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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1803971 times)
notme
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November 30, 2013, 02:38:33 AM
 #6941

It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.

All other metals have this property.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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oakpacific
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November 30, 2013, 02:49:09 AM
 #6942

It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.

If anything it makes you understanding what fiat really is-debt.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
BitcoinAshley
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November 30, 2013, 03:13:41 AM
 #6943

It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.

All other metals have this property.


Not exactly - because of an obscure clause in U.S. commemorative coin legislation, only platinum can be used to make the fabled "quadrillion dollar coin." So, no other metal has this property  Grin Grin Grin

EDIT: Based on my likely unreliable memory and understanding of the legislation. Also, because Paul Krugman said so (so it must be so)
jojo69
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November 30, 2013, 03:16:02 AM
 #6944

It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.

now that right there is funny

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
oakpacific
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November 30, 2013, 03:20:56 AM
 #6945

The ledger of the gubermint can be changed at will, other than the restriction by some obscure laws, without the backing of real computing power/energy.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
bitcodo
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November 30, 2013, 06:55:41 PM
 #6946

Where do you people from EU buy physical silver. We have 22% tax, so I buy it in Germany - 7% tax. But after new year, tax will go up in Germany too.

Where will be best place to buy physical silver next year in EU?

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November 30, 2013, 06:56:02 PM
 #6947

It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.

All other metals have this property.


Not exactly - because of an obscure clause in U.S. commemorative coin legislation, only platinum can be used to make the fabled "quadrillion dollar coin." So, no other metal has this property  Grin Grin Grin

EDIT: Based on my likely unreliable memory and understanding of the legislation. Also, because Paul Krugman said so (so it must be so)

What? This sounds like the weirdest thing ever. Why would that even be decided on and recorded?

jojo69
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November 30, 2013, 07:02:35 PM
 #6948

What? This sounds like the weirdest thing ever. Why would that even be decided on and recorded?

truth is indeed stranger than fiction

http://www.forbes.com/sites/beltway/2013/01/08/is-the-trillion-dollar-platinum-coin-clever-or-insane/

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
Sword Smith
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November 30, 2013, 07:21:48 PM
 #6949

Where do you people from EU buy physical silver. We have 22% tax, so I buy it in Germany - 7% tax. But after new year, tax will go up in Germany too.

Where will be best place to buy physical silver next year in EU?
Estonia. They are the only country in the EU without VAT on silver. I think forum member rpietila can confirm this.

JTrain_51
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November 30, 2013, 07:23:51 PM
 #6950

Mabye because a bitcoin wallet ways what ( How much does my iphone way )

and how much does gold way like what are you going to walk into a coffee shop and grab some gold out of your pocket
I think bitcoin is alot better than gold because gold just has a great colour Tongue Grin

wachtwoord
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November 30, 2013, 07:24:38 PM
 #6951

What? This sounds like the weirdest thing ever. Why would that even be decided on and recorded?

truth is indeed stranger than fiction

http://www.forbes.com/sites/beltway/2013/01/08/is-the-trillion-dollar-platinum-coin-clever-or-insane/

What bull shit. That would clearly not be aimed at collectors.

jojo69
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November 30, 2013, 07:26:02 PM
 #6952

of course not

that there was even sober discussion on this possibility points out just how absurd and precarious the fiat ponzi has become

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
Hawker
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November 30, 2013, 07:26:27 PM
 #6953

What? This sounds like the weirdest thing ever. Why would that even be decided on and recorded?

truth is indeed stranger than fiction

http://www.forbes.com/sites/beltway/2013/01/08/is-the-trillion-dollar-platinum-coin-clever-or-insane/

What bull shit. That would clearly not be aimed at collectors.

I don't know.  Its won't be long before I can trade 1 btc for that trillion dollar thingy - I'd give it til Christmas Tongue

jojo69
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November 30, 2013, 07:31:39 PM
 #6954

I'll just leave these here

http://www.youtube.com/watch?v=d0nERTFo-Sk

round 2

http://www.youtube.com/watch?v=GTQnarzmTOc

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
tvbcof
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November 30, 2013, 07:59:14 PM
 #6955

What? This sounds like the weirdest thing ever. Why would that even be decided on and recorded?

truth is indeed stranger than fiction

http://www.forbes.com/sites/beltway/2013/01/08/is-the-trillion-dollar-platinum-coin-clever-or-insane/

What bull shit. That would clearly not be aimed at collectors.

lol   and people trust govt debt as "money"

It is especially droll that so many people consider Bitcoin to be so crazy and illegitimate compared to mainstream monetary systems. 

'Problem solving' via Krugman's coin is obviously much poorer engineering than anything in crypto-currency land, and the fact that it would probably be an effective problem solving technique under our political and economic system says a lot...and not much of what it says good for long term individual planning.


neutralist
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November 30, 2013, 08:31:48 PM
 #6956


I think bitcoin is alot better than gold because gold just has a great colour Tongue Grin

In Chinese we use the color of gold to describe something that routinely comes out of your anus.
flynn
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November 30, 2013, 09:11:55 PM
 #6957

In Chinese we use the color of gold to describe something that routinely comes out of your anus.

Now this is interesting. Do you know where that comes from ?

intentionally left blank
notme
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November 30, 2013, 09:13:13 PM
 #6958

In Chinese we use the color of gold to describe something that routinely comes out of your anus.

Now this is interesting. Do you know where that comes from ?

Ancient savings account.  Too much gold now that you might need later?  Down the hatch.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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rpietila
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November 30, 2013, 09:39:25 PM
 #6959

I don't know.  Its won't be long before I can trade 1 btc for that trillion dollar thingy - I'd give it til Christmas Tongue

This.

If government could make a 1oz platinum round worth more than it is in free market (about BTC1 currently), surely they would have eradicated poverty by now..  Roll Eyes

GeniuSxBoY
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November 30, 2013, 09:50:10 PM
 #6960

I traded 1.6 bitcoin for 108.80 ounces of 90% dimes yesterday.
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