This page has been archived and commenting is disabled.
In Spain, The Bitcoin Run Has Started
Something extreme is happening in Europe. Since Sunday, Bloomberg Businessweek reports a trio of Bitcoin apps have soared up Spain's download charts, coinciding with news that cash-strapped Cyprus was planning to raid domestic savings accounts to pay off a $13 billion bailout tab. “This is an entirely predictable and rational outcome for what’s happening in Cyprus,” says ConvergEx's Nick Colas. "If you want to get a good sense of the stress European savers are feeling, just watch Bitcoin prices."
The value of the virtual currency has soared almost 30 percent in the last two days. "One hundred percent of that is due to Cyprus," says Colas. "It means the Europeans are getting involved." As German economist Peter Bofinger warned in an interview with Spiegel Online: "European citizens must now fear for their money."
The same apps download data, however, showed that Italians aren’t ready to abandon commercial banking, remarkable as many Italians still recall that black day in 1992 when they woke up to a levy on their savings accounts to prop up the nation’s teetering finances.
The EUR price for a Bitcoin has jumped from around EUR37 to over EUR50 in the last two days as reality hits... and look at the volume...
Nassim Taleb (On Reddit) - via Mike Krieger (@LibertyBlitz):
"Bitcoin is the beginning of something great: a currency without government, something necessary and imperative."
Chart: Bitcoincharts
»
- 66814 reads
- Printer-friendly version
- Send to friend
- advertisements -
Now...why would anyone in Spain want to "convert" something? And in the process of conversion, I wonder if there are any withdrawals involved? As for folks in Spain who are collecting .03% on their savings accounts...the question must be asked...as Spanish folk born withouth sense?
Boom! bitchez.....
YOu fuck...you have interrupted my rather tipsy Spain rant! Was that your intent, sir?
I was saying....
Well, I've never been to Spain...but I kinda like the music. They say the ladies are insane there...but I really don't remember. And so, maybe I have Spain all wrong, 'cause if the ladies are insane there...well then...gotcha ;)
just curious...can I stand in front of a my pile of 'bitcoins' and touch them ?
Ooohhhhh . . . . . . . . . .
What's worse, according to Mr. Buffett, is that you can't even attempt to fondle them, so there's no way of knowing whether they'd respond.
Given that Krugman is against bitcoin, the thing is certain to succeed.
Of course Bitcoin is not big in Italy. Bitcoin is sooo 2012! Italians are anxiously awaiting the new (and may I say stylishly daring?) two-bit coin to be unveiled in Milan later this year.
I've been to Italy now, mind you. And those dogs...they get my bump, to be sure. Damn straight up decent, all friendly like. If you put me on a rack somewhere, prolly down in the basement of the fed being stretched, and some voice beyond the light bulb be sayin'g, "Cdad...you can't say here. You must move to Europe...or die." I'd be all like, dog, send me to Italy, man. I ain't got shit here in 'Merica anyway.
Set me up with some pasta, a cheap wine, and a few Italians shootin' shit..........dog.........I'm down with that.
'fo shizzle
Gold & Silver will move 50%+ when they do. That's what the bitcoin price says. If people are moving into bitcoin, who nobody knows, imagine how stocks of gold and silver must be getting stressed.
So I get you can use EUR to buy bitcoin. You can sell bitcoin to get USD. What happens when no one wants to trade Bitcoin to EUR?
What happens when no one wants to trade Bitcoin to EUR?
Ummm... pay them more?
As relevant as Bitcoin.
http://themittani.com/features/mwo-fine-art-staying-alive
You are a boring troll.
That's funny because I think that you bitcoiners trying to take over ZeroHedge are the trolls.
Bitcoin ETF for the FTMFW.
Now the Bernanke is going to have to print 3 piles of cash. One to prop the stock market, another to suppress gold and another to screw with Bitcoin.
Ben wonders if you have any bright ideas he can't fuck with?
Bitcoin is the only thing that TPTB cannot manipulate (They will shut it down instead). This graph would be Gold if it wasn't manipulated in the paper markets.
Idea for Wall St. - Paper Bitcoin!!
If you can't hold it in your hand Bitcoin could turn into Shitcoin just like, SNAP!, that.
When Paypal, Visa, Mastercard and the big banks announce they will not support bitcoin transactions (because of terrorism, organised crime, fraud etc) and converting them back to cash becomes problematic, then the real test will begin - that or the CIA leg of Anon have a hack-a-thon to remove some of the hype about it being secure and safe. Either way, it only has big challanges ahead of itself. The current fad hype is dangerous ground. Only the sub-$10 bitcoin owners can safely be playing this game and they are usually the ones with the mega-phones pumping it up.
When bitcoins survives and powers through some real challanges, then people can start taking it seriously - until then, you might as well "harvest" smurfberries or WoW gold because that's all it is but with encryption (that's only useful if you do a bunch of other precautionary things to keep the privacy in tact).
Stick to gold and silver and digging holes. A bird in the hand is worth two in the bush.
Nonsense. I've never seen an arb opportunity like BTC in my life!
Bitcoin actually poses a **MAJOR** threat to all national, inflationary, debt based currencies circulating around the globe. The danger is that eventually as it gains value along with it's downloads it literally sucks the capital out of the already floundering fiat money grid and causes a systemic collapse of confidence in global currencies.
Gold and silver can be managed to a degree as the criminals own the dollar, the bullion banks, some of the miners and the exchanges. They do not have this privilige with Bitcoin and it will only take the dullards so long to figure out that Bitcoin is a deflationary tiger that cannot be stopped!
Bitcoins haven't passed any tests and they have A LOT to front up too before they should be accepted as anything but a novelty - even novelities can make money in the early stages but that doesn't mean people will still want to pay a $1,000 for your 'rare' beenie baby after the high wears off.
Everything that makes bitcoins desirable is exactly why they'll be tested beyond anything you can imagine from the powers that be.
It just has craze written all over it. People are drunk on hype thinking they are putting a fist down the Rothschilds throats or getting rich quick like they've found a unicorn that shits gold.
Your either buying bitcoins becuase you think you've outsmarted the autocracy or your buying them thinking you'll mulitple your money.
That's dangerous thinking and even worse investing.
Bitcoins biggest failure will be it's success. It should have stayed secret and private and nothing more than a way to transfer money to yourself, friends or family - but the greed of speculation has pushed in into the spotlight and the mega-phone pumpers are making grand claims of $1,000 - $1,000,000 without any care for what that will bring. It's really just a countdown until it's serverly challanged and brought back to reality.
Don't be holding the bag of bitcoins when that happens. Sell them on the way up and convert them into real money while you still can.
What if bit coin is the one world currency all the conspricy theorist were trying to warn us about?
I just have to grab a coffee, this is becoming the best and the biggest thread of BTC related comments in the world. Yeaiaa.... :)
So many negative comments means only one thing, we're nowhere near the mania phase...
I've said from the start, as a speculation in a hype phase you can make good money buying/selling bitcoins - that's all good and well and like any fad or craze there will be winners and losers.
What stops me from investing and taking them sersiously is the absolute mania people have and the refusals to think rationaly about them, that is a dangerous sign and makes them something to avoid unless your going to pump and dump them.
If a cryptocurrency does become the future and the montery system is revolutionized, it won't be bitcoins, it'll be the 3rd, 4th, 10th attempt at a cryptocurrency that plugs all the unknown unknowns that brought down the attempts before it.
The mania people have thou is amazing. It's either going to be the best investment ever to have occured on Earth and we're living history right now or it's going to fall into a heap leaving most people bust and be remembered as fondly as Y2K bunkers.
Have to say that this one above is one of the best FUD comments. So dubious and frightening for BTC. LOLZ
Soon you won't be able to mine bitcoins without spending 10's-thousands on high-end gear to generate enough GPU power. You'll have a few big server farmers backed with good money that will pop up and drain all the available coins out of reach of the average person. At that point you will only be able to buy them at exchanges.
Shutting down exchanges for tax loopholes, supporting terrorism, funding organised crime or what ever other excuses they come up with will be easy.
Short of that, a major hacking offensive to simply steal people's coins with no authority supporting people recouping their loses will be the other challange they'll face.
The mania is bound to turn to fear when people realise there's nothing backing them and no one cares they've lost their wealth/investment. You can't have hopium in that enviornment and that's the future of bitcoins, until they've met those challanges, survived and strengthened through them this current boom is nothing buy hype based.
But the maniacs can't see anything but riches as they have out smarted TPTB so i guess there's nothing to worry about.
Hehe, I know, I have invested several grand in that new equipment.... In fact I'm one of the first 300 hundred users in the world. I don't need exchanges to sell it, for the amounts larger than 1000eur I get a visit from pleasent guys, fully anonimous, no fincen blahblah... They pay good, spot price - 3%... Gold and silver aren't backed by any goverment and yet they prevail due to value they derive from energy and time, same as btc... :) Nice comment I have to say, but still FUD-ish... Many will join this party fashionably late... I have to tell you this, I'm the illuminati and the free masons and the cia all together... Went through several wars on Balkan and don't give a shit for another one...
Are you a central planner? Jeez.....the pricing mechanism will clear this problem out and show who and who does not have clothes. You sound like a hack from the Fed.
my comment is really squishy! OUCH!
The bigscreen at home was fine, but wow, on the laptop and squishy.....OUCH ^2
The interest in this thread is telling. I can't imagine TPTB will allow a sovereign, international currency they can't control. Bitcoin will be shot down one way or another for the threat it poses to the fundamentally flawed system of reserve banking with fiat currencies the Central Banks have vested upon the future of the global economy.
Oh ya? And how prey tell do you propose they do that without shutting down the ENTIRE internet?
h
t
t
p
:
/
/
b
i
t
c
o
i
n
.
c
l
a
r
k
m
o
o
d
y
.
c
o
m
/
t
i
c
k
e
r
/
M
t
G
o
x
i
s
i
m
p
l
y
i
n
g
E
U
R
/
U
S
D
a
t
1
.
2
5
7
1
4
a
s
o
f
n
o
w
!
L
O
L
!
The reasons Bitcoin is not a mania are simple:
1) it is not inflatable out of design (21 milliond coin, 11 millions already mined, the next 5 million will be mined int he next 4 years, the 2.5 millions in the four year after them, and so on until 2120)
2) it is uncensorable. No need to ask permission to bank, SWIFT, PayPal, etc.
3) a transaction cost a lot less than a transaction with PayPal, Visa, etc. Some bug sellers implementing it could double their income just cutting away 2,5% costs going to PayPal and give a discount to the buyer.
4) it can be anonymous
5) The bitcoins in a personal software wallet con not be seized by governments. They need the private key. And the private key is uncrackable.
The main reason Bitcoin is not a fad is (3). Implementing it reduce costs. Not implementing it keep costs higher thanthe competition.
What Bitcoin need it time to grow larger. As more people enter the ecosystem, the price go up bot if hte just use Bitcoin as a payment system and both if the use Bitcoin as a storage of value.
More the price of a bitcoin go up, greater is the ability of the system to transfer purchasing power from a person to another.
Currently a single transaction of 1.3 million US$ (at Mt.Gox) cause the price to jump up more than 10%.
Now, a single transaction of 1.3 Millions US$ raised the market cap of 10% to 750-800 M enabling the ecosystem to manage transactions 10% greater.
Other 10 M US$ and the Bitcoin network will have a market cap over 1 billion and will be able to manage transactions of a size ouble than now.
This imply a single transaction of 1.3 Millions will not rock the exchanges so much in a few weeks.
This will enable the big players to not need to convert bitcoin to fiat money to pay their suppliers. They will be able to pay them with bitcoin even for large sums. Then, if a closed loop form, the bitcoin used there will be unavailable to the exchanges and this will push the market price up again.
When some big circuit will (near) exclusively use bitcoin to settle their debit and credits, their request of fiat money will disappear (€,$,£) pushing up the exchange rate of bitcoin and down the exchange rates of fiat.
The reasons Bitcoin is not a mania are simple:
1) it is not inflatable out of design (21 milliond coin, 11 millions already mined, the next 5 million will be mined int he next 4 years, the 2.5 millions in the four year after them, and so on until 2120)
2) it is uncensorable. No need to ask permission to bank, SWIFT, PayPal, etc.
3) a transaction cost a lot less than a transaction with PayPal, Visa, etc. Some bug sellers implementing it could double their income just cutting away 2,5% costs going to PayPal and give a discount to the buyer.
4) it can be anonymous
5) The bitcoins in a personal software wallet con not be seized by governments. They need the private key. And the private key is uncrackable.
The main reason Bitcoin is not a fad is (3). Implementing it reduce costs. Not implementing it keep costs higher thanthe competition.
What Bitcoin need it time to grow larger. As more people enter the ecosystem, the price go up bot if hte just use Bitcoin as a payment system and both if the use Bitcoin as a storage of value.
More the price of a bitcoin go up, greater is the ability of the system to transfer purchasing power from a person to another.
Currently a single transaction of 1.3 million US$ (at Mt.Gox) cause the price to jump up more than 10%.
Now, a single transaction of 1.3 Millions US$ raised the market cap of 10% to 750-800 M enabling the ecosystem to manage transactions 10% greater.
Other 10 M US$ and the Bitcoin network will have a market cap over 1 billion and will be able to manage transactions of a size ouble than now.
This imply a single transaction of 1.3 Millions will not rock the exchanges so much in a few weeks.
This will enable the big players to not need to convert bitcoin to fiat money to pay their suppliers. They will be able to pay them with bitcoin even for large sums. Then, if a closed loop form, the bitcoin used there will be unavailable to the exchanges and this will push the market price up again.
When some big circuit will (near) exclusively use bitcoin to settle their debit and credits, their request of fiat money will disappear (€,$,£) pushing up the exchange rate of bitcoin and down the exchange rates of fiat.
We are watching Gresham's Law become extinct. Bitcoins just might be the cure for bad currency.
If I own physical gold and silver, how can it be "managed" to a degree? Please do not aruge that Bitcoin is safer than physical gold in my possession (not sure if you were, but physical gold pwns Bitcoin). I'm not pro or con Bitcoin, but this I know: if it starts to pose a threat to Uncle Ben and his Fed cronies, you can be sure they will hack it, attack it and use any means possible to destroy it and burn those holding it. If it survives the coming assault, then it will prove itself durable and a global player.
Virtual alchemists will get no further than the chemical ones did.
Gold, bitchez.
Excellent
All they need to do is mine coins in Utah and then dump them on the market.
Everybody is hoarding them now.
a troll is somone who spouts FUD like you do. If it walks like a troll, talks like a troll, it must be a troll. tadpole is a troll. you have never made one cogent remark about bitcoin. your lack of insight and ignorance is truly profound. have you had a labotomy or something? maybe you are on SSRI? you will probably end up buying bitcoin at $1000 because all of your yuppy inbred friends finally are, but at that point it will be too late. fuck off
hey, kikebot...CIA already hijacked bitchcoin. GTFO.
That's freaking hilarious.
Those sheeple who are converting to bitcoin also believe virtual guns will keep them safe.
"You can avoid reality, but you cannot avoid the consequences of avoiding reality"
Sheeple are sheeple.
Ever heard of 3D printers?
Only for use in porn. I heard Bercracky used one to increase his manhood but he fucked up an put it in reverse. He ended up fucking himself in the ass.
Is the 3D printer real or stored on a hard drive? ;-)
Don't worry - your investment in copper clad lead is safe.
Folks still need real bullets for their "virtual" guns.
http://www.youtube.com/watch?v=0ieNQzmBaHs
http://defensedistributed.com/
what the fuck are you doing up tadpole. shouldn't you be in beddy? its past your bedtime isn't it? is that your little link to your favorite past time of battletech? you must be very mad you don't have some bitcoin to sell frog lady huh? there there, its not too late to realize how stupid you are and how little you understand in the universe because you and your yuppy friends all live in a close, inbred world where you all have to agree about everything. bitcoins only up 33% in the last 3 days.
You use it to buy 1000 rounds of Black Hill 5.56 ammo like I just did. BOOM BITCHEZ!
The same thing that happens when manufacturing companies need to get raw materials from other countries, those bitcoins become useless, thus they won't accept them as payment from wholesalers, who won't accept them from major retailers.
In other words, because fiat currency controls international trade, bitcons and PMs have their limitations.
The story also exposes a fallacy that even bitcoin itself speaks about. Because of the limited supply, bitcoins is subject to severe deflation.
Until the day comes where I can toss a 1 oz gold coin across the country safely into my recipients waiting hands, then bitcoin will be invaluable.
found a bitcoin laying on the sidewalk but when i went to pick it up the plug came out of the wall and i lost it now what ?
http://www.freebanking.org/2013/03/19/us-treasury-updates-bitcoin-regula...
bwahahahahahahahahahahahahaah
Fascism FTMFW by the TPTB. Until sheeple wake up, I have no sympathy as to what will happen to sheeple when Bernanke eventually crashes our currency.
In italy, by that time it will become vogue and known as the "Bit-ter coin"
On the other hand Al Gore just became a big fan of Bitcoin.
Am I the only one that thinks Bitcoins are stupid? Just wait until the government taxes it or shuts it down due to it not being sanctioned currency.
I concur. And I also believe that Max Keiser had a major role in its founding.
It only costs $5 to dig a Bitcoin out of the ground.
And the shit is literally everywhere!
L oh fucking L!
Don't bunga with people, dude.
surely you jest? al "manbearpig" whore has got to be the biggest control freak on the planet. why would he want to decentralize control and endorse a private cryptographic currency. the two seem to be mutually exclusive. maybe he has seen the light....na
I think he is cashing out his own made-up currency (carbon credits) for Bitcoins.
Your right, if he's against it it must be good.
fat chance bitcoin succeeds by staying free of bureaucratic blunder..............the gravitational force of the government black hole is already gaining in strength
http://arstechnica.com/tech-policy/2013/03/us-regulator-bitcoin-exchange...
"If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."
+1
Not a bitcoin fan myself. I can't, for the life of me, see how it WILL NOT be manipulated by banksters. They will think of some technique, mark my words. It's not going unnoticed.
Big deal... name me s/t of value that has NOT been manipulated by the rich/powerful.
I take a totally agnostic and pragmatic view: Manipulated or not, can I make good use of it in scenarios when other forms of currency are not suitable? Can I make money on the way up? Down? How much should I allocate to Bitcoin to meet my needs (real and expected), and meet my risk profile?
Note to self: do extensive homework on Bitcoin! Then share what I know, not what I feel or imagine.
I've been a computer geek since before eBay was a twinkle in the eyes of a far off hard drive. I have never, ever used eBay. Bit-con rings the same bells.
I make my living actually producing things people need to live. Bit-con is nothing more than a gamble for pumpers who think they can be the next Lloyd Blankcheck on a smaller scale.
Money for nothing and your chicks for free. Go for it Bit-con pumpers... let's see how it turns out for you a year from now. Your Bit-cons could be worth $2,000 but I can tell you for sure you won't be paying me for welding or CNC work with them.
Fonz: Was that a Ronnie Reagan quote? I seem to recall it was always laid at his quote doorstep... and he was shot a year later.
yep,
i'll wait and see what happens after the banks naked short sell the btc down to about $7, and then settle in fiat rather than delivering btc. similar what they do, and will do in the end, with paper gold and silver - no deliveries, settle in cash. if the btc can survive that type of attack, i'd put my toe in.
The ignorance here - and willingness to pontioficate while utterly uninformed - is astonishing.
That percentage of proudly blind are not found in nature. Someone's paying these haters.
while you are pointing out our ignorance you may be ignoring your arrogance.
Seriously, for every 1000 BTC posts telling someone they don't k ow what they are talking about there may be 1 or 2 that are helpful explaining cryptography to the uninformed. I am uninformed at this time but all I learn from the BTC horde is that they know something I dont and can't be bothered to explain.
The superiority thing seems a little off - the burden is completely and undoubtably on BTC supporters to explain what they see as the second coming of Christ, but I tend to feel there is more eye rolling than knowledge sharing. This doesn't say the best things about BTC.
Hell, if it is so complex that it can't be explained in message format, recommend a book that is accessible to a lay audience.
That's funny. As if I am somehow responsible for your ignorance, laziness and stupidity. I'll sell you a fraction of some of my bitcoins for a thousand dollars after you've educated yourself ;-)
The Bitcoin Channel
but are they paying them in Bitcoin?
How could, anyone, short sell bitcoin?
There is a finite amount of them. And every transfer must be validated by miners.
So, we know exactly how many BTC are in existance and where they are.
You can not short sell something you have not.
You can just naked short sell a promise.
They could short sell BTC, but they must buy them before they short sell them.
The buy them and the price go up, they sell them and the price go down. Good way to short you bank account, for sure.
If you drop a Bitcoin in the woods and there's nobody there to hear it...does it......wait a second....you can't drop a bitcoin
Can't you drop or hear these...?
http://3.bp.blogspot.com/-WbUR2VZC51Q/T6iBLuZSngI/AAAAAAAAAD4/rsmfkWsRBn...
The virtual nature of bitcoin also makes it harder for governments to stop transactions in bitcoin.
Bullshit. I just opened a BitCoin account (consider it research- I'm not going to argue the point one way or the other without a little first hand experience). Here's what I've learned so far..... if they kill MtGox.com most BitCoin transactions are kaput. You can open an account, you can fund it but good fucking luck TRANSACTING anything without an online exchange. Without the ability to exchange, it's worthless, like any "currency" would be.
From what I can see so far, it CAN be shut down. It would require a technique similar to how they shut down Napster (or InTrade). Go after them in the countries where their exchange servers operate.
Mind you, I've been at this for all of 3 days. So I'm no expert by any stretch, but if any of the BTC fathful (THOSE WITH MORE THAN JUST A THEORETICAL UNDERSTANDING) want to jump in there and refute this, I'm willing to be schooled and run home with my tail between my legs. I'm just giving you my opinion of how I would kill it, if I was asked how to do so.
Well, you're right if you just want to kill the ability to tradei it for other fiat currencies. But there are other exchanges and they would have to shut them all down at the same time, which would be a logistic pain in the ass, but not impossible. What it doesn't do, is stop people from trading bitcoins for goods directly using no intermediate fiat.
A better attack would be to just shut down the servers of the major mining pools. You could disrupt the network for long enough to shake the faith in the reliability of bitcoin then. Though it is decentralized and anyone can mine independently, very few people would find it worthwhile as the reward for mining could take months to materialize. Interest would wain and so would the value quickly sending the whole system into a downward spiral. About 75% of the BTC mined right now are done by a handful of pools - http://blockchain.info/pools
I'm sure they would pop back up fairly quick, but I'm not sure how many people they would get back, nor if they would keep coming back if they were repeatedly shut down.
You can pretty much wager wherever the greateast choke point is is where they will pounce if it ever happened.
If they attack the miners the bitcoin network would adjust by decreasing the difficulty of mining a block. It can be decreased so low that even home pcs could mine blocks anywhere in the world.
I'm aware of how it works, but in reality, with ASIC's online that don't need a pool (especially if everyone else quits), the difficulty will still be through the roof. No normal person with even two high end video cards will be able to mine effectively by december of this year. I mentioned they wouldn't be able to shut it down this way, just drive enough people away from it to potentially make it irrelevant again. It might not work, but I'd probably try it if I were them and were getting desperate.
How precisely, would decreasing the supply of Bitcoins make them less valuable?
Are you one of them Princeton PhD Economists?
wrong! there are about 50 or so major exchanges around the world and new ones are springing up like weeds. mt gox does handle a majority of the trading, but they won't even be able to shut it down barring they nuke the entirety of japan where there servers are located. if japan tried to shut them down, they could simply relocate the server to another country such as iceland or Iran, or cyprus where the people are friendly to btc and see its utility. has our government been able to shutdown wikileaks yet? i guess if the mt. gox server moved to iran, then we would have to bomb them because they love bitcoin. in the future, if you support and or use bitcoin you will be branded a terrorist by our lamestream media right?
wikisrael...get it?
wrong! there are about 50 or so major exchanges (CENTRAL BANKS) around the world and new ones are springing up like weeds...
Fixed it for ya. I'll take FRN's for $400 Alex...
If the threat Bit coin poses to the central banks becomes significant, it will be shut down.
can't be shut down. that would be like shutting down bit torrent. ever hear of the man shutting that down??? there is also VPN.
Since you bring up bittorrent, you can read this appellate order about this gentleman who got 20 years because his downloads/uploads were traced.
http://www.ca11.uscourts.gov/unpub/ops/201015682.pdf
More FUD from the morons in the peanut gallery. He was convicted for distributing child pornography. What does that have to do with bitcoin?
The fucker was tracked through bittorrent. That is how they found him. Since someone else compared bitcoin to bittorrent I wanted to show that they have the technology to track it.
His distribution was through bittorrent as well since he wiped his computer clean after downloading.
Is that spelled out enough?
So would anything else in your premise. In which case, your point is... what?
A bitcoin run? Have these people not hear of gold like the Argentinians. Prolly not much Au left in Europe, but a lot of GLD.
How is it people still don't get bitcoin even now? Here let me help:
gold = money
bitcoin = currency
If you want to transfer money (gold) across the world, you use a currency such as bitcoin. Or you can put the coin in a FedEx box, but that would take a bit longer.
But bitcoin is not backed by gold so the relationship is somewhat like the dollar to gold.
re: fed ex box... or ups for that matter, i believe obama adressed that today.
We "get" bitchcoin the same way We "get" FRN's. Here's a reality slap... you can't buy what I have with BC... period. I don't even use FRN's. You will be left holding all the worthless bags. I've been dong this for over a decade now. Stop thinking with Ben's brain and come over to the the dark side.
Forget bitcoins, anyone pricing ammo lately? We are approaching $1 per round for ammo in ANY caliber above .22lr.
And .22lr is pretty much completely unavailable at any price.
$50 per box of 20 for .308 match - if you can find it. That is up ~150% in a year.
The Fed's mandate of 2% is working well. Don't go spillin no beans now, Jam. Move the decimal 2 places...... You meant 1.5%, didn't u? /s
Sure, you're right. Though copper, copper alloy, and lead when combined in cartridge form have greatly outperformed base and precious metals lately courtesy of a different batch of Feds.
Don't shoot Jam... it's me, Angus. I've got my hands full with some Bitcoiner's right now. I may need some back up. Let loose the dogs of war!
No worries Angus. My metals are wet and my powder is dry.
Priced in bitcoin, ammo prices have decreased in the last year.
Never tried guarding the perimeter with bitcoins. How does that work exactly?
You can still get .22LR on auction sites (where legal), but be prepared to pay .15 to .25 per round, depending on quality of manufacture (and desperation of bidders). Recently bought a couple 1400-rd Remington .22LR buckets for ~$180 each (retail: $70). 5.56x45/.223 can be had in bulk (1000-ct) for about .78/rd at traditional sales sites, but availability is very spotty.
Which sites?
check gunbot.net for ammo and mag pricing.
A bitcoin run? Have these people not hear of gold like the Argentinians.
Are you being ignorant on purpose? Read about Bitcoin in Argentina - an article from October.
It makes perfect sense, everyone who is a bitcoin cheerleader here fails to understand that just because the prevailing market in these digital coins keeps rising in fiat value and one can take profits should they wish in other fiat, what we should be paying attention to is why gold and silver are unreactive in comparison to the wild price moves of bitcoin. Get ready folks. The move is gonna be Ralphie B - Massive
what we should be paying attention to is why gold and silver are unreactive...
And maybe we can care about both?
Can you bludgeon a numbskull with a ten ounce bitcoin?
Yes they actually come in coin format if you so choose.
can I stand in front of a my pile of 'bitcoins' and touch them ?
Can you touch the women you wank off to on your computer every night?
+1 for the classic Three Dog Night reference.
Fuckin' privates in the water army...comment jumpin' with irrelevant shit. Is Sacrilege ever gonna earn his keep and finish that Hong Kong filter...or what!
I was sayin'...'bout Spain...I hear the food is a tad "greasy." I don't know...just heard. If I was one of half of the unemployed youth in Spain, and my dad was all like, "The banks are fine, that was a one off in Cyprus." I would be like, dad, you tool, buy some f'n bit coins, or maybe some silver rounds, you f'n tourist! Or maybe just stock the F up on some cheap wine, you sad bitch.
The food is very greasy. Tapas has three main ingredients, namely oil salt and garlic.
As I was sayin'...before you rudely interrupted me [albeit on official like "answer patrol"], I'd be givin' my sorry ass dad shit, night and day, knuckling his apathy, him puttin' faith in the ECB, and maybe even Russian mobsters...in an attempt to convince himself that there was no criminal syndicate of bankers ripping off the entire world. And now since Cyprus...goin' all full frontal, in your face bitch about it. Dog...get some respect for yous all...
Bite me...
Apparently Dennis "The Beaker" Kneale still frequents the blogosphere BWAAA HAAAA HAAAAAA
And the jamón. Oh, the succulent jamón.
I have a stored image of an old hombre sampling some prime jamon iberico de bellota. The way he tilted his head back and allowed the wafer thin slice to enter his mouth. Allowing the creamy fat molecules to impart their unique flavor to his senses.
Excuse me.
That ain't the way to have fun, son.
http://www.youtube.com/watch?v=rKaQzQAlNn4
Hoyt Axton, the great.
http://www.reddit.com/r/IAmA/comments/1aoi0s/iam_nassim_taleb_author_of_...
TALEB on bitcoin: "Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence. I only talk from skin-in-the-game. If I had money in bitcoin, I would have reported it. But I don't yet. I am waiting to understand it better, not with my brain, but with my experience..."
Google trends in Spain: http://www.google.com/trends/explore#q=bitcoin&geo=ES&date=today%2012-m&...
Uh oh, here comes 1/2 pint with his "bit coins are the end-all be-all for future monetary freedom.." Why can't you be more like Cdad? Cdad is funny! And he doesn't dis silver. See?
http://www.zerohedge.com/news/2013-03-20/spain-bitcoin-run-has-started#c...
O get it :) haha good one
love you, man
You know...I own a little silver right now...coins I can click. It ain't much...mostly just to remind my ass........
But if you were to ask me which group of crazy ass'd mothers I most respect.....it is you silver dudes. Man......nothin' lites up ZH like a story about JP FU Morgan screwin' with the price of silver. And we all knows it, 2.
Yeah, man...put me down as a silver ownin' wanna be fool...............'cause yous gots my respect!
Unlike Sacrilege....who just can't seem to figure out that Hong Kong filter already. I'll brings it, Tyler. Me and my boys will comes right down there and blow your mind, dog.
BTFBit
Precious metals are stores of value but Bitcoin is a much better medium of exchange (try taking your precious metals across a border). Both are ways to escape the tyranny of central planning.
You can file your gold bars into little flakes and then swallow them. Go over the border and then poop them out a few days later. If TSA metal detectors go off say that you caught a bullet for your buddy during the Korea War/Vietnam War/Grenada Invasion/Gulf War/Iraq War (adjust for your age group) and accuse them of unpatriotism if they object.
Works even better if you are overweight from munching too much Fatburgers and slurping too much 16 Oz Big Gulps.
There's an easier way to move gold into an airplane, but disclosure in here would obviously defeat the purpose. Hint: Check history.
If you can file your gold down and eat it, you don't own enough gold. If you can file your silver down and eat it, you'll probably kill off all those good bacteria in your intestines.... but at least your turd will smell fresh :)
Shitcoin?
"Diamonds are Forever" it is then. Do they even need to have "Debeers" carved in them now?
C'mon disabledvet... you should know that serious diamonds are always covered in blood.
Many zerohededgers are so gold/silver hardcore they get upset with the mention of any alternative. I think bitcoin goes to $150 within a year easily. I dont see pm producing the same return within a year and the government has never confiscated bitcoins like they have pm. I have pm, bitcoin, cash, booze and other tradeables. I dont what the fuck might happen so I am diversified. I even got some SPY for the haters.
Wtf is bitcoin? How many troy oz? .gov has to pass on simple law and bitcoin is dead.
Google "Fincen online currencies". It's legal.
Everything is legal, unti it isn't.
pods
What a horrible bunch of crap the FinCEN site is. From what I can tell, if you exchange bitcoins for dollars or dollars for bitcoins, in excess of $1000 on any given day, you qualify as a financial institution. based on:
http://www.fincen.gov/statutes_regs/guidance/pdf/FIN-2013-G001.pdf
http://www.fincen.gov/financial_institutions/msb/definitions/msb.html
http://www.ecfr.gov/cgi-bin/text-idx?c=ecfr&tpl=/ecfrbrowse/Title31/31cf...
I don't understand what the ramifications of being a financial institution are, though.
For one, you qualify for free money from the FED.
Wrong!
Get on the internet and research the shit, before you pop off! I'm not saying its the ONLY thing you should be invested in, but its pretty fucking awesome at attacking the heart of the drakness that is intl. banking cartels and dicatorships!
People are going to use it, esp in EU, where you can jump borders, and the banking rules change overnight!!!
This electronic currency is issued under Fincen (us treasury) regulation. Yup, I fully trust this. Tomorrow I will sell all my gold and buy Bitcoin.
No, sell all your Euros and buy bitcoin. Then buy gold somewhere else, where it will be in your personal possession.
Who takes bitcoins for PM's?