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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1806997 times)
cypherdoc
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February 16, 2015, 07:49:55 PM
 #21321


well, but there is a difference between losing money of government/bank-backed fiat kind and losing decentralised BTCs, right?
In the first case, there are certain guarantees to protect you from a loss, even if that means 'let's print some more money', in the latter case, once the money is gone it is gone for good. Unless the receiving party will send it back to you. I just can't find the reason for doing so.

In the former case the banks loss is covered by increasing everyones premiums and insurances or with a bail out by governments in the form of QE monetary dilution. In the latter the company that lost all the BTC either goes bankrupt or recompenses customers loss, plus all of their contemporaries are incentivised into making stronger storage systems.

When you come down to it, the primary complaint detractors have against bitcoin is they cannot socialize their own losses, that are a result of their own incompetence, on others . The prospect that they will directly bear the consequences of their own bad decisions, and not be able to force their loses on others, scares them to death.

Those of us who are sick and tired of have other people's losses forced on us (as uki promotes), look at bitcoin as a salvation.

It's even more than that.

It's that with Bitcoin they recognize they can't purposefully exploit the system to their own advantage for enormous profits, let alone offload their losses.
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Wekkel
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February 16, 2015, 08:11:37 PM
 #21322

this new Princeton education video is fantastic and just what we need to educate the masses:

https://www.youtube.com/watch?v=fOMVZXLjKYo

56 mins too long, and blank pages with text only... This won't cut it for the masses.

Like this post? you can tip me (BTC) 1LGi2DMhectdFSkBid5srrnHk8WHgD3V1d or very WoW (Doge) D9p6FZQb1sKkq9hApy4tnjSduYfdnc74bb
ErisDiscordia
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Imposition of ORder = Escalation of Chaos


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February 16, 2015, 08:20:56 PM
 #21323


well, but there is a difference between losing money of government/bank-backed fiat kind and losing decentralised BTCs, right?
In the first case, there are certain guarantees to protect you from a loss, even if that means 'let's print some more money', in the latter case, once the money is gone it is gone for good. Unless the receiving party will send it back to you. I just can't find the reason for doing so.

In the former case the banks loss is covered by increasing everyones premiums and insurances or with a bail out by governments in the form of QE monetary dilution. In the latter the company that lost all the BTC either goes bankrupt or recompenses customers loss, plus all of their contemporaries are incentivised into making stronger storage systems.

When you come down to it, the primary complaint detractors have against bitcoin is they cannot socialize their own losses, that are a result of their own incompetence, on others . The prospect that they will directly bear the consequences of their own bad decisions, and not be able to force their loses on others, scares them to death.

Those of us who are sick and tired of have other people's losses forced on us (as uki promotes), look at bitcoin as a salvation.

Nailed it. Another thing is that abandoning personal responsibility for the supposed safety of the "experts" or authorities makes you incapable of critical thought and independence. You can see the same effect in pretty much every area where government is heavily involved. Nowadays people can't even educate their own children, care for their own health, plan their own retirement or handle their own money. A pretty sad state of affairs which can imo be only remedied by relocating responsibility where it belongs and where it is most effective: with the individual.

It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
lunarboy
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February 16, 2015, 09:46:28 PM
 #21324


well, but there is a difference between losing money of government/bank-backed fiat kind and losing decentralised BTCs, right?
In the first case, there are certain guarantees to protect you from a loss, even if that means 'let's print some more money', in the latter case, once the money is gone it is gone for good. Unless the receiving party will send it back to you. I just can't find the reason for doing so.

In the former case the banks loss is covered by increasing everyones premiums and insurances or with a bail out by governments in the form of QE monetary dilution. In the latter the company that lost all the BTC either goes bankrupt or recompenses customers loss, plus all of their contemporaries are incentivised into making stronger storage systems.

When you come down to it, the primary complaint detractors have against bitcoin is they cannot socialize their own losses, that are a result of their own incompetence, on others . The prospect that they will directly bear the consequences of their own bad decisions, and not be able to force their loses on others, scares them to death.

Those of us who are sick and tired of have other people's losses forced on us (as uki promotes), look at bitcoin as a salvation.

Nailed it. Another thing is that abandoning personal responsibility for the supposed safety of the "experts" or authorities makes you incapable of critical thought and independence. You can see the same effect in pretty much every area where government is heavily involved. Nowadays people can't even educate their own children, care for their own health, plan their own retirement or handle their own money. A pretty sad state of affairs which can imo be only remedied by relocating responsibility where it belongs and where it is most effective: with the individual.

I'd suggest your taking it slightly too far here, a person can not be an expert in everything, there simply is not enough time in the day. TRUST being the key issue. I trust a teacher to provide a good education or a service to perform as they claim. Obviously due diligence is an important factor but an unwatched business will frequently cut corners/ take extra risk to make a profit. (hence the misconception regulation will improve the status quo). The point most detractors don't seem to realise is that theoretically at least, Bitcoin businesses have the potential to eliminate the need for trust entirely.  (just wish more of them would implement it already)

This is hugely valuable and seldomly mentioned in the mainstream media.
lunarboy
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February 16, 2015, 09:56:24 PM
 #21325

Back on topic

seems the Greeks are buying gold

http://www.zerohedge.com/news/2015-02-16/greeks-are-running-towards-gold-retail-demand-increases-123
tabnloz
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February 16, 2015, 10:00:27 PM
 #21326


well, but there is a difference between losing money of government/bank-backed fiat kind and losing decentralised BTCs, right?
In the first case, there are certain guarantees to protect you from a loss, even if that means 'let's print some more money', in the latter case, once the money is gone it is gone for good. Unless the receiving party will send it back to you. I just can't find the reason for doing so.

In the former case the banks loss is covered by increasing everyones premiums and insurances or with a bail out by governments in the form of QE monetary dilution. In the latter the company that lost all the BTC either goes bankrupt or recompenses customers loss, plus all of their contemporaries are incentivised into making stronger storage systems.

When you come down to it, the primary complaint detractors have against bitcoin is they cannot socialize their own losses, that are a result of their own incompetence, on others . The prospect that they will directly bear the consequences of their own bad decisions, and not be able to force their loses on others, scares them to death.

Those of us who are sick and tired of have other people's losses forced on us (as uki promotes), look at bitcoin as a salvation.

Nailed it. Another thing is that abandoning personal responsibility for the supposed safety of the "experts" or authorities makes you incapable of critical thought and independence. You can see the same effect in pretty much every area where government is heavily involved. Nowadays people can't even educate their own children, care for their own health, plan their own retirement or handle their own money. A pretty sad state of affairs which can imo be only remedied by relocating responsibility where it belongs and where it is most effective: with the individual.

I'd suggest your taking it slightly too far here, a person can not be an expert in everything, there simply is not enough time in the day. TRUST being the key issue. I trust a teacher to provide a good education or a service to perform as they claim. Obviously due diligence is an important factor but an unwatched business will frequently cut corners/ take extra risk to make a profit. (hence the misconception regulation will improve the status quo). The point most detractors don't seem to realise is that theoretically at least, Bitcoin businesses have the potential to eliminate the need for trust entirely.  (just wish more of them would implement it already)

This is hugely valuable and seldomly mentioned in the mainstream media.

Agree. For businesses: almost instant payment, no chargeback, multisig (no siphoning off funds), smart contracts (no reneging on deals). Main thing to solve is to verify the delivery from Person A to Person B without using a third party.
cypherdoc
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February 17, 2015, 12:09:26 AM
 #21327

I line the way these guys talk;

The Winklevoss twins have been vocal in their belief that bitcoin can match up with, or beat, the market for gold. Tyler told VICE News that if the currency can become a "better gold" — a commodity with long-term, bankable value — it could have a market cap of more than $1 trillion.

https://news.vice.com/article/a-nasdaq-for-bitcoin-vice-news-interviews-the-winklevoss-twins-about-the-future-of-cryptocurrency
cypherdoc
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February 17, 2015, 01:17:56 AM
 #21328

so sad:

AT&T charges $29 more for gigabit fiber that doesn’t watch your Web browsing

http://arstechnica.com/business/2015/02/att-charges-29-more-for-gigabit-fiber-that-doesnt-watch-your-web-browsing/
cypherdoc
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February 17, 2015, 02:54:48 AM
 #21329

Michael Casey, incredibly frank:

https://www.youtube.com/watch?v=_LWk_P3g2fc
Arnab biswas
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February 17, 2015, 03:08:48 AM
 #21330

seems that bitcoin is collapsing again Sad

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justusranvier
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February 17, 2015, 03:09:46 AM
 #21331

so sad:

AT&T charges $29 more for gigabit fiber that doesn’t watch your Web browsing

http://arstechnica.com/business/2015/02/att-charges-29-more-for-gigabit-fiber-that-doesnt-watch-your-web-browsing/
A good VPN is about 5 euros/month.

Take the $29 discount, route 100% of your traffic through a VPN, and you still come out ahead.
Hróðólfr
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February 17, 2015, 08:01:14 AM
 #21332

so sad:

AT&T charges $29 more for gigabit fiber that doesn’t watch your Web browsing

http://arstechnica.com/business/2015/02/att-charges-29-more-for-gigabit-fiber-that-doesnt-watch-your-web-browsing/
A good VPN is about 5 euros/month.

Take the $29 discount, route 100% of your traffic through a VPN, and you still come out ahead.

but how can you know that the VPN won't watch you?

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cbeast
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Let's talk governance, lipstick, and pigs.


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February 17, 2015, 08:15:41 AM
 #21333

I line the way these guys talk;

The Winklevoss twins have been vocal in their belief that bitcoin can match up with, or beat, the market for gold. Tyler told VICE News that if the currency can become a "better gold" — a commodity with long-term, bankable value — it could have a market cap of more than $1 trillion.

https://news.vice.com/article/a-nasdaq-for-bitcoin-vice-news-interviews-the-winklevoss-twins-about-the-future-of-cryptocurrency
As much as I want to, I can't hate the Winklevoss twins. I feel the same way about Libertarians. Bitcoin brings everyone together in spite of their differences. I guess it takes all kinds of ingredients to make a great recipe.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
razorramon
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February 17, 2015, 10:48:54 AM
 #21334

so sad:

AT&T charges $29 more for gigabit fiber that doesn’t watch your Web browsing

http://arstechnica.com/business/2015/02/att-charges-29-more-for-gigabit-fiber-that-doesnt-watch-your-web-browsing/

wow...i hope they bankrupt
lebing
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Bitcoin: The honey badger of currencies


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February 17, 2015, 12:01:41 PM
 #21335

so sad:

AT&T charges $29 more for gigabit fiber that doesn’t watch your Web browsing

http://arstechnica.com/business/2015/02/att-charges-29-more-for-gigabit-fiber-that-doesnt-watch-your-web-browsing/
A good VPN is about 5 euros/month.

Take the $29 discount, route 100% of your traffic through a VPN, and you still come out ahead.

but how can you know that the VPN won't watch you?

you pay with bitcoin and it doesnt matter if they watch you. they won't know who "you" are.

Bro, do you even blockchain?
-E Voorhees
sporket
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February 17, 2015, 12:21:53 PM
 #21336

so sad:

AT&T charges $29 more for gigabit fiber that doesn’t watch your Web browsing

http://arstechnica.com/business/2015/02/att-charges-29-more-for-gigabit-fiber-that-doesnt-watch-your-web-browsing/
A good VPN is about 5 euros/month.

Take the $29 discount, route 100% of your traffic through a VPN, and you still come out ahead.

but how can you know that the VPN won't watch you?

you pay with bitcoin and it doesnt matter if they watch you. they won't know who "you" are.

^Horrible advice.  The VPN sees your IP, which is exactly what you're trying to obfuscate by using a VPN.
cypherdoc
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February 17, 2015, 02:29:34 PM
 #21337

Gold Collapsing. Bitcoin bottoming.
cypherdoc
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February 17, 2015, 02:52:24 PM
 #21338

Silver getting bitch slapped
cypherdoc
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February 17, 2015, 03:20:18 PM
 #21339

oh Lordy.  not again!

Gold collapsing.  Bitcoin UP:

cypherdoc
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February 17, 2015, 03:25:54 PM
 #21340

traderCJ, DZZ up 18%:

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