Author

Topic: Gold collapsing. Bitcoin UP. - page 921. (Read 2032270 times)

legendary
Activity: 4760
Merit: 1283
September 26, 2014, 02:06:07 PM
I found this quote interesting in light of Ethereum:

A robustly engineered program should intersect with bash, or any other Turing-complete system, at as few points as possible, and in as constrained a format as possible.

https://www.veracode.com/blog/2014/09/misfeatures-strike-again

Took four words and a symbol to total fail:

  "Bash – the Unix shell – came out ..."

If anything is 'the unix shell' it is bourne shell.  I've had to devise systems occasionally which allow some user input to a shell or other program but it is rare and I aggressively limited the input.  In fairness, however, it would be possible for a regex engine (which does the discrimination)  to harbor some hidden bug as well, but relatively unlikely;  many of these ancient systems are quite small and simple and have been extensively analyzed over the past decades.  The changes are small so a lot of eyes will be looking at the deltas.

IMHO, the best way to achieve security is to build on very simple solutions and try to make one's own system very limited.  Even more critically, don't be lazy when it comes to installation (esp, which user executes which operations.)

legendary
Activity: 1764
Merit: 1002
September 26, 2014, 01:50:06 PM
I found this quote interesting in light of Ethereum:

A robustly engineered program should intersect with bash, or any other Turing-complete system, at as few points as possible, and in as constrained a format as possible.

https://www.veracode.com/blog/2014/09/misfeatures-strike-again
legendary
Activity: 4760
Merit: 1283
September 26, 2014, 01:25:54 PM

Obviously Bitcoin has more potential than Gold and performed better last few years but Bitcoin is more risky and Gold can benefit of the upcoming fall of the USD and western financial system too so it's a great asset to have for us who know what is coming


In my mind it's most likely that distributed crypto-currencies will benefit from a lose of confidence in fiat systems much more than gold.  The simple reason for this is that they are new and starting from a lower position relative to gold and silver.

I see gold, and to a larger degree, silver, as being something to have should a loss of confidence in fiat systems result in war, famine, totalitarianism, etc.  Such outcomes are not unusual in times of economic collapse and I don't think that any country is immune from them.  It would be much easier for authoritarians to limit realistic normal use of something like Bitcoin which requires a reasonably well-working and free global internet and in times of strife I find it almost inconceivable that such a thing would go unchallenged.  It would still be worth having some private keys with assigned value, but mostly to hold on to for better times and/or to use in operations which are already quite risky anyway.

legendary
Activity: 1918
Merit: 1018
September 26, 2014, 12:49:41 PM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's a fun fact

gold getting smacked again.  Bitcoin stable.

This year Gold is in positive and Bitcoin lost 50%

that's true when you cherry pick.

i can do that too; look at the 5 yr chart Wink

And looking at something's eternal lifetime (so for both gold and Bitcoin and annualized), might not be considered cherry picking too. 

Ok, go back 3y then Wink



Obviously Bitcoin has more potential than Gold and performed better last few years but Bitcoin is more risky and Gold can benefit of the upcoming fall of the USD and western financial system too so it's a great asset to have for us who know what is coming

When you said Gold is getting smacked and Bitcoin is up it is indeed ery relative to the time frame Grin And you know that cypherdoc (cool name BTW)
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 12:48:05 PM
Skim this report, not one mention of Bitcoin. They're talking about a triple bottom in gold despite silver having broken down out of its consolidation pattern. Big mistake. Not only that, but all the masturbation around mining companies.

We are nowhere near a bubble in Bitcoin, as the gold bugs have yet to come (literally) :

http://www.theaureport.com/pub/na/16271
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 12:08:25 PM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's a fun fact

gold getting smacked again.  Bitcoin stable.

This year Gold is in positive and Bitcoin lost 50%

that's true when you cherry pick.

i can do that too; look at the 5 yr chart Wink

And looking at something's eternal lifetime (so for both gold and Bitcoin and annualized), might not be considered cherry picking too. 

Ok, go back 3y then Wink

legendary
Activity: 2324
Merit: 1125
September 26, 2014, 10:19:05 AM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's a fun fact

gold getting smacked again.  Bitcoin stable.

This year Gold is in positive and Bitcoin lost 50%

that's true when you cherry pick.

i can do that too; look at the 5 yr chart Wink

And looking at something's eternal lifetime (so for both gold and Bitcoin and annualized), might not be considered cherry picking too. 
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 10:03:08 AM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's a fun fact

gold getting smacked again.  Bitcoin stable.

This year Gold is in positive and Bitcoin lost 50%

that's true when you cherry pick.

i can do that too; look at the 5 yr chart Wink
legendary
Activity: 1918
Merit: 1018
September 26, 2014, 10:01:00 AM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's a fun fact

gold getting smacked again.  Bitcoin stable.

This year Gold is in positive and Bitcoin lost 50%
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 10:00:22 AM
it's heroes like Carmen Segarra that make me want to buy Bitcoin like hell.
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 09:51:41 AM
ok, again, reality check.

are Bitcoiners, like goldbugs, irrationally skeptical of the incumbent fiat system?  i don't think so:

This sort of thing occurred often enough -- Fed regulators denying what had been said in meetings, Fed managers asking her to alter minutes of meetings after the fact -- that Segarra decided she needed to record what actually had been said. So she went to the Spy Store and bought a tiny tape recorder, then began to record her meetings at Goldman Sachs, until she was fired.

I don't want to spoil the revelations of "This American Life": It's far better to hear the actual sounds on the radio, as so much of the meaning of the piece is in the tones of the voices -- and, especially, in the breathtaking wussiness of the people at the Fed charged with regulating Goldman Sachs. But once you have listened to it -- as when you were faced with the newly unignorable truth of what actually happened to that NFL running back's fiancee in that elevator -- consider the following:

1. You sort of knew that the regulators were more or less controlled by the banks. Now you know.

2. The only reason you know is that one woman, Carmen Segarra, has been brave enough to fight the system. She has paid a great price to inform us all of the obvious. She has lost her job, undermined her career, and will no doubt also endure a lifetime of lawsuits and slander.


http://www.bloombergview.com/articles/2014-09-26/the-secret-goldman-sachs-tapes
legendary
Activity: 1736
Merit: 1006
September 26, 2014, 09:51:22 AM
Peter Schiff: Talking dollar collapse and looming black hole. (spoiler: he thinks Gold is the answer) (second spoiler: not one mention of bitcoin anywhere)

http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/

Nobody wants to jump on our sinking ship Undecided

You can call it that if you want.. I won't. I wouldn't mind if Schiff doesn't mention bitcoin - he was staunchly anti bitcoin all along.
He had made one or two concessions recently towards bitcoin but he is still a Goldbug pure and simple.

The takeaway point here is that QE and the dollar are fucked. At least he sees that!



Bitcoin is very dangerous to trade. Its sensible for Schiff not to recommend it. Smart money figures it out on its own anyway.
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 09:44:25 AM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's much smaller than it seems. The Danish government (as many north-western European governments) just subsidizes start-ups in general.

SEED Capital just doesn't invest in any 'ol startup.  and they're not going to invest in something the Danish gvt disapproves of. Unless we see an immediate retraction of this support and an explicit disapproval of Bitcoin association, this is a huge development as it represents the very first time a sovereign gvt has invested in a Bitcoin business.

given all the "mehs" i'm seeing around this news, i'd say we've hit a bottom in sentiment.

We have definitely reached a bottom in sentiment. Just see the reaction to PayPal being semi-positive about Bitcoin and tentatively incorporating it in its business. Who would have thought that just one year ago? In Bitcoin everything moves so fast. If the Paypal news would have been in November of last year it would have made a huge impact on Bitcoin price (short term of course).

given that gvt is the fundamental organizational unit that can legally enforce a clamp down on Bitcoin, the fact that a non US gvt has now financially invested into a Bitcoin startup for the first time in its history makes a global crackdown on Bitcoin much less likely.

there is enough positive fundamentals within Bitcoin that will divide gvt opinion, which is a very good thing.
legendary
Activity: 2324
Merit: 1125
September 26, 2014, 09:28:09 AM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's much smaller than it seems. The Danish government (as many north-western European governments) just subsidizes start-ups in general.

SEED Capital just doesn't invest in any 'ol startup.  and they're not going to invest in something the Danish gvt disapproves of. Unless we see an immediate retraction of this support and an explicit disapproval of Bitcoin association, this is a huge development as it represents the very first time a sovereign gvt has invested in a Bitcoin business.

given all the "mehs" i'm seeing around this news, i'd say we've hit a bottom in sentiment.

We have definitely reached a bottom in sentiment. Just see the reaction to PayPal being semi-positive about Bitcoin and tentatively incorporating it in its business. Who would have thought that just one year ago? In Bitcoin everything moves so fast. If the Paypal news would have been in November of last year it would have made a huge impact on Bitcoin price (short term of course).
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 09:21:41 AM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's much smaller than it seems. The Danish government (as many north-western European governments) just subsidizes start-ups in general.

SEED Capital just doesn't invest in any 'ol startup.  and they're not going to invest in something the Danish gvt disapproves of. Unless we see an immediate retraction of this support and an explicit disapproval of Bitcoin association, this is a huge development as it represents the very first time a sovereign gvt has invested in a Bitcoin business.

given all the "mehs" i'm seeing around this news, i'd say we've hit a bottom in sentiment.
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 09:16:04 AM
here's the Euro double short:

legendary
Activity: 2324
Merit: 1125
September 26, 2014, 09:14:13 AM
This is pretty huge.

The Danish gvt invested in Coinify:

SEED Capital is partly supported by Vækstfonden, the Danish government’s fund for creating growth in new companies. “This must be the first time government funds are invested in a Bitcoin company,” Olesen commented to CoinTelegraph.

http://cointelegraph.com/news/112607/coinify-seals-multi-million-external-funding-backed-by-danish-govt

It's much smaller than it seems. The Danish government (as many north-western European governments) just subsidizes start-ups in general.
legendary
Activity: 1764
Merit: 1002
September 26, 2014, 09:14:08 AM
the $DXY is breaking away from support and gathering momentum:

legendary
Activity: 1764
Merit: 1002
September 26, 2014, 08:59:28 AM
gold getting smacked again.  Bitcoin stable.
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