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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2014199 times)
Adrian-x
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December 05, 2014, 06:17:48 PM
 #18481

Citigroup Chief Economist GOLD is Effectively SHINY BITCOIN  

https://www.youtube.com/watch?v=WdUZHgieISc (nothing new but the ideas peculating into the public sphere.)

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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December 05, 2014, 06:23:30 PM
 #18482



Places where Bitcoin use should be expanded.
For the health and welfare of the people.

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
Adrian-x
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December 05, 2014, 07:09:52 PM
 #18483



Places where Bitcoin use should be expanded.
For the health and welfare of the people.

There is a challenge, it is unlikely that any of the nations on that list have mined a lot of Bitcoins.
So there are very few ways Bitcoin can find there way there. it is likely most of those on the list have very stringent exchange controls so buying Bitcoin to import is difficult.

Quite a few have cheep energy cost, so mining could be a viable way to export cheep subsidized electricity. (I've glanced at Ukraine and suspect while bitcoin is readily available its probably very expensive when sold at one of over 4000 ATM's, and some one has taken advantage of the there highly subsidized electricity - GHash.io possibly paying as low as $0.026 US per kWh )

As for the majority though energy costs are relatively high given the cost of living so entrepreneurs might find it more practical to find a commodity to export in-order to earn Bitcoin. (ie they are going to be slow to adopt) Surprisingly Canada electricity cost in comparison with cost of living is surprisingly cheep.

Just looking at these numbers there are some great opportunities, Egypt stands out, if you could come up with a decentralized mining solution that substituted for some existing electric heating application, you could employ a nation wide distributed mining farm for just pennies per kWh.  



Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Kupsi
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December 05, 2014, 07:28:00 PM
 #18484



Places where Bitcoin use should be expanded.
For the health and welfare of the people.

There is a challenge, it is unlikely that any of the nations on that list have mined a lot of Bitcoins.
So there are very few ways Bitcoin can find there way there. it is likely most of those on the list have very stringent exchange controls so buying Bitcoin to import is difficult.

Quite a few have cheep energy cost, so mining could be a viable way to export cheep subsidized electricity. (I've glanced at Ukraine and suspect while bitcoin is readily available its probably very expensive when sold at one of over 4000 ATM's, and some one has taken advantage of the there highly subsidized electricity - GHash.io possibly paying as low as $0.026 US per kWh )

As for the majority though energy costs are relatively high given the cost of living so entrepreneurs might find it more practical to find a commodity to export in-order to earn Bitcoin. (ie they are going to be slow to adopt) Surprisingly Canada electricity cost in comparison with cost of living is surprisingly cheep.

Just looking at these numbers there are some great opportunities, Egypt stands out, if you could come up with a decentralized mining solution that substituted for some existing electric heating application, you could employ a nation wide distributed mining farm for just pennies per kWh.  

Tourism
Adrian-x
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December 05, 2014, 07:43:39 PM
 #18485



Places where Bitcoin use should be expanded.
For the health and welfare of the people.

There is a challenge, it is unlikely that any of the nations on that list have mined a lot of Bitcoins.
So there are very few ways Bitcoin can find there way there. it is likely most of those on the list have very stringent exchange controls so buying Bitcoin to import is difficult.

Quite a few have cheep energy cost, so mining could be a viable way to export cheep subsidized electricity. (I've glanced at Ukraine and suspect while bitcoin is readily available its probably very expensive when sold at one of over 4000 ATM's, and some one has taken advantage of the there highly subsidized electricity - GHash.io possibly paying as low as $0.026 US per kWh )

As for the majority though energy costs are relatively high given the cost of living so entrepreneurs might find it more practical to find a commodity to export in-order to earn Bitcoin. (ie they are going to be slow to adopt) Surprisingly Canada electricity cost in comparison with cost of living is surprisingly cheep.

Just looking at these numbers there are some great opportunities, Egypt stands out, if you could come up with a decentralized mining solution that substituted for some existing electric heating application, you could employ a nation wide distributed mining farm for just pennies per kWh.  

Tourism

nice, that's a good one, it has a few drawbacks to over come, Virgin loosing a pilot defiantly put a dampener on space tourism, and I think Ebola is working to minimize the will to sit in confined spaces and travel to Africa.

One needs to catch people - get them to book - when they are feeling rich, so boom bust cycles for tourism may coincide with Bitcoin growth spurts, (bitcoin may prove to be a little unstable as a SoV over there if 3rd world tourist destinations are buying at the tops.)

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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9.9.2012: I predict that single digits... <- FAIL


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December 05, 2014, 08:35:19 PM
 #18486



Places where Bitcoin use should be expanded.
For the health and welfare of the people.

There is a challenge, it is unlikely that any of the nations on that list have mined a lot of Bitcoins.
So there are very few ways Bitcoin can find there way there. it is likely most of those on the list have very stringent exchange controls so buying Bitcoin to import is difficult.

Quite a few have cheep energy cost, so mining could be a viable way to export cheep subsidized electricity. (I've glanced at Ukraine and suspect while bitcoin is readily available its probably very expensive when sold at one of over 4000 ATM's, and some one has taken advantage of the there highly subsidized electricity - GHash.io possibly paying as low as $0.026 US per kWh )

As for the majority though energy costs are relatively high given the cost of living so entrepreneurs might find it more practical to find a commodity to export in-order to earn Bitcoin. (ie they are going to be slow to adopt) Surprisingly Canada electricity cost in comparison with cost of living is surprisingly cheep.

Just looking at these numbers there are some great opportunities, Egypt stands out, if you could come up with a decentralized mining solution that substituted for some existing electric heating application, you could employ a nation wide distributed mining farm for just pennies per kWh.  

Tourism

nice, that's a good one, it has a few drawbacks to over come, Virgin loosing a pilot defiantly put a dampener on space tourism, and I think Ebola is working to minimize the will to sit in confined spaces and travel to Africa.

One needs to catch people - get them to book - when they are feeling rich, so boom bust cycles for tourism may coincide with Bitcoin growth spurts, (bitcoin may prove to be a little unstable as a SoV over there if 3rd world tourist destinations are buying at the tops.)

According to coinmap.org there are 130 places which take bitcoin in Buenos Aires. Argentina had 5.28 million visitors in 2010 according to Wikipedia. If everyone left some bits there...

And we have BitPagos Smiley

https://www.bitpagos.com/en/
NewLiberty
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December 05, 2014, 10:04:08 PM
 #18487



Places where Bitcoin use should be expanded.
For the health and welfare of the people.

There is a challenge, it is unlikely that any of the nations on that list have mined a lot of Bitcoins.
So there are very few ways Bitcoin can find there way there. it is likely most of those on the list have very stringent exchange controls so buying Bitcoin to import is difficult.

Quite a few have cheep energy cost, so mining could be a viable way to export cheep subsidized electricity. (I've glanced at Ukraine and suspect while bitcoin is readily available its probably very expensive when sold at one of over 4000 ATM's, and some one has taken advantage of the there highly subsidized electricity - GHash.io possibly paying as low as $0.026 US per kWh )

As for the majority though energy costs are relatively high given the cost of living so entrepreneurs might find it more practical to find a commodity to export in-order to earn Bitcoin. (ie they are going to be slow to adopt) Surprisingly Canada electricity cost in comparison with cost of living is surprisingly cheep.

Just looking at these numbers there are some great opportunities, Egypt stands out, if you could come up with a decentralized mining solution that substituted for some existing electric heating application, you could employ a nation wide distributed mining farm for just pennies per kWh.  

Please consider whether it would be a more ore interesting comparison than:
Mining-electricity cost / Cost of living
would be
Mining-electricity cost / local value of bitcoin

I suspect that anyone that has expenses in the local currencies of these countries would do VERY well to be mining, as bitcoin would trade at a high premium in places where inflation is high. 

So Venezuela in particular, where energy is highly subsidized, should be a Bitcoin Mining Boom Town.

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
Adrian-x
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December 05, 2014, 10:29:48 PM
 #18488


Please consider whether it would be a more ore interesting comparison than:
Mining-electricity cost / Cost of living
would be
Mining-electricity cost / local value of bitcoin

I suspect that anyone that has expenses in the local currencies of these countries would do VERY well to be mining, as bitcoin would trade at a high premium in places where inflation is high.  

So Venezuela in particular, where energy is highly subsidized, should be a Bitcoin Mining Boom Town.

Thinking about it Mining-electricity cost / Cost of living is just a relative risk criteria.
The cool thing with Bitcoin is it's global so the biggest markets set the price and local markets just adapt to supply and demand the more effective the exchange controls and the more oppressive the inflation the higher the premium on Bitcoin.

The great thing about mining in those places is you are forced to cover your overhead in those markets. So adoption is almost a product of doing Bitcoin business there. And profits can move freely on the blockchain.

Those Venezuelans if they new it should be importing mining equipment or we should be setting up mining farms over there. Help them export that subsidized electricity.

I'm also liking https://www.bitpagos.com/en/ business idea.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
NewLiberty
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December 05, 2014, 11:00:37 PM
 #18489

Help them export that subsidized electricity.
This...
And preserve the economic liberty of those that "get it" in country.

Folks who have expenses elsewhere are not so keen on taking the Venezuelan Bolivar especially when it looks like it could get "stepped on" :
http://www.xe.com/currencycharts/?from=USD&to=VEF&view=10Y

Places like that don't have to wait for bitcoin emission halving for price appreciation, they have that on their own schedule...

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
cypherdoc
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December 06, 2014, 12:21:47 AM
 #18490

this is good.  Sergio Lerner:

http://www.coindesk.com/bitcoin-foundation-sergio-lerner-security-role/
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December 06, 2014, 12:29:05 AM
 #18491

https://twitter.com/petertoddbtc/status/541021169198305281
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December 06, 2014, 12:43:24 AM
 #18492

Glad to see you post cypherdoc... There is no denying Segio is one smart dude!
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December 06, 2014, 12:56:37 AM
 #18493

It's very good that the DOJ has coughed up 80000 coins. Let's hope they keep selling.
av123
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December 06, 2014, 01:40:38 AM
 #18494

It's very good that the DOJ has coughed up 80000 coins. Let's hope they keep selling.

Agreed but there will likely be similar type seizures in the future (although maybe not on the scale of the Silk Road).
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December 06, 2014, 01:52:37 AM
 #18495

dow is a buy but noobs are stRting to buy stocks again so careful... hedge by buying gold silver because noobs starting to short gold

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
cypherdoc
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December 06, 2014, 03:01:49 AM
 #18496

Back into the bullish flag. Just a matter of time. 
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December 06, 2014, 03:34:28 AM
 #18497

It's coming:

Russian BTC buying continues to accelerate - localbitcoins volume sets 7th consecutive weekly record.

http://bitcoincharts.com/charts/localbtcRUB#igWeeklyztgSzm1g10zm2g25zvzcv
lunarboy
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December 06, 2014, 03:53:52 AM
 #18498

It's coming:

Russian BTC buying continues to accelerate - localbitcoins volume sets 7th consecutive weekly record.




I presume any recovery will be tempered, at least until the rest of those 93000 coins have been sold off by the fed.
bitgold
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December 06, 2014, 04:32:37 AM
 #18499

It's coming:

Russian BTC buying continues to accelerate - localbitcoins volume sets 7th consecutive weekly record.

http://bitcoincharts.com/charts/localbtcRUB#igWeeklyztgSzm1g10zm2g25zvzcv

Nice to know, so far Russian has been below expectation.
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December 06, 2014, 05:49:48 AM
 #18500

ppl are getting closer to "The blockchain may only ever be applicable to Bitcoin as Money"-cypherdoc.

The fact that you are still sticking to this quote has caused me to switch from seriously respecting you to someone who can no longer take you seriously. It has already been proven time and time again that the blockchain is a brand new science that has yet to be fully explored and it's ramifications yet undiscovered. There are so many examples of how the blockchain can be used for so so much more then bitcoin as money, that your closed mindedness has me in such a serious state of shock and wonder. How is it that your mind can be so open open to Bitcoin while being so closed to it's innovations, yet be so shut down to the possibilities that the next 100 years will not expand on this innovation in more ways then humans can even begin to imagine?

Why don't you take a look at this, and tell me the blockchain is only applicable to money?

https://nxtforum.org/nxt-projects/helix-dapps-test-cp-repos/

http://finhive.com/roadmap.html
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