why did they move them in 324btc chunks ?
Possible answer: try and have a look at your phone and see which letters are on the 3-2-4 keys... ...got it? FBI guys you have a funny sense of humour! Well done.  |
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I'm pretty sure they haven't shipping anything yet, if they did, we would know about it. I understand that they are being quiet and don't want to be like BFL (two more weeks), but any news would be better than radio silence at this point.
We are working on an announcement -- it will be out soon. Thank you. (Eagerly, but patiently) |
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If you are in Europe, you are in luck. BitGild.com, the premier European gold and silver dealer for Bitcoin, located in the Netherlands, who have been doing very well by getting the Bitcoin Specie into the hands and pockets of the people of Europe have managed to move swiftly and scooped up some of the low numbers of the FIRST YEAR OF ISSUE collectibles. If you move fast, you may be able to get one, but you should certainly get your Silver Bitcoin Specie there as you will certainly save on the shipping from the US and get them much quicker. |
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But the fact that you are a pathetic MtGox sock puppet has relevance to the topic of this thread.
It is not a fact. It is a lie, and you know it. If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck I'll call fowl One ought not impute invidious motives absent evidence. Refute the data instead. http://www.nizkor.org/features/fallacies/poisoning-the-well.html |
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Good point, so either there is an enormous amount of silver available above ground, or the inflation rate is 6/8% per year.
Pick one, it's bad news either way.
Not wanting to sound arrogant, but I have literally written a book about this. About half of the 45-50Boz that is ever mined is still aboveground in recoverable form. A large part of the yearly mining is dissipated, but at least the stock is growing (silver was in structural deficit from 1940s to 2007). Silver is very volatile, because most of the "holdings" are distributed to households as silver items, which do not react quickly to rise and fall in price. The incredibly small stock in COMEX is many times leveraged. Speculators tend to have inverse demand curve that they always demand more when price goes up. Silver market is a mess because of many factors. Ok, makes sense. So my silver 'inflation' rate estimate of 6/8% is wrong since there is about 20 Billion ounces of silver above ground, so it's likely around 4%. Still higher than economic growth so still will go down in purchasing power based on supply. But ofcourse it depends even more on demand. Basically if people want to hold more silver, it will go up, if they want to hold less it will go down in value. What I don't understand is that you still value silver eventhough you understand bitcoin. As we agree silver already lost most of it's function as money pre bitcoin and became already mainly a commodity the past 100 years used mostly in industrial applications. A smaller part of the mining supply still served as a store of value however this function will likely also be lost now that bitcoin is here. I think silver will continue to become more and more a commodity/industrial metal. And commodities only go down in purchasing power long term. I think now that bitcoin is here, wanting to own part of the above silver will become equally irrational as wanting to own part of the above bronze. Ie: after this temporary rising commodity cycle, the silver deficit will continue for good reason: we don't need a stash of silver anymore as we don't use it anymore as money, and soon also not anymore as store of value, or inflation play. Having said all that I think short term, the coming 5/10 years the commodity cycle may continue, or the credit/counterparty crises may become much worse and push gold/silver upwards. But risk/reward is not as good at all compared to bitcoin so a little gold/silver compared to bitcoin makes sense. A lot not. All money acts as a commodity (including bitcoin). Precious metal and cryptocurrency are not in conflict as money, they complement each other. Crypto is best for long distance transaction, precious metal for local. Bitcoin obsoletes fiat currencies, but not precious metal, in the same way that paper money took its value from gold and silver coins in your grandparents time, bitcoin has value from what it buys. When a commodity money finds a "higher use" it is because it is worth more with that use than it is as money. For example Mastercoin and colored coin claim to be a higher use of bitcoin (use of the protocol as a trading platform). Bitcoin transactions are traceable and trackable and are recorded in the block chain for all time, each are uniquely serialized. Coins (unlike paper money) have no serial numbers. Each are like all the others (fungible). They are different types of money, different purposes and barely overlap, this makes them very compatible in the currency marketplace. |
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If you want to manage production costs, there are some very good jewelry factories I work with.
One in Burbank that does my electroplating is really good.
They can produce at high quality and at low price.
Next time we chat, remind me.
For sure.. I have a sneaking suspicion that both your species and these bracelets will be worth a lot more in fiat terms in 20-30 years. I mean as initial art specimens derived from what could become a new money standard, I'm excited having both. All I need is some Casascius coins to round out my collection. BTW, I would like to purchase some of the regular silver species from you before my overseas trip in December so I can give to friends in Europe and spread the word re. bitcoin, and also would like to buy maybe two or three more of the satoshi white paper species as gifts. I am out of town for a bit Tuesday (and I recall your saying no more 5 year satoshi species after October), so we ought to either meet up and consummate the deal or maybe agree to set some aside pending my return (probably Friday November 1st) if you're amenable. All good, I expect to be here all week. |
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You might hang on to these... I am expecting some news that is going to make their value soar.
Very neat, thanks, I'd be interested to hear whats going on if it isn't a hush hush type of thing. Someone got a steal, winning the auction at 0.2298 BTC. Its been more than two and a half years since the trial, with no sentence. The prosecution was defective, they didn't prove, much less allege, all the elements of any crime, but they rested their case and still got a guilty verdict from the jury. Juries are unpredictable that way. Justice dictates that there be no sentence and the verdict be overturned, the question is how. Something is amiss, either the jury (likely), the ineffective government supplied defense counsel for not requesting the right jury... or something. No court want's to be appealed and overturned, so it is likely to happen at the lower court. When it does, it will resolve many questions regarding these pieces of historic consequence. But yes that is a steal, if only I didn't have house guests and could have attended. Wow.. that price.  |
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Yes but it does give bitcoin a physical presence out there in the real world.
Why does a non physical currency need a physical presence? Might as well ask: Why does love need sex? (People are physical.) No hormones and neurotransmitters (for love/sex). I hope people don't get off on their gold. Makes me think twice about buying any of them  Hmm...Thought we were talking about ATMs? Why does math need engineering? But you are right, we need Bitcoin Gold Specie too. Like the virtual dollars used to have silver and gold pieces, back when it worked. |
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Yes but it does give bitcoin a physical presence out there in the real world.
Why does a non physical currency need a physical presence? Might as well ask: Why does love need sex? (People are physical.) |
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Exactly 619478.59338440 MSC were created and no more will ever be created. When asked about it, I think Willet replied: "...well, I don't want to say ' never'" What if you had the choice: the projects dies for lack of development resources - or - 10% dilution for all participants to reach a spectacular success? I'd take choice #2. Never say never. Or 'ever'.  More Mastercoins doesn't dilute anything if the project is a success. Development resources would come from Bitcoin once the decentralized exchange is built. I don't see how it will be an issue at all. Also you'll have many commercial interests and venture capitalists who will pour millions into it if it even looks like its a success. With such ample and excellent development resources, one might first question other aspects of the project. |
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It would be interesting if there were a pool created to bid on them, the pool sells shares in the pool to raise the bidding fund. Big buyers are waiting, not buying on exchanges because of expected sales, many/most of the forfeiture auction bidders joined the pool. Others sold bitcoin to join the pool depressing the bitcoin price further, the pool buys the forfeiture against a thin bidding market at a low price in an artificially depressed period due to the effects of the sale.
This would actually be a good idea. First, it would probably ultimately be profitable to whoever places the winning bid, even if uncertainty about what will happen with the BTC might depress prices in the short term. Second, it would help protect BTC against the possible impact of some rapacious bandit simply lowballing it for 10% or under and then dumping it, simply by forcing the selling price somewhat closer to true value. If this were a movie script, they might cast the the mining pools as the groups that diversify into this arena. They have most of the security and structure and constituency to accomplish it, and their current model is failing, and they might be able to handle these US legal issues more simply. |
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If you want to manage production costs, there are some very good jewelry factories I work with.
One in Burbank that does my electroplating is really good.
They can produce at high quality and at low price.
Next time we chat, remind me.
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 We may be in a redo of March 2013... |
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Just watch the charts, they suggest a large drop very soon.
Are you watching stock charts? I was also wondering. Maybe stock charts, star charts, or ballistic charts. Probably not bitcoin charts |
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It's a fail on his part and now that amount could crash the price.
Actually, by having the coins locked up for who knows how long, it increases the exchange rate. When Bitcoin becomes mainstream, it shouldn't have that much of an effect when they're finally liquidated. Why not much effect? When "bitcoin goes mainstream" 50M today may be 5B Percentage on seizure was about 1% of total coins, and should have about the same relative effect to the price if they are abruptly liquidated, regardless what the exchange rate is, (as long as bitcoin's monetary stock is very much smaller than dollar's). Exactly |
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It's a fail on his part and now that amount could crash the price.
Actually, by having the coins locked up for who knows how long, it increases the exchange rate. When Bitcoin becomes mainstream, it shouldn't have that much of an effect when they're finally liquidated. Why not much effect? When "bitcoin goes mainstream" 50M today may be 5B |
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a moderation of development speed expectations. This was the death of ColoredCoins. Avoid excessive moderation. Only moderate moderation. |
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I would like to see an auction also. Let me get some of those coins for cheap.
We may see bitcoin price depressions near the end of the trials when expectations of selling these rise. The sale will likely be forfeiture auction. It would be interesting if there were a pool created to bid on them, the pool sells shares in the pool to raise the bidding fund. Big buyers are waiting, not buying on exchanges because of expected sales, many/most of the forfeiture auction bidders joined the pool. Others sold bitcoin to join the pool depressing the bitcoin price further, the pool buys the forfeiture against a thin bidding market at a low price in an artificially depressed period due to the effects of the sale. |
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re:619,478 Mastercoins exist !- a fixed cap (no new Mastercoins will ever be created).WOW this is awesome if its true!  Not true. Not good and not true. A system as big as Mastercoin is pretty hard to build well. It's going to take tons more money than we have in the bank today to perfect everything. There will be a 'B'-round of financing. Oh, I know JR doesn't want to - but it will be very good for everyone when it comes time to raise that second round and press on with development vigorously. This is going to take some serious coin. Probably, everyone will be asked to kick in a percentage of their holding in new cash. Then, nobody gets diluted. If you decide not to up your investment - then you get pushed down with a dilution. This could be done without creating more coins. But, it will probably be easier to just issue some new coins. That is not a nightmare. It is good for everyone involved to bring in additional development funds. No big deal. Let bitcoin keep their weird idealisms regarding a deflationary currency. We can and should have an administration who can apply reason and method to fund the next stage. If everyone kicked in a percentage of their mastercoin, which was then sold to fund development, it amounts to about the same thing. Either way it is like a tax or on current holders, dilution to fund growth is like inflation, it hits everyone. The largest holders are hit most (maybe why JR is resistant to the idea?). Whether the value goes up from there depends entirely on how the funds are used. Alternatively, since the development fund is bitcoin, it has increased in value as I'd predicted (here) your development fund will grow (and it has) by virtue of bitcoin price appreciation. And so I am somewhat skeptical that taxes, or B round, are as necessary as you assume. It may only require a moderation of development speed expectations. |
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Land you "own" isn't really yours.
Could you tell, what is the difference in this regard, between: - bitcoins - gold - land? How hard it is for another entity to claim it from you? Land is completely effortless for a state to take (and they have and will). Gold takes more effort because it's hideable but states have (USA at least did) and probably will again. Bitcoin is hardest to claim and given proper security needs 1) to physically capture the owner (not required with the other two) and 2) physically or mentally force him to give up ownership. Bitcoin (or actually cryptocurrencies) is the only holding in which in the end they need my cooperation. Sure, torturing someone into doing pretty much anything is possible but since they need me it's more secure then other holdings and more MINE. http://www.youtube.com/watch?v=p-3e0EkvIEMLand and gold are somewhat harder to take by means of a computer insecurity. |
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