Every old-timer goldbug always brings up the "what if the internet goes away" argument. Then they triumphantly crow that gold is used for thousands of years, blah blah blah blah.
Well, guess what, we had a "trial run" of that gold superiority in the Philippines after the typhoon. I didn't see any local businesses selling food for gold coins, or someone trading gold for a plane ticket out of there. There was no infrastructure remaining, no food, no water. About as "hell on earth" as you can get when prior to that you had all three.
That is the problem with that scenario. Food will rise in cost until it is worth more than gold or anything else. I have some bread, and I NEED it, so fuck you and your gold coins buddy - because I'll eat it and outlast you, then I'll take your shiny metal from your dead fingers.
As for the whole "internet down" scenario, I can only shake my head. That's the best you can do? The ENTIRE WORLD has to be fucked for Bitcoin to fail? Trying too hard, aren't you? It just boggles my mind.
Goddamn dinosaurs.
Topic: 2013-11-15 CNS - Chinese 'damas' mad for bitcoin (Read 2584 times)
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requires technology
True, but the needed technology is everywhere. It's like saying gold is bad because humans using it need air to breathe. Not a problem when you are surrounded by air.
Not yet, but someday.
When the technology is as common as clean air, there may be less clean air.
A diversified stash is best - because we just don't know what the future holds.
Gold, bitcoin, cash - there are scenarios where any one of these could be rendered useless
and possibly 2 of them. Very unlikely all 3 at the same time though.
Gold, bitcoin, cash - there are scenarios where any one of these could be rendered useless
and possibly 2 of them. Very unlikely all 3 at the same time though.
Yes.
Bits and Atoms.
One is transcendent, ephemeral, virtual, the other tangible, solid, eternal.
To say one is better is like saying energy is better than matter.
Throw cash into the mix, only if you need legal tender, something folks are forced by law to accept.
check it out, amazing, people flocking to wikipedia after the tv show!
http://stats.grok.se/zh/latest60/%E6%AF%94%E7%89%B9%E5%B8%81
http://stats.grok.se/zh/latest60/%E6%AF%94%E7%89%B9%E5%B8%81
One of Chinese satellite TV channels released a 22-minute show on Bitcoin today:
http://v.ifeng.com/news/finance/201311/01f1f7a2-e0f8-464c-9f93-b360dbdfa2b1.shtml
problem is the video is going so slow, I still can't watch it, is it prime time there now and everyone watching at the moment or something.
http://v.ifeng.com/news/finance/201311/01f1f7a2-e0f8-464c-9f93-b360dbdfa2b1.shtml
problem is the video is going so slow, I still can't watch it, is it prime time there now and everyone watching at the moment or something.
A diversified stash is best - because we just don't know what the future holds.
Gold, bitcoin, cash - there are scenarios where any one of these could be rendered useless
and possibly 2 of them. Very unlikely all 3 at the same time though.
Gold, bitcoin, cash - there are scenarios where any one of these could be rendered useless
and possibly 2 of them. Very unlikely all 3 at the same time though.
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Memory fails
Affects also your gold (hidden gold stashes). If you can create a gold stash you can remember in your brain, you can create a bitcoin brain wallet that you can remember in your brain.
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requires technology
True, but the needed technology is everywhere. It's like saying gold is bad because humans using it need air to breathe. Not a problem when you are surrounded by air.
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can't wear virtual on your finger as a symbol of the purity of your eternal love.
Of course you can! Have some imagination!
Buried treasure has territorial issues, isn't transportable, and is otherwise extremely impractical for many eventualities.
Brainwallets do it all: deniability, instant access, not capital controllable, not stealable...
Brainwallets do it all: deniability, instant access, not capital controllable, not stealable...
Memory fails, people have strokes, requires technology, can't wear virtual on your finger as a symbol of the purity of your eternal love.
Don't get me wrong, I love bitcoin and have more of it now than gold, but nothing is perfect, don't oversell. Brainwallets do not "do it all".
Quote from: BTCLuke link=topic=334630.msg3599592#msg3599592
You'll know it's arrived because Western Union will be placing little "going out of business" signs on all of their shops. 
Western Union is Borg. They will assimilate Bitcoin.
Buried treasure has territorial issues, isn't transportable, and is otherwise extremely impractical for many eventualities.
Brainwallets do it all: deniability, instant access, not capital controllable, not stealable...
Brainwallets do it all: deniability, instant access, not capital controllable, not stealable...
... yes, and all computers, and backups are secure?
"Ring the bells that still can ring, Forget your perfect offering, there is a hole in everything, that's how the light gets in."
I was speaking about deniable systems, like a brainwallet."Ring the bells that still can ring, Forget your perfect offering, there is a hole in everything, that's how the light gets in."
OK, then maybe he was speaking of his MATS vaulted bullion.
Or his buried treasure chest with a memorized or encoded map.
We all love our bitcoin, but lets not overreach. Its not perfect for everyone or all purposes, and may never be, that doesn't mean it is anything less than what it is, the best new money produced in ages.
... yes, and all computers, and backups are secure?
"Ring the bells that still can ring, Forget your perfect offering, there is a hole in everything, that's how the light gets in."
I was speaking about deniable systems, like a brainwallet. "Ring the bells that still can ring, Forget your perfect offering, there is a hole in everything, that's how the light gets in."
Au contraire! If you store it in a bank vault, they already have the keys! If you hide it in your house, they can always rip your house apart trying to find it while you are away. (Or detained for one of infinite reasons)
... yes, and all computers, and backups are secure?
"Ring the bells that still can ring, Forget your perfect offering, there is a hole in everything, that's how the light gets in."
the chinese see bitcoin as a more practical finite resource than gold and they are going mad for it, it's sad that they have more fore site than the rest of the planet
I don't even know if that is true, but why is it sad? I've noticed renewed interest among the chinese for the chinese wikipedia page on bitcoin:
http://stats.grok.se/zh/latest30/%E6%AF%94%E7%89%B9%E5%B8%81
last time it spiked at the end of October after their major TV channel showed a news piece on the canadian ATM, so yesterday there was another spike, maybe another mention on their TV, who knows.
http://stats.grok.se/zh/latest30/%E6%AF%94%E7%89%B9%E5%B8%81
last time it spiked at the end of October after their major TV channel showed a news piece on the canadian ATM, so yesterday there was another spike, maybe another mention on their TV, who knows.
Bitcoin-QT download statistics shows China at the top again http://sourceforge.net/projects/bitcoin/files/Bitcoin/stats/map .
It's a shame that Multibit can't publish any download statistics.
i dont think gold and bitcoin are so different in this respect. the only way the government can confiscate your gold is by sending goons around to hold your feet to the fire.
Au contraire! If you store it in a bank vault, they already have the keys! If you hide it in your house, they can always rip your house apart trying to find it while you are away. (Or detained for one of infinite reasons) Deniability is the 21st century's most important technological invention. If someone with enough power wants your gold badly enough; THEY WILL GET IT. Period, end of story. And you risk life in prison or a bullet in the head trying to hide it!
Even outside the government, for instance the mafia or a skilled & dangerous criminal, can have your gold whenever they want it.
If someone wants your deniable data (including a brainwallet) badly enough; they can't kill you for something they can't detect you have, nor are they very likely to be able to hold you very long on the suspicion that you have it.
Check out Julian Assange's Rubberhose file system for more on this subject.
I see deniable data as the first real advancement in human freedom since the gun. It's that big of a deal.
why do you suppose someone who is under such duress would be more or less likely to give up one than the other?
If the data is truly deniable, there is never a reason to give it up, and far less likely to be traced to you in the first place.still i think my argument applies as to why grandma would prefer gold to bitcoin, assuming world war 3 doesn't happen.
In the universe of bitcoin, grandmas still do not exist. We'll get to her in 2015 or 2016... 
40% is an amazing number. Just goes to show how the West really is unjustified in accusing the Chinese of sexism: apparently this ratio is commonplace in tech industries in China.
Here's a quote from Jenny Bai, an executive of Girls in Tech China:
Here's a quote from Jenny Bai, an executive of Girls in Tech China:
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Mao taught that women in China hold up half the sky, which is something that still holds true amongst today’s generation; Chinese women also have a stronger education background in science and tech than American women. These hard skills, coupled with society’s mentality that women can do whatever they choose, definitely takes down the general idea of a gender discrimination barrier.
the chinese see bitcoin as a more practical finite resource than gold and they are going mad for it, it's sad that they have more fore site than the rest of the planet
ill concede that you are probably right about all of these things. the thing is that you might not be, and the chance that i am wrong about what i believe about gold is much slimmer than the chance that i am wrong about what i believe about bitcoin. so for example i dont think that either gold or bitcoin are going to crash down to a value of 0 but if i was to be wrong about that it would be much more likey that bitcoin would crash down to 0 than gold, relatively speaking. in my eyes this makes gold safer and if its safety and security that you are after than gold is the best bet.
with that being said i dont own very much gold because im young and ultimate safety is not an appealing promise for me. Imagine however that you are an old retired grandma who has earned more than enough to survive the rest of her life, is she really going to want to jump on the btc rollercoaster, even if the general trend is up? what good does becoming a millionaire do her, she just wants to bake cakes and watch soap operas and be secure in her ability to do those things.
with that being said i dont own very much gold because im young and ultimate safety is not an appealing promise for me. Imagine however that you are an old retired grandma who has earned more than enough to survive the rest of her life, is she really going to want to jump on the btc rollercoaster, even if the general trend is up? what good does becoming a millionaire do her, she just wants to bake cakes and watch soap operas and be secure in her ability to do those things.
You make one mistake gold DOES NOT stay with the owner , at war's!
Gold does not loose value but you loose the gold!
Thats why bitcoin is superior over gold.
bitcoins can be stored in your brain , so nobody can proof you have them or detect it when robbing you!
with gold , a kalasnikov at your head and you will not keep it.
with bitcoins even killing you will not give them your bitcoins!
http://www.youtube.com/watch?v=_4QFErOdTag explained.
i dont think gold and bitcoin are so different in this respect. the only way the government can confiscate your gold is by sending goons around to hold your feet to the fire. why do you suppose someone who is under such duress would be more or less likely to give up one than the other?
*edit* i suppose it would be harder to hide your gold coins than your bitcoins. still i think my argument applies as to why grandma would prefer gold to bitcoin, assuming world war 3 doesn't happen.
I've noticed renewed interest among the chinese for the chinese wikipedia page on bitcoin:
http://stats.grok.se/zh/latest30/%E6%AF%94%E7%89%B9%E5%B8%81
last time it spiked at the end of October after their major TV channel showed a news piece on the canadian ATM, so yesterday there was another spike, maybe another mention on their TV, who knows.
http://stats.grok.se/zh/latest30/%E6%AF%94%E7%89%B9%E5%B8%81
last time it spiked at the end of October after their major TV channel showed a news piece on the canadian ATM, so yesterday there was another spike, maybe another mention on their TV, who knows.
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