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Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805163 times)
marcus_of_augustus
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March 11, 2015, 07:04:19 AM
 #21901

embedding the hash of UTXO in the block headers and retaining only the last few hundred blocks is being experimented with as a client option.
screw that, i want direct access to a copy of the entire blockchain at all times.  

No one will deny you that access on an open network should you wish it ... destruction of tx history has a myriad of benefits, and risks (that can be mitigated).



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solex
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100 satoshis -> ISO code


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March 11, 2015, 08:21:59 AM
 #21902

embedding the hash of UTXO in the block headers and retaining only the last few hundred blocks is being experimented with as a client option.

Good to know.

screw that, i want direct access to a copy of the entire blockchain at all times.  

No one will deny you that access on an open network should you wish it ... destruction of tx history has a myriad of benefits, and risks (that can be mitigated).

Yes. The power of Bitcoin is enhanced by in-built flexibility. Many nodes will always have and always want the full blockchain, many will be happier with the UTXO set secured by hashes in the main-chain, and many users will be OK with SPV only.

Just because alternative models are available, and can work concurrently with earlier implementations, does not mean everyone jumps ship to one model.

marcus_of_augustus
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March 11, 2015, 10:39:40 AM
 #21903

the immutable ledger property that wall st. has finally grokked (took long enough) is in fact provided by the chained-blocks subset, the UTXO ... and therein lies the fulcrum of the not bitcoin vs "blockchain technology" misinformation meme.

UTXO=ledger
blockchain=journal

cypherdoc
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March 11, 2015, 01:19:33 PM
 #21904

Gold collapsing. Bitcoin UP.

Yawn.
foxbitcoin
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March 11, 2015, 02:28:24 PM
 #21905

the sentiment is extremely positive we may see a new ATH until some time in 2015 Then we can start to imagining $5k bitcoins next year.


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brg444
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Bitcoin replaces central, not commercial, banks


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March 11, 2015, 02:46:10 PM
 #21906

the sentiment is extremely positive we may see a new ATH until some time in 2015 Then we can start to imagining $5k bitcoins next year.

If/when we see a new ATH I doubt it will stop a couple dollars or hundreds of over the previous one. When we're past 1163 then the sky is the limit.

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
cypherdoc
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March 11, 2015, 03:22:50 PM
 #21907

Gold really collapsing. Bitcoin UP.

Hfleer
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March 11, 2015, 03:27:52 PM
 #21908

Gold really collapsing. Bitcoin UP.



Are you sure? Because losing 5% in one month is not what I call collapsing.

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justusranvier
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March 11, 2015, 03:29:15 PM
 #21909

I really hope this is the last gasp of the appcoin model:

http://blog.factom.org/post/113341070224/coinapult-factom-announce-collaboration

Quote
Factom has selected Coinapult to be one of its partners on its asset allocation model. More details will be announced in the coming weeks, along with a breakdown of the best practices Factom will employ in its software sale. Since Coinapult can offer a wide variety of exchange integration and over the counter trading this shields the value the Factom Foundation collects from price swings associated in the market and preserves the value contributed by Factoid purchasers.

Because both the marks investors and the regulators are now so skeptical of appcoin IPOs, they now have to pretend it's a "software sale" to have any credibility at all.
cypherdoc
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March 11, 2015, 03:36:57 PM
 #21910

Gold really collapsing. Bitcoin UP.



Are you sure? Because losing 5% in one month is not what I call collapsing.

Well, given I made this post on 8/9/11, Gold: I Smell a Trap, I think I've earned the right to say "yeah, I'm sure".
D05GTO
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Cut your Noose


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March 11, 2015, 03:42:38 PM
 #21911

Just a thought.. since there is a currency war happening and everyone knows China/Russia is going all in on Gold.  It would behoove all the rest to push gold down as much as possible.

Bitcoin is not a currency for a government; it is a global currency for the people.  Trade at Banx.io exchange!
Hfleer
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March 11, 2015, 03:49:27 PM
 #21912

Gold really collapsing. Bitcoin UP.



Are you sure? Because losing 5% in one month is not what I call collapsing.

Well, given I made this post on 8/9/11, Gold: I Smell a Trap, I think I've earned the right to say "yeah, I'm sure".

Well, will you look at that. Nice timing. Do you still hold a single ounce of gold or are you 100% BTC in the BTC/GLD pair?

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cypherdoc
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March 11, 2015, 03:50:10 PM
 #21913

Just a thought.. since there is a currency war happening and everyone knows China/Russia is going all in on Gold.  It would behoove all the rest to push gold down as much as possible.

Ah, now you're thinking.

It may actually be in the US's overall strategic advantage to adopt Bitcoin as backing for the USD in the long run.

Wouldn't that be a hoot.
cypherdoc
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March 11, 2015, 03:56:12 PM
 #21914

Gold really collapsing. Bitcoin UP.



Are you sure? Because losing 5% in one month is not what I call collapsing.

Well, given I made this post on 8/9/11, Gold: I Smell a Trap, I think I've earned the right to say "yeah, I'm sure".

Well, will you look at that. Nice timing. Do you still hold a single ounce of gold or are you 100% BTC in the BTC/GLD pair?

Sold all the silver and most of the gold. Still retain 2 sleeves of gold coins but that's it. Bitcoin is the future.

I keep offering to sell those 2 sleeves to all the gold bugs who stop by every once in a while claiming they're worth $30000/oz for a mere $15000/oz but not a one of them take me up on the deal.
Zangelbert Bingledack
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March 11, 2015, 03:58:59 PM
 #21915

I really hope this is the last gasp of the appcoin model:

http://blog.factom.org/post/113341070224/coinapult-factom-announce-collaboration

Quote
Factom has selected Coinapult to be one of its partners on its asset allocation model. More details will be announced in the coming weeks, along with a breakdown of the best practices Factom will employ in its software sale. Since Coinapult can offer a wide variety of exchange integration and over the counter trading this shields the value the Factom Foundation collects from price swings associated in the market and preserves the value contributed by Factoid purchasers.

Because both the marks investors and the regulators are now so skeptical of appcoin IPOs, they now have to pretend it's a "software sale" to have any credibility at all.

The trend seems to be tapering off, but it's still alive. Meanwhile Ethereum seems to be taking a "money doesn't matter"/"blockchains are a friggin' database technology" stance even after their huge crowdsale. Here is Vitalik giving his understanding of economics, which he still maintains have nothing to do with Ethereum because he's "not designing an economic system":

http://www.reddit.com/r/ethereum/comments/2ymtqx/vitalik_your_logic_and_thought_process/

He seems to understand a few things he didn't before, but still is lost in the forest.
Hfleer
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March 11, 2015, 04:02:04 PM
 #21916

Gold really collapsing. Bitcoin UP.



Are you sure? Because losing 5% in one month is not what I call collapsing.

Well, given I made this post on 8/9/11, Gold: I Smell a Trap, I think I've earned the right to say "yeah, I'm sure".

Well, will you look at that. Nice timing. Do you still hold a single ounce of gold or are you 100% BTC in the BTC/GLD pair?

Sold all the silver and most of the gold. Still retain 2 sleeves of gold coins but that's it. Bitcoin is the future.

I keep offering to sell those 2 sleeves to all the gold bugs who stop by every once in a while claiming they're worth $30000/oz for a mere $15000/oz but not a one of them take me up on the deal.

Haha Wink

I am pretty much in the same situation. I sold most of my gold in early 2013 but rebought some in mid 2014.

Gold is still very nice to balance a portfolio of Stocks and Bonds, unlike BTC it is directly negatively correlated to those.

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justusranvier
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March 11, 2015, 04:05:38 PM
 #21917

The trend seems to be tapering off, but it's still alive. Meanwhile Ethereum seems to be taking a "money doesn't matter"/"blockchains are a friggin' database technology" stance even after their huge crowdsale.
Of course he'd act that way.

When he wanted the investor money, he had to build expectations of returns.

Now that he has the money, he wants to lower expectations of returns to preemptively shrink the size of the angry mob before it forms.
uvwvj
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March 11, 2015, 04:10:00 PM
 #21918

The trend seems to be tapering off, but it's still alive. Meanwhile Ethereum seems to be taking a "money doesn't matter"/"blockchains are a friggin' database technology" stance even after their huge crowdsale.
Of course he'd act that way.

When he wanted the investor money, he had to build expectations of returns.

Now that he has the money, he wants to lower expectations of returns to preemptively shrink the size of the angry mob before it forms.

Biggest legal (but unmoral) con in Bitcoin Land to date.  I will make something (or maybe not) and sell coins for BTC.  And database tech rocks -

19 year old kid might be able to code but has a long way to go to understand how the real world works.
cypherdoc
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March 11, 2015, 04:10:11 PM
 #21919

Gold really collapsing. Bitcoin UP.



Are you sure? Because losing 5% in one month is not what I call collapsing.

Well, given I made this post on 8/9/11, Gold: I Smell a Trap, I think I've earned the right to say "yeah, I'm sure".

Well, will you look at that. Nice timing. Do you still hold a single ounce of gold or are you 100% BTC in the BTC/GLD pair?

Sold all the silver and most of the gold. Still retain 2 sleeves of gold coins but that's it. Bitcoin is the future.

I keep offering to sell those 2 sleeves to all the gold bugs who stop by every once in a while claiming they're worth $30000/oz for a mere $15000/oz but not a one of them take me up on the deal.

Haha Wink

I am pretty much in the same situation. I sold most of my gold in early 2013 but rebought some in mid 2014.

Gold is still very nice to balance a portfolio of Stocks and Bonds, unlike BTC it is directly negatively correlated to those.

Actually that negative correlation is now changing to positive correlation as we enter deflation. Go back and look at the charts of the brief deflationary 2008-9. Gold and gold stocks dropped significantly along with stocks and non UST bonds. This time that correlated drop should be even greater. And gold is leading.
Hfleer
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March 11, 2015, 04:14:03 PM
 #21920

Gold really collapsing. Bitcoin UP.



Are you sure? Because losing 5% in one month is not what I call collapsing.

Well, given I made this post on 8/9/11, Gold: I Smell a Trap, I think I've earned the right to say "yeah, I'm sure".

Well, will you look at that. Nice timing. Do you still hold a single ounce of gold or are you 100% BTC in the BTC/GLD pair?

Sold all the silver and most of the gold. Still retain 2 sleeves of gold coins but that's it. Bitcoin is the future.

I keep offering to sell those 2 sleeves to all the gold bugs who stop by every once in a while claiming they're worth $30000/oz for a mere $15000/oz but not a one of them take me up on the deal.

Haha Wink

I am pretty much in the same situation. I sold most of my gold in early 2013 but rebought some in mid 2014.

Gold is still very nice to balance a portfolio of Stocks and Bonds, unlike BTC it is directly negatively correlated to those.

Actually that negative correlation is now changing to positive correlation as we enter deflation. Go back and look at the charts of the brief deflationary 2008-9. Gold and gold stocks dropped significantly along with stocks and non UST bonds. This time that correlated drop should be even greater. And gold is leading.

You are absolutely right and I took that apparent change into account when I bought the gold. But as I was going for an 10y+ investment and I still think in that timeframe it will work as a buffer on swings.

Only time will tell, but even if it is positively correlated it won't hurt me too much.

█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
▓▓▓▓▓  BIT-X.comvvvvvvvvvvvvvvi
→ CREATE ACCOUNT 
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