User705
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Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
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November 29, 2013, 10:15:15 PM |
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I was mainly a lurker, but it has been a hell of a ride anyway. So, next question is: when will we have the first billionaire (in $) in this thread?  Satoshi by current estimates already is one. |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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justusranvier
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Activity: 1400
Merit: 1009
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November 30, 2013, 12:24:54 AM |
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miscreanity
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Activity: 1316
Merit: 1005
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November 30, 2013, 01:01:47 AM |
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Regulatory indecision was the sideshow: war is coming. At this point, I think Bitcoin can act as its own closed economy... barely. Now we'll get to see which underhanded tactics are brought to bear - I think we've not seen the big guns so far. Oh, and sure gold has been overshadowed and won't have as high a percentage growth as Bitcoin, but don't count it out yet. One word: transition! |
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neutralist
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Activity: 85
Merit: 10
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November 30, 2013, 02:32:48 AM |
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It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.
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notme
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Activity: 1904
Merit: 1002
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November 30, 2013, 02:38:33 AM |
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It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.
All other metals have this property. |
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oakpacific
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November 30, 2013, 02:49:09 AM |
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It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.
If anything it makes you understanding what fiat really is-debt. |
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BitcoinAshley
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November 30, 2013, 03:13:41 AM |
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It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.
All other metals have this property. Not exactly - because of an obscure clause in U.S. commemorative coin legislation, only platinum can be used to make the fabled "quadrillion dollar coin." So, no other metal has this property  EDIT: Based on my likely unreliable memory and understanding of the legislation. Also, because Paul Krugman said so (so it must be so) |
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jojo69
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Activity: 3136
Merit: 4282
diamond-handed zealot
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November 30, 2013, 03:16:02 AM |
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It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.
now that right there is funny |
This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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oakpacific
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November 30, 2013, 03:20:56 AM |
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The ledger of the gubermint can be changed at will, other than the restriction by some obscure laws, without the backing of real computing power/energy.
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bitcodo
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November 30, 2013, 06:55:41 PM |
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Where do you people from EU buy physical silver. We have 22% tax, so I buy it in Germany - 7% tax. But after new year, tax will go up in Germany too.
Where will be best place to buy physical silver next year in EU?
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wachtwoord
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Activity: 2324
Merit: 1125
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November 30, 2013, 06:56:02 PM |
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It seems people have forgot about the unique thing about platinum: besides its widely uses in the auto industry, it is the only metal where the U.S. goverment can use to pay off ALL its obligations overnight, by minting a 1oz proof platinum coin with the denomination of 1 quadrillion USD. No other metal has this property.
All other metals have this property. Not exactly - because of an obscure clause in U.S. commemorative coin legislation, only platinum can be used to make the fabled "quadrillion dollar coin." So, no other metal has this property EDIT: Based on my likely unreliable memory and understanding of the legislation. Also, because Paul Krugman said so (so it must be so) What? This sounds like the weirdest thing ever. Why would that even be decided on and recorded? |
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jojo69
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Activity: 3136
Merit: 4282
diamond-handed zealot
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November 30, 2013, 07:02:35 PM |
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What? This sounds like the weirdest thing ever. Why would that even be decided on and recorded?
truth is indeed stranger than fiction http://www.forbes.com/sites/beltway/2013/01/08/is-the-trillion-dollar-platinum-coin-clever-or-insane/ |
This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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Sword Smith
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November 30, 2013, 07:21:48 PM |
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Where do you people from EU buy physical silver. We have 22% tax, so I buy it in Germany - 7% tax. But after new year, tax will go up in Germany too.
Where will be best place to buy physical silver next year in EU?
Estonia. They are the only country in the EU without VAT on silver. I think forum member rpietila can confirm this. |
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JTrain_51
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Activity: 84
Merit: 10
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November 30, 2013, 07:23:51 PM |
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Mabye because a bitcoin wallet ways what ( How much does my iphone way ) and how much does gold way like what are you going to walk into a coffee shop and grab some gold out of your pocket I think bitcoin is alot better than gold because gold just has a great colour  |
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wachtwoord
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Activity: 2324
Merit: 1125
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November 30, 2013, 07:24:38 PM |
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What bull shit. That would clearly not be aimed at collectors. |
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jojo69
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Activity: 3136
Merit: 4282
diamond-handed zealot
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November 30, 2013, 07:26:02 PM |
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of course not
that there was even sober discussion on this possibility points out just how absurd and precarious the fiat ponzi has become
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This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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Hawker
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Activity: 1218
Merit: 1001
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November 30, 2013, 07:26:27 PM |
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What bull shit. That would clearly not be aimed at collectors. I don't know. Its won't be long before I can trade 1 btc for that trillion dollar thingy - I'd give it til Christmas |
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jojo69
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Activity: 3136
Merit: 4282
diamond-handed zealot
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November 30, 2013, 07:31:39 PM |
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This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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tvbcof
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Activity: 4578
Merit: 1276
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November 30, 2013, 07:59:14 PM |
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What bull shit. That would clearly not be aimed at collectors. lol and people trust govt debt as "money" It is especially droll that so many people consider Bitcoin to be so crazy and illegitimate compared to mainstream monetary systems. 'Problem solving' via Krugman's coin is obviously much poorer engineering than anything in crypto-currency land, and the fact that it would probably be an effective problem solving technique under our political and economic system says a lot...and not much of what it says good for long term individual planning. |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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neutralist
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Activity: 85
Merit: 10
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November 30, 2013, 08:31:48 PM |
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I think bitcoin is alot better than gold because gold just has a great colour In Chinese we use the color of gold to describe something that routinely comes out of your anus. |
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