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5741  Other / Beginners & Help / Re: I lost 10BTC due to a bug v0.6.0 on: May 19, 2012, 06:14:08 AM
for me it's money

It's money for us all brother.
5742  Economy / Economics / Re: Greece mulls Euro exit on: May 19, 2012, 06:07:28 AM
Greece should:
1. Default on the loans they can't pay. Its just the ECB paying them right now anyway.
2. Now, they would no longer be able to loan a dime.

I'm not even sure about that. Free of debt economy being built with motivated population? Might be a good investment... get in early Wink

They should do 1. and then make their own currency. I read they have some gold, just use that to back it and jump in the boat with russia, china,... (who will do the same at some point) and be the first of european nations to have sound money.

If they did that they'd be the richest nation in Europe by 2020.

How will they stop the bankers from confiscating the gold.... when you go bankrupt your creditors get to split up all your assets.

That's not necessarily true. You might get to keep a minimum for survival (300 tons of gold is not unreasonable, also: Bill Gates said civilized people don't want gold, so the bankers should be civilized).

Also: Russian military will protect their "fellow free market allies", threatening to nuke the City of London Wink


1. Who said bankers were civilized?
2. WWIII here we come.
5743  Economy / Economics / Re: Greece mulls Euro exit on: May 19, 2012, 05:33:16 AM
Greece should:
1. Default on the loans they can't pay. Its just the ECB paying them right now anyway.
2. Now, they would no longer be able to loan a dime.

I'm not even sure about that. Free of debt economy being built with motivated population? Might be a good investment... get in early Wink

They should do 1. and then make their own currency. I read they have some gold, just use that to back it and jump in the boat with russia, china,... (who will do the same at some point) and be the first of european nations to have sound money.

If they did that they'd be the richest nation in Europe by 2020.

How will they stop the bankers from confiscating the gold.... when you go bankrupt your creditors get to split up all your assets.
5744  Bitcoin / Bitcoin Discussion / Re: What would happen? on: May 19, 2012, 04:51:57 AM

The client tries to keep 100 unused private keys available in a "key pool".  So the first time an address from your wallet receives a payment the client then marks that address as being used which brings the number of addesses in the key pool below 100.  The client then adds a new one automatically.


Is this true?

I always thought that if I had a backup that was in address 98 (for example), and used the client until address 110 and lose the wallet.dat at that point I'd be screwed.

I thought that the client generated another 100 addresses at once just when the number 100 was reached, good to know it's not that way.

Yes... the idea of a key pool is is to keep the pool full.  Swimming on concrete is no fun.
5745  Economy / Currency exchange / Re: WTT Paypal fund for bitcoin . on: May 18, 2012, 03:07:01 PM
www.virwox.com

You won't find a p2p trader who will trade with you unless you have an established relationship with them.

deja vu?

I like to at least present the most viable option when the question is asked before I join the troll army in bashing paypal.
5746  Economy / Speculation / Re: Mt. Gox USD 365-day change is now negative... when will it become positive? on: May 18, 2012, 02:59:24 PM
I'm not sure I agree with your Y-axis.  It's labeled as % change, but doesn't really represent that.  I would think what you have labeled as 100% should be 0% change, with positive and negative numbers instead of > 100 and < 100.  At the very least, the label should be changed to accurately describe what you are representing.
5747  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: May 18, 2012, 02:56:21 PM
...
5.)  True, it doesn't make him wrong.  But I would suggest that it is more likely to make him wrong than if he were not a stakeholder.

...
5) I would disagree with that.  If he were not a stakeholder he would pay far less attention.

...
5)  Depends on which is more immediately profitable to him, important to him, etc....his subscription service or his investments.

Most brokers probably burn there books at least once in their careers.  If you've got a muppet army and are working in such a thin market as Bitcoin where an opportunity to swing it might pop up, why not?  Coordinate with Waveaddict and S#### and you could probably make a (veritable) killing.



Except none of the subscription providers have a "muppet army".  In fact, when they all agree, price tends to move the other direction.  There are just as many sharks who subscribe as sheep.  The newsletters are merely indicators, and sometimes are contrarian when they are too one sided.

But good job judging that which you have no knowledge of.
5748  Economy / Currency exchange / Re: WTT Paypal fund for bitcoin . on: May 18, 2012, 03:50:24 AM
www.virwox.com

You won't find a p2p trader who will trade with you unless you have an established relationship with them.
5749  Economy / Currency exchange / Re: looking to trade paypal usd for btc on: May 18, 2012, 03:47:56 AM
Noob here.  So far, so good.  As he said....paypal $25 USD for 5.0 BTC.

Pudding:
https://imgur.com/g5fFW

I hope it goes well.  But I would be careful about doing more of these types of transactions if I were you.  Lots of money has been lost in this community to Paypal scammers.  Nothing against nckrazze, it's just that paypal always sides with the sender and bitcoin is irreversible.  It's a scammer's dream.  On top of that, Paypal will suspend your account and lock up your funds for months if they find you doing significant bitcoin transactions.  Just ask http://coinpal.ndrix.com/.
5750  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: May 18, 2012, 03:40:41 AM
1.)  Ok.  If his time frame is "many months to years," then we can't possibly assume that anything that has happened in the past 2 months since this thread's creation is positive correlated with his prediction.

2.)  Fair enough.  As I said, I only read a few pages of this thread.  I understand this makes for uninformed assumptions, but he killed all of my motivation to go back and read it all.  He shouldn't feel bad about this, though.  I'm cocky and stubborn myself so I understand where he's coming from.

3.)  Fair enough.  Time will tell.  I do genuinely hope that he is correct for his own sake and for his subscribers'.

4.)  Rocketing?  That's going overboard.  Rocketing since when?  Gold 'rocketed' 2% overnight.  It's also 'rocketed' ~800% in the last decade.  Besides, if he's speaking from a long-term perspective, that perspective would also indicate that the US dollar has been falling like a brick.  Rocketing in this case is from a short-term perspective.

5.)  True, it doesn't make him wrong.  But I would suggest that it is more likely to make him wrong than if he were not a stakeholder.

1) Not sure what you mean.  Can you rephrase?
2-3) Nothing to add.
4) That's more my wording than his.  It has been rising for 14 days straight, the longest streak since 1985.  IMO, we will see more rising than falling over the next 8-12 months.  Apple also 'rocketed' over 5500% in the last decade, Bitcoin rocketed several thousand percent last year.  Apple is down 17% from its peak and Bitcoin is down 84% from its peak.  Even with it's counter-trend rally today gold is down 17% from it's peak.  What goes up must come down, especially when it is pumped up with QE.  Now that the free money is drying up, who's going to buy?
5) I would disagree with that.  If he were not a stakeholder he would pay far less attention.
5751  Economy / Currency exchange / Re: looking to trade paypal usd for btc on: May 18, 2012, 03:01:07 AM
send as a gift so I can't reverse it.myself.

You can reverse a "gift" on Paypal.

Why does so many people want to pay for Bitcoin with Paypal? I don't understand it. Just withdraw your paypal-money to a bank account to get real money and then buy Bitcoin like everyone else.

Going through paypal is way quicker. And I am in a current transaction right now. Please check out this thread and let me know what you think. I still haven't paid the guy as I am waiting for confirmation.

https://bitcointalk.org/index.php?topic=82296.msg906997#msg906997

You're very unlikely to find a p2p trader who will deal with paypal.  Your best bet is virwox.com.
5752  Economy / Speculation / Re: The Weekend Dip Myth on: May 18, 2012, 02:55:49 AM
Time cycles come and go, and if they are correct too often, this is typically the time when it does not work any more.

I bet it works this weekend.

Someone just spent over $76k to disagree with you.

People have made costlier mistakes.

I'm not disagreeing with you.  It's likely just a long term investor who doesn't give a shit what happens this weekend.  In a year they should be sitting on a nice profit.  It's just the timing was ironic.  It was within minutes of your post.
5753  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: May 18, 2012, 02:48:54 AM
1)  Your thread title is dubious as it does not specify a time-frame and this makes it all the more convenient for you to pick data corresponding to specific time-frames to make it appear as though you know what you're talking about.

2)  You fail to recognize (or at least you underestimate) the interdependence of the Eurozone markets and the American markets in a global economy.  Well, at least that's what I see from the 5-6 pages of this thread that I read.

3)  You haven't even been correct.  Gold and Bitcoin have been performing similarly since the date of this thread's creation.

4)  Gold has, for the past 6,000 years, been THE source of financial refuge for virtually every civilization.  When currencies fail, gold is the next best thing.  Miscreanity hit the nail on the head when he said BTC isn't ready yet.  BTC is holding at $5 purely due to speculation; you know this, I know this.  YOU are speculating, and with respect to gold, you are doing so in stark contrast to history.

5)  You are a stakeholder in that which you advocate.  You put your money in BTC, and it would be just dandy for you if everyone cashed out of PMs and invested in BTC.  AND you have a subscription service!!!  Of COURSE you are going to maintain that you are correct because who the hell wants to buy a subscription service from someone that isn't correct most/all of the time?

Cyperdoc beat me to a reply, but here's mine anyway... maybe it will mean a little more coming from someone else.

1) Since the beginning of the thread cypherdoc has been consistent that his time frame is many months to years.  It's been two months.

2) You're wrong.  He frequently discusses interdependence of various markets in his newsletter.

3) True, but again, he has been clear about a timeframe on the order of many months to years.

4) USD isn't failing, it's rocketing at the moment.  Sure, other currencies are in trouble, but people trust the USD more than they trust governments/banks to give up their rigged game and return to gold.  Gold rises on USD inflation, not deflation.  I will concede that bitcoin isn't ready and cypher is a little more bullish than I am, but again he speaks from a longer term perspective.

5) Fair point.  It doesn't make him wrong though.

Yes, cypherdoc can be cocky, but I have observed him pick quite a few corners in various markets with amazing accuracy.  He saw them coming with enough time to share the knowledge and present a very convincing case.  His methodology is good, and he's more than willing to teach anyone who can deal with his confidence without being put off.  What does picking on his personality gain you guys?  Embracing it has made me over 20% in the last two months.  Of course, I did my own due diligence and sought other opinions and research.  I wouldn't suggest taking anyone's word as gospel.
5754  Economy / Speculation / Re: The Weekend Dip Myth on: May 18, 2012, 02:18:54 AM
Time cycles come and go, and if they are correct too often, this is typically the time when it does not work any more.

I bet it works this weekend.

Someone just spent over $76k to disagree with you.
5755  Economy / Speculation / Re: It is starting to look yuck! on: May 17, 2012, 11:50:54 PM
The next months will bring all financial markets down hard, no matter if PM, stocks, EURUSD, whatever. The only thing that may rise is BTCUSD.

Heh. Are you a clown, or just a joker?



This is no joke, but the upcoming reality. I am happy to provide more perspective if you want.

For once, I actually agree with S3052.
5756  Bitcoin / Bitcoin Discussion / Re: George Selgin advocates Bitcoin AGAIN on: May 17, 2012, 05:47:38 PM
What bitcoin is: Honest, strict, free of coercion, voluntary, regulated by market consumers (a free market), sovereign, without entitlement of equality between users ect.

@Portnoy:
Can you please point to an existing democracy that can by described by even one of these terms?
5757  Economy / Speculation / Re: To Roth or not to Roth? on: May 17, 2012, 05:23:24 PM
I make 5 figures in a good year.  How is it cheaper to pay taxes later on an IRA when I can pay 0 taxes and put my extra income in a Roth?

Quoting myself since you couldn't bother to read it last time...

When did I quote your reply?  or address it in any way?  Till post #17

Sorry I didn't address your special case making so little you don't pay any taxes at all, usually if your so poor you have near zero income you don't put money in an IRA, you buy FOOD.

I grow a lot of my food.  I'm not hungry.  I make plenty on an hourly basis, but I spend more time with friends and family than most people.  I also prefer to not support the fuckers that use other people's money to kill poor people in other countries so they can steal their resources.  I don't have a lot of extra money, but I'm by no means poor.  My low income is a conscious choice.  I have no desire to compete with others to see who can accumulate the most material goods.

As for my "special case", it would also apply to those who are in the lowest tax bracket, which is a lot of people.  Like I said, there is crossover point, but many young people aren't even close to it.  Hell, less than 30% of people in my age range are able to find work in the area they are trained.  Many are working fast food or retail because that's all that's available.

But, you keep fueling this fire-cult called America.  Eventually, all you'll have left is ashes.
5758  Bitcoin / Bitcoin Discussion / Re: George Selgin advocates Bitcoin AGAIN on: May 17, 2012, 05:01:48 PM
I'm doing my damn best to avoid delusions being perpetuated in Bitcoin.

What bitcoin is: democratic

What bitcoin isn't: democratic

Blow job.    Grin

Look... I can edit your posts so they say something completely different too.
5759  Economy / Speculation / Re: To Roth or not to Roth? on: May 17, 2012, 04:59:39 PM
I make 5 figures in a good year.  How is it cheaper to pay taxes later on an IRA when I can pay 0 taxes and put my extra income in a Roth?

Quoting myself since you couldn't bother to read it last time...
5760  Economy / Economics / Re: Victoria Grant explains Fictional-Reserve Banking and why everything is crashing on: May 17, 2012, 04:58:37 PM

I really don't want a world were people can't buy a house because there is no FRB system to let the previous generation lend to the next generation at a profit.


I just bought a house precisely because the previous generation lent to me and my fiance at a profit.... but there were no banks involved.  There is no need for FRB when you have a community.  Instead, many people choose to live in a cutthroat world without neighbors and friends.  No thanks.

I'm glad for you.  You are very lucky to have access to a previous generation to do so.

I also would like the world you describe where we borrow directly from people we know; bitcoin will help us get there.

Until then... FRB and banking is filling that gap.  Unless you seriously think that every current FTB has parents/friends/neighbours with enough saved cash to purchase a house?

It's worth remembering that bank lending should have the advantage that they can spread the loss.  If 1000 people deposit $1000 each, and 10 people borrow $100,000 then with your friends/neighbours scenario 10 people lose $1000 if someone defaults.  With a bank, 1000 people lose $100 (of course I've not included profit, which will cover a certain amount of default in a real system).


Except they are filling a gap that was created by convincing people that banks are the only people who should hold money.  Let's make a gap, then fill it so we can be the saviors.

With a community, you know who are are lending to and only give them what you are sure they will pay back.  With a U.S. bank, the bank makes bad loans and gets taxpayer bailouts and everyone suffers.  There is no due diligence anymore.  It's all about numbers, and numbers are easy to fudge.
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