thanks for that. how could i have forgotten?
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Don't underestimate the significance of that for sale gold mine that came up the other day. That should serve as a big sale signal for many years to come. Just for review for those who haven't read it yet. This is a great paper that everyone needs to understand: http://m.minneapolisfed.org/article.cfm?id=719&TC=1
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There's no need to include the founders in the initial distribution of a spin off. We've been through this already. Their premine or IPO distribution in the original coin is part of the problem. We are trying to avoid that in the spin off.
The way the founders can still benefit is by buying up the cheap spin off coins that will surely be dumped by Bitcoiners who are skeptical. The founders will surely buy them up if they sincerely believe in their project since they have the asymmetric knowledge necessary to make that assessment.
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Gold will make a comeback soon. It won't loose a chunk of it's value in a matter of days.
as i said, i covered my short just in time. but this is a short term dead cat bounce from a daily cyclical bottom which should fail once again. the long term cyclical top was back in Sept 2011.
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From Data Mining Reveals the Factors Driving the Price of Bitcoins : [...] But to dig more deeply, he also used a technique called wavelet coherence analysis to look for correlations between the price of bitcoins and other currencies such as the U.S. dollar and the Chinese renminbi as well as with the price of gold, a traditional safe haven for investors in times of trouble. [...] His analysis also found no evidence that investors use Bitcoin as a safe haven like gold. [...]
If that's true, that means that when Bitcoin will be used as a safe haven, his price will be 1000x ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) the overwhelming evidence based on several commentators in this thread prove that his conclusion is incorrect.
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what happened to the piddly wall @655?
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I've just realized that the guy looks like mish - coincidentally an unrepentant goldbug (and Bitcoin basher).
Lol, all this time I thought that was Mish. I disagree that he's a bitcoin basher. At worst he's agnostic towards it, but his recent writing from 2014 tells me that he is warming up to the idea. In this March 2014 post, he proclaims that bitcoin is here to stay (i.e., that it's not a passing fad): http://globaleconomicanalysis.blogspot.ca/2014/03/high-frequency-bitcoin-trading-coming.htmlYou are right, he has tempered his initial position. But isn't it a little bitchy to say that Wall Street is what will ensure Bitcoin survival? Yes, I think I see what you mean. It's like saying it will succeed but only due to a technicality. I smell resentment.
Maybe I'm biased because I enjoy Mish's writing and I think he's a smart guy, but my take is that he actually likes bitcoin more than he is letting on. I think he already owns some. My theory is that his is walking a fine line because (a) he doesn't want to risk appearing too radical to his readers, and (b) he is downplaying his optimism to hedge against bitcoin's downside risk. If Mish switches from "agnostic but curious" to "cautious advocate" should we see a bull run beyond the previous all-time high, then I'm going to call my theory correct. I think Mish is just one of the many knowledgeable personas who "want" to like bitcoin but can't simply because it might be perceived as too radical. So I think as more "experts" capitulate, it will give further permission to other experts to capitulate too. We are herd animals. don't forget he gets paid to promote Goldmoney.
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and you wonder why: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fh4vW08B.png&t=665&c=ffBVvKQVrj1pvQ)
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proudhon is a special type of troll.
At times he can be downright vicious. At other times he can be downright adorable.
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3 yrs ago, you were trolling Bitcoin hard, just like you do now. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Houston, ready for launch: ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fimages.gizmag.com%2Finline%2Frocket-fuel-car-2.jpg&t=665&c=0gBPrbNPDhv-yw)
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quite a few banker suicides as well.
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Not sure what the point of the socioeconomic effects graph is, as some would argue bitcoin is not negligible in the corruption, money laundering, black markets department. What is a good reference point for gold bugs is to realize that any monetary system has large infrastructure costs and if the world would somehow switch back to gold those costs would be astronomical compared to Bitcoin.
you think? miscreanity= ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FdEb6M.jpg&t=665&c=tSLaV6p2TTIvsA)
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I disagree with the "emission trend: decreasing" for bitcoin. Ok, in the very long run this is true, but if bitcoin will pick up like most of us here think it will, then the BTC price will go up a lot, and so will mining investment/electricity consumption. Every reward halving should cut that in two though.
it's quite possible that hashrate is leading a price explosion, however. it's been relentlessly going up for over years now and imo is a leading indicator. Ok, but you still expect mining investment to go up in the coming years, no? All in all probably not a hugely important issue, I just felt compelled to point out what I perceived as a 'flaw' in the chart. i'm not saying you're wrong. in fact, there's a helluva lot of banking infrastructure to replace if Bitcoin does get going. but i do think mining has gotten quite a bit ahead of the price, so we'll see.
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"Andrew Ross Sorkin: I don’t know if it’s a Stockholm Syndrome or what, but everybody that I talk to out here — and you sort of get into it — really does talk about Bitcoin as the next big thing. And they believe it. And they mean it. It is not just some kind of fly-by-night thing they are playing with. They are serious, and very big companies out here, are very, very serious about it." ARS is capitulating... http://www.businessinsider.com.au/andrew-ross-sorkin-says-hes-changing-his-mind-on-bitcoin-2014-6
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