Topic: Compared to Bitcoin, gold doesn't seem real... (Read 7506 times)
You'd think. Something smells bad in the non-physical gold market. The Fed telling Germans and others whose gold they hold they can't have it back for years has a mighty reek also.
IMO, I think that was largely due to speculation in "paper gold" and electronic gold instruments, that it became apparent may not have been 100% backed, thus fractional reserve.
How do they not back them 100%? Don't they have a 100% foolproof process that is impossible to counterfeit but fast and easy to verify?
IMO, I think that was largely due to speculation in "paper gold" and electronic gold instruments, that it became apparent may not have been 100% backed, thus fractional reserve.
The gold price has dropped by 39% since reaching an all-time high of $1 917.90 per ounce in August 2011. I guess it can't drop much more in a regulated market.
Now I will ignore you.
Meh, suit yourself.I always personally believes that the ignore button is the ultimate coward's way out
.As for me ,I'll continue to response to to any post that I consider worth/warrant replying regardless who that person is (or the level of insane troll logic s/he employs)
. ...
You win. Now I will ignore you. Again you are ignoring my arguments.
Yes, and I' will continue to ignore points that are wildly irrelevant to the issues that were originally raised(by yourself even).I'm trying to avoid further veering off course(hence why , I ignored the whole drug lord line). It's about time you try to do the same.
I've perused your post history and find nothing worthwhile in contributions.
Likewise.It's nice to know that our impression of each other is quite alike.
I don't consider you a troll but your changing goalposts are annoying.
Considering you're the one who keeps posting off tangent response (do I need to quote yours in this thread alone?) and derailing the arguments,I find that quite amusing. Dump your aqua regarding into the Mariannes Trench. Gone.
Nope .Still retrievable, expensive but still.
I have a thousand backups. Not gone.
Destroy your private key(or simply deny your access to it) , your bitcoin is gone .Completely,irrevocably ,forever, gone
I don't have nor control my bitcoins and nobody else knowingly does either because encryption and SSS. Banks can't do that because it's not legal for banks to do with other people's money. If you torture me I will give you a decoy or two but know that you will kill me anyway so you can just suck it.
Good to know .I doubt that most bitcoin user is as prepared as you.If you claim mind reading powers then I won't believe you.
Going off tangent again are we.Sorry,never was a chump who was interested in conspiracy theories.Won't discuss them.
Yeah that's a big one. I am too smart to be scammed by you (hypothetically ). If you want my money you need to kiss my ass and tell me I look fit. If you are a scumbag then you will deal with my scumbag associates.
Wow! Now you're really off the rockers.That response have absolutely nothing to do with the point you've quoted.Try again.
The rich and powerful usually resort to violence to achieve their ends.
Bill Gates and Warren Buffet were the two richest men in America last time I looked, and they're not street-fighters.
Both were considered quite "powerful " in the respective field( in terms of influence and reach) so yeah.Those two do fit the rich and powerful archetype.
However, will they be looking for another vehicle to throw around 100 Trillion a year? Since regulation is looming, and Carney is on their arse, and he's a fucking honey-badger.
The first debate about money is starting today in the British Parliament, first time in 170+ years. It looks like the game could be up. I have a feeling they're going to mention digital currencies sometime within the debates.
http://rt.com/uk/202923-uk-parliament-future-money/
However, will they be looking for another vehicle to throw around 100 Trillion a year? Since regulation is looming, and Carney is on their arse, and he's a fucking honey-badger.
The rich and powerful usually resort to violence to achieve their ends.
Bill Gates and Warren Buffet were the two richest men in America last time I looked, and they're not street-fighters.
The true wealthy isn't those with a publicly large net worth.
http://en.wikipedia.org/wiki/Shadow_banking_system
The shadow banking empires have more wealth than all the physical assets on this planet. This is possible when money has become digitized IOUs and banks have free reign in engaging in fractional reserve lending.
Sure you can keep it in a vault, but then you can't spend it.
That why, in december 2013, i have choice bitcoin.
mother fucker tax on gold reseller ... too.
It would be nice to have a crypto tied to a set amount of a commodity. But how is it regulated? Who is the holder of the resources? What is the starting set value? There's too many questions. On top of that let's say you chose gold and started at 100 tons of gold. You still have people mining gold and you still have other holders of gold. What then sets the value of the currency. There's too many questions to a commodity backed cryptocurrency yet I've seen those ideas tossed around.
The only thing I think that could work is if all coins were already mined and you essentially used the blockchain technology to provide for the currency exchange aspect of the commodity currency. But then what is the incentive for mining hardware and what's securing the currency if there is not plenty of mining or hashing power?
The only thing I think that could work is if all coins were already mined and you essentially used the blockchain technology to provide for the currency exchange aspect of the commodity currency. But then what is the incentive for mining hardware and what's securing the currency if there is not plenty of mining or hashing power?
whatever, you can't eat bitcoins!
IMO, Bill was outside the club and refused to play. Ergo, why he's doing all his own initiatives in Africa etc, rather than anything else.
The rich and powerful usually resort to violence to achieve their ends.
Bill Gates and Warren Buffet were the two richest men in America last time I looked, and they're not street-fighters.
The rich and powerful usually resort to violence to achieve their ends.
Bill Gates and Warren Buffet were the two richest men in America last time I looked, and they're not street-fighters.
I disagree on both points for the same reason. Bitcoin doesn't rely on only simple keys. I'm sorry you don't understand. Try reading up on Bitcoin's features instead of repeating the same misunderstanding.
What misunderstanding is that?That you can't torture someone to reveal their private key. The're no misunderstanding here.That statement is just not true.What you should have said that there are ways to make it harder(or even impossible) for some one to gain access to your bitcoin through implement of torture and coercion( which existed for other assets such as cash or gold long before bitcoin's existence).
FYI, using quotes means the statement is a quote and probably shouldn't be taken literally.
Perhaps it would be better to construct your statement (or give a thought or two about them ) before typing them.
You keep saying things are not new, but I never claimed they were.
Good .so you accept that those "anti-torture"security feature aren't unique to bitcoin Saying that being a scumbag is a way to earn anything won't help your case with anyone.
What case is that?I believe everyone here agree that people who swindle others for self gain are scumbags.Hell. we'll applaud when these bastards got their just desserts.
Stating the truth doesn't mean I condone their act.Calling them scumbags should tip you of to this .Are you implying that I should mince my words when addressing those dregs?
You fail to make a point.In fact you haven't even made a relevant point let alone refuted mine.
During the course of our interaction I've refuted your half baked ideas that:
1)Gold is easier to destroy than bitcoin
2)bitcoin is immune to torture.
3)You need to be honest/emphatic to earn bitcoin.
You seems to have trouble understanding my arguments.I suggest rereading them before spewing any other poorly structured counterpoint(or inserting derail attempts)and rethink/recheck your statements before posting them, lest you want to spread misinformation(I'm sure you don't meant to) about bitcoin.
1)Gold is easier to destroy than bitcoin
I don't mean destroy in the sense of converting to pure energy. I mean rendered useless. Dump your aqua regarding into the Mariannes Trench. Gone.
Burn my bitcoin paper wallet. I have a thousand backups. Not gone.
2)bitcoin is immune to torture.
I don't have nor control my bitcoins and nobody else knowingly does either because encryption and SSS. Banks can't do that because it's not legal for banks to do with other people's money. If you torture me I will give you a decoy or two but know that you will kill me anyway so you can just suck it. If you claim mind reading powers then I won't believe you.
3)You need to be honest/emphatic to earn bitcoin.
Yeah that's a big one. I am too smart to be scammed by you (hypothetically ). If you want my money you need to kiss my ass and tell me I look fit. If you are a scumbag then you will deal with my scumbag associates.
The power of tradition is such that people will hold on to their gold for long -
no matter how unsafe ir is and how much trouble it is to store and protect.
no matter how unsafe ir is and how much trouble it is to store and protect.
Jump to: