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Money is meant to be spent, obviously. But you should have freedom about when you spend it.
Saving is not something bad in itself, you should be free to choose when to earn/save/spend
Devaluation means that you loose some part of you earnings before spending it. Taxation basically, which isn't bad either.
The real problem to me with devaluation is that it's a kind of stealth taxation, and also because one can evade easily.
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So yes, file sharing follows the same way cultures work, humans work, life itself works. I am not sure how serious they were, but sums it up pretty well: http://youtu.be/NGZ-hTBmUyg?hd=1Amazing documentary. Thanks for sharing  |
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For sure inflation is worse in Venezuela or Argentina than is US. So i guess it makes sense to save in dollar to protect from it. But USD is also being devalued, so...
What about precious metals ? It sure seems a better idea compared to USD
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Is there any gov source saying that ? Because suppose you're the opposition in Venezuela, that's a nice rumor to start if you want a better score  Not saying they won't do it, especially since they did it before. Just saying that it's the kind of propaganda both sides will use before elections. to minero1 : - how does investing in precious metals work in Venezuela ? caps, taxation ? - was trying to understand the black market value of bolivars. Basically there are people willing to give away bolivars to get usd. Question is why ? Is there some products available only in USD ? or is it mainly for savings ? (abroad ?) |
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Sent you 5BTC. Keep up the good work |
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Where will the business be operated ? Singapore ?
Will this registration as financial service provider resolve liquidity issues ?
I never tried bitcoinica because of liquidity issues, which is obviously a huge limitation. Without that, i would have for sure some money in it.
To me that's also actually good news. I'm ok giving personal info to have a quality, reliable service. I already do for broker accounts.
If some are not ok with that, i'm sure someone else will set up something for them.
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I don't get it....
If mtgox was being ddosed, it wouldn't work for anyone
If it was a dns problem, then this ip (if it's the good one), should work...
Can someone correct me if i'm wrong ?
WTF is happening ??
PS : from france, both are not responding... but i can ping mtgox.com
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Can someone outside europe (for whom mtgox is still working) say me if this works  https://72.52.5.67 |
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Down in france too
Can someone confirm the ip address is this one : 72.52.5.67 ??
EDIT : BACK
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I would stress the main advantages of bitcoin compared to gold : Easy and cheap to transfer. The sound money of the new era, where information only takes milliseconds to transfer from any point of the globe.
Just that easy pitch will make him interested, and i'm totally sure he'll understand very fast all the implication of bitcoin.
Not sure he'll understand the open source side, or any technical information, so don't go to far on that. Just saying that the system is still working besides a big incitative to attack it, and that professionals are confident it'll keep working.
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I'm 28, and i would be happy if my parents offered me gold/silver (unfortunately they believe it's all a bubble, because that's what main stream medias told them)
Younger, i wouldn't have understand, and probably sold it to party. You need a saving mindset, and basic understanding of economy to understand that it's a really nice gift.
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Perhaps you already answered that, but what do you plan on doing with the NMC ? Sell it at some point (when ?) or sending them to shareholders if/when it will become possible with GLBSE ? In any case, thanks for your work |
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US players are not able to play online anymore, so obv it looks like a good idea for a network to go shady and start accepting US customers by using bitcoin.
But the law is in the making, so there's also an incentive to follow the law and wait for the regulation of online market.
I don't know about the US, but for example switchpoker (which accept btc) prevented me to register, because i'm french (and you need licence in order to propose a legal offer).
I don't see any big player in the poker industry taking the risk to go rogue right when the whole world is regulating these markets.
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so guys, just give me a few hours to see if my theory proves correct. if it doesn't work by all means buy the parabola. personally i'm going to give it a few days from today to let it work but you can all call me a tinfoiler if gold doesn't start going down after the announcement. A quote from your first post. It was now more than a month ago, gold closed at 1739$. For now, you have to admit you've been wrong. Even if days like this one give you confidence, it's a small sample. We'll see which hypothesis (manipulation vs bubble) will be proved true, there's still a long way to go. 1 month is nothing. fine. i admit i was off on the exact timing. and i might be off on the whole concept. i've always been open about that. calling an end to an 11 yr bull mkt is outright difficult. i thought it would be an interesting intellectual exercise if not a downright shorting opportunity. it certainly has been the former thanks to miscreanity (but no thanks to you) and it may be the latter. you, otoh, will have to give me credit if i end up being right on the price level for a major reversal. i made the call at $1780. pretty damn close. so far, yes, i am confident with what i see. time will tell. Yep, we'll see. Whatever happens, it's interesting times. And i thank you the intellectual exercise, i've learned from your opinion, even if i still don't share it. |
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so guys, just give me a few hours to see if my theory proves correct. if it doesn't work by all means buy the parabola. personally i'm going to give it a few days from today to let it work but you can all call me a tinfoiler if gold doesn't start going down after the announcement. A quote from your first post. It was now more than a month ago, gold closed at 1739$. For now, you have to admit you've been wrong. Even if days like this one give you confidence, it's a small sample. We'll see which hypothesis (manipulation vs bubble) will be proved true, there's still a long way to go. 1 month is nothing. |
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If the fall last week is really because of Krugman article, then i'm felling better. I was afraid something important happened. Paul Krugman is a perfect example of someone who is either a) Intellectually limited, not able to think outside of the box b) Intellectually dishonest If you want a good laugh, just read his July 11 explanation for rising gold price : http://krugman.blogs.nytimes.com/2011/07/19/the-glenn-beck-debeers-connection/. I think that's a good example about how he thinks. If people are stupid enough to sell the btc if he says so, then thanks, i'll buy that dip. |
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Lastly, both silver and gold have moved into significant backwardation this morning. This is an extremely significant development and, if it continues, is indicative of very tight, short-term supplies. A few loyal Turdites questioned the significance of the "Venezuelan Decision" when I posted the news Wednesday evening. Let me set this straight. It is extremely significant. Why? 1) The Venezuelan gold is on deposit at the Bank of England. 2) The Bank of England supplies the gold for the GLD. 3) I believe the GLD to be an empty, fraudulent shell game of fractional bullion banking. 4) It has been speculated that there might be only 1 ounce of gold for every 100 ounces of paper gold. 5) The withdrawal of 8% of GLD's gold from the BoE would cause a massive supply squeeze. 6) This massive supply squeeze would reveal itself by backwardation in the gold market. 7) See the paragraph above.  IF I'm right and GLD is exposed as the scam I believe it to be....well, let's just say that gold is going a little bit higher from here. 9) Money flows out of GLD and back into the rightful place...the miners. This is the last post from Turd Ferguson What do you guys think about that ? Could it be the reason of the panic ? |
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