Bitcoin Forum
March 28, 2024, 09:54:08 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

Pages: « 1 ... 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 [317] 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 ... 1557 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 2032126 times)
cypherdoc (OP)
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
November 07, 2013, 03:30:37 AM
 #6321

think of it this way.

the Gold Bull got going back in 2000 at a price of $250.  look where it went.

the current BTC price is only $275.  and we've just gotten started.
1711662848
Hero Member
*
Offline Offline

Posts: 1711662848

View Profile Personal Message (Offline)

Ignore
1711662848
Reply with quote  #2

1711662848
Report to moderator
"Bitcoin: the cutting edge of begging technology." -- Giraffe.BTC
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1711662848
Hero Member
*
Offline Offline

Posts: 1711662848

View Profile Personal Message (Offline)

Ignore
1711662848
Reply with quote  #2

1711662848
Report to moderator
1711662848
Hero Member
*
Offline Offline

Posts: 1711662848

View Profile Personal Message (Offline)

Ignore
1711662848
Reply with quote  #2

1711662848
Report to moderator
cypherdoc (OP)
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
November 07, 2013, 04:12:20 AM
 #6322

Gold collapsing.  Bitcoin UP.
shmadz
Legendary
*
Offline Offline

Activity: 1512
Merit: 1000


@theshmadz


View Profile
November 07, 2013, 04:45:37 AM
 #6323

Interesting points, miscreanity.

One thing that occured to me recently is that Bitcoin is a government. Not a coercive central monopoly government, but a system of laws. These laws are not just strictly enforced, they are absolutely unbreakable. You cannot commit a "crime" in Bitcoinland, so no criminal justice system - no police or courts - are needed. No legislature is needed because the laws never change.

What you can do is leave Bitcoinland, by not participating, by not accepting BTC as payment, by not putting your savings in BTC or using bitcoins to buy things. Unlike nation-states, though, you can opt out of Bitcoinland's governance without moving away from your current location. You can "exit in place."

Bitcoin is therefore a non-territorial government, also known as a panarchy or civil association - a "club"-style government where you can opt in and out as you please, to the extent you please, and you can be in more than one such "club." While and insofar as you participate in Bitcoin, you are bound by the laws of the protocol (the Constitution, as it were).

Let's stop and appreciate the amazing advantages of Bitcoin law compared with traditional types of law:

1) Bitcoin law is non-coercive; it is entirely opt-in
2) Bitcoin law is unbreakable and requires no enforcement or adjudication or prison system
3) Bitcoin law is truly democratic in the original sense of "power to the people," not by the power of voice (voting) but by the power of exit (forking, or non-participation)
4) 1+3 means there is no such thing as "tyranny of the majority" in Bitcoin, unlike in a classical democracy

Yet Bitcoin is only one aspect of our lives; it (so far) only covers the financial sphere. It is a government in that it governs our financial dealings to whatever extent we want it to, but it is not a complete government because there is much it doesn't cover: physical harm, fraud, contract law, torts, etc. There are some things that can and are being built on top of the Bitcoin protocol, like colored coins and Mastercoin (additional opt-in governments that you can freely participate in in addition to your participation in Bitcoin), that can handle some of these things.

It will be up to us to devise other intelligent systems that utilize social incentives to attract people into effective and favorable legal structures - of which Bitcoin is one example. Perhaps private courts operating through reputational structures that have yet to be designed. Perhaps even criminal law could be handled by such courts, but for that I leave the argument to Hasnas, Friedman, Rothbard, and others (see The Enterprise of Law, edited by Bruce Benson).

But there is something of still more immediate relevance: not just building the essential features of decentralized governance, which will be a great challenge and take many years, but providing avenues to opt out of centrally monopolized aspects of society that are now still largely central-government-controlled: information/news, education, scientific funding, assistance for the less fortunate, standards, banking, and of course money itself.

Central government doesn't need to provide education, but it does (even private schools are heavily influenced by government funding, etc.). Now the Internet is providing a VASTLY superior alternative, in every conceivable way: veracity, efficacy, cost, accessibility, lack of bias, and encouragement of actual critical thinking rather than status games.

Central government doesn't need to provide information, but it does (even independent news networks develop close ties with government and know who butters their bread, not to mention government regulations raising the barrier to entry for media organizations, inducing a centralizing effect). Now the Internet is providing a VASTLY superior alternative, in every conceivable way: veracity, speed, presence of debate, lack of bias (because many sources), cost, and accessibility.

Central government doesn't need to give money to the less fortunate, but it does (even private charities are heavily influenced by tax breaks and people's biases and economic ignorance due to centralized education and media). Now the Internet and Bitcoin are enabling a VASTLY superior alternative, in every conceivable way: fairness (not coerced from others), efficacy, cost (not mostly lost in a bloated bureaucracy), speed, focus, and degree of actual betterment of circumstances. Here I speak not only of crowdsourced donations and private charities, but also of the lightning efficiency of a free market at bringing down price levels, thereby making people way less poor. Not to mention that everyone who participates gets wealthier each year by leaps and bounds.

Bitcoin is a vastly superior alternative government, and there already are other such alternatives with more coming, and I contend that the future of how to effect social change will be largely about creating systems like Bitcoin that change the groundrules that are available for people to work within.  

yes, I had to quote the whole thing in it's entirety. It's the best thing I've read in weeks.

The "voluntarism" aspect never really struck me before, but it seems to be absolutely true in the case of bitcoin. Bitcoin only exists because we give it power (or value). The same should be true of governments,

alas, this is not the case.

"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
BitcoinAshley
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
November 07, 2013, 06:01:52 AM
 #6324

Gold collapsing. Bitcoin and Litecoin  Grin up.

Sorry, I know this thread is for gold and BTC, but... it's like people just all of a sudden remembered "Oh yeah... LTC exists." Having hovered well over $4 USD/LTC in April of this year, well, now it's back up to $3.94 last I checked. Quite a recovery there.
AndrewWilliams
Full Member
***
Offline Offline

Activity: 182
Merit: 100

Fourth richest fictional character


View Profile
November 07, 2013, 06:55:27 AM
 #6325

Gold collapsing. Bitcoin and Litecoin  Grin up.

Sorry, I know this thread is for gold and BTC, but... it's like people just all of a sudden remembered "Oh yeah... LTC exists." Having hovered well over $4 USD/LTC in April of this year, well, now it's back up to $3.94 last I checked. Quite a recovery there.



Ah, Litecoin, the redheaded step child of Bitcoin....

Will it ever increase significantly? It seems people always converting it to BTC no matter what.
Wekkel
Legendary
*
Offline Offline

Activity: 3108
Merit: 1531


yes


View Profile
November 07, 2013, 06:56:52 AM
 #6326

Litecoin is doing great. Devs are very active and have a good working relationship with the Bitcoin devs. Litecoin adoption is slowly but steady increasing. It will have its moment of fame.

AndrewWilliams
Full Member
***
Offline Offline

Activity: 182
Merit: 100

Fourth richest fictional character


View Profile
November 07, 2013, 07:07:25 AM
 #6327


well it went from 5 cents to $4 in like what 7 months?

is that "significant" for you?

it sure was significant for me...


Thanks for the input.

I did not know that, and in fact, it is very interesting. Perhaps Litecoin is Bitcoin 1-2 years ago, and will start leaping like Bitcoin did.... to $60, then $120, and finally $250 like it is now.

Litecoin= Bitcoin .... delayed?

If so, I would love to get in at these prices knowing such projections are attainable.
oakpacific
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


View Profile
November 07, 2013, 07:08:25 AM
 #6328

I will always put some money into LTC just to keep it afloat.

You can't exchange BTC for fiats without giving out your identities, and nobody will exchange BTC for BTC, but exchanging a crypto for another is an entirely plausible defense for putting your BTC into a "mixing" wallet.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
manfred
Legendary
*
Offline Offline

Activity: 966
Merit: 1001


Energy is Wealth


View Profile
November 07, 2013, 07:11:19 AM
 #6329

I will always put some money into LTC just to keep it afloat.

You can't exchange BTC for fiats without giving out your identities, and nobody will exchange BTC for BTC, but exchanging a crypto for another is an entirely plausible defense for putting your BTC into a "mixing" wallet.
+1
oakpacific
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


View Profile
November 07, 2013, 08:21:17 AM
 #6330

Cypherdoc used to talk about adoption driven by price rise, now with the price rising, I am starting to see how this could make sense, in a new way.

I am inspired by the Oz Tomcar company which recently started accepting Bitcoin, the reasoning being: a lot of merchants will conclude from the price performance of Bitcoin, that there must be quite a few people getting rich with their Bitcoins out there, and want to cater to their needs(even one single order could be big for them!), this, combined with the fact that the setting up for accepting Bitcoin costs only trivially, and the potential publicity brought by such a move, could motivate lots of merchants to jump in the bandwagon.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
jeffshed
Member
**
Offline Offline

Activity: 60
Merit: 10


View Profile
November 07, 2013, 08:27:45 AM
 #6331

this....is....SPARTA
cypherdoc (OP)
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
November 07, 2013, 09:49:43 AM
 #6332

Entering Stage 1 of the next logarithmic jump.
N12
Donator
Legendary
*
Offline Offline

Activity: 1610
Merit: 1010



View Profile
November 07, 2013, 09:51:02 AM
 #6333

Please, I need the picture of the guy hugginng the huge chunk of gold now. Cheesy
cypherdoc (OP)
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
November 07, 2013, 09:59:29 AM
 #6334



Please, I need the picture of the guy hugginng the huge chunk of gold now. Cheesy

Your wish is my command.

wachtwoord
Legendary
*
Offline Offline

Activity: 2324
Merit: 1125


View Profile
November 07, 2013, 10:02:44 AM
 #6335


well it went from 5 cents to $4 in like what 7 months?

is that "significant" for you?

it sure was significant for me...


Thanks for the input.

I did not know that, and in fact, it is very interesting. Perhaps Litecoin is Bitcoin 1-2 years ago, and will start leaping like Bitcoin did.... to $60, then $120, and finally $250 like it is now.

Litecoin= Bitcoin .... delayed?

If so, I would love to get in at these prices knowing such projections are attainable.

Unlikely I think but please also not the maximum number of LTC will be 84 M (versus Bitcoin's 21 M)
wachtwoord
Legendary
*
Offline Offline

Activity: 2324
Merit: 1125


View Profile
November 07, 2013, 11:29:17 AM
 #6336

It is the second mover and the first non-premined coin with a different algorithm.

What's the value of silver when gold exists? (excluding industrial use)

Disclosure: the amount of LTC I hold is very very limited, $25 worth or something.
rpietila
Donator
Legendary
*
Offline Offline

Activity: 1722
Merit: 1036



View Profile
November 07, 2013, 11:29:37 AM
 #6337

If you don't understand something, don't buy it.

(It will go up or down regardless of your understanding it or not; the thing is that you sleep better when you've invested into things you know)

HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
N12
Donator
Legendary
*
Offline Offline

Activity: 1610
Merit: 1010



View Profile
November 07, 2013, 11:32:24 AM
 #6338

Thanks cypher, I love that picture.
cypherdoc (OP)
Legendary
*
Offline Offline

Activity: 1764
Merit: 1002



View Profile
November 07, 2013, 02:14:52 PM
 #6339

Gold collapsing. Bitcoin UP.

Zerg, you slackin boy?
paraipan
In memoriam
Legendary
*
Offline Offline

Activity: 924
Merit: 1004


Firstbits: 1pirata


View Profile WWW
November 07, 2013, 04:02:44 PM
 #6340

Cypherdoc used to talk about adoption driven by price rise, now with the price rising, I am starting to see how this could make sense, in a new way.

I am inspired by the Oz Tomcar company which recently started accepting Bitcoin, the reasoning being: a lot of merchants will conclude from the price performance of Bitcoin, that there must be quite a few people getting rich with their Bitcoins out there, and want to cater to their needs(even one single order could be big for them!), this, combined with the fact that the setting up for accepting Bitcoin costs only trivially, and the potential publicity brought by such a move, could motivate lots of merchants to jump in the bandwagon.

First car-maker to accept bitcoin was Wikispeed in 2012

http://wikispeed.org/2012/07/wikispeed-first-car-maker-in-the-world-to-accept-bitcoin-press-release/

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
Pages: « 1 ... 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 [317] 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 ... 1557 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!