Otherwise the post was insightful, thank you, but I believe you had this one backwards.

The number of bitcoins to be mined in the future is the inflation. The number mined so far is the monetary base.

Of course it pisses me that if I buy gold, there is already so much of it, and I can only buy a little and it is expensive and what not. Still, these are the very reasons why I buy gold instead of, say, aluminum, of which only a few days' supply exists and more is constantly mined.

So when I buy into bitcoin, I take confidence of the fact that more than half are already mined, and there will not be excessive inflation in the future. It is another decision whether to "support"/"boycott" bitcoin by buying it or not. I think at the current price levels, it matters little if someone with $1 million in assets decides to "support". It matters absolutely nil if someone "boycotts". We are past that phase now. Only those who have bitcoins have a vote.

Hey, sorry - This is the beginning of the private property: from now on we don't pay the bankers any more, and sure some depositors will lose, but who said that the banks are to be trusted in the first place? This is a great and good revelation of what the banking business is all about.

Thank you all, I have reached my conclusions:

- MP is probably suffering from NPD. This is sad, but from my previous experiences with people, I have learnt that there is not much an outsider can do about it. It is a -EV game trying to interact with such people.
- There is no reason for me to believe that MPOE-PR is a woman, or even a person other than MP.
- MPEx, like most bitcoin businesses, has a high expected failure rate. The scenario analysis gives PV of far less than the current price, which does not warrant investing.
- There is no evidence of MP having legit business before Bitcoin, so tread carefully with him. Like I told before, the powers entering Bitcoin now, are more likely to interact with their peers, and with all probability, the bitcoin-otc trust network will diminish in importance once Bitcoin hits mainstream. It has not been able to detect fraud before it happens, and even after, it does not effectively punish it. (Not saying that MPEx has much trust even there to begin with.)

Disclaimer: the fact that MPEx share price is falling -5% per day in its own exchange is not my fault. I did not short it, nor probably will. I try to operate in liquid markets only, that is why I am late to the bitcoin party. None of what I say is explicit reference to MPEx scamming me or anyone.

Was about to write about the deduction process, but unless you ask for it, I will save my and your time. Most people have ignored him already. I am slow to reach conclusions, and always hope the best from the people, so I am a complete opposite of him in this regard, and I have been scammed many times because of my naivety. I believe I am better off by joining the crowd and ignore.

Done.

afaik, this can't win as Inaba has raised to 2.5 and I have the first bid at 2.25...

Yeah, but if you would trust in us to hold that 1M+ DYM, then we would have a network of mutual trust. We redeem yours, you redeem ours, and ripple keeps the ledger. This way the banking worked in early-mid 1800s

Ah, my bad. DYM was the IOU that is based on silver dime, right (not the dime itself)?

So as Silvervault holds 150,000 AGD, it could issue 1,500,000 DYM against it, or is the issue of DYM only possible by you?

Wow, Silvervault seems to be holding about 1,500,000 DYM, making it one of the largest holders in the world!!

In our accounting: 150,000 AGD, where AGD is defined at exactly 24,71 grams of the said coins.

How can we cooperate in conquering the world? 

Your argument sounds compelling at first, but how about if you consider Land. There is a perfectly limited quantity of it for ever increasing number of people. Yet we have managed to value and price it.

Meh, they will be used against the messengers, such as you and me. Nothing new under the sun.

The mortgagetakers' end will be even worse 

Yeah, possible. I think I maybe should go to safe mode and cease all bank operations effective next week.

Not too long ago, in mid-Oct 2008, I remember lines of people withdrawing their accounts in a Finnish bank. I was actually depositing some EUR 15,000 for some of my metals sales, and it was getting heated because (as we all know) the bank did not have enough cash at hand. From the end of the line, I offered to deposit first, so that they could be paid. The people looked at me in disdain and did not give way. When it was my turn, the clerk was sweating and seemed grateful for my deposit. He forgot to fill the antimoneylaundering papers, poor guy had a helluva day.  

It is not my first time of making an ath while buying. You know, at the moment it feels good. After a while you get a little sour aftertaste. When 2 weeks have passed, you start to feel smug about yourself. 

Nah, when I finally act, I do it and leave no prisoners. And I give you the opportunity to prove your worth in the process. How about this:


$50k, 100k, works for me, ok?

This is the right thing to do. The banks only hold about 8% of what the people have put in. The rest they invest. When the investments go sour, the depositors take a hit. The banking megasystem is responsible for the global malinvestment of the last 100 years, and the chickens are coming home to roost. The artificial depressing of interest rates is the main tool, whose use has gone terribly wrong.

If all the banks in the world will fold as a result, we are going to see quite unimaginable suffering, before the distribution channels of real goods adapt to the new monetary conditions. Something that for most of us, has never happened in our life, since most of us weren't around during WWII.

Total crap. People save on the currency which they believe will retain its value. People spend the currency which is easiest to spend and gives them the best terms. The currency exchange functions to bridge between these, in case they are different. With bitcoin, you are soon approaching the point that it is both the best store of value AND medium of exchange. What will happen to the alternatives, then? Look no further than Cyprus.

I am a precious metals dealer with sometimes large bank balances. Luckily I am stationed in Finland. But if I were in Cyprus, how could I continue with my business? From what you have told so far, those measures are wiping some 50% off your GDP overnight. Are all the smallbiz owners just expected to fold?

In what range does it need to be, you believe, it will not pick up on Tuesday? 

Pls post some wall pics or tell me an easy way to do that w/ mac so I can also do! 

This.

For me, it took about a year from when I first heard about Bitcoin, to the first opportunity to buy it (opening of Mt.Gox) and another year to my first smaaall purchase and a third year to my second purchase and half-a-year (until now) before I am finally confident to invest serious money. Too bad the price has seen a 1000-fold increase during my 3,5 years of waiting...

Quick to hear, slow to act.

Now 100s of millions have suddenly heard about Bitcoin, and it may take 1, 2, 3 or more YEARS for them to act in a serious way.

Unless Bitcoin outright vanishes, I believe for sure we will see a 10-fold increase in price in 2013-2015 based on what has already happened alone. All new developments just amplify the trend.

1 @ 2.25