yeah ever since I got involved with bitcoins... my ideology is slowly changing from
being pro socialism to pro libertarianism...
I now feel happy and liberated when I think about the pleasures of personal wealth..
are you having such changes?
Careful! You'll end up an anarchist in another year!  But the principles are more important than the profit. |
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Honestly, please someone tell me how wrong this is: I would create an electrum wallet. Memorize the seed. Repeat it to myself everyday. and ALSO keep it on a piece of paper in two different locations in a safe or so.
I don't think I would record the entire seed in plain text on paper anywhere. Maybe write down questions that only you and those you trust (heirs) would know the anwsers to, which would make up the seed. |
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Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc. I'm looking for real responses and ideas. Please keep the trolling to a minimum  On an encrypted paper wallet generated by a Piper Wallet with backup copies stored in alternate locations. |
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The number of AM shares being traded on Havelock continues to rise. There are now a total of 31,271 shares on Havelock, up from 28,166 on June 3rd and 27,320 on May 26th (28,016 shares to back AM1 and 3255 to back AM100). That's slightly over 19% of the 163,962 AM shares that are held by the public.
Where do you get volume on Havelock? Sorry, I should have said "held" instead of "traded". |
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The number of AM shares being traded on Havelock continues to rise. There are now a total of 31,271 shares on Havelock, up from 28,166 on June 3rd and 27,320 on May 26th (28,016 shares to back AM1 and 3255 to back AM100). That's slightly over 19% of the 163,962 AM shares that are held by the public.
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Backing is just a promise waiting to be broken.
Another great way of putting it and I completely agree. I'm not interested in promises from bankers or politicians. |
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This is a much more accurate description of what bitcoin is then how the OP describes bitcoin.
Owning bitcoin is like owing dollars, or euros, or yen. It is a currency.
it may be more accurate than OP's statement, but it's not the full story. it's like owning a currency and commodity (investment) rolled into one. there needs to be a new word for it, because that goes over most peoples' heads. How are bitcoins a commodity? Are all currencies a commodity? |
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He believes in limited government. He believes in a gold standard. He believes the only job of government is to protect life, liberty, and property. No more, no less. There are a lot of problems with our gov, no doubt. But I think the fact that Peter consistently puts his money where his mouth is says a lot about his integrity. He's no hypocrit, far from it.
I didn't accuse him of being a hypocrite. I accused him of believing the fiat scam can be brought to an end via the political process. His idea of a gold standard is "let's let the bankers hold all of the gold and issue paper to the people". Fuck that. That's already been tried. It failed. For some inexplicable reason he believes it will work out just fine if they just try it one more time. |
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Everybody laughed at him all the way up until the housing crisis occurred. People are laughing at him now regarding the crash of USD. Now all of the people that laughed at him won't even talk to him. The whole bitcoin community laughs at him. I think he's right. Bitcoin is a bubble. Peter says, "If it looks like a bubble, walks like a bubble, and quacks like a bubble, it's probably a bubble. And if there's one thing I know, it's bubbles." When/if bitcoin goes main stream, all of the early adopters holding hundreds or thousands of bitcoins will cash out all at once. Then it will crash. Bitcoin is a means to something greater. Only time and ingenuity will tell what that is.
And keep in mind that Peter doesn't really accept bitcoin for gold. He uses bitpay.
He still believes in the political process and that the way to fix the system is to reform it from the inside. He thinks the solution is to just get the right people into power. He seems to prefer "top down" solutions over "bottom up" solutions. He even flushed a lot of his own money down the toilet on a run for the Senate a few years ago. |
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Not really. World's economy is far bigger than 21 trillion USD.
The amount of debt that will be amassed by the politicians in the US federal government will probably surpass 21 trillion USD shortly after Hillary moves back into the White House. That would be 1 million USD of debt for each bitcoin that will ever exist. So, it's not hard to imagine 1 million USD/BTC. |
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Knowing the U.S. and the history of inflationary monetary systems we'll all be trillionaires in no time
Yeah, there were many trillionaires in Zimbabwe as their currency was collapsing. Same will happen with the USD. It's not a question of "if", but "when". |
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Devils advocate. What's backing bitcoin?
Bitcoins, like precious metals, don't need backing because they are scarce. It's paper, which is not scarce, that needs to be backed with something like gold or bitcoins that are limited in supply. |
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Yep Bitcoin is a stock.
Where are the revenues, expenses, and profits? Nope, not a stock. Bitcoins have the attributes of and fulfill the functions of money. You could ask the same questions about Amazon over the last decade and be equally as baffled Wrong again. Information from Amazon's financial statements can easily be found here. There's nothing to be baffled about regarding Bitcoin or Amazon. One is a publicly traded company and the other is a decentralized digital cryptocurrency. Information on Bitcoin is even easier as it is always free and likely not manipulated by con artists. Amazon price tied to profits is pure fiction and is a figment of your imagination, you have been conned by the forces of finance. There is no difference between Bitcoin's price tied to its own imaginary fundamentals and Amazon's valuation of speculation and imagination. Stocks when originally conceived were true ownership, today that is almost always far from the truth unless you happen to own a different class of stock than what is highly traded on the exchanges. Huh? I didn't say anything about being able to find information on Bitcoin, market manipulation, Amazon's share price being tied to profits, Bitcoin's price, or why stocks were originally conceived. What I did say is that it is easy to find information from Amazon's financial statements and I provided you with a link to that information because you were "baffled" about where to find it. Whether that information is accurate or not is an entirely different matter, not related to the topic of this thread, and irrelevant to me because I don't own or have any desire to own shares of Amazon. You won't find these financial reports for Bitcoin, (or gold, or silver, or the dollar, or the euro, etc.) because they don't exist. They don't exist because Bitcoin is not a publicly traded company with revenues and expenses--it's a currency. You mention fundamentals like it is a magic word that differentiates Bitcoin from a stock. That word alone is rather meaningless and only represents measurements you use to justify paying X$ for a stock. Bitcoin itself has far more "fundamentals" than gold silver or fiat because of its digital and service based nature. Suggesting that Bitcoin is different because it doesn't have fundamentals is a silly argument. Ask yourself what the hell a stock even is, what it truly is and what you are truly purchasing. It is a figment of imagination far more than Bitcoin is. If you think it isn't, do some research. You're going off on a tangent again. I never mentioned the word "fundamentals". Shares of stock are issued by publicly traded companies and those companies have revenues and expenses. Bitcoin does not have revenues or expenses, because it is not a company and therefore it is not a stock. It really is that simple. It's not even an argument, it's just a simple fact. Sounds like you need to take your own advice. You might want to look into the functions and characteristics of money while you're at it too. Bitcoin is no more a stock than the dollar, the euro, the yen, gold, or silver are. These are all forms of money that could be used to measure revenues and expenses, but that doesn't make them companies with revenues and expenses. |
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Yep Bitcoin is a stock.
Where are the revenues, expenses, and profits? Nope, not a stock. Bitcoins have the attributes of and fulfill the functions of money. You could ask the same questions about Amazon over the last decade and be equally as baffled Wrong again. Information from Amazon's financial statements can easily be found here. There's nothing to be baffled about regarding Bitcoin or Amazon. One is a publicly traded company and the other is a decentralized digital cryptocurrency. Information on Bitcoin is even easier as it is always free and likely not manipulated by con artists. Amazon price tied to profits is pure fiction and is a figment of your imagination, you have been conned by the forces of finance. There is no difference between Bitcoin's price tied to its own imaginary fundamentals and Amazon's valuation of speculation and imagination. Stocks when originally conceived were true ownership, today that is almost always far from the truth unless you happen to own a different class of stock than what is highly traded on the exchanges. Huh? I didn't say anything about being able to find information on Bitcoin, market manipulation, Amazon's share price being tied to profits, Bitcoin's price, or why stocks were originally conceived. What I did say is that it is easy to find information from Amazon's financial statements and I provided you with a link to that information because you were "baffled" about where to find it. Whether that information is accurate or not is an entirely different matter, not related to the topic of this thread, and irrelevant to me because I don't own or have any desire to own shares of Amazon. You won't find these financial reports for Bitcoin, (or gold, or silver, or the dollar, or the euro, etc.) because they don't exist. They don't exist because Bitcoin is not a publicly traded company with revenues and expenses--it's a currency. |
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Yep Bitcoin is a stock.
Where are the revenues, expenses, and profits? Nope, not a stock. Bitcoins have the attributes of and fulfill the functions of money. You could ask the same questions about Amazon over the last decade and be equally as baffled Wrong again. Information from Amazon's financial statements can easily be found here. There's nothing to be baffled about regarding Bitcoin or Amazon. One is a publicly traded company and the other is a decentralized digital cryptocurrency. |
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Yep Bitcoin is a stock.
Where are the revenues, expenses, and profits? Nope, not a stock. Bitcoins have the attributes of and fulfill the functions of money. |
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So we will need another $2,000,000,000 just to maintain current prices?!
And we are making a big deal out of the "100's of millions" Wall Street could theoretically bring in soon?
I just went from extremely bullish to "Wow, I guess this is why bitcoins are still an incredibly high risk asset".
Yeah, I also heard that something like 13 million bitcoins have been created in the last five and a half years. |
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Id settle for a FC post answering questions and giving a general update myself.
You can have the update. I'll take a .25 BTC dividend per share. |
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shawshankinmate - project is located in Netherlands, Amsterdam area
Where at in Amsterdam? Address? Can you provide a pic of yourself holding a piece of paper with your handle and today's date on it, so potential investors can be sure that you're not a known scammer like Mark Karpeles, Danny Brewster, etc who's just using a sock puppet? |
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