Gold collapsing. Bitcoin UP. - page 974.

cypherdoc

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Quote from: Peter R on September 05, 2014, 07:46:36 PM

Quote from: sidhujag on September 05, 2014, 07:41:42 PM

I thought the exchange downtown had some reps there to help you with the wallets etc? Kind of like bank clerks.

There's Bitcoiniacs at Waves, and the Bitcoin Co-op guys in Gastown. I suppose those are options too.

But this individual is mostly interested in price speculation as part of a diversified investment portfolio. I'm not sure it's important for him to learn about bitcoin wallet security at this point in time. Perhaps that can wait.

that doesn't sound too wise. Bitcoin is meant to encourage personal responsibility. plus it will make him learn and appreciate what Bitcoin is all about.

speculation on the price is somewhat dependent on one being able to hold onto one's coins w/o getting scammed.

Peter R

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Quote from: sidhujag on September 05, 2014, 07:41:42 PM

I thought the exchange downtown had some reps there to help you with the wallets etc? Kind of like bank clerks.

There's Bitcoiniacs at Waves, and the Bitcoin Co-op guys in Gastown. I suppose those are options too.

But this individual is mostly interested in price speculation as part of a diversified investment portfolio. I'm not sure it's important for him to learn about bitcoin wallet security at this point in time. Perhaps that can wait.

sidhujag

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Quote from: Peter R on September 05, 2014, 07:28:19 PM

Look at the text I just received from a good friend. He's a young dentist in Vancouver.

Now the question is "how do I answer him?" [This is always a problem for me]. If I recommend cavirtex, then he must persevere through the time-consuming KYC/AML procedure, link his bank account, and then still wait a week for the first transfer to clear .... Telling him about 2FA on top of this will be too much [I wish cavirtex disabled bitcoin withdrawals by default unless 2FA was enabled and verified].

I could send him over to the bitcoin ATM which is fast and easy [although unsuitable for large purchases], but then I would feel personally responsible to set him up properly with a wallet on his phone, a back-up of the seed, and a cold-storage system.

I wish we had an exchange-tradeable product like GLD but with bitcoin as the underlying…

I thought the exchange downtown had some reps there to help you with the wallets etc? Kind of like bank clerks.

Peter R

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Quote from: adamstgBit on September 05, 2014, 07:35:50 PM

you can trade GLD without doin KYC/AML ?

Of course not. But many people are already setup with online or full-service brokerages. So it's just a phone call or a few clicks of the mouse to purchase an ETF.

Quote

you could sell him some yourself, but honestly I recommend the full cavirtex experience, sure it takes a few days to get the paperwork cleared, but once you're set... its well worth the pain.

This is how I'm leaning too. It's a bit of a process, but it's the right way to do it.

adamstgBit

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Trusted Bitcoiner

Quote from: Peter R on September 05, 2014, 07:28:19 PM

Look at the text I just received from a good friend. He's a young dentist in Vancouver.

Now the question is "how do I answer him?" [This is always a problem for me]. If I recommend cavirtex, then he must persevere through the time-consuming KYC/AML procedure, link his bank account, and then still wait a week for the first transfer to clear .... Telling him about 2FA on top of this will be too much [I wish cavirtex disabled bitcoin withdrawals by default unless 2FA was enabled and verified].

I could send him over to the bitcoin ATM which is fast and easy [although unsuitable for large purchases], but then I would feel personally responsible to set him up properly with a wallet on his phone, a back-up of the seed, and a cold-storage system.

I wish we had an exchange-tradeable product like GLD but with bitcoin as the underlying…

you can trade GLD without doin KYC/AML ?

you could sell him some yourself, but honestly I recommend the full cavirtex experience, sure it takes a few days to get the paperwork cleared, but once you're set... its well worth the pain.

and, its really not that hard... poeple just need a swift kick in the ass sometimes.

cypherdoc

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Quote from: tvbcof on September 05, 2014, 07:12:34 PM

Gold up, Cypherdoc collapsing.

lol. tv, you're like a little dog, constantly nipping at my heels.

Peter R

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Look at the text I just received from a good friend. He's a young dentist in Vancouver.

Now the question is "how do I answer him?" [This is always a problem for me]. If I recommend cavirtex, then he must persevere through the time-consuming KYC/AML procedure, link his bank account, and then still wait a week for the first transfer to clear .... Telling him about 2FA on top of this will be too much [I wish cavirtex disabled bitcoin withdrawals by default unless 2FA was enabled and verified].

I could send him over to the bitcoin ATM which is fast and easy [although unsuitable for large purchases], but then I would feel personally responsible to set him up properly with a wallet on his phone, a back-up of the seed, and a cold-storage system.

I wish we had an exchange-tradeable product like GLD but with bitcoin as the underlying…

cypherdoc

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nice summary by Chris Whalen on Japan's deflation and why it's still dangerous to be shorting JGB's:

how is it that Japan has not already defaulted on its debt, a la Argentina? The short answer is that Japan funds its public-sector shortfalls internally, while Argentina is dependent upon foreign capital inflows to finance its fiscal dissolution.

With respect to the issue of public debt and deficits, Kubarych argues that the Japanese would rather own bonds with low coupons than pay taxes. He says that the average Japanese distrusts government officials and prefers to see their money in government bonds than pay higher taxes to subsidize socialist agendas.

Global speculators such as George Soros and Kyle Bass have been predicting a fiscal and economic apocalypse for Japan for years. Bass, who made a killing by betting against the subprime bubble, has been wrong on Japan since at least 2010. Japan’s economy is a mess, no question, but Bass and other speculators err in assessing the country’s probability of default as though Japan were a private company.

http://nationalinterest.org/feature/japans-economy-headed-collapse-11217?page=2

notice how it's very conceivable for US citizens to be force fed UST's in the future and learn to like it.

tvbcof

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Gold up, Cypherdoc collapsing.

Trader Steve

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"How do you eat an elephant? One bit at a time..."

Quote from: Chalkbot on September 05, 2014, 05:01:07 PM

So, if we ignore for a minute, the properties of gold that make it less attractive than bitcoin, and purely focus on the limited nature of each one; Why isn't gold acting as a store of value in a QE economy? Why is it not guaranteed profit to take out a huge low interest loan, and buy gold?

If there is an answer to that, why doesn't it apply to bitcoin?

Gold truly is the barbarous relic. It can be shorted to hell with naked contracts (big banks can sell what they don't own) and it is very inefficient in the digital age. How can it compete with instant and cheap value transfers like bitcoin (for which naked short selling does not currently exist)?

As we've said before, bitcoin is assuming the position historically held by gold. Bitcoin is Gold's Black Swan. Just remember to take possession of your private keys.

cypherdoc

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Quote from: tabnloz on September 05, 2014, 04:43:23 PM

Published on Goldcore.com blog

Blockchain promises to be as disruptive a technology as the internet....

http://www.goldcore.com/goldcore_blog/Blockchain_Promises_To_Be_As_Disruptive_A_Technology_As_The_Internet

The goldbugs conversion continues, and Cypherdocs theory looks increasingly accurate.

yeah, for the short term both have been moving down together. watch closely for when that relationship changes. i think gold and silver are about to go off the cliff while Bitcoin is coiling in anticipation for the next ramp.

Chalkbot

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So, if we ignore for a minute, the properties of gold that make it less attractive than bitcoin, and purely focus on the limited nature of each one; Why isn't gold acting as a store of value in a QE economy? Why is it not guaranteed profit to take out a huge low interest loan, and buy gold?

If there is an answer to that, why doesn't it apply to bitcoin?

tabnloz

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Published on Goldcore.com blog

Blockchain promises to be as disruptive a technology as the internet....

http://www.goldcore.com/goldcore_blog/Blockchain_Promises_To_Be_As_Disruptive_A_Technology_As_The_Internet

The goldbugs conversion continues, and Cypherdocs theory looks increasingly accurate.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: cypherdoc on September 05, 2014, 10:11:08 AM

hey Smoothie,

you need to check this out for all of us when you get a chance:

http://bitcoinist.net/hawaii-gets-its-first-bitcoin-atm/

If I ever end up visiting Oahu I will. Currently I reside on the big island.

Volcanic activity going on

hopefully BTC has some of its own volcanic activity too!

hdbuck

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Just thought i'd share this little anecdote about gold:

So this friend of mine went to see his banker @LCFRotschild to talk about his contracts there, wanting to diversify his assets in gold (didn't even try to bring bitcoin on the table, and wouldn't go through with such channels anyway).

The banker started wondering why, and then started chitchatting about the latest new regarding the ECB's 0,05% interest rate (lulz) and bragged about an upcoming euroQE in 2015 (more lulz), problablablably trying to somehow reassure my friend.

My friend then answered: "See?! this is exactly why i want gold. The euro is worthless!" ^^

So after a dialogue of the deaf between the two of them, the banker concludes: "alright i will add a special note "gold" in your contract."

My friend then told him: "no, i want gold bars, not some paper-gold in your system."

And when the banker asked why on earth would he want god damn gold bars, my friend swiftly answered the ultimate punch line ihmo: "to make door wedges!"

Grin

cypherdoc

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this should have a positive impact:

China’s effect on bitcoin prices and the network itself should not be underestimated. The nation is home to some of the biggest bitcoin exchanges on the planet as well as a number of industrial-scale mining operations.

http://www.coindesk.com/yuan-trades-now-make-70-bitcoin-volume/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29

Trader Steve

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"How do you eat an elephant? One bit at a time..."

Quote from: cypherdoc on September 05, 2014, 09:14:37 AM

Quote from: zeetubes on September 05, 2014, 07:58:39 AM

Mysterious Fake Cellphone Towers Are Intercepting Calls All Over The US.

"Seventeen fake cellphone towers were discovered across the U.S. last week, according to a report in Popular Science."

http://www.businessinsider.com/mysterious-fake-cellphone-towers-intercept-calls-2014-9#ixzz3CV5AqAz2

I am really interested in one of these phones. This or Silent Circle. Anyone with any experience?

Checkout RedPhone and TextSecure by Whisper Systems. All open source:

http://whispersystems.org

cypherdoc

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rising stock mkt and rising USD; toxic brew for gold and silver.

their only chance is that BOTH of those go down, including Bitcoin.

cypherdoc

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silver criticality incoming.

first critical breach is $19 for psychological reasons. then 18.70, finally 18.17.

cypherdoc

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pm space crumbling

Topic: Gold collapsing. Bitcoin UP. - page 974. (Read 2032272 times)