Gold collapsing. Bitcoin UP.

[Hunyadi]

The first P2P exchange is moving forward:

http://www.coinffeine.com/download.html
The Technical Preview version is here!

[ErisDiscordia]

The comedians are the only ones left who can tell the truth:

http://www.theonion.com/articles/nation-just-hoping-next-president-can-prevent-coun,38512/

In addition, 87 percent of citizens confirmed that during the next presidential term, they merely hope to occasionally read something about their country in the news that doesn’t leave them feeling ashamed, angry, depressed, or completely mortified.

“It’s pretty simple, really: Just lay out a clear-cut, straightforward plan for a future in which we don’t totally go down in flames on a grand stage, and you’ve got my vote,” said Allison Joyce, a 47-year-old middle school teacher from Bethesda, MD. “Look, I don’t need to be inspired; I don’t need to be assured our future is bright; I don’t need to be told I’m strong and resilient in the face of hardship. Just convince me we can get through the next decade in the least demeaning way possible given all our problems with childhood poverty, gun violence, and people dying because they can’t afford medical treatment. That’s it.”

“That’s seriously all I want from my president going forward,” she added. “Just the faintest of silver linings that I can hold on to while everything else goes down the drain.”

Though they admitted to reporters that no one in the current field of presidential hopefuls seems likely to spare the country much humiliation while its infrastructure crumbles and its reputation is reduced to tatters, most voters expressed optimism that such a candidate will eventually emerge.

“We know what’s in store for America, so if we could elect someone who’s committed to keeping things somewhat tolerable while the whole place goes to hell, that’d be great,” said Seattle-based tax attorney Greg Hudson, 57. “It’s really our best hope at this point. The British Empire kind of just gradually fell by the wayside without too much embarrassment. Maybe we can, too. Who knows, we might still be able to go out with a little bit of class.”

“Then again,” Hudson added, “maybe at this point the best option is to put someone in the White House who will just bite the bullet and get this whole thing over with as quickly as possible.”

when will people finally figure out that changing a guy on top of the power-structure doesn't bring about any meaningful change? We've tried and tried and still can't seem to vote in the "right people", yet so many people still cling to this idea of "if only we could vote in the right, honest and competent politicians all would be well". I'd really love to see the most benevolent and competent of all people put into positions of power, just to prove once and for all that it doesn't change anything. And they call my anarchist fantasies naive...hey those are at least something we haven't tried a gazillion times yet!

[tabnloz]

Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies  into buying in and been responsible for the explosive upshot from $2-$36-$266

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

[cypherdoc]

Rally time

[cypherdoc]

Although I don't own one (yet), I'm becoming a real fan of these guys:

https://medium.com/@Ledger/leveraging-trusted-execution-environments-for-trustless-bitcoin-applications-752c8a767b52

[smooth]

Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies  into buying in and been responsible for the explosive upshot from $2-$36-$266

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

Interesting quote

“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy

Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?

[lebing]

Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies  into buying in and been responsible for the explosive upshot from $2-$36-$266

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

Interesting quote

“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy

Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?

in that case it would definitely be in the billions/ trillions... but i fail to see how the other currencies were to survive in this case.

[smooth]

Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies  into buying in and been responsible for the explosive upshot from $2-$36-$266

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

Interesting quote

“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy

Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?

in that case it would definitely be in the billions/ trillions... but i fail to see how the other currencies were to survive in this case.

I mostly agree except there may be a difference of time horizon. The really terrible currencies and financial systems may be replaced relatively quickly, with the more functional ones lasting longer to much longer. Thus the question of value given replacing just the terrible systems first is quite interesting.

It's already in the billions by the way, so that price target isn't very interesting.

[molecular]

OK, it sounds like both ZB and you agree that Fedcoin could be made to work technically.   

The question of whether the market would prefer it over Bitcoin is a different question. 

That fedCoin is no competition to Bitcoin, really. The killer app is sound money and fedCoin isn't sound.

this is the correct view.

If it's open to access for anyone and designed to dodge KYC, then anyone can be his own USD depository. So it's competition for entities storing USD for you (banks, exchanges,...). Using the fedCoin blockchain to store your USD definitely beats having it lay around at bitfinex (for example) and it also beats fed notes under the mattress, at least regarding security.

i don't think Fedcoin ever gets this far.

Me neither. But this is something I would actually have some use for (at least currently).

[cypherdoc]

Bitcoin up, everything else down. Especially gold.

[cypherdoc]

bad break down out of the wedge:



traderCJ, this has got to hurt, after the last 2d of massive gains:



uh, Janet, would you please pay attention?:



the thing is, imo, these are REAL market response moves given that the FOMC met yesterday and gave a hawkish announcement.

[Bassica]

Yes, get your turbo shorts in place. I just closed my european/asian shorts today. Kept the US's open. Hopefully will find a nice execution moment today/tomorrow. 

[Peter R]

Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies  into buying in and been responsible for the explosive upshot from $2-$36-$266

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

Interesting quote

“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy

Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?

[inca]

Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies  into buying in and been responsible for the explosive upshot from $2-$36-$266

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

Interesting quote

“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy

Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?

Spot the odd one out..

[cypherdoc]

Yes, get your turbo shorts in place. I just closed my european/asian shorts today. Kept the US's open. Hopefully will find a nice execution moment today/tomorrow. 

i love these kinda comments.  a true barracuda in the water. 

[cypherdoc]

Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies  into buying in and been responsible for the explosive upshot from $2-$36-$266

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

Interesting quote

“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy

Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?

i like your drift. Bitcoin in the center aka nucleus.

[zanzibar]

Just heard a nice little blurb regarding GS and Circle Funding on NPR.  Good stuff.

[smooth]

Nice graphic. Inference of course being trillions, i.e. btc at about 1 million USD, which by the way is the number Wences Casares has used (he is also featured in that article).

[rocks]

when will people finally figure out that changing a guy on top of the power-structure doesn't bring about any meaningful change? We've tried and tried and still can't seem to vote in the "right people", yet so many people still cling to this idea of "if only we could vote in the right, honest and competent politicians all would be well". I'd really love to see the most benevolent and competent of all people put into positions of power, just to prove once and for all that it doesn't change anything. And they call my anarchist fantasies naive...hey those are at least something we haven't tried a gazillion times yet!

Well to be fair, a few people figured that out in the late 1700s. Even in a monarchy where the top supposedly can command anything, it is really the bureaucratic machine that determines everything. Even an economy in the late renaissance period was too large for any one king to actually understand and control. Today I don't think a president even has enough hours in a year to be briefed on all the various aspect of our economy, let alone have enough understanding to do anything meaningful. The top really only has time to implement and push through a few pet projects and almost always this expands government.

And in the US the top having very little actual control is suppose to be OK and by design. In a constitutional republic where power is balanced between the states and the federal gov, the federal level is quite limited by what it can do. So it doesn't matter that the top (i.e. the President) has little actual control, because decision making is distributed throughout the system, and largely pushed out to local governments. This worked really well for ~100 years.

But then the federal level took a tremendous amount of power over time, however the top still has very little actual control. This is what has created today's mess where the federal government is simply out of control. The bureaucratic machine has no check against it, the states can't stop it and the President can't stop it. Which is why we are quickly moving into a surveillance police state. It will all continue until the state runs out of money, which will only happen AFTER we have all been picked dry.

[molecular]

i like your drift. Bitcoin in the center aka nucleus.

The only material thing... like a stone dropped into some fluid or some charge in a field. The stuff around it? Just ripples.