Gold collapsing. Bitcoin UP.

[Kupsi]

My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?

I guess so. I don't know the details, but both etotheipi and goatpig have confirmed that they will implement Trezor in Armory.

[1714008518]

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[1714008518]

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[1714008518]

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[cypherdoc]

My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?

I guess so. I don't know the details, but both etotheipi and goatpig have confirmed that they will implement Trezor in Armory.

whatever it takes to get myTrezor.com or any other centralized server out of the loop.

[hdbuck]

And now that Greece has suffered its harshest hangover in years following several short weeks of hope that this time it may be finally different, it is time to repeat the farce from the beginning as yet another party will soon appeal to the Greek people with even greater and even more unrealistic promises, declaring that unlike Samaras, pardon, Tsipras, this time they will really show Germany who's boss.

http://www.zerohedge.com/news/2015-02-21/what-ordinary-greeks-think-fridays-deal-we-went-through-two-months-agony-realize-we-

rinse & repeat

[uki]

Gary Shilling says oil is going to $10

http://uk.businessinsider.com/gary-shilling-oil-is-going-to-10-2015-2?r=US

meanwhile, gold was pushed again down to the $1200 line. Seems like $1180 is back in the cards. Slip there will pretty much set the gold market for the first half of 2015.
Oil was waiting for a dead cat bounce, we got it, so now 30 handle may be in the cards. But not for very long. I don't think the US economy can kill their best profitable sector in the last two years without a fight.

[najzenmajsen]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

[uki]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

[cypherdoc]

increasing decentralization:

[marcus_of_augustus]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".

[uki]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".

Viable? What does this exactly mean, can you elaborate a bit?
Asteroid-mining pops up from time to time as a "game-changer" in the press, but the fact is for now there is nothing mature enough to affect the price of gold.
We may use this as an argument once this becomes a real possibility, for now it is a bit off-topic, I am afraid.

[molecular]

My favourite client, Armory, will also support Trezor in the future.

This is good news and should satisfy cyphers privacy needs.

[marcus_of_augustus]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".

Viable? What does this exactly mean, can you elaborate a bit?
Asteroid-mining pops up from time to time as a "game-changer" in the press, but the fact is for now there is nothing mature enough to affect the price of gold.
We may use this as an argument once this becomes a real possibility, for now it is a bit off-topic, I am afraid.

Point being, you said gold was scarce and this is incorrect. More correctly it is technically inaccessible, for now.

Viable means economic to retrieve in this context, if that was not obvious. There is now an identifiable technology development path towards retrieving gold from asteroids, do your own research on this if you do not believe me, I don't have time to lay it all out for you. Time and costs to becoming viable will only decrease from here onwards.

[cypherdoc]

My favourite client, Armory, will also support Trezor in the future.

This is good news and should satisfy cyphers privacy needs.

Yeah, once these 2 get integrated, it'll be a dynamite combination for security.

[cypherdoc]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".

Viable? What does this exactly mean, can you elaborate a bit?
Asteroid-mining pops up from time to time as a "game-changer" in the press, but the fact is for now there is nothing mature enough to affect the price of gold.
We may use this as an argument once this becomes a real possibility, for now it is a bit off-topic, I am afraid.

Point being, you said gold was scarce and this is incorrect. More correctly it is technically inaccessible, for now.

Viable means economic to retrieve in this context, if that was not obvious. There is now an identifiable technology development path towards retrieving gold from asteroids, do your own research on this if you do not believe me, I don't have time to lay it all out for you. Time and costs to becoming viable will only decrease from here onwards.

Ever since the Philae Lander, one cannot doubt any of these claims.

[uki]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".

Viable? What does this exactly mean, can you elaborate a bit?
Asteroid-mining pops up from time to time as a "game-changer" in the press, but the fact is for now there is nothing mature enough to affect the price of gold.
We may use this as an argument once this becomes a real possibility, for now it is a bit off-topic, I am afraid.

Point being, you said gold was scarce and this is incorrect. More correctly it is technically inaccessible, for now.

Viable means economic to retrieve in this context, if that was not obvious. There is now an identifiable technology development path towards retrieving gold from asteroids, do your own research on this if you do not believe me, I don't have time to lay it all out for you. Time and costs to becoming viable will only decrease from here onwards.

All right.
Being involved in the gold market much longer than I am in Bitcoin, I would still stick to my claim that gold is still a scarce metal until proven otherwise. Yes, potentially there is gold beyond Earth that one day, in 20, 50 or maybe 150 years can be explored. But for now, it is only a remote possibility with no real influence on the price.

[silverfuture]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".

Viable? What does this exactly mean, can you elaborate a bit?
Asteroid-mining pops up from time to time as a "game-changer" in the press, but the fact is for now there is nothing mature enough to affect the price of gold.
We may use this as an argument once this becomes a real possibility, for now it is a bit off-topic, I am afraid.

Point being, you said gold was scarce and this is incorrect. More correctly it is technically inaccessible, for now.

Viable means economic to retrieve in this context, if that was not obvious. There is now an identifiable technology development path towards retrieving gold from asteroids, do your own research on this if you do not believe me, I don't have time to lay it all out for you. Time and costs to becoming viable will only decrease from here onwards.

All right.
Being involved in the gold market much longer than I am in Bitcoin, I would still stick to my claim that gold is still a scarce metal until proven otherwise. Yes, potentially there is gold beyond Earth that one day, in 20, 50 or maybe 150 years can be explored. But for now, it is only a remote possibility with no real influence on the price.

It is scarce and incredibly difficult to get gold off planet for the foreseeable future. However, gold's majority of use case at the moment is as money. That has been fine but there is now a much better money than gold with some of the attractive qualities of gold that threatens to take over a large portion of that use case demand. I'm sure as time goes on it will retain it's lesser decorative, medicinal, industrial, and superconductor uses and will remain valuable in those regards.

The Rhino super villain character from the '70s Spiderman animated TV show used to absolutely go nuts for the stuff!

[worth]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".

Don't forget there's a ton of it in the oceans in fine particulate form that hasn't been profitable to "mine" but will become more so as we start refining ocean water for drinking on a large scale.  Not to mention, gold is considered valuable for other reasons than scarcity such as being highly conductive, malleable, ductile, non-corrosive, etc.  

These qualities will be equaled and surpassed in time by newer materials.  All of the above will contribute to the long-term decline of the value of gold.  

I talk about most of these things more in-depth in this video I recorded last year and recently uploaded to YouTube:
https://www.youtube.com/watch?v=1sceRsmT1yc

[cypherdoc]

the Dow Theory non-confirmation grows larger and larger.  the US is not out of the woods, contrary to popular opinion:

[smooth]

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.

Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Sounds a lot like peak oil. How did that turn out?

Bits beat atoms. Every damn time.

[dnaleor]

My favourite client, Armory, will also support Trezor in the future.

This is good news and should satisfy cyphers privacy needs.

finally

[cypherdoc]

Citizen Four Wins!