Right.  And, not for the first time I'm reminding you that straw man arguments such as "those who claim that bitcoin will be the solution to poverty, corruption, fraud, bank abuse, oppression, censorship, etc., etc.. " are bullshit and I'm calling you on it.  Again.  I know hundreds of people within this community both on the technical and financial side and I can't think of a single one of them that sees it in the way as you're trying to paint it here.  Not one.  

It's a tool.  Like I said in my previous post, you're deliberately, disingenuously conflating tool and solution.  I know you're smarter than that hence my facetious tone.

Some tools, like crossbows for example, are known to have levelled the playing field somewhat between the previously empowered and the disenfranchised.  No longer did you need to be a trained full time professional belonging to a paid standing army to be useful on the battlefield.

Some tools, like surveillance databases, armoured cars and the like are known to have been of more use to those with privilege and power than those without.  Did we throw out computers because IBM helped the nazis track dissidents and minorities with their punched card technology?

Some tools, like hammers, are just tools and, as you've astutely pointed out, can be used to almost equal effect by anyone wielding them.  They are used to build both labour camps and hospitals.

The Internet is a tool that can be used by anyone for almost any purpose but, generally speaking, a society with ubiquitous access to a free and open Internet is a greater threat to the .1% than to the rest of us.

There's a possibility that Bitcoin is like a hammer.  Just a tool that anyone can use for better or for worse.  That's certainly how it looks right now.  But I suspect Bitcoin is more like the Internet.  Anyone can indeed use it but, generally, the level playing field its widespread adoption presents would be something very threatening indeed.  

As you've also said, they'll try to ban it, control it etc.  We're watching that.  It's fun.

You're certainly old enough to remember the painful death throes of the old guard music industry and how it flapped about and sued the hell out of anyone that moved in an effort to forestall the inevitable change that the Internet was bringing to their business models.

Well that ended in a complete overhaul of the industry in spite of their best, and most cunning efforts.  

But we know, for whatever reason, that you've closed your mind to anything positive about Bitcoin and are determined to repeat ad nauseam negative arguments regardless of whether anyone's shot them down or not so if it were just the two of us here, I'd certainly save my breath.

The key here really is that Bitcoin is a disruptive technology and if anything needed disrupting, it's the current global financial industry and the frankly horrific level of global inequality that it supports.  

If you'll forgive me, and I'm sure you will, I'm going to put you back on ignore now.  It's not like you ever say anything you haven't said before in one way or another.  

Here we silence only those who need to be silenced.  We make them ...disappear...

So long as you consider that the current system was born in secrecy and depends on opacity for its continued existence.

"The ones that wield power would not give up that power without bringing all of the tools at their command to bear. They have struggled to achieve and maintain their power for generations. To think that they would relinquish their status without a fight would be foolhardy."

Regulation and censorship of the internet through the proposed "net neutrality" legislations is just the tip of the iceberg.


It's ok to hope for the best, as long as you prepare for the worst.

Some of them are really funny. Do you ever question their motivation?

Lots of patience.

I think it's better this way actually, price stays low enough that anyone getting in right now won't get hurt to bad if this thing doesn't work out. Also gives more time to accumulate just in case it does work out.

"As low as possible for as long as possible." <- beware that there is a non-zero chance that bitcoin never succeeds.

Just think of bitcoin like a lottery ticket. If you would be in financial peril if the price went to zero, you should reconsider your risk exposure.

Sorry for doom and gloom, but I think it's important to recognize the risks when considering the potential.

It's ok, if we can just find another $1 Trillion we can BUY a WHOLE F-35 for each branch of the military!

edit: Right, with corporate subsidies/tax breaks, taxes are effectively cancelled out for the really big players.

I start trembling reading this word. Please don't write it so frequently, since sometimes I wake up at night only to check THE LIST

I don't think it is money motivating all the alt trolling, it's pathology.

...
Now those Greeks... Don't even get me started!
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Sorry i did not include i am using a coolermaster 850 W psu and uninstall all and reinstall all had no effect. I logged onto mmorpg and it seems very responsive for gaming.

That is not exactly true.  Big money has always been able to get coins easily, even withoit any ETF.  For example, back in late 2013, the Fortress investment group (>60 billion USD in managed assets, >300 million USD/year of revenue) bought 13 million USD worth of bitcoins (which they later disposed of).  Basically anyone with a fair income and a million dollars in hand could buy BIT shares, since Sep/2013.  The last USMS auction got no big buyers, not even Tim Draper.

Obviously, "big money" is not buying bitcoins because they are not interested.  

What the ETF and the OTCQX listing are expected to do is to allow more small money to invest -- namely, retirement and savings accounts, less sophisticated investors, etc..

BIT has 138'000 BTC in deposit, but the corresponding shares are all sold,.  The Winkle personally own another ~200'000 that presumably they expect to sell to the fund to satisfy the first ETF clients.  

It seems hard to predict what will happen when the Bit shares start trading at OTCQX, and if and when the Winkle ETF gets approved.  There has been practically no demand for BIT shares since May 2014.  Both are not "new" coins, but just part of the same 14 million coins out there.  They come with a nice-looking and sanitary wrapping, but on the other hand they have less liquidity and less utility than raw bitcoins (you cannot spend them, or split them in less than 1-share amounts, or use them to hide money, etc.) In the medium and long term, the coins represented by those fund shares can be seen as taking part in the same market as the raw bitcoins, with the same volatility and liquidity problems.  

Before this post I only posted two smilies and im also on THE LIST. 

 

Guys is it me or is it at you as well ? It seems to stay in loading and not see chat or any function on website for 12 hours or so.

New miner with a dumb question
I have amd m2n32sli deluxe motherboard 3.0 ghz processor 4 gigs ram running windows 7 64 with an evga gtx 560 TI graphics card.  The gpu hash rate is about 150 h/s
I just went and bought a new evga gtx 970 graphics card but oddly enough it doesnt do anything.. It shows 0 h/s and eventually minergate stops responding..  No matter if i set intensity at 1 or 2,3,4. 

Any ideas.

Fyi the drivers for the 560 and the 970 are the same version number from evga website

It is Saturday here, the price will go up, as manipulators need a day off to spend the money they make off us.  Is that good news?