Significant press today - page 2. | Bitcointalksearch.org

Rygon

hero member

Activity: 520

Merit: 500

Quote from: Cluster2k on January 29, 2013, 01:56:23 AM

Quote from: Rygon on January 28, 2013, 09:29:00 PM

Quote from: BCB on January 28, 2013, 07:19:18 PM

Bitcoin is the new gold.

Bitcoin is backed by mathematics. What's gold backed by?

Gold's value is backed by around 4000 years of history. I like bitcoin and its potential, but let's not let hubris get out of hand.

I'm just poking some fun into the arbitrary "this currency is backed by X..." discussion. I enjoy asking goldbugs who are critical of a digital what they think their gold is "backed by." Hopefully it gets them thinking about what exactly makes currency valuable. I also stack PMs, so I can totally understand why it's tough to see the same level of value in a digital currency.

vssa

full member

Activity: 207

Merit: 100

Here is some more news from today:

http://www.zerohedge.com/news/2013-01-28/chart-day-ecb-responsible-second-coming-bitcoin

http://www.wealthwire.com/news/finance/4464-Bitcoins Pose Major Threat to Central Banks

http://maxkeiser.com/page/2/--For a primer on all things Bitcoin, of course, you will have had to watch Keiser Report, the ONLY international financial news programme to have covered it:

Herodes

hero member

Activity: 868

Merit: 1000

Quote from: Thralen on January 29, 2013, 01:36:57 AM

Quote from: Qoheleth on January 29, 2013, 12:45:56 AM

Quote from: Thralen on January 28, 2013, 11:48:51 PM

Honestly I've always considered Bitcoin to be backed by anything and everything that people are willing to sell for BTC. So that would make it backed by a basket of commodities (PMs, honey, coffee, etc...) and services. Sounds pretty sound to me.

That's a perfectly acceptable way of looking at things, provided you also consider USD to be backed by the US economy.

Actually I consider the USD to be backed by the world economy. The petro dollar is the only thing keeping the USD afloat (although it may be replaced by an agri dollar instead). If the rest of the world decides that the USD isn't worth having any more, then the USD is sunk. It'll be around for a while after that happens (not if, but when) but as for its value? It might be cheaper to use singles as toilet paper at that time.

Thralen

Relevant reading:
http://www.fin24.com/Economy/Brics-move-to-unseat-dollar-as-trade-currency-20120325

Cluster2k

legendary

Activity: 1692

Merit: 1018

Quote from: Rygon on January 28, 2013, 09:29:00 PM

Quote from: BCB on January 28, 2013, 07:19:18 PM

Bitcoin is the new gold.

Bitcoin is backed by mathematics. What's gold backed by?

Gold's value is backed by around 4000 years of history. I like bitcoin and its potential, but let's not let hubris get out of hand.

Thralen

full member

Activity: 123

Merit: 100

Quote from: Qoheleth on January 29, 2013, 12:45:56 AM

Quote from: Thralen on January 28, 2013, 11:48:51 PM

Honestly I've always considered Bitcoin to be backed by anything and everything that people are willing to sell for BTC. So that would make it backed by a basket of commodities (PMs, honey, coffee, etc...) and services. Sounds pretty sound to me.

That's a perfectly acceptable way of looking at things, provided you also consider USD to be backed by the US economy.

Actually I consider the USD to be backed by the world economy. The petro dollar is the only thing keeping the USD afloat (although it may be replaced by an agri dollar instead). If the rest of the world decides that the USD isn't worth having any more, then the USD is sunk. It'll be around for a while after that happens (not if, but when) but as for its value? It might be cheaper to use singles as toilet paper at that time.

Thralen

Qoheleth

legendary

Activity: 960

Merit: 1028

Spurn wild goose chases. Seek that which endures.

Quote from: Thralen on January 28, 2013, 11:48:51 PM

Honestly I've always considered Bitcoin to be backed by anything and everything that people are willing to sell for BTC. So that would make it backed by a basket of commodities (PMs, honey, coffee, etc...) and services. Sounds pretty sound to me.

That's a perfectly acceptable way of looking at things, provided you also consider USD to be backed by the US economy.

Thralen

full member

Activity: 123

Merit: 100

Honestly I've always considered Bitcoin to be backed by anything and everything that people are willing to sell for BTC. So that would make it backed by a basket of commodities (PMs, honey, coffee, etc...) and services. Sounds pretty sound to me.

Thralen

xxjs

sr. member

Activity: 280

Merit: 250

Quote from: nobbynobbynoob on January 28, 2013, 09:51:10 PM

Quote from: Rygon on January 28, 2013, 09:29:00 PM

Quote from: BCB on January 28, 2013, 07:19:18 PM

Bitcoin is the new gold.

Bitcoin is backed by mathematics. What's gold backed by?

Scarcity, its industrial uses and the fact that it looks nice?

The backing craze has to stop. Bitcoin is backed by nothing and has no intrinsic value - which is just about perfect for a money system.

b3b456de

newbie

Activity: 16

Merit: 0

I'm all for bitcoin gaining popularity, but what happens when the established institutions start to take notice? They're probably going to start a PR campaign against bitcoin, most likely overstating how easy it is for a user to lose their wallet. Heavily implying that your bitcoins could be stolen by some malicious hacker at any time, with no possible chance for a refund. Which, is a bit of bold faced lie.

Also the last time bitcoin got attention, there was a crash in the worth of bitcoin.

Just curious to see what people think will happen because of an company such as Bloomberg publishing a story like this.

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: Rygon on January 28, 2013, 09:29:00 PM

Quote from: BCB on January 28, 2013, 07:19:18 PM

Bitcoin is the new gold.

Bitcoin is backed by mathematics. What's gold backed by?

Scarcity, its industrial uses and the fact that it looks nice?

But Bitcoinworld has CASASCIUS for all that cosmetic stuff. Grin

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: paraipan on January 28, 2013, 07:48:52 PM

Quote from: BCB on January 28, 2013, 07:19:18 PM

Bitcoin is the new gold.

+1

Ha, maybe if bitcoin were heavy and hard to move and conceal large amounts of. Uh, and if it was easy to divide down to the microgram. Oh, and if you could back up gold.

Not a gold hater, but bitcoin >> gold.

Rygon

hero member

Activity: 520

Merit: 500

Quote from: BCB on January 28, 2013, 07:19:18 PM

Bitcoin is the new gold.

Bitcoin is backed by mathematics. What's gold backed by?

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: paraipan on January 28, 2013, 07:48:52 PM

Quote from: BCB on January 28, 2013, 07:19:18 PM

Bitcoin is the new gold.

+1

really?

paraipan

legendary

Activity: 924

Merit: 1004

Firstbits: 1pirata

Quote from: BCB on January 28, 2013, 07:19:18 PM

Bitcoin is the new gold.

+1

BCB

vip

Activity: 1078

Merit: 1002

BCJ

Bitcoin is the new gold.

The-Real-Link

hero member

Activity: 533

Merit: 500

Well, looked into BTC news today and those are definitely some great things to hear!

Looks like the the previous crash is mostly recovered and wiped out.

I keep asking what if BTC ever hits parity with Silver but this time obviously there's tons of awareness of BTC and demand, compared to the original bubble/crash.

Let's go to $20!

S3052

legendary

Activity: 2100

Merit: 1000

Quote from: evoorhees on January 28, 2013, 01:14:08 PM

Three good new pieces today. The Bloomberg piece is currently on the Bloomberg.com home page and is the "chart of the day"

http://www.bloomberg.com/news/2013-01-28/bitcoin-s-gains-may-fuel-central-bank-concerns-chart-of-the-day.html

just had a chat with Max Raskin, the author of this article and sent him his first BTC ever as donation :-)

EuroTrash

hero member

Activity: 728

Merit: 500

Quote from: cypherdoc on January 28, 2013, 01:53:46 PM

Quote from: mp420 on January 28, 2013, 01:52:10 PM

Damn it. I smell the beginnings of a bubble. And I kind of promised to myself I wouldn't get involved in day trading.

ok, look at it this way. this is just the fundamentals asserting themselves.

capsqrl

sr. member

Activity: 444

Merit: 250

More pressure: ZeroHedge covers the BTC/central banks story. http://www.zerohedge.com/news/2013-01-28/chart-day-ecb-responsible-second-coming-bitcoin

Ente

legendary

Activity: 2126

Merit: 1001

Quote from: Herodes on January 28, 2013, 03:10:50 PM

Anyone know what gambling site gambling911 referes to ?

It's not any of the sites that were taken down by the us govt. previously ? If so, that would be hell of a way to pay back

This would go oh-so beautifully with this:

Quote from: waspoza on January 28, 2013, 01:57:17 PM

Quote from: cypherdoc on January 28, 2013, 01:52:53 PM

can u be more specific? is hosting.co.uk one of the resellers that got banned by Paypal or are they a separate reseller that independently decided to reject paypal and accept Bitcoin?

They got banned and inserted bitpay afterwards from what i heard.

*grins*

Ente

Topic: Significant press today - page 2. (Read 5448 times)