Author

Topic: Gold collapsing. Bitcoin UP. - page 486. (Read 2032286 times)

legendary
Activity: 1764
Merit: 1002
February 22, 2015, 04:51:05 PM
bitcoin has a controlled amount , there could be a million kg of gold undiscovered.
Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".
Viable? What does this exactly mean, can you elaborate a bit?
Asteroid-mining pops up from time to time as a "game-changer" in the press, but the fact is for now there is nothing mature enough to affect the price of gold.
We may use this as an argument once this becomes a real possibility, for now it is a bit off-topic, I am afraid.

Point being, you said gold was scarce and this is incorrect. More correctly it is technically inaccessible, for now.

Viable means economic to retrieve in this context, if that was not obvious. There is now an identifiable technology development path towards retrieving gold from asteroids, do your own research on this if you do not believe me, I don't have time to lay it all out for you. Time and costs to becoming viable will only decrease from here onwards.

Ever since the Philae Lander, one cannot doubt any of these claims.
legendary
Activity: 1764
Merit: 1002
February 22, 2015, 04:45:30 PM
My favourite client, Armory, will also support Trezor in the future.

This is good news and should satisfy cyphers privacy needs.


Yeah, once these 2 get integrated, it'll be a dynamite combination for security.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
February 22, 2015, 04:17:38 PM
bitcoin has a controlled amount , there could be a million kg of gold undiscovered.
Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".
Viable? What does this exactly mean, can you elaborate a bit?
Asteroid-mining pops up from time to time as a "game-changer" in the press, but the fact is for now there is nothing mature enough to affect the price of gold.
We may use this as an argument once this becomes a real possibility, for now it is a bit off-topic, I am afraid.

Point being, you said gold was scarce and this is incorrect. More correctly it is technically inaccessible, for now.

Viable means economic to retrieve in this context, if that was not obvious. There is now an identifiable technology development path towards retrieving gold from asteroids, do your own research on this if you do not believe me, I don't have time to lay it all out for you. Time and costs to becoming viable will only decrease from here onwards.
donator
Activity: 2772
Merit: 1019
February 22, 2015, 04:08:01 PM
My favourite client, Armory, will also support Trezor in the future.

This is good news and should satisfy cyphers privacy needs.
uki
legendary
Activity: 1358
Merit: 1000
cryptojunk bag holder
February 22, 2015, 03:52:49 PM
bitcoin has a controlled amount , there could be a million kg of gold undiscovered.
Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".
Viable? What does this exactly mean, can you elaborate a bit?
Asteroid-mining pops up from time to time as a "game-changer" in the press, but the fact is for now there is nothing mature enough to affect the price of gold.
We may use this as an argument once this becomes a real possibility, for now it is a bit off-topic, I am afraid.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
February 22, 2015, 03:33:28 PM
bitcoin has a controlled amount , there could be a million kg of gold undiscovered.
Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.

Not really.

Asteroid mining is now within the realms of becoming viable. The gold resources there will dwarf anything seen on this planet. Once the transport mechanisms have been developed for recovery the gold is imminently more accessible, i.e. it is basically there in a pure form waiting to be "picked up".
legendary
Activity: 1764
Merit: 1002
February 22, 2015, 12:11:51 PM
increasing decentralization:

uki
legendary
Activity: 1358
Merit: 1000
cryptojunk bag holder
February 22, 2015, 09:45:49 AM
bitcoin has a controlled amount , there could be a million kg of gold undiscovered.
Not really.
the gold resources that were not mined yet, are already identified and are scarce as well (that is why gold is one of the precious metals).
Also the ore quality is decreasing, so it costs more to get the same amount of gold.
hero member
Activity: 700
Merit: 500
February 22, 2015, 08:52:45 AM
bitcoin has a controlled amount , there could be a million kg of gold undiscovered.
uki
legendary
Activity: 1358
Merit: 1000
cryptojunk bag holder
February 22, 2015, 08:34:56 AM
meanwhile, gold was pushed again down to the $1200 line. Seems like $1180 is back in the cards. Slip there will pretty much set the gold market for the first half of 2015.
Oil was waiting for a dead cat bounce, we got it, so now 30 handle may be in the cards. But not for very long. I don't think the US economy can kill their best profitable sector in the last two years without a fight.
legendary
Activity: 1260
Merit: 1002
February 22, 2015, 08:14:01 AM
Quote
And now that Greece has suffered its harshest hangover in years following several short weeks of hope that this time it may be finally different, it is time to repeat the farce from the beginning as yet another party will soon appeal to the Greek people with even greater and even more unrealistic promises, declaring that unlike Samaras, pardon, Tsipras, this time they will really show Germany who's boss.
http://www.zerohedge.com/news/2015-02-21/what-ordinary-greeks-think-fridays-deal-we-went-through-two-months-agony-realize-we-

rinse & repeat Cheesy
legendary
Activity: 1764
Merit: 1002
February 21, 2015, 09:21:36 PM
My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?

I guess so. I don't know the details, but both etotheipi and goatpig have confirmed that they will implement Trezor in Armory.

whatever it takes to get myTrezor.com or any other centralized server out of the loop.
legendary
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
February 21, 2015, 08:49:33 PM
My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?

I guess so. I don't know the details, but both etotheipi and goatpig have confirmed that they will implement Trezor in Armory.
legendary
Activity: 1764
Merit: 1002
February 21, 2015, 08:26:13 PM

that "shill" has made a bundle off appreciating UST's since 1980.  calculate that one out.
legendary
Activity: 1764
Merit: 1002
February 21, 2015, 08:25:31 PM
My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?
legendary
Activity: 1260
Merit: 1002
legendary
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
February 21, 2015, 05:39:35 PM
My favourite client, Armory, will also support Trezor in the future.
legendary
Activity: 1153
Merit: 1000
February 21, 2015, 05:03:45 PM
And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Depends on the efficiency of the bacteria patent enforcer.

Good thing we have crypto. Otherwise (with our human greed), we'd probably turn the whole planet into gold in the long run.

Bacteria can not produce gold, you need a nuclear reaction to do that.

They found a bacteria that can live in gold chlroride, and does so by extracting the gold content into solid micro nuggets. This is simply another method to mine gold, but the ledger of gold atoms is still intact. Gold chlroride BTW is both rare and expensive.

Now if anyone ever found a method to profitably extract gold from ocean water....
donator
Activity: 2772
Merit: 1019
February 21, 2015, 12:45:06 PM
And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Depends on the efficiency of the bacteria patent enforcer.

Good thing we have crypto. Otherwise (with our human greed), we'd probably turn the whole planet into gold in the long run.
donator
Activity: 2772
Merit: 1019
February 21, 2015, 12:36:49 PM
molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.


How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

I have no problem with running a full node with s local client to maintain privac.  That should've been an option.

Satoshilabs is not in the business of making wallet software. They just made myTrezor site as a preliminary solution until wallet devs implemented trezor support.

I think maybe you want trezor support in bitcoin-qt (or bitcoin core or what it's called)?

You could rather easily use "bitcoind + local electrum server + electrum"

Also: maybe multibit might be a solution? Not sure how far the trezor support is, though.
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