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Yep. bitcoin was only good for buying drugs before I got into it ... after that it was only a gimmick.
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Or, he thinks long-term.
The more long-term you predict bitcoin, the more you gamble. There are so many real factors that rise probability, that in the coming years, bitcoin will die. Only thing special about bitcoin is that it was the first popular outlet of an very good idea. It's like believing in the 80s that Apple will always dominate the personal computer market, because it was the first to succeed with Macintosh. You can't hold onto this idea alone. Other can better that idea or just market that idea better with their products. Bitcoin value is only held up by speculation
- Definitely not true. Bitcoin adds a great deal of economic value.
Sadly it is. Bitcoin has very little economic value, the idea has a lot of potential for value, but bitcoin itself is an economic gimmick. Mainly because of the overly simplified proof-of-work system to introduce new coins. Because of that, bitcoin will never be a stand-alone currency and it needs fiat to give it value. Right now, with adopting bitcoin payments at your shop has no value in financial efficiency. You will only gain the trouble in converting your money. Only reason why some companies decide to accept bitcoin payment, is for marketing reasons. Starting to accept bitcoin will get you lot's of free press and it will also get you some new loyar customers among those who are loyal to bitcoin. It will make your financial dealings less efficent, not more. If you want to store value, then buy resources like rare-earth metals, that are in constant demand together with technological advancements and their supply is constantly getting tighter.
-"Rare-earth" is a bit of a misnomer. They aren't actually all that rare. And the supply-demand equation fluctuates a great deal. I would definitely consider bitcoin to be a much safer investment than rare-earth commodities, which are not so easy to physically hold, by the way. There may be some rare-earth supply-chain enterprises which are fairly safe investments, but they are unlikely to qualify as stores of value, or to provide such speculative upside as bitcoin.
With Rare-earth metals, it's not hard to find geographical places from where to extract the ore, but it will be difficult to find places that let mining and processing with this environmental impact to happen on their soil. And also to consider the growing demand, I think that picking the right element is the best store of value investment that one can currently do. Bitcoin is not rare, it's only decided by a group of people that it is rare. And you are also trusting a group of unknown people that it will stay rare.
- A very large group of mostly known people whose interests are fairly predictably aligned with my own.
There are about 12,37mil bitcoins in circulation. Can you tell me the names of the known people who own 6mil bitcoins together? or even 2mil? or 1mil? Last time I remember that some big bitcoin holder came into public with his coins was when Winklevosses declared that they have about 1% of total bitcoin circulation. Can you please give me other names that have declared how big their stake is in bitcoin, so I can see on who are these people who I am supposed to trust then? Cool, another obnoxious, arrogant know-it-all has found the Wall observer thread ... fresh meat on the grill. |
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Gold:BTC=2:1 is just about right for a reversal.
This gold push times nicely with JP Morgan's public dismissal of Bitcoin. The tinfoil hat theory is they are letting the gold price go up after the big scare of gold/XBT parity. It is not as 'tinfoil hatted' as you disparagingly put it .... the one thing the banksters still do have as a foil to crypto is gold, silver is gone though. Even though it is their whipping boy now and shines a harmful light of truth on their wicked fiat games the bankers still keep gold close, albeit in a cage of their choosing. Crypto could create the seemingly paradoxical situation where the current fiat-meisters become gold pumpers as they grasp for their last chance at relevancy. That is some time away though. We could see transferable digital gold products backed by western banks, even central banks, competing with crypto in the digital money space. The very same products they have prosecuted e-gold for producing and regulated out of existence, Gold Money and others they may well come to pump as their saviours. |
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I have read some literature on this, let me see if I can find it.
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Huge red flag.
Capital controls are coming to all Western nations before too long.
This move by Italy is designed to prop up their busted banks which were about to fail spectacularly. Notice that the 20% 'withholding' accumulates at the account of the banks and is only forwarded to Revenue annually.
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btc is simply a big epic bubble.
All money is a bubble. |
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You are missing the entire point, No I fear it is you who miss the entire point ... the entire point of living in a liberal democracy is that you can do whatever you damn well want WITHOUT running to the authorities to ask for their permission every time you need to take a piss. The point is you are living in fear of reprisals if the State does not like what you are doing, even if it is entirely legal, because the jackboot of their legal force will ruin your life. So you need to crawl to the cops to ask for permission, "please sir don't hit us too hard if we do something you don't like". You are not living in a free country. There is your problem right there. That IS the entire point. That's why BitCoin you clowns. You've been given a gift, don't squander it now by sucking up to your oppressors. |
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Some kind of decomposition using orthogonal cyclic functions ... Chebyshev polynomials? Bessel functions, Legendre Polynomials ... how would anyone know, it could be your own special brew.? NB: Just a ridiculous question ask given the evidence posted. Ill-posed problem.  |
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There is a single point of failure - the cluster that hosts the site.
I'd like to explorer a BitTorrent-style model to remove this dependency, although we'd need to pre-seed clients with a list of supernodes, right? Could you somehow leverage it to go on top of twister? It would would give you the BitTorrent-style platform. http://twister.net.co/ |
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At the risk of offending the anarchists, this regulation is a major step forward for bitcoin. It will provide a LEGAL framework and guideline for business in NY to accept bitcoin without fear of prosecution, it is significant progress to popularize the acceptance of bitcoin. And even more important, it will provide a blueprint for other states to follow once they see how NY - the financial capital, has regulated bitcoin.
As much as you all like to tell the government to fuck off, the reality is we (well most of us) still live within a complex world governed by law and regulations. Large business in this country will not widely accept bitcoins until the government tells them it is okie.
So i view this as progress and a major step forward for bitcoin.
This is where you are entirely wrong and have fallen into the illusion propagated by regulators that they make laws. They are glorified policeman, they interpret and enforce the laws, with increasing arbitrariness and capriciousness. Lawsky is a cop. Legislature and the courts make the laws, not the cops. The "legal framework" you seek has to come from the people and their representatives in power and justice system, not from the foot soldiers of the powerful and the banksters who have infiltrated every level of the cop bureaucracy. Jamie Dimon was crystal clear, he wants bitcoin regulated into irrelevancy. I don't know which one of you missed that comment and still 'welcomes' bitcoin regulation. The craven politicians and judges have to step up and be brave ... are they really prepared to license bits? Are they really going to sanction the financial totalitarianism desired by their paymasters? |
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Today, banks like Morgan Stanley, JPMorgan Chase and Goldman Sachs own oil tankers, run airports and control huge quantities of coal, natural gas, heating oil, electric power and precious metals. They likewise can now be found exerting direct control over the supply of a whole galaxy of raw materials crucial to world industry and to society in general, including everything from food products to metals like zinc, copper, tin, nickel and, most infamously thanks to a recent high-profile scandal, aluminum. http://m.rollingstone.com/politics/news/the-vampire-squid-strikes-again-the-mega-banks-most-devious-scam-yet-20140212 |
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Just going leave an example of what "bank-sponsored regulation" has wrought ... Vampire Squid strikes againToday, banks like Morgan Stanley, JPMorgan Chase and Goldman Sachs own oil tankers, run airports and control huge quantities of coal, natural gas, heating oil, electric power and precious metals. They likewise can now be found exerting direct control over the supply of a whole galaxy of raw materials crucial to world industry and to society in general, including everything from food products to metals like zinc, copper, tin, nickel and, most infamously thanks to a recent high-profile scandal, aluminum. |
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Unless you are making commits to github https://github.com/bitcoin/bitcoin , polemics, politics and parasiticism is essentially all you have to contribute (i.e. next to worthless in the great sweep of the arc of history.) Regulation will have zero impact on making bitcoin better or worse money in regards to the 'protecting the great unwashed' claim your arguments are hiding behind. Observe how they have gotten screwed over for decades by the 'regulated' financial predators currently in charge, none less than the Federal Reserve themselves. Bury your heads in the sand as much as you like but bitcoin is about something bigger than petty turf wars in the financial shakedown racket, that more and more of you appear to hail from. I have not heard a more ridiculous notion than the "licensing of bits" in a long time by an official agency, but vested interests knows no bounds it seems. Good luck with your appeals to stupidity but all you are doing is crapping in the nest of the homeland for your children, to further your own greedy interests or at best in misguided do-gooding attempts. And here's the final inescapable truth, the bits are totally oblivious to your precious "licenses". Your efforts are already futile and all in vain. |
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No.
Bitcoin is global. Regional collapses in the colonies like USA wouldn't make much difference to bitcoin sentiment in Tibet, Argentina or South Africa.
If the Dollar collapses, you can bet on it that it will take alot of Fiat currency's down with it. Maybe some currency's will be seen as safe havens, which in turn forces that currency to print like mad aswell. I think there's a real good chance of Bitcoin and Gold being banned in case of a currency collapse because it is not "fair" that you hold it, and the majority of the people dont. Socialists will be socialists. ... maybe in the socialist USA states ... frankly i could care less what they decide to do to their 'compliant' citizens, in fact many of them deserve what's coming. You will know which are the truly free states by how they treat bitcoin (and gold), it is the ultimate litmus test, economic freedom. |
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Makes no sense at all. We need more regulation so we can start requiring warning labels on Bitcoin for idiots?
DaFockBro, I didn't say it made sense. That is just how it works in America. ... after the lawyers showed up. Crypto currency was doing just fine before that, now the people making the rules basically have no clue how it works. Tell me how that isn't a recipe for disaster? Do you want a lawyer flying your airplane, operating your local nuclear reactor or fixing that gas pipeline at the end of the street? This IS a highly tuned technology ... just get the feck out of the way and let us handle this one, ok? |
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Show me the angels noob ... ?
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Somebody somewhere wants to license bits ...
Wil-E coyote moment as they look down and realise just how far out over the cliff they have gone?
The widepsread monetary insanity and confusion has no limits it seems.
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No.
Bitcoin is global. Regional collapses in the colonies like USA wouldn't make much difference to bitcoin sentiment in Tibet, Argentina or South Africa.
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Throw a boundary round any geography or population and you can calculate a trade imbalances: they are inevitable. And probably don't really matter much.
All evidence to the contrary. Is bitcoin not a good or a service? The point being it is impossible for it to accumulate inside one arbitrary boundary or another because it exists outside that realm. Gold for instance does pile up in one State or another, and provided the cause of many a war over the centuries. Saying they don't matter very much is just ignorant absolutism without any grounding in observational evidence. The Euro is a shared resource. In Europe only, bitcoin is global, i.e. without boundary. (This forum has really gone to the dogs .... btw) |
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the people who are supposed to be on our side. What the heck are straight-up crooks ready to do? You're assuming that the "straight out crooks" aren't the NSA? (All evidence to the contrary.) |
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