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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2013840 times)
molecular
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December 07, 2014, 09:19:46 PM
 #18561

"In common technology parlance, the early adopters are the first 2.5% of the users.  We are at less than 1% of potential users today, there is a long way to go."

How can you say that, with 13 from 21 million coins (roughly) already mined?

I guess it means that the early adopter crowd has (at least potentially) more bitcoins then the rest.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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December 07, 2014, 09:33:22 PM
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Funny thing with all these gold guys who promote Bitcoin backed by Gold - I feel that is basically giving btc a massive compliment (even though the notion is ridiculous)

And that link to gold statement shows that he is not there yet.


Yes, as hilarious as it is, it is essentially a statement that it is a better ledger than anything that has come before.

Frankly those of us that buy and sell gold for bitcoin are essentially backing bitcoin with gold already. 
Backing it with alpaca socks is also good though.

I'm not sure that's a good idea... I'm offering 2 pairs for redemption, let's see how that goes.

Joke aside. I think the ridiculous call for gold-backing of bitcoin shows us a couple of things:

  • The metal-heads are under pressure to have a position on crypto
  • outright rejection doesn't cut it any more
  • blatant attack doesn't cut it any more (Peter Schiff: "bitcoin is worthless because you can divide a bitcoin and then you have 2 bitcoins", lol)
  • so they try 'embrace and extend' or 'cherrypicking' aproaches (hence the gold-backing idea)
  • those dudes are extremely encumbered by the mountains of metal they sit on (maybe it will turn out the metal is actually sitting on them and locking them down)

I'm still waiting for:

  • they accumulate
  • they recommend

I'm not sure what stands in the way: inertia? fear? lack of understanding?

but hey: maybe they're the smart ones and we're the idiots, right? ;-)

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December 07, 2014, 09:42:37 PM
 #18563

"In common technology parlance, the early adopters are the first 2.5% of the users.  We are at less than 1% of potential users today, there is a long way to go."

How can you say that, with 13 from 21 million coins (roughly) already mined?

I guess it means that the early adopter crowd has (at least potentially) more bitcoins then the rest.


15,300 addresses own 67% of bitcoins
and 119,000 addresses own 94% of bitcoins

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

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December 07, 2014, 11:07:39 PM
 #18564

http://www.coindesk.com/firstmark-director-bitcoin-needs-entrepreneurs-understand-money/
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December 08, 2014, 05:40:42 AM
 #18565

Lol:

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December 08, 2014, 06:36:14 AM
 #18566

Damn, gold silver bitcoin & many more assets will be forced to crash well into 2015... All the selling this year was from insiders who know this, good luck to all!
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December 08, 2014, 06:38:02 AM
 #18567

Damn, gold silver bitcoin & many more assets will be forced to crash well into 2015... All the selling this year was from insiders who know this, good luck to all!
Sweet this means its time to buy

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December 08, 2014, 06:38:52 AM
 #18568

I'm still waiting for:

  • they accumulate
  • they recommend

I'm not sure what stands in the way: inertia? fear? lack of understanding?

but hey: maybe they're the smart ones and we're the idiots, right? ;-)

From those pro finance guys, I don't expect them to recommend until they are sure they are done accumulating.
Both can be smart, and have differing risk tolerances.
Fundamentally, I think we are on the right side of history, but I also recognize that it is going to take a lot of our work to provemake that true.
There are a lot of folks trying to change things in different directions and we really don't know how that will play out.

And at the end of the day it is easier to change a protocol than it is to change an element on the periodic chart.

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December 08, 2014, 06:40:35 AM
 #18569

I'm still waiting for:

  • they accumulate
  • they recommend

I'm not sure what stands in the way: inertia? fear? lack of understanding?

but hey: maybe they're the smart ones and we're the idiots, right? ;-)

From those pro finance guys, I don't expect them to recommend until they are sure they are done accumulating.
Both can be smart, and have differing risk tolerances.
Fundamentally, I think we are on the right side of history, but I also recognize that it is going to take a lot of our work to provemake that true.
There are a lot of folks trying to change things in different directions and we really don't know how that will play out.

And at the end of the day it is easier to change a protocol than it is to change an element on the periodic chart.
How about they fake ban? Then they revoke that claim?
China then russia next

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December 08, 2014, 10:49:19 AM
 #18570

This would have never happened a year ago:

https://twitter.com/JustusRanvier/status/541431742578434048

I've been traveling a lot thanks to the coin and I have experiences like this surprisingly often. I was stuck in Stockholm on a flight from Latvia to the USA (jumped a train to Copenhagen rather than wait for the five day flight day courtesy of Norwegian but that's another story), and while we were waiting in a huge line trying to get into our free hotel for the evening I was talking about bitcoin to a young finance guy living in NYC. A guy in front of me on the line heard us and turned around saying either he lost money in gox due to the collapse or had traded poorly and lost that way.

A few days ago in Mumbai at a Bollywood movie premiere I was talking to one of the directors and he said bitcoin had been very useful for him...

Let us just say that lots of people around the world loved Silk Road.

These are random interactions and of course do not include the many meetings with the true bitcoin faithful.

Gotta say, I love it. Makes me happy when I see the cryptoanarchist dreams of the 90s coming true.

This sort of stuff can be surreal, as all of you know we started so small with dreams. Reminds me of some quote saying the great events of life are not accompanied by a fanfare of trumpets like in the movies. But I find such simple coincidences amazing. We are part of something big. Smiley

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December 08, 2014, 01:52:13 PM
 #18571

Agree that those are valid criticisms, but did you catch where he called bitcoin a "Neanderthal" currency that will "go extinct the way Neanderthals did"?

I don't know if he (or you) knows much about the "extinction" of neanderthals.  Unless you are purebred African, you have neanderthal DNA.  Most Europeans and Asians have between 1-4% neanderthal.  It tends to lend a strong hybrid vigor, longer life is a result.  Neanderthals disappeared because they became part of everyone that ventured out.  They disappeared through love, interbreeding, not so much through war.  I am not entirely sure "extinction" is the proper term.

If bitcoin becomes part of everything, it will "go extinct in the way that neanderthals did".  So that quote is somewhat sublime, but I don't know if it is intentional.

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December 08, 2014, 02:01:23 PM
 #18572

Agree that those are valid criticisms, but did you catch where he called bitcoin a "Neanderthal" currency that will "go extinct the way Neanderthals did"?

I don't know if he (or you) knows much about the "extinction" of neanderthals.  Unless you are purebred African, you have neanderthal DNA.  Most Europeans and Asians have between 1-4% neanderthal.  It tends to lend a strong hybrid vigor, longer life is a result.  Neanderthals disappeared because they became part of everyone that ventured out.  They disappeared through love, interbreeding, not so much through war.  I am not entirely sure "extinction" is the proper term.

If bitcoin becomes part of everything, it will "go extinct in the way that neanderthals did".  So that quote is somewhat sublime, but I don't know if it is intentional.
That's very interesting but I am not sure there is a dichotomy between interbreeding and war. At the time, a big part of war goals was probably the access to other tribes' female.
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December 08, 2014, 02:31:10 PM
 #18573

...Unless you are purebred African, you have neanderthal DNA.  Most Europeans and Asians have between 1-4% neanderthal...

Fun fact:


Stay sharp, Bitcoiners!
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December 08, 2014, 03:09:46 PM
 #18574

Agree that those are valid criticisms, but did you catch where he called bitcoin a "Neanderthal" currency that will "go extinct the way Neanderthals did"?

I don't know if he (or you) knows much about the "extinction" of neanderthals.  Unless you are purebred African, you have neanderthal DNA.  Most Europeans and Asians have between 1-4% neanderthal.  It tends to lend a strong hybrid vigor, longer life is a result.  Neanderthals disappeared because they became part of everyone that ventured out.  They disappeared through love, interbreeding, not so much through war.  I am not entirely sure "extinction" is the proper term.

If bitcoin becomes part of everything, it will "go extinct in the way that neanderthals did".  So that quote is somewhat sublime, but I don't know if it is intentional.
That's very interesting but I am not sure there is a dichotomy between interbreeding and war. At the time, a big part of war goals was probably the access to other tribes' female.

https://genographic.nationalgeographic.com/neanderthal/

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December 08, 2014, 03:49:13 PM
 #18575

Agree that those are valid criticisms, but did you catch where he called bitcoin a "Neanderthal" currency that will "go extinct the way Neanderthals did"?

I don't know if he (or you) knows much about the "extinction" of neanderthals.  Unless you are purebred African, you have neanderthal DNA.  Most Europeans and Asians have between 1-4% neanderthal.  It tends to lend a strong hybrid vigor, longer life is a result.  Neanderthals disappeared because they became part of everyone that ventured out.  They disappeared through love, interbreeding, not so much through war.  I am not entirely sure "extinction" is the proper term.

If bitcoin becomes part of everything, it will "go extinct in the way that neanderthals did".  So that quote is somewhat sublime, but I don't know if it is intentional.
That's very interesting but I am not sure there is a dichotomy between interbreeding and war. At the time, a big part of war goals was probably the access to other tribes' female.

https://genographic.nationalgeographic.com/neanderthal/
It still doesn't explain why this should be love which determined the interbreeding instead of sheer force and darwinian competition.

If Homo Sapiens consistenly outcompeted Neanderthal in war, they surely used Neanderthal female for sex and reproductive purposes, thus prevented the Neandarthal's genes to be transmitted to their species members, while introducing some Neanderthal genes in Homo Sapiens' gene pool.

My point is that the fact that Homo Sapiens has some Neanderthal genes doesn't implies that it's love which determined the Neanderthals extinction, it could still be just darwinian fitness and rape.

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December 08, 2014, 04:43:52 PM
 #18576

My point is that the fact that Homo Sapiens has some Neanderthal genes doesn't implies that it's love which determined the Neanderthals extinction, it could still be just darwinian fitness and rape.
I'd guess that it's unlikely that the modern concept of love existed that far back in history. Rape probably also isn't a valid concept for pre-ethics protohumans, any more than it really makes sense to describe duck reproduction as rape.
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December 08, 2014, 04:48:18 PM
 #18577

Lol:



LOL There are a lot of people in the White House. Any guess who?
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December 08, 2014, 04:48:43 PM
 #18578

oil?  who the hell needs oil?:



for that matter, who the hell needs gold?:





continuing to fail?  this one is important, as continued "value" production would go hand in hand with increased transportation costs/utilization.  which is why a Dow Theory non-conf would be a big deal:

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December 08, 2014, 04:51:00 PM
 #18579

still a no-go here for us plebes.  is our destiny going to involve only big business?:

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December 08, 2014, 05:03:00 PM
 #18580

My point is that the fact that Homo Sapiens has some Neanderthal genes doesn't implies that it's love which determined the Neanderthals extinction, it could still be just darwinian fitness and rape.
I'd guess that it's unlikely that the modern concept of love existed that far back in history. Rape probably also isn't a valid concept for pre-ethics protohumans, any more than it really makes sense to describe duck reproduction as rape.
Well, love is biological. It's a chemical reaction which quite possibly was already evolved back in those days. Our modern concept of love is a cultural meme which is built upon that biological phenomenon.

With regards to ethics, there definitely were ruled specifics to each tribe, and it's quite probable that forced sex, as murder, was prohibited very early in most. Because otherwise the tribe would lack cohesion and therefore would have a very low survival probabilities.
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