don't worry, i get plenty wrong too. this f*ckin Dow just won't go down and i've been over a year too early on the short side. one of these days i'll be right.  but the thing is, i've been SO right with gold and BTC i've been able to hold that pair trade (long Bitcoin:short stocks) the whole time with huge returns. i think we're getting close to hitting on both sides of that trade though. if you trade long enough, you'll realize if you can be right more often than wrong you're doing good. if you can be right for 2 out of the 3 markets you're trading in, that's real good. better cut ur loss dow prob will top above 30k Btw, if you don't think Bitcoin has the potential to deflate the stock market then you're not dreaming the true Bitcoin Dream. SO MANY dollars are locked up in the stock market right now. Imo, the stock market is the quintessential representation of US dollar hegemony and power. It's the only thing keeping the US afloat. While not as big as the UST market, it's psychological importance is bigger. For Bitcoin to achieve the heights we're all dreaming about with lots of zeroes on the end, it will have to crack stocks to draw from that pool of dollars. Could this be the trigger? Dept. of Homeland Security Prepares for November Food Stamp Riots? |
|
|
|
Wall St is not only holding Silicon Valley back, it is holding the rest of us back. as in the entire country is being held hostage for a continuous stream of bailouts. here was my update last May 17: -------- Original Message --------
Subject: Conflict
Date: Fri, 17 May 2013 08:22:19 -0700
From: xxxxx
To: undisclosed-recipients:;
I've detected a new dynamic that is setting up that I believe will be a significant factor in driving Bitcoin adoption. I have not heard this "concept" framed in this manner on the Forums or anywhere else so I believe you're hearing it formally stated here first:
Wall Street vs. Silicon Valley.
I first detected this in Chris Dixon's first interview at TechCrunch here: http://techcrunch.com/2013/04/29/chris-dixon-plans-on-investing-in-more-bitcoin-startups-says-more-entrepreneurs-are-getting-involved/
Then again in another of his videos yesterday: http://pandodaily.com/2013/05/16/for-chris-dixon-the-next-big-thing-might-be-bitcoin/
And finally, it came thru again in the GigaOM event last nite which I attended.
The bottom line is this: The powers to be in Silicon Valley are anxious to snatch the reins of their financial destiny away from the banks and Wall Street upon who've they've depended on forever. And they are going to use Bitcoin as a launching pad to develop a myriad of technical tools to accomplish this task. They will also contribute their talents in making sure Bitcoin is secure from attack. They will also use their considerable monetary war chest to lobby Congress to protect Bitcoin for the long term. These events are how it's going to play out even though they might not exactly realize it yet.
This is another play on the theme of how "geeks are taking over the world" 
I believe they will be successful.
|
|
|
|
personally, i think the Money Masters in Wall St are what corrupts Washington. this is the power of the printing press when controlled by private hands (banksters).
that is where the root of the problem lies and this is why we're here.
So I take it to mean that they are important facilitators of great human creations, much like how war industry has bettered human lives in various ways. |
|
|
|
Is it just me, or did he openly declare war on DC and everything it stands for? His side is the side I want to be on. Also, I've thought about investing in Blueseed but I'm not an accredited US investor. |
|
|
|
The difficulty is increasing so fast that even though Bitcoin prices are going up, it is hard to catch up with the new eqpt for mining Bitcoins!
I guess the way I see it is that it's becoming cheaper to become a Bitcoin node and more people are doing it. |
|
|
|
Colored coins are unworkable in the real world. Mastercoin is a scam.
We need a bitcoin-like chain for securities and shares. We'll get there. Brokerages will transition to acting as interfaces between the bitcoin chain and the security chain.
Either way, the point is many efforts are being worked on to update our antiquated systems of exchange. A quick perusal of the project development board will show a handful of different actors theorizing several different and intuitive ways to create a backbone for a distributed exchange (some that will work, some that might, some that won't). Day by day more brain power gets invested towards these problems. I hope that we can soon enough, as a global society, design and use infallible and fluid price-discovery mechanisms at minimal cost. Eventually it will happen |
|
|
|
I'm interested in Mastercoin as an economist because it seems to open new possibilities for understanding the nature of circulation at the "mesolevel".
for playing around: 19ZpriK1Y6tw55P8E8w8b4P5QAHjV8aSvw
Please promote Mastercoin in your signature and/or blog/post/tweet about it so that I can send you some Mastercoins. It needs promotion and it's according to the rules of the thread. Thanks. And please promote Mastercoin by continuing to research this new class of transaction  I'd be happy to support this research a bit when there's an easier way developed for me to transact MSC in a few whiles and possibly see a research proposal. |
|
|
|
|
Thank you Giancarlo and everyone with BFX!
|
|
|
|
When you plug your numbers into this calculator, do you ever stop to think about the practicality of 91B difficulty/650PH in a year? Is difficulty just a number that keeps going up inexplicably to you?
Ill grant you 650PH in a year is at the extreme upper end of what I think is even conceivable. But only a very small % of all bitcoins mined by the device will happen after the 6 month mark, which at 9B isnt exactly far fetched, so the last 6 months or so of that simulation are irrelevant compared to the first 6 months; just as 650PH at the end of 1 year isnt very likely, its equally unlikely to me the next 10 difficulty adjustments will all be smaller than the past 10. The next 10 will coincide with KnC B2+, Hashfast, ActM, Bitmine, Cointerra, Black arrow perhaps even BFL Monarch, next gen avalons and next gen asicminers hitting the market, the previous 10 were caused basically by just 2 vendors. SO the simulation is very flawed (why doesnt anyone implement a calculator with a sigmoid function for difficulty?), the conclusion might still be true for the simple reason that I cant think of a mechanism that would cause asic manufacturing and deployment to stop as long as each of these miners is operationally reasonably profitable for those with access to cheap electricity. The real question therefore becomes how fast these vendors can produce and deploy, and KnC shipping up to 600 boxes per day gives us a glimpse of how fast this could go, particularly with 10 competing suppliers (at least one of which is using monster sized manufacturing facilities).. I don't even know what's after peta off the top of my head is how irrelevant high magnitude SI scales have been to me thus far... edit: it's exa |
|
|
|
Centralized stock exchanges may become obsolete anyway. I can foresee a decentralized, peer-to-peer based, global system for exchanging stocks taking over because of the extensive regulation, manipulation, and fees associated with current centralized stock exchanges. In this case, bids and asks will be broadcast across a network of distributed nodes, transactions will occur when those bids and asks meet, and stock ownership will be permanently recorded in a distributed blockchain. Bitcoin is already being used to buy precious metals directly so it is only a matter of time before a mechanism to buy stocks directly comes into play and this mechanism may be built on bitcoin technology, using cryptocurrency as the currency of choice when exchanging these stocks. This will undoubtedly pull money away from the current centralized stock market.
Or am I just dreaming?
No, it's going to happen. ColoredCoins is an example of an idea how to do this that already has some implementation. (Author is looking for help) NGCCC (colored coins): issue and trade private currencies/stocks/bonds/etcas is Mastercoin MasterCoin: New Protocol Layer Starting From “The Exodus Address”except that development for MSC has seen a lot more support than that of ColoredCoins. Dev of distributed exchange logic is in progress, and next on the list will be logic for smart property ie stocks |
|
|
|
Endorsed drugs today include caffeine and sugar (to keep you energized and productive at work), nicotine (to help you cope with the stress-levels induced by being high on sugar and caffeine all the time) and alcohol (to help you release the pent up tension from work and help you forget how shitty your life is). Banned drugs include Cocaine (more profitable to traffic it when it's illegal), Marijuana (which threatens a lot of established cartels in pharmacology and medicine. It also makes you less likely to work very hard, especially when also realizing that the work is not worth doing) and hallucinogens like LSD, mushrooms etc. (which dissolve ordinary social conditioning and support values antagonistic to the establishment).
Hey man, this is a pretty good wrapup! As said, just parroting St. Terence McKenna. Still worth repeating though, as this point of view gets overlooked too commonly. I love how McKenna keeps popping up in this thread. |
|
|
|
|
What is Bitcoin? A story for the ages...
thank you for your work Mr. Pietila, it has influenced my perception of the world greatly and I'm honored to have you here with us.
|
|
|
|
So JR,, not to be devils advocate but what will that mean for the value of MSC when you sell 1% ?
It should mean a positive pressure on distribution which in the long term should increase MSC's value. It's up to the market whether or not it wants to buy the coins, is it not? And I do wish to see how far Mastercoin can go with JR on full time... |
|
|
|
i wouldn't drive it  |
|
|
|
Not sure why the economy is growing at 0.5% on average. Global GDP growth is closer to 3% over any extended period of time (say a decade). Hell population growth is >1.1% annually so if economic output is growing at 0.5% and population is growing at 1% then productivity per worker is shrinking? I mean that doesn't even pass the common sense test.
The reason that gold and silver have held purchasing power over large periods of time is because the inflation of the metal (~2% to 3% annually) has been roughly the same as economic growth.
interesting... |
|
|
|
You Have even more options: of you have people you trust you can distribute parts of the key to them (for example using shamir secret sharing). It's questionable whether you'd want this. In case of torture maybe you want to be able to give then access. But it is possible to protect your holdings even against that, albeit not without introducing some other risks.
In SF books people often have automatic self-euthanasia options build in that can be triggered mentally. If this ever becomes available I will have it installed. "Let me go now, or I'll euthanize myself and you'll never have anything!" Be weary of remote (de)activation! |
|
|
|
We're a nonprofit so I don't know how relevant the .biz TLD is to us |
|
|
|
Hi, How willl the scheduled down time of Bitstamp affect order execution of Bitfinex? Thx  oh, that's why no orders are executed on bfx? Shouldn't we be able to trade bfx-only? The order book isn't even loading. I do recall Raphy saying he ordered more hardware, though I doubt that's being laid out right now |
|
|
|
|
Show Posts
