... In partial defense of Nixon in 1971 (?!), if he had NOT stopped France et al from taking our gold at that price ($42.22 / oz IIRC), then ALL of our gold would be GONE!I'm a FOFOA fan (but not FOFOA, duh..., smile,,,). He came up with an idea that if the Treasury just put out the call that they would buy any and all gold for an arbitrarily high price (say $10,000 / oz) that would instantly set a worldwide floor of that price, and pretty soon gold would rise even higher. Bang!FOFOA is the guy who made the "$55,000 / oz" idea famous in the Au Community. He writes dense stuff, but if you follow gold, this is excellent reading, highly recommended: fofoa.blogspot.com |
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Yeah, like I'm a tax lawyer or something...
I have others prepare our taxes, it is too complicate for me to do.
Here is what I am going to do about BTC:
When I spend BTC on something (like when I bought the the only thing I have using BTC: the 0.25 oz Gold Eagle), I will THEN use the value of my BTC spent vs. the average price I paid until then for them as my cost basis. Alas, I lost a little bit as the value of my BTC went down a bit after buying them before I bought the gold. So, I will take THAT as a Cap Gains loss, fishez!
I have also been donating BTC here and there as I have seen fit. On another thread here at bitcointalk, "bitcoin" (aka "El Capo") won a contest (0.05 BTC, congratulations!) I offered up (WHAT was so unusual about a QR Code I took a picture of in Peru).
If you Google "dochenrollingbearing, blog", it will come up as Numero Uno, the last picture is the QR Code for anyone interested. The winner commented at my blog, which was in the rulez, fishez. Other pictures from Peru are there, as well as Peru mining (Au and Cu, not BTC, although I have an idea I am working on..., smile,,, a BIG IDEA!).
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Newb OROBTC started an encryption thread soon after joining, which quickly got way ahead of me (went over my head, beyond my scope). Someone sent me this little link showing that even a well designed quantum computer surrounding a star and operating at 100% efficiency could not crack it. I will post the link and try to post the picture: https://i.imgur.com/CzyO1yv.jpgPicture (forgive any weird sizing, remember, newb here):  If neither of the above work, try this "link": http:// i [dot] imgur [dot] com / CzyO1yv [dot] jpg <--- No spaces, "[dot]" = "." *** I do not pretend to say that the image says that BTC is not crackable. But, if whoever did this has his math right, this should be a confidence builder. |
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@ bitcoin
And it`s off! 0.05 BTC from 1PhanJ.......Qx.
Please advise upon receipt!
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Yep, he sure did! And what I really like is that no one at ZH solved it, ha ha ha!
This search, with the comma would have been better: "dochenrollingbearing, blog"
I`ll get you the BTC ASAP bro! As soon as I am on a computer with a wallet or otherwise can tap into my blockchain wallet.
***
Thank you for not naming yourself "El Chapo", or the Feds would soon be crawling all over me at Immigration in a few hours...
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... *** Moderators, move this as you see fit.  *** We leave to come back to the USA late tonight. I had written some mining-oriented articles while here. My new article is not about mining or bearings. It is mostly other photos about my two weeks + here in Lima. But, there is a BTC contest! It amazed me that NONE of the smart people at Zero Hedge and a couple other places I go can figure this one out. The last picture at the blow link is that of a QR Code. To win 0.05 BTC, please tell me: What is so unusual (VERY rare) about this QR code?/9hlvzdx]http://[Suspicious link removed]/9hlvzdxIf the above link is declined to be published ("suspicious link"), you can search (Google) "dochenrollingbearing, blog". Or gmail me at dochenrollingbearing /at/ gmail daht com. Answer MUST be by Comment at my blog (incude BTC wallet info either w/ response, or later). It`s been over TWO HOURS, and NO ONE at Zero Hedge has gotten this...LOL! |
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... I suppose the highest tech mints could find a way to "seed" their gold coins, perhaps by year, perhaps even by each coin, with slightly varying small amounts of rare elements of lower cost (say Os, Re and even a little W) to establish a custody chain of one sort or another. I do not easily see any way to accurately test for "conflict gold", as I imagine that most refiners mix in gold from different places for the bars that they resell. At the kilo-bar level (9999 fine), this would be near impossible. At the +/- 400 oz LBMA bar level, our overlords could care less about where the Au comes from... *** I also read (somewhere, maybe at Zero Hedge) that the mints could put a chip in each (RFID)... Then crack down hard on the Cash-4-Gold places re "Know Your Customer" laws, etc...  Better get started stacking early! |
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@ AnonyMint, reply 157
I should have been more precise: if I have gold tucked away, someone will get hurt trying to take it.
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I quite agree with your description of .gov power to tax and take. No doubt that if our overlords start cracking down hard it would be better to run lower under the radar (than I am now, lol).
-- Run any excess BTC through a good mixer
-- Spend some of it on items of real worth, say overseas
-- GIVE away wallets w/ Bitcoin, like to your cousin in Slovakia...
***
"There are more of us than there are of them."
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... My paltry holdings of BTC I bought for cash from people I donīt even know (via US Mail and in person via localbitcoins.com) before this Mt Gox imbroglio. Some was already spent on that 0.25 oz Gold Eagle I bought. If I decide to spend the rest (or even part) on gold and keep the rest, then: Molon Labe!Disclosure: armed to the teeth |
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Mining gold and mining really almost anything uses large amounts of energy and destroys (at least some) nature too. Yet, we wish to lead modern lives. No mining = crappy lives...
Energy costs of mining BTC appear to be a minor issue to me.
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As we saw in the cases of Rome and Britain, it can take a long time for an empire to disintegrate. That means that it is perfectly possible to have a good life and enjoy things even if things are heading into the crapper.
And, really, it is up to each of us to look after ourselves and our loved ones.
(My vote was 5 + years)
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I am late to this thread, but I do not have any problem with early adopters getting rich! They took the chances, hey, why should they NOT reap some rewards?
As long as I get rich too, bully for them!
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I like GigaCoinīs idea of diversification, and I practice that in all of my asset holdings. Physical gold is very important to me as a Store of Wealth, I am not worried about having to "spend it", my preference will be to give it away... Platinum ("value dense"!) is worth a look as well. And, of course I own a little (2.2 or so BTC) and have some CA$H FIAT$ lying around the house "just in case."
***
Lyth0s brought up a point or two I would like to consider. All things considered, gold bullion coins are hard to counterfeit. Lead weighs much less than Au, and does not "hold a strike". And, if you buy fractional Gold Eagles, for example (in 1/10 oz or 1/4 oz sizes), it is VERY hard to fake them with tungsten (whose density is within 1% of goldīs). Tungsten is hard to work with, it is very hard and has a high melting point.
Also, a scale and calipers (total cost of both, cheapie units OK) would run, say $35 tops. Once you are familiar with your gold coins, you will feel more secure that each is real.
And if/when you get really RICH, then there are ultrasound thickness gauges ($500 and up) that would deal with the tungsten problem, say in kilo bars, sound travels much faster through tungsten than gold.
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BTC is awesome now.
But, when I can buy stuff like gold in most foreign countries with it, then it becomes that much awesomer!
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OK, 58 yr old "OROBTC" just took the survey. Good luck!
Yes, please do have her dissertation available online somewhere, I would guess lots of folks would be interested.
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Once again newb OROBTC asks a question of interest, at least to me!
Has there been any pattern in BTC prices reacting to hawkish or doveish statements after the Fed has spoken?
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Today, it looks like BTC price has hardly moved, even though stocks and gold are down hard.
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Two things:
1) It looks like an EXCELLENT way to move money out of a country
2) The speculative potential is most interesting (although I am down some $600, /LOL)
And I did buy a gold coin once with some BTC, not the best price, but there ARE legitimate gold coin sellers out there who deliver gold for BTC.
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I agree with Sydorfunk.
Quiet diversification is about the best that we can do as individuals to save ourselves and our families. Smart BTC and gold accumulation as income permits increases ALL of our security.
FOFOA sez re gold that the more small holders of gold there are, the better.
OROBTC sez something similar re BTC!
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I did not see this question addressed:
Will the ATMs buy & sell BTC anonymously?
For me that is the important question.
If so, then Dubai is about to become a very popular place to visit!
Nice gold market too.
***
No deals for 18 kt gold down here in Peru (on a visit), a (net) premium of about 35% over spot for simple gold jewelry, which is, of course, better than the USA, but I was hoping for a better deal.
Gold Eagles, then, when I get back!
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