I just cashed out my lot of Bitcoins for Gold. Here's why.

[lophie]

Here is your proof, I just sent a Bitcoin to 1BitcoinDiesWithSHA256As0f09062013 and will spend it in less than 24 hours. That would mean that I successfully broken up SHA256.

I will give you all 24 hours to sell all bitcoins and avoid a major loss.

- Lophie

Timer removed. End time: 2013-06-10+3:00:00UTC

Nice try, but even if that was a valid address, it is not SHA256 that secures coins.  It only is used to confirm blocks, not to sign transactions.

Dude -_-!, Go along with a nice joke when you find one, I wanted Elmer FUD to have a good "I told you so" moment before we all pee on him with laughter and shrugs.

[NewLiberty]

Can you provide a source that demonstrates your claim that interest in bonds from entities other than the Fed is falling?  I'm not saying it's incorrect, I've just not seen any evidence.

The data is here:
http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/tressect.txt
From the US Treasury.

The monthly variation has a fairly high beta compared to 12 month rolling, of course.

[NewLiberty]

Here is your proof, I just sent a Bitcoin to 1BitcoinDiesWithSHA256As0f09062013 and will spend it in less than 24 hours. That would mean that I successfully broken up SHA256.

I will give you all 24 hours to sell all bitcoins and avoid a major loss.

- Lophie

Timer removed. End time: 2013-06-10+3:00:00UTC

Nice try, but even if that was a valid address, it is not SHA256 that secures coins.  It only is used to confirm blocks, not to sign transactions.

Dude -_-!, Go along with a nice joke when you find one, I wanted Elmer FUD to have a good "I told you so" moment before we all pee on him with laughter and shrugs.

The subtle humor of the address was a delight. and the count-down is precious.
Thank you for that.  
Another tax on people bad at math is Darwin's 21's century gift to the cognizant delivered by santa l0phie.

[lophie]

l0phie.

 , I am cryptolarious.

[Westphalian]

Short-term:

- Things are crashing hard this Summer. The media bubble has faded. We might see ourselves at $80 again. Even $30.

Long-term:

- Gold is going to recover. Hidden economic trouble is brewing. 'nuff said.

- The NSA has full control of Bitcoin through holes in SHA-256 and DSA that the mass of the public has yet to find. The whole blockchain might find itself worthless within the decade.

It was fun but Bitcoin is going to need a judgement day before cryptocurrency can become mainstream.

Here's my prediction: Bitcoin is going to be blown apart. The price will go to zero by 2020.

To those looking at this from the future: I told you so.

If you believe this then I have a previously unknown impossible to mass-produce quantum computer to sell you.

[manfred]

Straight question on OP: Are you Satoshi? (Revelation 22:13)

[jubalix]

Short-term:

- Things are crashing hard this Summer. The media bubble has faded. We might see ourselves at $80 again. Even $30.

Long-term:

- Gold is going to recover. Hidden economic trouble is brewing. 'nuff said.

- The NSA has full control of Bitcoin through holes in SHA-256 and DSA that the mass of the public has yet to find. The whole blockchain might find itself worthless within the decade.

It was fun but Bitcoin is going to need a judgement day before cryptocurrency can become mainstream.

Here's my prediction: Bitcoin is going to be blown apart. The price will go to zero by 2020.

To those looking at this from the future: I told you so.

no maths to back up sha 256 claim

*ignore*

[molecular]

Here is your proof, I just sent a Bitcoin to 1BitcoinDiesWithSHA256As0f09062013 and will spend it in less than 24 hours. That would mean that I successfully broken up SHA256.

I will give you all 24 hours to sell all bitcoins and avoid a major loss.

- Lophie

Timer removed. End time: 2013-06-10+3:00:00UTC

congrats for making me check. good troll tolls well.

[lophie]

Here is your proof, I just sent a Bitcoin to 1BitcoinDiesWithSHA256As0f09062013 and will spend it in less than 24 hours. That would mean that I successfully broken up SHA256.

I will give you all 24 hours to sell all bitcoins and avoid a major loss.

- Lophie

Timer removed. End time: 2013-06-10+3:00:00UTC

congrats for making me check. good troll tolls well.

gonna make a dedicated thread for this now.

[lophie]

Here is your proof, I just sent a Bitcoin to 1BitcoinDiesWithSHA256As0f09062013 and will spend it in less than 24 hours. That would mean that I successfully broken up SHA256.

I will give you all 24 hours to sell all bitcoins and avoid a major loss.

- Lophie

Timer removed. End time: 2013-06-10+3:00:00UTC

congrats for making me check. good troll tolls well.

gonna make a dedicated thread for this now.

posted, It might shake a few noobs but I hope it wont escalate to getting my account banned

[RodeoX]

 trouble is brewing. 'nuff said.

- The NSA has full control of Bitcoin through holes in SHA-256 and DSA that the mass of the public has yet to find. The whole blockchain might find itself worthless within the decade.

Awesome, we have someone on the inside! So, which division of the NSA do you work for? It must be a leadership position to know what you know! Tell us how you know.

... "History" channel?

[smoothie]

OP that isn't a bad move, but....

the fundamentals have not changed.

GOLD SUPPLY > BITCOIN SUPPLY



Bitcoin will inevitably hit parity and surpass the price of gold as there is less bitcoins for fiat to chase than there is gold.

[BitCoinNewGuy]

I cashed out some BitCoin for Gold too yesterday with a friend, I just hope Coinabul comes through...

[Elwar]

At least you are not buying dollars with your bitcoins.

My prediction is that by August the dollar will be half the value it is today. Though it may take some time for that value drop to be noticed as it spreads throughout the economy. But it will be felt.

How is that going to happen with a long term trend reversal forming on all major stock indices?  When stocks go down, the dollar rises.

What could possibly trigger hyperinflation at this point in time?

The Federal Reserve is currently buying 73% of Treasury Notes, which are used to print money for the Federal Reserve who turns around and buys 74% of Treasury Notes which are used to print money for the Federal Reserve who turns around and buys 75% of Treasury Notes...etc...

It is estimated that at the current rate, the Federal Reserve will be buying 100% of Treasury Notes by mid July.

What this means is that no other country is willing to buy our debt. The only way our debt can be funded at that point is from printing money. Printing enough money to fund our government means the value of our currency will go down by that much on a daily basis.

It will not be pretty.

Even if the Federal Reserve stops buying our Treasury Notes...we only have 27% of the customers we used to have. In order to entice the other 73% into buying we have to sell cheap. Or jack up the interest paid on our debt.

Can you provide a source that demonstrates your claim that interest in bonds from entities other than the Fed is falling?  I'm not saying it's incorrect, I've just not seen any evidence.

Here is an article about it...I believe the source requires a paid subscription.
http://lewrockwell.com/sardi/sardi261.html

[Gabi]

Selling now is like people who sold at 2$ after the 2011 bubble that peaked at 32$

When bitcoin went to 2$ they were like "omg bitcoin going to 0, sell sell sell"

Instead, it was the perfect time to buy, and then after two years, from 2 to 266. 

[Frozenlock]

Selling now is like people who sold at 2$ after the 2011 bubble that peaked at 32$

Lol!

No.

[Revelation 22:13]

http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

[lophie]

http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

You do know that the most important source of power is the image right? Not necessarily to actually have power.

[AliceWonder]

If Bitcoins and the internet were to collapse then Gold would be right there right it. Gold is shiny and all, but just as much perceived value as Bitcoin/money.

Gold has industrial uses. Bitcoin doesn't.

[CanadianGuy]

If Bitcoins and the internet were to collapse then Gold would be right there right it. Gold is shiny and all, but just as much perceived value as Bitcoin/money.

Gold has industrial uses. Bitcoin doesn't.

I highly doubt that most investors who buy gold are planning to install high conductive wiring anytime soon.  Most of them are in it because of speculative value for a return..