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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1808731 times)
Melbustus
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June 13, 2014, 03:34:04 PM
 #8681

The Feds sale of btc  is  great news for fungibility.


Yes and no. I've noted that large potential investors may be specifically interested in this sale since it's gov-approved bitcoin. But if that's true, then these are "special" bitcoins right now...

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
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cypherdoc
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June 13, 2014, 03:58:17 PM
 #8682

The Feds sale of btc  is  great news for fungibility.


Yes and no. I've noted that large potential investors may be specifically interested in this sale since it's gov-approved bitcoin. But if that's true, then these are "special" bitcoins right now...

But there's an inherent contradiction in the gov't position if they sell for profit these tainted drug coins which was the premise on which they snatched them in the first place and their argument that the rest of us can't transact in tainted coins.
Melbustus
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June 13, 2014, 04:04:18 PM
 #8683

The Feds sale of btc  is  great news for fungibility.


Yes and no. I've noted that large potential investors may be specifically interested in this sale since it's gov-approved bitcoin. But if that's true, then these are "special" bitcoins right now...

But there's an inherent contradiction in the gov't position if they sell for profit these tainted drug coins which was the premise on which they snatched them in the first place and their argument that the rest of us can't transact in tainted coins.


Oh, I hear ya... The irony is not lost on me.

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
Bernard Lerring
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June 13, 2014, 04:32:01 PM
 #8684


But there's an inherent contradiction in the gov't position if they sell for profit these tainted drug coins which was the premise on which they snatched them in the first place and their argument that the rest of us can't transact in tainted coins.

Isn't it against the law to profit from drugs/money seized from criminal activity?

Shouldn't the coins be burned (i.e. private keys wiped forever) or are the proceeds from this sale going to good use, such as an addiction charity?

The cops are legally obliged to incinerate drugs and drug money, aren't they?

I'm not getting on some kind of moral high horse, here. I was a member of Silk Road back in the day but it doesn't seem right that they would gain from this.
cypherdoc
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June 13, 2014, 04:34:21 PM
 #8685

Have used Uber twice now while on vacation.

Great service with courteous drivers and reasonable if not cheaper cost. The drivers also understand the economic reality of what's happening.
Melbustus
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June 13, 2014, 04:38:27 PM
 #8686

Have used Uber twice now while on vacation.

Great service with courteous drivers and reasonable if not cheaper cost. The drivers also understand the economic reality of what's happening.


Did you pitch bitcoin to them? Wink

Agree that Uber is good. I find the protests in Europe ridiculous. And it's more than a little funny that Uber signups in London were up 850% due to the protests. People will look back in a few years and wonder what all the fuss was about, given how obvious and inevitable services like Uber are.

<back-on-topic>Same with the rotation from gold to bitcoin.

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
bitgold
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June 13, 2014, 04:41:43 PM
 #8687

Have used Uber twice now while on vacation.

Great service with courteous drivers and reasonable if not cheaper cost. The drivers also understand the economic reality of what's happening.
Uber is good, bitcoin is great.
Adrian-x
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June 13, 2014, 04:54:39 PM
 #8688

Have used Uber twice now while on vacation.

Great service with courteous drivers and reasonable if not cheaper cost. The drivers also understand the economic reality of what's happening.
Uber is good, bitcoin is great.

Next Up the taxi wars. I LOL’ed rolled my eyes every time I read a headlines “X killed taxi war”, yes crazy but when these taxi drivers start killing passengers to maintain their monopolies, you get an idea why people like the state to intervene.   

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Erdogan
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June 13, 2014, 06:09:00 PM
 #8689

Have used Uber twice now while on vacation.

Great service with courteous drivers and reasonable if not cheaper cost. The drivers also understand the economic reality of what's happening.
Uber is good, bitcoin is great.

Next Up the taxi wars. I LOL’ed rolled my eyes every time I read a headlines “X killed taxi war”, yes crazy but when these taxi drivers start killing passengers to maintain their monopolies, you get an idea why people like the state to intervene.   

You have that inside out. The state intervened in the free market to give some friends a monopoly.

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June 13, 2014, 06:56:00 PM
 #8690

Have used Uber twice now while on vacation.

Great service with courteous drivers and reasonable if not cheaper cost. The drivers also understand the economic reality of what's happening.
Uber is good, bitcoin is great.

Next Up the taxi wars. I LOL’ed rolled my eyes every time I read a headlines “X killed taxi war”, yes crazy but when these taxi drivers start killing passengers to maintain their monopolies, you get an idea why people like the state to intervene.  

You have that inside out. The state intervened in the free market to give some friends a monopoly.


That’s almost how Wikipedia puts it, I don’t think I have it the wrong way round, I’d agree the problem was exacerbated by the state but until the mid 80’s taxi’s for practical purposes didn’t exist.  

Sanctions made cars or minibus taxi's unaffordable to the masses, so in effect the free market was oppressed by law and sanctions, if you were a laborer you had to use the monopoly PUTCO to get around. Taxi’s only served a minority and became viable for the masses in the mid 80 with the production of the Toyota HiAce.

After the mid 80’s ever tom dick and harry bought a HiAce when Toyota started making them in South Africa, the result was a flood of entrepreneurs started called themselves taxi drivers, and by the late 80’ the market was saturated, and competition drove out profit. If there ever was a taxi monopoly, no one in South Africa cared and it was never part of the race, they were left behind at the start with the production of the HiAce. What resulted was a gold rush and after market saturation it was taxi gang warfare, called informal associations, then the state intervened in the free market to give some "friends" a monopoly, but they weren't friends, it was still apartheid.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
tvbcof
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June 14, 2014, 06:56:26 PM
 #8691

The Feds sale of btc  is  great news for fungibility.

Yes and no. I've noted that large potential investors may be specifically interested in this sale since it's gov-approved bitcoin. But if that's true, then these are "special" bitcoins right now...

Quite a good point.  It will be very interesting to know what these BTC sell for if that info is public.  Especially whether they command a premium or not.  It will also be interesting to see if they are tagged differently a-la the 'enjoy/sochi' methods.


tvbcof
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June 14, 2014, 07:00:52 PM
 #8692

The Feds sale of btc  is  great news for fungibility.

Yes and no. I've noted that large potential investors may be specifically interested in this sale since it's gov-approved bitcoin. But if that's true, then these are "special" bitcoins right now...

But there's an inherent contradiction in the gov't position if they sell for profit these tainted drug coins which was the premise on which they snatched them in the first place and their argument that the rest of us can't transact in tainted coins.

Not at all.  Taint is not an issue.  The important thing is control of taint.  Obviously there will be mechanisms to remove it.  That'll be the incentive to register and pay one's taxes and so forth.  Eventually.  This will be ratcheted in over time of course.


Melbustus
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June 15, 2014, 05:33:16 AM
 #8693

Interesting way for a (fairly) mainstream publication to start a bitcoin piece:

Quote from: entrepreneur.com
By now you know enough about Bitcoin to want in, but you’re not sure how to get some of your own...

"A Beginner's Guide to Owning Bitcoin" - http://www.entrepreneur.com/article/234742

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
pastet89
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June 15, 2014, 09:03:57 AM
 #8694

Gold will collapse to the price of nothing till the end of the world, there is a prophety from a Christian saint for this. He said that in 19th century, so far predictions looking correct.  Tongue
cypherdoc
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June 15, 2014, 10:04:13 AM
 #8695

The Feds sale of btc  is  great news for fungibility.

Yes and no. I've noted that large potential investors may be specifically interested in this sale since it's gov-approved bitcoin. But if that's true, then these are "special" bitcoins right now...

But there's an inherent contradiction in the gov't position if they sell for profit these tainted drug coins which was the premise on which they snatched them in the first place and their argument that the rest of us can't transact in tainted coins.

Not at all.  Taint is not an issue.  The important thing is control of taint.  Obviously there will be mechanisms to remove it.  That'll be the incentive to register and pay one's taxes and so forth.  Eventually.  This will be ratcheted in over time of course.



More idiotic socialist drivel from you.

Why are you even in Bitcoin? You don't seem  to understand what is being attempted here. If you give gov't the right to be the final arbiter about which  coins are clean versus which are tainted, you've lost any advantage over fiat.

You might as well admit you're an opportunist. And don't come back with some bs about being a pragmatist.
rebuilder
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June 15, 2014, 11:21:45 AM
 #8696

The Feds sale of btc  is  great news for fungibility.


Yes and no. I've noted that large potential investors may be specifically interested in this sale since it's gov-approved bitcoin. But if that's true, then these are "special" bitcoins right now...

But there's an inherent contradiction in the gov't position if they sell for profit these tainted drug coins which was the premise on which they snatched them in the first place and their argument that the rest of us can't transact in tainted coins.

I must have missed something, where did the gov't make  any claim about taint?

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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Erdogan
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June 15, 2014, 11:59:10 AM
 #8697

The Feds sale of btc  is  great news for fungibility.


Yes and no. I've noted that large potential investors may be specifically interested in this sale since it's gov-approved bitcoin. But if that's true, then these are "special" bitcoins right now...

But there's an inherent contradiction in the gov't position if they sell for profit these tainted drug coins which was the premise on which they snatched them in the first place and their argument that the rest of us can't transact in tainted coins.

I must have missed something, where did the gov't make  any claim about taint?

It was not said on this occasion, but generally governments will confiscate money that is earned by criminal actions, even if it is not the criminal, but some other, non convicted, party that currently have them. The confiscated money  can then be spent by the governments. It is a double standard and it is not right.

 
cypherdoc
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June 15, 2014, 05:53:30 PM
 #8698

Forget ghash.

Apple's making good:

http://www.coindesk.com/bitcoin-wallet-apps-re-enter-ios-store-apples-digital-currency-policy-shift/
bitcoinsrus
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June 15, 2014, 06:23:30 PM
 #8699

Its what steve jobs would have wanted  Grin
rebuilder
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June 15, 2014, 06:38:35 PM
 #8700

Erdogan: Governments confiscating assets and taint seem like entirely different things to me. I read cypherdoc's post as implying a US Government agency has stated they will consider some bitcoins illegal to use due to their having reviously been associated with activities frowned upon by the US gov't. That's what I'd like clarified - has such a statement been made, and where?

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
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