I've been a silver bug  for decades.  Have never sold an ounce of what I have, even after discovering Bitcoin last year.  I'm an econo-geek, and versed enough in the crypto to understand how the system could work, even though I can't dive into the code and determine for myself it it actually does what others may say that it does.

Mostly I consider them complementary.  If the future looks anything like Schiff or Olov think that it could, then a return to in person barter trade is likely, and thus Bitcoin will prove to be a useless endeavor.  However, I don't consider that remotely likely, as even in the days of sail trade prior to the wireless telegraph; communications were required to facilitate trans-Atlantic trade, and that was largely limited in credit trust due to the physical nature of gold money.  Therefore, the Internet will not die easily, and there will be groups in every city with deep vested interests in maintaining some kind of Internet link long after the cars stop moving due to lack of fuel.  So even a 100+  year reversal of fortunes in transit technology would benefit from the existance of Bitcoin, a Mad Max scenerio notwithstanding.

I think that there are more metal bugs, and vastly more Austrians, engaged in Bitcoin than many would otherwise be inclined to believe.

I'm buying a ton if my funds clear and the price is under 14 or 15. I can't wait. It'll be like Christmas. 

Well, where the price will end up could be significantly affected by anyone with a lot of Bitcoins deciding to cash out, and I think no one really can say if that will happen or not, and to what extreme. The market is small enough and some people have enough Bitcoins to the point where the price can climb sky-high or drop like a rock just by one user's decision, as demonstrated in the price drop when MtGox got hacked. As Seldon so eloquently puts it, a group is predictable, but individuals are not.

Didn't get a chance to hear it yet, but I had a feeling where Shiff stands on bitcoin. I like Peter he keeps it real honest although sometimes he too much of a doom and gloomer, but if ppl saw the big picture like he does there is no reason not to be a doom and gloomer.

Shiff bashed bitcoin before, he talked about it and said negative things about it like, no intrinsic value, its a scam, don't get caught holding the bag etc etc. I can already tell what the show will be like, he will repeat his warnings to not touch bitcoin. Especially after the Mt. Gox incident. Guarantee he will bring that up and will be bashing bitcoin. I don't know why but a majority of the precious metals community really don't like bitcoin. They don't understand the revolutionary impact it can have. I think its because they are focused on things intrinsicly and since bitcoin isn't physical they disclaim it right away.

Hello,

Please accept this as an official reply from Bitcoin7.com

We admit we had to reverse 4 transactions on the Euro market. The cause of the problem was a bigger delayed transaction through the German payment method Micropayment.de. As we couldn't identify on time if the payment was correct or not we had to reverse these transactions in order to defend the seller of the BTC. All BTC have been returned to the sellers.

We don't expect such problem with the following method to occur again as we removed the methods from their base, which would allow delay or even reversal/chargeback.

Our goal is to defend both the buyers and sellers on the bitcoin7 platform. Reversing the BTC to the seller's wallet was the only 100% defensive method we could have done. Otherwise if the money transaction wouldn't prove to be correct and we haven't responded quickly, we would have needed to reimburse the sellers.

I hope you guys are interested in buying Viagra and increasing the size of your penis.

Do you really think people in the wider community will invest any money in this? I was sort of thinking of investing about $1000 USD for a laugh if the price dropped under $8 USD (I can afford that and more). Just yesterday I had a talk with a day trader friend of mine, and he warned me that any profits coming from BTC would look bad from a tax perspective, and really warned me to stay out of this, but I told him I would be careful.

Now I would not touch BTCs with a bargepole.

Thats true, he's smart enough to access a 500k account but didn't notice the withdrawal limit?

And why generate so much awareness dumping everything at the same time?

This is good for bitcoin. One person just sold off a bunch of coins, but many, many people just bought bitcoins, some at a great bargain (I saw one buy for 250000 or so coins at $0.01). Thus, the bitcoin net has just gotten wider... there are probably a few people who just got their first coins, and a lot of people just increased their coins. The ownership of bitcoin has just broadened greatly.

moving them now...

edit: no wait, mt gox is limiting my daily withdrawal

yeah, that one wasn't mine. I sold at 17 EUR, which was still high but not completely unreasonable (kind of risk premium for not knowing the exchange).

BTW, a good defense against Silk Road arguments would be to highlight that the majority of cash has traces of cocaine on it. Although I'm not sure they aren't working on that as we speak with Quantitative Easing..

So are we ever going to get a full report what exactly was talked about, what questions they asked, which aspect seemed to interest them the most or did everybody just kind forget about and is satisfied with 2 lame sentences he gave us on the subject in that lame ass interview?

Sorry, poorly explained. I started with 4 BTC and 0 money. I sold the 4 BTC for lets say 10money. New balance: 0 BTC, 40 money. Next day I check it and balance is suddenly again 4 BTC and 0 money.
No clue about the counterparty as it is an anonymous exchange (like MtGox). All I can say is that they reversed a reasonable trade without notifying me, which is a serious issue for me. How can I trust in dealing with them if they reverse deals from me? That's ridiculous. Never seen anything like this happen at a serious exchange (NYSE, Scoach, MtGox...). Makes me stop trusting those guys.

Funny story? Bitcoin 7 cancelled some of my trades. This exchange is supposed to be an instant trade market like MtGox or Britcoin. So, one advantage is that you cannot reverse a trade. But that's exactly what they did. Somebody bought from me well above market, trade got through and got revorded (you can still see it in Bitcoinchart history for instance) they credited me with the money and took my BTC. I lock in today again - I got my BTC back but the money got refunded. WTF?
I'm writing them a mail - but for the time being I can only say - stay away from Bitcoin7!

Again with the chart showing the linear progression of the baselines and the supposed crash to ridiculous lows. Has it not occurred to anyone that this chart is drawn on a logarithmic scale and represents a fairly short section of an exponential market? Any short segment of an exponentially increasing graph can be made to look linear on the right log scale - no one has discovered the "secret" of the market, just manipulated data until they saw a pattern that may or may not actually be there.

More realistically, price fluctuations in this market occur around a lognormal distribution with greater tendency to increase than decrease, which is what you would expect from a commodity with a user-base increasing faster than the available quantity of the commodity (i.e. its scarcity per capita is increasing).

Yes.  Obviously.  I can't know who uses it without telling me...

But for the sake of brevity, the way I phrased it was:  No one I know has used Silk Road.

And I think the point is clear.

The fact that people use it, is irrelevant to the fact that no one I know has ever told me they've used Silk Road.

It's important to let people know that:

(1)    I have had contact with many many many Bitcoin users.

And

(2)   Not one of them has ever told me that they've bought anything on Silk Road.

Exactly one person has told me that he has been able to get the site to load.   But that he's not planning on using the site --- only taking a look at it.  He also told me that it was an unbelievable task to get through all the layers of security --- just to be able to read the web page.