I have just learned that I have some competition!  It is flattering to have copiers. Looks like he tried to hurry it out though. Generally I relish competition, and this is no exception. It is even more delightful that the competition is the notorious Rob Gray of the Mulligan Mint who is offering this piece: https://factorystore.mulliganmint.com/silver/1-oz/brilliant-uncirculated-quality/bit-coin.htmlI have had no personal dealings with Rob Gray. He has been one of the more prominent private minters, but I was not pleased with the treatment that he gave his mentor, Bernard von NotHaus (Architect of the Liberty Dollar) when Bernard was facing spurious charges from the US Feds for essentially being too successful with his alternate currency to the US dollar. It was during this time that Mr Gray took the body of work of Bernard von NotHaus and claimed that he had originated it and called it the American Open Currency Standard, and then proceeded to claim that the Liberty Dollar model upon which the AOCS was based was not compliant with the standard. This betrayal was at a time when Bernard was fighting for his freedom with the Feds (he still is). AOCS may have done much good, but having been founded on what I saw as a fraudulent misrepresentation, I would not join with his efforts. As it turns out this was not a bad decision on my part. Some of those who did quite a bit of business with him are currently in lawsuits attempting to get some millions of dollars worth of precious metals back from him according to these guys: http://mulliganmintexposed.com/I have attempted to place an order for some of these on his site, but it seems that it is not currently processing orders. I would like to evaluate his QR solution as it looks like the boarder is too narrow (it is a part of the QR which is often ignored). Reputedly this QR links to his store. It might be shut down because of this: http://thetgbreport.com/2013/08/01/mulligan-mint-assets-being-seized-today-article-5/The private minting world is a pretty small community, and I have been fairly open about what we are doing and our intentions with this offering. It looks like the word is out so... Now I have this challenge, to put more of these pieces into circulation than Rob Gray's pieces.  He may have ill gotten wealth to fund marketing programs, but no matter what may come, I have an 8 old promise to fulfill, made in NL, and so I will Thank you for those of you who have placed orders already, we think you will be very happy with what you will get. I welcome any questions on this or any other matter. |
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I got a phone response from a representative who points me to this documentation: http://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2013-G001.pdfThey have also stated that I need to determine whether I qualify as one of the following: User Exchanger Administrator According to the representative on the phone, if I fall into Categories that are not User, I will be required to create an AML policy and enforce my participatnts to use it. From your description you sound like a user, though if you want to be covered, then you get a lawyer to write a legal opinion for you and follow their advice. Relying on competent legal advice can show that you have no intent to break any law. "Intent" being a component in most any serious crime. |
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right now a selloff on bitstamp is drawing mtgox down. The position at 143.6 is being sold of peacemeal (and slowly, there still isn't any volume on gox). Volume on bitstamp is much higher than on gox right now  . People are becoming impatient with this whale who probably isnt going to come to the rescue. Right now a pullback is the only thing that can ensure a sustained rally. Buy whale will be shy as long as it looks like his volume will contribute to increasing slippage to the upside. Well.... maybe a pull back not the "only thing" that can ensure a sustained rally. Lots of buying over a long period of time could do that too, right? |
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Like a bank run... a self fulfilling prophesy.
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Holy smokes! When did China become a third of the total global exchange volume?!
And how fast are they coming up?
As expected. And also why Chinese ideograms for Freedom and Harmony bookmark the QR code on the reverse side of the new Silver Bitcoin 1 ozt COLD HARD CASH pieces:  |
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I may have months where I transmit nothing and other months where I transmit literally $1000's of dollars.
You've already capitulated on a matter of arguable fact. You have conceded that such activity meets the legal definition of money transmission. I feel this is a strategic mistake. Via legal precedent, taking on unsophisticated adversaries, as well as venue shopping, the 'legal system' will incrementally expand their side of the story, leaving the only available activities (i.e. still legal) as mere vaporous scraps. This is correct. Words used in technology are often not the words needed in Law. Sure, Transmit-Receive pairs on your RJ-45 pins 1,2,3,6 are transmitting your bitcoins... but if the opposing lawyer asks you that, it can be a trap. The judge may be bamboozled, and legal precedent set. Duplicity is a linguistic art form used to devastating effect in the law, and unless you are getting expert assistance from someone that speaks the local language of legalese, you are at a strong disadvantage. In my industry, folks are afraid to call a coin a coin unless it was made by a government, because governments have the ancient (non-exclusive) power to coin money. The verb form and the noun form may be used by a savvy lawyer to suggest that the minter is committing fraud by claiming to be a government, and that (possibly justifiable) fear has tarnished our industry for years. |
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Any requests from Cyprus? Maybe account opening forms for the Bank of Cyprus, for any gamblers attending.... From Cyprus, tales of the rise and fall of monetary haven status would be worth some drinks, "how Bitcoin saved ____". Knowledge is the greatest gift. |
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Awareness is growing... bit by bit. There is a lot of curiosity. I have found that physical objects do help some people to figure it out. This is part of why we are making these physical silver COLD HARD CASH Bitcoin specie pieces. For the Bitcoins in my wallet to be worth something, people have to want them.... We we find that people, and even especially women do appreciate the tangible, and the beautiful. Women tend to control more of the spending power in the household, and they also tend to have more appreciation for Gold and Silver. At the Libertopia Festival in San Diego this past weekend there was a lot of bitcoin curiosity and a few bitcoin experts. This is the sweet spot for bitcoin adoption, but there was not a lot of awareness, much less actual use. There were a whole bunch of folks there that wanted to "End The Fed", but few with a way forward. Even among those who have bitcoin, for many it is investment more than currency. This is the leverage point that we are working to change. Through the whole conference, I did manage to execute a number of bitcoin transactions but it wasn't always easy. |
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Good arithmetic here, but: There is a reason the welthy, and most other people for that part, have little money and lots of stuff. The reason is the inflation. What you call appreciating assets, is mostly inflation-safe assets. With sound money it is different, you don't have to panic buy these assets, therefore the demand for sound money might be higher than for fiat money, supporting a higher money value.
+1 That said entities that hold lots of coins are not powerful by means of the number of coins they hold. Bitcoons in a wallet have no real value until they are traded for something tangible.
New word: "Bitcoons" A Bitcoin tycoon! |
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Do you want me to take something from Spain? Your desire is my command Nah, I can get tacos and burritos around here too We don't have that in Spain, at least not the original from Mexico  Here we have sun, paella, bulls...  Mmmm, Paella Valenciana! But it is best fresh... For myself, I would like to get some old Pesetas for my collection, if there are any laying around unloved. 100s 500s or 25s with the hole in it are my favorites. Condition is not so important. I like to study how they wear out as well as how they look when they are new and beautiful. |
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Maybe gox is buying low from other sources(bitstamp, btc-e, etc).. and selling it high on gox.. someone alert the owners from bitstamp, etc about this possible shenanigan and stop it at its source.
Well, Gox "promised" not to do that. What does seem evident is that they have whales proxies who are getting their wires prioritized in order to keep liquidity flowing through the exchange. Otherwise the price would have been $10,000 yesterday. Is there "liquidity flowing through the exchange?" Or is most of the volume just trading back and forth within Mt. Gox's system? If some "whale" was able to get money out and exploit that huge spread, the spread would shrink. Nagle, do you read Forbes? Apparently ... Forbes reads you: http://www.forbes.com/sites/beltway/2013/09/03/how-bitcoin-spreads-violate-a-fundamental-economic-law/ |
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Have been tangentially following this thread for a while now, because I think the declared goal is interesting at least: to create a history of predictions (and track record of posters).
But in the end, I have to agree with cypherdog and thezerg, the methodology of RS is very much lacking and nothing useful is being created here unfortunately. It's cherry picking quotes, without any attempt to put them into a context (of price at the time, contrasting them with general forum sentiment at the time, etc.)
Yes, it would be good to have a clearing house for "intentional predictions" where they can be tracked. There is lots of informal supposition that can be construed as prediction. The oracles that want accountability should have a place to get that, with a clear methodology. I dont't think there's a way to make it work. This place is way too informal to really "track predictions", half of the time half of us are trolling anyway. And in a way, I like it like that. It would be interesting however to to have a thread in which every active member makes a, say, 1 or 2 month prediction (price range, overall development, etc.), and the ones that did best will get magical Internet points. Everyone likes those. Right. I was thinking something like that but with less structure and more real-time. So that when someone spots a pattern that means something to them, or has a dream, or reads the tea leaves or has inside information....and they make a prediction that they really believe in, they can put a link to it in a common thread where they can get subjected to abuse/praise. |
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Have been tangentially following this thread for a while now, because I think the declared goal is interesting at least: to create a history of predictions (and track record of posters).
But in the end, I have to agree with cypherdog and thezerg, the methodology of RS is very much lacking and nothing useful is being created here unfortunately. It's cherry picking quotes, without any attempt to put them into a context (of price at the time, contrasting them with general forum sentiment at the time, etc.)
Yes, it would be good to have a clearing house for "intentional predictions" where they can be tracked. There is lots of informal supposition that can be construed as prediction. The oracles that want accountability should have a place to get that, with a clear methodology. |
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How many pages will go by without anything relating to bitcoin before this thread is nuked?
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Happy it arrived undamaged, thanks for letting us know.
Would also love to see a picture of it in its new home if you get a chance for that.
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Also when I first gave this criticism publicly on your thread you responded by revealing personal communication of me when I consulted you for a private matter and payed you. This angers me and damaged my trust in you. the only part of that communication that i revealed was what i said, nothing you said. plus, it was a response to your attack of me in my sub thread and involved an email that was over a month and a half old. besides, there was nothing in there i haven't already said in my gold threads. It is rarely good practice to expose one's clients in this way. When buying advice, I do not expect those with whom I consult to advertise that fact without permission. |
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I personally think some big money is waiting in the shadows. Imagine if a couple billion moved in right now. Popularity would skyrocket, everyone would go all-in (because the initial billionaire pushed the price up to extreme highs already), pushing the price up even further, earning the billionaire who invested his money a huge ROI? Why wouldn't they do this? Prolly because the market is not liquid enough for this kind of money. Maybe the bitcoin ETF from the winklevii will allow this kind of money to move in.
Who would you even SEND a billion dollars to if you wanted to buy that much bitcoin? Gox? You'd log into your gox account and it would say 1,000,000,000? And you would click "Market order"? Not happening. Not now, probably never on gox. You'd do better to send it to Exante. They are probably the best at getting trades performed in bitcoin with minimal market movement. |
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Maybe not 100%, but a large part of it. After world war II, most of the gold were put into US and US issue dollar based on gold, and all the other countries issue fiat money based on their USD holding (they first exchange for USD with their gold). Although gold standard has been abolished, this traditional still holds at some degree
Take china for example, chinese central bank issue RMB when they receive USD, the amount of RMB backed by USD is more than half of the country's money supply
You are right when you say not 100% at least. US is less than 25%. There is about 6 trillion US$ worth of fiat currencies floating around, Issued by more than 150 central banks, about 1.2 trillion of that is US$. |
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