some extent

Im not slamming table on these points, just throwing it out there for discussion and maybe its the case thats its important to success or not.    I do believe capitalism is about people and the more the better, because all of us can achieve things of greater benefit with the right backing in theory


Also finding gold in developed world, watch this tv series: http://en.wikipedia.org/wiki/Bering_Sea_Gold    It is possible to mine gold and just pick it up off the ground right in the USA.  Not easy exactly but its there..


I hope you are right about M pesa etc, would be good to see
11142  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: November 30, 2014, 05:28:12 PM
Gold is an element created in super novas not on this planet so to some extent its total amount is limited but yea price could crash from big supply but I think its fairly regular and been proven for a while.

More then asteroids we have vast amounts of gold on this planet.   They are locked into the earth core as molten lava though, we arent going to get it easily seems like but maybe one day.   Some kind of continual supply is inevitable, it seems to be in line with global population increase though

My point about finding gold is that this is a valued asset usable by anyone.   Even the 'savages' can find a shiny rock and access this form of currency.    Why does this matter to you and me stting here in comfort, its that we all start off in the world as nobody with nothing not even able to talk.   We must pick up the tools and make our way in the world and gradually gain the benefit of knowledge and wealth created by our ancestors.  It seems to me this is a vital part overlooked that gold is so incredibly accessible by a person with absolutely nothing in the world, they can just find it.  

Bitcoin lacks this, its elitest perhaps.  Increasingly its market involvement is being constricted to just those who can design ASIC circuit boards or those who can pay them for their knowledge.   It seems this could be a flaw that if you really want to build something great, you must allow the great unwashed masses of the world to be able pick up their tools and learn how to be involved in your system of worth and we cant exclude them.  Increasingly we only want people to be btc consumers and my arguement with capitalism truely applied is that the worth is always with the people not the elite.

Just a point and I might be wrong but its another major difference between gold and bitcoin and I think its an ongoing dynamic as bitcoin becomes more difficult and gold remains random in its distribution to even just a small part this makes it more a peoples currency.
  Which is more likely to survive long term and increase in value even
11143  Economy / Speculation / easy btc on: November 30, 2014, 05:11:18 PM
Yea hehe not sure if your serious but Im talking with respect to the total supply or large amounts.  I know bitcoin is easy to buy in theory but I can also buy gold from ebay with buy it now too, I guess not instant delivery but a nearby pawn shop would also deal me from my credit card.

Really Im talking about from the source.  The gold picked up off the ground in gold rush was no small amount, it was released freely to many different people.    It created mass migration but the actual 'mining' as such was easy.  
Even today, say 1% of gold might be easy.  Not in one place but all over the planet some amount of gold is just found under a rock undiscovered, this easy gold adds up to quite alot across the planet and its given freely.

This does not apply to bitcoin, you cant get free bitcoin from the source easily.   Whats the odds of an average person on the street solving a blockchain, its not within a million percent close to 1% even.   Im just wondering if that is a flaw that will stop btc propagating as far as gold has across all cultures
11144  Other / Off-topic / Re: Am I the only girl on here? : ( on: November 30, 2014, 04:47:12 PM
I dont know you so I have no way to tell.   It doesnt really matter so I wouldnt worry about it.    I can believe people dont know how to host pictures but its fairly simple

Some websites to try would be http://tinypic.com and http://imgur.com
Have the picture on your desktop and you should be able to find it and host it.  Imgur actually allows drag and drop and other ways to make it simple.  
When you have the picture hosted online you end up with a link from that website, so imgur.com/pic.jpg  and you can then just post that link here.    You cannot link to your desktop, so it must be a http link.
Or quite a few just put it on their facebook and you could just link from there I think.  tumblr is another site


https://i.imgur.com/0RoLAwl.png
11145  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: November 30, 2014, 04:37:52 PM
This gold mining argument still seems a bit silly and perhaps circular to me. We use gold (a rare and difficult-to-mine substance) for the same reason we need Bitcoin mining: to replace fragile trust. If everyone were trustworthy, we could use shiny pebbles instead of gold coins. No resources would be needed to "mine" pebbles, you just pick them up off the ground. Everyone would be trusted not to pick up pebbles he didn't deserve, and only obtain them through trade or in some other socially approved manner (perhaps as a form of "guaranteed minimum income", every person would be allowed to pick up one pebble per day.


Yea I always wonder what is the point to bitcoin difficulty.   Surely its not a self assembled mountain ready for the fresh ascent of miners every day in order to claim a prize.  It must make the protocol more secure right, some kind of offshoot benefit would be good to hear.   Not just we needed to stop it being easy to solve.   I mean if it werent for high diff we could process transactions in 1 minute or less instead maybe though I realise this makes cohesion of the chain harder


Quote from: David Andolfatto
Let me be clear about this. Bitcoin costs zero to produce. If one had control over the protocol, one could instantly and costlessly create as many bitcoins as one wanted. No environmental waste, no effort needed. The same is not true of gold.

And he's right: if one had control over the protocol, one could instantly and costlessly create as many bitcoins as one wanted…
If is for children and shitcoins. A fallacious argument and failed attempt at philosophy. If I could find an asteroid made of gold and catch it with a very big net I could crash the gold market.
Not quite true, look up the California gold rush.   When western settlers first arrived they found gold 'pebbles' on the floor, literally. It had not been moved since the ice age since the native americans in that area placed little value on accumulating it.
Its still the case to a small extent that gold is just found on the surface not hard mined out of the rock.    You could argue about smelting or purity but a gold nugget found can just be roughly as it is if people wanted to and in some case nuggets are left as is

In comparison there is no easy bitcoin that I know of, perhaps we'd have greater worldwide involvement if some of those billion people could just get lucky and get some bitcoin.   I know in theory a block can be solved easily but its not a case of picking it off the ground is it.   I dont have a ASIC setup randomly trying, its almost pointless on old devices and worse then the lottery.
I reckon its a serious point that the common people need some access to new bitcoin not just those designing asic.   In Zimbabwe during their currency collapse people dug gold out of the river banks, hard work but possible with bare hands almost and it saved them from starvation in some cases.   Because of this accessibility gold is unlikely to ever be forgotten by the masses

11146  Economy / Speculation / John McClane on: November 30, 2014, 04:22:08 PM
I totally agree. Bitcoin ETF and CFTC will mess up bitcoin the same way gold ETF messed up gold.
There is NOT enough gold behind gold ETF, options, futures, swaps, etc, etc. Most of it is just paper as in everything else.
As soon as bitcoin is financialized, its long term future will dim.
That does not mean that beforehand there will not be a final "financial bubble" in bitcoin to 5000-10000.

This event already occured with Mt Gox.  It was not 100% backed, depositors there were taking part in a leveraged scheme they were not aware of.    The collapse you are describing is already apparent in the price now with confidence of many shaken in how bitcoin allowed this deception so easily.
    
I dont think we have a solution except the obvious that convenience is not a good reason to keep the majority of your holdings in one place not fully under your control and this was a failure of trust in one man or one website not the bitcoin protocol itself.   Similar failings can occur with gold deposits and many central banks store their gold in new york federal reserve who struggle to return it on demand
11147  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com on: November 30, 2014, 04:42:11 AM
This is not the first time Ive heard of such problems, the thing is any coin must pass such tests.    If you do get volume and popularity you would also draw more attention from negative elements who will do this on purpose.    Even if you get lucky and everyone is nice and cooperative, it would happen accidentally as many pools hunt out the most profitable coins.  As your coin is traded and difficulty is public this is just something will that occur.  Maybe Terk could be labelled a bad guy but this is just a naturally occurring problem anyway, theres a few pools like this one

I hope you find a way past and your coin is successful
11148  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: November 30, 2014, 04:22:32 AM
I think physical mining is the largest determination.   Paper or futures contracts is more short term effect, certainly possible but not why gold has fallen for so long now.
The largest buyer of gold is China.  The largest producer of gold is China and also I think the largest importer and maybe largest store of gold would be China.   China has reported they have no increase in gold holdings, they dont export any gold and they operate the most mining but it amounts to nothing according to them.    That dynamic whatever is happening there, is far more significant then what Chicago or London is upto

https://www.bullionstar.com/blog/koos-jansen/total-chinese-gold-reserves-nearly-16000t/
http://www.businessinsider.com/gold-reserves-by-country-2012-8?op=1&IR=T
11149  Economy / Speculation / Re: Difficulty going down on: November 30, 2014, 04:16:58 AM
it won't happen.

hypoteticaly speaking ... what if it does happen ?

It's just another indication of the bear market, which started at the beginning of 2014 and in all likelihood will go on for another 11-12 months.

Deflation can occur while growth in market takes place which would mean bitcoin is rising in total value.   Price alone doesnt tell us even though personally we might prefer the price to rise so that we naturally can hold and gain.  This doesnt mean that bitcoin overall is not going to do better at a lower price, thats why the free market is superior to anything manipulated, often individual bias is not conclusive to growth.   In the end we all want bitcoin to be stronger and more widely used, if lower price is what is needed then great; mostly the greater worry is that its not going to be used at all

I agree difficulty is unlikely to go down, that was more often with a majority of personal small mining was the case
11150  Economy / Speculation / Re: Black Friday | Cyber Monday dump to FIAT, a concern? on: November 30, 2014, 03:59:31 AM
id be more concerned about the 50k auction.
+1. The money in bitcoin now is not consumer money, it's investor money. Whether or not they want to go shopping is irrelevant.

I mostly sell my bitcoin by buying goods.  No doubt I should be clever and speculate with best offers available for cash but it seems less hassle to deal with a shop with its various guarantees and return policies.   I think if bitcoin suddenly doubled in value I could in theory return my product and get my bitcoin returned to me, upto about 10 days where I live.
   Seems shop spending is the best way to use btc, otherwise sure I guess I might be an investor though I think that applies to bitpay the company itself more then those who use it and ditto the exchanges
11151  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: November 30, 2014, 03:51:49 AM
Sunday is a big moment for gold.

It has been hovering lately and a no vote will probably see it tumble.

Bitcoin OTOH has been a little uppish.

If gold dumps on a 'no' vote and btc maintains or rises, this may finally signal the divergence that Cypher has been calling for.

I think surveys are already showing a 50% in favour of gold backing to the Swiss will not go ahead.    The market will have already kept track of the likelyhood of such things and I dont believe that much of the recent gold rise is really to do with this vote. 
When scotland was voting it had some surveys showing it was possibly viable to go ahead with its split.  It kicked up quite alot of dust before the vote.   Basically the surprise now would be if the swiss vote was yes and we have a big surprise move to the upside possibly.
I also dont think it will occur, the population are not especially frightened of their tracking Euro or general moves.  On general principle it would be best to go ahead but most people now see gold as archaic, any change to that attitude would be major news worth investing in
11152  Economy / Economics / Re: Can Bitcoin Liberate Gold? on: November 30, 2014, 03:21:47 AM
I don't think it is easy. The elite bankers in London wouldn't let it happen.

If gold has value as a reliable asset it wont be controlled exclusively by bankers in one country.   Either its a useful capitalist asset of exchange or its as flawed as dollar issued to serve politics.

Bitcoin has similar value from independance alledgely but I think they differ greatly in their makeup.  Gold is a heavy, hard to store asset and naturally exchange is slower and subject to ownership and legal controls.    Bitcoin is instant, light and incredibly easy to store, exchange, transfer and not subject to legal disputes and other hang ups.   Connecting the two will probably be done by exchange or proprietary company control and I dont see them easily making a gold digi coin as such.   I hope its possible, just seems too hard like put clouds in a jar or something
11153  Economy / Economics / Re: Japan's slip into surprise recession paves way for tax delay, snap poll on: November 30, 2014, 03:13:07 AM
If you believe rainbows are magical you may be surprised infinitely that a pot of gold is never found at the end of one.
  Yet again we are surprised that more QE is not a solution to top lesser amounts of QE for stimulating real growth in an economy.  It does raise prices and weaken currency which lowers wage value and quite logically reduces the ability of the common shopper to buy as much goods as previous to the QE being engaged.  That'd be ok if production and exports rose but apparently they didnt and Japanese (working) population is declining as is China
11154  Economy / Economics / Re: Was Bitcoin actually just a Pump and Dump? on: November 30, 2014, 03:07:25 AM
No. If this was the case Satoshi would have dumped his coins and bought his own island by now. That's not to say he wont dump them in the future but there's always the risk.

Someone has to hoard coins to make them valuable... if the bank hoarded Camel shit... it will too become a priced object...

Imagine all those taxes on buying or having a camel... and camel food taxes and prices... Let alone the risks of having a camel as a mascot...

Camel shit would be the gold standard.

I guess you were joking but the example doesnt apply at all.  Just on basic supply and demand, there is a very large supply of camel crap so a bank would need to store giant amounts.
     Im going to blow your mind right now and say you have accidentally named a tradable commodity, apparently animal dung can be used as a fuel for fires.   It is possible that people do store, sell and use it as something of value, not in the west but where animals commonly the most valuable assets people own then yes it could be a kind of loose currency.

It does not compare to gold as it naturally degrades over time and as said above the supply demand is not good for long term price stability and wealth accumulation is unlikely to say the least!   Its also used to coat houses I think, animals eat alot of grass which makes it a building material also.    Sorry for anyone grossed out Cheesy
11155  Economy / Services / Re: Wood Collectors Bitcoin Art on: November 30, 2014, 03:00:32 AM
Not to be too morbid but would you make an entire coffin if someone requested a design ?   I have heard of extremely elaborate designs in one particular African country as its part of their culture so I just wondered how big do your pieces go.

A quick google, the country is Ghana
11156  Economy / Economics / Re: Dollar coming to an end on: November 30, 2014, 02:44:55 AM
It is already a mess, the main thing is when a majority of people realise this.  China is one of the largest holders of dollar debt but their people are not free to explore value of the dollar and their currency or national worth as party officials have a policy of supporting USA trade by a fixed exchange rate.
If I was some random Chinese person living on 2nd world goods I might spend a bit and upgrade my circumstances, if the whole nation did that it would mean many dollars stored as US treasury debt are spent globally.   That value would also go back to China instead of residing in the budgets of Washington accounts, it would alter many things.

Japan also has a strange situation where the country has debt a few times larger then the whole country makes total in a year.   Its certainly already a mess, but the velocity of this money is low and captured so we have a stagnant situation.   A healthy economy would be liquidate this value to better use but politics currently prevents it.   The people are placated by welfare spending and opacity of this lost value
11157  Other / Off-topic / Re: Have you bought something that you regret? on: November 30, 2014, 02:30:19 AM
I thought the litecoin was goingurto be next big thing so I bought r9 280x, 7950 graphic cards along with other computer stuff (spent over 2 grand) and sadly, I have turned it on twice.

This was in feb.
In February they were expecting ASIC for litecoin to arrive so its not surprising old hardware was not that relevant long term.    You can use those cards or sell them to other people who will use them for their primary purpose of gaming.   You are pretty well off compared to most people who buy mining hardware and end up stuck with as it really does nothing else, so far as I know anyway

Butterflylabs  #saynomore
why are you using hashtags on a bitcoin forum

Is that a problem? Smiley

Im allergic to hashtags, they bring me out in hives Sad

11158  Other / Off-topic / Re: Am I the only girl on here? : ( on: November 30, 2014, 02:04:00 AM
Send me pics, I'll vouch for you.  Dont you have to write in marker pen on a photo or something like that and then hold it, how does one verify exactly.   Not that you should have to, its not really most relevant to crypto encryption as a currency Tongue
11159  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][RDD] Reddcoin The Social Currency [PoSV] Electrum Wallet 1.0.2 on: November 29, 2014, 03:39:52 AM
I noticed alot more bets happening for Esports games on Reddybet.com    Kind of a cool way to use the currency on professional games if you play online multiplayer anyway you might have an interest in checking it out.   I gained about 30% quite easily as people often pick favourites when many games are still close to even odds
11160  Other / Off-topic / Re: Am I the only girl on here? : ( on: November 29, 2014, 03:09:54 AM
I remember there was an alt coin setup called girl coin or something unimaginative.  Pretty sure it was a guy running it all along  as it was just a setup scam for prepayment.  Which sums the problem more or less that the whole thing here more often tends to get highjacked.   Dont take anything personally but you are outnumbered I guess,   you might have more luck from the other end of the equation and try to introduce bitcoin into places like etsy where theres a greater percentage of women.  Plus they could actually benefit from someone with knowledge about how this could reduce their costs/chargebacks, etc
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