BrewCrewFan
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September 18, 2014, 11:43:01 PM |
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gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make. This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow." http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrowUSD is getting weaker and weaker... soon will lose its reserve title...then things will get interesting and to be honest, I hope I am long gone before then.
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cypherdoc (OP)
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September 18, 2014, 11:46:49 PM |
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gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make. This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow." http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrowthanks for the interesting article.
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zeetubes
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September 18, 2014, 11:55:05 PM |
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gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make. This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow." http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrowthanks for the interesting article. May we live in interesting times... People who hold bitcoins aren't necesarily investors. They are equally as likely to be idealists, anarchists or just interested in technology. As user705 pointed out, gold as pure money is not the future, but gold, either long or short, could be a good short to mid term investment or speculative bid.
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cypherdoc (OP)
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September 19, 2014, 12:02:16 AM |
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gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make. This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow." http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrowthanks for the interesting article. May we live in interesting times... People who hold bitcoins aren't necesarily investors. They are equally as likely to be idealists, anarchists or just interested in technology. As user705 pointed out, gold as pure money is not the future, but gold, either long or short, could be a good short to mid term investment or speculative bid. a while back i went over why i thought the peak in gold was in 2011. if i'm right, this was an 11 yo bull which is pretty advanced and even longer than the general commodity bubble we had throughout the noughts. i believe there is a repeating 9 yr gold cycle which bottomed in 2008. this current 9 yr cycle appears to have topped in 2011 after only 3 yr and into a parabola, characteristic of bubble tops. the left translated shape also is suggestive that we've seen the top and is a bearish sign. we won't be bottoming for this cycle for a few more years.
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cbeast
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Let's talk governance, lipstick, and pigs.
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September 19, 2014, 12:04:49 AM |
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Patterns are imaginary. The trick is to understand how imagination works.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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cypherdoc (OP)
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September 19, 2014, 12:11:02 AM |
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Patterns are imaginary. The trick is to understand how imagination works.
true, but my imagination on gold has worked so far.
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zeetubes
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September 19, 2014, 12:17:07 AM |
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Patterns are imaginary. The trick is to understand how imagination works.
true, but my imagination on gold has worked so far. Yup. I'm not comfortable shorting gold because the cost of production is too close to the cost per oz. But I'm not comfortable going long because of the power of the paper market. The stock markets and real estate look scary and I can't shake the feeling that btc is being supressed. Maybe it's one of cash is king moments.
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cypherdoc (OP)
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September 19, 2014, 12:36:30 AM |
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disgusting bankers: Those soft-hearted bankers expressed a concern that without adquate consumer protections, users of Bitcoin would be vulnerable to fraud and theft. Bankers also suggested, presumably out of a concern for national security, that Bitcoin be subject to the same anti-money-laundering procedures, including Know-Your-Consumer, that banks are subjected to. Bankers explicitly suggested that Bitcoin be subjected to the suspicious activities reports (SARs) that banks must currently file. Personally, this all sounds like an attempt at “raising rivals’ costs” to me. http://www.cato.org/blog/bankers-advise-fed-regulate-bitcoin
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iCEBREAKER
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Crypto is the separation of Power and State.
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September 19, 2014, 12:56:51 AM |
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gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
And that's where you're wrong. The world is going digital, something that never existed before. Gold can't compete in a digital world. Bitcoin can. Forget that and you'll pay the price. The lights won't stay on for another 1000 years. Unless Singularity and/or Bitcoin usher in 1000 years of Bitopia. As far as our lifespans go, the old ceiling of gold parity will soon be the new floor. Bitcoin is much rarer (and more easily stored/transmitted/audited/verified) than gold.
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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marcus_of_augustus
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Eadem mutata resurgo
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September 19, 2014, 01:06:40 AM |
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Yup. I'm not comfortable shorting gold because the cost of production is too close to the cost per oz. But I'm not comfortable going long because of the power of the paper market. The stock markets and real estate look scary and I can't shake the feeling that btc is being supressed. Maybe it's one of fiat cash is king moments ... is what you meant right?
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STT
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Catalog Websites
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September 19, 2014, 01:13:27 AM Last edit: September 19, 2014, 01:23:29 AM by STT |
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The world is going digital, something that never existed before. Gold can't compete in a digital world All it takes is a Electromagnetic pulse and you'd find out why just one store of wealth is not happening. Or a really bad solar flare, feasible events. Its very easy for gold to be digital, what is less likely is the distributed network that btc has. Dollars can be backed by gold and so value can be transmitted without chopping up bits of gold Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication Dont you think we could replace gold a long time before 1972. If it needed to be replaced it would have, its been there thousands of years because the one constant is human nature; such as every generation believing they have surpassed the mistakes of the last and then right after repeating those same mistakes
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█████████████████████████ ████████▀▀████▀▀█▀▀██████ █████▀████▄▄▄▄██████▀████ ███▀███▄████████▄████▀███ ██▀███████████████████▀██ █████████████████████████ █████████████████████████ █████████████████████████ ██▄███████████████▀▀▄▄███ ███▄███▀████████▀███▄████ █████▄████▀▀▀▀████▄██████ ████████▄▄████▄▄█████████ █████████████████████████ | BitList | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . REAL-TIME DATA TRACKING CURATED BY THE COMMUNITY . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | List #kycfree Websites |
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zeetubes
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September 19, 2014, 01:22:52 AM |
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Yup. I'm not comfortable shorting gold because the cost of production is too close to the cost per oz. But I'm not comfortable going long because of the power of the paper market. The stock markets and real estate look scary and I can't shake the feeling that btc is being supressed. Maybe it's one of fiat cash is king moments ... is what you meant right? Haha yes. I should have been more specific. One of the best investment strategies ever. Just sit and wait for something interesting to come along. But the dollar's 'strength' is a mirage right now as every currency races to the bottom.
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marcus_of_augustus
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Eadem mutata resurgo
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September 19, 2014, 01:24:49 AM |
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Before the agricultural revolution, it took humanity about one million years on average to develop enough infrastructure/capability to support an additional one million humans living at subsistence levels. After the agricultural revolution, that changed to talking only a few hundred years. Now, after the industrial revolution, that takes 90 minutes on average.
Think about that. Humanity and civilization are changing faster than they ever have before, by many orders of magnitude, and the digitization and electronic interconnectedness of the world is only accelerating that pace.
I think you mean ~90 hours per million? (75 million per year)... and this raises a further very important consideration. Actual population growth rates in the world are about to decline (~40 million per annum by 2050) due to increase in wealth of the developing world above subsistence level and widespread contraception etc as the West has already undergone. What does this mean? At the same time technology and productiveness is increasing exponentially, population will be lowering to stagnating ... i.e. massively deflationary forces. The globe needs a deflationary currency to prevent over-supply, gluts, malinvestments and huge wealth inequality, capital stagnating in pools. Human wealth valuation is non-linear, capital generally functions linearly in it's effectiveness. This is a major mathematical problem for money as a technology to solve.
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User705
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First 100% Liquid Stablecoin Backed by Gold
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September 19, 2014, 01:30:19 AM |
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The world is going digital, something that never existed before. Gold can't compete in a digital world All it takes is a Electromagnetic pulse and you'd find out why just one store of wealth is not happening. Or a really bad solar flare, feasible events. Its very easy for gold to be digital, what is less likely is the distributed network that btc has. Dollars can be backed by gold and so value can be transmitted without chopping up bits of gold Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication Dont you think we could replace gold a long time before 1972. If it needed to be replaced it would have, its been there thousands of years because the one constant is human nature; such as every generation believing they have surpassed the mistakes of the last and then right after repeating those same mistakes Who's "we"? You can not digitize gold unless you've invented a Star Trek transporter. You can digitize gold obligations which are only as good as whoever is digitizing them. And an Emp / solar flair will screw that up just like bitcoin.
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cypherdoc (OP)
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September 19, 2014, 01:37:57 AM Last edit: September 19, 2014, 02:16:32 AM by cypherdoc |
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Gold tanking collapsing again:
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cypherdoc (OP)
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September 19, 2014, 01:40:24 AM |
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All it takes is a Electromagnetic pulse and you'd find out why just one store of wealth is not happening. Or a really bad solar flare, feasible events.
c'mon man, when's the last time that happened? have you heard of backups?
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Melbustus
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September 19, 2014, 01:43:51 AM |
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Before the agricultural revolution, it took humanity about one million years on average to develop enough infrastructure/capability to support an additional one million humans living at subsistence levels. After the agricultural revolution, that changed to talking only a few hundred years. Now, after the industrial revolution, that takes 90 minutes on average.
Think about that. Humanity and civilization are changing faster than they ever have before, by many orders of magnitude, and the digitization and electronic interconnectedness of the world is only accelerating that pace.
I think you mean ~90 hours per million? (75 million per year)No, it's minutes. Just double checked: Note that it's not talking about straight population growth, but about the level of economic activity/wealth created per unit time that can theoretically support a given amount of population growth. This is from Bostrom's new "Superintelligence" book: http://www.amazon.com/Superintelligence-Dangers-Strategies-Nick-Bostrom/dp/0199678111
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Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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Syke
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September 19, 2014, 04:54:48 AM |
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All it takes is a Electromagnetic pulse and you'd find out why just one store of wealth is not happening. Or a really bad solar flare, feasible events.
c'mon man, when's the last time that happened? have you heard of backups? Exactly. Bitcoin is highly redundant. The source code is duplicated all over the place. There are copies of the blockchain scattered throughout the world, on hard drives, on flash drives, on optical discs, etc.
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Buy & Hold
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