Nice to see that BTC continues its pattern of being a pump and dump scheme - just like Bill Gates said  But its a lot of fun! But not the future of anything, just trash basicly. and yet here you are. |
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"shared ledger" is only half the picture (the tally), the privately-held keys being the other (ownership) half.
It's a shared ledger that requires a private key to sign valid transactions. But it's a shared ledger nonetheless. To see the private keys as another "half" of Bitcoin muddles the issue. You'd be right if you said the other half is the protocol that governs access to the ledger. you sound muddled, and I don't have time to explain it fully. Best, but well done it is indeed a shared ledger, glad you got that bit figured out. |
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Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold). But if they treat bitcoin like a stock, then it will get dumped too.
Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity. Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash. Five or ten years from now, that might be a different story. It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one. It can thrive in any environment. If Wall Streets starts buying, expect BTC to be in the $10k's It's a shared ledger, so it really is none of those things. You might use it as those things, but then again I can do the same with seashells or rocks. "shared ledger" is only half the picture (the tally), the privately-held keys being the other (ownership) half. |
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Fuck sake... should I buy a little (you know for savings not trading) looks like its a steady rise?
you should probably stay out, bitcoin is not for faint-hearted and pants-wetters. ... all the greedy little bearpig trolltards need to load up their digital gold bags first too. |
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cornering the market is a real danger for something so small as Bitcoin is right now, these 'dumps' are just theatre to shake coins into fewer and fewer hands ... because generally people are basically stupid and influenced emotionally by price expectations (FUD).
That's why the 'satoshi' stash is needed to thwart any future market cornering attempts, before the next wave gets too big and potentially destructive.
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federal reserve Digital Value Transfer Vehicles technologies navigating the interpipes  |
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Oh yeah, about that AUDIT, maybe the federal reserve can post proof of reserves on the blockchain now? In the interests of transparency.
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Ask the Citigroup "digital chief" (w/e the feck that means) how he feels about the period in 2008 when Citi was criminally trading while insolvent?
Does he have nightmares about assets disappearing off electronic databases under his responsibility, assets that may have never existed in the first place? Google Treasury bond fails to deliver and naked shorting in the US t-bill market. Or worthless MBS held in off-balance sheet SPV.
Want to build on top that pile of epic fail? uh-huh.
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Would you want/expect them to use Bitcoin? no, they should just accept the inevitable and make plans to wind down the federal reserve debt note pyramid scheme in as an orderly manner as possible. How can they wind down the pyramid scheme orderly without taking the DOW JONES down to 1913 levels and 90% real unemployment and famine? that's a problem of their own making. Seems like they have a lot to think about without commissioning investigations into free market information technology innovations that they are clearly unqualified and too inexperienced to master or examine and well outside their political remit anyway. But how would Bitcoin help this acceptance of the inevitable depression for the 300,000,000 people not invested in it now? You are presuming that it is somehow the burden for Bitcoin to unwind the Federal Reserve Debt Note pyramid scheme? In the matter of the unwind, the Federal Reserve Act itself has the clause for the people to seek remedy in the case of damages due to elastic money http://www.law.cornell.edu/uscode/text/12/411Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank. It’s important to understand why a remedy had to be written into the Federal Reserve Act. To look at that, we look at the description in the title: [63rd Congress, Sess. 2; Ch. 4-6, P. 251]
“An Act. To provide for the establishment of Federal Reserve banks; to furnish an elastic currency; to afford means of rediscounting commercial [debt] paper…”
The important part for us to focus on is “to furnish an elastic currency”. To understand the authority behind remedy in the United States of America, we should look back to 1789, the Judiciary Act, and read:
“…saving to suitors in all cases the right of a common-law remedy, where the common law is competent to give it.”
This saving to suitors clause of 1789 also allows for the exclusive original cognizance by Congress and by the United States Government of all seizures on land. i.e. “reprisal”
Therefore, Congress was required to write the remedy from elastic currency into Section 16 of the Federal Reserve Act:
“They [Federal Reserve Notes] shall be redeemed in gold on demand at the Treasury Department of the United States, or in gold or lawful money at any Federal Reserve bank.”
However, reading Section 16 carefully, the remedy from central banking reveals that Federal Reserve Notes are for reserve banks. If you have Federal Reserve Notes in your wallet, in other words, you are considered a reserve bank. [Or holder in due course]
To restate remedy, one could quit being a reserve bank by redeeming lawful money with their Federal Reserve Notes. David Merill has some interesting thoughts on nature of unwinding the Federal Reserve Debt Note pyramid scheme ... http://sitsshow.blogspot.co.nz/2013/08/federal-reserve-act-remedy-no-lawful.html Simply put, it is required by the Constitution that Federal Reserve Debt Note usage is voluntary and this is specifically written into the Act, so at some future point the people are able to simply opt out when the system becomes dysfunctional and contrary to their aims; life, liberty and the pursuit of happiness, for example. |
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Would you want/expect them to use Bitcoin? no, they should just accept the inevitable and make plans to wind down the federal reserve debt note pyramid scheme in as an orderly manner as possible. How can they wind down the pyramid scheme orderly without taking the DOW JONES down to 1913 levels and 90% real unemployment and famine? that's a problem of their own making. Seems like they have a lot to think about without commissioning investigations into free market information technology innovations that they are clearly unqualified and too inexperienced to master or examine and well outside their political remit anyway. |
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Would you want/expect them to use Bitcoin? no, they should just accept the inevitable and make plans to wind down the federal reserve debt note pyramid scheme in as an orderly manner as possible. |
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wow ... good catch, no wonder Valve was so anti-bitcoin. Here's one that will blow Varoufakis tiny mind wide open. http://aeon.co/magazine/technology/are-we-ready-for-companies-that-run-themselves/Which vision will win out? That will depend less on the specific capacities of the technology than on the ability of governments and electorates to grasp what it is and what it means. One way or another, it looks like RoboCorp will be able to look out for itself. In the meantime, we need to get our own house in order. sort your shit out, robocorp is coming |
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Dumps are getting weaker, less panicky...
People got a taste of the moon the other day and are prepared to hold tight for a bit.
I think we are seeing the beginning of the next bull market
I see it as a stable point That said depends on the sentiment but I agree with you the bearish despair seems to have chilled out for now Whether it turns to bullish sentiment or remains in neutral is going to be the interesting thing about this market for a while. smells like lots of worry and hand-wringing on both sides ... we're going up. |
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Its pretty big. Can you summarise?
Fed: "Ohshit, we got a lot of catching up to do".  Only part way through it but the gist so far is as little as they'd like to admit it Bitcoin has them panicking and they need urgent planning to bring the industry together and come up with a competitor, this was partly set in motion in 2012 with the intention of completion within 10 years but they're pulling out the stops. It's kind of funny as they're trying to copy the community and some of their findings may have been researched actively here. It also looks like they may be setting up their own public discussion forum too, the trolling there will be epic, payback's a bitch They seem to be trying to copy open source development to a degree... but by committee with competing companies that have been trying to get the market to themselves for years. Bring popcorn, 10 years sounds optimistic fiatcoin goes open source ... should be a real entertaining clusterf#$k, banksters, snakey lawyers, bureaucrats, craven leftie economists, politicians wheeling, dealing and sticking their knives in each other ... while a few mousey quiet techies flick paperwads at the ceiling and rolling their eyeballs at each other in endless meetings. edit: wait did i just describe the federal reserve by accident? |
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think its safe to sleep in btc? :/
yep, has been since 2010. Might depend what day you wake up sometimes though. |
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For everyone who bought bitcoins in the past 14 months, I'm sorry for your loss.
they have been part of the story, and now they have the experience. Life is a zero sum game where your spirit leaves this mortal coil and your body dissolves back to molecular dust. |
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You likely noticed significant improvement of performce while myTREZOR retrieves balances.
The reason is an upgrade of the back end. Have fun.
The speed wasn't the biggest problem, the fact that it almost never worked when needed however was. Either you must be very unlucky or I very lucky because I use my trezor several times a day since release and mytrezor.com has only failed me twice in all that time. Which was pretty annoying ill grant but quite a bit less of a problem than what you described. You can count me to the lucky ones as well, because my trezor worked out of the box without a flaw... Pretty sure that it is platform dependent, luck is not a factor. Most likely the JS execution of your browser is the major determinant. |
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