Gold collapsing. Bitcoin UP.

[cypherdoc]

the key question is whether Bitcoin can withstand the deflation.

personally, my bet is that it can.

[cypherdoc]

https://twitter.com/cypherdoc2/status/510438606226599937

[cypherdoc]

i heard an interesting perspective the other day on the birth of our country: 

we are a country born out of war (WWII).  our prosperity was born out of war.  we have continually lived war.  we are a warring nation.

http://www.zerohedge.com/news/2014-09-12/us-unveils-latest-russian-sanctions-putin-immediately-responds-russia-drafting-retal

[justusranvier]

we are a country born out of war (WWII).  our prosperity was born out of war.  we have continually lived war.  we are a warring nation.

You Live In A Murder Based Society

[cypherdoc]

Still incredibly encouraging:

[messibtc]

Is it the hashrate from the start to now?
I see a big drop and a sudden recover in the last period, maybe it's time to hold some coins.

[adaseb]

Is it just me or isnt the reason why GOLD is going down lately because the dollar is going up.

Very little correlation to bitcoin

[Wekkel]

the key question is whether Bitcoin can withstand the deflation.

personally, my bet is that it can.

Love to hear your arguments.

[Adrian-x]

Is it the hashrate from the start to now?
I see a big drop and a sudden recover in the last period, maybe it's time to hold some coins.

No.

The start to now is way more impressive

http://bitcoin.sipa.be/

And I think it's a good time to hold.

[cypherdoc]

more black hole sh*t --> deflation:

http://www.zerohedge.com/news/2014-09-12/harsh-austerity-sends-italian-spanish-debt-record-highs

[cypherdoc]

pretty huge:

The decision by the CFTC, which regulates swaps and futures, constitutes the first recognition by a U.S. federal regulator of a bitcoin financial product, even if the product does not itself involve the exchange of actual bitcoins.

http://www.reuters.com/article/2014/09/12/us-usa-bitcoin-cftc-idUSKBN0H71FU20140912?feedType=RSS&feedName=technologyNews

[inca]

pretty huge:

The decision by the CFTC, which regulates swaps and futures, constitutes the first recognition by a U.S. federal regulator of a bitcoin financial product, even if the product does not itself involve the exchange of actual bitcoins.

http://www.reuters.com/article/2014/09/12/us-usa-bitcoin-cftc-idUSKBN0H71FU20140912?feedType=RSS&feedName=technologyNews

And is a nod to the big boys to start pushing bitcoin around.

[cypherdoc]

pretty huge:

The decision by the CFTC, which regulates swaps and futures, constitutes the first recognition by a U.S. federal regulator of a bitcoin financial product, even if the product does not itself involve the exchange of actual bitcoins.

http://www.reuters.com/article/2014/09/12/us-usa-bitcoin-cftc-idUSKBN0H71FU20140912?feedType=RSS&feedName=technologyNews

And is a nod to the big boys to start pushing bitcoin around.

note in the article that a prerequisite to the approval was the construction of a non-manipulable index which ended up being a composite of 6 exchanges, presumably spread round the world, which is exactly what i have been arguing needs to be done to prevent the pushing around you indicate.  this is key and should represent an opportunity for more quality well run exchanges to hopefully open up to spread the risk.

[cypherdoc]

unloading so many stacks is going to be just brutal.  lotsa sore backs like i found out in 2011.  not to mention the lack of liquidity and haircuts involved. 

[cypherdoc]

this is absolutely unbelievable.  i guess we don't have to worry about blockchain storage:

[rocks]

this is absolutely unbelievable.  i guess we don't have to worry about blockchain storage:

Information storage and retrieval is becoming free.

[cypherdoc]

risk rising once again:

[cypherdoc]

this is absolutely unbelievable.  i guess we don't have to worry about blockchain storage:

Information storage and retrieval is becoming free.

that's bad for incumbents.

[cypherdoc]

please don't get caught catching a falling knife:

[molecular]

Bitcoin annualised inflation rates just recently went into single figures ... now at 9.91%.

I feel like a celebration is in order for the bitcoin algorithm taming inflation to below 10%!!

https://bitcointalk.org/index.php?topic=130619.msg1397456#msg1397456

Looks like we just surpassed the cross on the second chart of time.

I don't see what you see. The cross under 10% is supposed to happen in mid-2015. It may have been brought earlier by the constant increase in hashrate, but at the same time this causes a shorter block time and higher coin emission (around +10% these days), so I think it can be confidently stated that we are still months away from going under 10% annual inflation.

At block 320,351 (right about now) annualized inflation is roughly:

Code:

(1 + (25*6*24) / ( 210000 * 50 + (320351 - 210000) * 25 ) ) ^ 365 - 1 = 10.4%

EDIT: corrected a 24 to a 25 which I previously thought I had corrected but instead f-ed up.

So yeah, if this is correct, we're not at 10% yet (about 140 more days to go)