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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2022644 times)
Torque
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June 30, 2014, 04:01:45 PM
 #8981

“This is classic asset forfeiture. They’re washing these bitcoin clean, with the seal of approval of the US federal government."

http://m.us.wsj.com/articles/BL-DGB-36203

Allaire demonstrates a fundamental misunderstanding of what this action represents. a bitcoin doesn't possess the capacity to be washed or cleaned. dollar bills tainted with cocaine residue can be removed from circulation and destroyed. fresh new dollar bills can take their place. now that is cleaning.

bitcoins, otoh, can't be cleaned. each digital representation is agnostic and if they passed through drug related hands then that is the case forever. there is no such thing as cleaning.

the only thing the gov't demonstrated in this case is a willingness to flip drug money for a profit. plain and simple.

and there is nothing wrong with that. as long as they allow other honest users to do the same.

Well, right now they consider it drug 'property', not real money.  Hopefully that will change some day.  But yeah, I don't get all this crap about 'clean' money.  For all I know, the dollar bills in my pocket could have been used by a drug dealer in the past.  But who cares?  Money doesn't care who uses it, or for what purpose.  Plus I have less respect for fiat since it can be printed ad nauseam.
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June 30, 2014, 04:33:08 PM
 #8982

“This is classic asset forfeiture. They’re washing these bitcoin clean, with the seal of approval of the US federal government."

http://m.us.wsj.com/articles/BL-DGB-36203

Allaire demonstrates a fundamental misunderstanding of what this action represents. a bitcoin doesn't possess the capacity to be washed or cleaned. dollar bills tainted with cocaine residue can be removed from circulation and destroyed. fresh new dollar bills can take their place. now that is cleaning.

bitcoins, otoh, can't be cleaned. each digital representation is agnostic and if they passed through drug related hands then that is the case forever. there is no such thing as cleaning.

the only thing the gov't demonstrated in this case is a willingness to flip drug money for a profit. plain and simple.

and there is nothing wrong with that. as long as they allow other honest users to do the same.
Yup..people haven't realized that this act cleans all 2nd hand coins.

Oh..it's passed through SR? Fuck it..up for auction. U.S Gov has proved it's fungibility via this act
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June 30, 2014, 04:40:09 PM
 #8983

Boom

edit:  is this one better molecular?

We're making progress. Keep going.

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June 30, 2014, 04:42:59 PM
 #8984

May be pertinent to the discussion although they've been talking about it for awhile now

http://www.arabnews.com/news/593931

"GCC tries to persuade UAE, Oman to join currency talks"


Couple this with every other anti-dollar settlement being made, ASEAN trade agreements coming online, Russia flexing muscle in the Shiite regions...and the $USD doesn't have much clout anymore.

I don't think Central Banks are ready to lose and enormous amount of value on their balance sheets so..Dollar collapse, majority of value flows to gold on CB balance sheets, debt is washed...bitcoin begins to fill the role of money transfer / storage outside of gold, ..but isn't the reserve asset of CB's just yet.

You know it makes sense cypher Wink

I wish CB's didn't exist but they do..they want to be a recipient of the wealth trasfer from the USD so they'll bid for gold..simple.
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June 30, 2014, 04:54:10 PM
 #8985



You know it makes sense cypher Wink



it only makes sense in that  they hold some gold and they'll temporarily use that to cling to the old monetary system. this will cause fluctuations in price and won't be a straight line.

but eventually they'll have to capitulate. the only question is when.
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June 30, 2014, 05:01:53 PM
 #8986



You know it makes sense cypher Wink



it only makes sense in that  they hold some gold and they'll temporarily use that to cling to the old monetary system. this will cause fluctuations in price and won't be a straight line.

but eventually they'll have to capitulate. the only question is when.
it's going to take time man..can't expect the shift to happen overnight.

I'm in agreeance that bitcoin is superior but central banks won't allow the the lose of $ value to simply vanish. bid for gold with $'s and replace it's value on their balance sheet.

As long as CB's exist..I'll wager when the $ drops (soon"ish")  gold will suck up it's value. bitcoin is a whole other beast at the moment that will extract value from from almost everything.
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June 30, 2014, 05:36:21 PM
 #8987



You know it makes sense cypher Wink



it only makes sense in that  they hold some gold and they'll temporarily use that to cling to the old monetary system. this will cause fluctuations in price and won't be a straight line.

but eventually they'll have to capitulate. the only question is when.
it's going to take time man..can't expect the shift to happen overnight.

I'm in agreeance that bitcoin is superior but central banks won't allow the the lose of $ value to simply vanish. bid for gold with $'s and replace it's value on their balance sheet.

As long as CB's exist..I'll wager when the $ drops (soon"ish")  gold will suck up it's value. bitcoin is a whole other beast at the moment that will extract value from from almost everything.

The entire success of this thread is that it is already happening much faster than even the most ardent gold bugs  have expected. it's highly unlikely for civilization to take one giant step backwards in financial innovation before moving forward in this day of seamless transfer of information. 
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June 30, 2014, 05:56:52 PM
 #8988



You know it makes sense cypher Wink



it only makes sense in that  they hold some gold and they'll temporarily use that to cling to the old monetary system. this will cause fluctuations in price and won't be a straight line.

but eventually they'll have to capitulate. the only question is when.
it's going to take time man..can't expect the shift to happen overnight.

I'm in agreeance that bitcoin is superior but central banks won't allow the the lose of $ value to simply vanish. bid for gold with $'s and replace it's value on their balance sheet.

As long as CB's exist..I'll wager when the $ drops (soon"ish")  gold will suck up it's value. bitcoin is a whole other beast at the moment that will extract value from from almost everything.

The entire success of this thread is that it is already happening much faster than even the most ardent gold bugs  have expected. it's highly unlikely for civilization to take one giant step backwards in financial innovation before moving forward in this day of seamless transfer of information. 
I'm not here to argue with you..we both believe bitcoin will continue it's epic rise but central banks do not = civilization. If the $ loses support how is the massive gap on their balance sheets going to be filled? Does it make sense for the to all go bankrupt or bid for gold and force their asset column above their liabilities?

I simply don't see Cb's going bust prior to cleansing their balance sheets via a revaluation of gold.

I could be wrong, but I don't think I'm wrong about where the $ is heading..if right, it's in the CB's best interest to increase the worth of their assets column
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June 30, 2014, 05:58:33 PM
 #8989

you Europeans are just not doing your part:


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June 30, 2014, 06:10:13 PM
 #8990

I'm not here to argue with you..we both believe bitcoin will continue it's epic rise but central banks do not = civilization. If the $ loses support how is the massive gap on their balance sheets going to be filled? Does it make sense for the to all go bankrupt or bid for gold and force their asset column above their liabilities?

I simply don't see Cb's going bust prior to cleansing their balance sheets via a revaluation of gold.

I could be wrong, but I don't think I'm wrong about where the $ is heading..if right, it's in the CB's best interest to increase the worth of their assets column
Do we know for sure that all the central banks actually have gold?
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June 30, 2014, 06:16:06 PM
 #8991

I'm not here to argue with you..we both believe bitcoin will continue it's epic rise but central banks do not = civilization. If the $ loses support how is the massive gap on their balance sheets going to be filled? Does it make sense for the to all go bankrupt or bid for gold and force their asset column above their liabilities?

I simply don't see Cb's going bust prior to cleansing their balance sheets via a revaluation of gold.

I could be wrong, but I don't think I'm wrong about where the $ is heading..if right, it's in the CB's best interest to increase the worth of their assets column
Do we know for sure that all the central banks actually have gold?
Nothing is certain. I think the ones that matter do...those out East and Germany.
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June 30, 2014, 07:01:26 PM
 #8992

Germany has decided its gold is safe in American hands.

fucking german pussies!

(I'm german, so I'm allowed, right?)

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June 30, 2014, 07:34:16 PM
 #8993

Quote from: 'Barry Silbert'
Announcement: The SecondMarket / Bitcoin Investment Trust bidding syndicate for the US Marshals bitcoin auction was outbid on all blocks

https://twitter.com/barrysilbert/status/483692873855299584

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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June 30, 2014, 07:37:49 PM
 #8994

Quote from: 'Barry Silbert'
Announcement: The SecondMarket / Bitcoin Investment Trust bidding syndicate for the US Marshals bitcoin auction was outbid on all blocks

https://twitter.com/barrysilbert/status/483692873855299584

that's great news. seriously.

it's called diversification. and i bet they bid high. 
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June 30, 2014, 07:40:00 PM
 #8995

Quote from: 'Barry Silbert'
Announcement: The SecondMarket / Bitcoin Investment Trust bidding syndicate for the US Marshals bitcoin auction was outbid on all blocks

https://twitter.com/barrysilbert/status/483692873855299584

that's great news. seriously.

it's called diversification. and i bet they bid high. 


No kidding. Boom.

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June 30, 2014, 07:57:15 PM
 #8996

Now I'm getting worried that these coins went *significantly* over market: https://twitter.com/BitcoinBreak/status/483698871802277889

While short-term bullish as all hell, don't we have a fungibility problem if these coins were indeed different....?

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June 30, 2014, 08:03:03 PM
 #8997

Now I'm getting worried that these coins went *significantly* over market: https://twitter.com/BitcoinBreak/status/483698871802277889

While short-term bullish as all hell, don't we have a fungibility problem if these coins were indeed different....?

that was the point of my earlier post about Allaire.

although the winners will try to make that argument, the market is already arbitraging that away and in the long term will be able to see through the bullshit that somehow they are different.

we all know bitcoins can't be washed.
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June 30, 2014, 09:03:37 PM
 #8998

Now I'm getting worried that these coins went *significantly* over market: https://twitter.com/BitcoinBreak/status/483698871802277889

While short-term bullish as all hell, don't we have a fungibility problem if these coins were indeed different....?

that was the point of my earlier post about Allaire.

although the winners will try to make that argument, the market is already arbitraging that away and in the long term will be able to see through the bullshit that somehow they are different.

we all know bitcoins can't be washed.

It would not surprise me if the coins sold from this auction have some sort of "numismatic" value added to it.

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June 30, 2014, 09:10:22 PM
 #8999



way to funny! from reddit

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June 30, 2014, 11:03:19 PM
 #9000


Holy ...
The latest difficulty increase supersedes the total difficulty increase from January 2009 to March 2014 combined.

Network infrastructure is ready for the next boom. 

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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