I see where you're coming from. Actually i agree with Peter Schiff on the current economic situation and what will eventually happen. The difficult thing is, how long it will take. Schiff Recommends buying gold. However if you had followed this advice from the beginning of the year, you'd be underwater. It could conceivabley take a long time for these economic predictions to play out. In the mean time, you could be loosing money.
The point to own physical gold is not to gain, but as insurance in case of economic collapse. The "wealth transfer" is a side effect of it, because if you do not lose when all are losing, you are becoming wealthier compared to them. And after the tempest is past, you are able to convert gold in productive assets (houses, shares of companies, land and so on). I will write some stuff to reply to this,. What is the point of investing? To increase the value of your assets, right? It's a money making exercise (and hopefully not money loosing). Buying gold is an investment therefore u are looking to make money. Also, when the tempest is past, it is a bad time to convert , I guess u mean sell , your gold because everybody else will be doing the Same. To be successful in investing u need to be ahead of everybody else . You need to be different, but also to be right when others are wrong . So the best time to sell would be when everybody is buying . There is no such thing as insurance in investing. Investing is about making bets on the future. It is about predicting the future basically. It's also about avoiding doing stupid things and loosing your savings. /rant |
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Yeah, I hear Zuck is really good mates with the twins after the law suit - wants to make them rich  Let's say you could become trillionaire by making your old enemies billionaires. What would you do? If its riskless, i would do it. Enemies one day, friends the next |
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I see where you're coming from. Actually i agree with Peter Schiff on the current economic situation and what will eventually happen. The difficult thing is, how long it will take. Schiff Recommends buying gold. However if you had followed this advice from the beginning of the year, you'd be underwater. It could conceivabley take a long time for these economic predictions to play out. In the mean time, you could be loosing money. |
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Please make sure the code is well designed this time around. I ended up looking through the bitcoinica code for a client couple months ago. Let's just say, the software engineering was a little inadequate for a site grossing $1m. In any case, good luck!
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How ironic that when I viewed this news clip, it was preceded by an advertisement for Goldman Sachs.
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We are entering bitcoin 2.0
The next evolution of bitcoin will be moving away from its decentralized nature towards centralized nodes.
Firstly, as blockchain grows, mining will become more expensive because of increased bandwidth and storage requirements.
It will become more expensive to make decentralized bitcoin transactions because the supply/demand dynamic will change - there will be more transactions, with less miners to store them.
Therefore there will be a new market for 'off-chain' transactions. A centralized network of off-chain transactions will evolve for transactions such as, pay 0.003 BTC to buy a coke from a vending machine. People will prefer to use off-chain transactions because it will be cheaper than using the blockchain.
This will all be driven by a change in the transaction supply/demand dynamic and an increase in transaction fees.
I believe the bitcoin network will evolve to accommodate this.
As far as blocksize limit goes, I think it needs to be raised, clearly.
I'm sure as bitcoin grows and changes, the developers will have to modify the protocol more. The modifications will be chosen by the politics of bitcoin and the demands of the userbase.
In short, its my opinion that much evolution will happen naturally with bitcoin to accommodate a larger userbase.
This will all happen with a background of collapsing FIAT currencies and broader government recognition/adoption of bitcoin. Governments will eventually recognize it is in their interest to support bitcoin and they will not prevent its evolution. If they try to stop it, they will not succeed.
Sounds like a business plan. But do you really think that you can predict what the network will decide to do? Or are you still one of those who belive that it won't be the network to decide? Or maybe, abstracting from a religion of network: how much would you be willing to bet that what you think will happen, will actually happen? Because I, for instance, I don't know. Though, I do know that the network does not seem to be having any incentive to increase MAX_BLOCK_SIZE. At least not now. I'm glad to be silently assured by some people that it wont happen without asking miners for a conscious vote, but I still think that making sure that miners vote consciously should be the main target of a real bitcoin foundation. Instead of making fun of people, who are actually doing their job, though in a kind of an underground. If the main principle of the project becomes an underground - where are we?  Look, let's be clear about this. Bitcoin did not come about in a vacuum. This technology was not invented on its own. It was invented with a background of collapsing fiat currencies, in an era where fiat currencies have failed. Right now, technology is not there to allow the bitcoin system to be completely decentralized. Because a P2P system cannot scale to accommodate all the tiniest mBTC transactions at current VISA bandwidth. So the market will innovate to get round this. I believe the system I've described is what will happen, of course it could go another way. But in any case all the people who are predicting bitcoin will die due to scaling issues, will be proved wrong. Eventually at some point in the future, perhaps technology will evolve so that more transactions can be shared on the blockchain (ie. transaction costs will come down). However I have already posted about how bitcoin is not scalable (storage & bandwidth are not unlimited, Moore's law is not a law). The key thing to realize here? The world will soon need a currency like bitcoin. Bitcoin was not invented in a vacuum. We are heading for a serious collapse in the dollar and all other fiat currencies. Global governments have been proved incapable of managing their currencies and money supply. The end is near. |
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We are entering a new phase of bitcoin's evolution - bitcoin 2.0.
The key themes to categorize this step:
* Bitcoin mixes with government: Remember, the government can do *nothing* to stop this technology. They will not be able to stop it. Even if they close down the exchanges, they cannot stop this technology.
* Bitcoin technology evolves: We have an issue with the block size algorithm. This is the first major technical challenge with bitcoin. The block size needs to be raised. This will be a test of the community and whether it can successfully navigate this change.
Through this stage of evolution, I see some great opportunities to buy in at prices alot lower than $110 (current price). Patience will be a key asset for any investor.
My opinion is, bitcoin will pull through these challenges. Specifically the government threat to bitcoin - I don't see this having much of an effect on the price. We have already seen that bitcoin is resilient to problems with the exchanges. Remember, this technology is global - there is no single government that can stop it.
If anything I see government intervention having a positive effect - as it brings more publicity to bitcoin and puts it more into the mainstream.
I understand why people are selling, because the investment case/"risks" now - in 2.0 - is different to how it was 1 year ago, for example. However I believe bitcoin has truely progressed alot since last year - I see only positive factors in the months & years ahead. Rememebr, patience is the name of the game here! Believe me, prices will come down in the coming months as more investors look to get out of bitcoin because of the reasons discussed.
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Sure - we have some experience with Android. I will send you a PM with more details about this.
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1. VPS is nothing special. I can get a VPS for $5 from rackspace
2. If u are serious about this business, you need a good partner. You will not find a good partner for the terms you are offering here.
3. If u are looking for a good partner, we developed Bitfication, the Brazilian bitcoin exchange. We put it online in just 2 weeks. It now turns over $5k per day, the owner has made a nice return on his initial investment
I suggest u start thinking like a businessman in terms of risk / reward rather than just oh the lowest price is best. Do some simple calcs, work out how much you can make, then budget for the project. Otherwise you're just wasting time.
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Anyone got a list of all the (reputable) shops where you can buy gold for bitcoin? I know off hand, Coinabull and Amagimetals. I have read many bad things about Coinabull, I'm not sure I'd classify it as reputable. Any others? Thanks. EDIT Sorry, I just saw this post. Mods please feel free to delete this topic https://bitcointalk.org/index.php?topic=170329.0 |
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Well there is no reason for it to go up right now and definitely some reasons for it to go down. I see a continued downward trend.
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HI guys! Just to let you know, anybody looking for a technical partner to implement any bitcoin web apps or ideas. We have experience already designing, deploying and hosting Bitfication.com , a bitcoin exchange with > $40,000 monthly volume. We are available for bringing your web app to market in a professional way. We can manage the process completely, and work with you as your technical partner - if you have an idea and some capital. We do not currently work for just equity arrangements. Our technologies are primarily Ruby on Rails & Apple iOS. We deploy to your own, private VPS instance - we use Puppet & other dev-ops technologies. So you are in control, not Heroku or any other cloud provider. Please feel free to talk to some of our previous clients (on these forums) about their experiences with us. Read more on our website: https://bxmediaus.comWe are based in San Francisco. Get in touch, let's talk. |
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Not true at all. You may send a digitally signed message to anyone, by any means of digital transmission. Any number of economic incentives may exist to maintain exclusivity. Any solution which requires a trusted authority isn't Bitcoin. Any means of transacting in which payments may be blocked, censored, or reversed with less effort than what is required to orphan a block isn't Bitcoin. Saying that we should use off-chain transactions is a bait-and-switch scam. It means convincing people to adopt Bitcoin by offering them a trustless, decentralized, censorship-resistant payment method and then turning around and telling them they can't actually have any of those things. They'll have to route all their transactions through regulated gatekeepers and thereby negate absolutely every advantage Bitcoin offers. We are entering bitcoin 2.0 The next evolution of bitcoin will be moving away from its decentralized nature towards centralized nodes. Firstly, as blockchain grows, mining will become more expensive because of increased bandwidth and storage requirements. It will become more expensive to make decentralized bitcoin transactions because the supply/demand dynamic will change - there will be more transactions, with less miners to store them. Therefore there will be a new market for 'off-chain' transactions. A centralized network of off-chain transactions will evolve for transactions such as, pay 0.003 BTC to buy a coke from a vending machine. People will prefer to use off-chain transactions because it will be cheaper than using the blockchain. This will all be driven by a change in the transaction supply/demand dynamic and an increase in transaction fees. I believe the bitcoin network will evolve to accommodate this. As far as blocksize limit goes, I think it needs to be raised, clearly. I'm sure as bitcoin grows and changes, the developers will have to modify the protocol more. The modifications will be chosen by the politics of bitcoin and the demands of the userbase. In short, its my opinion that much evolution will happen naturally with bitcoin to accommodate a larger userbase. This will all happen with a background of collapsing FIAT currencies and broader government recognition/adoption of bitcoin. Governments will eventually recognize it is in their interest to support bitcoin and they will not prevent its evolution. If they try to stop it, they will not succeed. |
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Seriously? This is your portfolio? Oh dear. |
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--snip--
I see in the future society will continue to evolve (ignoring any wars or conflicts *).. will continue to evolve so that we are each more independent of centralized control structures - corporates and politicians. The internet has been the most recent iteration of this, a technology that removes power from corporates and gives it to the individual - in this case the power for easy access to information principally, but many other powers besides. Bitcoin is the latest iteration of the internet , but is even more disruptive than the internet itself. In the future - ignoring any wars as stated - , human nature (greed, corruption, dishonest) will not change, but those in power will have less influence on the individual, so such weaknesses amongst our politicians will have less effect on the average citizen. Bitcoin is removing the power of control over us from central bankers. The financial crisis / events of the last 5 years have shown politicians and central bankers so be utterly incapable of managing the economy. It is therefore fitting that Bitcoin should come about at this time to relieve them of repeating the same mistakes that have caused this crisis. Bitcoin is the internet's replacement to the fed. I have no doubt that this technology will one day replace all currencies. With the world using bitcoin (or some more technologically advanced replacement), hopefully this financial crisis and the devastation caused by it may no longer feature in human history.
After writing the above post, I stumbled across this book "Aftershock". Anybody familiar with this? IMO, it is the only book I have read that acutely summarizes the world economic situation. Having read it, I must admit I feel alot less fearful about the future. I recommend everyone read it also. http://bit.ly/19MlzcdHere's a quote from the book (it was published in 2009, so the author probably did not know about Bitcoin at the time). Read from p163 onwards. I would quote the following sentence in particular: IMUs will be inflation- free because the system that controls the supply of IMUs will be set up to avoid it.
Here's the full quote. Please remember this book was published in 2009, before Bitcoin was well known.
Driven forward through time by STEP Evolution the next step in the evolution of money will be the development of an international agency (the global equivalent of a international central bank) that manages a single international currency that is entirely electronic. We are not saying this will come quickly or easily, but eventually it will come. In time, old-fashioned cash stashed under the mattress will become as useless as a manual typewriter.
Why a single international currency? Because it will be necessary to avoid repeating the pain of another global Bubblequake. A sin- gle international currency will eliminate the problems with foreign currency exchange, making currency bubbles (like our current dol- lar bubble) impossible. It will also block us from spending our way into huge foreign trade imbalances (like our current international trade deficit bubble). And because a single international currency is the most technologically and economically efficient form of money at this stage of our societal evolution, it eventually becomes the best option.
Will nations resist it every inch of the way? Absolutely . . . for a while. But eventually, they will come around, for the same rea- sons evolution always occurs: because it beats the alternative. In the long view of STEP Evolution, a global economy requires a global currency.
Why an electronic currency? Because money—like every other human technology since the Stone Age—evolves through time fol- lowing the STEP Evolution principles of “Material Substitution” and “Energy Substitution” (which we explain in more detail at www .aftershockeconomy.com/substitution).
Certainly we have the beginnings of an all-electronic monetary system already in place. Credit cards, debit cards, electronic checks, checks by phone, checks by fax, direct deposit, and online banking are all beginning to supplant some of our cash and check payments because they are so much more efficient. Moving cash around in a big, money bucket brigade is expensive, requiring banks, ATMs, armored cars and security personnel. The cost of cash maintenance and cash crimes drains a society’s productivity.
Remember those big bags of gold coins we don’t bother lugging around anymore? Remember the high cost of mining, protecting, and using gold? Sooner or later, people do prefer cheaper, eas- ier, and better—especially when the consequences of not evolving become very, very painful, as they are in the Bubblequake and in the coming Aftershock.
It may be hard to believe we will ever have a single international currency, given how fond individual nations are of their own forms of money. But when you look at how far we’ve already come, it’s easier to see that we’re much more than half way there now.
Imagine how hard it would have been 2,000 years ago to con- vince hordes of Germanic tribal chiefs wrapped in bear skins that their warring tribes of 10,000 or more people would eventually come together to form a single European Union in the twentieth century, with a single European currency, the euro. Given how far we’ve already come, it’s only a matter of time before Japan, the United States, and the European Community come together, too, to create a common international currency.
Again, we are not saying this because that is what we hope will happen. This is not about wishful thinking or pushing a political agenda. In the big picture of STEP Evolution, evolving to a single electronic currency is just a matter of time. Sooner or later, unless the sun fails to shine, all other less-efficient options will simply be eliminated.
The natural solution to the Bubblequake and Aftershock will feel as unnatural to many Americans as giving up baseball. But sooner or later, major social and political changes, including a single, global electronic currency, operated by a central administrative agency, are in the cards for us. After the temporary global mega-depression, an international electronic currency, operated by a central adminis- trative agency, will eliminate foreign exchange problems. We don’t know what this new currency will be named, but for convenience, let’s call it “IMU” (pronounced EYE-mu), short for International Monetary Unit.
At first, the IMU will simply be a merger of the euro, the dollar and the yen. Other strong democracies, such as Canada or Australia will then join. Then use of the IMU spreads around the world since a country does not have to be a member of the governing group in order to use the IMU. IMUs will be far cheaper for society to administer than cash. There’ll be no expensive bills to print or coins to mint. There’ll be no cash to steal. IMUs will be inflation- free because the system that controls the supply of IMUs will be set up to avoid it.
Many people, including some Americans, will oppose the com- ing evolutionary transition to a new form of money, but change is inevitable. When America’s bubble economy fully pops, and people ride the roller coaster from denial to panic to anger to understanding, the first thing they’ll do is blame the politicians. Of course, it will be too late to punish the politicians who created the problem.
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Screw all of them!!
Bitcoin will win eventually, just you see..
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Need a highly secure Bitcoin web app developed quickly? Checkout Bx Media USA, a bitcoin development company based in San Francisco, CA! We have experience developing and implementing highly secure bitcoin exchanges. We can have an exchange running for you in just 2 weeks, using the open source Bitcoin Central source code. https://github.com/davout/bitcoin-centralBitficationOur most recent client is Bitfication, the #1 Bitcoin Exchange in Brazil by market volume. For this project, we worked with ThiagoCMC and a Brazilian team. The site has already turned over $40,000 since launching in April 2013. https://bitcointalk.org/index.php?topic=187864.0https://www.bitfication.comFor Bitfication, it was a priority to have the exchange up and running quickly. We were able to quickly customize and develop the existing Bitcoin Central codebase for our client. Due to the quick launch, our client gained a first mover advantage in the Brazilian market and has been highly successful in building a trusting and strong userbase since launching only 6 weeks ago. Advance2 TradingWe designed a custom Bitcoin trading app which just buys and sells at MtGox + 5%, to assist our small network of global bitcoin traders. The platform is used by 50 traders and it is highly secure. Feel free to sign up and experience the platform for yourself. https://bxmediaus.com/tradeTechnical Capabilitieshttps://bxmediaus.com/?page_id=22- Prototyping of web app - Development of web app with Ruby on Rails - Secure Deployment - Set up secure Linux cloud with SSL, full encryption and backup NOTE: Our service is different from other providers, because YOU will completely own the code and installation. This way, you can be sure nobody will take your or your customer's coins. We will only have access to your server to perform maintenance as required by you. We do not host client installations or provide hosting. We can however recommend third party cloud hosting providers for you and manage the deployment process. SecurityWe are highly aware of past exchange hacks and breaches, such as Bitcoinica. For us therefore, security is a top priority. We use all the top procedures to ensure complete security and peace of mind of your bitcoin application. For example, we always recommend using a cold wallet if possible. And testing at all levels (unit, regression, acceptance/integration) is a high priority. Contact Us https://bxmediaus.com/?page_id=2We are based in San Francisco, CA. If you are in the bay area, we would be happy to meet to talk about your proposal. Location: 140 Mason St, San Francisco, CA 94102 Tel (USA): 253-785-0650 Tel (Europe): +44 203 397 7418 Google Talk/Jabber: willmoss26@gmail.comMore InformationFeel free to post or PM any questions or information about your requirements, we will answer! |
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