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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1901918 times)
cypherdoc
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January 23, 2015, 12:32:10 PM
 #20521

Got half my gold short position back on yesterday at 1307 or 6  equivalent for DZZ.
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sickpig
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January 23, 2015, 02:33:15 PM
 #20522

Gold, Bitcoin & the US Dollar amid a Global Economic Slowdown

http://cointelegraph.com/news/113348/gold-bitcoin-the-us-dollar-amid-a-global-economic-slowdown

first time I'm not OT in a very long while Tongue

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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January 23, 2015, 03:41:52 PM
 #20523

Got half my gold short position back on yesterday at 1307 or 6  equivalent for DZZ.
Congrats on a successful trade.

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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January 23, 2015, 04:08:53 PM
 #20524

Got half my gold short position back on yesterday at 1307 or 6  equivalent for DZZ.
Congrats on a successful trade.

Way too early for that conclusion. Besides I still need to get the other half on Wink

Most tops and bottoms get retested so i wasn't  too upset missing the first test of 1307. The real question is whether we'll get a longer term retest.  And then  I'll put the other half on. 
cypherdoc
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January 23, 2015, 04:14:41 PM
 #20525

Gold, Bitcoin & the US Dollar amid a Global Economic Slowdown

http://cointelegraph.com/news/113348/gold-bitcoin-the-us-dollar-amid-a-global-economic-slowdown

first time I'm not OT in a very long while Tongue

This part is bullshit:

"Under this backdrop, it is easy to see why the USD is surging as the US has stopped QE and indicated a rate hike at some point this year. The US is perceived to have the strongest economy in the world."

Everyone seems to forget the Fed just finished around $4T  in QE over 6 years. CB's simply do a Round Robin when  it comes to QE which creates am artificial "stability" in cross rate, when in fact, they're all devaluing at different intervals.  

This is why they are all so worried about Bitcoin and rightfully so.
tvbcof
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January 23, 2015, 04:20:55 PM
 #20526

This is the way to go at the current level of adoption.

Local companies in different countries partner with each other, no need to establish a supernational umbrella company. Relatively low risk. The two sides can be smaller, in case the dominators come in and destroy the business.

http://www.coindesk.com/bitspark-rolls-remittance-service-indonesia/

"The process allows customers to deposit and withdraw cash, without touching bitcoin, while Bitspark and Artabit transact in the cryptocurrency. In the Philippines, Bitspark works with bitcoin exchange Rebit."

Yeah, that really is bullish as hell.

Great stuff going on in that corridor of the world.

Agree.  Finally people seem to be wising up to the fact that using Bitcoin for the masses to touch (try to) and hold (try to) and use for buying  trinkets is the worst idea ever.  People who have a half a clue as to what they are doing using Bitcoin as and reserve and proxy for more encumbered currencies is where the sustainable value comes from.  That is, leveraging it's advantages over gold.

Now all we need is sidechains to have the best of both worlds.  The herds will have the same levels of security without paying usurious rates to a middle-man (and being flat out ripped of by him half the time) and the solution won't be swamped and sunk under the weight of a sea of a billion retards.


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January 23, 2015, 04:24:13 PM
 #20527

Someone this morning put this up on reddit and is why criticizing volatility is stupid.

http://satoshi.nakamotoinstitute.org/posts/p2pfoundation/3/
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January 23, 2015, 05:40:32 PM
 #20528

This is the way to go at the current level of adoption.

Local companies in different countries partner with each other, no need to establish a supernational umbrella company. Relatively low risk. The two sides can be smaller, in case the dominators come in and destroy the business.

http://www.coindesk.com/bitspark-rolls-remittance-service-indonesia/

"The process allows customers to deposit and withdraw cash, without touching bitcoin, while Bitspark and Artabit transact in the cryptocurrency. In the Philippines, Bitspark works with bitcoin exchange Rebit."

Yeah, that really is bullish as hell.

Great stuff going on in that corridor of the world.

Agree.  Finally people seem to be wising up to the fact that using Bitcoin for the masses to touch (try to) and hold (try to) and use for buying  trinkets is the worst idea ever.  People who have a half a clue as to what they are doing using Bitcoin as and reserve and proxy for more encumbered currencies is where the sustainable value comes from.  That is, leveraging it's advantages over gold.

blah, blah, blah.  your moods are as fickle as the wind.  my guess is you sense a bottom --> time to take back all the negative bullshit
Quote

Now all we need is sidechains to have the best of both worlds.  The herds will have the same levels of security without paying usurious rates to a middle-man (and being flat out ripped of by him half the time) and the solution won't be swamped and sunk under the weight of a sea of a billion retards.



we've already explained to you a hundred times how these SC's can't possibly be AS secure as the MC unless they magically somehow attract 100% MM which is a pipedream by my estimation.  especially for anything more than probably 2 SC's.  that assumption ignores miners who might actually NOT want SC's to succeed or might want to attack them due to the easy pickings with no consequences to their seed corn MC mining.
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January 24, 2015, 12:42:59 AM
 #20529

we've already explained to you a hundred times how these SC's can't possibly be AS secure as the MC unless they magically somehow attract 100% MM which is a pipedream by my estimation.  especially for anything more than probably 2 SC's.  that assumption ignores miners who might actually NOT want SC's to succeed or might want to attack them due to the easy pickings with no consequences to their seed corn MC mining.

This would be tested with each and every MM'd SC.
There is zero cost for a miner to go hostile on any MM'd coin with mining already paid by the other activity.

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
tabnloz
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January 24, 2015, 12:46:29 AM
 #20530

Gold, Bitcoin & the US Dollar amid a Global Economic Slowdown

http://cointelegraph.com/news/113348/gold-bitcoin-the-us-dollar-amid-a-global-economic-slowdown

first time I'm not OT in a very long while Tongue

This part is bullshit:

"Under this backdrop, it is easy to see why the USD is surging as the US has stopped QE and indicated a rate hike at some point this year. The US is perceived to have the strongest economy in the world."

Everyone seems to forget the Fed just finished around $4T  in QE over 6 years. CB's simply do a Round Robin when  it comes to QE which creates am artificial "stability" in cross rate, when in fact, they're all devaluing at different intervals.  

This is why they are all so worried about Bitcoin and rightfully so.

Yes, iirc the BoJ announced its latest iteration of QE the day after the US finished its taper.
smooth
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January 24, 2015, 12:49:03 AM
 #20531

we've already explained to you a hundred times how these SC's can't possibly be AS secure as the MC unless they magically somehow attract 100% MM which is a pipedream by my estimation.

Even if a SC were to attract 100% MM at some point in time, it wouldn't necessarily retain it. There would always be a risk that the MM share would drop off, perhaps suddenly, which again means that the SC couldn't be as secure as the MC.

cypherdoc
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January 24, 2015, 02:04:14 AM
 #20532

remember back when a bunch of us were discussing appcoins and how i said that unless appcoin issuance was directly tied to the % equity granted in the app it wouldn't make sense?  well, it looks like Patrick Byrnes and CP are going to do this right.  this could get interesting.  let's wish them luck:

"In more Bitcoin-esque terms, crypto-equity is a way to distribute company equity shares in “coins.” It entitles the owner to an “equal amount of equity percentage in the company.”

http://cointelegraph.com/news/113346/patrick-byrne-on-the-upcoming-crypto-stock-market-its-a-threat-to-the-oligarchy
tvbcof
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January 24, 2015, 02:35:38 AM
 #20533

...
Now all we need is sidechains to have the best of both worlds.  The herds will have the same levels of security without paying usurious rates to a middle-man (and being flat out ripped of by him half the time) and the solution won't be swamped and sunk under the weight of a sea of a billion retards.

we've already explained to you a hundred times how these SC's can't possibly be AS secure as the MC unless they magically somehow attract 100% MM which is a pipedream by my estimation.  especially for anything more than probably 2 SC's.  that assumption ignores miners who might actually NOT want SC's to succeed or might want to attack them due to the easy pickings with no consequences to their seed corn MC mining.

I meant general level more in terms of visibility, counter-party risk, etc.

But this extreme security is the very problem!  Bitcoin has far TO MUCH security to be used for by billions of plebs and their brother for buying knick-nacks.  It just doesn't make any sense, and that is why Bitcoin cannot get any real traction here.

A windscreen on a Lear jet is smaller than that of a car.  Looks like any old piece of shaped plastic, but it costs $20,000.  I don't manufacture the things, but I suspect that there is a good deal of care which goes into it so it might have a chance of taking a goose hit at 350 mph and not creating a decompression.  Does it make sense to replace all Honda windshields with Lear style ones because they are 'more secure'.  No.  Honda would be out of business withing a month.  It's actually completely idiotic to over-specify things.  You folks who go on and on about the efficiency of the free market and all that nonsense should at least be clued in to such a simple thing as this.


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January 24, 2015, 03:34:09 AM
 #20534

Yes, except this is software. Interfaces will be figured out, the end user pays (next to) nothing and need not know how it all works.
tvbcof
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January 24, 2015, 03:45:33 AM
 #20535

Yes, except this is software. Interfaces will be figured out, the end user pays (next to) nothing and need not know how it all works.

I'm not really into subsidization and welfare for people.  Especially welfare for people so that they may drive a Cadillac.  This is kind of funny because I am one of the few folks around here who does not claim to be some sort of free-market fundamentalist.  I just observe the distortions and failures that such subsidies tend to bring.  None of the outcomes will bode well for native Bitcoin.


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January 24, 2015, 05:21:04 AM
 #20536

On the contrary, lots of money is to be made and saved. Where is it coming from? Efficiency.
BTCtrader71
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January 24, 2015, 05:28:49 AM
 #20537

Does it make sense to replace all Honda windshields with Lear style ones because they are 'more secure'. 

It does make sense to do so if the Lear style windshield is not only more secure, but also less expensive than the Honda style. Better and cheaper. No brainer.

BTC: 14oTcy1DNEXbcYjzPBpRWV11ZafWxNP8EU
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January 24, 2015, 05:33:06 AM
 #20538

using Bitcoin for the masses to touch (try to) and hold (try to) and use for buying  trinkets is the worst idea ever.  People who have a half a clue as to what they are doing using Bitcoin as and reserve and proxy for more encumbered currencies is where the sustainable value comes from.  That is, leveraging it's advantages over gold.

Now all we need is sidechains to have the best of both worlds.  The herds will have the same levels of security without paying usurious rates to a middle-man (and being flat out ripped of by him half the time) and the solution won't be swamped and sunk under the weight of a sea of a billion retards.

The Atlas-type people who matter will use Bitcoin for the seven most important (IE high-value) transactions per second.  No need for bloated blocks and hard forks.

The useless drooling masses can use altcoins to buy their plastic trinkets and shitty streamed Hollywood mind pollution.  No need for risky, divisive sidechains.

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  David Chaum 1996
Fungibility provides privacy as a side effect.  Adam Back 2014
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Core GUI - Podcats - Roadmap - Dice - Blackjack - Github - Android }


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


"I believed @Dashpay instamine was a bug & not a feature but then read: https://bitcointalk.org/index.php?topic=421615.msg13017231#msg13017231
I'm not against people making money, but can't support questionable origins."
https://twitter.com/Tone_LLT/status/717822927908024320


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


Warning Dash is a planned instamine, it wasn't an accident
tvbcof
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January 24, 2015, 05:40:26 AM
 #20539

On the contrary, lots of money is to be made and saved. Where is it coming from? Efficiency.

I think what you are groping for is 'economies of scale'.  This is certainly possible with Bitcoin.  Possibly almost inevitable which would kill the solution to me (though I might get rich in the process.)

As I said on another thread, the thing which makes Bitcoin kind of unique and differentiates it from Apple-pay or whatever-the-hell it is is that it is not controlled by players who can opperate more efficiently because they have a giant footprint.  Bitcoin still has some aura of rebelliousness.  It will be interesting to see if whatever giant corporation who monopolizes the solution will be able to hold on to any of that as they implement 'red-listing' and track the shit out of everything anyone does.  Most people are so utterly fucking stupid that I would not rule it out.  Even on the trolltalk forum so it can be assumed that in the real world things are even worse.


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January 24, 2015, 05:53:04 AM
 #20540

No, I meant efficiency.
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