jbreher
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January 13, 2017, 08:38:38 AM |
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All right... I'm willing to investigate. But first, you must explain to me why this document -- purported to have been written in 1933 -- contains quotes from 1960. Just exactly what is it you are pushing at us? |
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savetherainforest
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January 13, 2017, 08:41:14 AM |
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Today has not been the best day for me. The guy I was gonna trade half a dozen bitcoins with suddenly dropped off the face of the earth, so now I'm stuck with useless fiat instead of cheap coins. Can't get it back on kraken until sometime next week because banks break on weekends (they really need to fix that bug).
[...]  Even though I sometimes get inklings about the short-term direction of price, I never feel very confident about my inklings until after I see it happen. Therefore, I would not sell my bitcoins in the expectation to use that money to buy from someone who is 10% or so likely to flake (sure flakiness varies, but it is NOT a non-existent or even a low probable risk). To be honest... there is no cataclysmic event happening soon. And from what it looks, the market is being duped.. So... they can't keep this up for much longer. But I guess the exchanges took enough profits from the stupid leverage gamblers. But eh.. what do I know? .. I'm a simple man, doing plain right simple trades, that takes small percentages of profits.  |
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jbreher
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lose: unfind ... loose: untight
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January 13, 2017, 08:45:13 AM |
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Do you run a node? Do you ever stream video content? Are you aware that hypothetical 100MB blocks are no more resource intensive than SD video content?
I do. I uploaded over a terabyte of data to other nodes last month. Obviously if blocks are bigger, the amount of data users need to share to keep the network running will increase. I have very expensive, top tier internet from a major ISP that I recently purchased specifically for running a Bitcoin node. I had to gimp my maxconnections with more typical home user speeds or my internet was unusable for other tasks like surfing the web. While I feel for you, I hardly notice the impact that running several full nodes has upon my foreground browsing activities. Granted, I have a better connection than most. But my point is... If your bandwidth sucks, you are not an asset to the network. Period. Sorry to reveal your inconsequentiality. This remains true whether we are pushing 2MB blocks, 8MB blocks, or 100 MB blocks. It just is. Too bad, so sad. |
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jbreher
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January 13, 2017, 09:05:24 AM |
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The Indian government is also confiscating gold taxing holdings of black money, which is making bitcoin more and more popular in India. Any gold that hasn't been taxed gets confiscated taxed if their government can find it.
FTFY By "black money" do you mean money tainted by contact with our evil banking overlords? Probably gold that's had no tax paid on it. If they have an inheritance tax in India I doubt anyone admits they inherited a shit load of gold to the government. They probably also use it to buy and sell things and don't bother declaring the transactions for tax. Can India's currency ban really curb the black economy? http://www.bbc.co.uk/news/world-asia-india-37933231" Black money is essentially money that has been earned - either through legal activities or through corruption - without any tax being paid on it. There are several estimates of the total amount of black money going around in the Indian economy. A World Bank estimate puts the size of the black economy at 23.2% of India's total economy in 2007.
By making high denomination bank notes worthless overnight, the government hoped that those who had black money in this form would not be able to convert it into physical assets like gold.
Those who have black money will try exchanging it for new notes. But they cannot simply go to a bank and deposit all their old cash, given that it is likely to lead to questions from the income tax department. Any other way of exchanging notes will take some doing, given that the old denomination notes form more than 86% of notes in circulation by value.
As the former central bank governor Raghuram Rajan said: "I think there are ways around demonetisation. It is not that easy to flush out the black money. Of course, a fair amount may be in the form of gold, therefore even harder to catch. Further, the government needs to quickly introduce electoral financing reform in the country. Most elections in India are fought using black money." OK, here's the funny thing. The central bank can bloviate all it wants. In the end the people have the power. (OK, it wasn't exercised in this recent India demonitization, but we should be ready for the next ((hint: it's coming to you)) ). What do I mean? India was about 80% cash. Why would the people not just reply with 'fuck you - we'll just keep using these notes the same way we have been'. Nothing changes. 80% of all transactions continue being done in cash -- not recognized by the gubmint, but who the fuck gives a shit -- and Modi ( and his wall street financiers) get to stew over in the corner. I mean really -- for the people, what is the downside? |
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Cassius
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January 13, 2017, 09:11:02 AM |
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OK, here's the funny thing. The central bank can bloviate all it wants. In the end the people have the power. (OK, it wasn't exercised in this recent India demonitization, but we should be ready for the next ((hint: it's coming to you)) ).
What do I mean? India was about 80% cash. Why would the people not just reply with 'fuck you - we'll just keep using these notes the same way we have been'. Nothing changes. 80% of all transactions continue being done in cash -- not recognized by the gubmint, but who the fuck gives a shit -- and Modi ( and his wall street financiers) get to stew over in the corner. I mean really -- for the people, what is the downside?
The problem is that you have to trust every other member of society to honour the value of that non-government-backed cash. It's like a massive game of Prisoners' Dilemma. Personally I wouldn't trust other people to maintain the value of my wealth (any more than I'd trust the government). Unless it has some sort of very widely recognised/intrinsic value, you're playing a very dangerous game. |
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savetherainforest
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January 13, 2017, 09:44:02 AM
Last edit: January 13, 2017, 10:19:43 AM by savetherainforest |
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OK, here's the funny thing. The central bank can bloviate all it wants. In the end the people have the power. (OK, it wasn't exercised in this recent India demonitization, but we should be ready for the next ((hint: it's coming to you)) ).
What do I mean? India was about 80% cash. Why would the people not just reply with 'fuck you - we'll just keep using these notes the same way we have been'. Nothing changes. 80% of all transactions continue being done in cash -- not recognized by the gubmint, but who the fuck gives a shit -- and Modi ( and his wall street financiers) get to stew over in the corner. I mean really -- for the people, what is the downside?
The problem is that you have to trust every other member of society to honour the value of that non-government-backed cash. It's like a massive game of Prisoners' Dilemma. Personally I wouldn't trust other people to maintain the value of my wealth (any more than I'd trust the government). Unless it has some sort of very widely recognised/intrinsic value, you're playing a very dangerous game. (and you can't put that cat in to the box once it was out, communication is a basic need) , that dream/illusion started to fade away! Because when people became aware that some places had money with more value (like Germany) , they started to migrate there. And as a consequence the word is forced to go in to one global single currency, so the migration and all this nonsense will stop. (But they can't use gold, because they don't have enough of it and its too complicated to use it on a large scale and authenticate it without the proper technology.) |
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jbreher
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Activity: 3080
Merit: 1689
lose: unfind ... loose: untight
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January 13, 2017, 09:48:17 AM |
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OK, here's the funny thing. The central bank can bloviate all it wants. In the end the people have the power. (OK, it wasn't exercised in this recent India demonitization, but we should be ready for the next ((hint: it's coming to you)) ).
What do I mean? India was about 80% cash. Why would the people not just reply with 'fuck you - we'll just keep using these notes the same way we have been'. Nothing changes. 80% of all transactions continue being done in cash -- not recognized by the gubmint, but who the fuck gives a shit -- and Modi ( and his wall street financiers) get to stew over in the corner. I mean really -- for the people, what is the downside?
The problem is that you have to trust every other member of society to honour the value of that non-government-backed cash. It's like a massive game of Prisoners' Dilemma. Personally I wouldn't trust other people to maintain the value of my wealth (any more than I'd trust the government). Unless it has some sort of very widely recognised/intrinsic value, you're playing a very dangerous game. But aren't you already trusting the government to maintain the value of your cash? |
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soullyG
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January 13, 2017, 10:11:52 AM |
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Back over $900 by next week?
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jbreher
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Activity: 3080
Merit: 1689
lose: unfind ... loose: untight
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January 13, 2017, 11:36:50 AM |
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I can't believe we're back on about block size again. My new compass is $700. I can't die holding bitcoins.
WTF? If you die holding any monetary asset, but no Bitcoin, I will have lost respect for you. QFT: You have just been sent a personal message by Bitcoin Forum on Bitcoin Forum. IMPORTANT: Remember, this is just a notification. Please do not reply to this email. The message they sent you was: A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted. Quote Quote from: BlindMayorBitcorn on Today at 06:52:47 AM I can't die holding bitcoins. WTF? If you die holding any monetary asset, but no Bitcoin, I will have lost respect for you. Reply to this Personal Message here: https://bitcointalk.org/index.php?action=pm;sa=send;f=inbox;pmsg=5555973;quote;u=0... as if the topic of bitcoins becoming frozen due to the death of the owner have no impact upon 'Bitcoin price movement tracking & discussion'... grow a fucking brain, moderator. eta: (Edited To Add): 'fucking' - as in: grow a fucking brain, moderator eta2: we see you. and your shit antics ...and we are not amused ... and that ain't the royal we, either |
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BlindMayorBitcorn
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January 13, 2017, 12:03:05 PM |
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I can't believe we're back on about block size again. My new compass is $700. I can't die holding bitcoins.
WTF? If you die holding any monetary asset, but no Bitcoin, I will have lost respect for you. QFT: You have just been sent a personal message by Bitcoin Forum on Bitcoin Forum. IMPORTANT: Remember, this is just a notification. Please do not reply to this email. The message they sent you was: A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted. Quote Quote from: BlindMayorBitcorn on Today at 06:52:47 AM I can't die holding bitcoins. WTF? If you die holding any monetary asset, but no Bitcoin, I will have lost respect for you. Reply to this Personal Message here: https://bitcointalk.org/index.php?action=pm;sa=send;f=inbox;pmsg=5555973;quote;u=0... as if the topic of bitcoins becoming frozen due to the death of the owner have no impact upon 'Bitcoin price movement tracking & discussion'... grow a fucking brain, moderator. eta: (Edited To Add): 'fucking' - as in: grow a fucking brain, moderator eta2: we see you. and your shit antics ...and we are not amused ... and that ain't the royal we, either Lol. I plan to go out in a blaze of reckless spending. Is that so wrong? |
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Cassius
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January 13, 2017, 12:25:45 PM |
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OK, here's the funny thing. The central bank can bloviate all it wants. In the end the people have the power. (OK, it wasn't exercised in this recent India demonitization, but we should be ready for the next ((hint: it's coming to you)) ).
What do I mean? India was about 80% cash. Why would the people not just reply with 'fuck you - we'll just keep using these notes the same way we have been'. Nothing changes. 80% of all transactions continue being done in cash -- not recognized by the gubmint, but who the fuck gives a shit -- and Modi ( and his wall street financiers) get to stew over in the corner. I mean really -- for the people, what is the downside?
The problem is that you have to trust every other member of society to honour the value of that non-government-backed cash. It's like a massive game of Prisoners' Dilemma. Personally I wouldn't trust other people to maintain the value of my wealth (any more than I'd trust the government). Unless it has some sort of very widely recognised/intrinsic value, you're playing a very dangerous game. But aren't you already trusting the government to maintain the value of your cash? The reality is that fiat money only has value because the government accepts it for taxes. Take that away and you are literally asking people to trade against pieces of paper. That works so long as there is confidence: if people agree something is money, it is money. But if people start suggesting the emperor is running around in the buff, it's going to fall apart pretty fast. Of course, the emperor is running around in the buff and things are going to fall apart. It will just take a little longer whilst the government is able to enforce the value of fiat. |
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Tzupy
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January 13, 2017, 12:55:25 PM |
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Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours...  |
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molecular
Donator
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January 13, 2017, 01:18:41 PM |
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Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours... What possible implications exactly? |
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Searing
Copper Member
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Clueless!
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January 13, 2017, 01:19:01 PM |
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Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours... SkyNet😏 So it begins. The great btc bot revolt. Ack! |
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Tzupy
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January 13, 2017, 01:24:43 PM |
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Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours... What possible implications exactly? A possible 10x drop in Chinese volume, how do you think that would look? Bullish?  |
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European Central Bank
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January 13, 2017, 01:26:25 PM |
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A possible 10x drop in Chinese volume, how do you think that would look? Bullish? a 10x drop of something that never really existed. getting rid of an irrelevancy is a good thing in the long run. |
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Cassius
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January 13, 2017, 01:31:03 PM |
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Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours... What possible implications exactly? A possible 10x drop in Chinese volume, how do you think that would look? Bullish? So long as there's not been any fractional reserve shenanigans (which would, admittedly, surprise me but seems to have been the case from the reports so far) then this shouldn't make too much difference? Wash volume shouldn't move price, and ultimately if you can withdraw BTC and sell them elsewhere then price should take care of itself. |
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Chainsaw
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January 13, 2017, 01:43:42 PM |
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Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours... What possible implications exactly? A possible 10x drop in Chinese volume, how do you think that would look? Bullish? So long as there's not been any fractional reserve shenanigans (which would, admittedly, surprise me but seems to have been the case from the reports so far) then this shouldn't make too much difference? Wash volume shouldn't move price, and ultimately if you can withdraw BTC and sell them elsewhere then price should take care of itself. The spread between US and Chinese prices has narrowed not increased today. I had hoped the market would overreact bearishly to this, but I take the narrowing spread as a sign that we may already be moving to consolidating price discovery. ...I wish I like the bottom we have set in better. |
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vgo
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January 13, 2017, 01:57:56 PM
Last edit: January 13, 2017, 02:15:47 PM by vgo |
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I suspect the PBOC will find evidence of fake humans, trading on huobi.
Or a Huobi exchange doesn't even exist and it was just a price feed originating from Karpeles' laptop. Will they all be the same person/bionic trade bot?? A.K.A. "We observe huge volume of high-freq trade by users, often attributed to "faked by exchange" ".
Magic Willy.
NoOK Coin Star
Hubi duby doo LTCChina |
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