Topic: Gold collapsing. Bitcoin UP. - page 1235. (Read 2032266 times)
So that guy, revans, who says in this board that slicing a pie debases its value... it's Schiff!
I'm afraid his personality will make it take quite a while before he gets around to it, though.
his loss
he is certainly on the right track in many respects, but I used to tune in his show on the shortwave and have heard some straight up ignorant shit from him also
Schiff says things like:
Bit coins have no intrinsic value. Since you can divide each "coin" into 10 million smaller units, the total supply is zillions. They are not scare. Dividing bit coins is not like dividing gold coins. Two half-ounce gold coins have half the gold as a one-ounce coin. That is because each half ounce coin contains half the intrinsic value of a full ounce coin. Break a bit coin in half, and each half is basically identical to the whole. Since a bit coin has an intrinsic value of zero, half of zero is still zero. Put it this way, if they sold bit coins in bundles of 10 million, where the individual coins could not be subdivided, and the maximum quantity of those 10 million dollar bundles was 21 million, would anyone claim that bit coins were scarce? This is a ponzi scheme pure and simply and the reaction on this board from those participating in it merely provides more evidence to prove my point.
It hurts! I think he's just sour because he thinks he's missed the train.
EDIT: I think he also made a freudian typo: "They are not scare". Haha, Peter, Bit coins are really really scare!
Schiff wants to talk bitcoin with a bitcoiner. reddit: http://www.reddit.com/r/Bitcoin/comments/1qkqjr/peter_schiff_has_requested_a_bitcoiner_to_debate/
Gold looks foreboding. Bitcoin EXPLODING.
Well you know, we gotta get going.
To get to the parity party.
Edit : and beyond
I remember when people were talking about silver parity like it was this big thing that might never happen. "But if only it did reach silver parity, maybe then the PM bugs will take Bitcoin seriously." The good old days, nine months ago.
that was a much more significant event than people give it credit for.
gold and silver are linked at the hips more than ppl realize. silver was supposed to be the metal that REALLY made goldbugs rich in the end as its price projections based on the gold:silver ratio were supposed to head to all time highs with the ratio to all time lows.
as bullish as i was before, i became 4x more bullish once we passed parity @ around 20. in order to really understand what is happening, you have to have been a big gold and silver holder.
I see you point and I agree with it. I think it was very noticable in the reception of Bitcoin within the metal-head community, too.
this is OT, but this vid was mentioned here some time ago,
i put it on documentary thread (https://bitcointalksearch.org/topic/m.3569469),
and a user asked for background info on James D'Angelo who's doing the 101 Blackboard series on world bitcoin network channel (http://www.youtube.com/channel/UCgo7FCCPuylVk4luP3JAgVw/videos).
just doing some research here...
Has somebody any info on this guy's educational background?
i put it on documentary thread (https://bitcointalksearch.org/topic/m.3569469),
and a user asked for background info on James D'Angelo who's doing the 101 Blackboard series on world bitcoin network channel (http://www.youtube.com/channel/UCgo7FCCPuylVk4luP3JAgVw/videos).
just doing some research here...
Has somebody any info on this guy's educational background?
James has found his groove. he's clearly a smart guy. he's doing a great job with the new blackboard format.
i'd bet he visits this thread regularly given the last gold comparison video he did. he cited many of the principles i've expounded upon for years now in much the same way.
he's doing an excellent job. anyone know his handle around here?
Did you notice that your thread happens to be the only one on the forum tracking the entire Bitcoin price history and people's reactions from 2012 until now?
Even Adam's wall observer thread was rebooted once.Wonder if the historians of future will scroll through pages to read our replies...
I'd rather guess it will be analytical algorithms scrolling through not only this forum but all available information. Historians can then just ask the bots.
I used to watch the PM prices all day, but I haven't for a while. I have a meager stack of silver and a couple slivers of gold. I'd feel bad about the drop in value, if I weren't so happy about the rise in value of my meager stack of bitcoins.
P.S. Anyone know a site with persistent image URLs for gold and silver spot charts?
P.S. Anyone know a site with persistent image URLs for gold and silver spot charts?
Peter Schiff is a good example of someone who understands the economics but not the cryptography. He also isn't afraid to think independently but he has a weakness in that he is dismissive of that which he doesn't understand. At this point he should just say, "I can't see how it can work," and get to doing his research on it. I'm afraid his personality will make it take quite a while before he gets around to it, though.
He sells silver for a living.
Ironically, I never thought I'd buy another ounce of silver but wishing to re-balance a bit due to increased BTC valuations, I may in fact do just that. Looks like a screaming deal these days to me (though I liked $4.50 better...)
Peter Schiff is a good example of someone who understands the economics but not the cryptography. He also isn't afraid to think independently but he has a weakness in that he is dismissive of that which he doesn't understand. At this point he should just say, "I can't see how it can work," and get to doing his research on it. I'm afraid his personality will make it take quite a while before he gets around to it, though.
He sells silver for a living.
I'm afraid his personality will make it take quite a while before he gets around to it, though.
his loss
he is certainly on the right track in many respects, but I used to tune in his show on the shortwave and have heard some straight up ignorant shit from him also
I think the sheer number of fields one has to have mastered to really understand Bitcoin and its significance, not just on a gut level but enough to have the iron-clad confidence to make a serious investment and weather the storms along the way, is immense and diverse. Economics (markets, money, incentives, emergent order, entrepreneurship), computer science including recent developments, investing, mathematics (cryptography, the exponential function). Note that very few of these topics are well-covered in school, even at the university level (economics is covered if you major in it, but in a bastardized way).
It simply takes a long time to really master these fields. Especially it takes experience to see the forest for the trees and to see what is really important from among myriad details.
It simply takes a long time to really master these fields. Especially it takes experience to see the forest for the trees and to see what is really important from among myriad details.
I concur.
Math, cryptography, programming, investing (did programming for William O'Neill & co), systems, economics, have all been helpful, as have career work in banking, telecom and manufacturing.
Peter Schiff is a good example of someone who understands the economics but not the cryptography. He also isn't afraid to think independently but he has a weakness in that he is dismissive of that which he doesn't understand. At this point he should just say, "I can't see how it can work," and get to doing his research on it. I'm afraid his personality will make it take quite a while before he gets around to it, though.
Or Americans' old tendency to hate the math and avoid it whenever possible.
Peter Schiff is a good example of someone who understands the economics but not the cryptography. He also isn't afraid to think independently but he has a weakness in that he is dismissive of that which he doesn't understand. At this point he should just say, "I can't see how it can work," and get to doing his research on it. I'm afraid his personality will make it take quite a while before he gets around to it, though.
I'm not a master in these fields but add politics/govt to that mix and you have my 4 greatest interests after history.
History is my true love but after than I learn all I can about the other 4.
It is really hard to grasp BTC. Learning about it in 2010 I was like wow, damn cool but it will never take off. Too many stupid people. Mid 2011 tried to explain to normal people, they think I'm nuts. Even now in late 2013 people come to me about BTC but its, how doers it work? And their eyes glaze over before I'm half way done.
We need to make BTC facebook easy before it really takes off. But by then BTC will be worth $10,000 each so I'm sure we could fund it...
History is my true love but after than I learn all I can about the other 4.
It is really hard to grasp BTC. Learning about it in 2010 I was like wow, damn cool but it will never take off. Too many stupid people. Mid 2011 tried to explain to normal people, they think I'm nuts. Even now in late 2013 people come to me about BTC but its, how doers it work? And their eyes glaze over before I'm half way done.
We need to make BTC facebook easy before it really takes off. But by then BTC will be worth $10,000 each so I'm sure we could fund it...
By economics I meant political economy, which includes politics and government. History is also a big help, I think.
One other thing, maybe most important of all, is that it takes life experience to learn how much you can trust your judgment. To learn the difference between confident wishful thinking and confidence with solid backing based on deep understanding, weighing of all factors, not being afraid to think independently, and elimination of blind spots and other weaknesses in your decision-making process - it's extremely difficult, though not impossible, to come by such judgment ability other than by age.
We need to make BTC facebook easy before it really takes off. But by then BTC will be worth $10,000 each so I'm sure we could fund it...
Wait five years and circle.com will to take care of FB and Walmart (my prediction). 
Facebook easy implies trusting 3rd parties to a larger degree but who knows where bitcoin will be when the point comes where it has Facebook name recognition. Even now I've seen young college people from large cities draw a complete blank. Not that they don't know how it works but they haven't even heard of bitcoin but they have Facebook, Twitter, Instagram and every other thing you can think of.
I think the sheer number of fields one has to have mastered to really understand Bitcoin and its significance, not just on a gut level but enough to have the iron-clad confidence to make a serious investment and weather the storms along the way, is immense and diverse. Economics (markets, money, incentives, emergent order, entrepreneurship), computer science including recent developments, investing, mathematics (cryptography, the exponential function). Note that very few of these topics are well-covered in school, even at the university level (economics is covered if you major in it, but in a bastardized way).
It simply takes a long time to really master these fields. Especially it takes experience to see the forest for the trees and to see what is really important from among myriad details.
It simply takes a long time to really master these fields. Especially it takes experience to see the forest for the trees and to see what is really important from among myriad details.
this is the speed of adoption that miscreanity underestimated in our earlier debates in 2011. and he's a young man too.
i'm an old man. what's that say?:
The Geeks Fail to Understand That Which They Hath Created.
There's probably a lot of truth to this. I, for one, a (relatively young) geek by trade, did not think this would happen anywhere near so fast. It started to become clear in late 2012 that it might go quickly (as more investment in infrastructure and bitcoin-related businesses was appearing), but still... It's been only a year since we were all fantasizing about maybe, hopefully, one day, getting a mention on Zerohedge. Now ZH won't shut up about bitcoin, and we get a dozen mainstream-media articles a week, many of which are decently balanced. There's tons of tech-entrepreneur attention, from increasingly well-respected previously successful startup founders and more elite VC firms. Plus the scrutiny from top-tier governmental bodies (ECB, Fed, US Senate)... Back in 2011/2012, I certainly didn't expect to be at this stage in under 2 years. Fascinating.
Perhaps lack of the experience of living through prior booms prevented me from being intuitively aware that things *can* go this fast. Age/experience has many advantages in terms of setting proper expectations for the range of possibilities.
Just crossed 100X purchasing power compared to GOLD! 
the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 424.00 (415.00 btcChina in USD). Gold is 1267.00. Nasdaq is 3947.00
Bitcoin: 7751.85% (7585.19%)
Gold: -25.03%
Nasdaq: 29.20%
Gold Diff: 10373% advantage Bitcoin
Nasdaq Diff: 5977% advantage Bitcoin
the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 424.00 (415.00 btcChina in USD). Gold is 1267.00. Nasdaq is 3947.00
Bitcoin: 7751.85% (7585.19%)
Gold: -25.03%
Nasdaq: 29.20%
Gold Diff: 10373% advantage Bitcoin
Nasdaq Diff: 5977% advantage Bitcoin
wow, I too just passed 10000% increase today from the first price I purchased Bitcoins at during Jan 2012.
At the rates of this maybe I should just hold off on asteroid mining, it'll depreciate too much by the time it ROIs!
Just crossed 100X purchasing power compared to GOLD!
the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 424.00 (415.00 btcChina in USD). Gold is 1267.00. Nasdaq is 3947.00
Bitcoin: 7751.85% (7585.19%)
Gold: -25.03%
Nasdaq: 29.20%
Gold Diff: 10373% advantage Bitcoin
Nasdaq Diff: 5977% advantage Bitcoin
the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 424.00 (415.00 btcChina in USD). Gold is 1267.00. Nasdaq is 3947.00
Bitcoin: 7751.85% (7585.19%)
Gold: -25.03%
Nasdaq: 29.20%
Gold Diff: 10373% advantage Bitcoin
Nasdaq Diff: 5977% advantage Bitcoin
Jump to: