Topic: Gold collapsing. Bitcoin UP. - page 395. (Read 2032266 times)
Bitcoin up, everything else down. Especially gold.
OK, it sounds like both ZB and you agree that Fedcoin could be made to work technically.
The question of whether the market would prefer it over Bitcoin is a different question.
The question of whether the market would prefer it over Bitcoin is a different question.
That fedCoin is no competition to Bitcoin, really. The killer app is sound money and fedCoin isn't sound.
this is the correct view.
Quote
If it's open to access for anyone and designed to dodge KYC, then anyone can be his own USD depository. So it's competition for entities storing USD for you (banks, exchanges,...). Using the fedCoin blockchain to store your USD definitely beats having it lay around at bitfinex (for example) and it also beats fed notes under the mattress, at least regarding security.
i don't think Fedcoin ever gets this far.
Me neither. But this is something I would actually have some use for (at least currently).
Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies into buying in and been responsible for the explosive upshot from $2-$36-$266
http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0
http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0
Interesting quote
“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy
Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?
in that case it would definitely be in the billions/ trillions... but i fail to see how the other currencies were to survive in this case.
I mostly agree except there may be a difference of time horizon. The really terrible currencies and financial systems may be replaced relatively quickly, with the more functional ones lasting longer to much longer. Thus the question of value given replacing just the terrible systems first is quite interesting.
It's already in the billions by the way, so that price target isn't very interesting.
Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies into buying in and been responsible for the explosive upshot from $2-$36-$266
http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0
http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0
Interesting quote
“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy
Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?
in that case it would definitely be in the billions/ trillions... but i fail to see how the other currencies were to survive in this case.
Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies into buying in and been responsible for the explosive upshot from $2-$36-$266
http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0
http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0
Interesting quote
“The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy
Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets?
Although I don't own one (yet), I'm becoming a real fan of these guys:
https://medium.com/@Ledger/leveraging-trusted-execution-environments-for-trustless-bitcoin-applications-752c8a767b52
https://medium.com/@Ledger/leveraging-trusted-execution-environments-for-trustless-bitcoin-applications-752c8a767b52
Rally time
Just read the NYT article on Bitcoin & Argentina. Quite a large piece devoted to Wences' story and the timeline of him evangelising to Silicon Valley friends (paypal, linkedin, microsoft heads) during March 2013. Coinciding with the Cyprus event, that conference may have triggered his disciplies into buying in and been responsible for the explosive upshot from $2-$36-$266
http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0
http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0
The comedians are the only ones left who can tell the truth:
http://www.theonion.com/articles/nation-just-hoping-next-president-can-prevent-coun,38512/
http://www.theonion.com/articles/nation-just-hoping-next-president-can-prevent-coun,38512/
Quote
In addition, 87 percent of citizens confirmed that during the next presidential term, they merely hope to occasionally read something about their country in the news that doesn’t leave them feeling ashamed, angry, depressed, or completely mortified.
“It’s pretty simple, really: Just lay out a clear-cut, straightforward plan for a future in which we don’t totally go down in flames on a grand stage, and you’ve got my vote,” said Allison Joyce, a 47-year-old middle school teacher from Bethesda, MD. “Look, I don’t need to be inspired; I don’t need to be assured our future is bright; I don’t need to be told I’m strong and resilient in the face of hardship. Just convince me we can get through the next decade in the least demeaning way possible given all our problems with childhood poverty, gun violence, and people dying because they can’t afford medical treatment. That’s it.”
“That’s seriously all I want from my president going forward,” she added. “Just the faintest of silver linings that I can hold on to while everything else goes down the drain.”
Though they admitted to reporters that no one in the current field of presidential hopefuls seems likely to spare the country much humiliation while its infrastructure crumbles and its reputation is reduced to tatters, most voters expressed optimism that such a candidate will eventually emerge.
“We know what’s in store for America, so if we could elect someone who’s committed to keeping things somewhat tolerable while the whole place goes to hell, that’d be great,” said Seattle-based tax attorney Greg Hudson, 57. “It’s really our best hope at this point. The British Empire kind of just gradually fell by the wayside without too much embarrassment. Maybe we can, too. Who knows, we might still be able to go out with a little bit of class.”
“Then again,” Hudson added, “maybe at this point the best option is to put someone in the White House who will just bite the bullet and get this whole thing over with as quickly as possible.”
“It’s pretty simple, really: Just lay out a clear-cut, straightforward plan for a future in which we don’t totally go down in flames on a grand stage, and you’ve got my vote,” said Allison Joyce, a 47-year-old middle school teacher from Bethesda, MD. “Look, I don’t need to be inspired; I don’t need to be assured our future is bright; I don’t need to be told I’m strong and resilient in the face of hardship. Just convince me we can get through the next decade in the least demeaning way possible given all our problems with childhood poverty, gun violence, and people dying because they can’t afford medical treatment. That’s it.”
“That’s seriously all I want from my president going forward,” she added. “Just the faintest of silver linings that I can hold on to while everything else goes down the drain.”
Though they admitted to reporters that no one in the current field of presidential hopefuls seems likely to spare the country much humiliation while its infrastructure crumbles and its reputation is reduced to tatters, most voters expressed optimism that such a candidate will eventually emerge.
“We know what’s in store for America, so if we could elect someone who’s committed to keeping things somewhat tolerable while the whole place goes to hell, that’d be great,” said Seattle-based tax attorney Greg Hudson, 57. “It’s really our best hope at this point. The British Empire kind of just gradually fell by the wayside without too much embarrassment. Maybe we can, too. Who knows, we might still be able to go out with a little bit of class.”
“Then again,” Hudson added, “maybe at this point the best option is to put someone in the White House who will just bite the bullet and get this whole thing over with as quickly as possible.”
when will people finally figure out that changing a guy on top of the power-structure doesn't bring about any meaningful change? We've tried and tried and still can't seem to vote in the "right people", yet so many people still cling to this idea of "if only we could vote in the right, honest and competent politicians all would be well". I'd really love to see the most benevolent and competent of all people put into positions of power, just to prove once and for all that it doesn't change anything. And they call my anarchist fantasies naive...hey those are at least something we haven't tried a gazillion times yet!
The first P2P exchange is moving forward:
http://www.coinffeine.com/download.html
The Technical Preview version is here!
http://www.coinffeine.com/download.html
The Technical Preview version is here!
Another killer app of Bitcoin that is overlooked is that it's the only truly global currency.
With fedcoin there will still be the good old conversion fees and currency risks.
With fedcoin there will still be the good old conversion fees and currency risks.
Yes and for this reason, as I suggested above, it will thrive in locations where the local currency and financial system functions the worst. This should be obvious: Bitcoin is the same everywhere, but it is competing with systems that aren't. It will succeed, if at all, first against the worst of those systems.
This doesn't need to be geographic necessarily. There are segments of the economy even in developed countries that are worst-served by the existing system (for example the medical marijuana industry in the USA).
Another killer app of Bitcoin that is overlooked is that it's the only truly global currency.
With fedcoin there will still be the good old conversion fees and currency risks.
With fedcoin there will still be the good old conversion fees and currency risks.
OK, it sounds like both ZB and you agree that Fedcoin could be made to work technically.
The question of whether the market would prefer it over Bitcoin is a different question.
The question of whether the market would prefer it over Bitcoin is a different question.
That fedCoin is no competition to Bitcoin, really. The killer app is sound money and fedCoin isn't sound.
this is the correct view.
Quote
If it's open to access for anyone and designed to dodge KYC, then anyone can be his own USD depository. So it's competition for entities storing USD for you (banks, exchanges,...). Using the fedCoin blockchain to store your USD definitely beats having it lay around at bitfinex (for example) and it also beats fed notes under the mattress, at least regarding security.
i don't think Fedcoin ever gets this far.
OK, it sounds like both ZB and you agree that Fedcoin could be made to work technically.
The question of whether the market would prefer it over Bitcoin is a different question.
The question of whether the market would prefer it over Bitcoin is a different question.
That fedCoin is no competition to Bitcoin, really. The killer app is sound money and fedCoin isn't sound.
If it's open to access for anyone and designed to dodge KYC, then anyone can be his own USD depository. So it's competition for entities storing USD for you (banks, exchanges,...). Using the fedCoin blockchain to store your USD definitely beats having it lay around at bitfinex (for example) and it also beats fed notes under the mattress, at least regarding security.
Quote
Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
Quote
Dollar account balances held by Circle customers are FDIC-insured.
http://blog.circle.com/2015/04/30/new-circle-investors-new-us-dollar-account-features-china-horizons/
Interesting moves from Circle.
Goldman Sachs investment sure to raise some eyebrows
are you noticing a theme here? don't bother to really credit Bitcoin as the plumbing underneath enabling the intl transfer of dollar balances:
Circle’s robust support for Bitcoin also gets even better. If customers choose to hold dollars instead of bitcoin balances, they can still pay any person or merchant who accepts payment in bitcoin, without ever holding bitcoin themselves. Circle will handle instant conversion from dollars into bitcoin at the time of the payment. The reverse is also true: customers can accept bitcoin and expect Circle to convert it instantly into dollars in their Circle accounts. This gives customers the benefits of bitcoin payments without the risk of price volatility.
This way, customers can choose to view Bitcoin not as a new currency to replace the dollar, but as an Internet payment network that enables secure, instant, global and nearly free payments.
The only theme I'm noticing is you letting these absolutely inoffensive distractions bother you.
I wouldn't say it is offensive, but it does make Circle's contribution to the popularization of Bitcoin relatively marginal at best. Maybe that was always going to be the case, whether they offered auto-converting dollar-denominated accounts or not though.
Look elsewhere for developments that may actually help Bitcoin in a meaningful way, for example: http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?smid=tw-share
"With its volatile currency and dysfunctional banks, the country is the perfect place to experiment with a new digital currency" -- As I said
Bitcoin has to find markets to serve that aren't well served by e.g. credit cards. I don't know what those are. Maybe the unbanked. Maybe the third world. Maybe it's people seeking refuge from an unstable fiat monetary and banking system. Maybe it's libertarians with a political agenda. Maybe its none of those. The one thing I know is that it isn't Sally Sixpack in the West using it instead of a credit card for no good reason at all.
Quote
Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
Quote
Dollar account balances held by Circle customers are FDIC-insured.
http://blog.circle.com/2015/04/30/new-circle-investors-new-us-dollar-account-features-china-horizons/
Interesting moves from Circle.
Goldman Sachs investment sure to raise some eyebrows
are you noticing a theme here? don't bother to really credit Bitcoin as the plumbing underneath enabling the intl transfer of dollar balances:
Circle’s robust support for Bitcoin also gets even better. If customers choose to hold dollars instead of bitcoin balances, they can still pay any person or merchant who accepts payment in bitcoin, without ever holding bitcoin themselves. Circle will handle instant conversion from dollars into bitcoin at the time of the payment. The reverse is also true: customers can accept bitcoin and expect Circle to convert it instantly into dollars in their Circle accounts. This gives customers the benefits of bitcoin payments without the risk of price volatility.
This way, customers can choose to view Bitcoin not as a new currency to replace the dollar, but as an Internet payment network that enables secure, instant, global and nearly free payments.
The only theme I'm noticing is you letting these absolutely inoffensive distractions bother you.
poor brg444. over-reacting again.
Quote
Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
Quote
Dollar account balances held by Circle customers are FDIC-insured.
http://blog.circle.com/2015/04/30/new-circle-investors-new-us-dollar-account-features-china-horizons/
Interesting moves from Circle.
Goldman Sachs investment sure to raise some eyebrows
are you noticing a theme here? don't bother to really credit Bitcoin as the plumbing underneath enabling the intl transfer of dollar balances:
Circle’s robust support for Bitcoin also gets even better. If customers choose to hold dollars instead of bitcoin balances, they can still pay any person or merchant who accepts payment in bitcoin, without ever holding bitcoin themselves. Circle will handle instant conversion from dollars into bitcoin at the time of the payment. The reverse is also true: customers can accept bitcoin and expect Circle to convert it instantly into dollars in their Circle accounts. This gives customers the benefits of bitcoin payments without the risk of price volatility.
This way, customers can choose to view Bitcoin not as a new currency to replace the dollar, but as an Internet payment network that enables secure, instant, global and nearly free payments.
The only theme I'm noticing is you letting these absolutely inoffensive distractions bother you.
Quote
Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
Quote
Dollar account balances held by Circle customers are FDIC-insured.
http://blog.circle.com/2015/04/30/new-circle-investors-new-us-dollar-account-features-china-horizons/
Interesting moves from Circle.
Goldman Sachs investment sure to raise some eyebrows
are you noticing a theme here? don't bother to really credit Bitcoin as the plumbing underneath enabling the intl transfer of dollar balances:
Circle’s robust support for Bitcoin also gets even better. If customers choose to hold dollars instead of bitcoin balances, they can still pay any person or merchant who accepts payment in bitcoin, without ever holding bitcoin themselves. Circle will handle instant conversion from dollars into bitcoin at the time of the payment. The reverse is also true: customers can accept bitcoin and expect Circle to convert it instantly into dollars in their Circle accounts. This gives customers the benefits of bitcoin payments without the risk of price volatility.
This way, customers can choose to view Bitcoin not as a new currency to replace the dollar, but as an Internet payment network that enables secure, instant, global and nearly free payments.
Quote
Today we announced a major step forward in the execution of our vision and product strategy. We've closed a new $50 million strategic investment round co-led by Goldman Sachs and IDG Capital Partners.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
And for the first time, we're giving Circle customers the ability to hold, send, and receive US dollars as well as bitcoin -- instantly, securely, and with no fees. In addition to sending and receiving dollars, customers can also enjoy the benefits of the Bitcoin network without the risk of price volatility.
Quote
Dollar account balances held by Circle customers are FDIC-insured.
http://blog.circle.com/2015/04/30/new-circle-investors-new-us-dollar-account-features-china-horizons/
Interesting moves from Circle.
Goldman Sachs investment sure to raise some eyebrows
Russia resumed its monthly central bank gold purchases. 13% of currency reserves are held in gold, China was at 1% some time ago and is still increasing but not reporting it. The Ruble has strengthened vs dollar so rates are falling but with more gold backing it.
Im not sure what could break golds down trend for certain but its a long time since we saw any decent jump on news
Im not sure what could break golds down trend for certain but its a long time since we saw any decent jump on news
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