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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804141 times)
zeetubes
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May 26, 2014, 08:18:11 AM
 #8361

Rational discussion collapsing. Trolling UP.  Roll Eyes

we are at page 420 of this thread. Relax a bit would ya?

True dat. I am sick to death of the word troll. Let's go back to the good old days of calling people wankers.

Anyway, what should be talked about is the Barclays mini puke revelation. I don't think it's going to kill the manipulation in any way but it's a start.

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May 26, 2014, 09:06:33 AM
 #8362

That chart looks like a correction, but I wouldn't call that a collapse...

It is a fractal, just like BTC. The recent top is same shape but larger than the 2008 top.

I don't know Fractals or TA,

But If I'm doing right assumptions on current Gold price regards to sad macro-economical situation and TPTB dampening on it,

How probable it is that this could be a reversing market trend indicator? 

 I do believe that it should be reversing soon, when USD status as Global Reserve Currency collapses.
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May 26, 2014, 10:51:11 AM
 #8363

Lol. In twenty years there will not be the btc standard at the banks. You are insane.

odds are much much higher for them to use gold.

Hopefully banks as we know them will be no more.

World
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May 26, 2014, 11:02:46 AM
 #8364

http://bitcoinowl.com/how-does-my-bitcoin-price-prediction-2014-holding

Supporting people with beautiful creative ideas. Bitcoin is because of the developers,exchanges,merchants,miners,investors,users,machines and blockchain technologies work together.
igorr
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May 26, 2014, 05:25:24 PM
 #8365

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

Славься, Отечество наше свободное,
Братских народов союз вековой,
Предками данная мудрость народная!
Славься, страна! Мы гордимся тобой!
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May 26, 2014, 06:46:48 PM
 #8366

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

Stop trolling. 

 Is your butt hurt?
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May 26, 2014, 07:02:12 PM
 #8367

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

igorr:  "it stopped, it stopped!!!"

Skele
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May 26, 2014, 07:41:05 PM
 #8368

Gold is is just old.. Gold is not so rare!, besides of the tons of gold outhere , recently some scientist discovered a huge mine near central America.. gold will continue to drop in price

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May 26, 2014, 07:53:37 PM
 #8369

If there was any question that Vitalik Buterin  doesn't understand Bitcoin, here it is:

The reason why having a fixed never-growing supply is undesirable is obvious: it encourages wealth concentration and creates a static community of holders without an effective way for new people to get in, and it means that the coin has no way to incentive any specific kind of activity in the long term.

http://blog.ethereum.org/2014/05/24/on-long-term-cryptocurrency-distribution-models/

Kinda sad really.  
damnek
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May 26, 2014, 08:06:05 PM
 #8370

If there was any question that Vitalik Buterin  doesn't understand Bitcoin, here it is:

The reason why having a fixed never-growing supply is undesirable is obvious: it encourages wealth concentration and creates a static community of holders without an effective way for new people to get in, and it means that the coin has no way to incentive any specific kind of activity in the long term.

http://blog.ethereum.org/2014/05/24/on-long-term-cryptocurrency-distribution-models/

Kinda sad really.  

These techy kids are often completely out of touch with how things work in the real world..

Be a voice, not an echo
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May 26, 2014, 08:10:37 PM
 #8371

If there was any question that Vitalik Buterin  doesn't understand Bitcoin, here it is:

The reason why having a fixed never-growing supply is undesirable is obvious: it encourages wealth concentration and creates a static community of holders without an effective way for new people to get in, and it means that the coin has no way to incentive any specific kind of activity in the long term.

http://blog.ethereum.org/2014/05/24/on-long-term-cryptocurrency-distribution-models/

Kinda sad really.  

Wow, I must say I'm a little surprised. I very much doubt there is any reasonable way to design an issuance system that cannot be gamed by the wealthiest members of any community. I would be very curious to know how he believes their model can prevent such behavior.
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May 26, 2014, 08:16:52 PM
 #8372

These techy kids are often completely out of touch with how things work in the real world..
Actually that statement is true for 99% of the people out there: how many of them understand real economics?

99% of the people still thinks that inflation is good for the economy, and for them.
And that's because they have been told exactly that all their life.

You can't explain that concept to them: you can only show it, and Bitcoin is how.

We'll get our revenge ;-)

Articoli bitcoin: Il portico dipinto
wachtwoord
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May 26, 2014, 08:18:03 PM
 #8373

These techy kids are often completely out of touch with how things work in the real world..
Actually that statement is true for 99% of the people out there: how many of them understand real economics?

99% of the people still thinks that inflation is good for the economy, and for them.
And that's because they have been told exactly that all their life.

You can't explain that concept to them: you can only show it, and Bitcoin is how.

We'll get our revenge ;-)

We'll be proven right. Revenge isn't really necessary Wink

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May 26, 2014, 08:19:50 PM
 #8374

If there was any question that Vitalik Buterin  doesn't understand Bitcoin, here it is:

The reason why having a fixed never-growing supply is undesirable is obvious: it encourages wealth concentration and creates a static community of holders without an effective way for new people to get in, and it means that the coin has no way to incentive any specific kind of activity in the long term.

http://blog.ethereum.org/2014/05/24/on-long-term-cryptocurrency-distribution-models/

Kinda sad really.  

These techy kids are often completely out of touch with how things work in the real world..


Yeah, this is because he's young, not stupid. At least crypto projects have the potential to act as massive (and rapid!) economic experiments which will help make market-dynamics, and really human-nature, more obvious and explicit to more people.

As an aside, it's always irritated me in discussions with bitcoin newbs when they want to focus the conversation on mining and "who gets the new coins". I try to explain that initial distribution is just an implementation detail. The eventual equilibrium state likely does not depend on it (debatable topic, I know, but that's my take).


Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
igorr
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May 26, 2014, 08:21:05 PM
 #8375

I think, the gold need willy bot.  Smiley

Славься, Отечество наше свободное,
Братских народов союз вековой,
Предками данная мудрость народная!
Славься, страна! Мы гордимся тобой!
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May 26, 2014, 08:23:16 PM
 #8376

I think, the gold need willy bot.  Smiley

(paper) Gold has had the opposite bot.

Dusty
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May 26, 2014, 08:23:28 PM
 #8377

[...]
You can't explain that concept to them: you can only show it, and Bitcoin is how.

We'll get our revenge ;-)

We'll be proven right. Revenge isn't really necessary Wink
Revenge is because of being mocked all the time about the deflation/inflation argument.

But you are right: to be proven right is enough ;-)

Articoli bitcoin: Il portico dipinto
cypherdoc
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May 26, 2014, 09:17:51 PM
 #8378


The eventual equilibrium state likely does not depend on it (debatable topic, I know, but that's my take).



no, you are exactly right.

as we approach that equilibrium state the price should level out while at the same time hoarders would have been disgorging coins all along the way up to equilibrium.  then Bitcoin can just become money and not a speculative asset.

the saddest part of Vitalik's argument is that he doesn't even consider the counter argument; what's stopping him from buying coins today?  in his mind they're "too expensive".  well, relative to what?  current growth, future growth?

this is why i continue to say "The Geeks Fail to Understand That which They Hath Created".  not all but most of them.
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May 26, 2014, 09:40:43 PM
 #8379


The eventual equilibrium state likely does not depend on it (debatable topic, I know, but that's my take).



no, you are exactly right.

as we approach that equilibrium state the price should level out while at the same time hoarders would have been disgorging coins all along the way up to equilibrium.  then Bitcoin can just become money and not a speculative asset.

the saddest part of Vitalik's argument is that he doesn't even consider the counter argument; what's stopping him from buying coins today?  in his mind they're "too expensive".  well, relative to what?  current growth, future growth?

this is why i continue to say "The Geeks Fail to Understand That which They Hath Created".  not all but most of them.

The issue with the equilibrium is that there are always new coins being created and destroyed. This makes it hard to come up with a median spot, just like with USD. The value of USD is constantly changing (though we don't always see that in real-time) because of the fluctuating amount of money in existence. Bitcoin just makes these changes much more evident.

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smoothie
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May 26, 2014, 09:52:53 PM
 #8380


The eventual equilibrium state likely does not depend on it (debatable topic, I know, but that's my take).



no, you are exactly right.

as we approach that equilibrium state the price should level out while at the same time hoarders would have been disgorging coins all along the way up to equilibrium.  then Bitcoin can just become money and not a speculative asset.

the saddest part of Vitalik's argument is that he doesn't even consider the counter argument; what's stopping him from buying coins today?  in his mind they're "too expensive".  well, relative to what?  current growth, future growth?

this is why i continue to say "The Geeks Fail to Understand That which They Hath Created".  not all but most of them.

The issue with the equilibrium is that there are always new coins being created and destroyed. This makes it hard to come up with a median spot, just like with USD. The value of USD is constantly changing (though we don't always see that in real-time) because of the fluctuating amount of money in existence. Bitcoin just makes these changes much more evident.

The amount of BTC created to USD created is miniscule. No comparison.

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