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Topic: Gold collapsing. Bitcoin UP. - page 1116. (Read 2032266 times)

sr. member
Activity: 371
Merit: 250
June 24, 2014, 08:01:27 AM
Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
legendary
Activity: 1135
Merit: 1166
June 24, 2014, 07:06:53 AM
not sure how they calculated this but here's your new talking point:

That is 5,000 times greater than the power of all of the world’s fastest 500 supercomputers combined.

http://www.economist.com/blogs/schumpeter/2014/06/bitcoin

Since they mention FLOPS, they presumably compared the mining power to the power if the supercomputers were used directly.  This isn't really a meaningful comparison anymore since we have ASICs, but the amount of hashing power present is still very astonishing in recent times.
legendary
Activity: 1764
Merit: 1002
June 24, 2014, 05:12:57 AM
not sure how they calculated this but here's your new talking point:

That is 5,000 times greater than the power of all of the world’s fastest 500 supercomputers combined.

http://www.economist.com/blogs/schumpeter/2014/06/bitcoin
FNG
hero member
Activity: 588
Merit: 500
June 24, 2014, 03:52:48 AM
Gold spiking higher
legendary
Activity: 1036
Merit: 1000
June 23, 2014, 11:20:59 AM
It's rare for people to go through a dozen years of public indoctrination camps and not end up with broken ideas regarding economics.

The principle is certainly not limited to economics of course.

It's true. Economics is among the worst, simply because it directly affects politics so all the incentives are aligned toward pro-state economics. However, I've recently come to the conclusion that there is no field that escapes distortion under the public education model. It shouldn't really be a surprise that education, like everything else government does, is corrupted by money and status games.

Even though Kuhn wrote his book in 1962 about how it takes the old eminent scholars dying to move science forward, the overall lesson - that authority and consensus are worthless concepts in science - still hasn't been assimilated into modern thinking. The average person still parrots everything their textbook/professor says without questioning it. Or even if they question the facts, they never question the underlying frameworks... I'll let this quote from a facebook forum by "modern fyziks" explain it better:

Quote
Authority is so deeply ingrained in our psyches that its effects are extremely subtle. People think they are not submitting to authority if they question what the teacher tells them, but the real trick is far more insidious: there's an intellectual attitude the teacher has that the students fails to question, or even notice.

It's not so much only that you believe in black holes, but that you view them as something to believe or disbelieve in the first place. Not so much that you believe a geometric line is made of points, but that you let the constant equivocation among different definitions of "point" slide. It's not so much that you accept E=mc^2, but that you go along with the reification of the word "energy" in the theory without batting an eye.

Even the rebel cannot escape. They rebel against the church, but they never lose the religious thinking habits.

To escape authority-mired thinking is like peeling away the layers of an onion. First you stop believing in the facts the authority figure is claiming, and you fancy yourself a rebel. Next you reject their theories or school of thought, believing yourself now truly independent. Then you reject their entire endeavor as fundamentally broken and set out on your own, thinking yourself fully free from authority.

Eventually, if you're lucky, you shake that lingering habit that you learned from the top intellectual charlatans: that of being loose with definitions. Finally you see the authority bound up in how society treats words themselves, realize not to ask what a word means but instead how it could be usefully defined, stop trying to prove definitions, and maybe even embrace visual explanations when possible.

hero member
Activity: 743
Merit: 500
June 22, 2014, 07:27:08 PM
"I've been tracking Bitcoin since its inception, and my confidence has grown to the point where I'm now trading in a portion of my gold holdings for bitcoin, buying it and accepting bitcoin for the Abundance 360 CEO Summit."
- Peter H. Diamandis, https://plus.google.com/+PeterHDiamandis/posts/dWQFcpcws8V


(edit) Background:

https://twitter.com/PeterDiamandis/status/480839678237487104

http://en.wikipedia.org/wiki/Peter_Diamandis
Big WOW what kind of people are interested on BTC

btw:
Peter,can you help out to Jeff with BitSat project?
http://www.bitcoinx.com/bitcoin-developer-jeff-garzik-talk-about-the-bitsat-orbiting-bitcoin-node/
legendary
Activity: 1722
Merit: 1004
June 22, 2014, 05:33:32 PM
"I've been tracking Bitcoin since its inception, and my confidence has grown to the point where I'm now trading in a portion of my gold holdings for bitcoin, buying it and accepting bitcoin for the Abundance 360 CEO Summit."
- Peter H. Diamandis, https://plus.google.com/+PeterHDiamandis/posts/dWQFcpcws8V


(edit) Background:

https://twitter.com/PeterDiamandis/status/480839678237487104

http://en.wikipedia.org/wiki/Peter_Diamandis
legendary
Activity: 1764
Merit: 1002
June 22, 2014, 03:29:25 PM
Hey tvbcoc,

General Cypherdoc says:

Bitcoin UP.

Ya, I hope it will happen in 2014 and I think that there is still some chance.  Already half way through the year and Bitcoin is still only at $600-ish.  Half a year is nothing for most investments, but crypto-currencies are so active that if we have to wait another few years for Bitcoin to recover a lot of other things could happen over that time period.


tvbcoc dragged along kicking and screaming.

Pleeeeease don't thrown my in dat der brier patch breh'r cyphercoc.



 Smiley
legendary
Activity: 4760
Merit: 1283
June 22, 2014, 03:27:02 PM
Hey tvbcoc,

General Cypherdoc says:

Bitcoin UP.

Ya, I hope it will happen in 2014 and I think that there is still some chance.  Already half way through the year and Bitcoin is still only at $600-ish.  Half a year is nothing for most investments, but crypto-currencies are so active that if we have to wait another few years for Bitcoin to recover a lot of other things could happen over that time period.


tvbcoc dragged along kicking and screaming.

Pleeeeease don't thrown my in dat der brier patch breh'r cyphercoc.

legendary
Activity: 1764
Merit: 1002
June 22, 2014, 03:23:21 PM
Hey tvbcoc,

General Cypherdoc says:

Bitcoin UP.

Ya, I hope it will happen in 2014 and I think that there is still some chance.  Already half way through the year and Bitcoin is still only at $600-ish.  Half a year is nothing for most investments, but crypto-currencies are so active that if we have to wait another few years for Bitcoin to recover a lot of other things could happen over that time period.



tvbcoc dragged along kicking and screaming.
legendary
Activity: 1722
Merit: 1004
June 22, 2014, 03:08:19 PM
It's rare for people to go through a dozen years of public indoctrination camps and not end up with broken ideas regarding economics.


Well... Janet Yellen and I had the same macro-economics professor in college, and look how we both came out. Smiley
legendary
Activity: 4760
Merit: 1283
June 22, 2014, 02:16:47 PM
It's rare for people to go through a dozen years of public indoctrination camps and not end up with broken ideas regarding economics.

The principle is certainly not limited to economics of course.  A surprising number of those who've caused earthquakes in other areas have bypassed the formal and prescribed indoctrination segment of the step-ladder.  Snowden, Assange, and the OpenBSD guy come to mind.

Of course there is significant room for debate about whether bowing out of formal education and engaging later in unorthodox exploits have a cause/effect relationship or are more both expressions of a deeper mindset.  One way or another, it is almost certainly more safe to avoid these types of people for certain kinds of sensitive work.  They should be targeted for enhanced surveillance and I'm guessing that at this point they tend to be.  Perhaps later they'll hunted down and prophylactically neutralized by specially trained personnel in much the way that Orwell predicted.

legendary
Activity: 1400
Merit: 1013
June 22, 2014, 01:54:27 PM
It's rare for people to go through a dozen years of public indoctrination camps and not end up with broken ideas regarding economics.
legendary
Activity: 1764
Merit: 1002
June 22, 2014, 01:33:43 PM

Yeesh. He's really taking advantage of the fear of GHash.io and the Bitcoin Foundation. Anything to preserve the precious premine.

To be fair, it's extremely rare for a person of his age to understand economics, even if they are geniuses in other areas. Not saying it can't be done, but it's rare. It's hard to see past the premine logic without some actual understanding of economics (I say "actual" because he seems to have studied economics, but economic thinking doesn't seem to come naturally to him).

As Melbustus has said,  it's really a lack of experience
legendary
Activity: 1036
Merit: 1000
June 22, 2014, 01:17:46 PM

Yeesh. He's really taking advantage of the fear of GHash.io and the Bitcoin Foundation. Anything to preserve the precious premine.

To be fair, it's extremely rare for a person of his age to understand economics, even if they are geniuses in other areas. Not saying it can't be done, but it's rare. It's hard to see past the premine logic without some actual understanding of economics (I say "actual" because he seems to have studied economics, but economic thinking doesn't seem to come naturally to him).
legendary
Activity: 4760
Merit: 1283
June 22, 2014, 02:11:18 AM
Hey tvbcoc,

General Cypherdoc says:

Bitcoin UP.

Ya, I hope it will happen in 2014 and I think that there is still some chance.  Already half way through the year and Bitcoin is still only at $600-ish.  Half a year is nothing for most investments, but crypto-currencies are so active that if we have to wait another few years for Bitcoin to recover a lot of other things could happen over that time period.

legendary
Activity: 1764
Merit: 1002
legendary
Activity: 1764
Merit: 1002
June 21, 2014, 10:31:40 PM
Hey tvbcoc,

General Cypherdoc says:

Bitcoin UP.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
June 21, 2014, 06:35:52 PM

To be perfectly honest from an outside perspective looking in, you appear butthurt. Why is that?  Tongue

I don't detect any butthurt about anything personally.  Maybe there is, but I don't detect it.  But as the question is phrased, it's a personal thing which you'll have to look within yourself to answer.

To double-up on this post, I would say that Cypherdoc could deserve a fairly high rank.  Indeed, he's kind of the General Boykin of Bitcoin in a lot of ways.



 Roll Eyes My view still remains the same even after this ^ post.
legendary
Activity: 4760
Merit: 1283
June 21, 2014, 05:15:37 PM

To be perfectly honest from an outside perspective looking in, you appear butthurt. Why is that?  Tongue

I don't detect any butthurt about anything personally.  Maybe there is, but I don't detect it.  But as the question is phrased, it's a personal thing which you'll have to look within yourself to answer.

To double-up on this post, I would say that Cypherdoc could deserve a fairly high rank.  Indeed, he's kind of the General Boykin of Bitcoin in a lot of ways.

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