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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2008944 times)
cypherdoc
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February 11, 2015, 07:37:01 PM
 #21181

So for 5 billion people, I think that bitcoin will be more relevant than the internet.

http://uk.businessinsider.com/how-bitcoin-may-have-more-impact-than-the-internet-2015-2?r=US
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cypherdoc
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February 11, 2015, 07:40:47 PM
 #21182

you can't carry gold on your phone, can you?

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Have faith.


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February 11, 2015, 09:09:36 PM
 #21183

we need to keep Bitcoin focused on the money function.   that is what distinguishes it from altcoins and Bitcoin 2.0 platforms and potentially SC's:

http://coincenter.org/2015/02/cryptocurrency-investments-different-securities-investments/
no, bitcoin needs to focus on the gold function,

money is worthless it just passes from one hand to the next. its not a store of value

Infinite ice plan with thermal holes (Earth is one of them) and parallel firmament.   
Get used to it.
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February 11, 2015, 09:36:30 PM
 #21184

Bitcoin stands 0 chance at succeeding as money if it does not secure its 'store-of-valueness'.

Edit: this is bitcoin. Not some random piece of paper.

Non inultus premor
cypherdoc
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February 11, 2015, 09:53:26 PM
 #21185

we need to keep Bitcoin focused on the money function.   that is what distinguishes it from altcoins and Bitcoin 2.0 platforms and potentially SC's:

http://coincenter.org/2015/02/cryptocurrency-investments-different-securities-investments/
no, bitcoin needs to focus on the gold function,

money is worthless it just passes from one hand to the next. its not a store of value


since you're new here, i'll forgive you.  everyone knows that when i talk about Money, i mean Sound Money (fixed supply).
Melbustus
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February 11, 2015, 10:24:51 PM
 #21186

So for 5 billion people, I think that bitcoin will be more relevant than the internet.

http://uk.businessinsider.com/how-bitcoin-may-have-more-impact-than-the-internet-2015-2?r=US


@wences (and Ted Rogers, also from Xapo) continue to be spot-on regarding the long-view, and the position that bitcoin's greatest impact will be as *money*, not the amorphous "blockchain technology" so over-hyped these days.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Cryptoasset rankings and metrics for investors: http://onchainfx.com
cypherdoc
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February 12, 2015, 02:15:16 PM
 #21187

Let's see.

I want 5% of which market?


lunarboy
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February 12, 2015, 03:10:20 PM
 #21188


The race to the bottom continues.

Sweden cuts it's interest rates to negative 0.1% and starts QE

http://www.nytimes.com/2015/02/13/business/international/sweden-cuts-interest-rate-and-announces-bond-buying-program.html
iCEBREAKER
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February 12, 2015, 03:12:58 PM
 #21189

Let's see.

I want 5% of which market?




Bitcoin isn't a transaction processing network.  Bitcoin is money, and nothing else.


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Monero
"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
Buy and sell XMR near you
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Buy XMR with fiat
cocksOut
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February 12, 2015, 03:14:58 PM
 #21190

we need to keep Bitcoin focused on the money function.   that is what distinguishes it from altcoins and Bitcoin 2.0 platforms and potentially SC's:

http://coincenter.org/2015/02/cryptocurrency-investments-different-securities-investments/
no, bitcoin needs to focus on the gold function,
http://i.imgur.com/GdO3zHg.gif
money is worthless it just passes from one hand to the next. its not a store of value
http://i.imgur.com/ehYCZuK.gif

since you're new here, i'll forgive you.  everyone knows that when i talk about Money, i mean Sound Money (fixed supply).

you need inflation to keep up with the growth of the economy. economics 101.
cypherdoc
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February 12, 2015, 03:15:04 PM
 #21191

The insanity continues. 

http://www.wsj.com/articles/sweden-cuts-rate-announces-qe-1423731254
cypherdoc
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February 12, 2015, 03:18:33 PM
 #21192

we need to keep Bitcoin focused on the money function.   that is what distinguishes it from altcoins and Bitcoin 2.0 platforms and potentially SC's:

http://coincenter.org/2015/02/cryptocurrency-investments-different-securities-investments/
no, bitcoin needs to focus on the gold function,

money is worthless it just passes from one hand to the next. its not a store of value


since you're new here, i'll forgive you.  everyone knows that when i talk about Money, i mean Sound Money (fixed supply).

you need inflation to keep up with the growth of the economy. economics 101.

Correction:

Keynesian Economics101.  For special interests only.
cypherdoc
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February 12, 2015, 03:20:40 PM
 #21193

Let's see.

I want 5% of which market?




Bitcoin isn't a transaction processing network.  Bitcoin is money, and nothing else.

You mean it isn't a WoW asset trading platform?
NotLambchop
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February 12, 2015, 04:48:02 PM
 #21194

...economics 101.

Not here, bro Angry
This thread is where Bitcoin's crazies intellectual elite come to mate & lay eggs.  Feel free to marvel, but don't feed or disturb.
I'm gonna let you slide this one time 'coz you're new.
uki
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February 12, 2015, 04:48:22 PM
 #21195

Gold Collapsing. Bitcoin bottoming.
there were several events in the end of January /beginning of the February that were particularly gold-negative in the short term, namely, option expiration, massaged employment data. These plus the pace of the growth from the beginning of January plus the latest CoT data pointed for a corrective move in gold. Once $1230 was broken to the downside we are at the crossroads regarding the medium-term perspective. On the positive side is the historical trend, with 40+ years of data first four months of the year should be PM (gold) - positive. Let's how it resolves and if Bitcoin bottoming would be somewhere close to the gold bottom.

this space is intentionally left blank
NewLiberty
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February 12, 2015, 05:30:37 PM
 #21196

we need to keep Bitcoin focused on the money function.   that is what distinguishes it from altcoins and Bitcoin 2.0 platforms and potentially SC's:

http://coincenter.org/2015/02/cryptocurrency-investments-different-securities-investments/
no, bitcoin needs to focus on the gold function,

money is worthless it just passes from one hand to the next. its not a store of value


since you're new here, i'll forgive you.  everyone knows that when i talk about Money, i mean Sound Money (fixed supply).

you need inflation to keep up with the growth of the economy. economics 101.

Let us know when you get to grad school.
Econ 501 would be a good place to start.
Or start here:
http://ocw.mit.edu/courses/political-science/17-100j-political-economy-i-fall-2010/

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domob
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February 12, 2015, 06:01:48 PM
 #21197


The race to the bottom continues.

Sweden cuts it's interest rates to negative 0.1% and starts QE

http://www.nytimes.com/2015/02/13/business/international/sweden-cuts-interest-rate-and-announces-bond-buying-program.html


Quote
The decision means that Swedish commercial banks will be able to take out loans from the central bank at a negative interest rate. When the loans are due, banks will pay back less than they borrowed.

Does that only sound crazy to me or anyone else?  I've already accepted the ECB's negative interest (i. e., fees) when banks park money at it.  But at least a loan is still at positive 0.05%.  So if I'm a Swedish bank, I'll just get a billion in cash, put it in my vault, pay back less and profit?  How's that ever going to work out?

Use your Namecoin identity as OpenID: https://nameid.org/
Donations: 1domobKsPZ5cWk2kXssD8p8ES1qffGUCm | NMC: NCdomobcmcmVdxC5yxMitojQ4tvAtv99pY
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lunarboy
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February 12, 2015, 06:22:19 PM
 #21198


The race to the bottom continues.

Sweden cuts it's interest rates to negative 0.1% and starts QE

http://www.nytimes.com/2015/02/13/business/international/sweden-cuts-interest-rate-and-announces-bond-buying-program.html


Quote
The decision means that Swedish commercial banks will be able to take out loans from the central bank at a negative interest rate. When the loans are due, banks will pay back less than they borrowed.

Does that only sound crazy to me or anyone else?  I've already accepted the ECB's negative interest (i. e., fees) when banks park money at it.  But at least a loan is still at positive 0.05%.  So if I'm a Swedish bank, I'll just get a billion in cash, put it in my vault, pay back less and profit?  How's that ever going to work out?

Nothing makes sense any more. Perhaps i'll nip over to sweden and get a couple of billion Krona loan then buy bitcoin with it.  Huh
NotLambchop
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February 12, 2015, 06:34:24 PM
 #21199

^
From the article you quoted:
"The decision means that Swedish commercial banks will be able to take out loans from the central bank at a negative interest rate."
Are you a Swedish commercial bank?  If not, you're unlikely to get credit from teh central bank.  So now you know.
bambou
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February 12, 2015, 06:39:25 PM
 #21200


The race to the bottom continues.

Sweden cuts it's interest rates to negative 0.1% and starts QE

http://www.nytimes.com/2015/02/13/business/international/sweden-cuts-interest-rate-and-announces-bond-buying-program.html


Quote
The decision means that Swedish commercial banks will be able to take out loans from the central bank at a negative interest rate. When the loans are due, banks will pay back less than they borrowed.

Does that only sound crazy to me or anyone else?  I've already accepted the ECB's negative interest (i. e., fees) when banks park money at it.  But at least a loan is still at positive 0.05%.  So if I'm a Swedish bank, I'll just get a billion in cash, put it in my vault, pay back less and profit?  How's that ever going to work out?

Nothing makes sense any more. Perhaps i'll nip over to sweden and get a couple of billion Krona loan then buy bitcoin with it.  Huh

Feed the 1%
Bail in the 99%

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Non inultus premor
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