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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2032123 times)
blatchcorn
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June 03, 2014, 07:25:29 PM
 #8521

Bitcoin is not money, and not accepted
I have purchased more things with bitcoin than I have with gold.

I don't know a single place that would accept gold as payment.

Gold accept, black and white and yellow people, bitcoin nobody.
wat?
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igorr
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June 03, 2014, 07:27:48 PM
 #8522

Bitcoin is nothing

Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe,
Бpaтcкиx нapoдoв coюз вeкoвoй,
Пpeдкaми дaннaя мyдpocть нapoднaя!
Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
trackermut
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June 03, 2014, 08:55:42 PM
 #8523

Bitcoin is nothing

Nope just checked still 670, dam was going to get some more.
cypherdoc (OP)
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June 03, 2014, 09:18:09 PM
 #8524

Bitcoin is nothing

then why do you spend so much time here trolling?

unless your time is worth nothing.
cypherdoc (OP)
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June 03, 2014, 11:03:35 PM
Last edit: June 03, 2014, 11:43:50 PM by cypherdoc
 #8525

more data on my hypothesis that The Blockchain may only ever be applicable to Bitcoin As Money:

http://www.forbes.com/sites/kashmirhill/2014/06/03/mastercoin-maidsafe-crowdsale/
tabnloz
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June 03, 2014, 11:41:18 PM
 #8526

Bitcoin is not money, and not accepted
I have purchased more things with bitcoin than I have with gold.

I don't know a single place that would accept gold as payment.

Gold accept, black and white and yellow people, bitcoin nobody.
wat?

He may be trolling, but its always good to interpret the trollisms...

Yes, igorr, is correct in his argument. Gold is universal and accepted by everybody.

Bitcoin is not, yet. It is however spreading and the longer it goes without being cracked, the stronger it becomes (both network / protocol and as money).

Without getting into the economic debates of gold v bitcoin, we may just be able to have an 'Igorr' type indicator: each year or month, how much closer is bitcoin to mainstream acceptance?






smoothie
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June 03, 2014, 11:57:10 PM
 #8527

Bitcoin is not money, and not accepted
I have purchased more things with bitcoin than I have with gold.

I don't know a single place that would accept gold as payment.

There are more places that accept Bitcoin then there places that accept gold or silver as payment.

Same here as I've purchased more things with Bitcoin than with either metal.

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LEALANA BITCOIN GRIM REAPER SILVER COINS.
 
zeetubes
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June 04, 2014, 01:47:05 AM
 #8528

Quote from a Coindesk article: "Argentina’s Central Bank Issues Warning to Burgeoning Bitcoin Ecosystem"

http://www.coindesk.com/argentine-central-bank-issues-warning-burgeoning-bitcoin-ecosystem/
 
"The bank, headed by Juan Carlos Fabrega, reiterated that “virtual coins” are not issued by the central bank or any other international monetary authority and, therefore, are not legal tender."

Would that imply that gold and silver aren't legal tender either?
notme
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June 04, 2014, 03:21:55 AM
 #8529

Quote from a Coindesk article: "Argentina’s Central Bank Issues Warning to Burgeoning Bitcoin Ecosystem"

http://www.coindesk.com/argentine-central-bank-issues-warning-burgeoning-bitcoin-ecosystem/
 
"The bank, headed by Juan Carlos Fabrega, reiterated that “virtual coins” are not issued by the central bank or any other international monetary authority and, therefore, are not legal tender."

Would that imply that gold and silver aren't legal tender either?

Yes, but legal tender may not mean what you think it means.  It only matters for abolishing a debt.  See http://en.wikipedia.org/wiki/Legal_tender

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
molecular
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June 04, 2014, 06:13:40 AM
 #8530

Why Bitcoin Is Wonderful (In Two Minutes) - Mike Maloney (gold bull)
https://www.youtube.com/watch?v=XZ4bVgzxp2g

He didn't say that exactly. He said the free market developing alternatives to state-run money is wonderful, not Bitcoin itself.

Still: look how far we've come. Metal blockheads like Maloney speaks positively about Bitcoin. Completely unthinkable just a year ago. I remember how excited I was when James Turk came around and I'm glad Bitcoin is now well-talked about in the precious metal / sound money community.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
cypherdoc (OP)
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June 05, 2014, 02:02:00 PM
 #8531

Here we go:

http://mobile.bloomberg.com/news/2014-06-05/draghi-takes-ecb-deposit-rate-negative-in-historic-move.html

I covered my gold and silver shorts yesterday but will be looking to put them back on after this dead cat bounce.

From the article you can see they hate strengthening currencies. They will also start QE soon.
cypherdoc (OP)
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June 05, 2014, 03:24:31 PM
 #8532

don't forget bail-ins.

and then pension raids.

those will be coming too.  all in the name of propping up debt based speculative investments.
damnek
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June 05, 2014, 04:21:09 PM
 #8533

don't forget bail-ins.

and then pension raids.

those will be coming too.  all in the name of propping up debt based speculative investments.

Just the thought of this makes me so bullish on bitcoin that I can't see straight. The eBay/paypal news is nothing compared to what the Europeans are about to pull  Grin
cypherdoc (OP)
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June 05, 2014, 05:16:03 PM
 #8534

don't forget bail-ins.

and then pension raids.

those will be coming too.  all in the name of propping up debt based speculative investments.

Just the thought of this makes me so bullish on bitcoin that I can't see straight. The eBay/paypal news is nothing compared to what the Europeans are about to pull  Grin

so true.
cypherdoc (OP)
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June 05, 2014, 06:55:28 PM
 #8535

Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp

cypherdoc (OP)
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June 05, 2014, 07:31:48 PM
 #8536

remember that video on Tim Geithner a coupla weeks back?  well, here's more:

Geithner also misleads the reader about the single most important moment of the crisis: when Goldman got bailed out through Federal Reserve loans to AIG. This mattered because it was when the public really began taking over the debts of the financial system, and it’s well documented in the Congressional Oversight Report of June 2010. When AIG was on the verge of going under, exposing every big bank that had bought insurance from them, Geithner had a choice. He could force big banks to share the losses or just bail them out. He chose the bailout. Rather than forcing Goldman and JP Morgan to share in AIG’s loss, to which they were heavily exposed, Geithner took 100 percent of the liability on the New York Fed’s balance sheet. Then, in November of 2008, the Fed bought back underlying securities from Goldman, at par, despite their trading at 50 cents on the dollar. This was a massive funneling of resources to Goldman in particular.

http://www.vice.com/read/tim-geithner-and-the-con-artist-wing-of-the-democratic-party
bitrider
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June 05, 2014, 07:58:27 PM
 #8537

Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp


Great stuff Cypher! I'll hold on to this.
bitrider
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June 05, 2014, 08:00:17 PM
 #8538

don't forget bail-ins.

and then pension raids.

those will be coming too.  all in the name of propping up debt based speculative investments.

Just the thought of this makes me so bullish on bitcoin that I can't see straight. The eBay/paypal news is nothing compared to what the Europeans are about to pull  Grin

Exactly. This almost hurts my face it so bullish. Yikes.
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June 05, 2014, 08:02:29 PM
 #8539

don't forget bail-ins.

and then pension raids.

those will be coming too.  all in the name of propping up debt based speculative investments.


Let's not forget this:

http://www.forbes.com/sites/billfrezza/2013/10/15/the-international-monetary-fund-lays-the-groundwork-for-global-wealth-confiscation/

“The sharp deterioration of the public finances in many countries has revived interest in a “capital levy”— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). … The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away. … The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth. (page 49)”


They're going to either steal it directly (and suddenly!), or indirectly through inflation.

Bitcoin is the exit.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
chriswilmer
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June 05, 2014, 09:29:13 PM
 #8540

This is one of my favorite threads Smiley
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