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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2014181 times)
justusranvier
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March 24, 2015, 04:24:43 PM
 #22201

Almost one year of inactivity on the OT pub repo.
There's been quite a bit of activity in the OT repos recently:

https://github.com/Open-Transactions/opentxs/commits/develop
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sickpig
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March 24, 2015, 04:35:15 PM
 #22202

Almost one year of inactivity on the OT pub repo.
There's been quite a bit of activity in the OT repos recently:

https://github.com/Open-Transactions/opentxs/commits/develop

I've looked at

https://github.com/FellowTraveler/Open-Transactions/commits/master

I was somewhat tricked by the mobile version of github.






Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
justusranvier
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March 24, 2015, 04:59:53 PM
 #22203

Almost one year of inactivity on the OT pub repo.
There's been quite a bit of activity in the OT repos recently:

https://github.com/Open-Transactions/opentxs/commits/develop

I've looked at

https://github.com/FellowTraveler/Open-Transactions/commits/master

I was somewhat tricked by the mobile version of github.
The Open-Transactions repo was split up into several modules and is deprecated. opentxs is now the primary OT library repo.

https://github.com/FellowTraveler/opentxs/commits/develop
iCEBREAKER
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March 24, 2015, 06:41:19 PM
 #22204

More whining and FUD from the buggy-whip making Luddites:
Quote
Bitcoin’s lien problem

Part of the BitcoinMania series

http://ftalphaville.ft.com/2015/03/24/2122678/bitcoins-lien-problem/

Quote
At cryptocurrency and fintech conferences, FT Alphaville often hears Bitcoin enthusiasts make the assertion that Bitcoin is superior to fiat currency because it eliminates debt from the monetary system.

But this, of course, is a fallacy.

Bitcoin may have the potential to create a fully-funded reserve system, but it certainly doesn’t eliminate debt from any system.

At best, Bitcoin’s public ledger records a transfer of digital access rights in the eyes of the clearing network. It does not, however, record or see the terms and conditions of that transfer...


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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
cypherdoc
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March 24, 2015, 06:44:10 PM
 #22205

More whining and FUD from the buggy-whip making Luddites:
Quote
Bitcoin’s lien problem

Part of the BitcoinMania series

http://ftalphaville.ft.com/2015/03/24/2122678/bitcoins-lien-problem/

Quote
At cryptocurrency and fintech conferences, FT Alphaville often hears Bitcoin enthusiasts make the assertion that Bitcoin is superior to fiat currency because it eliminates debt from the monetary system.

But this, of course, is a fallacy.

Bitcoin may have the potential to create a fully-funded reserve system, but it certainly doesn’t eliminate debt from any system.

At best, Bitcoin’s public ledger records a transfer of digital access rights in the eyes of the clearing network. It does not, however, record or see the terms and conditions of that transfer...

paywall.  how bout posting the article?
79b79aa8d5047da6d3XX
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March 24, 2015, 07:51:05 PM
 #22206

Does anybody know what happened to the Chicago Sun Times accepting BTC micropayments?

I would certainly pay 0.0005 BTC for reading that FT article.


EDIT: Incredibly, this is being discussed today on /r/Bitcoin, with people from the WSJ and CST chiming in.
http://www.reddit.com/r/Bitcoin/comments/302q8s/can_wsj_please_allow_bitcoin_microtransactions_to/
cypherdoc
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March 25, 2015, 12:50:22 AM
 #22207

what a bunch of whiny bitches:

In particular, Mr Browne pointed to virtual currencies such as Bitcoin, which he said had raised concerns about money laundering, since Bitcoin companies are not subject to the same anti-laundering legislation as banks.


http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11490145/Banks-vulnerable-to-liquidity-squeeze-as-digital-shift-hastens-capital-flight.html
cypherdoc
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March 25, 2015, 12:51:51 AM
 #22208

rocks
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March 25, 2015, 01:55:59 AM
 #22209


Yesterday it was the same with gold, they didn't outlaw gold per se, instead they said you had to transfer gold to the gov who gave you an equivalent amount of dollars that were the same as gold, that they could now track within the banks.

Today it is the same with cash, they are not outlawing cash, but any amount or transaction above a nominal amount has to be kept in electronic form in bank accounts, enabling full tracking and ownership by the government, this is today. They could easily legislate this for bitcoin.


They were able to introduce paper dollars because these are, in many ways, better than gold coins; then they were able to introduce electronic dollars because these are, in many ways, better than paper dollars. But this works as long as the new system reduces friction in payments. Now the game is over.

Agree with you, that is why I am here and invested. But I'd characterize bitcoin as "having a fighting chance" because the system reduces friction, not that "the game is over". It will be a long battle, and they haven't even started to use the various tools at their disposal.
majamalu
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March 25, 2015, 03:08:47 AM
 #22210


Yesterday it was the same with gold, they didn't outlaw gold per se, instead they said you had to transfer gold to the gov who gave you an equivalent amount of dollars that were the same as gold, that they could now track within the banks.

Today it is the same with cash, they are not outlawing cash, but any amount or transaction above a nominal amount has to be kept in electronic form in bank accounts, enabling full tracking and ownership by the government, this is today. They could easily legislate this for bitcoin.


They were able to introduce paper dollars because these are, in many ways, better than gold coins; then they were able to introduce electronic dollars because these are, in many ways, better than paper dollars. But this works as long as the new system reduces friction in payments. Now the game is over.

Agree with you, that is why I am here and invested. But I'd characterize bitcoin as "having a fighting chance" because the system reduces friction, not that "the game is over". It will be a long battle, and they haven't even started to use the various tools at their disposal.

If they didn't destroy Bitcoin is not because they never wanted to, but because they can't. Look at what they did to centralized monetary systems far smaller than Bitcoin.

My guess is they are silently migrating their own wealth to Bitcoin before full legalization. But you are right: there's no way to know for sure.

http://elbitcoin.org - Bitcoin en español
http://mercadobitcoin.com - MercadoBitcoin
cypherdoc
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March 25, 2015, 04:36:14 AM
 #22211


Yesterday it was the same with gold, they didn't outlaw gold per se, instead they said you had to transfer gold to the gov who gave you an equivalent amount of dollars that were the same as gold, that they could now track within the banks.

Today it is the same with cash, they are not outlawing cash, but any amount or transaction above a nominal amount has to be kept in electronic form in bank accounts, enabling full tracking and ownership by the government, this is today. They could easily legislate this for bitcoin.


They were able to introduce paper dollars because these are, in many ways, better than gold coins; then they were able to introduce electronic dollars because these are, in many ways, better than paper dollars. But this works as long as the new system reduces friction in payments. Now the game is over.

Agree with you, that is why I am here and invested. But I'd characterize bitcoin as "having a fighting chance" because the system reduces friction, not that "the game is over". It will be a long battle, and they haven't even started to use the various tools at their disposal.

If they didn't destroy Bitcoin is not because they never wanted to, but because they can't. Look at what they did to centralized monetary systems far smaller than Bitcoin.

My guess is they are silently migrating their own wealth to Bitcoin before full legalization. But you are right: there's no way to know for sure.

sometimes it's hard for ppl to recognize that which sits right before their very faces.  step back and look to those far corners of the Earth where Bitcoin has spread.
silverfuture
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March 25, 2015, 12:15:38 PM
 #22212




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Wandererfromthenorth
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March 25, 2015, 02:09:31 PM
 #22213

If they didn't destroy Bitcoin is not because they never wanted to, but because they can't.
They can't?

1: Spend the necessary capital to 51% attack the network. Destroy it.
Good luck creating another bitcoin that people will trust after that.



2: Wire $20M-$50M on various bitcoin exchanges and short it down to single digits and beyond in one go totally destroying confidence.
Currently there are around $15M in bids (lol) on all major exchanges combined and plenty of longs that can be completely margin called ($23M+ on bitfinex alone for example), it should be fairly easy.

Not only $20M-$50M is nothing for them if they are inclined in "killing" BTC, they would also make a very good profit on top of it.


They could destroy bitcoin is they wanted to. Thing is, they probably DGAF.
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March 25, 2015, 03:23:44 PM
 #22214

2: Wire $20M-$50M on various bitcoin exchanges and short it down to single digits and beyond in one go totally destroying confidence.
Currently there are around $15M in bids (lol) on all major exchanges combined and plenty of longs that can be completely margin called ($23M+ on bitfinex alone for example), it should be fairly easy.
Not only $20M-$50M is nothing for them if they are inclined in "killing" BTC, they would also make a very good profit on top of it.
yeah, if ever something like that were to occur, BTC would be finished for sure...   Roll Eyes



Inb4 "This Time is DifferentTM "
jmw74
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March 25, 2015, 03:25:55 PM
 #22215

If they didn't destroy Bitcoin is not because they never wanted to, but because they can't.
They can't?

1: Spend the necessary capital to 51% attack the network. Destroy it.
Good luck creating another bitcoin that people will trust after that.

2: Wire $20M-$50M on various bitcoin exchanges and short it down to single digits and beyond in one go totally destroying confidence.
Currently there are around $15M in bids (lol) on all major exchanges combined and plenty of longs that can be completely margin called ($23M+ on bitfinex alone for example), it should be fairly easy.

Not only $20M-$50M is nothing for them if they are inclined in "killing" BTC, they would also make a very good profit on top of it.


They could destroy bitcoin is they wanted to. Thing is, they probably DGAF.


That won't destroy bitcoin, it will just make its user base smaller in the short term.

From there it will grow again. It has to, it's too useful to just "go away".

Bitcoin (the neutral money concept) can't be destroyed as long as there's a group of people who desire it. I don't think people will stop desiring it, ever.

Attacks from the state (propaganda, threats, DOS) may prevent bitcoin from going fully mainstream, but even if it remains niche, it will likely be a larger niche than it occupies today.
Wandererfromthenorth
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March 25, 2015, 03:31:15 PM
 #22216

2: Wire $20M-$50M on various bitcoin exchanges and short it down to single digits and beyond in one go totally destroying confidence.
Currently there are around $15M in bids (lol) on all major exchanges combined and plenty of longs that can be completely margin called ($23M+ on bitfinex alone for example), it should be fairly easy.
Not only $20M-$50M is nothing for them if they are inclined in "killing" BTC, they would also make a very good profit on top of it.
yeah, if ever something like that were to occur, BTC would be finished for sure...   Roll Eyes



Inb4 "This Time is DifferentTM "
Are you serious?

So you think that crashing from $0.06 to $0.01 in the early days (for just a few moments) when BTC was traded by a handful of people at mtgox with a few k of trading volume and crashing to say single digits now after having reached $1200 and having stayed in triple digit range for more than a year are pretty much the same thing?

Are you for real


Because yeah, if somebody uses $20M to short BTC to single digits in a few weeks/months and keeping it there for a decent amount of time, confidence is not killed. Bitcoin eventually recovers and everything is just fine.
Sure Roll Eyes
lunarboy
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March 25, 2015, 03:37:50 PM
 #22217

If it went down that far i'd buy 21 mill  Huh
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March 25, 2015, 03:59:51 PM
 #22218

2: Wire $20M-$50M on various bitcoin exchanges and short it down to single digits and beyond in one go totally destroying confidence.
Currently there are around $15M in bids (lol) on all major exchanges combined and plenty of longs that can be completely margin called ($23M+ on bitfinex alone for example), it should be fairly easy.
Not only $20M-$50M is nothing for them if they are inclined in "killing" BTC, they would also make a very good profit on top of it.
yeah, if ever something like that were to occur, BTC would be finished for sure...   Roll Eyes



Inb4 "This Time is DifferentTM "
Are you serious?

So you think that crashing from $0.06 to $0.01 in the early days (for just a few moments) when BTC was traded by a handful of people at mtgox with a few k of trading volume and crashing to say single digits now after having reached $1200 and having stayed in triple digit range for more than a year are pretty much the same thing?

Are you for real


Because yeah, if somebody uses $20M to short BTC to single digits in a few weeks/months and keeping it there for a decent amount of time, confidence is not killed. Bitcoin eventually recovers and everything is just fine.
Sure Roll Eyes
God you people are predictable.
cypherdoc
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March 25, 2015, 04:03:02 PM
 #22219

If they didn't destroy Bitcoin is not because they never wanted to, but because they can't.
They can't?

1: Spend the necessary capital to 51% attack the network. Destroy it.
Good luck creating another bitcoin that people will trust after that.



2: Wire $20M-$50M on various bitcoin exchanges and short it down to single digits and beyond in one go totally destroying confidence.
Currently there are around $15M in bids (lol) on all major exchanges combined and plenty of longs that can be completely margin called ($23M+ on bitfinex alone for example), it should be fairly easy.

Not only $20M-$50M is nothing for them if they are inclined in "killing" BTC, they would also make a very good profit on top of it.


They could destroy bitcoin is they wanted to. Thing is, they probably DGAF.


for someone who claims not to be a newbie troll, you sure argue like it.

these issues have been discussed ad nauseum since day 1 2009.  i won't bother with the 51% attack since it hasn't happened and probably never will.  too much effort for lazy fiat artists who would rather manipulate than actually work.  while they could try to short it down using the few exchanges that do allow it, they would be taking huge risk in leaving such large amounts on exchanges presumably unfriendly to their cause and overseas.  audits will help prevent this along with the risk of these centralized exchanges being hacked or shut down like Evo walking off with all their funds.  if that ever happened, lots of heads would roll at these 3 letter agencies or banks.  there's no printing of BTC to bail them out either.
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March 25, 2015, 04:07:56 PM
 #22220

for someone who claims not to be a newbie troll, you sure argue like it.

these issues have been discussed ad nauseum since day 1 2009.  i won't bother with the 51% attack since it hasn't happened and probably never will.  too much effort for lazy fiat artists who would rather manipulate than actually work.  while they could try to short it down using the few exchanges that do allow it, they would be taking huge risk in leaving such large amounts on exchanges presumably unfriendly to their cause and overseas.  audits will help prevent this along with the risk of these centralized exchanges being hacked or shut down like Evo walking off with all their funds.  if that ever happened, lots of heads would roll at these 3 letter agencies or banks.  there's no printing of BTC to bail them out either.
The lower you drive the price, the more ammo you give to your 'opponents'.   Great strategy he is proposing  Roll Eyes.  Well I guess it could work if the world only contained panicking headless chicken-types and no determined investors.
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