Gold collapsing. Bitcoin UP.

[bitcoinsrus]

its all good id rather trade btc all day then pad the pockets of crims like JPM which make the PMs market

+1 on that. But at the same time, for a cool $50B or so, the Fed aka JPM could easily buy out the whole existing BTC market a la Hunt Bros and then do what they want with it. The Fed prints more than that every week in order to keep the various markets afloat.

It would be cheaper to destroy the network. Go to the places where manufacturer the mining chips (Taiwan etc) and get a great deal to get 51% of the network.

[1714811918]

1714811918

[zeetubes]

its all good id rather trade btc all day then pad the pockets of crims like JPM which make the PMs market

...for a cool $50B or so.... The Fed prints more than that every week in order to keep the various markets afloat.

No, they print a mere $45B per month.

For now.

I think if you look at the purchases they make that aren't that well advertised, we're probably both underestimating.

[conspirosphere.tk]

It would be cheaper to destroy the network. Go to the places where manufacturer the mining chips (Taiwan etc) and get a great deal to get 51% of the network.

it could be even cheaper to threaten the owners of the 2-3 biggest pools of being thrown out of a window if they do not comply to pwn the network.

[Melbustus]

It would be cheaper to destroy the network. Go to the places where manufacturer the mining chips (Taiwan etc) and get a great deal to get 51% of the network.

it could be even cheaper to threaten the owners of the 2-3 biggest pools of being thrown out of a window if they do not comply to pwn the network.

So the pools would 51% and fork the network to double-spend a few coins, everyone would shutdown bitcoin payments for a few hours (as happened during the March 2013 fork), and the individuals that make up the affected pools would quickly point their miners elsewhere. p2pool would probably gain a huge share of that.

While it be a severe short/medium term blow to confidence in bitcoin, it wouldn't kill it, and would ultimately make the network stronger since people would be jumping to more distributed mining solutions like p2pool.

I think the pool attack concerns are largely blown out of proportion. Killing bitcoin really requires successfully attacking the crypto.

[cypherdoc]

see, you can't get away from it:

http://video.cnbc.com/gallery/?video=3000280280&play=1

Gold collapsing.  Bitcoin UP.

[Melbustus]

see, you can't get away from it:

http://video.cnbc.com/gallery/?video=3000280280&play=1

Gold collapsing.  Bitcoin UP.

Love it.

Note how they still feel like that have to maintain the skeptical face and skeptical chuckles at the end... It's still very early.

[hdbuck]

so lots of cnbc viewers asking about bitcoin and gold lately uh? ^^

[sidhujag]

Love the chuckles haha... the feeble minded will always look on things they cannot comprehend ignorantly.. until it slaps them in the face and say told you so!

[sidhujag]

its all good id rather trade btc all day then pad the pockets of crims like JPM which make the PMs market

+1 on that. But at the same time, for a cool $50B or so, the Fed aka JPM could easily buy out the whole existing BTC market a la Hunt Bros and then do what they want with it. The Fed prints more than that every week in order to keep the various markets afloat.

It wouldn't matter... that $50b will be used to buy btc up to say $100k each and then who would they sell to? That's a losing proposition. Also think about the new bitcoins to be mined... the cost of mining would be very low compared to the reward of selling bitcoin so it would probably mean that if they wanted to corner the market they would simply 51% the network or just do mining and also hope that the price rises as they will gain profit. THe longer you think about it the more it seems like we are on the same side even though bitcoin is pretty much their enemy.

[smoothie]

BITCOIN ERECT (UP)

To da moon!

[smoothie]

see, you can't get away from it:

http://video.cnbc.com/gallery/?video=3000280280&play=1

Gold collapsing.  Bitcoin UP.

lol they will come around once BTC > $10,000 each

[bitrider]

LOL. Very entertaining. Yes, they are the ultimate followers. Don't expect wisdom or prescience from TV news heads. They have no idea what is really going on. But the fact that we are on CNBC and Bloomberg at all is still a little amazing to me. 

[marcus_of_augustus]

LOL. Very entertaining. Yes, they are the ultimate followers. Don't expect wisdom or prescience from TV news heads. They have no idea what is really going on. But the fact that we are on CNBC and Bloomberg at all is still a little amazing to me. 

Better than just followers they are the ultimate doubters, the wall of worriers, they will be with us the whole way up.

Watch them, since they are the best indicators for sentiment.

[Melbustus]

...But the fact that we are on CNBC and Bloomberg at all is still a little amazing to me. 

Indeed. I think back to 2011 when it was really sort of a ridiculous contrast understanding what bitcoin could become, and seeing the present state of things. Having bitcoin discussed in *any* mainstream outlet, much less major financial news networks, just seemed so far off...

[cypherdoc]

Push!

[NewLiberty]

...But the fact that we are on CNBC and Bloomberg at all is still a little amazing to me. 

Indeed. I think back to 2011 when it was really sort of a ridiculous contrast understanding what bitcoin could become, and seeing the present state of things. Having bitcoin discussed in *any* mainstream outlet, much less major financial news networks, just seemed so far off...

Its been one of my bellweather markers on the way to mainstream.
When bloomberg (or cnbc) put bitcoin exchange prices on their TV ticker.
There is increasing talk on these news, so often dismissal outright, and occasional visionary optimist. (Hi @mattmiller1973, Bloomberg is lucky to have you.) At least they are talking.

One can only be dismissive for so long until it becomes evident that it just isn't going away.

[Adrian-x]

Why Bitcoin Is Wonderful (In Two Minutes) - Mike Maloney (gold bull)
https://www.youtube.com/watch?v=XZ4bVgzxp2g

[igorr]

Bitcoin is not money, and not accepted

[blatchcorn]

Bitcoin is not money, and not accepted

I have purchased more things with bitcoin than I have with gold.

I don't know a single place that would accept gold as payment.

[igorr]

Bitcoin is not money, and not accepted

I have purchased more things with bitcoin than I have with gold.

I don't know a single place that would accept gold as payment.

Gold accept, black and white and yellow people, bitcoin nobody.