Bitcoin Forum
August 18, 2017, 02:39:38 PM *
News: Latest stable version of Bitcoin Core: 0.14.2  [Torrent].
 
   Home   Help Search Donate Login Register  
Poll
Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

Pages: « 1 ... 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 594 595 596 597 598 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 [629] 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 661 662 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 ... 1558 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1953461 times)
shields
Full Member
***
Offline Offline

Activity: 164


View Profile
September 23, 2014, 03:05:56 PM
 #12561

 but even major countries like Germany can't seem to get at their gold stores at the Fed when they want to.


I find this hilarious, as people claim we should have a crypto backed by gold, but it's clear how futile this idea is when even Germany's gold is not backed by gold it would seem. Backing is just a promise that may or may not be honored.

If you liked this post -> 1KRYhandiYsjecZw7mtdLnoeuKUYoGRkH4
1503067178
Hero Member
*
Offline Offline

Posts: 1503067178

View Profile Personal Message (Offline)

Ignore
1503067178
Reply with quote  #2

1503067178
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1503067178
Hero Member
*
Offline Offline

Posts: 1503067178

View Profile Personal Message (Offline)

Ignore
1503067178
Reply with quote  #2

1503067178
Report to moderator
1503067178
Hero Member
*
Offline Offline

Posts: 1503067178

View Profile Personal Message (Offline)

Ignore
1503067178
Reply with quote  #2

1503067178
Report to moderator
1503067178
Hero Member
*
Offline Offline

Posts: 1503067178

View Profile Personal Message (Offline)

Ignore
1503067178
Reply with quote  #2

1503067178
Report to moderator
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 03:09:58 PM
 #12562

https://twitter.com/jgarzik/status/514422905808359424
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 03:11:21 PM
 #12563

Peter Schiff still coming out very strongly against Bitcoin: https://www.youtube.com/watch?v=lMfoFlJhcck&list=UUIjuLiLHdFxYtFmWlbTGQRQ

No valid arguments in the whole thing, but it does show his mindset pretty clearly.

Quote from: Peter Schiff
If you're still holding these bitcoins, DO NOT GO DOWN WITH THE SHIP. Go to my gold company, Schiff Gold... if you've got 30 or 40 bitcoins you can buy a few ounces of gold. At some point you may not be able to buy a pack of chewing gum with those bitcoins.

LOL,

Keep in mind who is on the other side of that trade for our "chewing gum money".
(He is)

Doesn't he use Bitpay to convert bitcoins to fiat?

that's what he says.

the real question is whether you think he's as stupid as he sounds.
devphp
Sr. Member
****
Offline Offline

Activity: 336


View Profile
September 23, 2014, 03:13:55 PM
 #12564


Not sure why Jeff is so concerned about NXT if it's just a scamcoin, one of many others Smiley
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 03:14:46 PM
 #12565

so yes, the question remains, will BABA top tick the stock mkt?



sell it off baby, sell it off:



and yes, i do think we have an excellent chance at bottom ticking Bitcoin:

shields
Full Member
***
Offline Offline

Activity: 164


View Profile
September 23, 2014, 03:16:12 PM
 #12566

cypherdoc I think you're maybe even over-analyzing why dollars beat gold as money. I suspect all it took was a new generation born into dollars not backed by anything. I'm middle aged and never was under any illusion fiat was backed by anything as I grew up, I never even saw gold in coin or bullion form in person until I bought a couple coins last year. For me growing up gold as money was something only in history books. Fiat was what I saw, you earned it and you spent it. Since inflation is generally so gradual in 1st world countries you don't notice it, and take it for granted.

In summary, all it takes is for people that used gold as money to die off, and for dollars to be 'good enough' as money for the average person.

If you liked this post -> 1KRYhandiYsjecZw7mtdLnoeuKUYoGRkH4
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 03:31:06 PM
 #12567

cypherdoc I think you're maybe even over-analyzing why dollars beat gold as money. I suspect all it took was a new generation born into dollars not backed by anything. I'm middle aged and never was under any illusion fiat was backed by anything as I grew up, I never even saw gold in coin or bullion form in person until I bought a couple coins last year. For me growing up gold as money was something only in history books. Fiat was what I saw, you earned it and you spent it. Since inflation is generally so gradual in 1st world countries you don't notice it, and take it for granted.

In summary, all it takes is for people that used gold as money to die off, and for dollars to be 'good enough' as money for the average person.

that's clearly a factor as well as even i stated in this thread before.  the reasons are multifactorial no doubt.  this thread is long b/c there are lots of different ideas as to why it is happening and we are just trying to flush them all out in different ways and with different nuance.

i still think digital dollars and the speed with which they can be teleported to a crisis region to prevent massive dollar debt defaults is clearly a reason that enhances stability and recovery.  gold can really only go up when there is instability and fear.  whether you call it foul play, manipulation, or moral hazard doesn't matter.  the main point being that it has defeated any significant advancement in the gold price by stopping any normal gold flows b/c gold is just too slow.

furthermore, i still think this dollar digitalization, or dollar hegemony if you prefer, is causing deflation on a broader scale.  commodities continue to fall in price reflecting declining demand.  the lack of wage increases for the broader population makes things too expensive for most.  

how can Bitcoin help in deflation?  by bringing fairness and mathematics to the table and by removing corruption and a small, elitist group of counterfeiters.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 03:40:08 PM
 #12568

lots of squeeze potential:

shields
Full Member
***
Offline Offline

Activity: 164


View Profile
September 23, 2014, 04:08:14 PM
 #12569

cypherdoc I think you're maybe even over-analyzing why dollars beat gold as money. I suspect all it took was a new generation born into dollars not backed by anything. I'm middle aged and never was under any illusion fiat was backed by anything as I grew up, I never even saw gold in coin or bullion form in person until I bought a couple coins last year. For me growing up gold as money was something only in history books. Fiat was what I saw, you earned it and you spent it. Since inflation is generally so gradual in 1st world countries you don't notice it, and take it for granted.

In summary, all it takes is for people that used gold as money to die off, and for dollars to be 'good enough' as money for the average person.

that's clearly a factor as well as even i stated in this thread before.  the reasons are multifactorial no doubt.  this thread is long b/c there are lots of different ideas as to why it is happening and we are just trying to flush them all out in different ways and with different nuance.

i still think digital dollars and the speed with which they can be teleported to a crisis region to prevent massive dollar debt defaults is clearly a reason that enhances stability and recovery.  gold can really only go up when there is instability and fear.  whether you call it foul play, manipulation, or moral hazard doesn't matter.  the main point being that it has defeated any significant advancement in the gold price by stopping any normal gold flows b/c gold is just too slow.

furthermore, i still think this dollar digitalization, or dollar hegemony if you prefer, is causing deflation on a broader scale.  commodities continue to fall in price reflecting declining demand.  the lack of wage increases for the broader population makes things too expensive for most.  

how can Bitcoin help in deflation?  by bringing fairness and mathematics to the table and by removing corruption and a small, elitist group of counterfeiters.

Yeah the digital dollar was a significant improvement to 'dollar' technology. Fiat in general tended to gradually improve in other ways too over time  - smaller notes and coins, better counterfeit prevention etc, but the jump to digital - ATM machines, credit cards etc all helped push it further ahead of gold in practicality terms.

An interesting thought about the digital dollar though is that it helps the transition to crytpo. Kids growing up today will be used to digital money, they won't look on digital as a replacement for phsyical just as I didn't look at fiat as a replacement for gold - they'll grow up with the normality that digital balances on a screen are their money. The mental jump from digital fiat to digital cryptos is a small one from there.

If you liked this post -> 1KRYhandiYsjecZw7mtdLnoeuKUYoGRkH4
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 04:17:31 PM
 #12570

cypherdoc I think you're maybe even over-analyzing why dollars beat gold as money. I suspect all it took was a new generation born into dollars not backed by anything. I'm middle aged and never was under any illusion fiat was backed by anything as I grew up, I never even saw gold in coin or bullion form in person until I bought a couple coins last year. For me growing up gold as money was something only in history books. Fiat was what I saw, you earned it and you spent it. Since inflation is generally so gradual in 1st world countries you don't notice it, and take it for granted.

In summary, all it takes is for people that used gold as money to die off, and for dollars to be 'good enough' as money for the average person.

that's clearly a factor as well as even i stated in this thread before.  the reasons are multifactorial no doubt.  this thread is long b/c there are lots of different ideas as to why it is happening and we are just trying to flush them all out in different ways and with different nuance.

i still think digital dollars and the speed with which they can be teleported to a crisis region to prevent massive dollar debt defaults is clearly a reason that enhances stability and recovery.  gold can really only go up when there is instability and fear.  whether you call it foul play, manipulation, or moral hazard doesn't matter.  the main point being that it has defeated any significant advancement in the gold price by stopping any normal gold flows b/c gold is just too slow.

furthermore, i still think this dollar digitalization, or dollar hegemony if you prefer, is causing deflation on a broader scale.  commodities continue to fall in price reflecting declining demand.  the lack of wage increases for the broader population makes things too expensive for most.  

how can Bitcoin help in deflation?  by bringing fairness and mathematics to the table and by removing corruption and a small, elitist group of counterfeiters.

Yeah the digital dollar was a significant improvement to 'dollar' technology. Fiat in general tended to gradually improve in other ways too over time  - smaller notes and coins, better counterfeit prevention etc, but the jump to digital - ATM machines, credit cards etc all helped push it further ahead of gold in practicality terms.

An interesting thought about the digital dollar though is that it helps the transition to crytpo. Kids growing up today will be used to digital money, they won't look on digital as a replacement for phsyical just as I didn't look at fiat as a replacement for gold - they'll grow up with the normality that digital balances on a screen are their money. The mental jump from digital fiat to digital cryptos is a small one from there.

yes, and ApplePay just served to further legitimize that trend.  i find it interesting that they reopened their app store to Bitcoin wallets only 1-2 mo before their announcement.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 04:19:24 PM
 #12571

yay to the US of A!

Adrian-x
Legendary
*
Offline Offline

Activity: 1372



View Profile
September 23, 2014, 04:21:13 PM
 #12572

LOL,

Keep in mind who is on the other side of that trade for our "chewing gum money".
(He is)

Doesn't he use Bitpay to convert bitcoins to fiat?

that's what he says.

the real question is whether you think he's as stupid as he sounds.

It sounds to me like he is desperate to short gold. Not yet bull on Bitcoin.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
shields
Full Member
***
Offline Offline

Activity: 164


View Profile
September 23, 2014, 04:25:59 PM
 #12573

cypherdoc I think you're maybe even over-analyzing why dollars beat gold as money. I suspect all it took was a new generation born into dollars not backed by anything. I'm middle aged and never was under any illusion fiat was backed by anything as I grew up, I never even saw gold in coin or bullion form in person until I bought a couple coins last year. For me growing up gold as money was something only in history books. Fiat was what I saw, you earned it and you spent it. Since inflation is generally so gradual in 1st world countries you don't notice it, and take it for granted.

In summary, all it takes is for people that used gold as money to die off, and for dollars to be 'good enough' as money for the average person.

that's clearly a factor as well as even i stated in this thread before.  the reasons are multifactorial no doubt.  this thread is long b/c there are lots of different ideas as to why it is happening and we are just trying to flush them all out in different ways and with different nuance.

i still think digital dollars and the speed with which they can be teleported to a crisis region to prevent massive dollar debt defaults is clearly a reason that enhances stability and recovery.  gold can really only go up when there is instability and fear.  whether you call it foul play, manipulation, or moral hazard doesn't matter.  the main point being that it has defeated any significant advancement in the gold price by stopping any normal gold flows b/c gold is just too slow.

furthermore, i still think this dollar digitalization, or dollar hegemony if you prefer, is causing deflation on a broader scale.  commodities continue to fall in price reflecting declining demand.  the lack of wage increases for the broader population makes things too expensive for most.  

how can Bitcoin help in deflation?  by bringing fairness and mathematics to the table and by removing corruption and a small, elitist group of counterfeiters.

Yeah the digital dollar was a significant improvement to 'dollar' technology. Fiat in general tended to gradually improve in other ways too over time  - smaller notes and coins, better counterfeit prevention etc, but the jump to digital - ATM machines, credit cards etc all helped push it further ahead of gold in practicality terms.

An interesting thought about the digital dollar though is that it helps the transition to crytpo. Kids growing up today will be used to digital money, they won't look on digital as a replacement for phsyical just as I didn't look at fiat as a replacement for gold - they'll grow up with the normality that digital balances on a screen are their money. The mental jump from digital fiat to digital cryptos is a small one from there.

yes, and ApplePay just served to further legitimize that trend.  i find it interesting that they reopened their app store to Bitcoin wallets only 1-2 mo before their announcement.

They would not have released ApplePay if they did not think it could compete with and beat Bitcoin. And if they think that, then they feel that the wallet apps on the phone are not a threat to their ApplePay - it was bad PR and it was turning some of their users away, I guess they feel the trade off of allowing them is worth it.

If you liked this post -> 1KRYhandiYsjecZw7mtdLnoeuKUYoGRkH4
Adrian-x
Legendary
*
Offline Offline

Activity: 1372



View Profile
September 23, 2014, 04:34:01 PM
 #12574


yes, and ApplePay just served to further legitimize that trend.  i find it interesting that they reopened their app store to Bitcoin wallets only 1-2 mo before their announcement.

They would not have released ApplePay if they did not think it could compete with and beat Bitcoin. And if they think that, then they feel that the wallet apps on the phone are not a threat to their ApplePay - it was bad PR and it was turning some of their users away, I guess they feel the trade off of allowing them is worth it.

I don't use an I phone but was informed that the send payment function had to be disabled to qualify under the ToS, if that is still the case Apple obviously feel they can't compete on functionality.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
shields
Full Member
***
Offline Offline

Activity: 164


View Profile
September 23, 2014, 04:37:49 PM
 #12575


yes, and ApplePay just served to further legitimize that trend.  i find it interesting that they reopened their app store to Bitcoin wallets only 1-2 mo before their announcement.

They would not have released ApplePay if they did not think it could compete with and beat Bitcoin. And if they think that, then they feel that the wallet apps on the phone are not a threat to their ApplePay - it was bad PR and it was turning some of their users away, I guess they feel the trade off of allowing them is worth it.

I don't use an I phone but was informed that the send payment function had to be disabled to qualify under the ToS, if that is still the case Apple obviously feel they can't compete on functionality.

I suspect that's more related to Apple wanting a cut of payments made within apps, they must make a fortune from that with the amount of in-game purchasing going on in games these days.

If you liked this post -> 1KRYhandiYsjecZw7mtdLnoeuKUYoGRkH4
Adrian-x
Legendary
*
Offline Offline

Activity: 1372



View Profile
September 23, 2014, 04:48:08 PM
 #12576


yes, and ApplePay just served to further legitimize that trend.  i find it interesting that they reopened their app store to Bitcoin wallets only 1-2 mo before their announcement.

They would not have released ApplePay if they did not think it could compete with and beat Bitcoin. And if they think that, then they feel that the wallet apps on the phone are not a threat to their ApplePay - it was bad PR and it was turning some of their users away, I guess they feel the trade off of allowing them is worth it.

I don't use an I phone but was informed that the send payment function had to be disabled to qualify under the ToS, if that is still the case Apple obviously feel they can't compete on functionality.

I suspect that's more related to Apple wanting a cut of payments made within apps, they must make a fortune from that with the amount of in-game purchasing going on in games these days.

Sure they can sell Bitcoin too. I see a big difference when using an app to purchasing a real world product, IMO it is hardly comparable with an in app purchase, moreover it is in direct competition with applepay.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
_mr_e
Legendary
*
Offline Offline

Activity: 817



View Profile
September 23, 2014, 05:00:38 PM
 #12577

Wow, Just wow... Obvious hit piece is obvious: https://www.bbc.com/news/technology-29283124.

There used to be a video, not sure where it went.
iCEBREAKER
Legendary
*
Offline Offline

Activity: 1750


Support SEGWIT on 8/1/17 https://github.com/UASF


View Profile WWW
September 23, 2014, 05:17:39 PM
 #12578

it's really sad to listen to the die hard gold bugs frustration.  i can hear the heaviness and fatigue in Eric King's voice in all his interviews nowadays.  they are truly confused.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2014/9/21_Bill_Fleckenstein_files/Bill%20Fleckenstein%209%3A21%3A2014.mp3

I noticed the despair in poor Eric's voice months ago.  Sprott should give him a raise; he sounds like a broken man.   Sad

When Turd and Silver Doctor capitulate, it's time to buy while their blood flows down the street.

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  David Chaum 1996
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Core GUI - Podcats - Roadmap - Dice - Blackjack - Github - Android }
MoneroForCash.com  |  Buy and sell XMR near you  |  Easymonero.com  |  Bitsquare.io - Decentralized XMR Exchange  |  Buy XMR with fiat
Fungibility provides privacy as a side effect.  Adam Back 2014

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


The raison d'être of bitcoin is trustlessness. - Eric Lombrozo 2015
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

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 05:29:31 PM
 #12579

the black hole continues to suck anything and everything into it:

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 23, 2014, 05:46:34 PM
 #12580

here comes Paypal:

http://www.coindesk.com/paypal-announces-first-partnerships-bitcoin-space/
Pages: « 1 ... 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 594 595 596 597 598 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 [629] 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 661 662 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 ... 1558 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!