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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 508335 times)
knight22
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November 05, 2013, 11:33:24 PM
 #461

as more merchants accept bitcoins, the market must grow and get stronger.  Question is is the price stay leveled or as more coins are minted in the next few months with the crazy TH/S mining rate, if the mining produce more coins than it needs or the other way around.


When the mining rate is increasing, there is not more bitcoin minted, they are just harder to mint. The max amount of bitcoin is cap at 21M https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png

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November 06, 2013, 06:08:04 PM
 #462

as more merchants accept bitcoins, the market must grow and get stronger.  Question is is the price stay leveled or as more coins are minted in the next few months with the crazy TH/S mining rate, if the mining produce more coins than it needs or the other way around.


When the mining rate is increasing, there is not more bitcoin minted, they are just harder to mint. The max amount of bitcoin is cap at 21M https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png

Until they up the total number of coins to be generated in the code.
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November 06, 2013, 08:19:10 PM
 #463

as more merchants accept bitcoins, the market must grow and get stronger.  Question is is the price stay leveled or as more coins are minted in the next few months with the crazy TH/S mining rate, if the mining produce more coins than it needs or the other way around.


When the mining rate is increasing, there is not more bitcoin minted, they are just harder to mint. The max amount of bitcoin is cap at 21M https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png

Until they up the total number of coins to be generated in the code.
That won't happen, no one else would agree to it and they would form a seperate currency

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MoonShadow
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November 06, 2013, 10:03:30 PM
 #464

as more merchants accept bitcoins, the market must grow and get stronger.  Question is is the price stay leveled or as more coins are minted in the next few months with the crazy TH/S mining rate, if the mining produce more coins than it needs or the other way around.


When the mining rate is increasing, there is not more bitcoin minted, they are just harder to mint. The max amount of bitcoin is cap at 21M https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png

Until they up the total number of coins to be generated in the code.

No one can do that without the consent of the networked, as that is one of the fundamental rules hard coded into the protocol that will invalidate a mined block.  It would take quite the event to convince the bitcoin networked that is a good idea.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 07, 2013, 05:27:21 AM
 #465

as more merchants accept bitcoins, the market must grow and get stronger.  Question is is the price stay leveled or as more coins are minted in the next few months with the crazy TH/S mining rate, if the mining produce more coins than it needs or the other way around.


When the mining rate is increasing, there is not more bitcoin minted, they are just harder to mint. The max amount of bitcoin is cap at 21M https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png

Until they up the total number of coins to be generated in the code.

No one can do that without the consent of the networked, as that is one of the fundamental rules hard coded into the protocol that will invalidate a mined block.  It would take quite the event to convince the bitcoin networked that is a good idea.

All it takes is 51%... which really should be 66.67% IMO.

Add some praise, money and prestige onto the devs and they are bought and sold. We all know this.


Nonsense.  I dare you to try it, and see what happens.  You assume that the rest of us will just sit back and watch.  If any of us were to come to the conclusion that you were serious, or capable, of doing such a thing; you'd be lucky if you made it home before your phone was hacked and your identity was switched with some guy the Mexican cartels were looking for.  And that's not even cconsidering the hidden reserve hashing capacity that can crawl out of the dark to undermine all of your efforts.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 07, 2013, 09:48:29 PM
 #466

as more merchants accept bitcoins, the market must grow and get stronger.  Question is is the price stay leveled or as more coins are minted in the next few months with the crazy TH/S mining rate, if the mining produce more coins than it needs or the other way around.


When the mining rate is increasing, there is not more bitcoin minted, they are just harder to mint. The max amount of bitcoin is cap at 21M https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png

Until they up the total number of coins to be generated in the code.

No one can do that without the consent of the networked, as that is one of the fundamental rules hard coded into the protocol that will invalidate a mined block.  It would take quite the event to convince the bitcoin networked that is a good idea.

All it takes is 51%... which really should be 66.67% IMO.

Add some praise, money and prestige onto the devs and they are bought and sold. We all know this.


Nonsense.  I dare you to try it, and see what happens.  You assume that the rest of us will just sit back and watch.  If any of us were to come to the conclusion that you were serious, or capable, of doing such a thing; you'd be lucky if you made it home before your phone was hacked and your identity was switched with some guy the Mexican cartels were looking for.  And that's not even cconsidering the hidden reserve hashing capacity that can crawl out of the dark to undermine all of your efforts.

Yep, I don't mine anymore but I would switch on and so would many others.

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November 08, 2013, 07:22:44 PM
 #467

wow its so interesting to read old posts. he is right i think we will se BTC going up a lot in value over the next few month as the chines people are buying like no one else!!
MoonShadow
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November 08, 2013, 08:23:39 PM
 #468

Quote

Nonsense.  I dare you to try it, and see what happens.  You assume that the rest of us will just sit back and watch.  If any of us were to come to the conclusion that you were serious, or capable, of doing such a thing; you'd be lucky if you made it home before your phone was hacked and your identity was switched with some guy the Mexican cartels were looking for.  And that's not even cconsidering the hidden reserve hashing capacity that can crawl out of the dark to undermine all of your efforts.

Yep, I don't mine anymore but I would switch on and so would many others.

Yup, me too.  I still have a GPU mining rig in my basement ready to run.  I've moved to a county in Kentucky that, literally, has the cheapest electrical rates in the United States.  For the time being, that's a base rate (same rate, summer or winter) of 7.49 cents per KWH.  Since I've lived here, the monthly 'fuel adjustment' fee on my bill has always been a credit.  I could heat my house with straight electric heaters all winter for about 16% less than I could using natural gas in the city.  I would invite miners to set up a rack in my basement, if I thought that mining was profitable.  If nothing else, I'd get free heat out of the deal.  It might still happen.  But if I ever got wind that that the network was under assault, I'd mine at a loss with whatever I had available.  Even if I had to air condition the basement during the dog days of summer.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
Gordonium
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November 18, 2013, 11:24:31 PM
 #469

I think it's now safe to say that we have arrived.

The world is now ours.
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November 18, 2013, 11:29:11 PM
 #470

I think it's now safe to say that we have arrived.

The world is now ours.

Ah , I was waiting for someone to bump this. Thanks! Wink

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November 18, 2013, 11:29:45 PM
 #471

Does this mean we crash tomorrow?
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November 18, 2013, 11:34:46 PM
 #472

Does this mean we crash tomorrow?


Even if it crashes down to $100 even more people will buy in, including me. This is the new normal until big movers are rarer and rarer
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November 18, 2013, 11:36:43 PM
 #473

Does this mean we crash tomorrow?

BTC was on the rise before the senate meeting. it just got injected by the senate meeting.. 24 hours after the meeting is not enough time for the fever to die down.

Does this mean we crash tomorrow?


Even if it crashes down to $100 even more people will buy in, including me. This is the new normal until big movers are rarer and rarer

i'm pretty sure that it won't reach $100.. not any time soon at least.
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November 18, 2013, 11:38:13 PM
 #474

It won't crash to 100 anytime soon, look at the trade rates in china. People buy BTC for almost 1k, now, there.

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November 18, 2013, 11:40:09 PM
 #475

Does this mean we crash tomorrow?

This overoptimism reminds me of the days before the last big crash, so that may very well happen...

But I'm not selling, just in case it doesn't crash  Smiley (and becase I've promised myself not to get "sellers remorse" again)
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November 18, 2013, 11:56:37 PM
 #476

Does this mean we crash tomorrow?

This overoptimism reminds me of the days before the last big crash, so that may very well happen...

But I'm not selling, just in case it doesn't crash  Smiley (and becase I've promised myself not to get "sellers remorse" again)

Well, the last time we had a huge run up, I thought that "this has to be a bubble, and it has to pop soon."  So I 'shorted' a small fortune in bitcoins, and lost the majority of what I had when the price surged further and hit my stop-loss limit.  

And by "a small fortune" I meand that literally.  I could have retired by now if I had just ignored the temptation to gamble.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 19, 2013, 12:04:11 AM
 #477

I've put a lot of thought into what I want to do with my bitcoin when the revolution comes to a close. When the whole world enters bitcoin, there will probably be a global bitcoin mania sending prices to unbelievable and unsustainable highs. At the same time, the destruction of the legacy financial system will send stocks and real estate to all-time lows. People will do anything to buy bitcoin and will panic sell everything else they own at bargain prices. That will be the proper time to exit bitcoin and buy promising companies and resources.

Those of us with insight will then be in a position of great power. I believe curing mortality ought to be one of our highest priorities, since we will literally die if we don't solve this problem. Other important projects are artificial intelligence, quantum computers, nanotechnology, the colonization of Mars, and educating people about liberty. In the coming years I will chart out a plan.
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November 19, 2013, 12:07:02 AM
 #478

It won't crash to 100 anytime soon, look at the trade rates in china. People buy BTC for almost 1k, now, there.

Anyone know if  it is possible for non chinese residents to use that exchange for buying or selling ?
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November 19, 2013, 12:11:05 AM
 #479

I love that Bitcoin is going up. Earlier in the year I had about 25 Bitcoin. Over the last few months I had to steadily sell them off because I couldnt find work, and Im living on my own outside the US. I did save 1 single Bitcoin though. I hope I dont have to sell it, I want to hold on to it as long as possible, I want and need to see this go to $10k or more. Im still struggling, but, I still have high hopes in Bitcoin, I will hold out as long as possible, I hope to find work soon, but I wont sell my Bitcoin until I either have to do that or live on the street.

 Comon Bitcoin!

"Never let the future disturb you. You will meet it, if you have to, with the same weapons of reason which today arm you against the present"
- Marcus Aurelius
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November 19, 2013, 12:11:59 AM
 #480

I don't think this works any more!

Perhaps bury it and bump it again at $50,000 per BTC.

I think it's now safe to say that we have arrived.

The world is now ours.
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