Gold collapsing. Bitcoin UP.

[RAJSALLIN]

here's the Wences video:  https://www.youtube.com/watch?v=NERAN-89j8M

^ Wences talk is an absolute must-watch. Can't believe I hadn't seen it 'till now. He's spot on about everything: history and purpose of money, properties of money, money as memory, gold's role until now, bitcoin replacing gold, perspective on reserve currencies, opinion that bitcoin is a store of value first, and that it's fundamental promise is as ideal money (not all the other bells and whistles that are so popular lately).

And ya gotta watch through the end of the (brief) comment period to see where he aptly dismisses alt-coins.

I've obviously been aware of Wences' resume since the first Xapo funding* was announced, but I now realize he's even more of an asset to bitcoin than I'd originally realized.

Anyways, thanks for the link cypher.


*sidenote: Xapo is the best-funded bitcoin company to date (~$40m total, IIRC), in case anyone didn't realize.

From the sounds of his talk, there's a chance he lurks this thread. Some of us predate him.

He says bitcoin is adding 100.000 new users per day. Is this is a commonly accepted number? Sounds extremely high if you ask me. Pretty sure the price wuld be significalntly higher if this was actually the case.

[1714221415]

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[heartastack]

here's the Wences video:  https://www.youtube.com/watch?v=NERAN-89j8M

^ Wences talk is an absolute must-watch. Can't believe I hadn't seen it 'till now. He's spot on about everything: history and purpose of money, properties of money, money as memory, gold's role until now, bitcoin replacing gold, perspective on reserve currencies, opinion that bitcoin is a store of value first, and that it's fundamental promise is as ideal money (not all the other bells and whistles that are so popular lately).

And ya gotta watch through the end of the (brief) comment period to see where he aptly dismisses alt-coins.

I've obviously been aware of Wences' resume since the first Xapo funding* was announced, but I now realize he's even more of an asset to bitcoin than I'd originally realized.

Anyways, thanks for the link cypher.


*sidenote: Xapo is the best-funded bitcoin company to date (~$40m total, IIRC), in case anyone didn't realize.

From the sounds of his talk, there's a chance he lurks this thread. Some of us predate him.

He says bitcoin is adding 100.000 new users per day. Is this is a commonly accepted number? Sounds extremely high if you ask me. Pretty sure the price wuld be significalntly higher if this was actually the case.

LoL! Sounds like immense bullshit (100k per day>>>!!!).

[cypherdoc]

housing ETF XHB has clearly rolled over.  the major homebuilders like MTH, TOL, KBH, PHM, HOV, etc are down in a funk.  they all topped in February. that's not good for the homeowner:

[cypherdoc]

Keep pushing!

[cypherdoc]

simply follow the money.  who does this policy benefit?:

https://firstlook.org/theintercept/2014/08/26/fun-empire-fighting-sides-war

[cypherdoc]

mortgages are still the main component of household debt:



http://www.newyorkfed.org/householdcredit/2013-Q4/HHDC_2013Q4.pdf

[cypherdoc]

gold bounces off what was once support and is now resistance:

[Adrian-x]

Looking at the chart above the total consumer debt is about 12 trillion. A thought that comes to mind is the total QE balance comparable in size?

If it's remotely comparable in size then it looks as if the banks got a free card to collect interest on money they created and use that money to inflate asset prices and then have us the taxpayer guarantees the loans with QE.

[unpure]

gold bounces off what was once support and is now resistance:

Chart looks like it is in tight trading range like what btc is experiencing lately.

Swing traders and scrappers profit the most in period like this.

[NewLiberty]

Looking at the chart above the total consumer debt is about 12 trillion. A thought that comes to mind is the total QE balance comparable in size?

If it's remotely comparable in size then it looks as if the banks got a free card to collect interest on money they created and use that money to inflate asset prices and then have us the taxpayer guarantees the loans with QE.

Add capital gains to the mix, and the inflated prices cycle back money to the treasury.
Its the best racket in the game.  Its almost like cheating, being the bank.

[cypherdoc]

Looking at the chart above the total consumer debt is about 12 trillion. A thought that comes to mind is the total QE balance comparable in size?

If it's remotely comparable in size then it looks as if the banks got a free card to collect interest on money they created and use that money to inflate asset prices and then have us the taxpayer guarantees the loans with QE.

Add capital gains to the mix, and the inflated prices cycle back money to the treasury.
Its the best racket in the game.  Its almost like cheating, being the bank.

the money used to back stop the financial sector during 2008 could easily have been deployed to pay off every single underwater mortgage in the US.  Geithner, Paulson, Bernanke had a choice and they chose to bail out their bosses on Wall St instead.

[NewLiberty]

mortgages are still the main component of household debt:



http://www.newyorkfed.org/householdcredit/2013-Q4/HHDC_2013Q4.pdf

Student loans the fastest growing debt.
They are getting them younger.
The education can't be taken away, but you also can't pass it on to your heirs.
It is as ephemeral as it is inalienable.

[cypherdoc]

got these suckers on the run.  leverage UP!:

[justusranvier]

Student loans the fastest growing debt.
They are getting them younger.
The education can't be taken away, but you also can't pass it on to your heirs.
It is as ephemeral as it is inalienable.

worse than that, college provides students with schooling, not education.

Any education may occur is purely accidental and contrary to the goal of producing well-schooled students.

[cypherdoc]

look the hell out gold & silver:

[cypherdoc]

Student loans the fastest growing debt.
They are getting them younger.
The education can't be taken away, but you also can't pass it on to your heirs.
It is as ephemeral as it is inalienable.

worse than that, college provides students with schooling, not education.

Any education may occur is purely accidental and contrary to the goal of producing well-schooled students.

not dischargeable in BK either

[smoothie]

Gold Dealer Drops Credit Card Payments For Bitcoin

http://techcrunch.com/2014/08/25/gold-dealer-drops-credit-card-payments-for-bitcoin/

I see they accept litecoin also based on their checkout system.  

[smoothie]

Student loans the fastest growing debt.
They are getting them younger.
The education can't be taken away, but you also can't pass it on to your heirs.
It is as ephemeral as it is inalienable.

worse than that, college provides students with schooling, not education.

Any education may occur is purely accidental and contrary to the goal of producing well-schooled students.

Agreed.

They don't teach students to think for themselves and to question authority and what is being taught to them so they can come to their own conclusions.

[NewLiberty]

here's the Wences video:  https://www.youtube.com/watch?v=NERAN-89j8M

^ Wences talk is an absolute must-watch. Can't believe I hadn't seen it 'till now. He's spot on about everything: history and purpose of money, properties of money, money as memory, gold's role until now, bitcoin replacing gold, perspective on reserve currencies, opinion that bitcoin is a store of value first, and that it's fundamental promise is as ideal money (not all the other bells and whistles that are so popular lately).

And ya gotta watch through the end of the (brief) comment period to see where he aptly dismisses alt-coins.

I've obviously been aware of Wences' resume since the first Xapo funding* was announced, but I now realize he's even more of an asset to bitcoin than I'd originally realized.

Anyways, thanks for the link cypher.


*sidenote: Xapo is the best-funded bitcoin company to date (~$40m total, IIRC), in case anyone didn't realize.

From the sounds of his talk, there's a chance he lurks this thread. Some of us predate him.

Its funny that.  XBT-card.com has more code in the bag + patents approved (not pending), but not the funding.  They should partner, or something.

[cypherdoc]

Discus @ 22% with ghash @ 21%.  Free market discipline at work!