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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2009148 times)
solex
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January 28, 2015, 08:59:10 AM
 #20721

Here's one that will blow Varoufakis tiny mind wide open.

http://aeon.co/magazine/technology/are-we-ready-for-companies-that-run-themselves/

Quote
Which vision will win out? That will depend less on the specific capacities of the technology than on the ability of governments and electorates to grasp what it is and what it means. One way or another, it looks like RoboCorp will be able to look out for itself. In the meantime, we need to get our own house in order.

sort your shit out, robocorp is coming  Smiley

That's a great read, thanks. Sometimes I wonder if Satoshi's most impactful and valuable invention might turn out to be the invention of the first DAC.

Bitcoin as money is a mechanism to regain what we lost and help return to the principles of sound money that we had under the gold standard (albeit with a much better payment function).

But the invention of the first DAC enables entire new concepts that we've never had before, and can help disintermediate functions for society that have always required government or middle men before. This has potential we don't understand yet, and will probably take a long time to develop, but will be revolutionary.

I remember reading that theymos likes Iain Banks' sci-fi Culture novels. It was probably apparent to him early on that Bitcoin is a currency that would fit into that civilization. I think that DACs go to the next level with incredible potential, easily the backbone of an economy this size of the Culture.
Back on Earth, the future world economy will be transformed, and far more efficient, if DACs take off.

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cypherdoc
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January 28, 2015, 07:15:10 PM
 #20722

oil?  who the hell needs oil?



here's one  i haven't looked at for a while.  Baltic Dry Index at close to 2008 lows:



79b79aa8d5047da6d3XX
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◕_◕


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January 28, 2015, 07:53:08 PM
 #20723

ouch
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January 28, 2015, 08:18:14 PM
 #20724

Dow diving now.  as it should:  -73.
cypherdoc
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January 28, 2015, 08:31:09 PM
 #20725

fear still creeping:

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January 28, 2015, 08:35:09 PM
 #20726

Dow -137.

Damn Fed.
zanzibar
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January 28, 2015, 09:13:52 PM
 #20727

Wish BTC would stop plummeting.  It's being dominated by day traders.
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January 28, 2015, 09:19:15 PM
 #20728

Here's one that will blow Varoufakis tiny mind wide open.

http://aeon.co/magazine/technology/are-we-ready-for-companies-that-run-themselves/

Quote
Which vision will win out? That will depend less on the specific capacities of the technology than on the ability of governments and electorates to grasp what it is and what it means. One way or another, it looks like RoboCorp will be able to look out for itself. In the meantime, we need to get our own house in order.

sort your shit out, robocorp is coming  Smiley

That's a great read, thanks. Sometimes I wonder if Satoshi's most impactful and valuable invention might turn out to be the invention of the first DAC.

Bitcoin as money is a mechanism to regain what we lost and help return to the principles of sound money that we had under the gold standard (albeit with a much better payment function).

But the invention of the first DAC enables entire new concepts that we've never had before, and can help disintermediate functions for society that have always required government or middle men before. This has potential we don't understand yet, and will probably take a long time to develop, but will be revolutionary.

I remember reading that theymos likes Iain Banks' sci-fi Culture novels. It was probably apparent to him early on that Bitcoin is a currency that would fit into that civilization. I think that DACs go to the next level with incredible potential, easily the backbone of an economy this size of the Culture.
Back on Earth, the future world economy will be transformed, and far more efficient, if DACs take off.

AFAIK DACS preexisted BTC.  I learned about them in the context of open source hardware.  BTC is interesting because it provides one DAC mechanism... but what it rewards is very limited (mining).  Others have proposed plans like divvying up money based on source control checkins.  This is distributed dev, but still centralized rewards.
Torque
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January 28, 2015, 09:25:43 PM
 #20729

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.
sidhujag
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January 28, 2015, 09:30:08 PM
 #20730

usd wins today again

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
thezerg
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January 28, 2015, 09:43:32 PM
 #20731

It's still being treated as a stock/commodity.

 Huh - It is a commodity - Maybe in 2021 when inflation is less than 1% we can start to talk about it as a currency

No 2016 3% is very much inline with fiat... in 2021 it will be something new.
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January 28, 2015, 10:28:55 PM
 #20732

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.

That's fine, don't mind if it's treated as a stock/commodity, as long as you can trade it on Wall Street, then we will see some real $ in BTC.
cypherdoc
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January 28, 2015, 11:18:16 PM
 #20733

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.

That's fine, don't mind if it's treated as a stock/commodity, as long as you can trade it on Wall Street, then we will see some real $ in BTC.

yep, keep the big picture and long term in mind.
Torque
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January 28, 2015, 11:21:33 PM
 #20734

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.

That's fine, don't mind if it's treated as a stock/commodity, as long as you can trade it on Wall Street, then we will see some real $ in BTC.

yep, keep the big picture and long term in mind.

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.
cypherdoc
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January 28, 2015, 11:26:13 PM
 #20735

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.

That's fine, don't mind if it's treated as a stock/commodity, as long as you can trade it on Wall Street, then we will see some real $ in BTC.

yep, keep the big picture and long term in mind.

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

maybe, no guarantees.

but too early to come to any conclusions.  maybe not enough turmoil yet.
Spaceman_Spiff
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₪``Campaign Manager´´₪


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January 28, 2015, 11:27:24 PM
 #20736

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.
zanzibar
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January 29, 2015, 12:36:12 AM
 #20737

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's
kodtycoon
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January 29, 2015, 03:14:41 AM
 #20738

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash. 
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's

they are already pumping the shit out of it in the media.. non stop interviews, articles etc day after day the last week or two.. and all of it very positive stuff.

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[]|
Torque
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January 29, 2015, 03:31:56 AM
 #20739

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's

Average Joes don't pump BTC to $10K.  First the whale pumpers do, THEN Average Joe starts buying at the higher price.
traderCJ
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January 29, 2015, 04:03:00 AM
 #20740

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's

It's a shared ledger, so it really is none of those things.  You might use it as those things, but then again I can do the same with seashells or rocks.
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