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Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2022643 times)
Melbustus
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August 20, 2014, 02:45:55 AM
 #10841




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

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cypherdoc
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August 20, 2014, 03:27:41 AM
 #10842

https://twitter.com/cypherdoc2/status/501933480511811586
vuduchyld
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August 20, 2014, 03:42:45 AM
 #10843

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
 #10844

anyone know how to get a hold of Mike Hearns?
vuduchyld
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August 20, 2014, 03:49:08 AM
 #10845

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
 #10846

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
 #10847

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.

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dishwara
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August 20, 2014, 07:19:21 AM
 #10848


Where you get the graph?

Open Altcoin Github
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User705
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August 20, 2014, 07:43:27 AM
 #10849

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
 #10850

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
 #10851

BTC is a safer bet than gold imo
rpietila
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August 20, 2014, 11:24:21 AM
 #10852

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
 #10853

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
 #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:



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
 #10855

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
 #10856

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.

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cypherdoc
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August 20, 2014, 01:09:15 PM
 #10857

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
 #10858

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
 #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:



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.
Microbit001
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August 20, 2014, 01:21:08 PM
 #10860

Never cared about gold prices, its very stable.

BTC rising is what everyone wishes  Wink
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