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6061  Bitcoin / Bitcoin Discussion / Re: Thank you everyone. on: July 29, 2013, 03:43:49 PM
Yeah ,  me also , bitcoin woke me up from matrix(state[banskters] terrorism with money supply control and more) , still digging in the rabbit hole  .
If you dig past Alex Jones, you're likely to meet David Icke. Cheesy
6062  Bitcoin / Group buys / Re: [CLOSED] KnCMiner Jupiter Shares GB3 .1/per share = .4Gh/s on: July 28, 2013, 06:44:28 PM
Just curious but what is the ETA on the reservations in terms of placing the order?
6063  Bitcoin / Bitcoin Discussion / Re: DetroitCoin on: July 26, 2013, 05:10:22 PM
Interesting topic. I'm going down to Comerica Park tonight for the Tiger's game.
6064  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Big Problem... on: July 22, 2013, 07:27:27 PM
You are assuming that the dollar and the euro will be rock solid currencies. With that assumption, you're conclusions are correct.

Is it very probable that USD and EUR will lose value and people will be looking for alternative money. When people see the financial collapse happening, they will be willing to learn how to use bitcoin.

Gold is pretty much useless, only makes sense as a hedge against fiat currency collapse. Yet the value of all the gold in the world is ~7 trillion USD. Bitcoin is ~1 billion. It's a gamble, sure, but I'd rather bet on bitcoin than on gold.

I'm assuming that the USD and EUR will be relatively stable for the next 10-15 years, yes... But if they did loose their value, why would people go straight to BTC? Most people are completely unaware of Bitcoin, and I feel that precious metals and physical valuables will be the obvious go to investment for most of the population.... That said, I am holding out for your aforementioned scenario!
There's no chance that these paper currencies can hold stability for that amount of time. There's already indicators that Bernanke may back off on stimulus even tho he hasn't expressly stated. There's a portion of his board that want to back off and this will affect the phony stock market that is propping up this facade of stability. I'd venture to say that being stable longer than 5 years is pushing it optimistically. When those in the market get their clocks cleaned, watch out in bitcoinland - the ship is leaving the port.

Lot's of great responses here guys! I have to disagree with this though, there is simply no way the US would let the dollar die... especially so quickly. Without tax money, we would have complete infrastructure collapse and then you can forget about your internet connection to virtual currency. Paper currency is on its way out, but its going to be around for the next twenty years or more, I guarantee you.
I never said it would die or vanish. The amount of printing and future liabilities is eroding the purchasing power and one of the main veneers hiding this is the continuation of pumping money into the stock market. When the bartenders stop serving, the rug will be pulled on the market and the greedy retail investors will be stuck holding the bag. Most people in the know have pulled out and/or have greatly limited their exposure.

What I am saying, like the other poster mentioned, the inflation will be magnified when this hoopla over the stock market goes away and middle aged people as well as retirees will be looking to diversify out of paper. The only way I see things turning around is if Rand Paul is elected President and has a decent amount of allies in Congress to stave off the cheap money policies and cut govt spending with a meat hook; and that means starting with reigning in the American Empire and abolishing whole govt depts. Also, govt regs need to be slashed to open up the private market for better job opportunities. As it stands, younger generations are screwed whether they go to college or not. Now, Obamacare is set to fleece the young in another way.
6065  Bitcoin / Bitcoin Discussion / Re: Bitcoin's Big Problem... on: July 22, 2013, 06:24:37 PM
You are assuming that the dollar and the euro will be rock solid currencies. With that assumption, you're conclusions are correct.

Is it very probable that USD and EUR will lose value and people will be looking for alternative money. When people see the financial collapse happening, they will be willing to learn how to use bitcoin.

Gold is pretty much useless, only makes sense as a hedge against fiat currency collapse. Yet the value of all the gold in the world is ~7 trillion USD. Bitcoin is ~1 billion. It's a gamble, sure, but I'd rather bet on bitcoin than on gold.

I'm assuming that the USD and EUR will be relatively stable for the next 10-15 years, yes... But if they did loose their value, why would people go straight to BTC? Most people are completely unaware of Bitcoin, and I feel that precious metals and physical valuables will be the obvious go to investment for most of the population.... That said, I am holding out for your aforementioned scenario!
There's no chance that these paper currencies can hold stability for that amount of time. There's already indicators that Bernanke may back off on stimulus even tho he hasn't expressly stated. There's a portion of his board that want to back off and this will affect the phony stock market that is propping up this facade of stability. I'd venture to say that being stable longer than 5 years is pushing it optimistically. When those in the market get their clocks cleaned, watch out in bitcoinland - the ship is leaving the port.
6066  Economy / Goods / Re: Bitcoin Magnetic Bumper Stickers - Group Buy? on: July 21, 2013, 09:46:24 PM
Personally, I would prefer to have "IN CRYPTOGRAPHY WE TRUST" printed along the bottom, instead of "ACCEPTED HERE".
me too
6067  Bitcoin / Mining / Re: Offering Free Bitcoin Mining (1 BTM Each) (Post your address to receive) on: July 18, 2013, 07:14:40 PM
 Shocked
19GUqJjmjx7pL4Vz2x1RFAqjfwdUf8Eueh
much obliged!
6068  Bitcoin / Press / Re: 2013-07-17 Inside Butterfly Labs: The challenges of producing bitcoin mining har on: July 18, 2013, 05:08:16 PM
Quote
Up next, part two: How BFL sees the future of ASIC bitcoin mining, how it affects bitcoin price, the arms race between hardware manufacturers, and more exclusive images from inside Butterfly Labs.
Cheesy
6069  Bitcoin / Bitcoin Discussion / Re: Do I really need a Bitcoin wallet? on: July 18, 2013, 05:01:48 PM
At least use something like Blockchain.info where you could recover the coins in case they disappeared, had all funds seized, etc.

My friend, who's a noob like me, had his 5 BTC taken out of his Blockchain wallet a few days ago by some random address and he's worried to ever use bitcoin again even tho he still likes it. He's notified Blockchain about the situation but afaik hasn't heard back from them. Any likelihood that he'll get them back? I can't figure out how it happened but he said he bought like 1.7 BTC a day before the incident and then woke up the next day and his phone app (which is all he uses) showed a 0 balance. He uses 2-factor authentication, as do I, yet he still got sniped. I immediately checked my balance and was thankful to see everything was fine. Any insight?
6070  Bitcoin / Bitcoin Discussion / Re: Lets get US Sen. Elizabeth Warren (D-MA) into Bitcoin on: July 18, 2013, 04:53:14 PM
You can't be serious with this.  She is a statist, through and through.

REAL friends of bitcoin in congress (anti-legal tender laws, pro-competing currencies)

Justin Amash (R-MI)
Thomas Massie (R-KY)
Kerry Bentivolio (R-MI)
Raul Labrador (R-ID)
Walter Jones (R-NC)
Ted Yoho (R-FL)
Jared Polis (D-CO)

While he's been disappointing on some key issues, I'm glad to see he's got some cajones on this. I still have like 70 of his yard signs in my garage and was thinking about putting them out with the trash but he's redeemed himself a little on this one. Now, if he only doesn't vote in favor of another fiscal cliff deal like he campaigned against. The others you listed are no big surprise, Massie, Jones and Amash are top shelf congressmen for sure. Yoho and Labrador get honorable mentions.
6071  Other / Beginners & Help / Re: Looking for a legit mining contract provider. on: July 17, 2013, 06:43:44 PM
Thanks... I was looking into this as well.  With the exponential rate of computation power being thrown at bitcoin it makes me wonder how feasible it'll be for the little guys.  Will this turn into a 1% game?
I would imagine that this exponential rate of computation leading to increased difficulty will coincide with the upcoming deliveries of ASIC miners to more people. Between BFL, KncMiner and Avalon there's likely to be a 100k new miners out there (when delivery launches en masse or however it goes) which might hurt profitability yet will broaden the mining base and make it more healthy. Course, that's just my noob opinion based upon a limited amount of research.
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