What, you shorted bullion?
Well as a matter of fact...
I have to confess I sold some of my btc stash.
Edit: If I am not mistaken, selling and spending is also a form of supporting bitcoin economy.
Topic: Gold collapsing. Bitcoin UP. - page 1540. (Read 2032281 times)
What, you shorted bullion?
Well as a matter of fact...
I have to confess I sold some of my btc stash.
Edit: If I am not mistaken, selling and spending is also a form of supporting bitcoin economy.
What, you shorted bullion?
Well as a matter of fact...
http://en.wikipedia.org/wiki/Constitutional_amendment
US constitution has a mechanism of amending itself
Yes it does and look how its been subverted in just four years.http://en.wikipedia.org/wiki/Amendments_to_the_United_States_Constitution
Of course not and I wouldn't want to do away with all the Bitcoin amendments (BIPS) either. The supply feature though I think is inviolate.
Seems it is near impossible to do anyway, as 99% approval would be required according to theymos: https://bitcointalksearch.org/topic/m.812331
http://en.wikipedia.org/wiki/Constitutional_amendment
US constitution has a mechanism of amending itself
Yes it does and look how its been subverted in just four years.http://en.wikipedia.org/wiki/Amendments_to_the_United_States_Constitution
Of course not and I wouldn't want to do away with all the Bitcoin amendments (BIPS) either. The supply feature though I think is inviolate.
Thanks for the warning. Now sell me your Bitcoins.
It is quotes like that which make me really miss Witcoin. It had a category for quotes that would be an aggregation of quotes from Bitcoin irc channels and the forum and was pretty entertaining. This one would have made it in there.
Thanks for the warning. Now sell me your bullion.
What, you shorted bullion?
No coin for you!
http://en.wikipedia.org/wiki/Constitutional_amendment
US constitution has a mechanism of amending itself
Yes it does and look how its been subverted in just four years.No idea what point you were trying to make here. Would you consider US constitution is the rule for a "rule based system"?
Would you rather to do away with all these amendments?
http://en.wikipedia.org/wiki/Amendments_to_the_United_States_Constitution
Thanks for the warning. Now sell me your Bitcoins.
It is quotes like that which make me really miss Witcoin. It had a category for quotes that would be an aggregation of quotes from Bitcoin irc channels and the forum and was pretty entertaining. This one would have made it in there.
US constitution has a mechanism of amending itself
Yes it does and look how its been subverted in just four years.
I think close to one hundred percent of the people here including the devs are here because of the fixed supply concept. No one is going to change those rules.
One thing I learned from the modern physics is the only thing doesn't change is the rule that everything is changing
US constitution has a mechanism of amending itself; Bitcoin has none, I see it as a weakness, not an advantage.
maybe it should
on the contrary, we need p2p to maintain a rules based system. governments have shown themselves to be completely unreliable. unfortunately any system depending on humans succumbs to corruption.
Please don't forget, developers and users are also humans.
Let's say by the year 2020, it becomes painful clear that for whatever reason bitcoin won't survive without changing the 21m cap rule. The tech lead, development team and 60% users voted to lift the rule, you are among the 40%, you think you can keep your rule?
I think close to one hundred percent of the people here including the devs are here because of the fixed supply concept. No one is going to change those rules.
on the contrary, we need p2p to maintain a rules based system. governments have shown themselves to be completely unreliable. unfortunately any system depending on humans succumbs to corruption.
Please don't forget, developers and users are also humans.
Let's say by the year 2020, it becomes painful clear that for whatever reason bitcoin won't survive without changing the 21m cap rule. The tech lead, development team and 60% users voted to lift the rule, you are among the 40%, you think you can keep your rule?
based on 7 yrs of holding hundreds of pounds of bulky silver/gold in safes at home and going thru the process of buying and then selling it, i just don't see how this thousand year old means of transacting can possibly match the needs of the present day internet connected economy. the taxes to be paid (almost half in my case) will alone take much of my profit. i even had some at Credit Suisse in Switzerland back in 2009 but sold it and paid my taxes cuz i was terrified it would be confiscated with what went down with UBS. if i want to pay a talented 18 yo coder in Azerbaijan to provide a patch for me i can't do it with gold even if i could shave it down to the right amount (big if). i can with Bitcoin. if central banks or gov'ts want to balance their payments nightly in the future with a stable, non-inflatable currency, they can't with gold, but can with Bitcoin (see George Selgin).
Likewise, I was painfully aware of all these shortcomings physical metal has, before I became aware of bitcoin's existence, I had been thinking about a "digital gold standard" for many years. I thought such a system only requires two attributes: a globally accessible database, and limited value units in it. A database modeling a virtual earth will likely work well as I discussed in one of my early post .The way I see it, the "P2P" attribute is not required for such a system. If global fiat system collapses tomorrow, the UN/IMF/BIS (or whatever new organization they prop up) can release such as centralized system, touting its "transparency" and "consensus building" among nations. Will people around the world use it? With world governments' support, the answer probably is a yes. The bottom line is, humans are socialized animals, and we need government, at least at the current development stage.
Like gold/silver, Bitcoin itself has no value, it's just a tool, carrying a community's belief and trust. If US government has had a responsible monetary policy, why do we still need Bitcoin? if everyone has faith in Facebook, why can't FB credit become a world currency?
on the contrary, we need p2p to maintain a rules based system. governments have shown themselves to be completely unreliable. unfortunately any system depending on humans succumbs to corruption.
Very much liked your post, cypherdoc! I fully share your trust in Bitcoin, the only thing I'm worried about is the entire tainted coins/ non- fungibility issue. Will that be a real danger for Bitcoin? Otherwise, I see nothing that in BTC's way that cannot be overcome.
nah, i don't worry about that. Mark is just trying to help the other exchanges. this is a temporary issue and the market will learn to ignore taints and treat them as fungible with all other coins.
Thanks for the warning. Now sell me your Bitcoins.
based on 7 yrs of holding hundreds of pounds of bulky silver/gold in safes at home and going thru the process of buying and then selling it, i just don't see how this thousand year old means of transacting can possibly match the needs of the present day internet connected economy. the taxes to be paid (almost half in my case) will alone take much of my profit. i even had some at Credit Suisse in Switzerland back in 2009 but sold it and paid my taxes cuz i was terrified it would be confiscated with what went down with UBS. if i want to pay a talented 18 yo coder in Azerbaijan to provide a patch for me i can't do it with gold even if i could shave it down to the right amount (big if). i can with Bitcoin. if central banks or gov'ts want to balance their payments nightly in the future with a stable, non-inflatable currency, they can't with gold, but can with Bitcoin (see George Selgin).
Likewise, I was painfully aware of all these shortcomings physical metal has, before I became aware of bitcoin's existence, I had been thinking about a "digital gold standard" for many years. I thought such a system only requires two attributes: a globally accessible database, and limited value units in it. A database modeling a virtual earth will likely work well as I discussed in one of my early post .The way I see it, the "P2P" attribute is not required for such a system. If global fiat system collapses tomorrow, the UN/IMF/BIS (or whatever new organization they prop up) can release such as centralized system, touting its "transparency" and "consensus building" among nations. Will people around the world use it? With world governments' support, the answer probably is a yes. The bottom line is, humans are socialized animals, and we need government, at least at the current development stage.
Like gold/silver, Bitcoin itself has no value, it's just a tool, carrying a community's belief and trust. If US government has had a responsible monetary policy, why do we still need Bitcoin? if everyone has faith in Facebook, why can't FB credit become a world currency?
Very much liked your post, cypherdoc! I fully share your trust in Bitcoin, the only thing I'm worried about is the entire tainted coins/ non- fungibility issue. Will that be a real danger for Bitcoin? Otherwise, I see nothing that in BTC's way that cannot be overcome.
nah, i don't worry about that. Mark is just trying to help the other exchanges. this is a temporary issue and the market will learn to ignore taints and treat them as fungible with all other coins.
just think how much money you could've made by selling in 1999 and 2007 before the crashes.
yeah, but what if I took his advice and shorted in 2004, 2005, or 2006? and i think he'll be right again with the next crash.
I am sure he will, according to the broken clock theory. this is where my cycle work comes in.
just think how much money you could've made by selling in 1999 and 2007 before the crashes.
yeah, but what if I took his advice and shorted in 2004, 2005, or 2006? and i think he'll be right again with the next crash.
I am sure he will, according to the broken clock theory. Very much liked your post, cypherdoc! I fully share your trust in Bitcoin, the only thing I'm worried about is the entire tainted coins/ non- fungibility issue. Will that be a real danger for Bitcoin? Otherwise, I see nothing that in BTC's way that cannot be overcome.
nah, i don't worry about that. Mark is just trying to help the other exchanges. this is a temporary issue and the market will learn to ignore taints and treat them as fungible with all other coins.
how much gold buying leverage is denominated in gold? none that i know of.
the debt is denominated in USD's. what happens to the gold price if the USD starts rising again b/c of debt deleveraging in other asset classes?
the debt is denominated in USD's. what happens to the gold price if the USD starts rising again b/c of debt deleveraging in other asset classes?
These are almost exact words Bob Prechter used in 2007 to argue that Fed would NOT print money to fend off deflation, for the past 5 years, these arguments have been proven wrong.
yes, but he was so right in predicting the 2 major stock crashes of over 50%. yes, he's also been wrong on the resulting reflations but just think how much money you could've made by selling in 1999 and 2007 before the crashes.
and i think he'll be right again with the next crash.
and i'm willing to take that speculative chance.
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If you do think bitcoin is a speculative investment, then you are probably not 100% invested in it, maybe not even 50%, or 30%. Where do you put the rest of your fiat then? treasury? saving account? under mattress?
thats correct. i never sold my RE, own cash, and have my successful business (most important).
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