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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1808019 times)
cypherdoc
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August 25, 2014, 07:47:27 PM
 #11161



My own father is so mentally tied to the FED that I'm not even sure how to even bring Bitcoin up as a discussion topic with him without a crazy negative reaction. This mindset was drilled into him by his parents who lived through FDR's re-education.

why should it be so hard now that the Fed semi-regularly talks about Bitcoin?  show him the positive statements in their report from the Spring.  he can't argue with a published document from them.

then show him Kochlakota's Money as Memory paper and then the Bitcoin is Memory paper.
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rocks
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August 25, 2014, 07:56:17 PM
 #11162

then show him Kochlakota's Money as Memory paper

Only had time to skim the conclusions right now, but this looks to be a fascinating read and I'm very much looking forward to it. Thank you for sharing. Any other recommendations on reading?
adamstgBit
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August 25, 2014, 08:00:07 PM
 #11163

also show him http://www.businessinsider.com/ben-bernanke-on-bitcoin-2013-11



how is bitcoin not at 10K i dont get it.

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August 25, 2014, 08:03:04 PM
 #11164

10 yr chart:  what of volume on the Dow?  terrible:



its not like the gov is going to DUMP all its shares

do they plan to hold on to them forever?

new highs ahead for DOW, because fake!

cypherdoc
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August 25, 2014, 08:16:52 PM
 #11165

then show him Kochlakota's Money as Memory paper

Only had time to skim the conclusions right now, but this looks to be a fascinating read and I'm very much looking forward to it. Thank you for sharing. Any other recommendations on reading?

well, like i said Kocherlakota's paper dovetails with this:  http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2275730
cypherdoc
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August 25, 2014, 08:19:01 PM
 #11166

then show him Kochlakota's Money as Memory paper

Only had time to skim the conclusions right now, but this looks to be a fascinating read and I'm very much looking forward to it. Thank you for sharing. Any other recommendations on reading?

here's the Wences video:  https://www.youtube.com/watch?v=NERAN-89j8M
cypherdoc
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August 25, 2014, 08:34:49 PM
 #11167

i seriously don't understand who these ppl think they are:

"The search tool was designed to be the largest system for internally sharing secret surveillance records in the United States, capable of handling two to five billion new records every day, including more than 30 different kinds of metadata on emails, phone calls, faxes, internet chats, and text messages, as well as location information collected from cellphones. Metadata reveals information about a communication—such as the “to” and “from” parts of an email, and the time and date it was sent, or the phone numbers someone called and when they called—but not the content of the message or audio of the call."

https://firstlook.org/theintercept/article/2014/08/25/icreach-nsa-cia-secret-google-crisscross-proton/
cypherdoc
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August 25, 2014, 08:55:30 PM
 #11168

i seriously don't understand who these ppl think they are:

"The search tool was designed to be the largest system for internally sharing secret surveillance records in the United States, capable of handling two to five billion new records every day, including more than 30 different kinds of metadata on emails, phone calls, faxes, internet chats, and text messages, as well as location information collected from cellphones. Metadata reveals information about a communication—such as the “to” and “from” parts of an email, and the time and date it was sent, or the phone numbers someone called and when they called—but not the content of the message or audio of the call."

https://firstlook.org/theintercept/article/2014/08/25/icreach-nsa-cia-secret-google-crisscross-proton/

cypherdoc
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August 25, 2014, 08:59:18 PM
 #11169

https://twitter.com/cypherdoc2/status/504010024554074112
iCEBREAKER
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August 25, 2014, 09:13:54 PM
 #11170



OMG, that's a Brain Bug from Starship Troopers!  Cute when babies, but don't let them pick your brain or talk to you about Behemecoatyl.



Speaking of the Arachnid Empire's Marxist critique of commodification, let's reflect on the role of Real Estate ETFs, REITs, and REIT ETFs in the housing bubble. 

When the Winki BTC ETF goes live and starts sucking up BTC/IRA/institutional funds, will the impact be more like that of GLD/SLV on metals or Mortgage Backed Securities, etc. on real estate?

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  David Chaum 1996
Fungibility provides privacy as a side effect.  Adam Back 2014
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Wallets - Podcats - Roadmap - Dice - Blackjack - Github - Android }


Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016
Blocks must necessarily be full for the Bitcoin network to be able to pay for its own security.  davout 2015
Blocksize is an intentionally limited resource, like the 21e6 BTC limit.  Changing it degrades the surrounding economics, creating negative incentives.  Jeff Garzik 2013


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I'm not against people making money, but can't support questionable origins."
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It is an Engineering Requirement that Bitcoin be “Above the Law”  Paul Sztorc 2015
Resiliency, not efficiency, is the paramount goal of decentralized, non-state sanctioned currency -Jon Matonis 2015

Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016

Technology tends to move in the direction of making surveillance easier, and the ability of computers to track us doubles every eighteen months. - Phil Zimmerman 2013

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cypherdoc
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August 25, 2014, 09:24:08 PM
 #11171

When the Winki BTC ETF goes live and starts sucking up BTC/IRA/institutional funds, will the impact be more like that of GLD/SLV on metals or Mortgage Backed Securities, etc. on real estate?

the former
cypherdoc
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August 25, 2014, 09:31:06 PM
 #11172

“South Korea has a booming e-commerce market and was an early adopter of virtual goods. The government supports innovation and even the banking foundation is invested in Korbit."

http://techcrunch.com/2014/08/25/korean-bitcoin-exchange-korbit-raises-3m-series-a/?ncid=twittersocialshare
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August 25, 2014, 09:58:11 PM
 #11173

“South Korea has a booming e-commerce market and was an early adopter of virtual goods. The government supports innovation and even the banking foundation is invested in Korbit."

http://techcrunch.com/2014/08/25/korean-bitcoin-exchange-korbit-raises-3m-series-a/?ncid=twittersocialshare

I keep wondering when South Korea is going to help bitcoin bubble again like China did back in November.  There are some VERY wealthy South Koreans and investors, just a wealthy as many Chinese.  Gangnam anyone?
ErisDiscordia
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August 25, 2014, 10:40:06 PM
 #11174

"interestingly, if Bitcoin only holds steady from here, i will have done better than him.

edit: for alot less work and headache. such is the power of the network effect of money."

Cypherdoc, because he is/was an astute investor, and given his son in law can advise him better than most about btc, what percentage of his portfolio is now invested in bitcoins?


he's too old and set in his ways as an immigrant.  he, unfortunately, could never begin to understand Bitcoin.

he never listened to me about gold so i've never talked to him about Bitcoin.  he does see that gold could've been good for him, though, at the time.  but now it's too late for that game.

sounds similar to my own parents. They both have a degree in economics, but I never could get them to invest in gold - which I've been telling them to do since 2007 (hey I'm young..). They'd rather have all of their money in banks. Go figure, but that's how bad "education" in economics messes up your judgement. This is why I don't even bother to talk to them about Bitcoin. And I talk about Bitcoin to everyone. I'm just waiting for the day when they finally ask me if I heard about this Bitcoin-thing (which I expect will occur once the price is an order of magnitude or so higher than today).

It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
cypherdoc
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August 25, 2014, 11:18:04 PM
 #11175

"interestingly, if Bitcoin only holds steady from here, i will have done better than him.

edit: for alot less work and headache. such is the power of the network effect of money."

Cypherdoc, because he is/was an astute investor, and given his son in law can advise him better than most about btc, what percentage of his portfolio is now invested in bitcoins?


he's too old and set in his ways as an immigrant.  he, unfortunately, could never begin to understand Bitcoin.

he never listened to me about gold so i've never talked to him about Bitcoin.  he does see that gold could've been good for him, though, at the time.  but now it's too late for that game.

sounds similar to my own parents. They both have a degree in economics, but I never could get them to invest in gold - which I've been telling them to do since 2007 (hey I'm young..). They'd rather have all of their money in banks. Go figure, but that's how bad "education" in economics messes up your judgement. This is why I don't even bother to talk to them about Bitcoin. And I talk about Bitcoin to everyone. I'm just waiting for the day when they finally ask me if I heard about this Bitcoin-thing (which I expect will occur once the price is an order of magnitude or so higher than today).

you don't need to talk to them about it but at least let them know you've been involved since whenever.

that might actually pique their interest to consult with you the next time they inevitably read about it.
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August 25, 2014, 11:46:19 PM
 #11176

Decided I'll sell 50% of my gold tomorrow and buy 4-5 BTC with the cash  Grin

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cypherdoc
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August 25, 2014, 11:50:32 PM
 #11177

Decided I'll sell 50% of my gold tomorrow and buy 4-5 BTC with the cash  Grin

current futures price.  down $2:

Cortex7
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August 25, 2014, 11:52:07 PM
 #11178

Decided I'll sell 50% of my gold tomorrow and buy 4-5 BTC with the cash  Grin

I think you will be positioned well, if you can hit BTC top then you will be sitting pretty on even more gold in some months. Good luck!

cypherdoc
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August 26, 2014, 12:08:43 AM
 #11179

Gold Dealer Drops Credit Card Payments For Bitcoin

http://techcrunch.com/2014/08/25/gold-dealer-drops-credit-card-payments-for-bitcoin/
cypherdoc
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August 26, 2014, 12:09:17 AM
 #11180

Decided I'll sell 50% of my gold tomorrow and buy 4-5 BTC with the cash  Grin

I think you will be positioned well, if you can hit BTC top then you will be sitting pretty on even more gold in some months. Good luck!

the good news is i think he's hitting a BTC bottom.
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