Bitcoin or gold? - page 517. | Bitcointalksearch.org

bryant.coleman

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Quote from: AlexGR on September 27, 2015, 12:15:32 PM

There's a tremendous amount of extractable gold, waiting to be mined. It just needs the proper price levels to become economical to do so.

Right now, the amount of extractable gold is around 70,000 tonnes. There is a lot more around, especially in the ocean. But mining these deposits will be tremendously expensive, and will cost as much as $100,000 per oz. Looking at the current price ($1150 per oz), I don't think that these deposits will ever be classified as "extractable".

AlexGR

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Quote from: bryant.coleman on September 26, 2015, 09:13:25 AM

Even without an economic crisis, the gold price will increase. Central banks are purchasing gold like never before, and only 20-years worth of extractable gold remains to be mined out.

There's a tremendous amount of extractable gold, waiting to be mined. It just needs the proper price levels to become economical to do so.

RealBitcoin

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Quote from: bryant.coleman on September 26, 2015, 10:35:37 AM

Quote from: deisik on September 26, 2015, 10:04:50 AM

If you encrypt your wallet with a strong enough password, you can be pretty damn sure your money won't be stolen. This is obviously not the case with the gold that you have buried in the backyard of your home...

My friend had $5,000 worth of Bitcoins in a Blockchain.info online wallet, which was backed up by two very strong passwords (One for login, and the other for transaction). Email confirmation was also enabled. But somehow, the thieves managed to steal all the coins two months ago. Till now, we don't know how the passwords were cracked, but incidents such as this one scares a lot of potential Bitcoin users.

Probably he had a keylogger on his PC that logged the private key when he signed his PC. Its not enough to have many security features if your PC is full of virus.

1 virus can easily log the RAM and when you sign a transaction and send online it can reveal the private key.

lorylore

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Quote from: bryant.coleman on September 26, 2015, 10:35:37 AM

Quote from: deisik on September 26, 2015, 10:04:50 AM

If you encrypt your wallet with a strong enough password, you can be pretty damn sure your money won't be stolen. This is obviously not the case with the gold that you have buried in the backyard of your home...

My friend had $5,000 worth of Bitcoins in a Blockchain.info online wallet, which was backed up by two very strong passwords (One for login, and the other for transaction). Email confirmation was also enabled. But somehow, the thieves managed to steal all the coins two months ago. Till now, we don't know how the passwords were cracked, but incidents such as this one scares a lot of potential Bitcoin users.

There are many scam accusations to blockchain wallets recenlty,
I noticed also that blockchain wallet is removed from the bitcon.org (https://bitcoin.org/en/choose-your-wallet)
There should be no more trust to this website to use it as a wallet, your friend's story is terrible and should take that as a lesson for us.

deisik

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Quote from: bryant.coleman on September 26, 2015, 10:35:37 AM

Quote from: deisik on September 26, 2015, 10:04:50 AM

If you encrypt your wallet with a strong enough password, you can be pretty damn sure your money won't be stolen. This is obviously not the case with the gold that you have buried in the backyard of your home...

My friend had $5,000 worth of Bitcoins in a Blockchain.info online wallet, which was backed up by two very strong passwords (One for login, and the other for transaction). Email confirmation was also enabled. But somehow, the thieves managed to steal all the coins two months ago. Till now, we don't know how the passwords were cracked, but incidents such as this one scares a lot of potential Bitcoin users.

I'm almost certain that your friend's passwords hadn't been cracked, since it is next to impossible to do (read, just plain impossible for strong passwords). And I'm as certain that the passwords had been intercepted as plain text, not deciphered...

Did your friend access the Blockchain.info wallet through a Tor network?

bryant.coleman

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Quote from: deisik on September 26, 2015, 10:04:50 AM

If you encrypt your wallet with a strong enough password, you can be pretty damn sure your money won't be stolen. This is obviously not the case with the gold that you have buried in the backyard of your home...

My friend had $5,000 worth of Bitcoins in a Blockchain.info online wallet, which was backed up by two very strong passwords (One for login, and the other for transaction). Email confirmation was also enabled. But somehow, the thieves managed to steal all the coins two months ago. Till now, we don't know how the passwords were cracked, but incidents such as this one scares a lot of potential Bitcoin users.

lorylore

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Quote from: markj113 on September 26, 2015, 09:50:23 AM

Quote from: lorylore on September 26, 2015, 09:45:53 AM

Most people that have invested and are investing in gold are people that always should be afraid from thieves.
Because gold is something physical thing and i saw in TV that people that hold golds are allowed to have gun for self protection.
Investing in bitcoin is something digital (virtual) and it can be hidden and other people can not know what how much is your budget..

Checked the scam accusation thread here lately?

People are loosing bitcoin through scams, hacked wallets, dodgy exchanges, fraud, key loggers etc.

I dont worry about my gold stash but I always wonder if my bitcoin is still in my wallet.

No, i haven't seen it yet, can you show me the link to the scam accusation thread!!!
People should learn how to protect their self when they are dealing through internet.
Because the security becomes more and more unsecured if things aren't updated.(antivirus anti keyloggers and other things.)

deisik

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Quote from: n2004al on September 26, 2015, 10:14:42 AM

Quote from: deisik on September 26, 2015, 10:04:50 AM

Quote from: n2004al on September 26, 2015, 09:56:17 AM

Quote from: markj113 on September 26, 2015, 09:50:23 AM

Quote from: lorylore on September 26, 2015, 09:45:53 AM

Most people that have invested and are investing in gold are people that always should be afraid from thieves.
Because gold is something physical thing and i saw in TV that people that hold golds are allowed to have gun for self protection.
Investing in bitcoin is something digital (virtual) and it can be hidden and other people can not know what how much is your budget..

Checked the scam accusation thread here lately?

People are loosing bitcoin through scams, hacked wallets, dodgy exchanges, fraud, key loggers etc.

I dont worry about my gold stash but I always wonder if my bitcoin is still in my wallet.

Anything is not immune from fraud and from thieves. So nor them who have gold and nor those who have bitcoin can have the final security. Both of them can be victims of burglars and can lost equally their wealth. So don't discuss about this my friends. If one of you will be unfortunate will be victim of a malefactor. You must pray to not be any of you.

If you encrypt your wallet with a strong enough password, you can be pretty damn sure your money won't be stolen. This is obviously not the case with the gold that you have buried in the backyard of your home...

But if you lose you strong encrypted password you will lose for sure and definitely your bitcoins. It is the same like can be stolen by a thief. Conclusion? You are not immune from the thieves. The thief in your case is yourself who have lost your password.

Lol, I guess if you come to forget passwords to the money in your wallets, you may actually no longer need it. In any case, this has absolutely nothing to do with money theft...

n2004al

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Quote from: deisik on September 26, 2015, 10:04:50 AM

Quote from: n2004al on September 26, 2015, 09:56:17 AM

Quote from: markj113 on September 26, 2015, 09:50:23 AM

Quote from: lorylore on September 26, 2015, 09:45:53 AM

Most people that have invested and are investing in gold are people that always should be afraid from thieves.
Because gold is something physical thing and i saw in TV that people that hold golds are allowed to have gun for self protection.
Investing in bitcoin is something digital (virtual) and it can be hidden and other people can not know what how much is your budget..

Checked the scam accusation thread here lately?

People are loosing bitcoin through scams, hacked wallets, dodgy exchanges, fraud, key loggers etc.

I dont worry about my gold stash but I always wonder if my bitcoin is still in my wallet.

Anything is not immune from fraud and from thieves. So nor them who have gold and nor those who have bitcoin can have the final security. Both of them can be victims of burglars and can lost equally their wealth. So don't discuss about this my friends. If one of you will be unfortunate will be victim of a malefactor. You must pray to not be any of you.

If you encrypt your wallet with a strong enough password, you can be pretty damn sure your money won't be stolen. This is obviously not the case with the gold that you have buried in the backyard of your home...

But if you lose you strong encrypted password you will lose for sure and definitely your bitcoins. It is the same like can be stolen by a thief. Conclusion? You are not immune from the thieves. The thief in your case is yourself who have lost your password.

markj113

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Quote from: SerenaL on September 26, 2015, 09:52:47 AM

Gold makes me feel secure in case of a SHTF situation. I rather prefer bitcoin due to the ease of transportation. Try smuggling $100,000 of gold through an airport and see the harassment you get.

Is this a situation that many people encounter on a regular basis or just a make believe situation highlighting digital storage.

p.s. $100,000 dollars of gold is only 2.7kg and the size of about 2 1/2 smart phones.

deisik

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Quote from: n2004al on September 26, 2015, 09:56:17 AM

Quote from: markj113 on September 26, 2015, 09:50:23 AM

Quote from: lorylore on September 26, 2015, 09:45:53 AM

Most people that have invested and are investing in gold are people that always should be afraid from thieves.
Because gold is something physical thing and i saw in TV that people that hold golds are allowed to have gun for self protection.
Investing in bitcoin is something digital (virtual) and it can be hidden and other people can not know what how much is your budget..

Checked the scam accusation thread here lately?

People are loosing bitcoin through scams, hacked wallets, dodgy exchanges, fraud, key loggers etc.

I dont worry about my gold stash but I always wonder if my bitcoin is still in my wallet.

Anything is not immune from fraud and from thieves. So nor them who have gold and nor those who have bitcoin can have the final security. Both of them can be victims of burglars and can lost equally their wealth. So don't discuss about this my friends. If one of you will be unfortunate will be victim of a malefactor. You must pray to not be any of you.

If you encrypt your wallet with a strong enough password, you can be pretty damn sure your money won't be stolen. This is obviously not the case with the gold that you have buried in the backyard of your home...

n2004al

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Activity: 1134

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Quote from: markj113 on September 26, 2015, 09:50:23 AM

Quote from: lorylore on September 26, 2015, 09:45:53 AM

Most people that have invested and are investing in gold are people that always should be afraid from thieves.
Because gold is something physical thing and i saw in TV that people that hold golds are allowed to have gun for self protection.
Investing in bitcoin is something digital (virtual) and it can be hidden and other people can not know what how much is your budget..

Checked the scam accusation thread here lately?

People are loosing bitcoin through scams, hacked wallets, dodgy exchanges, fraud, key loggers etc.

I dont worry about my gold stash but I always wonder if my bitcoin is still in my wallet.

Anything is not immune from fraud and from thieves. So nor them who have gold and nor those who have bitcoin can have the final security. Both of them can be victims of burglars and can lost equally their wealth. So don't discuss about this my friends. If one of you will be unfortunate will be victim of a malefactor. You must pray to not be any of you.

marketingcoin

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both of which are important for me

SerenaL

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Gold makes me feel secure in case of a SHTF situation. I rather prefer bitcoin due to the ease of transportation. Try smuggling $100,000 of gold through an airport and see the harassment you get.

markj113

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Quote from: lorylore on September 26, 2015, 09:45:53 AM

Most people that have invested and are investing in gold are people that always should be afraid from thieves.
Because gold is something physical thing and i saw in TV that people that hold golds are allowed to have gun for self protection.
Investing in bitcoin is something digital (virtual) and it can be hidden and other people can not know what how much is your budget..

Checked the scam accusation thread here lately?

People are loosing bitcoin through scams, hacked wallets, dodgy exchanges, fraud, key loggers etc.

I dont worry about my gold stash but I always wonder if my bitcoin is still in my wallet.

lorylore

legendary

Activity: 1470

Merit: 1002

Most people that have invested and are investing in gold are people that always should be afraid from thieves.
Because gold is something physical thing and i saw in TV that people that hold golds are allowed to have gun for self protection.
Investing in bitcoin is something digital (virtual) and it can be hidden and other people can not know what how much is your budget..

markj113

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Kind of a contradiction, if the price sky rockets as you suggest then a small block reward from mining should still be profitable.

bryant.coleman

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Quote from: markj113 on September 26, 2015, 09:14:11 AM

Well you are looking to hold for long, long time. The expected end date for mining the last block is 2140! Grin

No one will be mining bitcoins in the 22nd century, as the block reward will be minuscule. Even in 2016, we will be having a block reward halving. The bitcoin supply will decrease by 50%, and the price will increase even if the demand remains stable. Another block reward halving will occur by 2020, and the price will skyrocket by that time.

markj113

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Quote from: Scream on September 26, 2015, 08:16:01 AM

For long time i choose Gold, The physical gold, we can trade it use it also we can hold it with real hand
for short time i choose bitcoin, because bitcoin price can up after mining end

Well you are looking to hold for long, long time. The expected end date for mining the last block is 2140! Grin

bryant.coleman

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Quote from: Febo on September 26, 2015, 08:21:06 AM

But what is economic crisis start tomorrow. Then price of Gold will go up til the end of it. So you never know what is better.

Even without an economic crisis, the gold price will increase. Central banks are purchasing gold like never before, and only 20-years worth of extractable gold remains to be mined out. The Russian Central Bank alone has increased its gold reserves by around 32 tonnes last month. That is more than one tonne per day!!!!

Topic: Bitcoin or gold? - page 517. (Read 984460 times)