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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1938882 times)
cypherdoc
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July 09, 2014, 04:07:22 PM
 #9321

i'm pleased to say that on 7/4 at a party, i was able to send demo BTC to the iPhone of a CEO of a I biotech company.  

i'd never browsed the iPhone app store before but simply searching "Bitcoin" brought up loads of stuff including a few wallets.  he was thoroughly impressed and had actually approached me about Bitcoin since he knew i was involved back when the price was around $80. he now gets it and will be entering the space i'm sure. 

i've been waiting to be able to do this for the longest time and it is a powerful way to demonstrate the utility of Bitcoin to anyone with a smartphone now.

I remember someone telling a story that happened at a golf club or something (was it Antonopulous?). Not sure if true, but it goes like this: he sent a large chunk of coins (thousands worth a million $ or so) to the next guys phone and then around the table and back to him. Apparently it made quite an impression on the attendees to hold a million worth of Bitcoin on their gadgets for a short period of time. It's a slight bit risky and takes some balls to do this, but it sure gets people to think.


That was Wences Casares and the amount was $250K.

He sent it around a table of around 8  or so of his venture capital friends, including Marc Andreesen, at some club down in Argentina, I think.

That was an impressive demonstration.


Heh... And he probably didn't even make sure the other guys had backed up their private keys prior to executing the transactions, either.

the real cool project is that annual Bitcoin criss crossing the globe demo.
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cypherdoc
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July 10, 2014, 02:09:48 AM
 #9322

decent article by Krawisz:

http://nakamotoinstitute.org/mempool/bitcoins-rugged-individualism/
justusranvier
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July 10, 2014, 02:27:16 AM
 #9323

Even better article by Rochard:

http://nakamotoinstitute.org/mempool/speculative-attack/

He doesn't use the term in this article, but what he describes is the greatest carry trade in history.
Peter R
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July 10, 2014, 03:11:50 AM
 #9324

Even better article by Rochard:

http://nakamotoinstitute.org/mempool/speculative-attack/

He doesn't use the term in this article, but what he describes is the greatest carry trade in history.

Here's an interesting thought experiment:

Imagine that everybody has visibility of all of their money on a smartphone app.  For simplicity, consider that only dollars and bitcoins exist.  The app has two features:

1.  It displays the market value of each user's money, expressed in whatever currency is currently "dominant," along with the exchange rate between the two currencies.  

2.  There is a slider bar that allows each user to dynamically adjust their personal exposure to anywhere between 0% bitcoins and 100% bitcoins:
                
    0% BTC / 100% USD   <-----|||SLIDERBAR|||----------------------------------->   100% BTC / 0% USD

Assume there is no fee for trading and no slippage.  If it was this easy for everyone, what would people do?  

Bitcoin adoption is all about slowly coaxing the world to move that imaginary slider bar a little further to the right!
  

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
cypherdoc
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July 10, 2014, 03:24:07 AM
 #9325

"M-COMMERCE GURU: ACCEPT BITCOIN NOW OR GET LEFT BEHIND"

http://cryptocrimson.com/2014/07/m-commerce-guru-accept-bitcoin-now-get-left-behind/
cypherdoc
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July 10, 2014, 03:55:33 AM
 #9326

Brock Pierce is a traitor:

http://rdd.me/8dzhpxaq
cypherdoc
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July 10, 2014, 04:59:01 AM
 #9327

The seven data points are:

Developer interest on GitHub
Merchant adoption
Wikipedia views
Hashrate <-- this one's interesting. I've always said HR was important
Google searches
User adoption as measured by wallets
Transaction volume.


http://rdd.me/o2foy8hs
Adrian-x
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July 10, 2014, 05:07:40 AM
 #9328

Brock Pierce should be shot:

http://rdd.me/8dzhpxaq

Is he that guy that sits on that foundation who has the sole mandate to promote Bitcoin?

This altcoin of his illustrates a lack of understanding on how Bitcoin works moreover it looks like a conflict of interests considering the foundations goal.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Melbustus
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July 10, 2014, 05:13:02 AM
 #9329

Brock Pierce should be shot:

http://rdd.me/8dzhpxaq

Is he that guy that sits on that foundation who has the sole mandate to promote Bitcoin?

This altcoin of his illustrates a lack of understanding on how Bitcoin works moreover it looks like a conflict of interests considering the foundations goal.


Yeah, it's all around terrible. I assume this was really why Andreas bailed on the Foundation today.

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
molecular
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July 10, 2014, 06:47:20 AM
 #9330

Even better article by Rochard:

http://nakamotoinstitute.org/mempool/speculative-attack/

He doesn't use the term in this article, but what he describes is the greatest carry trade in history.

Here's an interesting thought experiment:

Imagine that everybody has visibility of all of their money on a smartphone app.  For simplicity, consider that only dollars and bitcoins exist.  The app has two features:

1.  It displays the market value of each user's money, expressed in whatever currency is currently "dominant," along with the exchange rate between the two currencies.  

2.  There is a slider bar that allows each user to dynamically adjust their personal exposure to anywhere between 0% bitcoins and 100% bitcoins:
                
    0% BTC / 100% USD   <-----|||SLIDERBAR|||----------------------------------->   100% BTC / 0% USD

Assume there is no fee for trading and no slippage.  If it was this easy for everyone, what would people do?  

Bitcoin adoption is all about slowly coaxing the world to move that imaginary slider bar a little further to the right!
  
(emphasis mine)

Imaginary?

You might have discovered bitcoins killer app right there.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
Dragonkiller
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July 10, 2014, 09:28:26 AM
 #9331

Massive gold spike

cypherdoc
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July 10, 2014, 09:55:17 AM
 #9332

Yeah, no kidding.
cypherdoc
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July 10, 2014, 10:06:53 AM
 #9333

Big test for stocks tomorrow
FNG
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July 10, 2014, 10:51:32 AM
 #9334

Big test for stocks tomorrow
I'm guessing it's going to be an ugly day for stocks.

kodtycoon
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July 10, 2014, 10:54:01 AM
 #9335

Big test for stocks tomorrow
I'm guessing it's going to be an ugly day for stocks.



whats happening thats gong to make it an ugly day for stocks?

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theonewhowaskazu
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July 10, 2014, 11:01:27 AM
 #9336

Switched position on the vix 2 days ago. Now I'm sweating bullets because of the huge contango. Today will probably give me the out I need. Hopefully at a profit.

FNG
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July 10, 2014, 11:01:58 AM
 #9337

Big test for stocks tomorrow
I'm guessing it's going to be an ugly day for stocks.



whats happening thats gong to make it an ugly day for stocks?
Futures down nearly 1%, gold soaring, DOW 17k didn't hold, BIS calling on Central Banks to bring forward the down leg of the cycle to prevent a bust

People are ready to panic imo
Ivanhoe
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July 10, 2014, 11:08:11 AM
 #9338

Big test for stocks tomorrow
I'm guessing it's going to be an ugly day for stocks.



whats happening thats gong to make it an ugly day for stocks?
Portugal fears in Europe.
kodtycoon
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July 10, 2014, 11:12:00 AM
 #9339

Big test for stocks tomorrow
I'm guessing it's going to be an ugly day for stocks.



whats happening thats gong to make it an ugly day for stocks?
Futures down nearly 1%, gold soaring, DOW 17k didn't hold, BIS calling on Central Banks to bring forward the down leg of the cycle to prevent a bust

People are ready to panic imo

hmm lets hope this all benefits bitcoin Smiley

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theonewhowaskazu
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July 10, 2014, 11:17:24 AM
 #9340

Shit look at gold even comex. This actually might be the beginning of zero hedges long predicted European gold boom.

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