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1061  Bitcoin / Press / Re: This is not exactly approval from Goldman-Sachs, but it's getting close... on: December 29, 2013, 07:52:47 PM
Why would anybody want/need approval from Goldman Sachs ... haven't they overtly subverted the US legislative system and destroyed vast tracts of the economy in their wanton lust for power over others and insanely greedy, short-sighted financial rapings?

Yes, let's welcome the scourge of the planet to bitcoin .... wtf?
1062  Economy / Speculation / Re: When will BTC reach 1Million per coin? on: December 29, 2013, 08:07:46 AM

Well the logistic curve model and recorded growth rates over the last 3.5 years indicates that it will be by then, or probably never ...
1063  Bitcoin / Bitcoin Discussion / Re: Goldman Sachs Director to Join Board of Bitcoin Startup Circle on: December 29, 2013, 04:10:25 AM
Those that liked bitcoin because they are libertarian or anarcho-capitalists, now find themselves in an interesting predicament.

Bitcoin was going to stick it to the man, well now it seems that "the man" is going to be woven into the very fabric that bitcoin is weaving.

Some may not like it, but if bitcoin is going to be widely accepted, you are going to need Goldman Sachs and their sacks of money backing it.

Laws are made by politicians, the very same politicians that Goldman owns.


If Goldman Sachs is going to be throwing its weight behind bitcoin in some way, shape or form, then the odds of strict regulatory clamp downs is reduced, but at the same time, the financial institutions that Satoshi wanted to "stick it to" are now in the same bus as the rest of us.

That rhymed.


heheh, just you keep on thinking like that and we'll all be golden .... blinded by greed you cannot realise the game has fundamentally changed, it is no longer about paper or 'laws' made by the lawless, it is about the code and the tech. ... and if you are not submitting to github you are very likely at the back of the queue handing your wealth to someone else at the front ... whatever else world view you might like to hold ...
1064  Bitcoin / Bitcoin Discussion / Re: Bitcoin In India Under attack :- global community please help on: December 29, 2013, 03:29:12 AM

http://timesofindia.indiatimes.com/city/ahmedabad/Bitcoin-may-be-used-by-hawala-traders-Officials/articleshow/28067184.cms

Looks like The government is starting to demonize bitcoin users.

The bureaucrats in india is like the Vogons. regulation will take about another year and  they will try to get  people the bribe them for favorable licensing and deny licence to any one  that goes through the proper channel .
They are looking at this as a centralized currency base and must be looking for  satoshi to arrest. lol

... sounds like the typical cheap propaganda from a third world junta ...

Quote
Money exchanged through bitcoins can be used for hawala transactions and, in some cases, to fund terror operations.

age old 'terror' invocation, act scared now

Quote
... were recovered during the raid on the office of buysellbitco.in. The racket was being run by a software professional ...

slurs on the accused before anywhere near a court

Quote
This first-ever raid on bitcoin traders which began on

more slurring and aggrandisment of state actions (why a 'raid', not a visit to the offices?)

Quote
The creation, trading or use of virtual currencies (VCs), including bitcoins, for payments is not authorised by any central bank or monetary authority.

FUD spreading ... breathing and drinking water is not authorised either, doesn't stop people doing it every day ...
1065  Economy / Speculation / Re: When will BTC reach 1Million per coin? on: December 29, 2013, 02:48:18 AM
2020
1066  Bitcoin / Press / Re: [2013-12-28] New York Times (Paul Krugman's blog) : Bitcoin is Evil on: December 29, 2013, 01:26:53 AM
Hit piece by the paid mouthpiece ... the tools of his tyranny are becoming ever so transparent.

noble prize, not.

Krugman is Evil

"Do no Evil" - Google
1067  Economy / Economics / Re: Slippery Slope's Million Dollar Logistic Model on: December 29, 2013, 12:16:28 AM
Coinbase reports that 80% of wallets are buy and hold, the remaining 20% are used for transactions. That supports the idea that when fully adopted, the majority of bitcoin will be held as a deflating store of value, and the smaller portion held as working capital by transacting entities. I do not distinguish intrinsic value aside from the contextual market price. Please enlighten me with regard to the two main uses of bitcoin as partitioned above.

OMG how can you even say something so stupid... even this little sentence totally discredits your analysis. The 80% are not "stores of value" but speculators... When the price reaches their desired level, they will sell or buy something with bitcoin, or yes, try to think of it as a store or value, but i think majority will sell for fiat, but you cannot for god sake tell at this moment that they use bitcoin as a store of value, because its not true, and if you fail to realize this, what else you do you fail to realize or what else do you got wrong :-(?

You sound like a spouting idiot .... and it is not the first time I've run across your offensive broadsides either.

The hundreds of billions 'stored' wealth in US Treasury bonds are also from speculators then? (I'd be inclined to agree). You probably don't understand money or how people use it very well going by your rantings.

Hint: Differentiating between speculators and investors becomes nonsensical when the CB's are printing hundreds of billions in fresh money monthly ....
1068  Bitcoin / Bitcoin Discussion / Re: Goldman Sachs Director to Join Board of Bitcoin Startup Circle on: December 28, 2013, 07:57:26 PM
This is like putting Amon Goeth the president of the Jewish National Fund. I don't trust Michele Burns. A hard core Democrat and one of the patrons of the EMILY's List. The Bitcoin community will be much better without her.

I wouldn't trust anybody from Goldman ... they will knife you in the back as soon as look at you.
1069  Bitcoin / Bitcoin Discussion / Re: Bitcoin In India Under attack :- global community please help on: December 28, 2013, 07:29:45 PM
Quote
They just need to form some kind of Foundation in India, donate money, and believe; and everything will be fine.

Wait ... what's that I hear, the distant sound of a crowd holding hands and singing kumbyaa?
1070  Economy / Economics / Re: Monthly average USD/bitcoin price & trend on: December 28, 2013, 07:24:13 PM
So if this trend line is based on assumption of exponential growth phase of adoption curve has there been any consideration to modelling when we begin to approach the saturation level?

I'm just wondering what a sigmoid curve will look like on this log plot (actually I know) but want to see it plotted ... and if there is any sign that the exponential growth may be starting to level off will we be able to see/anticipate that?
1071  Bitcoin / Bitcoin Discussion / Re: Bitcoin In India Under attack :- global community please help on: December 28, 2013, 07:18:58 PM
yes, this is just what India needs to succeed, more laws, regulations, rule books, bureaucrats and officials to oversee the new officiating regime.

Whole new armies of bitcoin bureaucrats in white shirts ... let's just accept the place is truly fecked up and move on ... they couldn't organise their way out of a paper bag.

what bitcoin needs in india is just what it will get ... millions of little bitcoin ninja-warrior guys in hot, smelly little shops doing black deals behind curtains in backrooms ... that's how it will thrive.

Bitcoin Anthem India GOING UNDERGROUND! ... sing along boys!

(btw it's the use case test we've all been waiting for)
1072  Bitcoin / Legal / Re: Would the sale of bitcoin for cash be protected by the US constitution? on: December 28, 2013, 07:09:15 PM
Typical. Bitch about EBIL US government then try to live under its protection and benefits.

Pathetic fools.

Is that the only line you got??

Pretty tiresome, bump the player your grampaphone's stuck in a groove.
1073  Economy / Economics / Re: Monthly average USD/bitcoin price & trend on: December 27, 2013, 06:25:03 PM
Energy costs money, thus adding value to the coins.
If it costs to make it is more valuable than if it is free.

That's untrue. Bitcoin would work even if no energy was consumed by mining. Look up Proof of Stake, for example.


Costing more does not make anything more valuable, it just makes it more costly.  Energy saving measures can reduce the cost, but these do not make it less valuable.

This is correct, it does not make it more valuable but it places a floor on the market price at which point production scales back when price drops below cost .... stickiness in difficulty complicates the calculations further than this though.

Edit: are we going to get a December update?
1074  Bitcoin / Bitcoin Discussion / Re: Penn & Teller : Bullshit! Bitcoin - btc foundation : non-political economy??? on: December 27, 2013, 05:57:31 PM
reads to me like you understand very little about politics and even less about monetary science ... fwiw

Start here https://mises.org/daily/3204 and here http://mises.org/document/3970 and don't stop digging, maybe then come back and spout off?

Money is a value information technology, politics seems to always want to add a layer of moralistic, compromising kruft on top, regardless of the tech. involved. Decentralisation allows value information technologies to become truly apolitical, kruft-free and superior in many ways that all users can benefit from.

The journal of libertarian studies, the austrian school of economics. I hold a bachelors degree in polsci. moralistic compromising kruft, apolitical, kruft-free. You see, you imply you have done the mandatory digging, but spout of in even more meaningless terms - apolitical, kruft-free, superior, good lord man

... so did you have anything worthwhile to add besides ... "Look at me!" ?
1075  Bitcoin / Bitcoin Discussion / Re: Bitcoin In India Under attack :- global community please help on: December 27, 2013, 10:45:13 AM
A DDOS attack on any agencies involved with the crackdown would not be unexpected at this point ... just saying.

Don't take such shit lying down ... if you welcome the scum with resistance they think twice next time.
1076  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 26, 2013, 11:53:53 PM
this "can't buy groceries with bitcoin" shittalk is just sooo much crap ... who gives a fuck if you can't buy groceries with btc??

... you haven't been able to buy groceries with gold or silver since 1930's, yet still been premier monetary instrument of their time. As long as there is liquid market somewhere you can stick your groceries up yer ass. When bitcoin has buried gold into the dusty tomb of history, supermarkets will be beggin you to pay them in bitcoins and you will think they are mad because who the hell would sell their gold for groceries?!

Bitcoins are for savings, houses, cars, babes ... real life stuff like that, not fucking groceries.
1077  Bitcoin / Press / Re: [2013-12-24] RBI warns India on: December 26, 2013, 11:39:13 PM
Sounds like India has just doomed itself to being a Bitcoin backwater ... not surprising given the extent of deranged socialist statism rampant in that place.
1078  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin changed the world... and its price will crash on: December 26, 2013, 11:09:41 PM
You guys are just speculating and throwing around ridiculous analogies that have ZERO applicability in this field. Please stop making yourselves look like complete idiots, as much fun as it for the rest of us.

Funny, because that's exactly what i thought when you started comparing Bitcoin to TCP/IP, and the OP didn't compare Chuck Berry to TCP/IP, you have.  Your analogy to TCP/IP is flawed as its too technically specific a protocol, Bitcoin is a broader concept built upon components.  A better comparison would be with the Ethernet standard which too builds upon a range of protocols and other standards.  That once had competitors and alternatives, it won through.   There analogies should end, because you cannot use the adoption (or otherwise) of technology 30-40 years ago to predict what will happen with a technology today.  What i see here is some trying to attack a perfectly sensible point with distractions and sniping.  The premise that cryptocurrencies might be picked up by institutions would signal mainstream acceptance and adoption of the technology, i dont see why it creates this fear.

all analogies are flawed, they are analogies ... but bitcoin is closer to Chuck Berry than it is to TCP/IP? lol, good try, but you get another post to your tally for your efforts i spose ... at least you understand somewhat about the network effect and adoption curves, it isn't necessarily who's tech is best but who's is first to market ...
1079  Economy / Speculation / Re: Price at end of 2014? on: December 26, 2013, 10:37:27 PM

What I am trying to say is that $2000 to $3000 is not realistic.  That is way too low of a number.  Call me crazy or just bring this thread back in December of 2014 and see who was right.

I think I am.  I am holding.  Smiley

So have you put your entire life savings into BTC?

Yes actually.  Can't say we had that much to put in, but all we could afford to.  Of course, I understand that it could all be worth nothing if something fatal happened, but the odds of that happening are decreasing as time goes on.  I think the odds of it reaching $35,000 are even better than $0 at this point.

BitChick has demonstrated unflinchingly over a long period of time that she has more bitcoin balls than the most of the bullish bitcoin bulls ... and all power to her. (I'm a quiet admirer Smiley)
1080  Economy / Speculation / Re: Price at end of 2014? on: December 26, 2013, 10:09:25 PM
not sure about end 2014 (kind of arbitrary date end of year anyway) ... currently we are stabilising around the $750ish level, picking the next stable level I think we should approach that by early-mid 2015 in the 7,500-13,000 range, possibly peaking as high as 25,000 by end-2014 before dropping back.

Edit: also upside surprises will come out of Europe and UK in 2014, Russia, Eastern Europe and South America, Singapore, South Africa and various island tax havens and gambling locales which have wealth stored in the order of trilions that need to be moved around privately regularly.
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