Rally!!!!!

[hazek]

This is not nice, I don't agree with what's going on, but to me it looks way more stable than before.

I don't understand how you can call an inflation rate of 3% stable, stably losing it's value maybe, but definitely not stable. Not to mention the horrible uncertainty of Greece and potential sovereign debt demonetization and the inflation that would case..

[proudhon]

That scenario isnt unlikely. I wonder how we will change BTC to Cash if bank transfers and ATM witdrs get limited?

I to, wonder how this is gonna play out.

That's the real beauty of bitcoin.  It's can be usable as a currency on its own right, and if things got bad enough and/or adoption was widespread enough, there really wouldn't be too much of a need to convert back to cash.  That's the future I'm hoping for.  I don't want to convert the bitcoins I now have back into traditional currency.

[Grouver (BtcBalance)]

That scenario isnt unlikely. I wonder how we will change BTC to Cash if bank transfers and ATM witdrs get limited?

I to, wonder how this is gonna play out.

That's the real beauty of bitcoin.  It's can be usable as a currency on its own right, and if things got bad enough and/or adoption was widespread enough, there really wouldn't be too much of a need to convert back to cash.  That's the future I'm hoping for.  I don't want to convert the bitcoins I now have back into traditional currency.

True, but euros still always need to be converted to Bitcoins. Since not everybody in the EU will have Bitcoins to there possession. And mostly now a days that still works cause Intersango for instance have some polish bank they trust and won't freeze there account.
I remember that Tradehill had problems with there bank in the EU a while ago.
So if in the future maybe banks will prevent companies like Intersango to do there biz, I wonder how this is gonna play out.
Localbitcoins.com will be in rally then yes.

[anu]

This is not nice, I don't agree with what's going on, but to me it looks way more stable than before.

I don't understand how you can call an inflation rate of 3% stable, stably losing it's value maybe, but definitely not stable. Not to mention the horrible uncertainty of Greece and potential sovereign debt demonetization and the inflation that would case..

3% inflation is propaganda. They get there by including consumer electronics and excluding energy from the basket. The real rate should be some point between 5% and 7%.

If you take the Austrian definition of inflation (increase of money), it's probably in the 20% at the moment.

My meaning of stable is something like "unlikely to collapse". Which I think it is. The Commission is very close now to being able to suspend several markets - they are certainly working towards that goal. And it looks to me they will get applause from Occupy and friends if they do.

[LightRider]

The economy isn't broken. It doesn't need "fixing". This is exactly its intended condition. Money isn't real. Interest and debt are not real. Our whole economy has been set up to steal.

[hazek]

This is not nice, I don't agree with what's going on, but to me it looks way more stable than before.

I don't understand how you can call an inflation rate of 3% stable, stably losing it's value maybe, but definitely not stable. Not to mention the horrible uncertainty of Greece and potential sovereign debt demonetization and the inflation that would case..

3% inflation is propaganda. They get there by including consumer electronics and excluding energy from the basket. The real rate should be some point between 5% and 7%.

If you take the Austrian definition of inflation (increase of money), it's probably in the 20% at the moment.

I know all of that, I just wanted to make a point for which I thought even 3% is enough and I didn't want my point being rejected because I used numbers many people wouldn't believe because it goes against what their precious owners(governments) tell them, do get what I'm trying to say?

My meaning of stable is something like "unlikely to collapse". Which I think it is. The Commission is very close now to being able to suspend several markets - they are certainly working towards that goal. And it looks to me they will get applause from Occupy and friends if they do.

I guess that's one way to look at it.

[hazek]

The economy isn't broken. It doesn't need "fixing". This is exactly its intended condition. Money isn't real. Interest and debt are not real. Our whole economy has been set up to steal.

The sky isn't blue, water isn't wet, our whole existence has been set up so we can die.

 

[anu]

I guess that's one way to look at it.

As said, I don't like it. But this is the picture I am currently getting. The commission has the power to keep it going at all (our) cost. I think people have no phantasy of what govts can do. I think we won't go hyper until debt is at 800% GDP. Because that is about where it happened in the past.

The German real estate market has a capitalization of 5 Trillion. Add the Dutch, Austrian, French, Finnish.... They can put a mandatory mortgage of 30% on your house to raise another 4 Trillion or so. I don't like it, but this is what I think they will do. After inflation, of course, because inflation removes the debt of house owners, so they can easily put new ones on. They did it before (1924).

In short, they will rip us blind to keep the system going. Forget about what collapse may happen, because it won't. Again: I don't like it, but this is what I think will happen, whether I like it or not.

[FreeMoney]

I guess that's one way to look at it.

As said, I don't like it. But this is the picture I am currently getting. The commission has the power to keep it going at all (our) cost. I think people have no phantasy of what govts can do. I think we won't go hyper until debt is at 800% GDP. Because that is about where it happened in the past.

The German real estate market has a capitalization of 5 Trillion. Add the Dutch, Austrian, French, Finnish.... They can put a mandatory mortgage of 30% on your house to raise another 4 Trillion or so. I don't like it, but this is what I think they will do. After inflation, of course, because inflation removes the debt of house owners, so they can easily put new ones on. They did it before (1924).

In short, they will rip us blind to keep the system going. Forget about what collapse may happen, because it won't. Again: I don't like it, but this is what I think will happen, whether I like it or not.

Hyper happens from loss of demand for a currency. People keep demanding really shitty currencies when there are no other options, but if bitcoin is usable enough those old currencies could self destruct while they still look healthy compared to breakdown points of the past.

[hazek]

I guess that's one way to look at it.

As said, I don't like it. But this is the picture I am currently getting. The commission has the power to keep it going at all (our) cost. I think people have no phantasy of what govts can do. I think we won't go hyper until debt is at 800% GDP. Because that is about where it happened in the past.

The German real estate market has a capitalization of 5 Trillion. Add the Dutch, Austrian, French, Finnish.... They can put a mandatory mortgage of 30% on your house to raise another 4 Trillion or so. I don't like it, but this is what I think they will do. After inflation, of course, because inflation removes the debt of house owners, so they can easily put new ones on. They did it before (1924).

In short, they will rip us blind to keep the system going. Forget about what collapse may happen, because it won't. Again: I don't like it, but this is what I think will happen, whether I like it or not.

I don't disagree that this is what will happen which is why I own gold and am looking to sell a recently inherited real estate ASAP and buy gold, but calling right now stable I can't agree with.. It's to relativist for me. It's unstable already and it's going to get far worse and far more unstable is the correct assessment.

[Yuhfhrh]

Owch $5.81, someone just sold like 10k btc?

[ribuck]

... am looking to sell a recently inherited real estate ASAP and buy gold

Well that's a difficult call. There's historical precedent for gold being confiscated, and there's historical precedent for land being confiscated.

If it were me, I'd probably hang on to the real estate, simply because it avoids the expenses you will incur by selling real estate and buying gold.

[Sitarow]

Owch $5.81, someone just sold like 10k btc?

It can be tricky to know when to "maximize" gains on an upswing in prices, however tempting it may be.

Making "Realized Gains" is a far more realistic attempt at making profitable returns in this market.

[molecular]

That scenario isnt unlikely. I wonder how we will change BTC to Cash if bank transfers and ATM witdrs get limited?

In that scenario you should expect to see websites like this flourish

http://localbitcoins.com/

ah, I was looking for a well-done site like this for some time now (tradebitcoins.com just doesn't cut it). localbitcoins.com seems to be populated quite well already. cool, thanks!

[molecular]

Owch $5.81, someone just sold like 10k btc?

to be expected

[proudhon]

Owch $5.81, someone just sold like 10k btc?

to be expected

It's a good thing.  The last thing we want is this getting out of control.  I won't be surprised to see selling down to $5.50, and even lower.  I don't think $6 is going down as easily as everyone else.

[jojo69]

The economy isn't broken. It doesn't need "fixing". This is exactly its intended condition. Money isn't real. Interest and debt are not real. Our whole economy has been set up to steal.

You are, like, a poet man

[interlagos]

The economy isn't broken. It doesn't need "fixing". This is exactly its intended condition. Money isn't real. Interest and debt are not real. Our whole economy has been set up to steal.

Awesome quote!
For those who are wondering where it's from:
http://www.youtube.com/watch?v=ELEwjVRxxGE
at 2:53 but better watch the whole thing, it's precious!

By the way those guys accept bitcoin donations at:
http://thejuicemedia.com/donate/

[jojo69]

http://www.youtube.com/watch?v=ELEwjVRxxGE

holy shit!!! THANK YOU!!!

I would offer

Hayek vs. Keynes


and

round 2

but I like yours even better

[hazek]

Awesome, the rally seems to be slowing down, the $6 wall tripled over the last 3 hours.