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281  Other / Off-topic / Re: The Most Famous People in Bitcoin! on: August 21, 2012, 08:05:54 PM

I'm familiar with all of these except Dank (just haven't taken the time to acquaint myself.

Erik Voorhees probably belongs on the list - I'd put him just below Matonis.

Goat?
282  Other / Politics & Society / Re: Obama or Romney ? on: August 21, 2012, 06:40:56 PM
Yeah, Johnson isn't going to win but I'm going to vote for him anyway. It'll at least send a message that maybe a few people will hear.

Romney isn't going to win either. A vote for him is just pointless. (I do admit a very tiny chance that Obama screws up massively several times causing a Romney win, but the likelihood is so small I'd rather chance money on the lottery.)
283  Bitcoin / Bitcoin Discussion / Re: Bitcoin Booth at the Ron Paul Festival Aug 24-26 - need samples! on: August 17, 2012, 05:12:06 PM
I find it hard to believe that pressing the silver into sheets adds 23% ~33% to the price).

Having bought sheet silver, I don't find it hard to believe at all.
284  Bitcoin / Bitcoin Discussion / Re: Bitcoin Booth at the Ron Paul Festival Aug 24-26 - need samples! on: August 15, 2012, 02:38:07 AM
How about some Shire Silver as well? By the end of this week I might be able to send a silver card as well as a gold card. I do know that many people don't quite get what Shire Silver is until they actually see it in person.

We would be happy to showcase some shire silver in the bitcoin booth!  Thanks for reaching out.


I'll make sure you get a few brochures too.
285  Other / Politics & Society / Re: Massachusetts man found guilty of recording calls to public servants on: August 14, 2012, 04:04:53 PM
I was there for the closing arguments.

BTW, he's originally from Wi, but lives in NH these days.
286  Bitcoin / Bitcoin Discussion / Re: Bitcoin Booth at the Ron Paul Festival Aug 24-26 - need samples! on: August 14, 2012, 01:28:47 PM
Show them Coinabul.com. Or even better, bring an ounce of gold and offer to sell it to anyone who has bitcoins for 10% below spot price. You may not find a buyer, but it's good for conversation.  "See this gold ounce? You can buy it below market price... but oh, wait, sorry... we don't accept your silly monopoly FRN bucks."

It's crucial for them to see that they can buy gold/silver with Bitcoin. Make sure gold and bitcoin are presented as friends and allies to Ron Paul supporters Wink
Good idea…some silver would be good too.

How about some Shire Silver as well? By the end of this week I might be able to send a silver card as well as a gold card. I do know that many people don't quite get what Shire Silver is until they actually see it in person.
287  Bitcoin / Project Development / Re: BetterFried Labs introduces a new line of chips for miners! on: August 12, 2012, 11:11:19 PM

I'd imagined something more like an erlenmeyer flask, maybe with a flame underneath it.
288  Bitcoin / Project Development / Re: [QUESTION] Can you put up Google adsense ads on a bitcoin related website? on: August 12, 2012, 10:45:00 PM
My guess would be that people heavy into bitcoins, such as bitcoin site webmasters, are going to be fairly anti-Google due to their perceived evilness. They might also want to promote one of the bitcoin based advertising options.
289  Economy / Service Announcements / Re: Bets of Bitcoin - Bitcoin betting on real world events on: August 12, 2012, 07:55:19 PM
Those two you linked to were:

Marco Rubio will be selected as Vice Presidential running mate for the GOP presidential nominee.
 - http://betsofbitco.in/item?id=264  

Marco Rubio will be the GOP nominee for Vice President
 - http://betsofbitco.in/item?id=291  

Here's a another open one:
GOP convention will select Ron Paul as vice presidential candidate
 - http://betsofbitco.in/item?id=463


Here's one that is "waiting" (closed to new bets) and can be ended as well:
Mitt Romney Will Choose A Woman As His Running Mate
 - http://betsofbitco.in/item?id=481


IMHO, all these should probably be in the waiting state now, but none of them can actually be confirmed until the actual convention. What would happen if Paul Ryan were to get hit by a bus? Its not likely that the outcome will change, but it is still possible.
290  Economy / Securities / Re: Any critics about my portfolio? on: August 12, 2012, 07:32:05 PM
Quote
For example, I might buy 10 shares of YARR for 1.6 and immediately place a sell order for 10 at 1.9 - that way if for some reason it jumps up I make a nice deal.
Then what do you do with the BTC? Buy more YARR? Playing volatility games is tricky. I wouldn't build my whole investment strategy around it.
Well, if YARR were to drop back down then why not pick up more? But there's always other options available. It depends on what the conditions at the time are.

But overall my strategy is roughly to risk the initial principle on BTCST derivatives and reinvest the dividends in safer choices. Once the non-BTCST investments reach parity with the original principle (which will be pretty soon for me) then even if BTCST disappears outright then I'm no worse off than before I started. But then I'm willing to take more risks than the average person.
291  Economy / Securities / Re: Any critics about my portfolio? on: August 12, 2012, 02:26:27 PM
I know I'm very heavy into pirate based investments right now, but then I need the growth more than the safety. My medium to longer term strategy is to gradually shift my dividend reinvestments from pirate based to safer stuff like mining. I don't believe BTCST will last forever, but am hopeful that it winds down nicely when it needs to. In this manner I hope to gradually grow into more safety.

One thing I do like to do is when I buy some shares I figure out what price I'd sell for and set up the sell. For example, I might buy 10 shares of YARR for 1.6 and immediately place a sell order for 10 at 1.9 - that way if for some reason it jumps up I make a nice deal. When I first started BTC investing I did that for some PPT.x shares and made a better deal than holding them would have.
292  Bitcoin / Bitcoin Discussion / Re: Representative Mark Warden Utilizing Bitcoin for Campaign Donations on: August 12, 2012, 12:29:25 PM
New Hampshire is my favourite US state by far.

Is Mark Warden part of the free state project ?

Yes. He is the porcupine realtor and thus pretty much outed as such. He's also a great activist and a heck of a nice guy.
293  Bitcoin / Bitcoin Discussion / Re: Bitcoin reaching critical mass in New Hampshire? on: August 11, 2012, 10:04:36 PM
most of those pages are for donations, which do nothing towards building an economy for bitcoin. the only thing you can actually buy is baklava. i think thats even better than alpaca socks  Wink
i dont really see a critical mass there.

Where is the baklava?

Baklava at http://mandrik.com/
294  Bitcoin / Bitcoin Discussion / Re: Representative Mark Warden Utilizing Bitcoin for Campaign Donations on: August 11, 2012, 09:21:18 PM
It almost certainly isn't legal for him to accept donations from foreigners, but how is anyone going to know?

If you do donate more than $100 worth, you should include your name, employer, and city/town as directed. Of course that can't readily be enforced, but since his donation address is public his opponents could check it for large donations that don't get disclosed. (In other words, if you are going to donate a lot or are foreign, donate it in small chunks from varying addresses.)

Knowing Mark (a really good guy), any donations he cannot legally use and can't figure out how to return would get donated to worthy causes.
295  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin is a better choice as a currency for Americans than gold on: August 11, 2012, 01:48:49 AM
Gold has never been a common every day currency, the coins would be too small. Gold has always been rich persons money where a small coin could hire 10 men for a days work. I don't think gold and bitcoins will ever be in competition as currencies due to this.
See Shire Silver for the counterargument to gold not being usable in everyday trade.

I think bitcoins and Shire Silver complement each other nicely. Bitcoins are great for Internet and other electronic transactions, while Shire Silver fulfills the need for in-person anonymous transactions.

I agree that silver makes a fine everyday currency. Up until the recent century it had been the case for millennia. Of course this was entirely possible due to inexpensive coining sponsored major governments. See http://en.wikipedia.org/wiki/Free_silver for a bit of history on the importance of cheap mintage.

Any silver currency that has a high premium over intrinsic value will have great resistance becoming an accepted currency. Even if you enforce a higher value to justify a premium then http://en.wikipedia.org/wiki/Gresham%27s_law comes into play.

Did you visit the link I posted? Its to a gold product, not silver. Shire Silver is a brand.

Also, there's no such thing as intrinsic value. The cards are worth more than spot price because of the added values like putting the metal into a more usable form suitable for everyday trade. But of course, what it will trade for is up to the market, just like with bitcoins (which also have no intrinsic value but trade as the market determines.)

Yes, when governments create the money, as in coining silver, they sometimes do it "for free". But the actual price of the coining is in the power it gives the government. Money is a product, and like any product it needs to make a profit of some sort for its producer. I would rather have that profit be readily observed and quantifiable as part of the price of the money than as an invisible lever of power wielded behind closed doors.

And Gresham's Law only applies when government forces people to accept bad money. Bitcoin (and others) will outcompete even government monopoly money and put an end to legal tender laws that enable Gresham.
296  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin is a better choice as a currency for Americans than gold on: August 10, 2012, 11:29:08 PM
While bitcoins are nice gold has the advantage of being able to be sold almost anywhere. Any pawn shop, jewellery store, coin store or private collector will give you fair value for gold. The gold market is orders of magnitude larger than the bitcoin market.
For now. The bitcoin market is growing rapidly though.

Gold has never been a common every day currency, the coins would be too small. Gold has always been rich persons money where a small coin could hire 10 men for a days work. I don't think gold and bitcoins will ever be in competition as currencies due to this.
See Shire Silver for the counterargument to gold not being usable in everyday trade.

I think bitcoins and Shire Silver complement each other nicely. Bitcoins are great for Internet and other electronic transactions, while Shire Silver fulfills the need for in-person anonymous transactions.
297  Other / Beginners & Help / Re: Hiding precious metals from the government with bitcoins on: August 09, 2012, 04:54:44 PM
I have seen your product before. Very interesting idea. I am primarily focusing on very recognizable bullion right now at as low of a premium as I can manage. I will take a look at your products though, they look like good gifts.

EDIT: I just looked at the prices and it does not seem as though investors are your targeted market. I try to get more silver per dollar than that.

Correct. My product is intended for use in trade and not investing. I do think it complements bitcoins nicely, being useful in situations where bitcoins don't fare as well such as in-person anonymous transactions. And of course, as the market grows it will become more and more recognizable - just like bitcoins.
298  Other / Beginners & Help / Re: Hiding precious metals from the government with bitcoins on: August 09, 2012, 03:46:55 PM
Just an FYI, at Shire Silver we do need a good email address and shipping address, but we routinely delete completed orders a few months after we get delivery confirmation.
299  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin is a better choice as a currency for Americans than gold on: August 07, 2012, 12:01:32 PM
I looked into this initially merely because it was an argument used against pushing for a return to the gold standard as a currency many years ago because "The US doesn't produce gold as quickly as other countries so going back to the gold standard would be worse than staying with the dollar."

As DAT pointed out, the balance of payments will push capital flows toward essentially the same distribution as exists now. There is an excellent, albeit lengthy explanation by FOFOA entitled It's the Flow, Stupid, and it's follow-up Flow Addendum.

What it boils down to is that gold can act as a store of value and a medium of exchange or a metric of value - but not all three in perpetuity. Fiat can function as a medium of exchange and a metric of value, but not a lasting store of value. No form of money has ever been able to act as all three at once. The limiting factor for gold is its physical manifestation. This is explained best by the Triffin dilemma.

Bitcoin, by being entirely abstract yet functioning almost exactly as gold does, is capable of satisfying that issue entirely because it is infinitely divisible (in theory) - in other words, Bitcoin can act in all three capacities simultaneously. The Triffin dilemma would be solved, and a unified currency finally possible.


Having only read the Triffin wiki page, it seems to only apply to government currencies. A gold standard would be unworkable, but a gold currency that was unrestrained by politicians should work.
300  Other / Beginners & Help / Re: Bitcoin Businesses and Developers, Let's Get Started! on: August 07, 2012, 11:37:13 AM
Does anyone know how the BTC to Gold services work? Do they go just change the coins thru Mt.Gox and buy the stuff from local gold vendors and sell it to you?

I can't speak for the other precious metal vendors, but Shire Silver doesn't have inventory. There's a few reasons for this.
  • It eliminates the prospect of loss due to price movements (while also eliminating increased profit potential).
  • We just plain aren't capitalized enough to afford it.
  • It makes the possibility of legal plunder (seizing the inventory by law enforcement) moot.

That does mean that it can take up to two weeks to get domestic orders delivered, but that's not bad compared to many of the big name precious metal dealers.
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