Okay... paper gold is a form of credit. So, by selling a claim I own on gold, somehow I'm expressing that I want to hold onto my physical? How does that work? Aren't the lenders having their locked up assets returned to a liquid position, thus raising physical supply?
is a future contract for 100 OZ of gold 
Topic: Gold collapsing. Bitcoin UP. - page 1289. (Read 2032274 times)
For the record, if I held DZZ or other good short positions, I would liquidate all of them tomorrow.
can you be more specific about your time frame here? sure it could have a reaction back up, but how many have money to spare to support higher gold prices?
Mañana? Before June 28th.
If you think of paper gold as a form of credit, the collapse in prices means that credit is drying up. Nobody wants to lend their asset out anymore.
Okay... paper gold is a form of credit. So, by selling a claim I own on gold, somehow I'm expressing that I want to hold onto my physical? How does that work? Aren't the lenders having their locked up assets returned to a liquid position, thus raising physical supply?
For the record, if I held DZZ or other good short positions, I would liquidate all of them tomorrow.
can you be more specific about your time frame here? sure it could have a reaction back up, but how many have money to spare to support higher gold prices?
Mañana? Before June 28th.
If you think of paper gold as a form of credit, the collapse in prices means that credit is drying up. Nobody wants to lend their asset out anymore.
Apparently gold price at below recovery costs.
http://www.zerohedge.com/news/2013-06-26/gold-drops-below-its-average-cash-cost
http://www.zerohedge.com/news/2013-06-26/gold-drops-below-its-average-cash-cost
people must really want fiat
For the record, if I held DZZ or other good short positions, I would liquidate all of them tomorrow.
can you be more specific about your time frame here? sure it could have a reaction back up, but how many have money to spare to support higher gold prices?
For the record, if I held DZZ or other good short positions, I would liquidate all of them tomorrow.
Apparently gold price at below recovery costs.
http://www.zerohedge.com/news/2013-06-26/gold-drops-below-its-average-cash-cost
http://www.zerohedge.com/news/2013-06-26/gold-drops-below-its-average-cash-cost
The only way to build crypto-currentcy is to build STRONG ONE ...
( 1. no one can afford to control 50%+ of mining power, 2. expensive coins(hard to manipulate price), nobody can buy them all (10%) )
in that case the cap valuation of bitcoin is the total cost to perform a 51% attack-1USD( 1. no one can afford to control 50%+ of mining power, 2. expensive coins(hard to manipulate price), nobody can buy them all (10%) )
edit: you dont care about point 2 if you can perform point 1 a currency that cant be used lose its value
The only way to build crypto-currentcy is to build STRONG ONE ...
( 1. no one can afford to control 50%+ of mining power, 2. expensive coins(hard to manipulate price), nobody can buy them all (10%) )
in that case the cap valuation of bitcoin is the total cost to perform a 51% attack-1USD( 1. no one can afford to control 50%+ of mining power, 2. expensive coins(hard to manipulate price), nobody can buy them all (10%) )
+ time
The only way to build crypto-currentcy is to build STRONG ONE ...
( 1. no one can afford to control 50%+ of mining power, 2. expensive coins(hard to manipulate price), nobody can buy them all (10%) )
in that case the cap valuation of bitcoin is the total cost to perform a 51% attack-1USD( 1. no one can afford to control 50%+ of mining power, 2. expensive coins(hard to manipulate price), nobody can buy them all (10%) )
edit: you dont care about point 2 if you can perform point 1 a currency that cant be used lose its value
unless you already have BTC. what's the difference with USD?
the case of BTC vs red cross coins can be simple, if red cross coins are premined by red cross when you buy the red cross you increase the demand => increase the value so you help red cross by purchasing the coins and them from donating them, if the red cross coins are not premined can be set by only by exchange rules and so on USD transactions are more expensive that p2p crypto transactions so your donation will generate more revenue for banks
It is not so easy to run thousands of chains (it costs a lot of resources) ... weak chains are easy to manipulate (with money or with +51% attack)
The only way to build crypto-currentcy is to build STRONG ONE ...
( 1. no one can afford to control 50%+ of mining power, 2. expensive coins(hard to manipulate price), nobody can buy them all (10%) )
qft
Bitcoin is enough. :-) (we do not more coins, just setup Barcelona(hiv, paris, help ...) addresses and you can vote with Bitcoin)
no sir, for example if I want to donate to red cross bitcoins I need to buy that bitcoin so I increase the demand of something I dont want, in the other hand if I have red cross coins and I buy that and then donate to red cross I increase the demand of a alt_coin_brand that I am willing to support, the red cross coins wont affect bitcoin on any way so bitcoin opportunist have nothing to gain from my donation to red cross
It is not so easy to run thousands of chains (it costs a lot of resources) ... weak chains are easy to manipulate (with money or with +51% attack)
The only way to build crypto-currentcy is to build STRONG ONE ...
( 1. no one can afford to control 50%+ of mining power, 2. expensive coins(hard to manipulate price), nobody can buy them all (10%) )
I still find it funny that people call LTC a scamcoin. What exactly is the "scam"?
...
...
Of course it's not a "scam", but its benefits are often overstated. I'm all for alt-coin experimentation; just wish there were actually more real experimentation (NMC and maybe PPC are the only ones with real differences). Litecoin's quicker confirms are a moot point, for one thing...there are almost zero applications where an avg confirm of 2.5mins is acceptable where 10mins is not. I still can't buy a cup a coffee. And it doesn't matter that scrypt is asic-resistant. That's not synonymous with "asic-proof"; if ltc ever got valuable enough, asics for it would arise. It's not going to achieve better decentralization because of scrypt.
To me, litecoin is not innovative, and I therefore find it annoying that it's achieved the success it has. I do see some value in that it's a "backup" network to an extent (but, if bitcoin were successfully attacked, most likely the same attackers could hit litecoin too), and there's value in being able to move coins in and out of both chains with some liquidity. But those are 2nd order concerns. Again, I'd like to see more real alt experimentation.
tl;dr - it's not a scam, but it's also not innovative and doesn't offer anything that bitcoin doesn't.
No, that's an improper analogy. Comparing round gold coins to square gold coins would be like comparing a bitcoin wallet file on my computer with a bitcoin wallet file on a usb drive.
Bitcoin is enough. :-) (we do not more coins, just setup Barcelona(hiv, paris, help ...) addresses and you can vote with Bitcoin)
no sir, for example if I want to donate to red cross bitcoins I need to buy that bitcoin so I increase the demand of something I dont want, in the other hand if I have red cross coins and I buy that and then donate to red cross I increase the demand of a alt_coin_brand that I am willing to support, the red cross coins wont affect bitcoin on any way so bitcoin opportunist have nothing to gain from my donation to red cross
unless you already have BTC. what's the difference with USD?
but i'm on the same side with you, I'm all about choices
Bitcoin is enough. :-) (we do not more coins, just setup Barcelona(hiv, paris, help ...) addresses and you can vote with Bitcoin)
no sir, for example if I have to donate to red cross bitcoins, I need to buy that bitcoin, so I increase the demand of something I dont want, in the other hand if I have red cross coins and I buy that and then donate to red cross I increase the demand of a alt_coin_brand that I am willing to support, the red cross coins wont affect bitcoin on any way so bitcoin opportunist have nothing to gain from my donation to red cross
You can melt down all (legitimate) gold coins and put them in whatever form you want. You can not transform one cryptocurrency to another without finding a trading partner and agreeing on a conversion rate.
Securitization.
Not quite the same, more like an alloy, but still a transformative effect.
Still, even more so than my trade example, it relies on a trustworthy counterparty.
and crypto doesn't
just relies on net consensus You can melt down all (legitimate) gold coins and put them in whatever form you want. You can not transform one cryptocurrency to another without finding a trading partner and agreeing on a conversion rate.
Securitization.
Not quite the same, more like an alloy, but still a transformative effect.
Still, even more so than my trade example, it relies on a trustworthy counterparty.
You can melt down all (legitimate) gold coins and put them in whatever form you want. You can not transform one cryptocurrency to another without finding a trading partner and agreeing on a conversion rate.
thats one of many reasons why gold/silver > BTCMaybe everyone can start mining his own coins ... Tomorrow I can sell you odalvcoin (same as bitcoin -> same utility, only will not start with genesis block) and next week odalvsilvercoin (same as LTC only 4x more coins)
I hope we will have red cross coins, footbol club Barcelona coins, paris coins, help the children coins, cure hiv coins and everyone can vote with their wallet and get behind any of the chain Bitcoin is enough. :-) (we do not more coins, just setup Barcelona(hiv, paris, help ...) addresses and you can vote with Bitcoin)
You can melt down all (legitimate) gold coins and put them in whatever form you want. You can not transform one cryptocurrency to another without finding a trading partner and agreeing on a conversion rate.
thats one of many reasons why gold/silver > BTCOn the other hand, you can transform an existing cryptocurrency.
For example, the proof-of-work could be changed for something else. The time between blocks could also be changed.
It's as if you could transform your gold into silver or platinum, if for any reason those were to become more interesting.
You can melt down all (legitimate) gold coins and put them in whatever form you want. You can not transform one cryptocurrency to another without finding a trading partner and agreeing on a conversion rate.
thats one of many reasons why gold/silver > BTCMaybe everyone can start mining his own coins ... Tomorrow I can sell you odalvcoin (same as bitcoin -> same utility, only will not start with genesis block) and next week odalvsilvercoin (same as LTC only 4x more coins)
I hope we will have red cross coins, footbol club Barcelona coins, paris coins, help the children coins, cure hiv coins and everyone can vote with their wallet and get behind any of the chain Jump to: