Gold collapsing. Bitcoin UP.

[Raize]

I am a firm believer in Casascius coins. Mike did one of the first big steps in publicly and loudly attaching his name to a Bitcoin project. It's enough that I've spent over 150 btc on his coins for both numismatic and collection purposes.

The 5 btc coins are great for showing off what Bitcoin is to people that cannot grasp the concept of digital money. They can see and feel it, and the metal doesn't fade like the brass tokens that make up the 1 BTC pieces.

I still don't know of a way to prevent the public firstbits address from eventually fading due to regular use and wear and tear, but the concept is more important than the functionality right now. When people see something physical they can relate to it being called or referred to as "money" and won't immediately dismiss it.

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[cypherdoc]

I am a firm believer in Casascius coins. Mike did one of the first big steps in publicly and loudly attaching his name to a Bitcoin project. It's enough that I've spent over 150 btc on his coins for both numismatic and collection purposes.

The 5 btc coins are great for showing off what Bitcoin is to people that cannot grasp the concept of digital money. They can see and feel it, and the metal doesn't fade like the brass tokens that make up the 1 BTC pieces.

I still don't know of a way to prevent the public firstbits address from eventually fading due to regular use and wear and tear, but the concept is more important than the functionality right now. When people see something physical they can relate to it being called or referred to as "money" and won't immediately dismiss it.

i own alot of these too.  mostly for numismatic value and for future trading when Bitcoin clears $100    i also own the first Bitcoin Watch  ever made by Trader Steve's company.  It's very cool.

[World]

nice

https://bitcointalk.org/index.php?topic=32811.0;all

[cypherdoc]

Gold:  -5%

Bitcoin:  +126%

Difference:  +131%  advantage Bitcoin.

i'm so glad i sold my silver and gold for Bitcoin.

[cypherdoc]

Man, i was just thinking about that post of the Japanese starting to buy Bitcoin.  how many here  have heard of the Ms. Watanabe effect?  Japanese housewives trading foreign currencies from their homes when their husbands went to work has/had been a huge part of the Yen carry trade.  the only thing the Japanese CB seems to know how to do better than the Fed is print.  this has been going on for DECADES.  they're the only ones who make Benny seem tame.

so what if Ms. Watanabe starts or has come to Bitcoin?  it boggles the mind.  

[dopamine]

Gold bugs here is your answer http://blog.tenthamendmentcenter.com/2012/08/peter-schiff-opens-hard-money-bank/

not available to US customer, but still this is the future, well bitcoin is the future.

and if bitcoins had a debt card option, OMG the price of bitcoins would be 10 folds, anyone interested in starting a bitcoin debt card?

[Hexadecibel]

Gold bugs here is your answer http://blog.tenthamendmentcenter.com/2012/08/peter-schiff-opens-hard-money-bank/

not available to US customer, but still this is the future, well bitcoin is the future.

and if bitcoins had a debt card option, OMG the price of bitcoins would be 10 folds, anyone interested in starting a bitcoin debt card?

I don't understand why more effort hasn't been made in making bitcoins more easily obtained. Bitinstant is great but I still have to haul my butt out of my chair and drive to the bank...

[cypherdoc]

Bitcoin presents a nasty choice for traditional financial institutions and govt's.  do they embrace or attack it?

and now that the most feared means of attack appears to be in question:  http://gavintech.blogspot.com/2012/05/neutralizing-51-attack.html.  this post by Gavin raises the stakes considerably for it no longer is a case of some unlimited funds attacker building a farm and trampling all over Bitcoin.  the fact that it may be possible for the network to fend off this attack will cause any attacker now to pause and consider not only the financial ramifications but also the political.

if they fail, everyone will know about it and the identity of the attacker will most likely come out.  failure will be catastrophic in that ppl will become even more emboldened to invest in the currency that withstood the attack from "x" govt or "y" financial institution and could ultimately be the coup d'etat of fiat currency or MOAR.

[miscreanity]

Today saw an interesting signal - normally the gold-silver ratio rises, or moves in favor of gold during price management. This time, the ratio unequivocally moved in favor of silver during the takedown.

Bitcoin presents a nasty choice for traditional financial institutions and govt's.  do they embrace or attack it?

In the end, there is only one path...

You can never step into the same river; for new waters are always flowing on to you.
~Heraclitus of Ephesus

[ElectricMucus]

Bitcoin presents a nasty choice for traditional financial institutions and govt's.  do they embrace or attack it?

and now that the most feared means of attack appears to be in question:  http://gavintech.blogspot.com/2012/05/neutralizing-51-attack.html.  this post by Gavin raises the stakes considerably for it no longer is a case of some unlimited funds attacker building a farm and trampling all over Bitcoin.  the fact that it may be possible for the network to fend off this attack will cause any attacker now to pause and consider not only the financial ramifications but also the political.

if they fail, everyone will know about it and the identity of the attacker will most likely come out.  failure will be catastrophic in that ppl will become even more emboldened to invest in the currency that withstood the attack from "x" govt or "y" financial institution and could ultimately be the coup d'etat of fiat currency or MOAR.

The biggest threat is still propaganda it has been since the dawn of civilization.  In order for bitcoin to become unstoppable it needs to become impervious to it.

[oakpacific]

Bitcoin presents a nasty choice for traditional financial institutions and govt's.  do they embrace or attack it?

and now that the most feared means of attack appears to be in question:  http://gavintech.blogspot.com/2012/05/neutralizing-51-attack.html.  this post by Gavin raises the stakes considerably for it no longer is a case of some unlimited funds attacker building a farm and trampling all over Bitcoin.  the fact that it may be possible for the network to fend off this attack will cause any attacker now to pause and consider not only the financial ramifications but also the political.

if they fail, everyone will know about it and the identity of the attacker will most likely come out.  failure will be catastrophic in that ppl will become even more emboldened to invest in the currency that withstood the attack from "x" govt or "y" financial institution and could ultimately be the coup d'etat of fiat currency or MOAR.

The biggest threat is still propaganda it has been since the dawn of civilization.  In order for bitcoin to become unstoppable it needs to become impervious to it.

Moreover, you can't expect a Joe Sixpack to be well-informed with all the fundamental tech aspects of the Bitcoin, a cult-like sentiment needs to be developed among the mass if they are to adopt it.

[molecular]

Gold bugs here is your answer http://blog.tenthamendmentcenter.com/2012/08/peter-schiff-opens-hard-money-bank/

not available to US customer, but still this is the future, well bitcoin is the future.

and if bitcoins had a debt card option, OMG the price of bitcoins would be 10 folds, anyone interested in starting a bitcoin debt card?

I don't understand why more effort hasn't been made in making bitcoins more easily obtained. Bitinstant is great but I still have to haul my butt out of my chair and drive to the bank...

Just been invited for a beer by some dude that found me through localbitcoins.com to sell him some coinage. I still have to 'haul my ass', but getting to talk to a fellow coiner in real life sure beats the hassles and insurities of gox & co. Also: no paper trail except in the blockchain.

[cypherdoc]

Gold:  -5%

Bitcoin:  +135%

Difference:  +140% advantage Bitcoin

 

[cypherdoc]

anybody wanna buy 24 oz of gold?

[Carlton Banks]

Gold is not going up. It's the dollar that's losing value.

If anything in the marketplace should be the yardstick of value, it is gold, not USD. So you should price USD in terms of gold and you will see a very different picture. Don't let the "upward run" of gold deceive you. Gold isn't changing, the dollars are.

I am so glad someone else is making this point (albeit months ago). Bitcoin detractors have a tendency to invoke the price instability argument, and of course until the price becomes more stable, that will continue to be a valid criticism. But when you look at it from a similarly obverse perspective to your argument regrding gold price non-volatility, you could equally argue that the price stability we have with fiat priced goods is a similar illusion, and that they too fluctuate wildly in value when you measure their price in a unit that maintains it's intrinsic value over time.

Bitcoins are arguably no more valuable now than they were when Satoshi made the genesis block. The difference now is that more people believe in their value. Back then, Satoshi already knew how much they were really worth, and he was the only one who possibly could have. Because in the end, 1 BTC will always have a value of 1 BTC  

Money is a strange class of value storage. Belief in it's value is far more important than any inherent qualities it posseses (witness the current situation for all the evidence you need of that)

[miscreanity]

anybody wanna buy 24 oz of gold?

Paulson, Soros Add Gold as Price Declines Most Since 2008

Why throw away a potential lifeline? Burning bridges is a poor practice.

[cypherdoc]

anybody wanna buy 24 oz of gold?

Paulson, Soros Add Gold as Price Declines Most Since 2008

Why throw away a potential lifeline? Burning bridges is a poor practice.

but do they know about Bitcoin? 

[smoothie]

anybody wanna buy 24 oz of gold?

Paulson, Soros Add Gold as Price Declines Most Since 2008

Why throw away a potential lifeline? Burning bridges is a poor practice.

but do they know about Bitcoin? 

I think having gold or silver AND bitcoin is a safe bet.

[adamstgBit]

fucking gold line....

i signed up to their site once thinking about buying gold

now they call me once a month trying to MAKE me invest

really annoying.

They just called me again ...

[smoothie]

fucking gold line....

i signed up to their site once thinking about buying gold

now they call me once a month trying to MAKE me invest

really annoying.

They just called me again ...

Gold line is stupid.

Apmex or local shops work better. Try craigslist.