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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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desired_username
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August 16, 2014, 06:56:15 AM |
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This will prove to be the biggest scam in recorded history.
Maybe the US didn't have enough regulations. /s
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fdiini
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August 16, 2014, 08:37:22 AM |
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There is no reporting of the news in US.
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arbitrage001
Legendary
 Offline
Activity: 1067
Merit: 1000
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August 16, 2014, 09:49:19 AM |
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Audit refusal and refusing to let Germany to repatriate their gold is a very strong signal that the FED has no gold in the vault.
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niothor
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August 16, 2014, 09:56:39 AM |
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TTBit
Legendary
Offline
Activity: 1136
Merit: 1001
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August 16, 2014, 10:46:35 AM |
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Gold is fungible. The Federal reserve and German central bank can make a sweetheart deal for $30B in USD rather than the 670 tonnes of gold. With this money, Germany purchases gold from other sources (locally). Once complete, Germany announces a successful swap.
This way, the Federal reserve can continue to lease out over 100% of their reserves. It works every time until it doesn't.
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good judgment comes from experience, and experience comes from bad judgment
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TheGer
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August 16, 2014, 11:28:32 AM |
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The scary part here is that they are using Fractional Reserve Gold Banking. Creating Gold out of thin air with a certificate which has nothing backing it. They sell the certificate and TADA! free money...
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Daniel91
Legendary
Offline
Activity: 3374
Merit: 1824
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August 16, 2014, 03:50:43 PM |
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This will prove to be the biggest scam in recorded history.
Maybe the US didn't have enough regulations. /s
When they need money, government have power to do whatever they want, either legal or illegal. It's shame that ordinary people don't understand or don't care what their government do. |
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fusioncoins
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August 16, 2014, 05:13:40 PM |
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Just hide your gold coins!
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pedrog
Legendary
Offline
Activity: 2786
Merit: 1031
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August 16, 2014, 05:22:55 PM |
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I guess now it's Federal noReserve.  |
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Parsons
Member
Offline
Activity: 69
Merit: 10
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August 17, 2014, 04:21:52 AM |
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What this really means is good news for BTC
I have to admit I found this so pathetic though that I actually laughed...
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Full Spectrum
Member
Offline
Activity: 62
Merit: 10
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August 17, 2014, 04:54:54 AM |
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Well this makes Switzerland look great!
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-Capitalism is the greatest threat to free markets
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TaunSew
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August 17, 2014, 04:57:18 AM |
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Well this makes Switzerland look great!
Nope. Switzerland has been forwarding people's information to the IRS in the past two years and I suspect any gold in Switzerland is not entirely safe. There's the mentality among bankers that non-bankers are second class humans and are not entitled to their own money. |
There ain't no Revolution like a NEMolution. The only solution is Bitcoin's dissolution! NEM!
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tinof
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August 17, 2014, 08:28:31 AM |
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Well this makes Switzerland look great!
Nope. Switzerland has been forwarding people's information to the IRS in the past two years and I suspect any gold in Switzerland is not entirely safe. There's the mentality among bankers that non-bankers are second class humans and are not entitled to their own money. Bankers are just playing the games following the same rules we all have to play. They are victims just like the rest of us. |
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MargaretsDream
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August 17, 2014, 08:45:37 AM |
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I understand this, it is hard to just give away something valuable like gold.
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TheGer
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August 17, 2014, 10:10:12 AM |
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Lol I am sorry but that is plainly the stupidest thing I have heard someone say all year... Well this makes Switzerland look great!
Nope. Switzerland has been forwarding people's information to the IRS in the past two years and I suspect any gold in Switzerland is not entirely safe. There's the mentality among bankers that non-bankers are second class humans and are not entitled to their own money. Bankers are just playing the games following the same rules we all have to play. They are victims just like the rest of us. |
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jaberwock
Legendary
Offline
Activity: 2548
Merit: 1073
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August 17, 2014, 11:11:13 AM |
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As people said: if you can't touch it, you don't really own it(it is valid for Bitcoin because it needs to be store in some pen drive/HD/paper wallet/wharever).
Specially when you put your precious savings in the hand of the entity that has no one but himself to regulate it. At least against baks you can use the Justice, but what to do against those that are the justice and all the other powers?
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wenben
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August 17, 2014, 11:51:39 AM |
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As people said: if you can't touch it, you don't really own it(it is valid for Bitcoin because it needs to be store in some pen drive/HD/paper wallet/wharever).
Specially when you put your precious savings in the hand of the entity that has no one but himself to regulate it. At least against baks you can use the Justice, but what to do against those that are the justice and all the other powers?
Problem is most people like the convenient and are not aware of what is going on in the world. |
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WEB slicer (OP)
Legendary
Offline
Activity: 1120
Merit: 1001
1NF4xXDDpMVmeazJxJDLrFxuJrCAT7CB1b
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August 17, 2014, 05:58:28 PM |
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Bankers are just playing the games following the same rules we all have to play. They are victims just like the rest of us.
i'm sorry dude, i'm normally not this rude, but you are so dumb. |
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counter
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August 17, 2014, 08:46:55 PM |
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This is why I laugh at people who laugh at Bitcoin. They don't even have a clue about these issues and this is the kind of thing you never hear discussed on the news. The real problems and News that people think can be ignored. This is a scandal in my eyes andI get pretty upset just thinking about really.
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rockBTC
Newbie
Offline
Activity: 56
Merit: 0
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August 17, 2014, 11:58:33 PM |
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There is no reporting of the news in US.
that is because this is FUD. It is illegal to seize property like this. |
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gmx95
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August 18, 2014, 01:37:30 AM |
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I am also starting to think that maybe there is no gold in the US or at least not as much as they claim to be. Otherwise, why not to show the exact figures?
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privateKEY
Newbie
Offline
Activity: 9
Merit: 0
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August 18, 2014, 01:52:58 AM |
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I am also starting to think that maybe there is no gold in the US or at least not as much as they claim to be. Otherwise, why not to show the exact figures?
There is a "hidden" amount of gold owned by the US in fort knox, I would support the government releasing data on this. However being able to say how much gold is in the US and owned by private citizens would require people to "register" their gold which could lead to taking of gold which I would be against. |
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tinof
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August 18, 2014, 05:12:18 AM |
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Lol I am sorry but that is plainly the stupidest thing I have heard someone say all year... Well this makes Switzerland look great!
Nope. Switzerland has been forwarding people's information to the IRS in the past two years and I suspect any gold in Switzerland is not entirely safe. There's the mentality among bankers that non-bankers are second class humans and are not entitled to their own money. Bankers are just playing the games following the same rules we all have to play. They are victims just like the rest of us. Bankers are just playing the games following the same rules we all have to play. They are victims just like the rest of us.
i'm sorry dude, i'm normally not this rude, but you are so dumb. Care to enlighten me why I am wrong? Do you have any counter arguments to invalidate my statement? |
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