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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2010842 times)
cypherdoc
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October 13, 2014, 01:58:11 AM
 #13741

goldbugs: "oh shit".

“Decrease in prices should ideally prompt people to buy more gold. Those looking to invest in bitcoins at this time are defying the trend,” said Sivakameshwar Rao, CEO and MD of BTCX India. Mr. Rao said investors in Vijayawada, Visakhapatnam and Nellore are leading the pack. He said that while Bitcoin is yet to be adopted in a big way in India, the developments this year have been positive.

Adds G. Gurumohan Reddy, who too has been buying and selling bitcoins for about six months now, “We expect gold prices to go down further. So investing in gold is not an option. Bitcoins have the potential to appreciate in the present time. Besides, storage of gold is risky. Bitcoin is digital with a small storage risk,” he explained. 


http://www.thehindu.com/news/cities/Hyderabad/bitcoin-giving-gold-the-nudge/article6494031.ece?ref=sliderNews
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cbeast
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Let's talk governance, lipstick, and pigs.


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October 13, 2014, 02:10:32 AM
 #13742

It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
vuduchyld
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October 13, 2014, 02:38:02 AM
 #13743


It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.

Sounds like BCX re: XMR
cypherdoc
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October 13, 2014, 02:38:05 AM
 #13744

It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.

his arguments are riddled in contradictions.

i got him to say he will release his exploit code on Nov 4 in private pm's today, one year after his paper was published.

then, he can stop publicly stop speaking about it, as i am sure it will amount to nothing.
rocks
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October 13, 2014, 05:21:39 AM
 #13745

It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.

his arguments are riddled in contradictions.

i got him to say he will release his exploit code on Nov 4 in private pm's today, one year after his paper was published.

then, he can stop publicly stop speaking about it, as i am sure it will amount to nothing.

There really isn't much here. Their work focuses on a selfish miner attack, where a miner holds back on sending found blocks to keep others working on a stale chain. They then state that such miners will win more than their fair share of block rewards until they become the majority. (which itself is doubtful)

The problem with this is it assumes a selfish miner can get the rest of the network to accept their block that they withheld, but only released after they themselves received another's new honest block.

There are lots of problems with this. I remember a year ago when articles first published these claims that many people pointed out these problems in the comments section. They responsed to these comments by essentially saying "we're right you're wrong", but never actually addressing the implementation problems people raised.

Here was one of their "response" Q&A pages they later wrote. The level of discourse was lacking IMHO.
http://hackingdistributed.com/2013/11/05/faq-selfish-mining/

Notice this key issue many raise has no answer for some reason
 "This attack requires an attacker have good network position to get its blocks accepted."
Melbustus
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October 13, 2014, 08:01:53 AM
 #13746

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Cryptoasset rankings and metrics for investors: http://onchainfx.com
brg444
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Bitcoin replaces central, not commercial, banks


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October 13, 2014, 08:06:25 AM
 #13747

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

interesting insights, thanks for the link

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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October 13, 2014, 08:57:33 AM
 #13748

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

interesting insights, thanks for the link

Greed is Bitcoins killer app. Incentivising early adoption and evangelizing by early adopters bootstraps it and provides the necessary marketing.

If you liked this post -> 1KRYhandiYsjecZw7mtdLnoeuKUYoGRkH4
600watt
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October 13, 2014, 09:34:10 AM
 #13749

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

interesting insights, thanks for the link

Greed is Bitcoins killer app. Incentivising early adoption and evangelizing by early adopters bootstraps it and provides the necessary marketing.

yep, and this forum is one of the marketing centers. the rumor is out that one doubles up for every 1000 bullish posts...  Wink
Zarathustra
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October 13, 2014, 09:54:01 AM
 #13750

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular
NewLiberty
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October 13, 2014, 10:02:05 AM
 #13751

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular

Due to cherry picking graph start and end points you fail to make your point here.
Be less arbitrary in your favor.  This is not how science is done.

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
Pruden
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October 13, 2014, 10:22:33 AM
 #13752

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular
What a great chance to say adoption has been setting new records for months you just missed:

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=28&show_header=true&scale=0&address=
NotLambchop
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October 13, 2014, 10:58:52 AM
 #13753

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular

Due to cherry picking graph start and end points you fail to make your point here.
Be less arbitrary in your favor.  This is not how science is done.

No?



Scientist Predicts 60% Market Collapse

Quote
Chris Martenson is a world-renowned expert on identifying dangerous, yet hidden, exponential growth patterns in global economies, energy demand, and food consumption...

And he is predicting a 60% stock market collapse will strike in the next three months.

Martenson’s opinion isn’t to be taken lightly, as his research is highly regarded by the United Nations, UK Parliament, and Fortune 500 companies.

His shocking forecast is based on a new alarming pattern he’s identified — he’s calling it “a dreaded triple top” (pictured below).





I think this gonna be the much needed boost for bitcoin in the comming months.





Cheesy Cheesy Cheesy
Wekkel
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October 13, 2014, 11:39:43 AM
 #13754

The speculation part of Bitcoin is indeed a necessary aspect of Bitcoin's ascent. But the price of a single Bitcoin in USD is not the most interesting aspect of bitcoin. The most intriguing part of Bitcoin is its transparent decentralised ledger. This ledger cannot be negotiated with, cannot be extorted or bribed and not seized. It can be accessed universally and anywhere electronically. it's a way of keeping score without anyone interfering.

We all know that the current monetary system comes with perks that lead to a transfer of wealth from ordinary citizens to governments. People are increasingly becoming aware of this and will be looking for escapes. The great aspects of the Bitcoin ledger will induce people over time to keep score in an honest ledger instead of obfuscated official ledgers. Slowly but surely the honest ledger will show its upside compared to a mismanaged ledger. The USD centric approach of today still limits the penetration of decentralized ledgers but over time a critical mass will cross the line. I expect currency turbulence to hasten this process, although it may take many years. It will be the youth leading and not pensioners with a large stake in the current system. The trust and comfort found in banks has catched firm hold in people's believe system.

In the end, the honest transparent ledgers will prevail. Now that bypassing the official ledger is possible (at least - theoretically), nothing can stop this from happening over time, even if it takes a generation.

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Zarathustra
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October 13, 2014, 12:28:02 PM
 #13755

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular
What a great chance to say adoption has been setting new records for months you just missed:

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=28&show_header=true&scale=0&address=

Yes, I know, monthly or quarterly graph is looking better than the daily one. But while merchant adoption more than quadrupled, the transaction number encreased 10 percent.
And @NewLiberty is right as well. A year without a new high in adoption is nothing special:
https://blockchain.info/charts/n-transactions-excluding-popular?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

That's why I think that the question is whether this will happen again as it always did before. I think it will.
FNG
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October 13, 2014, 12:36:39 PM
 #13756

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular
What a great chance to say adoption has been setting new records for months you just missed:

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=28&show_header=true&scale=0&address=

Yes, I know, monthly or quarterly graph is looking better than the daily one. But while merchant adoption more than quadrupled, the transaction number encreased 10 percent.
And @NewLiberty is right as well. A year without an new high in adoption is nothing special:
https://blockchain.info/charts/n-transactions-excluding-popular?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

That's why I said that the question is whether this will happen again as it always did before. I think it will.
A lot of transactions happen within coinbase
World
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October 13, 2014, 12:47:17 PM
 #13757

Finland govt should buy BTCs and add bitcoin functionality to every Nokia smartphones, feature phones, mobile phones be default.
http://9to5mac.com/2014/10/13/finlands-credit-rating-downgraded-and-its-all-apples-fault-says-prime-minister/

Supporting people with beautiful creative ideas. Bitcoin is because of the developers,exchanges,merchants,miners,investors,users,machines and blockchain technologies work together.
Hunyadi
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☑ ♟ ☐ ♚


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October 13, 2014, 12:54:15 PM
 #13758

Finland govt should buy BTCs and add bitcoin functionality to every Nokia smartphones, feature phones, mobile phones be default.
http://9to5mac.com/2014/10/13/finlands-credit-rating-downgraded-and-its-all-apples-fault-says-prime-minister/

Nokia sold their smartphone business to Microsoft.

▂▃▅▇█▓▒░BTC-Cultist░▒▓█▇▅▃▂
World
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October 13, 2014, 01:32:34 PM
 #13759

Finland govt should buy BTCs and add bitcoin functionality to every Nokia smartphones, feature phones, mobile phones be default.
http://9to5mac.com/2014/10/13/finlands-credit-rating-downgraded-and-its-all-apples-fault-says-prime-minister/

Nokia sold their smartphone business to Microsoft.
thx oh… I see for $7 billion last year.

Supporting people with beautiful creative ideas. Bitcoin is because of the developers,exchanges,merchants,miners,investors,users,machines and blockchain technologies work together.
NewLiberty
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October 13, 2014, 02:24:22 PM
 #13760

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular

Due to cherry picking graph start and end points you fail to make your point here.
Be less arbitrary in your favor.  This is not how science is done.

No?



Scientist Predicts 60% Market Collapse

Quote
Chris Martenson is a world-renowned expert on identifying dangerous, yet hidden, exponential growth patterns in global economies, energy demand, and food consumption...

And he is predicting a 60% stock market collapse will strike in the next three months.

Martenson’s opinion isn’t to be taken lightly, as his research is highly regarded by the United Nations, UK Parliament, and Fortune 500 companies.

His shocking forecast is based on a new alarming pattern he’s identified — he’s calling it “a dreaded triple top” (pictured below).





I think this gonna be the much needed boost for bitcoin in the comming months.





Cheesy Cheesy Cheesy
lol
Right.  That wasn't science either.  It is not science when you decide that 9/11 and the financial meltdown of the last decade are going to be repeated simply because some stock index reaches the same price it was when those previous two events happened.

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
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