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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1977882 times)
cypherdoc
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April 15, 2015, 06:28:51 PM
 #22781

There's much to be learned from what's happened to Ripple. I, and others, were always warning of their centralized nature. Yet there were/are legions of  supporters who wish  to believe otherwise.  I always got the sense that they just wanted to be a part of the next big thing. The other thing that always got to me was their incessant pandering to the Bitcoin community, here on the forums, and especially at conferences. Alas, their tech is nothing but an upgrade to the existing systems.

I would submit that the best way to support Bitcoin at this stage is to buy the coin itself. What Bitcoin needs is greater liquidity and with it will come greater stability and growth. It needs a much larger market cap to support all the companies that want to build on top of it.  The merchant build out has been premature.

Once Bitcoin has established itself as a sound, reliable form of money, only then  will it excel to the levels we all want it to achieve.
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rocks
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April 15, 2015, 08:45:59 PM
 #22782

There's much to be learned from what's happened to Ripple. I, and others, were always warning of their centralized nature. Yet there were/are legions of  supporters who wish  to believe otherwise.  I always got the sense that they just wanted to be a part of the next big thing. The other thing that always got to me was their incessant pandering to the Bitcoin community, here on the forums, and especially at conferences. Alas, their tech is nothing but an upgrade to the existing systems.

If bitcoin had ANY centralized actor involved, KYC & money transmitter laws would have been used to shut it down a long time ago.

The fact that bitcoin is still functioning is not due to the state allowing it to function, but a testament to how censorship resilient Satoshi designed bitcoin. Bitcoin will continue to operate with or without the state's consent. In the absence of control, their only avenue to influence bitcoin is through regulation.
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April 15, 2015, 08:53:09 PM
 #22783

There's much to be learned from what's happened to Ripple. I, and others, were always warning of their centralized nature. Yet there were/are legions of  supporters who wish  to believe otherwise.  I always got the sense that they just wanted to be a part of the next big thing. The other thing that always got to me was their incessant pandering to the Bitcoin community, here on the forums, and especially at conferences. Alas, their tech is nothing but an upgrade to the existing systems.

I would submit that the best way to support Bitcoin at this stage is to buy the coin itself. What Bitcoin needs is greater liquidity and with it will come greater stability and growth. It needs a much larger market cap to support all the companies that want to build on top of it.  The merchant build out has been premature.

Once Bitcoin has established itself as a sound, reliable form of money, only then  will it excel to the levels we all want it to achieve.

Do everyone allow this happen if:

Quote
BITCOIN TOP-500: 1-50

1.  BTC980,000*. Satoshi Nakamoto

2.  BTC400,000*. HD Moore (AHA)

3.  BTC400,000*. Dustin D. Trammell (AHA)

4.  BTC400,000*. Tod Beardsley (AHA)

5.  BTC350,000*. "Dread Pirate Roberts" a.k.a. "DPR"

6.  BTC300,000.  Roger Ver

7.  BTC300,000*. "knightmb"

8.  BTC200,000. Mark Karpeles

8.5  BTC182,592. "Loaded"

9.  BTC174,000*. FBI (Federal Bureau of Investigation, USA)

10.  BTC119,000. AsicMiner Management Team of 3 (names?)

11.  BTC110,000. Cameron and Tyler Winklevoss

12.  BTC100,000. "klaus"

13.  BTC100,000. "mezzomix"

14.  BTC75,000. "artforz"

15.  BTC70,000. Erik Voorhees

17.  BTC30,000. "nakowa"

18.  BTC30,000. Mircea Popescu

19.  BTC30,000. "Goat"

20.  BTC25,000. Chamath Palihapitiya

21.  BTC25,000. Gavin Andresen

22.  BTC20,000. Max Keiser

23.  BTC20,000. "Theymos"
ssmc2
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April 15, 2015, 11:27:46 PM
 #22784

https://medium.com/@medialab/launching-a-digital-currency-initiative-238fc678aba2

Hopefully these guys can take the place of the BF.
rocks
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April 16, 2015, 12:09:52 AM
 #22785

Decent interview with Peter Todd who I always appreciate hearing from. He's always had a balanced and realistic view of things IMHO.

https://medium.com/zapchain-magazine/why-one-bitcoin-developer-thinks-cryptocurrencies-have-a-dreadful-future-93007cff1613

His comments on government intervention

Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
cypherdoc
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April 16, 2015, 12:31:41 AM
 #22786

Decent interview with Peter Todd who I always appreciate hearing from. He's always had a balanced and realistic view of things IMHO.

https://medium.com/zapchain-magazine/why-one-bitcoin-developer-thinks-cryptocurrencies-have-a-dreadful-future-93007cff1613

His comments on government intervention

Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).


we're already seeing widespread usage outside the US.  plus, i think their will be plenty of foreign sovereigns who will be more than happy to see the US try to clamp down on Bitcoin as it presents an opportunity for them to unseat the top dog.  this is why China hasn't outright clamped down on it and why the UK is moving forward.
marcus_of_augustus
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April 16, 2015, 12:42:02 AM
 #22787

Quote
I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems

Quote
“Sorry to be a wet blanket. Writing a description [of Bitcoin] for general audiences is bloody hard. There’s nothing to relate it to.”

“If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”


Stop talking to them if they don't get it.

There is no requirement to pander to your lessers.

marcus_of_augustus
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April 16, 2015, 12:45:48 AM
 #22788


I don't see how, they hired some head guy from the Obama admin involved with "IT technologies" who must have overseen the pillorying of Snowden and turned a blind eye to god only knows what other abuses coming out of the NSA, FISA, FBI and Dept. of Justice regarding privacy violations and 4th amendment crimes.

ssmc2
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April 16, 2015, 12:50:49 AM
 #22789


I don't see how, they hired some head guy from the Obama admin involved with "IT technologies" who must have overseen the pillorying of Snowden and turned a blind eye to god only knows what other abuses coming out of the NSA, FISA, FBI and Dept. of Justice regarding privacy violations and 4th amendment crimes.

I'm certainly no fan of the current administration but if what 's in the release below is accurate then he doesn't seem like such a bad guy. Any specific sources you can cite regarding your thoughts?

https://newsoffice.mit.edu/2015/brian-forde-media-lab-director-digital-currency-0415
cypherdoc
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April 16, 2015, 01:02:05 AM
 #22790

despite $DJI green candle today, look at weakness in $DJT:

cypherdoc
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April 16, 2015, 01:04:19 AM
 #22791

gold and Bitcoin rallying.
cypherdoc
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April 16, 2015, 01:18:25 AM
 #22792

to me, there are just 2 remaining levels at which this prolonged 1.5 yr bear mkt will stop; here at final support, or, at a double bottom down near 160.  it's a coin toss but it's possible we've just had the bottom:

marcus_of_augustus
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April 16, 2015, 01:21:47 AM
 #22793


I don't see how, they hired some head guy from the Obama admin involved with "IT technologies" who must have overseen the pillorying of Snowden and turned a blind eye to god only knows what other abuses coming out of the NSA, FISA, FBI and Dept. of Justice regarding privacy violations and 4th amendment crimes.

I'm certainly no fan of the current administration but if what 's in the release below is accurate then he doesn't seem like such a bad guy. Any specific sources you can cite regarding your thoughts?

https://newsoffice.mit.edu/2015/brian-forde-media-lab-director-digital-currency-0415

you missed the Snowden affair? and the charges of traitor from Obama admin? gonna be difficult to whitewash any cowards who weren't running a mile or blowing their own whistles inside that admin I afraid, without looking like just another coward in a long line of apologists supporting the status quo.

cypherdoc
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April 16, 2015, 01:27:22 AM
 #22794

Dollar top?

justusranvier
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April 16, 2015, 01:39:25 AM
 #22795

Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.
rocks
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April 16, 2015, 03:31:14 AM
 #22796

Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.

Which reinforces my point, adding features such as stealth address to clients requires that people directly use bitcoin with their own wallets, and not through centralized services.
maku
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Some big news for [vDice] coming soon


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April 16, 2015, 03:40:12 AM
 #22797

Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.
I fully support idea of stealth addresses but as long as we have fully centralized exchange services which requires us to deliver our full personal data if we want to sell or buy coins we won't be safe.
Government will got our info from crypto exchanges and even with the stealth address we would be fated to pay taxes in the future.

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Let's talk governance, lipstick, and pigs.


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April 16, 2015, 03:51:21 AM
 #22798

Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.
I fully support idea of stealth addresses but as long as we have fully centralized exchange services which requires us to deliver our full personal data if we want to sell or buy coins we won't be safe.
Government will got our info from crypto exchanges and even with the stealth address we would be fated to pay taxes in the future.
It sounds like your government is your problem. That isn't everyone else's problem.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
Cconvert2G36
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April 16, 2015, 03:56:22 AM
 #22799

Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.
I fully support idea of stealth addresses but as long as we have fully centralized exchange services which requires us to deliver our full personal data if we want to sell or buy coins we won't be safe.
Government will got our info from crypto exchanges and even with the stealth address we would be fated to pay taxes in the future.

Realized fiat gains are taxable about anywhere. Just saying you wish you could hide from the taxes is less noble than asking what tax haven island you can move to.
cbeast
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Let's talk governance, lipstick, and pigs.


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April 16, 2015, 04:00:09 AM
 #22800

Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.

Realized fiat gains are taxable about anywhere. Just saying you wish you could hide from the taxes is less noble than asking what tax haven island you can move to.
Nobody is talking about realized fiat gains. That is a strawman. Tax avoidance is not tax evasion. You are always obligated to voluntarily report your gains, of course.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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