I just cashed out my lot of Bitcoins for Gold. Here's why. - page 2.

notme

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Quote from: NewLiberty on June 08, 2013, 11:50:57 PM

Quote from: notme on June 08, 2013, 07:53:04 PM

Can you provide a source that demonstrates your claim that interest in bonds from entities other than the Fed is falling? I'm not saying it's incorrect, I've just not seen any evidence.

The data is here:
http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/tressect.txt
From the US Treasury.

The monthly variation has a fairly high beta compared to 12 month rolling, of course.

Your data is a year old and only considers government entities, excluding private investors both in and out of the US. I remain unconvinced, but I've got PMs, bitcoin, land, and marketable skills so I should be fine if I'm wrong.

kokojie

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Quote from: AliceWonder on June 10, 2013, 12:58:40 AM

Quote from: BitcoinBarrel on June 08, 2013, 05:30:41 PM

If Bitcoins and the internet were to collapse then Gold would be right there right it. Gold is shiny and all, but just as much perceived value as Bitcoin/money.

Gold has industrial uses. Bitcoin doesn't.

Bitcoin has universal use as currency.

bb999

member

Activity: 70

Merit: 10

Quote from: zemario on June 10, 2013, 06:29:27 PM

Quote from: Revelation 22:13 on June 09, 2013, 11:58:53 PM

http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Quote

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

Please stop. It was entertaining the first time.

If you're a troll, you're a rather good one.
Besides trolling, I don't understand what your goal could be, such statements can only lead to the the single conclusion that their author is stupid. Is that what you're trying to make clear? Honest question, no sarcasm nor offense intended.

Quote

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet

This is
1.physically impossible, and therefore,
2.stupid

Quote

Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

An hash function is not a cypher.

Trolling in bitcoin forums is pretty funny, there is no current mechanism for short selling bitcoins, so unless the poster just wants to trash BTC for the hell of it another possibility could be trying to drive it lower to buy in more for themselves. Either way it's pretty funny to observe.

lophie

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Activity: 924

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Unlimited Free Crypto

Quote from: Odalv on June 10, 2013, 06:57:38 PM

Quote from: zemario on June 10, 2013, 06:29:27 PM

Quote from: Revelation 22:13 on June 09, 2013, 11:58:53 PM

http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Quote

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

Please stop. It was entertaining the first time.

If you're a troll, you're a rather good one.
Besides trolling, I don't understand what your goal could be, such statements can only lead to the the single conclusion that their author is stupid. Is that what you're trying to make clear? Honest question, no sarcasm nor offense intended.

Quote

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet

This is
1.physically impossible, and therefore,
2.stupid

Quote

Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

An hash function is not a cypher.

I do not think ECDSA/SHA-256/RIPEMD-160 can be compromised. BUT I can imagine a random number generator (private key generator) used in Bitcoin-qt client could be (not so random ... :-) I did not study source, only speculation where to look for security hole) compromised -> every wallet then become deterministic wallet (~~easy to compute~~) ... :-) I believe, there are no errors in bitcoin-qt software, but what about "alt coins"

Odalv

legendary

Activity: 1414

Merit: 1000

Quote from: zemario on June 10, 2013, 06:29:27 PM

Quote from: Revelation 22:13 on June 09, 2013, 11:58:53 PM

http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Quote

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

Please stop. It was entertaining the first time.

If you're a troll, you're a rather good one.
Besides trolling, I don't understand what your goal could be, such statements can only lead to the the single conclusion that their author is stupid. Is that what you're trying to make clear? Honest question, no sarcasm nor offense intended.

Quote

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet

This is
1.physically impossible, and therefore,
2.stupid

Quote

Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

An hash function is not a cypher.

I do not think ECDSA/SHA-256/RIPEMD-160 can be compromised. BUT I can imagine a random number generator (private key generator) used in Bitcoin-qt client could be (not so random ... :-) I did not study source, only speculation where to look for security hole) compromised -> every wallet then become deterministic wallet (easy to compute) ... :-) I believe, there are no errors in bitcoin-qt software, but what about "alt coins"

aceking

full member

Activity: 229

Merit: 100

you will regret it , you cashed out too early

lophie

hero member

Activity: 924

Merit: 1001

Unlimited Free Crypto

Quote from: zemario on June 10, 2013, 06:29:27 PM

An hash function is not a cypher.

So did you Start to get why I facepalmed my face to oblivion because of this OP?

zemario

full member

Activity: 194

Merit: 100

Quote from: Revelation 22:13 on June 09, 2013, 11:58:53 PM

http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Quote

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

Please stop. It was entertaining the first time.

If you're a troll, you're a rather good one.
Besides trolling, I don't understand what your goal could be, such statements can only lead to the the single conclusion that their author is stupid. Is that what you're trying to make clear? Honest question, no sarcasm nor offense intended.

Quote

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet

This is
1.physically impossible, and therefore,
2.stupid

Quote

Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

An hash function is not a cypher.

conspirosphere.tk

legendary

Activity: 2352

Merit: 1064

Bitcoin is antisemitic

Quote from: lophie on June 10, 2013, 12:11:50 AM

Quote from: Revelation 22:13 on June 09, 2013, 11:58:53 PM

...
A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

I find much plausible that they can easily target the users' machines and steal the wallets of a great number of them if they wish without any special tech or know-how.

ex-trader

sr. member

Activity: 298

Merit: 250

Quote from: AliceWonder on June 10, 2013, 12:58:40 AM

Gold has industrial uses. Bitcoin doesn't.

And it looks nice when worn.....

60% of all gold mined is used in Jewellry.

http://www.gold.org/about_gold/story_of_gold/demand_and_supply/

CanadianGuy

full member

Activity: 196

Merit: 100

Quote from: AliceWonder on June 10, 2013, 12:58:40 AM

Quote from: BitcoinBarrel on June 08, 2013, 05:30:41 PM

If Bitcoins and the internet were to collapse then Gold would be right there right it. Gold is shiny and all, but just as much perceived value as Bitcoin/money.

Gold has industrial uses. Bitcoin doesn't.

I highly doubt that most investors who buy gold are planning to install high conductive wiring anytime soon. Most of them are in it because of speculative value for a return..

AliceWonder

full member

Activity: 168

Merit: 100

Quote from: BitcoinBarrel on June 08, 2013, 05:30:41 PM

If Bitcoins and the internet were to collapse then Gold would be right there right it. Gold is shiny and all, but just as much perceived value as Bitcoin/money.

Gold has industrial uses. Bitcoin doesn't.

lophie

hero member

Activity: 924

Merit: 1001

Unlimited Free Crypto

Quote from: Revelation 22:13 on June 09, 2013, 11:58:53 PM

http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Quote

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

You do know that the most important source of power is the image right? Not necessarily to actually have power.

Revelation 22:13

newbie

Activity: 33

Merit: 0

http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Quote

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

Face it. Bitcoin is already compromised. The NSA has endless resources to crack the cryptography of all communications on the planet. Do you really think they would just let people encrypt their communications freely by putting absolutely secure hash functions in the wild?

I will say it one last time: Bitcoin is a ticking time bomb. It is going to blow up any day now. Feel free to hold it for awhile but don't be the last guy holding it.

Frozenlock

sr. member

Activity: 434

Merit: 250

Quote from: Gabi on June 09, 2013, 02:09:58 PM

Selling now is like people who sold at 2$ after the 2011 bubble that peaked at 32$

Lol!

No.

Gabi

legendary

Activity: 1148

Merit: 1008

If you want to walk on water, get out of the boat

Selling now is like people who sold at 2$ after the 2011 bubble that peaked at 32$

When bitcoin went to 2$ they were like "omg bitcoin going to 0, sell sell sell"

Instead, it was the perfect time to buy, and then after two years, from 2 to 266.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: notme on June 08, 2013, 07:53:04 PM

Quote from: Elwar on June 08, 2013, 07:46:43 PM

Quote from: notme on June 08, 2013, 07:19:47 PM

Quote from: Elwar on June 08, 2013, 06:39:05 PM

At least you are not buying dollars with your bitcoins.

My prediction is that by August the dollar will be half the value it is today. Though it may take some time for that value drop to be noticed as it spreads throughout the economy. But it will be felt.

How is that going to happen with a long term trend reversal forming on all major stock indices? When stocks go down, the dollar rises.

What could possibly trigger hyperinflation at this point in time?

The Federal Reserve is currently buying 73% of Treasury Notes, which are used to print money for the Federal Reserve who turns around and buys 74% of Treasury Notes which are used to print money for the Federal Reserve who turns around and buys 75% of Treasury Notes...etc...

It is estimated that at the current rate, the Federal Reserve will be buying 100% of Treasury Notes by mid July.

What this means is that no other country is willing to buy our debt. The only way our debt can be funded at that point is from printing money. Printing enough money to fund our government means the value of our currency will go down by that much on a daily basis.

It will not be pretty.

Even if the Federal Reserve stops buying our Treasury Notes...we only have 27% of the customers we used to have. In order to entice the other 73% into buying we have to sell cheap. Or jack up the interest paid on our debt.

Can you provide a source that demonstrates your claim that interest in bonds from entities other than the Fed is falling? I'm not saying it's incorrect, I've just not seen any evidence.

Here is an article about it...I believe the source requires a paid subscription.
http://lewrockwell.com/sardi/sardi261.html

BitCoinNewGuy

member

Activity: 84

Merit: 10

'That Guy'

I cashed out some BitCoin for Gold too yesterday with a friend, I just hope Coinabul comes through...

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

OP that isn't a bad move, but....

the fundamentals have not changed.

GOLD SUPPLY > BITCOIN SUPPLY

Bitcoin will inevitably hit parity and surpass the price of gold as there is less bitcoins for fiat to chase than there is gold.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: Revelation 22:13 on June 08, 2013, 02:39:42 PM

trouble is brewing. 'nuff said.

- The NSA has full control of Bitcoin through holes in SHA-256 and DSA that the mass of the public has yet to find. The whole blockchain might find itself worthless within the decade.

Awesome, we have someone on the inside! So, which division of the NSA do you work for? It must be a leadership position to know what you know! Tell us how you know.

... "History" channel?

Topic: I just cashed out my lot of Bitcoins for Gold. Here's why. - page 2. (Read 6277 times)