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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1807624 times)
cypherdoc
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June 18, 2014, 09:10:50 PM
 #8781


Who's lying now?

Since your memory seems to be failing you, the recommendation was to use Mycelium cold storage to access small amounts of spendable Bitcoin one can carry around in their physical  wallet on a QR code.  This was in response to your unfound claim that one's bitcoins aren't accessible. Yet another misunderstanding of how bitcoin works on your part.

You didn't specify 'small amounts of spendable Bitcoin'.  You said you access cold storage from your Android in a response to my saying that, yes, bitcoin hoards can be made secure at the expense of making them as user un-friendly as one's gold hoard and that many people have come to lament Bitcoin's 'ease of use' when they get their stash ripped off.

My point was, again, that I sleep well at night because even I cannot get to most of my stash without a bunch of planning and time.  Just like with my gold.  And this mitigates some of Bitcoin's advantages.  You tried to downplay that by saying that you could send me BTC within a minute from your cold storage through the magic of Android and a piece of paper in your wallet.  It makes no sense if you are talking about trivial sums.  And it is kinda stupid if one is talking about large sums.



clearly you don't want to link back to those conversations b/c it must be so embarrassing to you to demonstrate such a lack of knowledge on how a Bitcoin address is constructed not to mention how blatantly you've tried to distort what i said.
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June 18, 2014, 09:25:19 PM
 #8782


That reminds me of when you were using the '$' unit identifier on the unitless USDX metric.  Quite unbecoming of a macro-economic guru who confidently predicts that BTC will be the new worlds reserve currency.

I don't recall your ever thanking me for inducing you to finally stop embarrassing yourself on a daily basis.  Possibly I just missed it though.


source please?

https://bitcointalk.org/index.php?topic=68655.msg903068#msg903068

the only one embarrassing himself is you bud.  the BTC/gold metric has skyrocketed since this thread began all the while you hyping gold.  your negative returns on gold must hurt.

and btw, please provide several quotes of you being so bullish on BTC back near the bottom in 2011. 

I'm tired of doing all the work for you.  Learn to write a scraper and use grep if you want to solve some of your research deficiencies.

BTW, the 'cold storage via Android' conversation which merged into my learning that addresses do have a checksum after all got going around Jan 27 or this year and lasted a few days.  Eventually you did back-track and say that you didn't really store that much on your person and could not send off your you stash within on minute.  Which effectively made my point.


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June 18, 2014, 09:37:48 PM
 #8783



I'm tired of doing all the work for you.  Learn to write a scraper and use grep if you want to solve some of your research deficiencies.

BTW, the 'cold storage via Android' conversation which merged into my learning that addresses do have a checksum after all got going around Jan 27 or this year and lasted a few days.  Eventually you did back-track and say that you didn't really store that much on your person and could not send off your you stash within on minute.  Which effectively made my point.



i'm not the one making the claims.  you are. 
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June 18, 2014, 09:42:24 PM
 #8784

as far as my subs were concerned, they were offered a choice, buy a miner or don't.  nothing was forced upon them.  everyone has to do their own research and calculations and consider their own circumstances.  it's like all the other advice i give in the newsletter; you can choose to follow or not.  vokain above forgot to mention that in January i recommended to him personally via email that he get a refund while he had the opportunity to get one; he declined to do so and we see the results of that.

This was my choice and that's fine, I stand by that and I hope the bankruptcy will proceed okay, though I've never been part of this shit before... but on the bright side it's been a stimulating game so far. But anyway, in the interests of being forthright I have to clarify this above statement. Cypherdoc, you were a compensated representative of Hashfast at one point. There was some conflict of interest in the trust your subscribers had for you and your affiliation with that company though our end goals and interests were more or less aligned.

Regardless, the whole point of purchasing miners at that point was so that I could make more bitcoins off the bitcoins I would invest. If everything worked out, everything would've been dandy and I would've appreciated and respected your representation of HashFast and my best interests as your sub. Given the hashrate then and the purported efficiency of the Golden Nonce chip, if I were able to be the first to mine I would've made bank. Along with their guarantees of a miner protection program and BTC refunds and absolute and definite wording that they'd deliver by October 20-30, I felt it was worth the risk.

Now, come a few months later when they did not deliver, I was not about to let them ream me of the bitcoins I put down. In January, there would've been no hope to ROI positively given KNC miners, and with their broken promises, violation of the FTC mail-order cancellation rule, a dollar refund at that point in January, had I taken their dollar settlement where that scumbag Ettinger also wanted me to give up my rights to sue in addition to their obligation to me to return the sole form of payment they took that I gave them, I would've only been about to recover 1/6-1/8 the bitcoins I had put down by purchasing them again. No way.

Now I don't blame you for HashFast's behavior or any of that, and yes, you did advise me to take the refund in January and from your perspective that would've been the safest option given the circumstances and revelations that have developed up to that point so I respect that, but speaking objectively, if one were to follow the advice you gave regarding HashFast, unfortunately, they would've lost a lot of money/time.

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June 18, 2014, 09:46:03 PM
 #8785


That reminds me of when you were using the '$' unit identifier on the unitless USDX metric.  Quite unbecoming of a macro-economic guru who confidently predicts that BTC will be the new worlds reserve currency.

I don't recall your ever thanking me for inducing you to finally stop embarrassing yourself on a daily basis.  Possibly I just missed it though.


source please?

https://bitcointalk.org/index.php?topic=68655.msg903068#msg903068

the only one embarrassing himself is you bud.  the BTC/gold metric has skyrocketed since this thread began all the while you hyping gold.  your negative returns on gold must hurt.

and btw, please provide several quotes of you being so bullish on BTC back near the bottom in 2011.  

I'm tired of doing all the work for you.  Learn to write a scraper and use grep if you want to solve some of your research deficiencies.

BTW, the 'cold storage via Android' conversation which merged into my learning that addresses do have a checksum after all got going around Jan 27 or this year and lasted a few days.  Eventually you did back-track and say that you didn't really store that much on your person and could not send off your you stash within on minute.  Which effectively made my point.



ok, here's the link. everyone can make their own conclusions.

https://bitcointalk.org/index.php?topic=68655.msg4805116#msg4805116
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June 18, 2014, 09:54:17 PM
 #8786

as far as my subs were concerned, they were offered a choice, buy a miner or don't.  nothing was forced upon them.  everyone has to do their own research and calculations and consider their own circumstances.  it's like all the other advice i give in the newsletter; you can choose to follow or not.  vokain above forgot to mention that in January i recommended to him personally via email that he get a refund while he had the opportunity to get one; he declined to do so and we see the results of that.

This was my choice and that's fine, I stand by that and I hope the bankruptcy will proceed okay, though I've never been part of this shit before... but on the bright side it's been a stimulating game so far. But anyway, in the interests of being forthright I have to clarify this above statement. Cypherdoc, you were a compensated representative of Hashfast at one point. There was some conflict of interest in the trust your subscribers had for you and your affiliation with that company though our end goals and interests were more or less aligned.

this is why in sentence #1 of my endorsement on day 1 i openly revealed that i was being paid.  despite that, i truly thought the stars were aligned on this company (Silicon Valley, Simon)
Quote
Regardless, the whole point of purchasing miners at that point was so that I could make more bitcoins off the bitcoins I would invest. If everything worked out, everything would've been dandy and I would've appreciated and respected your representation of HashFast and my best interests as your sub. Given the hashrate then and the purported efficiency of the Golden Nonce chip, if I were able to be the first to mine I would've made bank. Along with their guarantees of a miner protection program and BTC refunds and absolute and definite wording that they'd deliver by October 20-30, I felt it was worth the risk.

i agree.  i was order#1 with a bunch on order myself. 
Quote

Now, come a few months later when they did not deliver, I was not about to let them ream me of the bitcoins I put down. In January, there would've been no hope to ROI positively given KNC miners, and with their broken promises, violation of the FTC mail-order cancellation rule, a dollar refund at that point in January, had I taken their dollar settlement where that scumbag Ettinger also wanted me to give up my rights to sue in addition to their obligation to me to return the sole form of payment they took that I gave them, I would've only been about to recover 1/6-1/8 the bitcoins I had put down by purchasing them again. No way.

Now I don't blame you for HashFast's behavior or any of that, and yes, you did advise me to take the refund in January and from your perspective that would've been the safest option given the circumstances and revelations that have developed up to that point so I respect that, but speaking objectively, if one were to follow the advice you gave regarding HashFast, unfortunately, they would've lost a lot of money/time.

yes, this is true and i clearly misjudged their ability to perform. 
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June 18, 2014, 10:14:22 PM
 #8787


I've never mined though I own a couple of those ASIC USB devices as novelties.  I'll let you in on a little secret as to why since I like you:  It's fucking stupid!


your problem is you think that the mining hashrate will only go in one direction (up forever) and that what is right now will never change.

In point of fact, I said exactly the opposite.  I said that at some points it will be non-profitable to mine except in special circumstances and at these times it will be a rediculous argument that miners will switch pools.  They'll shut down.  One doesn't exactly need a graduate degree in economics to understand that.

And I said that you jumping around like a monkey pointing at a chart which showed basically nothing was silly.

 and as i said above, you see mining as one dimensional (fast buck) w/o considering all the other motivations for ppl to mine.  it's quite possible that the hashrate will level off or even drop at some point making mining more profitable for those who aren't profitable currently while at the same time keeping it more decentralized.  or maybe not.  the point is we don't know.  i choose to position myself with maximum diversity in regards to mining.  i don't have a lot invested in equipment and i try to keep my costs down.  but that's just me.  you choose to ignore it but at the cost of not understanding it.

according to this, mining revenue is going back up:  https://blockchain.info/charts/miners-revenue

therefore, i personally have decided to keep mining and as i said it is profitable for me.  it may not be for others who have higher costs.  so for you to blanket say that mining is "fucking stupid" is stupid and ignores all sorts of other variables.  it's a personal decision.

as far as my subs were concerned, they were offered a choice, buy a miner or don't.  nothing was forced upon them.  everyone has to do their own research and calculations and consider their own circumstances.  it's like all the other advice i give in the newsletter; you can choose to follow or not.  vokain above forgot to mention that in January i recommended to him personally via email that he get a refund while he had the opportunity to get one; he declined to do so and we see the results of that.

Ah that's right.  Blame the victim.  Although you are pretty clearly highly self-interested I never suspected you of being an outright scammer.  Blaming the victim is often associated with scammers though.

i'm glad that you think that i wield so much influence.  it's flattering.  keep trying hard to undermine that.

Gee, trolling on a thread set up for trolling.  Who could have seen that coming?  Anyway you seem to be adept at undermining whatever influence you might have all by yourself.  ('Magic Nonce'?  LOL!)

 -edit:  or I guess 'Golden Nonce Chip' now that I look back.  Either way it's a real hoot.


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June 18, 2014, 10:28:57 PM
 #8788


I've never mined though I own a couple of those ASIC USB devices as novelties.  I'll let you in on a little secret as to why since I like you:  It's fucking stupid!


your problem is you think that the mining hashrate will only go in one direction (up forever) and that what is right now will never change.

In point of fact, I said exactly the opposite.  I said that at some points it will be non-profitable to mine except in special circumstances and at these times it will be a rediculous argument that miners will switch pools.  They'll shut down.  One doesn't exactly need a graduate degree in economics to understand that.

And I said that you jumping around like a monkey pointing at a chart which showed basically nothing was silly.

 and as i said above, you see mining as one dimensional (fast buck) w/o considering all the other motivations for ppl to mine.  it's quite possible that the hashrate will level off or even drop at some point making mining more profitable for those who aren't profitable currently while at the same time keeping it more decentralized.  or maybe not.  the point is we don't know.  i choose to position myself with maximum diversity in regards to mining.  i don't have a lot invested in equipment and i try to keep my costs down.  but that's just me.  you choose to ignore it but at the cost of not understanding it.

according to this, mining revenue is going back up:  https://blockchain.info/charts/miners-revenue

therefore, i personally have decided to keep mining and as i said it is profitable for me.  it may not be for others who have higher costs.  so for you to blanket say that mining is "fucking stupid" is stupid and ignores all sorts of other variables.  it's a personal decision.

as far as my subs were concerned, they were offered a choice, buy a miner or don't.  nothing was forced upon them.  everyone has to do their own research and calculations and consider their own circumstances.  it's like all the other advice i give in the newsletter; you can choose to follow or not.  vokain above forgot to mention that in January i recommended to him personally via email that he get a refund while he had the opportunity to get one; he declined to do so and we see the results of that.

Ah that's right.  Blame the victim.  Although you are pretty clearly highly self-interested I never suspected you of being an outright scammer.  Blaming the victim is often associated with scammers though.

i'm glad that you think that i wield so much influence.  it's flattering.  keep trying hard to undermine that.

Gee, trolling on a thread set up for trolling.  Who could have seen that coming?  Anyway you seem to be adept at undermining whatever influence you might have all by yourself.  ('Magic Nonce'?  LOL!)

 -edit:  or I guess 'Golden Nonce Chip' now that I look back.  Either way it's a real hoot.



Geez, you must live a pitiful negative life.
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June 18, 2014, 10:36:39 PM
 #8789

Anyone else expecting an end of the month precious metals slaughter?

I am and I'll be backing the truck up to the loading dock doors  Grin

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June 19, 2014, 12:55:27 AM
 #8790

as far as my subs were concerned, they were offered a choice, buy a miner or don't.  nothing was forced upon them.  everyone has to do their own research and calculations and consider their own circumstances.  it's like all the other advice i give in the newsletter; you can choose to follow or not.  vokain above forgot to mention that in January i recommended to him personally via email that he get a refund while he had the opportunity to get one; he declined to do so and we see the results of that.

This was my choice and that's fine, I stand by that and I hope the bankruptcy will proceed okay, though I've never been part of this shit before... but on the bright side it's been a stimulating game so far. But anyway, in the interests of being forthright I have to clarify this above statement. Cypherdoc, you were a compensated representative of Hashfast at one point. There was some conflict of interest in the trust your subscribers had for you and your affiliation with that company though our end goals and interests were more or less aligned.

Regardless, the whole point of purchasing miners at that point was so that I could make more bitcoins off the bitcoins I would invest. If everything worked out, everything would've been dandy and I would've appreciated and respected your representation of HashFast and my best interests as your sub. Given the hashrate then and the purported efficiency of the Golden Nonce chip, if I were able to be the first to mine I would've made bank. Along with their guarantees of a miner protection program and BTC refunds and absolute and definite wording that they'd deliver by October 20-30, I felt it was worth the risk.

Now, come a few months later when they did not deliver, I was not about to let them ream me of the bitcoins I put down. In January, there would've been no hope to ROI positively given KNC miners, and with their broken promises, violation of the FTC mail-order cancellation rule, a dollar refund at that point in January, had I taken their dollar settlement where that scumbag Ettinger also wanted me to give up my rights to sue in addition to their obligation to me to return the sole form of payment they took that I gave them, I would've only been about to recover 1/6-1/8 the bitcoins I had put down by purchasing them again. No way.

Now I don't blame you for HashFast's behavior or any of that, and yes, you did advise me to take the refund in January and from your perspective that would've been the safest option given the circumstances and revelations that have developed up to that point so I respect that, but speaking objectively, if one were to follow the advice you gave regarding HashFast, unfortunately, they would've lost a lot of money/time.

Cypher gave the option for HashFast. I for one did not follow through with my purchase and am happy I didn't. But Cypher can't be blamed for someone else reneging on their obligations.

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June 19, 2014, 01:10:12 PM
 #8791

Prepare for launch

http://coincourant.nl/abn-amro-gaat-experimenteren-met-bitcoin/
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June 19, 2014, 01:36:02 PM
 #8792

Now i can say to some people, told you so.

Oh btw just for your information. During the weekend of the bitcoin conference in Amsterdam next week ( who will attend this? ) there is another congress in Amsterdam. This one will be held in a office of the ABN Amro bank however ( just 100 seats ). A lot of Dutch bankers will attend this congress, like Jan-Kees de Jager ( former Dutch minister of Finance ) for example. Dutch bankers are really eager to understand bitcoin, i can tell you this from personal experience as well. History tells Holland always leads the way in Finance  Wink.
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June 19, 2014, 01:38:16 PM
 #8793


Google translate (from Dutch)

ABN Amro is experimenting with Bitcoin, according to an article by the Automation Guide. The trial is an initiative of Menno van Leeuwen, the manager at the Innovation Center of the nationalized bank.

Van Leeuwen thinks it's for ABN Amro wise not to ignore technological development, the eyes and indicates that he thinks it is better to experiment in order to be prepared for change themselves. "Banks are facing challengers from outside, who invent new things," says the manager. "If you ignore it, you can at a time for surprises and that is undesirable. The Bitcoin is not a regular payment, but it is a subject that requires a highly secure environment. We are experienced to our customers to provide a safe environment as a bank and the combination with the Bitcoin we test in practice. "

In the first experiments of the Innovation Center last no longer than three months. How ABN Amro's experiment exactly Bitcoin is unknown.
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June 19, 2014, 01:49:35 PM
 #8794


Google translate (from Dutch)

ABN Amro is experimenting with Bitcoin, according to an article by the Automation Guide. The trial is an initiative of Menno van Leeuwen, the manager at the Innovation Center of the nationalized bank.

Van Leeuwen thinks it's for ABN Amro wise not to ignore technological development, the eyes and indicates that he thinks it is better to experiment in order to be prepared for change themselves. "Banks are facing challengers from outside, who invent new things," says the manager. "If you ignore it, you can at a time for surprises and that is undesirable. The Bitcoin is not a regular payment, but it is a subject that requires a highly secure environment. We are experienced to our customers to provide a safe environment as a bank and the combination with the Bitcoin we test in practice. "

In the first experiments of the Innovation Center last no longer than three months. How ABN Amro's experiment exactly Bitcoin is unknown.

So Rabobank and ING go the big dinosaur tactic while ABN actually wants to survive. Not what I would expect from a government owned "company".

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June 19, 2014, 02:09:07 PM
 #8795

No time stamps?

http://mobile.bloomberg.com/news/2014-06-19/currency-probe-widens-as-u-s-said-to-target-markups.html

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June 19, 2014, 02:54:09 PM
 #8796

Silver doing the dead cat bounce  Grin

good call cypherdoc, now may be a good time to get some more SLV shorts in  Tongue

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June 19, 2014, 03:05:32 PM
 #8797

Silver doing the dead cat bounce  Grin

good call cypherdoc, now may be a good time to get some more SLV shorts in  Tongue

sharpening the stick.
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June 19, 2014, 04:23:59 PM
 #8798


In a state of near perfect competition market makers must use information inequality to profit.  This is a euphemism for taking advantage of your customers...
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June 19, 2014, 04:54:45 PM
 #8799

Monster move in gold.

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June 19, 2014, 04:59:45 PM
 #8800

Monster move in gold.



 Grin


Curious, cypher. Are you familiar with FOFOA and his Freegold theory?

Thoughts?
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