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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1921459 times)
justusranvier
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October 31, 2014, 03:50:13 PM
 #15121

Armageddon confirmed by the fact that all market action is driven by the central planners.

Calling it a market is humorous at this point.  "Guess what the central banks will do next" seems like a better name for this circus

Musical chairs continues
The Federal Reserve official anthem: http://www.youtube.com/watch?v=zjedLeVGcfE
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October 31, 2014, 03:53:57 PM
 #15122

The higher all the pumped paper rises, the harder it falls.
cypherdoc
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October 31, 2014, 03:55:16 PM
 #15123

i've been wrong in calling the bottom, for so long in terms of what seems to be an interminable decline (only 11 mo really), that it can't hurt anymore than it already has by calling the bottom yet again:

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October 31, 2014, 04:01:56 PM
 #15124

for the doom and gloomers who are into fractals, take heart in the Megaphone formation that appears to be similar to that of the 2007-8 period.  it's all in the eye of the beholder!

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October 31, 2014, 04:14:18 PM
 #15125

Armageddon confirmed by the fact that all market action is driven by the central planners.

Calling it a market is humorous at this point.  "Guess what the central banks will do next" seems like a better name for this circus

Musical chairs continues
The Federal Reserve official anthem: http://www.youtube.com/watch?v=zjedLeVGcfE
"The Show Must Go On" - Leo Sayer

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 31, 2014, 04:23:16 PM
 #15126

-

you just weren't born into the right family.

Lol...and that's why I left the U.S. If I was born into the inner circle I probably would have stayed
cbeast
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Let's talk governance, lipstick, and pigs.


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October 31, 2014, 04:23:52 PM
 #15127

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you just weren't born into the right family.

Lol...and that's why I left the U.S. If I was born into the inner circle I probably would have stayed
Ditto.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 31, 2014, 04:47:15 PM
 #15128

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you just weren't born into the right family.

Lol...and that's why I left the U.S. If I was born into the inner circle I probably would have stayed
Ditto.

There does seem to be a correlation between bitcoin and becoming an ex-pat. Even if the decision was made before the fact.
justusranvier
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October 31, 2014, 05:35:24 PM
 #15129

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you just weren't born into the right family.

Lol...and that's why I left the U.S. If I was born into the inner circle I probably would have stayed
Ditto.

There does seem to be a correlation between bitcoin and becoming an ex-pat. Even if the decision was made before the fact.
The thing about Bitcoin is that geography becomes less relevant.

You don't have to physically leave in order to economically leave.
FNG
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October 31, 2014, 06:00:08 PM
 #15130

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you just weren't born into the right family.

Lol...and that's why I left the U.S. If I was born into the inner circle I probably would have stayed
Ditto.

There does seem to be a correlation between bitcoin and becoming an ex-pat. Even if the decision was made before the fact.

You don't have to physically leave in order to economically leave.
Physically leaving is the best part :p
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October 31, 2014, 06:40:07 PM
 #15131

"ECB SOURCE FED HAS NOTICED EUR SLIDE AND ECB MUST NOT PUSH TOO FAR: MNI"

http://www.zerohedge.com/news/2014-10-31/fed-launches-first-currency-war-salvo-tells-ecb-not-push-too-far#comments

smfh

Hello, world. We've got a currency over here who's supply is controlled by math. Anyone feel like joining and leaving these psychopaths??
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October 31, 2014, 06:57:40 PM
 #15132

Ok, I'm really getting sick of this fundamental misunderstanding making the rounds these days that "its the Blockchain stupid" that makes Bitcoin valuable and not the currency. I put the blame for this misperception squarely at the feet of Andreas as he's the one who's been most public and vocal spreading this view. After all, he is one of the geeks.

See 4:30 with Arthur Levitt :

http://mobile.bloomberg.com/video/arthur-levitt-on-sec-s-edgar-filing-system-and-bitcoin-YVtI25q8Tn~vJ2NWIawrpw.html

Let me flip this argument around and say "no stupid, it's the currency that makes Bitcoin,  not the Blockchain". After all, because it's a fixed supply and can't be inflated,  THAT is what is resonating with freedom minded people worldwide who are tired of having their money devalued. And because these people have thrown their hard earned fiat money at Bitcoin, precisely  for this reason,  this is what has caused the price  to rise and therefore has facilitated the mining industry to thrive and therefore the Blockchain has been allowed to become the immutable ledger it has become. The Blockchain would be nothing without the currency. Stupid.

Now those who know me best realize I'm saying this partly in jest because what I really believe is that the 2 are inextricably linked as Bitcoin is its own self contained financial  system.

Which is why I disagree with the core assumption of the SC concept too, btw, which assumes they can be separated.
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October 31, 2014, 07:29:40 PM
 #15133

what I really believe is that the 2 are inextricably linked as Bitcoin is its own self contained financial  system.
 
The blockchain makes bitcoin, the currency, a valuable item. Without bitcoin, the currency, the blockchain would not exist.

Without the currency there would be no valuable blockchain. Without the blockchain, a fully digital, decentralized currency, couldn't exist.

I like the fact that the blockchain is being promoted because you know the 2nd round of promotion will lead to the "currency" or SoV of bitcoin. It must. The hyped up blockchain is worthless without it.

Give the media time
Adrian-x
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October 31, 2014, 08:18:39 PM
 #15134

what I really believe is that the 2 are inextricably linked as Bitcoin is its own self contained financial  system.
 
The blockchain makes bitcoin, the currency, a valuable item. Without bitcoin, the currency, the blockchain would not exist.

Without the currency there would be no valuable blockchain. Without the blockchain, a fully digital, decentralized currency, couldn't exist.

I like the fact that the blockchain is being promoted because you know the 2nd round of promotion will lead to the "currency" or SoV of bitcoin. It must. The hyped up blockchain is worthless without it.

Give the media time

funny you should say that, it turns out a private for profit company Blockstream is wanting to change that at the protocol level, IE aloe you and anyone relay to leverage the Bitcoin Blockchain ledger and create other assets off it, in effect separating the value in the blockchain from value in the currency - with out any risk to your bitcoin, in effect, create some other form of value that could substitute for money BTC that isn't on the blockchain.

well there is a risk, and the risk is we may not need bitcoin the currency and just need to MergeMine bitcoin the blockchain to give value to the SideChain asset.  

the Blockstream  pitch:
Quote from: Austin Hill
We are a “blockchain 2.0” company.  Although I personally care for the success of Bitcoin, it is important to distinguish between bitcoin the asset and the blockchain as a programmable distributed trust infrastructure.  And we are interested in blockchain 2.0 and blockchain 2.0 using Bitcoin as a neutral transactional currency we believe is a great,

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Adrian-x
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October 31, 2014, 08:28:49 PM
 #15135

its not better technology that will replace bitcoin its better propaganda and consumer confidence keepers, some improvment i can see implemented in SC adjusting the fixed supply to a constant 3% economic growth stimulates (because economists think moderate monetary growth is good)  increasing the tx fees, we need more miners for security, and teh proponents saying you the people, listen up, we have embraced bitcoin's blockchain technology its been improved and is safe for consumer adoption, were moving our national currency into the blockchain.

and in the blink of an eye Bitcoins tiny billion dollar market cap is absorbed and assimilated and usurped. Replaced  not by better tech but by confidence spinning.

 Cheesy Cheesy Cheesy

my man, I have to say you almost had me. I, for one second, had the impression I was conversing with a smart fellow. You should be ashamed of such deception.

your argument is GOVcoin, with inflationary features and corporate sponsors will kill Bitcoin?

well my friend, this is the beauty of cryptocurrency. the democracy of money, where people vote with their $ (or BTC) and may the best man win.

let them have their attempt at GOVcoin and the free market will decide who the winner is.

I, for one, will have no part in it but I wish them luck. they will need lots of it.

i said half joking, but i was wrong, it turns out you cant make this $#!+ up. - you could add bitcoin alongside paper dollars.

Quote from:  Austin Hill  http://letstalkbitcoin.com/blockchain-2-0-let-a-thousand-chains-blossom/
I want to build a blockchain that could support a nation-state putting its national currency and phasing out paper dollars.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
marcus_of_augustus
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October 31, 2014, 09:42:30 PM
 #15136

you have to admit the "blockchain not bitcoin" soundbite has been a very effective message for the braindeads who are never going to expend the energy into figuring out why any form of money has value ... they just needed an easy, even if incorrect, idea to hang it on.

You see it a lot in science and math at the early levels, give them an easy narrative to get past the hard, nuanced concepts and move on to stuff they actually might learn and make use of. Like Father Christmas, tooth fairy, quantum mechanics, etc Wink

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October 31, 2014, 09:47:03 PM
 #15137

Back to the gold topic.

There is a referendum in Switzerland, in November, which is likely to secure a yes vote that the SNB holds 20% of its assets in gold (currently at 7.6%). As soon as this passes the bank will have five years to reach the 20% target. There is no legal escape for it. Considering that the SNB balance sheet has recently blown out Fed/BoE/BoJ-style - it will have to buy up to 1,700 tons of gold in the open market - and take delivery!

http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown

I really think this will put a floor under the current gold price, and maybe even spark another medium-term rally.


Will be interesting to watch the weasels at the SNB try to wriggle out of it ... after the shit they pulled with the EUR peg anything is possible.

Shit is being pulled again! Seems like this...

 ...On the top floor of PayPal HQ the legendary Black Phone is ringing...
 Nervously the execs crowd around until one of them summons enough courage to pick up the receiver.
 There are no pleasantries, a voice just hisses: "Remember Wikileaks? Now its the Swiss Gold Initiative"
 Drrrrrrrrr. The caller has hung up, the unseen world bankster network hath spoken.

https://goldswitzerland.com/swiss-gold-initiative-2014/

Quote
On Wednesday, October 29, we have received notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG. The reason is that we are not a formally registered charity in Switzerland and that we must seek a different approach to raising funds for this extremely important Initiative campaign. During the past two weeks we have received donations from various parts of the world and many from the United States of America. We and the Initiative Committee, chaired by Luzi Stamm of the Swiss National Parliament, are extremely greatful for the contributions that we have received to date and this setback will not stop our effort and our commitment to go through with the Social media promotional campaign that will in fact start on November 1 in Switzerland.

what BS but ... bitcoin to the rescue!

This could make for some great publicity for both bitcoin and the Swiss Gold initiative.

yes, for example if they put a f..cking bitcoin address instead of this:



behind their donation link.

EDIT "the recipient is unable to receive money"... LOL! I guess the recipient has no problem, paypal is unable

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coric
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October 31, 2014, 09:54:40 PM
 #15138

Did the SVP (right-wing populist party) endorse the gold initiative yet? Can't imagine another party, and the conservative establishment would certainly oppose it for fear of hurting the export industry (NZZ which I sometimes read does)
Adrian-x
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October 31, 2014, 09:55:52 PM
 #15139

you have to admit the "blockchain not bitcoin" soundbite has been a very effective message for the braindeads who are never going to expend the energy into figuring out why any form of money has value ... they just needed an easy, even if incorrect, idea to hang it on.

You see it a lot in science and math at the early levels, give them an easy narrative to get past the hard, nuanced concepts and move on to stuff they actually might learn and make use of. Like Father Christmas, tooth fairy, quantum mechanics, etc Wink

I would agree, and laughed it off, but in my understanding that reality can now be distorted to that narrative with SC.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
cypherdoc
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October 31, 2014, 09:56:21 PM
 #15140

we really haven't focused on the ethics of what gmax and the other core devs are doing.

i know the argument goes like this; they're the brightest minds in Bitcoin who have done so much for us we should be thankful, they have "positions" in BTC so they would NEVER do anything to harm Bitcoin, they deserve it, we should WANT them to be paid, SC's are neutral and are just trying to help Bitcoin, all you skeptics "just don't get it", etc.

well, the fact of the matter is we do get it.  we've flushed out alot right here in this thread.  and all of this technical babble has ignored the fact that what they are doing is unethical.  abusing one's privileged position as a core dev and pushing for a very specific and unique change in the source code, while simultaneously creating a for-profit company that seeks to profit off said change is unethical.  i asked gmax in the AMA whether he thought he should step down as core dev due to what is to any objective person a conflict of interest.  he said he thought that was "unreasonable" followed closely by LukeJr who said the same. LukeJr then launched off on a rant about how we should "want them to get paid".  nice spin Luke.  i don't have a problem with you starting a private company but not while taking advantage of your position. at least in the real world of banksters, there are plenty of examples where ppl step down b/c of conflicts of interest for reasons even more remotely unrelated than this.  these guys don't get it.  Satoshi spent at least 2 yrs of his life developing Bitcoin without being paid, so there. AND he hasn't cashed in any of his BTC that we know of to profit from Bitcoin.  now that's public service for you.  one might argue that should be the standard for Bitcoin.  maybe we need/deserve core devs who don't have gmax or Luke's attitudes?  Bitcoin has the potential to become a global currency so an argument can be made that it should be maintained for the public good. i for one think there are plenty of devs who would love to step up and replace those guys.

alarm bells should be going off in all Bitcoin holders heads right now.  this isn't right even if the SC concept were valid, which i don't think it is.
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