Gold collapsing. Bitcoin UP.

[cypherdoc]

At least give this an open minded read... I am sincerely not trying to coin pump. Something huge is actually happening here: http://209.126.70.170/SuperNET.pdf.
Teleport, InstantDEX, Multigateway, cross chain trading, Tradebots, P2p betting, SuperNET. This stuff is not coin (or nxt) specific. These features cannot be disregarded as they will boost ALL of crypto and have never been done before!

Crypto is about to change forever.

Haha Boolberry (what a name) rose tremendously after the announcement this. Thus far this doesn't seem interesting at all. But I see jl777 has donated 3700 BTC to this plan? Is this verifiable?

Did you actually read it or just follow/repeat what other altcoin hating skeptics have said about it so as not to be different from your "peers"?

He's back!

hahaha thats brilliant..lol

@watchwoord well time will tell i guess..

Well, at least you have a sense of humor. 

+1

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[kodtycoon]

At least give this an open minded read... I am sincerely not trying to coin pump. Something huge is actually happening here: http://209.126.70.170/SuperNET.pdf.
Teleport, InstantDEX, Multigateway, cross chain trading, Tradebots, P2p betting, SuperNET. This stuff is not coin (or nxt) specific. These features cannot be disregarded as they will boost ALL of crypto and have never been done before!

Crypto is about to change forever.

Haha Boolberry (what a name) rose tremendously after the announcement this. Thus far this doesn't seem interesting at all. But I see jl777 has donated 3700 BTC to this plan? Is this verifiable?

Did you actually read it or just follow/repeat what other altcoin hating skeptics have said about it so as not to be different from your "peers"?

He's back!

hahaha thats brilliant..lol

@watchwoord well time will tell i guess..

Well, at least you have a sense of humor. 

+1

I'd put that as my pic thing if i was able

The only thing that irritates me is when people dismiss things with out prior unbiased research into the subject matter..

@watchwoord iv followed it from the start long before btcd was chosen..(got in at 50k sats). It really is going to be seriously disruptive if it can be pulled off.. And im confident that james can. He is a very skilled dev. Multigateway is arguably the one of most revolutionary features if used in a crypto. Once instantdex comes into play and these features become available in the supernet coins, its going to change the status quo of altcoin so and altcoin trading forever. If all coins were on super network.. The altcoin exchanges would cease to exist. And as much as I know many of you dont like nxt.. That is what makes all this possible.. I think most if not all supernetwork tx's will go into the nxt blockchain so if you believe metacaffs?? Law.....

You cant deny though..if it works like it is supposed to.. Things are to change around the altcoin and possibly bitcoin section.. Bitcoin could also be included in this network so that it can then also benefit from the features of the different coins added to the network. Imagine the power of bitcoin if it suddenly had that amount of power with out the risk of making changes to the core... Atleast i dont think it would require changes.. I'm not sure.. Would be cool though.

[wachtwoord]

At least give this an open minded read... I am sincerely not trying to coin pump. Something huge is actually happening here: http://209.126.70.170/SuperNET.pdf.
Teleport, InstantDEX, Multigateway, cross chain trading, Tradebots, P2p betting, SuperNET. This stuff is not coin (or nxt) specific. These features cannot be disregarded as they will boost ALL of crypto and have never been done before!

Crypto is about to change forever.

Haha Boolberry (what a name) rose tremendously after the announcement this. Thus far this doesn't seem interesting at all. But I see jl777 has donated 3700 BTC to this plan? Is this verifiable?

Did you actually read it or just follow/repeat what other altcoin hating skeptics have said about it so as not to be different from your "peers"?

He's back!

hahaha thats brilliant..lol

@watchwoord well time will tell i guess..

Well, at least you have a sense of humor. 

+1

I'd put that as my pic thing if i was able

The only thing that irritates me is when people dismiss things with out prior unbiased research into the subject matter..

@watchwoord iv followed it from the start long before btcd was chosen..(got in at 50k sats). It really is going to be seriously disruptive if it can be pulled off.. And im confident that james can. He is a very skilled dev. Multigateway is arguably the one of most revolutionary features if used in a crypto. Once instantdex comes into play and these features become available in the supernet coins, its going to change the status quo of altcoin so and altcoin trading forever. If all coins were on super network.. The altcoin exchanges would cease to exist. And as much as I know many of you dont like nxt.. That is what makes all this possible.. I think most if not all supernetwork tx's will go into the nxt blockchain so if you believe metacaffs?? Law.....

You cant deny though..if it works like it is supposed to.. Things are to change around the altcoin and possibly bitcoin section.. Bitcoin could also be included in this network so that it can then also benefit from the features of the different coins added to the network. Imagine the power of bitcoin if it suddenly had that amount of power with out the risk of making changes to the core... Atleast i dont think it would require changes.. I'm not sure.. Would be cool though.

He wants different crypto currencies to use each other's features without even trying to explain how (on any abstraction level). You'd think he'd put that in the document if he had any idea what he were doing.

[kodtycoon]

He didnt give any technical documentation of how multigateway works until it was very near finished i dont think.. And that turned out far far better than expected. Just because he hasn't given a technical explanation of how it will work doesn't mean he doesn't know what he is doing.

[thezerg]

...
My feeling is that the price has dropped in the last 6 months, while the value has grown. 

Agreed. Feels a lot like late-2011/early-2012 to me. Bubble blow off, recovering from a bunch of nasty stuff, yet steady ecosystem development and investment under the hood.

Yup exactly!

last time, it went from about 130 to over 1100 - almost a ten-bagger

this time, it's launching from 450

my question to you is, when are you selling?

Seems most are thinking it's bubble time? Hmmm. What was that thing people say about everyone expecting the same thing? Hehe.

Yeah, IMO you aggressive bulls are jumping the gun here.  We popped a bit which caused wavering fence sitters to freak out and buy.  We'll consolidate here for a bit, and hopefully trickle up for a month... this price action will start convincing the larger players and the media that the next run is coming.  But I don't think its bubble time, instead compare it to the rebound from 2 to 4+ (in early 2012).

[marcus_of_augustus]

He didnt give any technical documentation of how multigateway works until it was very near finished i dont think.. And that turned out far far better than expected. Just because he hasn't given a technical explanation of how it will work doesn't mean he doesn't know what he is doing.

Smelled like a bait and switch.

Normally technical documentation have the key results and core novel concepts described in the abstract (the first paragraph on the front page.) E.g. read Nakamoto's paper.

[thezerg]

At least give this an open minded read... I am sincerely not trying to coin pump. Something huge is actually happening here: http://209.126.70.170/SuperNET.pdf.
Teleport, InstantDEX, Multigateway, cross chain trading, Tradebots, P2p betting, SuperNET. This stuff is not coin (or nxt) specific. These features cannot be disregarded as they will boost ALL of crypto and have never been done before!

Crypto is about to change forever.

Wow, there is not a single technically described idea in that document at all.  Its like 10% trying to be cool, 30% marketing, 40% imaginary ideas that are not original and 20% garbage.  Can I charge you for my time?

[kodtycoon]

He didnt give any technical documentation of how multigateway works until it was very near finished i dont think.. And that turned out far far better than expected. Just because he hasn't given a technical explanation of how it will work doesn't mean he doesn't know what he is doing.

Smelled like a bait and switch.

Normally technical documentation have the key results and core novel concepts described in the abstract (the first paragraph on the front page.) E.g. read Nakamoto's paper.

bait and switch?? whats that? get them to trust with the first thing then scam with the second?

and not everything is done "normally".. crypto wouldnt exist if everyone just followed what was normal.. actually nothing would ever change if everyone stuck to doing what was "normal" at the time.. progress is only ever made by people who do things or create things that are different and therefore do not fit into the present norm. so things should not be written off simply on the premise of not being the norm. that is very very short sighted imo.. actually thats practically mainstream..lol you sure your a crypto head?

[_mr_e]

The difference here is that James has managed to prove himself time and time again. His source code is out in the open and many of the other projects listed are either in beta or near completion. By simply reading the different posts he makes and witnessing the speed in which he can pump out innovative and original code, doing things I've dreamed of crypto doing for the past years, it will become extremely apparent that this man means business and most definitely has the skills to pull something of this caliber off. Not only does he have the skills but he appears to be doing it all for the right reasons and in the spirit of truely decentralized ideals and values.

Do you guys actually think that bitcoin is going to stay exactly as it is and that crypto 5 years from now is not going to be unimaginably different then what it is today? Why is it so hard to consider that changes in this landscape are not going to come out of left field and alter people perception of what crypto does or is? Do you really think all the exciting innovation is going to stop? This shit is going to continue moving faster and faster until we barely recognize the world from what it was. Why not embrace it?

Not to mention the whole point of this thread is about the problems with today's economy and everything that bitcoin is going to be able to do to help solve it. If we really believe in these ideals then why is the thought of using any other tools, cut from the same cloth, to help solve the same problems such an evil concept?

[NewLiberty]

He didnt give any technical documentation of how multigateway works until it was very near finished i dont think.. And that turned out far far better than expected. Just because he hasn't given a technical explanation of how it will work doesn't mean he doesn't know what he is doing.

True, it merely means that no one else knows what he is doing.
We'll have to wait for the code before we will know.
Satoshi did it similarly, except he didn't talk about it much before the code was done.
In the mean time, as usual folks will buy the rumor and sell the news.

[vuduchyld]

"Cryptoland"?

So one becomes a "volunteer" by purchasing assets?  Pass.

[Peter R]

Kodtycoon and Mr. E: That paper is completely fluff.  It reminds me of Nxt's "transparent forging" claim that is supposed to make Nxt robust to "91% attacks" (a statement I think is most likely nonsensical).  Don't you find it strange that the real innovations and technical details in bitcoin can be explained at any level of depth that you're interested in, yet many of these "alt-coin innovations" remain hidden and vague in perpetuity?   Don't you find it odd that very few of the many bright people here are even interested?  

For example, how is James going to implement cross-chain trading (what he calls InstantDEX)?  I've heard Nxt advocates talk about trustless cross-chain trading, yet it's generally accepted that it's impossible to transact with external systems/blockchains in a trustless manner.  If it's not trustless, but rather "low trust," then a solution using m-of-n oracles is already known.  There's never a need for things to be "powered by Nxt."  It seems like a ridiculous statement to me.  
  
The alt-coiners don't appreciate the importance of Satoshi's contribution.  If bitcoin adoption continues, it will be written about in textbooks for centuries to come.  Some of the developers here such as Greg and Gavin will likely be famous historical figures too.  The alt-coin sideshow is largely a distraction.  I don't want to say that all the alt-coin work is crap, because I think there's a small amount of genuine innovation [for example, I think Cryptonote's ring-signature approach made a contribution, and I think the concept of sophisticated contracts popularized by Ethereum made a contribution too (although I think it's much better executed using m-of-n Oracles as per Gavin's suggestion)].  If the alt-coin community does make a real innovation, we are going to take notice.  But to date, the vast majority is either a folly or a scam.    

[sickpig]

"Peter Warburton: The debasement of world currency: It is inflation, but not as we know it.

Being a young man, I was heavily into econometrics -- or economic tricks, as some would have it."

http://gata.org/node/8303/print

--
One of the best essays around. Written in 2001 and even though it's linked from Gata it doesn't focus on gold. Interestingly at the end he lists possible investments to look at but of course bitcoin wasn't around at the time. His criteria seem like a perfect match, for now at least. Gold doesn't make the cut, I assume because of the fifth criterion.

Thanks for this piece of very valuable information.

This part for me is enlightening:

What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts. On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur. On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities or anything else that might be deemed an indicator of inherent value. Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value, not only of the US dollar, but of all fiat currencies. Equally, they seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets.

It is important to recognize that the central banks have found the battle on the second front much easier to fight than the first. Last November, I estimated the size of the gross stock of global debt instruments at $90 trillion for mid-2000. How much capital would it take to control the combined gold, oil and commodity markets? Probably, no more than $200 billion, using derivatives. Moreover, it is not necessary for the central banks to fight the battle themselves, although central bank gold sales and gold leasing have certainly contributed to the cause. Most of the world's large investment banks have over-traded their capital so flagrantly that if the central banks were to lose the fight on the first front, then their stock would be worthless. Because their fate is intertwined with that of the central banks, investment banks are willing participants in the battle against rising gold, oil, and commodity prices.

[cbeast]

Kodtycoon and Mr. E: That paper is completely fluff.  It reminds me of Nxt's "transparent forging" claim that is supposed to make Nxt robust to "91% attacks" (a statement I think is most likely nonsensical).  Don't you find it strange that the real innovations and technical details in bitcoin can be explained at any level of depth that you're interested in, yet many of these "alt-coin innovations" remain hidden and vague in perpetuity?   Don't you find it odd that very few of the many bright people here are even interested?  

For example, how is James going to implement cross-chain trading (what he calls InstantDEX)?  I've heard Nxt advocates talk about trustless cross-chain trading, yet it's generally accepted that it's impossible to transact with external systems/blockchains in a trustless manner.  If it's not trustless, but rather "low trust," then a solution using m-of-n oracles is already known.  There's never a need for things to be "powered by Nxt."  It seems like a ridiculous statement to me.  
  
The alt-coiners don't appreciate the importance of Satoshi's contribution.  If bitcoin adoption continues, it will be written about in textbooks for centuries to come.  Some of the developers here such as Greg and Gavin will likely be famous historical figures too.  The alt-coin sideshow is largely a distraction.  I don't want to say that all the alt-coin work is crap, because I think there's a small amount of genuine innovation [for example, I think Cryptonote's ring-signature approach made a contribution, and I think the concept of sophisticated contracts popularized by Ethereum made a contribution too (although I think it's much better executed using m-of-n Oracles as per Gavin's suggestion)].  If the alt-coin community does make a real innovation, we are going to take notice.  But to date, the vast majority is either a folly or a scam.    

Well said.

tl;dr  If you can't dazzle them with your intellect, baffle them with bullshit. NXT is a smoke and ponies show. Satoshi et. al. spent many years developing a working system and so many people are just stealing their thunder rather than standing on their shoulders.

[sickpig]

Kodtycoon and Mr. E: That paper is completely fluff.  It reminds me of Nxt's "transparent forging" claim that is supposed to make Nxt robust to "91% attacks" (a statement I think is most likely nonsensical).  Don't you find it strange that the real innovations and technical details in bitcoin can be explained at any level of depth that you're interested in, yet many of these "alt-coin innovations" remain hidden and vague in perpetuity?   Don't you find it odd that very few of the many bright people here are even interested?  

For example, how is James going to implement cross-chain trading (what he calls InstantDEX)?  I've heard Nxt advocates talk about trustless cross-chain trading, yet it's generally accepted that it's impossible to transact with external systems/blockchains in a trustless manner.  If it's not trustless, but rather "low trust," then a solution using m-of-n oracles is already known.  There's never a need for things to be "powered by Nxt."  It seems like a ridiculous statement to me.  
  
The alt-coiners don't appreciate the importance of Satoshi's contribution.  If bitcoin adoption continues, it will be written about in textbooks for centuries to come.  Some of the developers here such as Greg and Gavin will likely be famous historical figures too.  The alt-coin sideshow is largely a distraction.  I don't want to say that all the alt-coin work is crap, because I think there's a small amount of genuine innovation [for example, I think Cryptonote's ring-signature approach made a contribution, and I think the concept of sophisticated contracts popularized by Ethereum made a contribution too (although I think it's much better executed using m-of-n Oracles as per Gavin's suggestion)].  If the alt-coin community does make a real innovation, we are going to take notice.  But to date, the vast majority is either a folly or a scam.    

posts like this are one of the reasons I think that very good form of reasoning could be found, even in the "Speculation" sub forum In fact I've to say that this thread is a real treasure.

Peter I really do appreciate your work here, and more broadly on all other btctalk sections. 

[FNG]

http://www.zerohedge.com/news/2014-09-04/shocking-move-ecb-cuts-10-bps-sends-deposit-rate-further-negative-territory


At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
*The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.05%, starting from the operation to be settled on 10 September 2014.
*The interest rate on the marginal lending facility will be decreased by 10 basis points to 0.30%, with effect from 10 September 2014.
*The interest rate on the deposit facility will be decreased by 10 basis points to -0.20%, with effect from 10 September 2014.

[NewLiberty]

http://www.zerohedge.com/news/2014-09-04/shocking-move-ecb-cuts-10-bps-sends-deposit-rate-further-negative-territory


At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
*The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.05%, starting from the operation to be settled on 10 September 2014.
*The interest rate on the marginal lending facility will be decreased by 10 basis points to 0.30%, with effect from 10 September 2014.
*The interest rate on the deposit facility will be decreased by 10 basis points to -0.20%, with effect from 10 September 2014.

Looks like QE is coming, not much room left.

[wachtwoord]

http://www.zerohedge.com/news/2014-09-04/shocking-move-ecb-cuts-10-bps-sends-deposit-rate-further-negative-territory


At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
*The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.05%, starting from the operation to be settled on 10 September 2014.
*The interest rate on the marginal lending facility will be decreased by 10 basis points to 0.30%, with effect from 10 September 2014.
*The interest rate on the deposit facility will be decreased by 10 basis points to -0.20%, with effect from 10 September 2014.

Looks like QE is coming, not much room left.

Yeah the ECB and the fed are equally retarded. And the Japanese think: didn't we do that over 20 years ago?

[devphp]

Kodtycoon and Mr. E: That paper is completely fluff.  It reminds me of Nxt's "transparent forging" claim that is supposed to make Nxt robust to "91% attacks" (a statement I think is most likely nonsensical).  Don't you find it strange that the real innovations and technical details in bitcoin can be explained at any level of depth that you're interested in, yet many of these "alt-coin innovations" remain hidden and vague in perpetuity?   Don't you find it odd that very few of the many bright people here are even interested? 

For example, how is James going to implement cross-chain trading (what he calls InstantDEX)?  I've heard Nxt advocates talk about trustless cross-chain trading, yet it's generally accepted that it's impossible to transact with external systems/blockchains in a trustless manner.  If it's not trustless, but rather "low trust," then a solution using m-of-n oracles is already known.  There's never a need for things to be "powered by Nxt."  It seems like a ridiculous statement to me.   
   
The alt-coiners don't appreciate the importance of Satoshi's contribution.  If bitcoin adoption continues, it will be written about in textbooks for centuries to come.  Some of the developers here such as Greg and Gavin will likely be famous historical figures too.  The alt-coin sideshow is largely a distraction.  I don't want to say that all the alt-coin work is crap, because I think there's a small amount of genuine innovation [for example, I think Cryptonote's ring-signature approach made a contribution, and I think the concept of sophisticated contracts popularized by Ethereum made a contribution too (although I think it's much better executed using m-of-n Oracles as per Gavin's suggestion)].  If the alt-coin community does make a real innovation, we are going to take notice.  But to date, the vast majority is either a folly or a scam.     

This post is full of butthurt that someone else makes innovations and takes value from Bitcoin and puts it into something else. Well, get used to it, it's gonna happen more and more. Bitcoins act as seed capital, Bitcoins fuel and propel all the other crypto 2.0 technologies, decentralized companies, etc. It makes no sense sitting on Bitcoins. Bitcoins can potentially give you 1-10x returns over the next 5 years, keeping with inflation or not. But crypto 2.0 technologies and decentralized companies stock can potentially give you 10-1000x returns over the same period. There you go, deal with it. Your and Bitcoin's status quo will change whether you want it or not. With or without your participation.

[cypherdoc]

http://www.zerohedge.com/news/2014-09-04/shocking-move-ecb-cuts-10-bps-sends-deposit-rate-further-negative-territory


At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
*The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.05%, starting from the operation to be settled on 10 September 2014.
*The interest rate on the marginal lending facility will be decreased by 10 basis points to 0.30%, with effect from 10 September 2014.
*The interest rate on the deposit facility will be decreased by 10 basis points to -0.20%, with effect from 10 September 2014.

Moar black hole bullshit