Author

Topic: Gold collapsing. Bitcoin UP. - page 633. (Read 2032266 times)

legendary
Activity: 1764
Merit: 1002
December 06, 2014, 02:53:05 AM
Looks like lights out for Ripple.

Nah they will probably just continue to market the service as a centralized system. They have all these deals with banks and such now. Do those people actually care about decentralized?

It is lights out for being meaningful competition to bitcoin, but I'm not sure it ever was.



Didn't they run off a hashchain model?
legendary
Activity: 2968
Merit: 1198
December 06, 2014, 02:49:02 AM
Looks like lights out for Ripple.

Nah they will probably just continue to market the service as a centralized system. They have all these deals with banks and such now. Do those people actually care about decentralized?

It is lights out for being meaningful competition to bitcoin, but I'm not sure it ever was.

legendary
Activity: 1764
Merit: 1002
December 06, 2014, 02:20:32 AM
Steller (and by extension, Ripple) consensus now empirically broken: https://www.stellar.org/blog/safety_liveness_and_fault_tolerance_consensus_choice/

Temporary fix is to degrade the network to a single (!) validating node.

Sounds like the long-term fix is to introduce some sort of a network-wide "pause" ability.....several months from now.

I'm guessing that they'll eventually explicitly abandon meaningful decentralization.

Wow, that's a big deal.

Looks like lights out for Ripple.
legendary
Activity: 1722
Merit: 1004
December 06, 2014, 01:24:59 AM
Steller (and by extension, Ripple) consensus now empirically broken: https://www.stellar.org/blog/safety_liveness_and_fault_tolerance_consensus_choice/

Temporary fix is to degrade the network to a single (!) validating node.

Sounds like the long-term fix is to introduce some sort of a network-wide "pause" ability.....several months from now.

I'm guessing that they'll eventually explicitly abandon meaningful decentralization.
legendary
Activity: 817
Merit: 1000
December 06, 2014, 12:49:48 AM
ppl are getting closer to "The blockchain may only ever be applicable to Bitcoin as Money"-cypherdoc.

The fact that you are still sticking to this quote has caused me to switch from seriously respecting you to someone who can no longer take you seriously. It has already been proven time and time again that the blockchain is a brand new science that has yet to be fully explored and it's ramifications yet undiscovered. There are so many examples of how the blockchain can be used for so so much more then bitcoin as money, that your closed mindedness has me in such a serious state of shock and wonder. How is it that your mind can be so open open to Bitcoin while being so closed to it's innovations, yet be so shut down to the possibilities that the next 100 years will not expand on this innovation in more ways then humans can even begin to imagine?

Why don't you take a look at this, and tell me the blockchain is only applicable to money?

https://nxtforum.org/nxt-projects/helix-dapps-test-cp-repos/

http://finhive.com/roadmap.html
sr. member
Activity: 353
Merit: 250
December 05, 2014, 11:32:37 PM
It's coming:

Russian BTC buying continues to accelerate - localbitcoins volume sets 7th consecutive weekly record.

http://bitcoincharts.com/charts/localbtcRUB#igWeeklyztgSzm1g10zm2g25zvzcv

Nice to know, so far Russian has been below expectation.
hero member
Activity: 544
Merit: 500
December 05, 2014, 10:53:52 PM
It's coming:

Russian BTC buying continues to accelerate - localbitcoins volume sets 7th consecutive weekly record.




I presume any recovery will be tempered, at least until the rest of those 93000 coins have been sold off by the fed.
legendary
Activity: 1764
Merit: 1002
December 05, 2014, 10:34:28 PM
It's coming:

Russian BTC buying continues to accelerate - localbitcoins volume sets 7th consecutive weekly record.

http://bitcoincharts.com/charts/localbtcRUB#igWeeklyztgSzm1g10zm2g25zvzcv
legendary
Activity: 1764
Merit: 1002
December 05, 2014, 10:01:49 PM
Back into the bullish flag. Just a matter of time. 
legendary
Activity: 2044
Merit: 1005
December 05, 2014, 08:52:37 PM
dow is a buy but noobs are stRting to buy stocks again so careful... hedge by buying gold silver because noobs starting to short gold
member
Activity: 98
Merit: 10
December 05, 2014, 08:40:38 PM
It's very good that the DOJ has coughed up 80000 coins. Let's hope they keep selling.

Agreed but there will likely be similar type seizures in the future (although maybe not on the scale of the Silk Road).
legendary
Activity: 1764
Merit: 1002
December 05, 2014, 07:56:37 PM
It's very good that the DOJ has coughed up 80000 coins. Let's hope they keep selling.
full member
Activity: 126
Merit: 100
December 05, 2014, 07:43:24 PM
Glad to see you post cypherdoc... There is no denying Segio is one smart dude!
legendary
Activity: 1764
Merit: 1002
legendary
Activity: 1764
Merit: 1002
legendary
Activity: 1204
Merit: 1002
Gresham's Lawyer
December 05, 2014, 06:00:37 PM
Help them export that subsidized electricity.
This...
And preserve the economic liberty of those that "get it" in country.

Folks who have expenses elsewhere are not so keen on taking the Venezuelan Bolivar especially when it looks like it could get "stepped on" :
http://www.xe.com/currencycharts/?from=USD&to=VEF&view=10Y

Places like that don't have to wait for bitcoin emission halving for price appreciation, they have that on their own schedule...
legendary
Activity: 1372
Merit: 1000
December 05, 2014, 05:29:48 PM

Please consider whether it would be a more ore interesting comparison than:
Mining-electricity cost / Cost of living
would be
Mining-electricity cost / local value of bitcoin

I suspect that anyone that has expenses in the local currencies of these countries would do VERY well to be mining, as bitcoin would trade at a high premium in places where inflation is high.  

So Venezuela in particular, where energy is highly subsidized, should be a Bitcoin Mining Boom Town.

Thinking about it Mining-electricity cost / Cost of living is just a relative risk criteria.
The cool thing with Bitcoin is it's global so the biggest markets set the price and local markets just adapt to supply and demand the more effective the exchange controls and the more oppressive the inflation the higher the premium on Bitcoin.

The great thing about mining in those places is you are forced to cover your overhead in those markets. So adoption is almost a product of doing Bitcoin business there. And profits can move freely on the blockchain.

Those Venezuelans if they new it should be importing mining equipment or we should be setting up mining farms over there. Help them export that subsidized electricity.

I'm also liking https://www.bitpagos.com/en/ business idea.
legendary
Activity: 1204
Merit: 1002
Gresham's Lawyer
December 05, 2014, 05:04:08 PM


Places where Bitcoin use should be expanded.
For the health and welfare of the people.

There is a challenge, it is unlikely that any of the nations on that list have mined a lot of Bitcoins.
So there are very few ways Bitcoin can find there way there. it is likely most of those on the list have very stringent exchange controls so buying Bitcoin to import is difficult.

Quite a few have cheep energy cost, so mining could be a viable way to export cheep subsidized electricity. (I've glanced at Ukraine and suspect while bitcoin is readily available its probably very expensive when sold at one of over 4000 ATM's, and some one has taken advantage of the there highly subsidized electricity - GHash.io possibly paying as low as $0.026 US per kWh )

As for the majority though energy costs are relatively high given the cost of living so entrepreneurs might find it more practical to find a commodity to export in-order to earn Bitcoin. (ie they are going to be slow to adopt) Surprisingly Canada electricity cost in comparison with cost of living is surprisingly cheep.

Just looking at these numbers there are some great opportunities, Egypt stands out, if you could come up with a decentralized mining solution that substituted for some existing electric heating application, you could employ a nation wide distributed mining farm for just pennies per kWh.  

Please consider whether it would be a more ore interesting comparison than:
Mining-electricity cost / Cost of living
would be
Mining-electricity cost / local value of bitcoin

I suspect that anyone that has expenses in the local currencies of these countries would do VERY well to be mining, as bitcoin would trade at a high premium in places where inflation is high. 

So Venezuela in particular, where energy is highly subsidized, should be a Bitcoin Mining Boom Town.
legendary
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
December 05, 2014, 03:35:19 PM


Places where Bitcoin use should be expanded.
For the health and welfare of the people.

There is a challenge, it is unlikely that any of the nations on that list have mined a lot of Bitcoins.
So there are very few ways Bitcoin can find there way there. it is likely most of those on the list have very stringent exchange controls so buying Bitcoin to import is difficult.

Quite a few have cheep energy cost, so mining could be a viable way to export cheep subsidized electricity. (I've glanced at Ukraine and suspect while bitcoin is readily available its probably very expensive when sold at one of over 4000 ATM's, and some one has taken advantage of the there highly subsidized electricity - GHash.io possibly paying as low as $0.026 US per kWh )

As for the majority though energy costs are relatively high given the cost of living so entrepreneurs might find it more practical to find a commodity to export in-order to earn Bitcoin. (ie they are going to be slow to adopt) Surprisingly Canada electricity cost in comparison with cost of living is surprisingly cheep.

Just looking at these numbers there are some great opportunities, Egypt stands out, if you could come up with a decentralized mining solution that substituted for some existing electric heating application, you could employ a nation wide distributed mining farm for just pennies per kWh.  

Tourism

nice, that's a good one, it has a few drawbacks to over come, Virgin loosing a pilot defiantly put a dampener on space tourism, and I think Ebola is working to minimize the will to sit in confined spaces and travel to Africa.

One needs to catch people - get them to book - when they are feeling rich, so boom bust cycles for tourism may coincide with Bitcoin growth spurts, (bitcoin may prove to be a little unstable as a SoV over there if 3rd world tourist destinations are buying at the tops.)

According to coinmap.org there are 130 places which take bitcoin in Buenos Aires. Argentina had 5.28 million visitors in 2010 according to Wikipedia. If everyone left some bits there...

And we have BitPagos Smiley

https://www.bitpagos.com/en/
legendary
Activity: 1372
Merit: 1000
December 05, 2014, 02:43:39 PM


Places where Bitcoin use should be expanded.
For the health and welfare of the people.

There is a challenge, it is unlikely that any of the nations on that list have mined a lot of Bitcoins.
So there are very few ways Bitcoin can find there way there. it is likely most of those on the list have very stringent exchange controls so buying Bitcoin to import is difficult.

Quite a few have cheep energy cost, so mining could be a viable way to export cheep subsidized electricity. (I've glanced at Ukraine and suspect while bitcoin is readily available its probably very expensive when sold at one of over 4000 ATM's, and some one has taken advantage of the there highly subsidized electricity - GHash.io possibly paying as low as $0.026 US per kWh )

As for the majority though energy costs are relatively high given the cost of living so entrepreneurs might find it more practical to find a commodity to export in-order to earn Bitcoin. (ie they are going to be slow to adopt) Surprisingly Canada electricity cost in comparison with cost of living is surprisingly cheep.

Just looking at these numbers there are some great opportunities, Egypt stands out, if you could come up with a decentralized mining solution that substituted for some existing electric heating application, you could employ a nation wide distributed mining farm for just pennies per kWh.  

Tourism

nice, that's a good one, it has a few drawbacks to over come, Virgin loosing a pilot defiantly put a dampener on space tourism, and I think Ebola is working to minimize the will to sit in confined spaces and travel to Africa.

One needs to catch people - get them to book - when they are feeling rich, so boom bust cycles for tourism may coincide with Bitcoin growth spurts, (bitcoin may prove to be a little unstable as a SoV over there if 3rd world tourist destinations are buying at the tops.)
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