Topic: Gold collapsing. Bitcoin UP. - page 629. (Read 2032266 times)

time for heads up:

This is important because it often feels that bitcoiners believe full adoption of Bitcoin is inevitable and it's eventual success is guaranteed, and as a result do not want to acknowledge real world barriers to wide spread adoption that are outside concepts of what is money.

The taxation issue he raises is a massive problem (which I tried to discuss last week). Having to report every coffee purchase to the IRS is simply unworkable at many levels. Maybe people excited for Bitcoin will do so, but most see it as too much of a hassle to bother. Incidentally taxation is one factor that broke gold's role as money. Under the gold standard using gold as money in transactions was not a taxable event, today it is.

And taxation is just an example of the government applying existing laws to bitcoins. The government has a multitude of addition tools in it's tool belt to maintain dollar superiority, from regulations (Bitlicense) to new laws to co-opting functionality the public demonstrates preferences for (the USDollarCoin example last week).

These current and future barriers could very much force Bitcoin to take a black market economy route towards larger adoption, which is a much slower path.


I am much more bullish than Richards on bitcoin's possibilities, but his concerns are all valid and it essentially comes down to opinions on how things will play out.

My personal belief is what gives bitcoin a possible chance is the fact that the existing financial system is on it's last legs (NIRP is a perfect example), and as it slowly breaks down an alternative will have to be found.

Bitcoin offers the global public an apolitical and non-government option, which would be ideal in a dollar breakdown scenario.

it's starting:

JPMorgan Chase & Co. (JPM) and Citigroup Inc. are among at least five banks urging big clients in the U.S. to park cash elsewhere as new rules make it onerous to hold certain deposits, the Wall Street Journal reported.

HSBC Holdings Plc (HSBA), Deutsche Bank AG and Bank of America Corp. expressed similar concerns in private talks with customers in past months, the newspaper said, citing unidentified people familiar with the conversations. In some cases, banks told clients -- including corporations, hedge funds, insurers and smaller lenders -- that fees may be added to accounts that have been free, it said. Banks, struggling to balance rising costs for certain deposits, already have begun charging customers for holding large amounts of euros, passing on fees imposed by the European Central Bank. Bank of New York Mellon Corp., which holds money for institutional investors, began charging for euro deposits on Oct. 1, Chief Financial Officer Todd Gibbons said that month, joining peers in passing along so-called negative interest rates.

http://www.bloomberg.com/news/2014-12-08/banks-urge-big-u-s-clients-to-move-deposits-wsj-reports.html

the Black Hole vortex continues to suck in all things valued:

Well, love is biological. It's a chemical reaction which quite possibly was already evolved back in those days. Our modern concept of love is a cultural meme which is built upon that biological phenomenon.

With regards to ethics, there definitely were ruled specifics to each tribe, and it's quite probable that forced sex, as murder, was prohibited very early in most. Because otherwise the tribe would lack cohesion and therefore would have a very low survival probabilities.

still a no-go here for us plebes.  is our destiny going to involve only big business?:

oil?  who the hell needs oil?:



for that matter, who the hell needs gold?:





continuing to fail?  this one is important, as continued "value" production would go hand in hand with increased transportation costs/utilization.  which is why a Dow Theory non-conf would be a big deal:

LOL There are a lot of people in the White House. Any guess who?

I'd guess that it's unlikely that the modern concept of love existed that far back in history. Rape probably also isn't a valid concept for pre-ethics protohumans, any more than it really makes sense to describe duck reproduction as rape.

It still doesn't explain why this should be love which determined the interbreeding instead of sheer force and darwinian competition.

If Homo Sapiens consistenly outcompeted Neanderthal in war, they surely used Neanderthal female for sex and reproductive purposes, thus prevented the Neandarthal's genes to be transmitted to their species members, while introducing some Neanderthal genes in Homo Sapiens' gene pool.

My point is that the fact that Homo Sapiens has some Neanderthal genes doesn't implies that it's love which determined the Neanderthals extinction, it could still be just darwinian fitness and rape.

https://genographic.nationalgeographic.com/neanderthal/

Fun fact:


Stay sharp, Bitcoiners!

That's very interesting but I am not sure there is a dichotomy between interbreeding and war. At the time, a big part of war goals was probably the access to other tribes' female.

I don't know if he (or you) knows much about the "extinction" of neanderthals.  Unless you are purebred African, you have neanderthal DNA.  Most Europeans and Asians have between 1-4% neanderthal.  It tends to lend a strong hybrid vigor, longer life is a result.  Neanderthals disappeared because they became part of everyone that ventured out.  They disappeared through love, interbreeding, not so much through war.  I am not entirely sure "extinction" is the proper term.

If bitcoin becomes part of everything, it will "go extinct in the way that neanderthals did".  So that quote is somewhat sublime, but I don't know if it is intentional.

I've been traveling a lot thanks to the coin and I have experiences like this surprisingly often. I was stuck in Stockholm on a flight from Latvia to the USA (jumped a train to Copenhagen rather than wait for the five day flight day courtesy of Norwegian but that's another story), and while we were waiting in a huge line trying to get into our free hotel for the evening I was talking about bitcoin to a young finance guy living in NYC. A guy in front of me on the line heard us and turned around saying either he lost money in gox due to the collapse or had traded poorly and lost that way.

A few days ago in Mumbai at a Bollywood movie premiere I was talking to one of the directors and he said bitcoin had been very useful for him...

Let us just say that lots of people around the world loved Silk Road.

These are random interactions and of course do not include the many meetings with the true bitcoin faithful.

Gotta say, I love it. Makes me happy when I see the cryptoanarchist dreams of the 90s coming true.

This sort of stuff can be surreal, as all of you know we started so small with dreams. Reminds me of some quote saying the great events of life are not accompanied by a fanfare of trumpets like in the movies. But I find such simple coincidences amazing. We are part of something big.

How about they fake ban? Then they revoke that claim?
China then russia next

From those pro finance guys, I don't expect them to recommend until they are sure they are done accumulating.
Both can be smart, and have differing risk tolerances.
Fundamentally, I think we are on the right side of history, but I also recognize that it is going to take a lot of our work to provemake that true.
There are a lot of folks trying to change things in different directions and we really don't know how that will play out.

And at the end of the day it is easier to change a protocol than it is to change an element on the periodic chart.

Sweet this means its time to buy

Damn, gold silver bitcoin & many more assets will be forced to crash well into 2015... All the selling this year was from insiders who know this, good luck to all!

Lol: