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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1955978 times)
Melbustus
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August 20, 2014, 02:44:56 AM
 #10841


1. How am I harming anyone? I only give my opinion and look at the facts. People can make their own decision. So thank you for trying to make me out to be someone who is harming anyone at all. Please get that straight buddy.


Whoa, I never said your intentions weren't good/honest! Unfortunately that doesn't mean harm can't be done. I believe it's harmful to the crypto-ecosystem in general to push alts that offer nothing meaningful over bitcoin. It's a distraction, it muddies the waters for newbies, it makes the the entire concept of digital money look, on the surface, like a circus to MANY in mainstream media and finance, and ultimately I think a lot of people are going to lose money because of it and therefore be left with a bad taste about crypto in general. That's bad for all of us.

Apologies for coming off as if I was accusing you of *intentionally* harming anything. I was not.





2. Your bet is in my view so far out that no one knows where things will be ~5 years from now. Plus i'm not to take long term bets as it isn't my style. If you know and appreciate what I've done on the forums then you will see I've successfully won several bets and made several really good calls so my betting you proves nothing other than that I would stoop to your level, not to mention the false accusations you made above about me "harming" people.


If you had a thing in general against taking bets, I can see how you'd consider it stooping, but since you apparently DO take bets, I don't follow. Whatever.




3. Take a look back at my 2.75 year comparison and tell me I am not wrong on the values I gave you based on my own knowledge of the price action.

WE are on the same side but obviously we disagree on a "fair" metric of comparing BTC and LTC. There really isn't much else to say but the fact that you have your points and I have mine.

Oh and there is a huge difference in what you rephrased your sentence to mean in your original post above than what it actually said. We are comparing Bitcoin and Litecoin...not its supporters and how much they "fought" to do such and such. Please stay on the debated topic as BTC and LTC both do not have the consciousness to fight nor anything else besides what it was designed to do. So don't kid yourself there in your argument there.


I still don't see how you're saying anything different, or how my rephrase fundamentally changed any meaning. I stand by my statements.




Who knows the future of BTC or LTC? No one. But I can say one thing for sure that crypto currency/digital currency is not going to be going away and to believe that only ONE will exist or be "successful" is your own opinion.


I've never said only ONE will exist or be successful. I believe the market will ultimately converge to several (under 10, probably fewer than 5) having significant market-cap relative to the leading crypto. You can look through my post history if you want - IIRC, I tried to quantify this more precisely relatively recently.



...
Obviously we all will at some time disagree on points and beliefs of what will happen in the future but to make accusations that are unmerited is just childish.


I think you took my "harm" statement way too personally. Again, apologies for that.




As with Cypher I do not agree with everything he has to say but he does have some good points which is why I am a big supporter of his despite my past with him which is in the past.  Wink

I am going to drop the topic as obviously the debate went off course from simply BTC and LTC and now is on to ...its supporters and how they fought blah blah blah. lol ....See what I did there?  Roll Eyes

It's actually not off-topic. The alt situation is a *key* reason why many gold-bugs think bitcoin is ridiculous. I suppose the silver-lining is that until the alt market converges to rationality, more money will stay out of bitcoin, giving us all a little longer to accumulate. :/



TL;DR - comparing Bitcoin and litecoin is not the same as comparing Bitcoin's supporters to litecoin's and how they helped pave the way.

/enddebate

<reopendebate>
TL;DR - Litecoin rode bitcoin's coat-tails while people misunderstood that tweaking blocktime, supply, and mining alg are immaterial long-run. Now people are a little wiser and litecoin is therefore diverging downward relative to bitcoin.
</reopendebate>

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Melbustus
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August 20, 2014, 02:45:55 AM
 #10842




Great chart. Would make it my avatar if I could.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
cypherdoc
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August 20, 2014, 03:27:41 AM
 #10843

https://twitter.com/cypherdoc2/status/501933480511811586
vuduchyld
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August 20, 2014, 03:42:45 AM
 #10844

yeah baby; Overstock goes international!:

Accepting Bitcoin could make international payments easier for companies because it eliminates the need for currency translation. That, coupled with lower payment processing fees associated with digital money, could result in savings for retailers and consumers of up to 8 percent, Mr. Luria said.


http://dealbook.nytimes.com/2014/08/19/overstock-to-allow-international-customers-to-pay-in-bitcoin/?_php=true&_type=blogs&_php=true&_type=blogs&_r=1&

Wow...EIGHT percent?  My guess is that most retailers don't have an 8% net profit margin.  That's seriously significant!
cypherdoc
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August 20, 2014, 03:44:32 AM
 #10845

anyone know how to get a hold of Mike Hearns?
vuduchyld
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August 20, 2014, 03:49:08 AM
 #10846

This guy? https://www.linkedin.com/profile/view?id=20354660&authType=OPENLINK&authToken=dy-m&locale=en_US&srchid=18634521408506500851&srchindex=1&srchtotal=12&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A18634521408506500851%2CVSRPtargetId%3A20354660%2CVSRPcmpt%3Aprimary
cypherdoc
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August 20, 2014, 04:29:53 AM
 #10847

meanwhile, the USD index $DXY continues it's breakout to the upside.  no wonder gold and silver are suffering.  question is: will Bitcoin continue to suffer as well?

NewLiberty
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August 20, 2014, 04:37:41 AM
 #10848

I think you took my "harm" statement way too personally. Again, apologies for that.
"unintended consequences" might have been closer to your meaning?
These are difficult to avoid.
One thing is certain, the only way to do nothing wrong is to do nothing. so the effort should be appreciated.

LTC is/was the backstop for BTC, just in case, and may have fixed some of the early problems.  It provided the test bed for some new ideas and showed the way for other experimentation.
It will always have a place in my heart for that, even if someday not in my wallet.
We gain little from fighting each other, especially when there are so many outside our little world that would do that for us.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
dishwara
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August 20, 2014, 07:19:21 AM
 #10849


Where you get the graph?

BitSend ◢◤Clients | Source
www.bitsend.info
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Your Digital Network | 10MB Blocks
Algo: XEVAN | DK3 | Masternodes
Bitcore - BTX/BTC -Project












BSD -USDT | Bittrex | C.Gather | S.Exchange
Cryptopia | NovaExchange | Livecoin
CoinPayments | Faucet | Bitsend Airdrop













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User705
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August 20, 2014, 07:43:27 AM
 #10850

get the hell outta my way.  seriously:



This chart keeps amazing me. It's just... I mean... where will it end?

Fuck Moore, we're doubling every 2.5 months.



It's more like doubling every 1-1.5months avg over the past year, isn't it? If it's really 2.5mo, I may have some new asicminer equipment to buy...
Wait until it's closer to production costs.  It's getting there.
rpietila
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August 20, 2014, 08:15:39 AM
 #10851

The alt situation is a *key* reason why many gold-bugs think bitcoin is ridiculous.

The commodities market is a *key* reason why many fiat-bugs think gold is ridiculous.
NWO
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August 20, 2014, 11:14:25 AM
 #10852

BTC is a safer bet than gold imo
rpietila
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August 20, 2014, 11:24:21 AM
 #10853

BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.
Lowryder
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August 20, 2014, 12:49:25 PM
 #10854

BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.

Would you rather take 30 of these:

http://www.usacoinbook.com/us-coins/gold-bar-1-kilo.jpg

Or 2700BTC?

If you cant take anything in between?
cypherdoc
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August 20, 2014, 01:04:30 PM
 #10855

BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.

Would you rather take 30 of these:



Or 2700BTC?

If you cant take anything in between?

I already made my choice and I'm sticking with it. 
Lowryder
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August 20, 2014, 01:05:48 PM
 #10856

BTC is a safer bet than gold imo

Did some math Smiley

Heres all the gold in the world:

http://demonocracy.info/infographics/world/gold/images/demonocracy-gold-all_gold_in_the_world-reserves-cube.jpg

All the Bitcoin ever mined is about 2,7 metres high cubic in gold current
Spot bid and BTC bid value.
Wekkel
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August 20, 2014, 01:07:53 PM
 #10857

BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.

Would you rather take 30 of these:



Or 2700BTC?

If you cant take anything in between?

2700 BTC if the current price is higher.

Gold safe bet is about 4x in the future (gold $5000) whereas Bitcoin still has at least 10x to go. It's about risk/reward.

Like this post? you can tip me (BTC) 18j7UBNfhWWfvwGwrtzWfUrp1v6RDerFkY or (XEM) NBXGH5-MXQPNL-T5TA3R-QCQYUX-3FIEXC-LGIKGT-H7XJ
cypherdoc
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August 20, 2014, 01:09:15 PM
 #10858

Beautiful recovery off the lows of the attempted sell-off from last night.

Buy hard.
Lowryder
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August 20, 2014, 01:16:12 PM
 #10859

BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.

Would you rather take 30 of these:

http://www.usacoinbook.com/us-coins/gold-bar-1-kilo.jpg

Or 2700BTC?

If you cant take anything in between?

2700 BTC if the current price is higher.

Gold safe bet is about 4x in the future (gold $5000) whereas Bitcoin still has at least 10x to go. It's about risk/reward.

But you can't really say. I personally own both. I see gold safest bet there is. BTC is still a mystery in long run. Have some just in case, but wont make a dent if BTC goes zero.
justusranvier
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August 20, 2014, 01:20:09 PM
 #10860

BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.

Would you rather take 30 of these:



Or 2700BTC?

If you cant take anything in between?

2700 BTC if the current price is higher.

Gold safe bet is about 4x in the future (gold $5000) whereas Bitcoin still has at least 10x to go. It's about risk/reward.

But you can't really say. I personally own both. I see gold safest bet there is. BTC is still a mystery in long run. Have some just in case, but wont make a dent if BTC goes zero.
Gold is an anchor that leaves you locked into a limited geographical area.

You can take 100% of your Bitcoin savings with you undetectably across any imaginary line on a map.
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