Topic: Gold collapsing. Bitcoin UP. - page 1018. (Read 2032266 times)

Quoted for the coming squeeze

step on it.

dollar cost average if you're worried.  now is as good a time as any to start.

Yes you are correct I skimmed it. Sorry with as many posts I read every day I am bound to misread a part of one at some point. Forgive me.  

You obviously did not address the word "fight" and how Bitcoin did that.

Nothing new? LOL yes please ignore the fact that you obviously said that Bitcoin fought a battle.

As if it has a conscience.

I would say that is pretty new information in our little debate about comparing Bitcoin and Litecoin and useful metric of comparing them on how "successful" they are. Hence why I said your argument was broken given using that statement.

Full Disclosure: I was one of the few who bought LTC when they were ~$0.005 each. So yes I would know how to call things pretty well (i.e. that it was a bargain back then) even when there was the same type of statements about LTC that are being spouted today (i.e. "Litecoin is dying" blah blah).

The obvious bias to Litecoin that some here have is fine as they are entitled to their opinion but it is somewhat funny when the same things happen to Bitcoin in terms of price suppression those same things are ignored.

Just so everyone is aware...

When bitcoin was 2.75 years old it was ~$4-$6.

and

When Litecoin was 2.75 years old it too was ~$4-$6...

So when I say that comparing them using a time metric of life span is less skewed than comparing them in today's terms (as if Litecoin is even competing against Bitcoin ...which it is not in my view)....I actually do have a point...

Given I asked the original question:


Did you even look up your facts before trying to debunk my thought process and argument with your "Bitcoin fought that battle" statement?

Buying now hopefully it keeps going up.

keep buying.

shorts getting overstretched:

well now, that is Bitcoin's Tension isn' it?  we don't know for sure.  but all indications are it is, 5.5 yrs in.  sure the tx fees need to increase as block rewards go down to compensate miners.  i think they will.  personally, i don't care which way Bitcoin goes as either a reserve currency (huge fees tacked onto few tx's) or mainly as a transactional currency (small fees tacked onto a boatload of tx's).  it may not matter in the end.  what may only matter is that it's open source, transparent, and idealistically all inclusive for ppl worldwide.  as long as the average person feels they aren't getting screwed by The Man, that may be all that is necessary for success.

The transaction fee revenue needs to go up. Are you sure that increasing transaction fees is the only way to accomplish this?

Does McDonalds achieve their revenue by selling a small number of expensive items, or do they try to sell a large number of inexpensive items?

PoW may be the right solution way but economically it presents it's own problems.  Currently all the holders are subsidizing the cheap transaction fees.  Once that goes away either transaction costs have to go way up or the system can be cheaply attacked.  Last block transactions fees were .06 BTC and the holders subsidized those low fees with 25 BTC inflationary block reward.  No matter which way you slice it no one can honestly know that PoW is working.  Currently it's block reward speculation that's keeping people mining not anything to do with transaction fee income or security of block chain.  Looking at PoW separately from bitcoin.  Either it has to be expensive and secure but for that fees have to be high or it is cheap but then it can't be secure.  It can't be both cheap and secure.  That's the downside of "tethering" to the real world of using resources on PoW.  Perhaps as you stated cypher bitcoin will evolve to be the reserve currency of the world but then it will likely look very different then what it it today.

i think that solving the BGP was a huge deal.  for the first time in history data can be secured on the internet and consensus achieved despite the presence of malicious attackers.  and yet the POS ppl come in here and diss the very essence of that POW accomplishment by Satoshi.

they have a helluva lot more to prove going forward than any of us who acknowledge said accomplishment.

It's natural for people to want to get the properties Bitcoin provides without needing to expend the energy to produce proof of work, insofar as the desire to get something for nothing is completely natural and common to living things.

Consider that the degree to which people are so desperately trying to avoid PoW is the exactly why we know PoW is a good solution to the problem.

i don't really think so.

if you go back thru the last 2d of postings btwn mrE, kodtycoon, and the rest of us POS naysayers, you'll see all the arguments as well as the paper posted by JR explaining why POS won't work.

No clue.  But do you disagree that if working correctly PoS would be better then PoW or no?  This is OT to this thread anyways.  Maybe a different thread is better.  Your opinion on the subject is valuable.

haha, gold bug troll.  look further up in the thread for record of over 10000% swing trade of gold for BTC! 

Boy!

true, but who has a better chance at being right, mrE or me?

I used "scratch" as a noun, not a verb. I think you skimmed my post. I stand by argument, finding nothing new in yours.

ROFL
Who would I be shilling for? 
Mr scientist please tell us how we can digitize gold.  Perhaps a Star Trek transporter is in order. 

As if commodities cant be digitized ? Nice try, Shill.

I now understand your negative attitude. You're still waiting for $35.

yep. The internet is a fad too.  Maybe we should just use pigeons to send each other fractions of gold dust.  That's much better then bitcoin.