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301  Economy / Economics / Re: Lyth0s' Economic Troubles Thread on: March 25, 2015, 02:15:40 AM
News 3/24/15


Feds Urge Banks to Call Cops on Customers Who Withdraw $5,000 or More
Quote


But as investor and financial blogger Simon Black points out, last week, “A senior official from the Justice Department spoke to a group of bankers about the need for them to rat out their customers to the police.”

Assistant attorney general Leslie Caldwell gave a speech in which he urged banks to “alert law enforcement authorities about the problem” so that police can “seize the funds” or at least “initiate an investigation”.

As Black highlights, according to the handbook for the Federal Financial Institution Examination Council, such suspicious activity includes, “Transactions conducted or attempted by, at, or through the bank (or an affiliate) and aggregating $5,000 or more…”

--"War on cash intensifies"

302  Economy / Speculation / Re: [Trading Simulator] A fun & free Speculation Game - ACTIVITY CHECK until 03-24 on: March 25, 2015, 01:58:35 AM
Checking in for this activity check and I will continue to hold. I'm only up about 1%, but better than being at a loss Smiley
303  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 24, 2015, 11:57:57 PM
Just got online to see the massive 4k volume dumps on bitfinex. Is there any potential reasoning behind these dumps or just the market going down?
304  Economy / Economics / Re: Lyth0s' Economic Troubles Thread on: March 24, 2015, 03:47:23 AM
News 3/23/15

Fighting the "War on Terror " by Banning Cash [In France]

Quote
... France has taken the first step.  It seems the terrorists involved partially financed these attacks by cash, as well as by consumer loans and the sale of counterfeit goods.
French Finance Minister Michel Sapin brazenly stated  that it was necessary to "fight against the use of cash and anonymity in the French economy."  He then announced extreme and despotic measures to further restrict the use of cash by French residents and to spy on and pry into their financial affairs.

These measures, which  will be implemented in September 2015, include prohibiting  French residents from making cash payments of more than 1,000 euros, down from the current limit of  3,000 euros.

--Further fiat restrictions and they will only help hinder the unbanked even more. Hopefully the working poor in France aren't as reliant on check cashing services to convert their paychecks into cash to then pay their bills as much as it occurs in the US.

Goldman Sachs says we aren't in a bubble... yet
Quote
NEW YORK (MarketWatch) — Don’t fret. Stocks aren’t overheating. That is the message Goldman Sachs chief global strategist Peter Oppenheimer, offered up on CNBC on Monday.

The Goldman strategist included the key term “yet” in his comments about the growing fear in the market that stock’s are getting too rich.

--They are definitely in the money making business, but also they are not the best people to be trusting when it comes to bubbles and crashes.
305  Economy / Economics / Re: $18 trillion in debt. $18 trillion is a lot of money... on: March 24, 2015, 03:37:26 AM
It does not matter, as long as government can borrow trillions of money from FED and pay back the debt, and as long as the dollar they borrow have same acceptance as previous dollar

The only thing could crash all these is the dollar's acceptance, if dollar is still accepted anywhere, then this game could continue. And what is going to prevent dollar from being accepted everywhere?

Loss of faith in the dollar could lead it to its collapse. The scenario with the highest possibility of occurring is a massive bail-in sometime in the next 10 years or hyperinflation resulting from USD held by foreigners returning the US market.
306  Bitcoin / Bitcoin Discussion / Re: i doned it i buried my private keys in concrete underground no one will know on: March 24, 2015, 03:35:09 AM
I think the safest place to hide your private key is the blockchain, since the bitcoin network is immortal. Just need to figure out how to encode into some of the blocks

That's a pretty cool idea Johnyj, I should just follow your post history to read the good stuff you come up with. Unfortunately your typing is otherwise wasted in this specific topic as the OP is just another Lampchop troll.
307  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: ► ► ► Cryptonic PHYSICAL MONEROj for SALE on: March 23, 2015, 10:18:15 PM
How many ounces does each .999x Monero coin weigh? I don't see that information in the OP or on the website.
308  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 23, 2015, 04:35:25 PM
Without a WalletNotify API within bitmoneroed does that limit the ability of exchanges or potentially a marketplace from incorporating Monero as the primary transaction payement service?

No, as evidenced by the several exchanges that have already done it (including a few more that aren't around any more).

Walletnotify/blocknotify are are APIs from bitcoin (and bitcoin forks) and when we support something closer to those (it likely won't ever be exact because of the inherent differences in the technology), it will become easier to integrate with systems already supporting those other coins. But without them it can obviously still be done, just with a bit more work.



Ok well then in terms of question Number 2. At $0.70-$0.75 isn't Monero under priced if it were to ever be used in lets say an underground market for example? And what other barriers would there be to implementation of Monero in such a marketplace if any?

The only right way to think about if something will go up or down is to think it from the perspective of supply/demand intermediation.
Supply we know from the parameters. Then you ask yourself a question will there be more propensity to hold coins than today. Note, if there are 2 guys holding each coin for 1 week and one coin per person, it means one coin is held 2 weeks (for instance, if I am paying my rent with 1 xmr after holding it for one week and the landlord of my appartment is holding the coin for 1 more week before cashing it out, the coin is held 2 weeks, but in the hands of different persons).
Therefore, creating chains of holders is important for developing the Monero economy after we have some kind of merchant acceptance.
Now we still are in the age of speculation so we need to think if the willingness to hold a coin will decrease or increase from the current level. Personally I think the price of the coin doesn't matter wether it is under/overpriced, all that matters is, will there be more held coins vs. emitted coins in the future than there is now.
I am optimistic in this and therefore I am holding. I am thinking there is relatively high chance of higher amounts of coins held than there is now. If I didn't think in this way I would have dumped (all) my coins long time ago.

Even if Monero fails in getting merchants, it doesn't mean it wouldn't succeed better than bitcoin. Monero is kind of better coin for storing wealth, in this it is a little bit like UNO but with bigger community.
The network-effect and adoption will happen by raising the price little by little all the time and making sure, the long term holders will not be at loss. That will create satisfied salesmen for the coin and the price can rise exponentially.

My point with the market place is that would be a reason for non-holders to then grab some monero and "hold" it (or part of it) at least for as long as they conduct business on the marketplace and thus increasing the demand. Right now other than speculation and potentially using xmr.to there are even less use cases for Monero than Bitcoin. Not that it's a bad thing (we are just early in the game), but it speaks to its upside price potential being much greater than it is now.
309  Economy / Collectibles / Re: [WTS] Original Bitcoin-themed Art with Bitcoin 2.0 Tokens on: March 23, 2015, 07:45:03 AM
I think the Counterparty tokens are a great addition to these art pieces. Have you thought about making any type of bitcoin related objects (such as a bitcoin lighter/knife/etc) to add to your sales?

Edit: If you could have a nice custom bitcoin lighter (Zippo style) or knife made with an accompanying Bitcoin 2.0 asset for a reasonable price I will most likely purchase one Smiley
I actually have a bunch of 3d printed models that I've created. I'll get some pics of those up in case they're of interest. I could possibly 3d print a Bitcoin-themed handle to complete a knife blade but would need some idea of what shape of knife would work best to begin.

Ok very cool. yes please show me the 3rd models you have printed. Can you upload them tonight? Or can you at least tell  me what the models are of?
310  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 23, 2015, 07:11:12 AM
Potentially a large volume price spike in the next 15 minutes, lets see how this pans out.

Edit: Well there goes that.
311  Bitcoin / Press / Re: [2015-03-21]WHEN THE DOLLAR COLLAPSES, WHICH IS BETTER FOR YOU? GOLD OR BITCOIN? on: March 23, 2015, 07:09:48 AM
I would choose 1/3 gold, 1/3 silver and 1/3 bitcoins.

Bitcoin's future is probably bright but obviously uncertain. Same with gold and silver, although they have been around for thousands of years.

Just to be safe.

Are you using gold and silver as a Money though? Or simply as a store of value?
312  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 23, 2015, 07:08:32 AM
Without a WalletNotify API within bitmoneroed does that limit the ability of exchanges or potentially a marketplace from incorporating Monero as the primary transaction payement service?

No, as evidenced by the several exchanges that have already done it (including a few more that aren't around any more).

Walletnotify/blocknotify are are APIs from bitcoin (and bitcoin forks) and when we support something closer to those (it likely won't ever be exact because of the inherent differences in the technology), it will become easier to integrate with systems already supporting those other coins. But without them it can obviously still be done, just with a bit more work.



Ok well then in terms of question Number 2. At $0.70-$0.75 isn't Monero under priced if it were to ever be used in lets say an underground market for example? And what other barriers would there be to implementation of Monero in such a marketplace if any?
313  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 23, 2015, 06:43:55 AM
Without a WalletNotify API within bitmoneroed does that limit the ability of exchanges or potentially a marketplace from incorporating Monero as the primary transaction payement service? And at only $0.75 per XMR, don't you guys think Monero is still severely undervalued if it ever became incorporated as the main payment method of a marketplace whether it be an underground marketplace or not...
314  Economy / Collectibles / Re: [WTS] Original Bitcoin-themed Art with Bitcoin 2.0 Tokens on: March 23, 2015, 06:18:11 AM
I think the Counterparty tokens are a great addition to these art pieces. Have you thought about making any type of bitcoin related objects (such as a bitcoin lighter/knife/etc) to add to your sales?



Edit: If you could have a nice custom bitcoin lighter (Zippo style) or knife made with an accompanying Bitcoin 2.0 asset for a reasonable price I will most likely purchase one Smiley
315  Bitcoin / Press / Re: [2015-03-21]WHEN THE DOLLAR COLLAPSES, WHICH IS BETTER FOR YOU? GOLD OR BITCOIN? on: March 23, 2015, 06:12:21 AM
As long as bitcoin continues to have value bitcoin could perform the roll of money easier than gold. The problem with gold is that its divisibility is limited and even more so if it's price rises. Like I've said in the past, I'm not one for going back to carrying satchels of gold dust around with me to make daily purchases. Tongue
316  Bitcoin / Press / Re: [03-22-2015] When Does Bitcoin Become Money? on: March 23, 2015, 06:10:37 AM
Money has to be a good store of value, so we are talking a very very very long time from now. It would have to be post-massive world adoption in order to have stability. It could meet all the other requirements of money prior to being a good store of value though. Unless you consider rising value to be a good "store" of value. If you keep your definition to rising value = store of value then that could be very soon Smiley
317  Bitcoin / Press / Re: [03-22-2015] Coinbase Hits 2.1m Users Milestone on: March 23, 2015, 06:07:49 AM
Yeah I've had nothing but good experiences with Coinbase as well and I have also recommended them to my friends when they want to get into bitcoin. However, some people have claimed that they didn't give purchased bitcoins during the previous bubble and just flagged their accounts as suspicious but that never happened to me.
318  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 23, 2015, 02:10:07 AM
I still wonder why almost all of the recent price increases are based on small time frame large 2-3 thousand volume candles. And I still wonder if some sort of institutional investor is buying the coins, waiting for the next dip and rebuying in order to cause less of a price hike. If you look at the finiex 15 minute candles you will see two large 3k volume boosts in price followed by a decline back to the baseline ~300 volume. Looks like a single person buying to me.
319  Economy / Economics / Re: US Dollar collapse in 2015? on: March 23, 2015, 02:03:56 AM
I don't think usd can collapse any soon. Eur and chf are riskier right now

Exactly. The collapse potential of the Euro is much much higher right now than the USD. With that being said though in terms of real price inflation in the US that may go up very quickly in the short term if china starts dumping their USD back into our economy in exchange for goods and precious metals.
320  Bitcoin / Bitcoin Discussion / Re: Bitcoiner is climbing Everest and will put a Bitcoin flag almost on the top on: March 23, 2015, 02:00:37 AM
It would be funny if he gets 95% of the way to the top, and then manages to tumble all the way down to 25% elevation and survives, plants flag.

He's going to place the flag at 5,000 meters which is really no where near the top. I think the idea is cool if he made it all the way to the top to plant it and would come with a certain amount of infamy within the bitcoin community. Also he could have spent a few more bucks on a nice flag >.<
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