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melwinder

I have made some mistakes here in Bitcoinistan™ myself.  Try not to let mistakes trouble you too much.

Besides, your mistake did not (it appears) involve a permanent loss (like two of mine).  My two came by carelessness and impatience, a deadly combination when dealing with BTC.

Mistakes, even if painful, teach...  They are going to happen.

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While I am pleased to be a participant in the whole Bitcoin experiment (and have a decent chunk), I would be very hesitant to dismiss gold, which has a 5000 year + history as the world's premier store of value.

Bitcoin's future history is quite unproven.  Gold will do just fine for many years to come.

Buy and hold both!

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I should have bought moar gold back when BTC was in the $500 - $700 range, but that is all water under the bridge.  Lately I have bought gold (for BTC) from two different places in the past few weeks:

Provident Metals: bought gold twice, both orders arrived within a week.

AmagiMetals: bought gold once, order took some 10 days to arrive.

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Mmm, it seems to me like we are still too early in BTC's life that it would do much to provide liquidity in our huge economy.  It is still hard to use (for almost everyone not members of bitcointalk).  And BTC's total market cap is pretty tiny vs. US GDP.

My guess is that in the end (when I do not know) they will just print the money.  My banker said that.

Ctrl-P
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Mmm!!

And I thought that maybe I had timed my last purchase of gold for BTC badly when BTC was in the $300s.

Of course, I should have considered buying gold when BTC was in the $600 and $700s...

*  *  *

Looks like the Big Wave that hit was for sub-$250.  We will see in the coming weeks and months. 

I agree with some above comments that essentially NO ONE can predict BTC price well.  With charts or without.  Your guess is as good as mine.  Or the other way around maybe...

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QuestionAuthority

Four out of five is not bad !!

The only reason I did not rate it at five is because the installation procedure was not crystal clear and kind of anxiety-provoking (like many installations are for beginner moi).

Ledger is a good solution.  I like mine.  And it's a great value.

odolvlobo

I have now done some nine or so transactions.  After using it a few times, the device automatically generated another two receiving wallets (about four transactions on the first wallet, then it gave me another wallet, later a third), I do not have the pattern figured out yet.  Nor have I tried sending out a large BTC transaction to see which wallet(s) would be used.

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princesocapuyo

Probably the most well known use of hardware wallets like the Ledger and the Trezor are for secure longer-term storage of BTC.

ticoti

A Trezor is on its way to me from the Czech Republic!

NewJerseyJess

The only issue I had was that setting it up was slightly anxiety-provoking (a little harder than I expected, but not bad).

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And here is my little quick-n-dirty review:

-- I paid for it by BTC, it arrived here (USA) in less than a week (from France).  Approximately 57 Euro (inc. shipping) (~$69)

-- All pieces arrived fine.

-- Installation of new things always seems "high risk" to this beginner, it was kind of slow, but went OK.

-- I have both received and sent BTC successfully with it.

*  *  *

I wanted a suitable hardware secure solution for storage and only occasional use of BTC.  The Ledger delivers, and I like it.

Rating: **** (four of five)

Good value!


EDIT:

Corrected to 57 Euro!

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urback

You have a message on a different topic.

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Hope so re the big wave.

I bought some at +/- $600.

Some at +/- $500

Some at +/- $400

Some at +/- $350

And just the other day, $270.

I guess we will just have to wait and see.  I have NO IDEA what near-term future prices will be like.

I value BTC because it is portable and apparently very resilient if you are careful.  Volatile, yes.  But I can live with that.  No choice!

 

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Gold (and on occasion platinum) payable in Bitcoin is available from at least four companies.

Once you can get gold in (many) other countries with BTC, now you're talking!  Adios capital controls, at least until "they" figure out how to shut THAT down.

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Antal Fekete is an interesting guy with interesting views on gold.  Roger that on gold having a huge stock:flow, biggest of them all.

Should we wind up in a hard gold backwardation (oversimplifying: negative GOFO), we would then soon see if his major theory on the Gold Basis is correct.  Should the arbitrageurs decline to get a "decent guaranteed rate-of-return" by loaning off their phyzz for a promise of getting it back in two months, well............

No way my phyzz goes out for some nickels in front of the steamroller.

*  *  *

But, perhaps the most apropos direction of conversation re "Economic Devastation" might be:

--  the huge moves in the US$ (the Index is at approx. 91.5, last I looked)
--  crude oil (approx. $48 / bl)
--  not to mention stocks down hard all three days so far in 2015

These hint of deflation.  Deflations often come before BIG inflations.

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iamback

Fair enough if you do not wish to further discuss my views.

Best of luck to you brother.

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Some random, but perhaps pertinent, thoughts:

One) Some 80,000,000 Americans own guns, total est. gun population: approx. 300,000,000.  I myself bought 300 rounds more of 9 mm ammo yesterday.  Molon Labe.  I agree with above comment about the military NOT firing on the people (yes, many of the "Three Letters" might, but there are more of us than there are of them).

Two) I have not been to India nor Pakistan, but everything credible I read is that their young geniuses (the "Knowledge Age" vanguard to vanquish America I presume) in the ghettos are "not ready for prime time" in the sense of being able to make any more than marginal changes to the world.  I have been to China, Brazil and South Africa, their young geniuses will not make much difference either.

Three) People want to move to the USA.  Yes, sure, some Indians and Chinese go back.  Why not?  Seek their fortune "back home" once they have earned their grubstake here.  That's called freedom!  A big reason many stay here.

Four) Peru is not the only place with physical and cultural constraints to an imminent "Knowledge Age".  Peru has the ANDES making transport much more difficult.  Poverty-stricken Africa (no capital...) has jungles (for those of you who have never spent "quality time" in the jungle, trust me, it's a nasty place) & rivers & deserts...  Places like India & Pakistan treat their women like second-class citizens.  China *may* be lifting its One Child policy.  South Africa (number five of the BRICS), ah, who invests there?  RUSSIA is always on the verge of banning Bitcoin, sound like a winner to any of you?  China has recently banned GOOGLE services, ah, is that what #Winners do?

Five) Brazil (Petrobras), Russia (every business and .gov activity), India (same), China (same), South Africa (same) ALL have corruption much greater than our own.  The Knowledge Age will be held back in countries run by corrupt crony mafias...  BAD as things are in the USA (hence "Economic Devastation" IS a real threat), I would contend that things are worse THERE.  

Six) I do respect Dr. Jim Willie, he has great insights and apparently great contacts (I claim neither).  But, I believe that JW is WRONG about the "BRICS Bank" (a piddly-little clone of the Bretton Woods Agreement (IMF and World Bank).  Since the end of their BRICS Summit in Fortaleza, have ANY of you heard anything about the BRICS Bank?  Unlikely.  China itself would be over 50% of it anyway, LOL...  Has that $100 billion gone into it yet?  $100 bn is chump-change anyway...  Here is my take from July 2014, I was not satisfied with what I was reading, so I went and dug up the info (with some help) myself: http://goo.gl/y9WpM4

Seven) Dr. Willie mentions "Gold Trade Notes" a lot (in support of his thesis that the USA is KAPUT).  Last time I "googled" Gold Trade Notes (supposedly to take over international commerce from Letters of Credit), ALL references came back to him, I saw NO references of that term from anyone but him or quoting him.

Eight) Inspired by contagion, I went and looked at the latest several articles of Martin Armstrong, whom I had run into before he was sprung from prison.  I am withholding judgement on his general thesis (theses) as they are not easy to digest in a couple of sittings (like FOFOA is not easy).  I noticed nothing obvious from Armstrong about the "Knowledge Age", but perhaps contagion is arguing Knowledge Age from other bloggers (I just do not recall).

Nine) America is splintered, we no longer have the "Melting Pot" style of thinking.  We are very diverse.  Yet China, Russia and India are very splintered as well, into MANY languages and ethnic groups.  Brazil is by no means one race either...  Pakistan, ahh...  Indonesia, ahh...  I believe that all of our significant rivals are as splintered, perhaps more so (with more hatred, hard to say) than we are.

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Bottom Line:

Yes, if we can keep everything from blowing up, a "Knowledge Age" is likely (perhaps a Kurtzweil-ian "Singularity"?).  But, it ain't happening soon.  There are not only the physical & cultural factors retarding such an Age I mentioned above, but there is tremendous .gov and other Elite resistance...

Keep diversified, and keep your gold (and BTC).

Does that mean I am saying, "Don't learn programming or the nuts & bolts of Bitcoin or other technology"?  Not at all.  Those are skills of the future (probably), and will likely lead to a good living.

But, will the Age of Knowledge fix those potholes in Cleveland and Calcutta in the foreseeable future?  

Nope.

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Thanks for the nice explanation!

Now I know who to ask re other technical questions...

_j/k   

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I do not have any kind of formal (or even informal) training in Bitcoin, but I have used it in various ways.  I have an observation on which I would appreciate comments.  I have seen three "kinds" of wallet IDs:

-- 1(next: Capital Letter) followed by 32 alphanumerics (34 total)   <-- Lots & Lots of them!
-- 1(next: a single digit number) followed by 32 alphanumerics (34 total)   <-- Lots & Lots of these too!
-- 1(next: small letter) followed by 31 alphanumerics (33 total)  <-- Very few

The third case above has worked OK for several transactions.

Why are some wallet ID numbers one "alphanumeric "short"?

Why are there so few wallet IDs that have a small letter (vs. a CAPITAL) as the second alphanumeric?

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At the request of contagion, I post below some (slightly edited for clarity and privacy) remarks that I "messaged" him earlier:


Perhaps you and I just disagree on the timing.  A Knowledge Age will do little for most people I see and know.  Here in the USA, ahh, maybe 1% - 2% of our people are capable of thriving now as you did with your $30,000 / month income from programming.  Just off-hand, I can think of but TWO friends or acquaintances that have made BIG $$$ by using their brains (one a PhD in Geology, he's an "oil finder", maybe not so great right now though...; the other a PhD in Electrical Engineering, he designs high-speed chips).  The others I know who are wealthy, or near-wealthy, got there via luck (born into it) and/or similar.

In Peru, who cares about knowledge (not many)?  Peru kinda sorta counts as about a "middle income country" as they come, with an emphasis on metals exports (and so at great risk if you are completely right).  My xxxx (early 20s) in Lima owns a small rent-a-computer-by-the-hour store across the street from one of Peru's best universities.  What are all of those students doing on the computer for 35 cents / hour?  Yep, playing games.  And my xxxx is NOT "Knowledge Age" ready, LOL (or would that be /LOL?).

So, the USA and Peru do not have high percentages of direct beneficiaries of a Knowledge Age.

Howzabout the BRICs?  China and Russia I believe are far too burdened with oppressive dictatorships (with people who readily accept their rulers) to be ready for Knowledge anytime soon.  India and Brazil?  Ah, no.  Perhaps a very small segment might be Knowledge Age ready in the coming years, but I would predict just a tiny few, the very bright and very motivated.  1%?  [EDIT: I have known some very bright students and professors from India and Bangladesh here in the USA]

Japan and South Korea are two players who might produce real value (real knowledge) as education is very highly valued in both countries, I have been to both of 'em.  S. Korea really impressed me, their ball bearing plants are straight out of "Star Trek".

Europe (ex-Russia) has many bright people, and they are roughly as free and educated as Americans.  So maybe 1% - 3% are Knowledge-ready there (?).

Sum it up: MAYBE 1% worldwide are in a position for the foreseeable future to bring on the Knowledge Age and benefit the most.  THAT is why I do not see it happening quickly, even recognizing "Waterfall Effects", a concept with which I am familiar.

*  *  *

A question for you that I have not had adequately answered anywhere by anyone yet:

Could a Samsung or a Toshiba step in to make BTC/ASIC chips and blow away all these little BTC miner equipment guys who seem to be ripping off (or front-running) their customers?

(Maybe I should ask my friend the chip designer...)     [EDIT: or start a thread here at bitcointalk...]  [EDIT: Anyone please offer up your opinion re a Toshiba or Samsung getting into BTC chips]

*  *  *

Finally, the quotation of casting one's gold & silver into the streets is, like MUCH of the Bible (inc. & esp. the New Testament) is meant in a metaphorical sense.  I refer you to the writings of Emmet Fox who looks at the Bible in a whole 'nother way, and he wrote his seminal The Sermon on the Mount in the 1930s..., highly recommended.  Jesus's teachings (his words, not later theology) are of a special coded technical nature, if interested, read Emmet Fox.  It's all about state of consciousness...

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contagion has a message.  Continuing the conversation.

I would be most interested in the answer to my question near the end about a Toshiba or Samsung entering the BTC/ASIC chip segment.

Also, please see my comment re the Bible reference you made.


Cheers! 

That goes for all the rest of you too!

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contagion

It looks like I still have plenty of reading to do.  Thank you!



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However, I do not think that even the Mighty Martin Armstrong can predict the future in the detail that he does (eg 2015.75).  I read much of his "prison work" (which was remarkable, probably better than the few-ish pieces I have carefully read since he got out).

Yes, you are correct about the amazing speed of the fall of the Berlin Wall and Soviet Communism.  I am an "ex-Cold Warrior" (from behind a desk), and NOBODY I knew predicted what would happen, not even close.

But, Armstrong's chart of Athens' fall is over some 50 years, and the Roman denarius lost its silver over a period of (hard to say from the graph) years.  OK, certainly things have sped up...

NOT trying to pick any fights (I just dropped out of Zero Hedge's Fight Club), and I think the various dialogues in this thread are of a very high caliber (pun intended).

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Predicting the future is very hard, especially because it has not happened yet (thanks Yogi Berra).  Trends often get "Black Swanned" (thanks Nassim Taleb).

The physical economic realm is by no means dead -- being smart in Peru offers relatively few advantages.  Learning more and working smarter (here -- USA) is a great investment, but I would not bet serious money on any single imaginable scenario myself.  NOBODY knows what will happen.  The Banksters or .gov (ours or other .govs) could throw all kinds of monkey-wrenches that could change outcomes.  IMO, nothing is determined.  And that is why I diversify...


A Disclosure: I am now at the age where I want to preserve capital above all else, that in great part is the lens through which I view things.

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@ contagion

I have not read enough of your comments to readily reply in a proper manner, but the "real economy" (production and transportation) is still extremely important not only in the USA but in the rest of the world (very much so in Peru, "my other beat").  WATER transportation (our internal river networks and how CHEAP such transport of bulk materials are) was and is a tremendous "capital investment" that we never even had to make!  And so we did not have to use up scarce capital like Germany (for example) did when they built their railroads in the late 1800s as their rough-equivalent of our riverine transport systems.  

The Stratfor guys have written columns and books (especially The Revenge of Geography (Robert Kaplan, 2014)) on this topic of capital and the "Real World" of MOVING stuff.

I closely watch economic developments, including and especially topics like "Economic Devastation".  Although I think the trend of your observations (Knowledge Economy, etc.) is correct, these evolutions typically take longer than we think.  

Michael Pettis is apparently a highly respected observer of China and their economy.  I wish I had more time to read him, as I think he has China pretty well figured out (and it ain't pretty in China).

I have not read Piketty's book (um, who has?), but presuming he is like 99% of all other Socialists, he is likely to be almost completely WRONG in his prescriptions.  Exhibit One: France.  And he thinks France is not Socialist enough... 

@ CoinCube

The "My Messages" tab above is so small that it is hard to notice, but you have a message.