Interesting little rally here. This is beyond what we saw earlier when a few whales pushed the price to $145-~$149, and then the price receded quickly, asks rebounded sharply.
Its just a constant small buying pressure. And bids are looking, relatively, great.
Wall at 145 is going to get some paint knocked off of it. |
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So bears ?
Bull trap in the works. No way we will break the 150. Will see a slow grind to 110... We´ll walk it up to 145. |
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Any videos on YouTube from the event for those who couldn't make it?
Paige from BitPay shot most of the presentation, so it may show up yet |
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The Bitcoin protocol is not "backed" by any single entity, such as a company, individual or organized government. A sole instance of "backing" requires a "backer", and troublesome point of failure. If we must place a persona behind the protocol, we'd say that it's backed by the users (the market). In this way, the "backing" is egalitarian and spread across the network. We could then ask why the market has chosen to "back" or support Bitcoin. A government entity, for example, has an obvious interest in backing it's own currency. Why do the users of Bitcoin "back" it? Because the users believe it has value, due to it's specific attributes, which make it a great store of value and medium of exchange.  I'm backing it with silver and soon also gold. Fully redeemable. And so can you, or with the asset of your choosing. A decentralized bank vs central banking. |
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3 We would like to use stock footage of different TV channels and other resources (anyone remember that Good Wife episode;)?) To use it in our open domain-like licensed movie will be difficult. Any ideas? Practice experience, work arounds? Please provide legal facts if you can!
That's not stock footage you're talking about. Stock footage exists precisely so it can be used elsewhere and is generally fairly reasonably priced. Nobody creating content on the level of US national tv is going to give you the right to use their footage in your documentary unless you can afford to pay quite a lot of money though - that's a completely different ballgame. What if I excempt their footage from the free to use license of my movie? Permission might be granted. Especially if it is short enough, or already reproduced elsewhere publicly, and you acknowledge fully in the credits. Further you may be protected by the Fair Use doctrine, even if you don't get permission. http://en.wikipedia.org/wiki/Fair_useIf it enhances the marketability of the original work and is used referentially, you have a pretty good defense. If your budget is such that having to defend will sink you, then you might want to avoid the challenge. |
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I was overjoyed to hear my keychains brought two people to our Los Angeles Bitcoin Meetup last night, and helped spread belief in Bitcoin! How did that happen? One of the meetup organizers had a Bitcoin keychain on his keyring, and a person noticed it when they were both at a coffee house. The person asked about the keychain, and that lead to a discussion about bitcoin. The organizer told the person about the meetup, so the new person came and also brought a friend who was visiting for a few days. The friend knew nothing about Bitcoin, but after the meetup, she is now a convert, and returning to her home in China as such.  For all the ones you hear about, there are many you don't hear about. |
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1 ozt gold is very close to 10BTC at the moment, so that is the nominal value we are putting on the Gold Bitcoin Specie pieces.
The QR will give the current spot market value as it changes across the years in most currencies.
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i hate gold with a passion.
If you end up with any by tragic accident, I can ease that suffering by taking it off your hands. Have to keep my refinery well fed. |
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what is Midas?
Midas is the new trading engine, that can do 500k transactions/second, so we can flashcrash to 0 in a matter of seconds when fbi dumps those SR seized coins  Wow, getting cheap near zero bitcoins from the FBI... wouldn't that be a sweet gift. |
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I have to agree with Blitz on this one.
their no doubt that gold has been victim of speculation.
If the dollar has lost so much value, why is it virtually all other commodities have not skyrocketed like gold?
sure everything has gotten more expensive in the past ten years, but nothing like gold.
gold price shooting up should be viewed as people predicting/speculating the dollar will fall in value.
gold was hyped to no end.... look around you see buy gold buy gold everywhere.
gold has priced in the next 10 years worth of inflation.
Speculation, heh heh, you could call it that, but it isn't the normal sort of speculation... Gold is more manipulated than any other commodity. It is the only commodity that is classified as a currency by BASEL and the central banks. They central banks have as a part of their reason for existing, the manipulation of the BASEL listed currencies against each other. It is the only such currency that is not also a geographically defined one, so it is especially manipulated. The folks doing this manipulation are many orders of magnitude more monetarily influential than "speculators". Yes, "hyping" is a bearish indicator. I am not suggesting that the gold/dollar price is going to rise in any particular timeframe, but I also don't pretend to know what the next 10 years of inflation are going to bring. The gold price doesn't move by traders buying and selling more than a little, the price moves by central banks and their bullion banks moving it. The ETFs gave these folks massive leverage power over gold. The price direction is not for us to say, it is for the generals of the currency war. The retail market is not the market. |
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Gold is not going up. It's the dollar that's losing value.
If anything in the marketplace should be the yardstick of value, it is gold, not USD. So you should price USD in terms of gold and you will see a very different picture. Don't let the "upward run" of gold deceive you. Gold isn't changing, the dollars are.
Are you kidding me? The gains in Gold the last 10 yrs or so reflect much more than just the inflation, it’s a speculative bubble.  Maybe there is some speculation, but the price collapse is not a bubble popping so much as it is an engineered event. |
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I tend to start missing the Netherlands at about the time I head to Schiphol.
What a great event. Thank you for the videos.
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Good times last night! Wow, what a turnout. So many people, so many projects.
The night ended far too soon.
Since there may not be another LA meetup before Oct 31 (when the Satoshi Nakamoto Whitepaper 5th anniversary commemorative becomes no longer available) if you wanted to get one and missed me there, let me know soon and we will find a way.
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And how hard it would be to move around such a firewall?
For some, easy, for most, not so much. The Chinese experience could be instructive on national firewalls. People often believe what they are told authoritatively, and so first the firewall is built in the minds of the people. |
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The keychain sparks conversations. Everyone should have at least one.
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100 RSVPs ... people will think there is a new club opening.
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GOLD TEST #1 - SUCCESSFUL We received our Gold electroplated silver quarter bitcoin test pieces back today. The QR is readable, so that is good news, and wow... I like the look of them in gold. If anyone is looking for something special for the holidays, a .999 fine silver quarter bitcoin specie electroplated in gold would make a nice surprise. After seeing these, I may make some ornament for special friends and family that celebrate the winter holidays. If anyone else has a similar notion, let me know and I will hook you up. The 1 oz Gold piece will be a TEN BITCOIN nominal value, but of course the actual price will vary as the BTC/AG rate changes, hence the need for the QR. The best reading I've done on a practical gold standard for a backed currency is a volume by Richard Salsman called "Gold and Liberty" published by A.I.E.R. http://www.amazon.com/Gold-liberty-Economic-education-bulletin/dp/B0006PFFZOIn this excellent treatise, Salsman describes the history of the many different gold standards (including some detail on the 3 gold standards that have been tried in the US) and how and why each one fell, and broadly hints at how a durable, flexible, free-market gold standard along with Free Banking are the way forward for a market driven currency whose value is not dependent on a central bank or government structure. Though it was authored in 1995, it calls out the need for a system such as we are working toward with this project. A decentralized currency, with decentralized backing, and a flexible gold standard based on the free market valuation of the underlying precious metals. Salsman also, I think rightly, offers his skepticism that this sort of system will be fostered by government institutions and if it is, will fall prey to the political expediencies of the day. It is our delight to be adhering to this model closely along with the innovative additions provided by Bitcoin that make it possible to achieve together in our lifetimes. Bitcoin will be the best global online currency, backed and redeemable in the bimetallic standard of gold and silver, with a real-time exchange rate accessible directly from the specie itself. |
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