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Trade imbalances that can lead to financial instability, crises, economic misery and finally warfare have been around as long as the humans have formed trading collectives, blocs and nation states.
A common settlement system without borders, or a indeed even a physical manifestation, has no ability to precipitate an imbalance because it does not exist, in one location or the other, only on the blockchain which is a shared resource common to the trading entities.
BitCoins not bombs.
Govts will hate bitcoin because it cuts them out of the war business, of course they will try to regulate it.
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Anti-fragile.
Bitcoin feeds on bad news and criticism.
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... the price of gold manipulation will be very high.
Economies will be paying for the wealth destruction, capital misallocation and lost opportunities, consequences of the gold manipulation, for a long time to come ...
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And that said, the price right now could be undervalued, as hard as that is to believe!
We absolutely know that's true, because if China and other nations hadn't been imposing regulatory impediments to the preferences of firms and individuals, then the price would be significantly higher. But they are. Markets deal with realities, not "what the price would be if ... ". Central authorities can influence prices far beyond their actual on the ground impact using propaganda, irrational psychological reactions of crowds (chilling effects) and overt price controls. |
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Yeah, bitcoin is so broken network adoption is up 1000 times in 3 years ... who are these morons that they let write anything at all?
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so what do all the people do with the GOX $ now?
Goooooooooooooxxxxxxxxxed! |
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bitcoin=diamond rings ...
who said there's no girls into bitcoin?
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Anonymity is not just for illegal activities.
There are plenty of very good and legal reasons to conduct private transactions. Companies that use open blockchain transactions can be tracked by their competition and so many companies are not eager for this information to be public for simple business reasons.
This prospect provides an alternative for these legitimate uses.
There are legal requirements for private transactions, lawyer-client confidentiality, medical records, corporate policy, due diligence, fiduciary duty .. many of these legally require privacy of transactions. It's just insane expecting a transactions system to be completely transparent. It's Utopian, mis-guided and goes against millenia of human nature. The people who propose it are dullards, lazy LE or corrupt insiders looking to gain an edge from information asymmetry. |
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Not real big on individual liberties, self-determination and free markets are they? Who let these guys near the reins of power, they are downright dangerous, not to mention unelected. |
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So if bitcoin were to soak up 10% of the bailout money it will be >$100k per coin ... just to give some perspective. |
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Yeah, because Open Source software is such a labrythine "world of intrigue" ... sheesh  is that the best hit phrase they can come up with? |
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Also I think he might fail to realize that bitcoin most likely will be accepted at a lot more places than gold can or will ever be, giving bitcoin some extra value imo. This is what goldbugs need to address squarely and fairly. Gold is effectively being demonetised because of Gresham's Law. Bitcoin, as a P2P transaction network with ease of use and implementation, can turn Gresham's Law on its head and inside out. If your money is not accepted many places it loses it's 'moneyness'. |
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This quote came from the summary of last week's FOMC meeting. I don't really understand how it works or how often it will be used but it implies another non-QE way to keep stoking the markets.
"The Fed also extended an experimental program which it could someday use to manage short-term interest rates. Known as a "reverse repo" facility, the program uses the Fed's portfolio of bonds as collateral for loans to market participants and uses the rate on those loans to influence market rates. The experiment was set to expire Wednesday, but the Fed extended it for a year until Jan. 2015. They increased caps on the size of trades the Fed can make to $5 billion per counterparty from $3 billion"
i.e. we'll taper by $10B but we'll pump that and more back into the markets by any means possible.
Good catch. I did not know anything about that stinky little program ... actually not that little by the sound of it. Gawd whatta mess. The Fed is now sitting on a pile of debt (some of it unmarketable, i.e. worthless except when using the right 'model') that it bought off busted-ass banks to get it off their books ... now it turns around and posts those bonds as collateral for loans to 'market participants' i.e. probably the same busted-ass banks it bought them off ... it's just lunatic asylum stuff. How many more times can they chase the same crappy debt around the circle and still fool the markets it is worth anything whatsoever? |
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... has anybody said "She was asking for it" yet?
Can't we let this thread die already?
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So, a man who prints millions of dollars a day to bail out his country and a banker, don't like BTC....who'd a thunk? Technically, the Treasury secretary is not printing the $65 billion per month, that is Janet Yellen, Federal Reserve Chairwoman's responsibility. The US Treasury Secretary just makes sure that the ever growing pile of debt notes issued by the Government keeps flowing so that the Fed. has something to buy with all that freshly printed e-money. E.g. unpayable debt obligations of the now bonded tax-paying US 'free' citizens. |
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We are in a currency war and China has us by the balls. The Fed might be taking orders from China and not really giving a fuck about the domestic situation.
China wants the USA to have a strong dollar.
Everyone wants the USA to have a strong dollar to enable exports, not just China. But I completely disagree that China has us by the balls, if at the same time they want a strong dollar. The US has already exported manufacturing and borrowed to the hilt, so there is only one direction for the US dollar and that is down. What we are seeing now are competitive devaluations by every central bank around the world. Japan is printing like crazy, China has tons and tons of debt that will have to be bailed out, and now the US gov has decided there has been enough mercantilism by China and they will print like never before to stop it. All currencies are on a downward path now, and central banks are fighting to keep up with the others. This is a first for humanity and will not end pretty. Every nation wants to devalue their currency, to soften their self-inflicted economic blows. Only the Bitcoin supra-national currency can handle the kind of deflation that is needed by the capital markets to begin functioning healthily again .... |
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Sure is slow lately =/
its the calm b4 the storm. feels like short term trend is reversing, this is a slow process. i think as long as we don't have any bad news confirmed, things are going to get real interesting, real soon. hang in there. I agree. Price is generally sticky, it is due to human psychology, people are most happy to pay today what they paid yesterday. It was sticky at $1, $10, $20, $100 and now here, but the pressures building beneath remain relentless http://www.bitcoinpulse.com/ coinbase now at 10,000 wallets per day and blockchain.info ~6,000 per dayEventually the building demand pressure overwhelms the stickiness and demand outstrips supply at the margin and then we need to re-adjust price to reflect the new reality that has built up in the time that the price has been stuck, hence the volatility. It is not going to be smooth climb up to to saturation level pricing because humans are human. |
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Gold adoption rates saturated ... that's it's biggest problem right now.
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