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Bitcoin Bonanza
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Five years ago it was worth $0. Then, a month and a half ago it went to $150 a piece. On Monday it shot to over $600. On Tuesday, the value rose to over $900, meaning a 6, 445%-increase in value since the start of the year. It plummeted to $531 at midday today and then recovered reaching $793 while being traded on the Asian markets. Bitcoin: it’s the bonanza of the century.
Volatility and hikes are based on nothing except speculation and the desire to make a mint, thinking that you can predict what the markets are going to do. But, will that Bitcoin volatility lead to a bubble? Or is it bringing in a new era of a new type of currency that people are willing to use and that merchants are now being forced to accept? It might never become a legitimate currency in the future, but that’s hardly important when you can make a profit from it. Of course central banks are at risk from the use of virtual currencies as it would mean that they would have little control over what we spend and how transactions are carried out. Is Bitcoin the death of our central banks?
Some might say that Bitcoin is associated with crime and is an easy way for illicit transactions to take place. Tell me one currency in the world that isn’t laundered these days? Tell me one place in the world where there is a currency that is clean? Pure snow-white virgin money doesn’t and never has existed. Just because it’s associated with crime doesn’t mean it’s not good for the rest of the world. All of the currencies of the world are associated with crime somehow. Perhaps after all the fall of the Dollar, the death of the greenback will not be because the Chinese have taken the world over and imposed the Renminbi as the reserve currency on the world. Perhaps it will be the Bitcoin that takes over the world economically today.
- When Bitcoin started out in 2009 after being founded by Satoshi Nakamoto (or under his real name of Gavin Andresen) one Bitcoin was worth $0.30.
- It rose to $32, but then fell to $2. There are some 12 million Bitcoins in circulation today and the number of Bitcoins issued every four years is reduced by 50% (and will be until that number reaches a circulation level of 21 million Bitcoins).
- The currency is already accepted on some of the world’s most highly-ranked internet sites today:
- WordPress.com ranked 22 in the world, offering custom-designed software and templates. They have accepted Bitcoins since November 2012.
- The Pirate Bay, ranked 108 in the world which started accepting Bitcoins in April 2013 for their music and move-software directory.
- Reddit, which ranks 117 in the world and accepted Bitcoins for the first time in February 2013 for the social and entertainment network site.
There are plenty more and they will be increasing in the future, simply because it’s the people that have decided that they are willing and ready to use Bitcoins as a means of exchange. Have the people started the demise of the Dollar and all other currencies? Are we living a moment in history that we shall look back upon in years to come as we wave goodbye to the hegemonic control of the politically-aided and biased reserve currency that is the greenback and that all other currencies are vying to overtake? Will they all lose out, because we have decided for it to happen? That will certainly wipe the smile off the faces of some at the top of the hill.
Gaining legitimacy is essential for the Bitcoin to be a valued and a valuable means of exchange. The difference between Bitcoin and any other currency that is controlled by a government is that Bitcoins have become accepted because the market has decided that they are. People want them and merchants accept them. It is not a political currency but quasi-commodity money. The number of transactions has suddenly increased since the start of November and it has now reached dizzy heights around the world. Even governments are starting to recognize the existence and the validity of Bitcoins today. Germany in August 2013 decided to recognize the virtual money as a real currency, legally and fiscally approving it is valid.
When Andresen spoke of begging Julian Assange not to use Bitcoin back in 2010 as a means of getting around the normal method of financial transactions and thus finding a route to funding WikiLeaks, he said ‘it will destroy us’ adding that they were too small a company to be able to deal with it. Although, with hindsight the ‘you-will-destroy-us’- statement probably had little to do with the nascent company not being able to cope with the financial trading of the currency that had been invented, but the fact that Bitcoin would have been closed down and nipped in the bud before it had got off to a start. Now we can see why Bitcoin wanted to steer away from that can of worms. It had greater things in its sights than WikiLeaks.
It’s a rare thing to have the opportunity today to choose which currency we want to use. Maybe this time the choice will be the right one. Maybe the central banks, the ones that have done the damage in the past and are continuing to do so today will have their power taken away from them.
Climbing the greasy pole that politics has become is nothing to do with who you are and what you say. It has everything to do with where you come from and what you have in the bank account to back you up.
Originally posted: Bitcoin Bonanza
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How to take over BitCoin
How to Destroy Bitcoin
How to create your own BitCoins without mining.
It's all here, pseudo-code included ... Your welcome
http://www.nocash.info.ro/wp-content/uploads/2013/11/Cornell-University-...
Probably the biggest MYTH of all is that BIT-COIN is 'MATH' no its not, its a poorly written hunk of software that has a terrible assumption, and that is that the majority users are honest, and of course in the real world they are NOT.
- People of EARTH -
After doing a lot of diligent research about Bitcoin and learning about how they are made and who makes them and how they can be used, etc... I realize a few things...
It is very easy to send money to get BtC.
It is hard to know what price you can sell the BtC at or Buy it at.
It is hard from what I hear to get your money out back into cash though I hear if you have a good long standing account, no problems...
BtC are made by solving math problems (increasingly harder) They are made by solving programs *(running high end graphics cards or specialty cards through computers some at home some in warehouses)
Eastern suppliers create these electronics so they probably have huge warehouses of them running on cheap power to solve these BtC arithmatic.
Price Moves are parabolic
Cacaphony of people talking
Death threats to those that were elected (*albiet illegally sometimes) into office - nonetheless they hold power
Has potential to be 'world currency'
Video card suppliers making a killing
Electricity companies making a killing
Block Chains are well encrypted - you are paying for a uniquely solved equation that cannot be duplicated or hijacked?
US government is legitimizing it
Processing....
BtC will be a useful tool for those that adopt. Those that do not adopt it will either pay a penalty for keeping their currency in USD or non-BtC currency - or - they will avoid a massive ponzi to steal money from 85% of those invested past say the $100 threshold.
Prediction....
BtC will run algo until there is not enough new money to step in - then - cycle down to a very small amount in order to drain the energy from those that invested over the threshold $x and also recover increasing money from the electronics sold and energy consumed to create the last of the bit coins... it could be a 20 year cycle where BtC gets close to taking over but then is taken down...
accomplishes several things - infiltrate crypto anarchists, drain plebe extra money and greedy investors, set up real crypto currency to be used in the future based on all research conducted through BtC
BtC is a project designed to attract crypto anarchists and those that challenge the conventional money masters - drain the late adopters and torment, kill, or recruit the best or most adaptable for the real crypto currency which will be called Dollar - it will be digital and not to far from what we have now.
Biggest achilles heal for BtC is their yearning for real world companies to accept BtC. When the biggest retailers start to accept it as payment, there may be a chance - a windown but it won't be long and it may not last and again think experimental - crypto anarch and greedy investors think they are immune - try losing $150,000 or something like that on an investment and you'll think twice to hate the dollar.
We are trained to value everything in Dollars - and dollars even the debt can be managed through rates - they will save cash - cash and dollars are king and always will be. Gold is a holder of value and right now it's going down because people are attracted to other things instead of building their bullion portfolio but that means it's a good time to BUY PM - long live PM and even fiat - BtC is a game to scary to play.
There are many things your missing, one point is that over 90% of the BITCOIN's are not in 'trade', and have never been in trade.
Whenever #1 decides to unload even a small minority of his 'stash' this bitch is going go down and hard.
The fluid BTC is less than 5% of the actual hoard, see the Shamir paper, its all spelled out.
Quantitative Analysis of the Full Bitcoin
Transaction Graph
Dorit Ron and Adi Shamir
Department of Computer Science and Applied Mathematics,
The Weizmann Institute of Science, Israel
{dorit.ron,adi.shamir}@weizmann.ac.il
45% of all 'bitcoin' exchanges to date have stole their customers money with no-recourse, ... think about that ...
It is possible to steal bitcoins, and documented theft has occurred on numerous occasions. At other times, Bitcoin exchanges have shut down, taking their clients' bitcoins with them. A Wired study showed that 45 percent of Bitcoin exchanges end up closing.[66]
On 19 June 2011, a security breach of the Mt. Gox Bitcoin exchange caused the nominal price of a bitcoin to fraudulently drop to one cent on the Mt. Gox exchange, after a hacker allegedly used credentials from a Mt. Gox auditor's compromised computer illegally to transfer a large number of bitcoins to himself. They used the exchange's software to sell them all nominally, creating a massive "ask" order at any price. Within minutes the price corrected to its correct user-traded value.[67][68][69][70][71][72] Accounts with the equivalent of more than US$8,750,000 were affected.[69]
In July 2011, the operator of Bitomat, the third largest Bitcoin exchange, announced that he lost access to his wallet.dat file with about 17,000 bitcoins (roughly equivalent to US$220,000 at that time). He announced that he would sell the service for the missing amount, aiming to use funds from the sale to refund his customers.[73]
In August 2011, MyBitcoin, a now defunct Bitcoin transaction processor, declared that it was hacked, which resulted in it being shut down, with paying 49% on customer deposits, leaving more than 78,000 bitcoins (roughly equivalent to US$800,000 at that time) unaccounted for.[74][75]
In early August 2012, a lawsuit was filed in San Francisco court against Bitcoinica — a Bitcoin trading venue — claiming about US$460,000 from the company. Bitcoinica was hacked twice in 2012, which led to allegations of neglecting the safety of customers' money and cheating them out of withdrawal requests.[76][77]
In late August 2012, an operation titled Bitcoin Savings and Trust was shut down by the owner, allegedly leaving around US$5.6 million in Bitcoin-based debts; this led to allegations of the operation being a Ponzi scheme.[78][79][80][81] In September 2012, it was reported that the U.S. Securities and Exchange Commission had started an investigation on the case.[82]
In September 2012, Bitfloor, a Bitcoin exchange, also reported being hacked, with 24,000 bitcoins (roughly equivalent to US$250,000) stolen. As a result, Bitfloor suspended operations.[83][84] The same month, Bitfloor resumed operations, with its founder saying that he reported the theft to FBI, and that he is planning to repay the victims, though the time frame for such repayment is unclear.[85]
On 3 April 2013, Instawallet, a web-based wallet provider, was hacked,[86] resulting in the theft of over 35,000 bitcoins.[87] With a price of US$129.90 per bitcoin at the time, or nearly $4.6 million in total, Instawallet suspended operations.
On 11 August 2013, the Bitcoin Foundation announced that a bug in a pseudorandom number generator within the Android operating system had been exploited to steal from users' wallets, the vulnerability affecting wallets generated by any Android app; fixes were provided 13 August 2013.[88]
A Bitcoin bank, operated from Australia but stored on servers in the USA, was hacked on 23 and 26 October 2013, with a loss of 4100 bitcoins, or over A$1 million.[89]
In Hong Kong a Bitcoin trading platform owned by Global Bond Limited (GBL) vanishes with 30 million yuan (US$5 million) from 500 investors on 26th October 2013.[90]
LOL, bitcoin. litecoin. shimerhamercoin. billcoin, wtf.
Whats a bitcoin worth? Whatever the next person is willing to pay. Period. And with only 12 MIL of them, THAT is a major problem. Lets just say bitcoin is listed at $40,000 per 'coin'. If I want to sell you a 40K car, I will accept 1 bitcoin, AFTER IT IS CONVERTED TO USD. This is the same as the problem with gold. I dont give a F what the computer says its worth. Your not getting anything, from anyone, until its converted into whatever fiat they choose to accept.
If someone, anywhere on earth accepts a single bitcoin for a $500 item, then bitcoin is worth 500. If someone anywhere accepts a bitcoin for $2.00 or $500,000 then that, is what it is 'worth' What a manipulators joke.
Please read this for your own sake, or us at least if you're going to post about it anymore.
https://en.bitcoin.it/wiki/FAQ
This is 100% biased pro btc crap.
If you going to read, then read the truth at wikipedia about bitcoin where you will learn all sides of the argument.
http://en.wikipedia.org/wiki/Bitcoin
The en.bitcoin.it site is just a PR positive spin by the whores pimping BTC to morons. It is designed to look like a 'wiki', but its biased towards the BTC fraud, essentially this is a cover argument, e.g. 'talking points' for BTC whores and wannabes.
100% biased pro BTC crap?
Bitcoin fraud? Prove it.
Maybe if someone doesn't even know BTC is divisible to 8 decimal places, they might only want the basics?
Given your "thoughts" in general, I'm not surprised at your expert assessment though. My condolences.
http://en.wikipedia.org/wiki/Bitcoin ... GOOD SCIENCE
In the scientific world we would call wikipedia as 'refereed science' [ offering opinions from all sides by experts ], while your site bitcoin.it, we would call one sided propaganda by a k-mart salesman.
You decide which site to reference, but then if your money or life is on the line, you'll use your brain and not your emotion, or 'talking points'.
I don't dislike BTC, I just find it fascinating that all the lemmings are throwing themselves off the cliff, and trying to take others with them, ... this is what we would call 'insanity' in the clincal world.
https://en.bitcoin.it/wiki/FAQ ... One Sided Cult 'talking points', not unlike 'scientology' or any other crazy cult in history
http://en.wikipedia.org/wiki/Bitcoin
The wikipedia link has 100's of references to the fraud, but then you only read one side of the story, ... you obvsiouly are like the little bird who keeps his head in the sand so that he only see's the the BTC approved version of the story.
More people hate bitcoin.org than love them, you got a major problem, because BTC is only a confidence game, and the only 'tangible' they have is 'trust', and given that your like refuses to address the fraud, ... is why you will fail.
Wow, six weeks in and look at the big bad keyboard warrior insulting people they don't know from Adam. If being offensive and making a lot of wild assumptions with delusional, extremist overtones is your thing then have at it. I was just trying to be helpful and didn't intend on hiding the shady side of Bitcoin or spreading propaganda as you assert. I don't know how any times I have to say it, it's obvious the size of your ego is only eclipsed by your boundless wisdom and intelligence.
Anyone who knows about Bitcoin knows the dark side. Where in the link I posted does it encourage or promote fraud? I never denied there was fraudulent activity in the space. What do you want me to do about it genius? Stop being involved, sue, rant incessantly with a defined agenda like yourself on some blog?
I've already won and continue to do very well with zero (that's "0" for those in the scientific world) risk.
It'll be interesting for at least one of us to revisit this in a year or so.
Best wishes to you too.
...
‘Assassination market’: Bernanke tops ‘kill-list’ in crowd-sourced bitcoin fundraiser for wannabe hitmen Published time: November 19, 2013 19:50A new site allows anyone to set bounties on the death of any individual and anonymously pay a hit man who fulfills the contract with digital currency bitcoin. Barack Obama, Ben Bernanke and the prime minister of Finland are already on the hit list.
“Killing is in most cases wrong, yes. However, as this is an inevitable direction in the technological evolution, I would rather see it in the hands of me than somebody else. By providing it cheaply and accurately I hope that more immoral alternatives won't be profitable or trusted enough. This should primarily be a tool for retribution,” says the text of the Assassination Market, written by a man using the pseudonym Kuwabatake Sanjuro.
Then there is the 'bit coin heist' list which is now so fucking long, its ridiculous, 100's of millions of real USD's stolen, and nobody ever caught. This is the ultimate scam to rob people of their life savings. 10's of 1,000's of people robbed, and the MSM completely fucking ignores the story, including ZH
*** https://bitcointalk.org/index.php?topic=83794.0 ***
List of Bitcoin Heists Following is the result of research on prior Bitcoin-related thefts. I have provided dates and times as I know them. The list is designed to be as accurate and informative as possible, and most of it is well-referenced. For disputed thefts, I have applied best judgement and included the ones that were most publicly accepted. Because of the volatile nature of Bitcoin's exchange price, I have denominated heist estimates in BTC.
dear mr. pivot farm. i usually like your blogs. but - please read 'a short history of financial euphoria' by j.k. galbraith. it's really very simple. when suddenly lots of money was being made where lots of money didn't exist before - bubble. it's a bubble. you can hope all you want, and you can certainly become very rich if you get out at the right time. the ponzi was never better. backed by absolutley nothing. stay in until the end and come back and talk to me.
i wish i could get in, don't doubt me. but i don't have the nerve. the scam i know.
enjoy the run.
CLARIFICATION.
BTC is not a ponzi, a ponzi is when someone promises a big interest rate, and then uses new money to pay off the old investors ( madoff was a ponzi ).
BTC is a chain-letter a pyramid scam, where early folk in the chain-letter get all the money, and those coming late to the party are left hold the bag of shit.
Even the founder of BTC 'satoshi' defines 'coin' as a high tech 'chain of signatures',... where the early bird gets the worm. This whole thing is a fraud from design.
SHARIM the inventor of public-key cryptography personally analyzed BTC's and found that 90% of them are controlled by a few people.
No fucking doubt that in history BTC will go down as tulip-mania, and south-sea bubble, boys go read 'grand popular delusions', and don't forget that team-zh was the biggest pimps in this fraud of them all.
Wow, someone can figure out who I am using a multiple digit public key that I generated on my machine? What a technical tour du force. Only if I attach my real name to the key or I use it to mail something to my house.
Here's a test for the S in RSA: 1iHh732.
Who am I and where am I? (It has to be more specific than somewhere on earth and I'm certainly not my moniker)
Hope metalheads enjoyed further loss of purchasing power with "real money" today.
Carlin, Wikileaks had much trouble being shut out by the banking system. They've had zero trouble accepting BTC donations. Their current publicly known stash of BTC is valued at $703,642.80
You didn't even read this story did you, your just a BOT that posts positive spin on BTC's.
The OP say's that BTC told wikileaks to go fuck itself when VISA shut them down, ... cuz GAVIN had bigger plans.
My fucking gawd, does it ever get boring eating this BTC shit? Or do you wear nose-plugs and just keep hoping the value goes up?
"You didn't even read this story did you"
What story? You just posted a bunch of gibberish. Are you referring to Satoshi Nakamoto's writings?:
“It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us.”
COIN VALIDATION to Help US/NSA/CIA law enforcement steal your money, and they get a percentage, ... welcome to the new world of Bitcoin, ... no wonder goldman-sacks and Republican Party ( ron paul nerds ) love BTC ...
http://www.forbes.com/sites/kashmirhill/2013/11/13/sanitizing-bitcoin-co...
Republican Party, US-DHS/HS all love BTC, and now they have a company that will help them steal peoples money with NO oversight.
Company Wants To Track 'Clean' Bitcoin Accounts
Alex Waters, Matt Mellon, and Yifu Guo, of Coin Validation
You can add Matt Mellon, descendant of the famed banking family, to the ranks of the Bitcoin believers. The 49-year-old former chairman for the New York Republican Party’s Finance Committee decided in April that he wanted to get in on the Bitcoin frenzy and called the Winklevoss twins for advice
I encourage all commentors, but especially the negative ones who don't understand the design of cyber-currency to do some reading outside this site-espeically the orignal articles describing its principles. This is a competitive currency which has all the characteristics of all sound money-built in inflation protection, anonimity, no doulbe spending possible, decentralized issuance, transparent and public transaction verification. The only question to ask is will bitcoin become widely accepted for real goods and services? If so, it will have satisfied its experimental purpose. If, only hoarding and speculation occurs with no real tranactions it will die off-just as will other fiat currencies when trust is lost. But, it will still be a beautiful experiment in decentralized, competitive currency. With any medium of exchange, its all about trust.
If you can do any serious reading of this cryto-currency system and still conclude its worthless, you're likely low mentality with very limited analytical abilities. Bitcoin is not well suited to low mentality types. It is complex and elegant in structure. As elegent as elliptical curve encryption and public/private key crytography which underpin its constuction.
This post just put's out positives on BTC, never is there any honest discussion of the negative.
It's like nobody can even for a moment admit the emperor has no clothes, ... its all like 'beauty', 'orginal'.
Nope the emperor is butt naked and ugly as hell, whether you call him gavin or pivotfarm it be the same.
Yep, sums it all up, rather than helping wikileaks when they needed help gavin/pivotfarm said 'nope, we don't want the empire to shut us down until our mission is accomplished',
Well the mission is almost accomplished, never in all of human history have so many people been fleeced, for so zero-return.
If you must play virtual currency, then by all means play lite-coin, for fun, and watch bit-coin at a distance.
We have asked rhetorically over & over here, why in the fuck are zero-heads enamored? With BTC? Why do they ignore reality of fraud?
The entire BTC smells an awful lot like DOT-COM, Y2K all rolled into one, where you once again have the youngsters saying "OLD folks don't understand this is new", ... no its not new chain-letters and pyramid scams have been around forever.
tulips. south florida real estate. or - when it all pans out and bernake stops printing, mcmansions for boogie-down wonderland hopeful nba stars that can borrow 2 million with nothing, arizona and other places real estate where no real water exists.
well intangibles are still not tangibles
what about the story last night about bernanke's assasination being the highest value in the world on the BTC hitlist? Why doesn't ZH not mention that story in the OP? That's a tangible, and HIT (murder) on bernanke is very fucking tangible and illegal to pay/order a 'hit'.
It's very funny how here on ZH the story's about BTC is carefully chosen.
My point here is that the USD and FED has the US-MIL to back them up, so the reason I bring up the BTC paid Bernanke murder now valued at more than $100k in USD, is that the only way that BTC can go legit is if they have their own mercenary army of killers like the USA has to back up the dollar.
I think that is coming with BTC, as only the GUN can in the real world back up value.
Open your eyes, dude, can't you frickin read: ZeroHedge lead story 2013-11-18
Yep
Bitcoin fits perfectly with this website
out of all the cesspits of the internet, somehow zero hedge seems to be the most infatuated with it
you guys seriously could not see a bubble becuse it seems you live in one (the bubble of ron paul inspired idiocracy)
i will defend the zh guys here. some of them are shilling to get the next suckers in, but most are really hoping for some currency that is limited and without endless printing.
so - i believe in gavin and he's a good guy, even if he doesn't originally use his own identity, and he has humanities best interests in mind, not his own of course and this is going to be an alternative to the dollar and other currencies, where we all know we are losing our buying power by via savings, and this like gold and silver will increase in wealth while fiats debase. great idea and i love it and support it, but at what point can i exchange this bit coin for gavin mowing my lawn and cutting my hair and a pound of carrots please?
The USD & USA suck,
But embracing a bigger set of assholes, is NOT fucking logical.
It's a popularity contest, and the OP hit it on the NAIL, Ron Paul, he was not an intellectual leader, but #1 in popularity, not logical at all, as Paul never did anything but Talk,
Sure the USD and USA is fucking evil, and eventually will fail, but there are many better crypto-currency's than BTC, ... many, but like Ron Paul the team-ZH is fixed with the #1 contestant and never steps back to look at the big picture.
This is a major flaw in your so called defense of ZH defending this fraud known as BTC.
Fuck off, troll.
Please look into the processing time of BTC transactions.
Presently, it may take hours to perform a transaction from one party to another.
It is possible to provide a fractional BTC payment to encourage speedy processing, but without adding that, the time can exceed 48 hours in some instances.
Imagine the problem when BTC is more popular. Imagine the endgame on this.
If you want to get your transaction done in a non-geologic timeframe, you would effectively have to bid higher to get it done. Imagine having to pay 3 BTC to make a transfer from one person to another of 1 BTC, regardless of the USD equivalent value of a BTC. You think ATM fees are exorbitant, just you wait!
Qui Bono from this state of affairs? The miners/early adopters (read: new ELITE), and governments who will be the only possible new entrants into the blockchain game as the miner arms race continues.
The transaction confirmation time (10 minutes) is part and parcel of the whole bitcoin mechanism and doesn't benefit anybody at all. The confirmation system is part of what makes bitcoin as safe as it is. Why in the world would miners benefit from a longer or shorter timeframe?
Plus, I hope your "new ELITE" remark is not serious. Those guys had (and still have) the willingness/guts to risk their capital for mining (read: capitalism), which is something ANYBODY can do, including you. It's not a cartel or oligopoly. You can go and buy a TerraMiner IV today and be at the top of the game, probably above the "Elite"...
More fucking bullshit.
http://bitcoincharts.com/
Go read the charts, and note that just a few boys now control the mining, and the biggest are closed private pools back by Chinese hardware vendors.
In fact there is now so much fraud in BTC mining, that there are MSM story's that the entire 'pooling' is a fraud.
Essentially 'solo mining' is dead, impossible, but the POOLS are stealing the real BTC's from the users and passing them chump-change.
The entire BTC structure from top to bottom is rotten criminals.
Seriously IMF proposes world wide bail in, where not just banks but financial institutions of "all sorts" can independtly, without any court review, just take your money, even retroactively...money that you used to have in their instiution. Seriously.
http://oahutrading.blogspot.com/2013/11/imf-frank-discussion-of-bail-in-...
Bank in IRS 'blacklist' country's like Malaysia that dont' suck IRS / IMF cock,
and even CHINA will not suck IMF cock, but yes if you money is in EUROPE, or the USA, you will get a hair-cut, cuz yellen told you so long ago,
A negative savings rate is coming, ... but your talking 10-40%, but with BTC they'll steal 100%
Still at the end of the day, buried GOLD is the only 'safe' store in town, or silver, or bullets, ... food don't store well
Your comments sound like you nailed it!
"Five years ago it was worth $0. Then, a month and a half ago it went to $150 a piece. On Monday it shot to over $600."
Alternatively, five years after 2000, in 2005, the credit derivatives market was worth almost $600 trillion, then in 2008, it was over $800 trillion.
From zero to $800 trillion?
All based upon debt?
Astute observations. Time will tell how the Bitcoin markets compare to some of the more encumbersome exotic derivatives.
But for the moment, trading BTC to Gold seems like a healthy bet given the unreal ratio of 2 bitcoins per ounce of gold.
Currently there are 12 million Bitcoins and 5.6 billion ounces of gold. I'm waiting a little longer before doing any conversion.
There is a BTC kill-switch, and for those that didn't cash out early, they will see it all evaporate.
The GOLD will never go away.
Do you think the governments worldwide will conspire to kill Bitcoin?
I watched the Senate hearings from yesterday and Its not clear what they (USA.gov) will do about it.
Then go get some and stop being a tard.
I'm going to buy some litecoins today. Just to be a pain in EVERYONE's ass.
I love tulips.
I've said it before, and I will say it again.
I dont give a shit what it is. I dont give a shit what it does.
What I give a shit is that I have a LOT more cash in my accounts today than I did three weeks ago.
What I give a shit about is that I've transfered some of that to my PM holdings.
I sit in front of my computer every day to make some money. Bitcoin has allowed me to do this.
I still own some--not a lot by any stretch of the imagination. But it is still in the green.
Isn't that what matters to us?
We could debate the pros and cons, but I don't give a shit about that either.
you are on top of the game. ride it!!
That's all good, but Bitcoin is important for far more than money-making. It is crucial for FREEDOM.
It is a stake that we can put through the hearts of our barbarian overlords.
Get Bitcoin, USE it, take it as payment, tell your local stores that you won't buy unless they accept it. (Take your gains by buying things with it.)
The more value that flows through the Bitcoin economy, the less that flows through the slave economy.
ACT for FREEDOM!
didn't i see you at occupy wall street? how did that work out for you?
i just went by walmart and told them that i want my snap cards embedded with bitcoin,
or else i wasn't spending my money with them. you couldn't believe how accomodating they were.
yeah, great things like oak trees start out as tiny little nuts. bitcoins may be the revolution
hopefully we shall see, but i doubt it. got tulips bulbs yet? they are REALLY going to be bigger
than twitter.
"Freedom is just another word for nothing left to lose" - janis joplin
Put your USD into BTC and you will lose all, ...then you will KNOW real freedom.
From top to bottom the BTC pools and exchanges are ran by the lowest creeps on the planet. Russian Mafia, Japan Mafia, Chinese Mafia they're all majority investors in all the closed pools that are doing all the real 'mining'.
I hate the USA too, but giving your money to this mafia just makes them stronger.
The USA is collapsing and a new MAFIA is getting rich, and you can be sure they will be BUYING GOLD with their BTC's, cuz the MOB knows that when this CON is over, they know to be holding land or gold.
It's a scary thought that post USA collapse that we can look forward to the fact that criminal enterprises that make team-bush/obama look like fairy's will be ruling the world.
Strong rebound:
Allready 600 again + $ 150 in 3 hours
Bitcoin realtime quotes & news:
http://btcpost.net/index.php
It has come back every time. And if the Asians get into it (as it seems they have), the sky's the limit.
It may be that we end up pricing things in Satoshis, and only measure things like buildings in bitcoins.