Topic: Gold collapsing. Bitcoin UP. - page 1328. (Read 2032270 times)

Hmmm.....how much bigger is gold's market? Can a part of gold price's erosion be attributed to ...Bitcoin?

You've learned well,  my son 

OMFG. ZERG RUSH!!!!!!

All human inspiration and invention progresses from a clever application of a natural phenomenon to a carefully designed, optimized solution to the problem.  Fire becomes the gas lamp (constrained fire), the incandescent light bulb (heat without burning) which turns into LEDs (pure photon emission).  Stone building blocks become reinforced concrete, and then steel I beams.  Gold becomes bitcoin.


Just because I want to, I'm going to use the high we hit last night. 

And now.....the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, Bitcoin=5.4):
Bitcoin is 147.00.  Gold is 1570.60
Bitcoin: 2622.22%
Gold:    -7.07%
Diff:  2829% advantage Bitcoin and Growing

He needs to automate that script for every 3% rise over the last posted update

Preparing of course...

Where the hell is zerg?

I guess at the end of the day, Bitcoin focuses on solving a narrow range of problems, government currency inflation and money transfer control.  It does not fix issues with large corporations monopolising markets, trademarking and copywriting everything to infinity..

I dont think Bitcoin should take on a Robin Hood style role, I dont think it should be taking the wealth from the rich and distributing it to the poor, it simply levels the playing field and puts everyone on the same rules for building wealth.

Next P2P project.. KarmaCoin.. A system to promote ethical, non greedy corporations and to prevent them from taking over and ascending to monopolistic positions.

Firstly I don't see how Bitcoin is going to be under the operational control of any but those who can afford the outlay for significant compute and network resources.  Individual user's being 'peers' in the system seems hopeless.  I suspect that it will be run by large generalist computer service corporations, and probably subsidized so as to obtain high value business intelligence.  Like most e-mail is today.  At that point I do not believe that it will be difficult for large governments to extract their own intelligence info either and it would not surprise me to see Bitcoin tolerated by TPTB for that reason.

I do believe that the internet is going to be under increasingly tight control, and it will be technically possible to restrict what most users say and do on it.  Not all users, of course, but that is not required to change the flavor and capabilities of the Internet greatly.  I mention this because I believe that it will be possible to manipulate who stays in business as a Bitcoin infrastructure provider and who does not.  Even more than today using exclusively the regulatory authority which governments have.  That again will prove incentive for infrastructure providers to play ball with fascist governments.

Nextly I believe that much of the actual value will be hoovered up by people who are already quite well off.  We see it happening now.  Of course it is pretty much a fact of life that the wealthy tend to end up with even more wealth, but with something 'deflationary' like Bitcoin, the effect will be even more quick.  Here again there will be exceptions. Namely us tight fisted geeks, but we are such a tiny sliver of a minority that it does not matter in the scheme of things.  If Bitcoin were truly a peer-to-peer solution which rode on the backs of the masses then the masses would probably have some leverage.  It does not look to me like things are going to shake out that way.

Gold down again, Bitcoin UP.

he's on his period.

Don't despair and consider the following links before "cashing out", or however you call that.

http://www.reddit.com/r/Bitcoin/comments/1bidvo/why_its_not_too_late_to_get_involved_and_things/

http://www.reddit.com/r/Bitcoin/comments/1bhhjg/any_bitcoin_millionaires_here_on_reddit_if_so/c96rn3p

Indeed he is 

tv is such a tease.

Why? Please explaiin.

Why? Concentration of bit-wealth? One has to acknowledge the wealth concentration effects of an inflationary fiat environment, and that bitcoin drastically reduces those effects.

you are such a bad boy!

Heh, I just popped into this thread to post a teaser... I was thinking to torture you all a bit :-).  But since we are all glued to the charts anyway:

Bitcoin:  Holy sh*t!  Gold:  Hammered.

the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, Bitcoin=5.4):
Bitcoin is 111.50.  Gold is 1573.00
Bitcoin: 1964.81%
Gold:    -6.92%
Diff:  2118% advantage Bitcoin and Growing

time for an update, zerg. 

Here I am.

To me it is as unwise as ever to have put a sizable fraction of one's net worth into Bitcoin, and similarly as unwise to not have a fair fraction of one's net worth as physical metal, property, etc.

Of course a lot of it depends on one's financial position.  If one is in debt already, for instance, one can hardly go 'more bankrupt' so it might make a lot more sense to speculate.

I am of course delighted that Bitcoin has experienced the performance it has to date, and as hopeful as ever that it will explode in value one day, but my feelings about how it (and how PMs) fit into a rational financial strategy have changed very little in the last several years.

Also, part-n-parcel to having a footprint in Bitcoin is having a fairly good understanding of the technical details.  I have taken to having observer status on the development irc channel for instance so as to better anticipate future trends and it's some amount of work...in part because some escapee's from the leper colony of bitcointalk.org seem to have invaded.

Lastly, from a philosophical standpoint I have become quite demoralized about the potential for Bitcoin itself to have a net positive impact on humanity.  Thus I am ever more evaluating the situation with an eye toward cashing out significantly and maximizing my financial reward in doing so.

Under a rock of course...