Gold collapsing. Bitcoin UP.

[cypherdoc]

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity.  Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Why? Please explaiin.

tv is such a tease.

[1713440431]

1713440431

[Spaceman_Spiff]

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity.  Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Why? Please explaiin.

tv is such a tease.

Indeed he is 

[paraipan]

...

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity.  Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Don't despair and consider the following links before "cashing out", or however you call that.

http://www.reddit.com/r/Bitcoin/comments/1bidvo/why_its_not_too_late_to_get_involved_and_things/

http://www.reddit.com/r/Bitcoin/comments/1bhhjg/any_bitcoin_millionaires_here_on_reddit_if_so/c96rn3p

[cypherdoc]

...

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity.  Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Don't despair and consider the following links before "cashing out", or however you call that.

http://www.reddit.com/r/Bitcoin/comments/1bidvo/why_its_not_too_late_to_get_involved_and_things/

http://www.reddit.com/r/Bitcoin/comments/1bhhjg/any_bitcoin_millionaires_here_on_reddit_if_so/c96rn3p

he's on his period.

[cypherdoc]

Gold down again, Bitcoin UP.

[tvbcof]

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity.  Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Why? Please explaiin.

Firstly I don't see how Bitcoin is going to be under the operational control of any but those who can afford the outlay for significant compute and network resources.  Individual user's being 'peers' in the system seems hopeless.  I suspect that it will be run by large generalist computer service corporations, and probably subsidized so as to obtain high value business intelligence.  Like most e-mail is today.  At that point I do not believe that it will be difficult for large governments to extract their own intelligence info either and it would not surprise me to see Bitcoin tolerated by TPTB for that reason.

I do believe that the internet is going to be under increasingly tight control, and it will be technically possible to restrict what most users say and do on it.  Not all users, of course, but that is not required to change the flavor and capabilities of the Internet greatly.  I mention this because I believe that it will be possible to manipulate who stays in business as a Bitcoin infrastructure provider and who does not.  Even more than today using exclusively the regulatory authority which governments have.  That again will prove incentive for infrastructure providers to play ball with fascist governments.

Nextly I believe that much of the actual value will be hoovered up by people who are already quite well off.  We see it happening now.  Of course it is pretty much a fact of life that the wealthy tend to end up with even more wealth, but with something 'deflationary' like Bitcoin, the effect will be even more quick.  Here again there will be exceptions. Namely us tight fisted geeks, but we are such a tiny sliver of a minority that it does not matter in the scheme of things.  If Bitcoin were truly a peer-to-peer solution which rode on the backs of the masses then the masses would probably have some leverage.  It does not look to me like things are going to shake out that way.

[slothbag]

I guess at the end of the day, Bitcoin focuses on solving a narrow range of problems, government currency inflation and money transfer control.  It does not fix issues with large corporations monopolising markets, trademarking and copywriting everything to infinity..

I dont think Bitcoin should take on a Robin Hood style role, I dont think it should be taking the wealth from the rich and distributing it to the poor, it simply levels the playing field and puts everyone on the same rules for building wealth.

Next P2P project.. KarmaCoin.. A system to promote ethical, non greedy corporations and to prevent them from taking over and ascending to monopolistic positions.

[cypherdoc]

Where the hell is zerg?

[paraipan]

Where the hell is zerg?

Preparing of course...

[slothbag]

He needs to automate that script for every 3% rise over the last posted update

[thezerg]

Where the hell is zerg?

OMFG. ZERG RUSH!!!!!!

All human inspiration and invention progresses from a clever application of a natural phenomenon to a carefully designed, optimized solution to the problem.  Fire becomes the gas lamp (constrained fire), the incandescent light bulb (heat without burning) which turns into LEDs (pure photon emission).  Stone building blocks become reinforced concrete, and then steel I beams.  Gold becomes bitcoin.


Just because I want to, I'm going to use the high we hit last night. 

And now.....the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, Bitcoin=5.4):
Bitcoin is 147.00.  Gold is 1570.60
Bitcoin: 2622.22%
Gold:    -7.07%
Diff:  2829% advantage Bitcoin and Growing

[cypherdoc]

Where the hell is zerg?

OMFG. ZERG RUSH!!!!!!

All human inspiration and invention progresses from a clever application of a natural phenomenon to a carefully designed, optimized solution to the problem.  Fire becomes the gas lamp (constrained fire), the incandescent light bulb (heat without burning) which turns into LEDs (pure photon emission).  Stone building blocks become reinforced concrete, and then steel I beams.  Gold becomes bitcoin.


Just because I want to, I'm going to use the high we hit last night. 

And now.....the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, Bitcoin=5.4):
Bitcoin is 147.00.  Gold is 1570.60
Bitcoin: 2622.22%
Gold:    -7.07%
Diff:  2829% advantage Bitcoin and Growing

You've learned well,  my son 

[oakpacific]

Hmmm.....how much bigger is gold's market? Can a part of gold price's erosion be attributed to ...Bitcoin?

[deeplink]

Hmmm.....how much bigger is gold's market? Can a part of gold price's erosion be attributed to ...Bitcoin?

No way that your funny internet monies can erode the price of the only real money!

[cypherdoc]

Hmmm.....how much bigger is gold's market? Can a part of gold price's erosion be attributed to ...Bitcoin?

Absolutely. That has been my contention since day one.

As for proof, you haven't been listening. I'm the proof.  Living proof since, what, April 2011?

[oakpacific]

Hmmm.....how much bigger is gold's market? Can a part of gold price's erosion be attributed to ...Bitcoin?

Absolutely. That has been my contention since day one.

As for proof, you haven't been listening. I'm the proof.  Living proof since, what, April 2011?

Okay but it should happen on a significant scale only recently right? Bitcoin price went into detonation mode and gold price fell at the same time, something similar happened before?

[cypherdoc]

Hmmm.....how much bigger is gold's market? Can a part of gold price's erosion be attributed to ...Bitcoin?

Absolutely. That has been my contention since day one.

As for proof, you haven't been listening. I'm the proof.  Living proof since, what, April 2011?

Okay but it should happen on a significant scale only recently right? Bitcoin price went into detonation mode and gold price fell at the same time, something similar happened before?

It's just one of those creeping things ya know?

First they laugh at you, then they get mad at you, pretty soon they go silent (where we are now), then they start agreeing with you, finally they say they were right all along.

So I don't expect to get famous from this, that's for sure.

[labestiol]

As much as I think you're right long term, we're not there yet.
Maybe some part of the gold market is going into the bitcoin market, but it's still not significant with regards to gold price.
When central banks start buying btc as a reserve asset, then we'll see this transition. But we still have a long way to go (probably shorter than most people think thought).

Gold still correcting, bitcoin still exploding.

[cypherdoc]

this does not look good for silver:

[cypherdoc]

As much as I think you're right long term, we're not there yet.
Maybe some part of the gold market is going into the bitcoin market, but it's still not significant with regards to gold price.
When central banks start buying btc as a reserve asset, then we'll see this transition. But we still have a long way to go (probably shorter than most people think thought).

Gold still correcting, bitcoin still exploding.

the key to investing is to get there before everyone else gets there, am i right?