Topic: Gold collapsing. Bitcoin UP. - page 623. (Read 2032266 times)

selling in Nov 2013 was not a bad call, especially if a guy had use for money in 2014.

quite scary!

Yet another use for the blockchain outside of money: http://www.reddit.com/r/Bitcoin/comments/2p56dp/controlling_a_computer_virus_with_the_blockchain/

Warning: Inflated ego:

http://panampost.com/belen-marty/2014/12/12/juan-llanos-bitcoin-was-born-regulated/

He should make up his mind:

 - tweet image: http://nakamotoinstitute.org/static/img/the-skeptics/emin-gun-sirer-2013-11-03.jpg

He should make up his mind:

He should make up his mind:

[img http://nakamotoinstitute.org/static/img/the-skeptics/emin-gun-sirer-2013-11-03.jpg[/img]

Gold could go down 20% or maybe 30% but it can go up 50%, 100% or a lot more so it seems like a good investment especially since you can have Gold without much third party risk.

I'd say (and have said) that the guy is pretty much spot on.  It will be more or less trivial to regulate Bitcoin at this point thanks to the idiots who want to take it mainstream in native form (cough...cypherdoc...cough.)  I've also described how simple and effective it would be to modulate through {choose-color}listing.  The fact that it has not happened yet is a testament to how much more useful it is alive than dead, and that is probably largely due to the number of moron semi-crooks who use it.

Now sidechains using Bitcoin as a reserve backing could, and hopefully will, change the dynamics significantly.  That is not to say that the same attacks on Bitcoin would not be possible, and that they would probably not have some grievous impacts on the userbase, but the attacks would be much more difficult to pull off and there would be a lot more flexibility in fighting them off.

Bitcoin in it's present form has one and basically only one major advantage over most other instruments.  No counter-party risk.  That's really about it IMHO.

That is a sad anecdote Adrian, but one that I think points to just how horrific the current debt-money system is. Hyper-financialization of basic goods required to live has resulted in massive debt payments that must be paid before anything else, including food.

When central banks enable free debt and leverage, it raises the price of everything people need to live, right up to the level where the public can just barely afford interest payments.

Take housing for example, without mortgages housing would be much cheaper and affordable. However with all the free leverage (30-45 year mortgages, ARMs, interest-only terms, 3% down, etc), the price of housing rises due to people bidding with leverage until no one can afford any higher interest payments. Same is true with education, health care, etc., these are all examples of necessary goods bid up due to hyper-financialization of the economy.

What is evil about this is it creates a form of debt-based serfdom for everyone. Where before your average person could save and buy a house outright in mid-life, today people can "buy" a house earlier in life, but then are locked into large debt payments that extract a significant portion of ones lifetime income potential. And there is no way to opt-out of this system, even if you choose to rent and not buy, rent prices go up with housing.

Debt serfdom is exactly what it is. We are all required to pay a significant portion of our life's labor to banks to support debt payments for basic goods that would never be priced so high without the free leverage offered.
 
So here we are today, where families skip basic food for children because they have to make the mortgage payment, school payment, healthcare payment, etc. It is scarily similar to the feudal system where people had to pay a portion of their labor to work the land to the people who inherited that land, now we have a system where people have to pay a portion of their labor to financial institutions to people who inherited financial wealth. The mechanism has changed, but the result has not.

Sorry if this is too negative or OT, comes from reading ZH for many years.

I missed that...where does he talk about people's holdings?

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Bitcoin in it's present form has one and basically only one major advantage over most other instruments.  No counter-party risk.  That's really about it IMHO.