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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 1804715 times)
cypherdoc
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August 20, 2014, 03:27:41 AM
 #10861

https://twitter.com/cypherdoc2/status/501933480511811586
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vuduchyld
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August 20, 2014, 03:42:45 AM
 #10862

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
 #10863

anyone know how to get a hold of Mike Hearns?
vuduchyld
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August 20, 2014, 03:49:08 AM
 #10864

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
 #10865

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
 #10866

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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Truth may get delay, but NEVER fails


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August 20, 2014, 07:19:21 AM
 #10867


Where you get the graph?
User705
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August 20, 2014, 07:43:27 AM
 #10868

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
 #10869

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
 #10870

BTC is a safer bet than gold imo
rpietila
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August 20, 2014, 11:24:21 AM
 #10871

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
 #10872

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
 #10873

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
 #10874

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
 #10875

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) 1LGi2DMhectdFSkBid5srrnHk8WHgD3V1d or very WoW (Doge) D9p6FZQb1sKkq9hApy4tnjSduYfdnc74bb
cypherdoc
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August 20, 2014, 01:09:15 PM
 #10876

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
 #10877

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
 #10878

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
 #10879

Never cared about gold prices, its very stable.

BTC rising is what everyone wishes  Wink
cypherdoc
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August 20, 2014, 02:10:25 PM
 #10880

Never cared about gold prices, its very stable.

BTC rising is what everyone wishes  Wink

sort of.  of course i'll point to the drop from 1923 to now as counter argument.

but there is a boatload of theoretical reasons why Bitcoin is superior as i've tried to document in this thread ad nauseum.  if my message was untrue, this thread wouldn't be so popular.  yes, it's still debatable, but i see a trend in sentiment and price.
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