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Author Topic: Bitcoin press hits, notable sources  (Read 406840 times)
btc247
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June 11, 2011, 05:31:36 AM
 #681

It's a shame that LRC couldn't manage to wrap their heads around Bitcoin before posting this.

It's astounding how many people state that Bitcoin is worthless because they did not value its initial state.  I valued it because it was cool (and should have paid more attention with BTC I bought/earned).  Now I value it because it will revolutionise the world.

Trading shiny lumps of metal is no more fundamental than transaction announcements.  They're both pretty good.  I look forward to when we can trade gold based predominantly on its industrial value.

They also tend to forget gold's initial use value was little more than "ooooh, shiny!"

Gold's initial "use value"? was a lot more than that. Gold has over a dozen properties that make it an excellent store of value over other resources. One of them being durability. How durable is a hard drive?

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June 11, 2011, 05:43:26 AM
 #682

http://dailyreckoning.com/the-war-on-digital-currency/
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June 11, 2011, 06:41:25 AM
 #683

http://www.itproportal.com/2011/06/10/amnews-microsoft-acquires-prodiance-bitcoin-evolves-citigroup-networks-hacked-wii-u-available-on-pre-order-at-zavvi/

Of course!  Jeff Garzik is Satoshi!  Wait, that's just stupid.

"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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June 11, 2011, 06:50:04 AM
 #684

It's a shame that LRC couldn't manage to wrap their heads around Bitcoin before posting this.

It's astounding how many people state that Bitcoin is worthless because they did not value its initial state.  I valued it because it was cool (and should have paid more attention with BTC I bought/earned).  Now I value it because it will revolutionise the world.

Trading shiny lumps of metal is no more fundamental than transaction announcements.  They're both pretty good.  I look forward to when we can trade gold based predominantly on its industrial value.

They also tend to forget gold's initial use value was little more than "ooooh, shiny!"

Gold's initial "use value"? was a lot more than that. Gold has over a dozen properties that make it an excellent store of value over other resources.

This is true, and why gold became that preferred market money for thousands of years.  But Regression theorem requires a use value to exist before it's properties as a good money could matter.  Since gold was money long before the bronze age, and is too soft and heavy for weaponry, it's initial use value was highly limited at the time.  Basicly, some warrior-king's most favored wife saw some gold and desired it for it's beauty, so the king desired it to keep momma happy.  So basicly, "Ooooh, shiny!"

Bitcoin's initial use value was it's potential to be a good medium of exchange as compared to current online offerings; and it's first monetary use was basicly a 10K BTC pizza.

"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'
Vladimir
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June 11, 2011, 07:00:58 AM
 #685


Aha! Satoshi is outed!  Wink

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Grant
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June 11, 2011, 07:06:58 AM
 #686

http://www.dailytech.com/Digital+Black+Friday+First+Bitcoin+Depression+Hits/article21877.htm

Kinda, funny article, i guess the moral of the story is:

A 30% intraday correction after a week of rallies = depression
A correction is also = inflation

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June 11, 2011, 07:17:47 AM
 #687

http://www.dailytech.com/Digital+Black+Friday+First+Bitcoin+Depression+Hits/article21877.htm

Kinda, funny article, i guess the moral of the story is:

A 30% intraday correction after a week of rallies = depression
A correction is also = inflation

Agree with you, this article is just ridiculous. People with no idea about financial markets and trading write this superficial nonsense.

I predicted based on technical analysis that BTCUSD will enter a consolidation / correction on Jun 9th. The 30% decline is nothing special in financial markets like bitcoin with high volatility after  a huge exponential rise.

Nothing different, and nothing worrying for bitcoins, UNLESS BTCUSD falls through 18-20$ or 10$.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

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June 11, 2011, 02:40:20 PM
 #688

Does that mean we can panic now?

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
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June 11, 2011, 03:01:17 PM
 #689

nah, just means some one decided to sell out :p it's going to keep happening. Eventually some one with alot of BTC is going to meet their price and cash out.

ZOMG Moo!
em3rgentOrdr
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June 11, 2011, 03:03:02 PM
 #690

It's a shame that LRC couldn't manage to wrap their heads around Bitcoin before posting this.

It's astounding how many people state that Bitcoin is worthless because they did not value its initial state.  I valued it because it was cool (and should have paid more attention with BTC I bought/earned).  Now I value it because it will revolutionise the world.

Trading shiny lumps of metal is no more fundamental than transaction announcements.  They're both pretty good.  I look forward to when we can trade gold based predominantly on its industrial value.

They also tend to forget gold's initial use value was little more than "ooooh, shiny!"

Gold's initial "use value"? was a lot more than that. Gold has over a dozen properties that make it an excellent store of value over other resources. One of them being durability. How durable is a hard drive?

Bitcoin does have an initial use value as a distributed time stamp network.  You can see and verify transactions from anywhere i'm the world without accessing a central server.  Also you don't need to store it in a single location like a safe or harddrive, but you can instead encrypt your wallet, upload a copy to dropbox, stick a copy on usb, and keep a daytoday use wallet on your mobile device without having to hire armed guards to protect your stash.

Another thing its funny David Kramer cites Rothbards "What has the government done to our money when that book  is really an example of why bitcoin can work as money.

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
timmo11
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June 11, 2011, 03:38:05 PM
 #691

Lead story in the Sydney Morning Herald ("Drugs Bought With Virtual Cash") online. The article is 50/50 about Silk Road and Bitcoin - including the exchange rates for USD in the last couple of days.

http://www.smh.com.au/technology/technology-news/drugs-bought-with-virtual-cash-20110611-1fy0a.html

The breakthrough has happened folks. Everyone is talking about it. Coming soon to a hostel near me (hopefully)

Tim
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June 11, 2011, 07:37:22 PM
 #692

Spiegel Online strikes again:

http://www.spiegel.de/netzwelt/netzpolitik/0,1518,768071,00.html

I looks like the journalists writing for Spiegel Online have taken a like in Bitcoin. This is the 4th article published in not even 2 weeks. It does have some minor flaws (e.g. the mtgox peak price was somewhere around $31.5 instead of $29 as described in the article), but in general it's pretty neutral, maybe even slightly supportive.

I'm always buying and selling BTC, PM me for details. Rating and GPG-key: http://is.gd/yossarian

Buy and sell BTC via SEPA: https://www.bitcoin.de/r/nrnxg6

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zef
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June 11, 2011, 08:23:50 PM
 #693

putting his life savings into bitcoin
http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/
zef
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June 11, 2011, 08:34:42 PM
 #694

positive debunking of common austrian complaints against bitcoin
http://www.libertariannews.org/2011/06/06/libertarian-goldbugs-hating-on-bitcoin-free-market-money/
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June 11, 2011, 09:01:25 PM
 #695

What!?



http://finance.yahoo.com/banking-budgeting/article/112907/bitcoin-triples-again-smartmoney

Gun accessories - www.shamblindistribution.com

My list of sites giving away btc - http://davidshamblin.com/bitcoin/free-bitcoins/
JeanLucPicard
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June 11, 2011, 09:14:47 PM
 #696


Awesome article!
flug
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June 11, 2011, 09:20:37 PM
 #697


I wonder if he's done it yet
molecular
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June 11, 2011, 10:57:48 PM
 #698

Gold's initial "use value"? was a lot more than that. Gold has over a dozen properties that make it an excellent store of value over other resources. One of them being durability. How durable is a hard drive?
A bitcoin wallet can be made quite durable by distributing an encrypted copy to many places. You can even extract the keys and print them (maybe also encrypted) on a piece of paper... or carve them in gold Wink

Maybe not as durable as gold, but durable enough, I'd say.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
Vladimir
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June 11, 2011, 11:09:35 PM
 #699

also unlike gold bitcoin can be 'teleported' over the internet, can be made to be very difficult to find with metal detector, more compact, easier to measure, more difficult to make tungsten fakes, more difficult to misreport amount of it stored at Fort Knox, if public accountability is required. Wow more than one thing goes in favour of bitcoin as compared to gold.

Gold has one thing going for it big time, though, it has many thousands year history as a store of value, definitely not a 2 year old high risk 'maybe fad', but highly speculative too nonetheless.


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timmo11
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June 11, 2011, 11:39:04 PM
 #700


One thing he has wrong is that "gold can be infinitely mined" - in fact there is talk that not only have we reached peak oil, we have reached peak gold.

What I find particularly ingenious about the Bitcoin system is that it mimics this whole cycle. In the beginning gold was easy to find in Australia. We are still producing but its much harder.
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