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Bitcoin Rises Over $500
One day before the Senate's digital currency hearing titled "Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies", Bitcoin is largely oblivious to any potential regulatory threats, either at the legislative or the city level, where as reported previously the New York superintendent is in a rush to enforce BitLicenses on businesses that accept BitCoin, and moments ago crossed $500 for the first time ever. Instead, it appears that as we also reported previously, the Chinese Bitcoin craze has reached the parabolic threshold, going so far as making Bitcoin an acceptable payment for real estate, which means that while for the time being Bitcoin becomes the alternative inflation protection medium for hundreds of millions of Chinese, all bets on how high it can get are off.
Intraday chart:
1 Year Chart:
1 Year log chart:
Curious where the demand is coming from? A week ago we showed a handy utility, FiatLeak, which shows where the BitCoin transactions are taking place:
Finally, for those curious what a "fair value" on Bitcoin may be, here is what we presented a week ago, courtesy of Global Macro Investor's Raoul Pal:
So yes: Bitcoin is volatile. Very. That much is clear. But what is not so clear, and perhaps a key reason for this volatility, is just what the fundamental, or intrinsic value of BitCoins is when one strips away the pure euphoric momentum to the upside or downside.
To answer that question, we go to Raoul Pal, head of the Global Macro Investor, and his November 1st recommendation to "Buy Bitcoins"(when BTC was $210 so nearly a 100% return in 1 week) which among other things attempts to "value BTC using a macro framework" or, in other words, the first supply-demand driven fair value assessment of BTC.
His take, and price target, in a nutshell:
A fudge, but not a stupid one
Let’s use a broad guesstimate. One Bitcoin should theoretically be worth 700 ounces of gold or pretty close to $1,000,000, if we adjust existing supply of both to equal eachother.
One BTC is currently worth 0.14 ounces of gold.
That gives BTC an upside of 5000 times to equal the current price of gold, supply adjusted. Clearly, I and everyone else believes that Gold may well be much higher than here in the next 5 to 10 years, thus versus the US Dollar the upside for BTC could be multiples of that.
Now, before you shake your head, simply go back to the chart of Gold versus the US Dollar and just recognise that it has risen 8750% since the 1920s. And just remember that Microsoft rose 61,000% from its IPO to it’s peak.
Considering what we know about the world, I personally believe that Bitcoin may well explode in value as more and more people begin to use it.
If you stuck $5,000 into Bitcoins and each Bitcoin did go up to a gold equivalent of let’s say, only 100 ounces of gold (not the potential fair value of 700), then at current prices your Bitcoin stash would be worth $3.3m.
Now that’s what I call a tail-risk option. It’s either worth zero or it’s worth a truly outstanding amount of money.
I bet you never thought you’d see this in a macro publication. But I’m serious. This just might work.
Read on in the attached pdf below (link)
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I can't hold a fucking barfcoin in my pocket which leaves it's viability at the whim of whoever controls the internet. Therefore 1 Bitcoin = NADA!
Of course you can. Get a pencil and a piece of paper and write down the unque series of numbers and letters that make up the bitcoin's key. Then, put it in your pocket. Curious, which one do you think you would find: 1. easier to carry around, 2. easier to get through TSA. 3. easier to get across borders? physical gold or silver coins or a piece of paper?
I write my pass codes on paper and then I eat the paper.
It would be the most expensive shit of your life.
Can you email your gold across the border when your government is prohibiting precious metal exports?
Paper wallet. Three seconds of research.
When Bitcoin has counterparty risk, (is floated on open exchanges vs all fiatskys and metals) real time through legit trading houses/exchanges, it will drop like a rock!
Currently, Bitcoin is difficult to short. Most transactions in Bitcoin are on the {buy} side. if you look at the percentage of buyers vs sellers the skew is massive. Yes there's legit demand, but it's not easy to sell Bitcoins YET!
If Bitcoin is to be treated as an inflation protected currency, it must be legitimized on open trading, real time exchanges, exposed to the full force of counterparty risk!
That is all...
When I buy my bitcoins, i buy them in a number of parcels. So if wanted to buy 10 I may buy 5 lots of 2.0 coins. As each arrives in my exchange account I direct it to my wallet, so it never persists on the exchange for longer than twenty minutes.
You're an IDIOT! I could care less about the divisibility of Bitcoins. I'm talking about COUNTERPARTY risk.
Name the counterparty.
ha fool... it trades 24/7 non-stop for all on many exchanges
your idea of 'legit' is 'corrupt'
I was thinking of calling him a FOOL back, but then I'm the kind of person who cried when Esmeralda gives Quasimodo water.
Bit coin trades on it's own network of small unorganized piecemeal "so called" exchanges, that have ZERO unified regulation or co-oped compliance. @ dark pools of soros Do you really want to get into the "nuts and bolts" of trading with me?
No, people willingly transact with them just like a bank. The exchange is just like cash in hand. P2P.
Transaction approach and pools...identical. Bitcoin because of availability would follow the path of least resistance. A business owner would have to balance that fine line between liquidity and functioning as a business. I'm afraid the hedge fun FX would be dead the same day. However currency pairing Gold, Silver and BtC would act as the counter party priced fairly to supply.
Instead of today where 1 oz of gold can be counted as 9000 behind an ET0,F because people behind a closed door say that was going to happen for 'your own good'. The counter party risk is where it always was. PM's. Ranking one piece of tissue to another isn't counter party risk, it's comparing well used worthless snot rags.
So right now the realistic position to be in marketwise is to avoid that risk entirely.
You can justify you're little shell game all you want. That's your choice. Personally,I'd be alligning myself with some private equity groups that are forming "real exchange" possibilites for Bitcoin.
Someday F/X will die.(?) F/X is a medium of exchange. EX; clams, spices, metals, Fiats, Bitcoins... > Human organs?
Until Bitcoins have legitimate, counterparty risk, they're null and void in my book.
I convert F/X procedes into "Real Property", not Bitcoins...
Right now you've got workd governments willing to take that 'real property' by force. You really want to fight with someone about someone else's IOU?
Really think about the answer on that. Is it worth it at all to pretend that someone else is making plans to murder you and I over their poor financial planning. That's the situation and about as real as it gets. Serious as a heart attack. Nothing is worth the cost of that, it is by all definitions asking to fight about nothing that wasn't ever going to be paid.
Hold the physical by all means, it'll be properly priced in to PM's because ETF's would never exist in that universe the math works contrary to a leveraged anything because the 'capital' is unable to be leveraged/borrowed/charge credit. It's built to destroy the FIRE industry. Not PM's. PM's will reflect the supply and demand as it should be right now.
But it's not is it not by a long shot...
Are you kidding yourself? Your comments really show you're youth and ignorance!
yen,
not difficult to short on zh, but extremely dangerous-----good luck on your short, but be patient
How can I short this SHORT TERM BUBBLE!
Borrow bitcoins from someone. Sell them on an exchange, buy bitcoins when the price falls and return bitcoins to the lender.
You're a clown! It's idots like you that give a bad name to Bitcoin!
Hey, can I borrow some of your Bitcoins for a week? I'll use some of my XAU bullion as collateral. Good luck finding you in a week when Bitcoin drops, to recover my collateral for your virtual currency!
Why do you think Bitcoin isn't yet openly traded IDIOT? For the reason I just mentioned. You obviously have ZERO understanding of counterparty risk!
Name the counterparty, or you owe me an apology.
That's the point you MORON! There's not a functioning exchange to short the risk in Bitcoin. Now go back to the basement for your (5) minute timeout...
screw shorting... you can sell them when you HAVE them
usury/margins be damned to hell
No, that's not correct. Selling does produce price discovey to a point. Bitcoin is nowhere near that point of liquidity to define it's value through selling.
Using margin (cash in your account) @ 1:1 leverage is no different then walking into your broker and buying the Bitcoins for their equivalent cash value.
@ hungrydweller
How to short bitcoins (if you really must) - Quartz
It's going to get easier soon. :-)
You better have a BtC to cover that margin or you'll lose it all. LOL I double dog dare you to short it.
Doooooeeet! Bock Buck buck yen pound!
The history of e-gold and Libery Dollars - this is where we see the highest regulatory risk: the more successful Bitcoin becomes the more will be the desire of the System to compromise it by all means.
The video was done at Bitcoin level of 100 dollars. Story about the Pizza sold for 10,000 Bitcoins is particularly amazing with Bitcoin crossing today 500 dollars. This parabolic rise actually is the highest risk for Bitcoin believers to overcome. Will they stay after the run to $2000 and collapse to $50 or just switch to "the new and better" cryptocurrency? Just look what has happened to Gold after its run to $1900 - it is almost a dirty word now, but it is Gold and China is buying record amounts of it at this levels. Who will support Bitcoin after its bust?
http://sufiy.blogspot.co.uk/2013/11/bitcoin-rises-over-500-its-collapse....
Is it likely a rival cryptocurrency will emerge out of the blue, over night, that takes all the confidence away from the lead player? There are already many alternatives from teh same code base, each with its distinct advantages, yet they are still in the relative doldrums.
Most like the real BTC must come from anonymous, some real fucking anarchists,
The problem with BTC is that its already been ran by fucking likes of winkelvoss, .. I mean come on guys,
All this social-media money, and all these facebooks, twitter, google, its all god-damn fucking IQtel ( aka CIA/NSA )
The crypto-currency is a good idea, but its got to go slow, and can't have bubbles, you know must be slow&steady
It can't have fucking god-damn guys in kmart suits ( mt-gox ) and other exchanges,
It's got to be smarter about the 'wallet' problem, got to be smarter and easier for idiots to manage their passwords ( key-chains ) whatever...
Got to be easy for backup and restore, so that your money is NEVER lost, got to have fingerprint or some kind of notary so you can prove loss,
One of the most mind boggling problems is I see this daily PIMPING of BTC on Zero-Head, but I never see a mention of the 10's of 1,000's of people who have been ripped off by the exchanges,....
This notion of keeping your wallet with some guy INDIA that has a 'server farm' in Nigeria got to stop, ... Funny that there is never a mention of the corruption involved in this PONZI,
Lastly the next crypto-currency must be PONZI proof, ...
I think the discrete math ( crypto ) is the easy part, the hard part is "honest anarchism", anarchism means NO GUBMINT, and NO FASCISTS, and keeping the FASCISTS out will be very hard,... especially given that current incarnation was created by the fascists ( nsa-big-banking ).
Jesus H Christ! To the moon. At least it takes the presure off gold and silver which, in turn, keeps the environment from being damaged.
That's crazy talk, to make cheap ASICS is pollution,
and the hydro-power and coal burning to feed the mining of BTC could light up entire world city's,
You have no fucking idea of what a waste of resources that hw mining of bitcoin is doing to the world,
Even google now locates their server farms near hydro-electric dams, and they are DEMANDING MORE DAMNS be built.
Google 'bit coin mining with solar', that may amuse you.
To zero or to many zeros. It will be either/or.
+6% from that old 500 mark.
The development can fork if central bankers attempt to interfere. In other words the Central Bankers have to get the entire world to accept some modified version of BitCoin to stop it. Nobody even wants their stinkin dollars let alone their version of BitCoin.
This is the chance to free ourselves from the squid. To hell with Janet Yellen and her criminal cohorts.
Long live China.
Long live China.
Bubble that shit motherfucker and suck Xi Jinping's cunt.
Ouch $545. This article is out-of-date and misleading!!!#!!
Edit: $605
No need to wank to get to sleep tonight.
I think this screenshot summarizes Bitcoins pretty well, with repect to shorting them.
http://imageshack.com/scaled/1600x1200/21/bo60.png
"Shorting requires an established market platform that doesn't exist yet"
I AM COMMENT #420 IN THIS THREAD!!!!!!!!!
SMOKE THAT SHIT BITCHES!!!!!!!!!!!!!!!!!!!!!!!!
Buy now or be priced out forever..
Taylor, get your BTC $600 hat ready!!
You can say whatever you want - But being a smart man when it comes to investments means to be open minded to every technology or strategy or ideas.
The stuff most people are doing is jumping on such a train way too late... Inform yourself about new technologies, new materials and bright ideas.
Fuck better yet 'make your own'
Remember the rule of 3 in high-tech,
1.) to be first
2.) to be fast
3.) to be the best
BTC was 1, but its slower than a fucking slug mating, and its not the best, as its too fucking easy for the exchanges to let 'squirrel's steal your 'wallet'
I'm not to bother with this shit anymore, but if I were in my early 20's I would be on 2&3.
If the US moves or not, doesn't matter. Stash, gas or ass man. No one rides for free.
I have stash and gas...wife has the ass... 2/3rds ratio of wealth as its always been..
When the BIG USA BANKS figure out how to take 10% off the top on every BTC transaction, then you will see BTC at walmart,
My fucking Gawd can you imagine how bad the States must be salivating about controlling BTC? You'll see fucking 25% VAT,...
My guess this is the REAL reason for BTC, ... now is just ALPHA testing, but its the wet dream of the GUBMINT to get people away from 'paper money' and into 100% ONLINE where they can control your entire life, ... down to the micro-second.
Make NO fucking mistake that this entire BTC OP is being managed by the 'NETWORK', just like fucking matrix, and most don't have a fucking clue what is real.
Are you not at all worried that Tarzan will come and force you to forfeit all your BTC?
You think you cannot be found? Silly Zero's.
Over.
Yes, we will be hiring because we'll pay in money that actually buys things? I'm sure that they'll accept BtC to work whatever is required from them.
This won't be a war of bullets. It's a war of words.
You're level of thinking is so ass-backwards. Have you ever gone fishing?
Thought that a suburbanite boxed wine near-do-well nilihists that catch farts for living concerned anyone?
They didn't, just pigs for the slaughter, it's the attitude that keeps the place shitty. Made yourselves into the walking targets you are today by your own hand. You bought the lie, swallowed it and it hurts. So you can keep whatever you are selling because I already know how that whole thing works.
Look at it...it's all working so well!!! HAHAHAHAHAHA! Bright future here neh? So stay, pretend fiat printed from nothing means a shit in the bush. I hold shares, PM's and land. I run a services business. If you don't have BtC when your enterprise systems are broken. We just don't have anything to talk about because you don't have anything I consider valuable, unless you have BtC or PM's to trade for labour as cash. It would be by full definition; your problem and it can stay broken forever.
This is about money, not bullshit counter party risk that is only a cover to disguise scalp trading. So you can suck a bag of lemons on that. I've watched FX monkey's get fucked for 25 years by their own stupidity and greed. This year won't be different. But next year will.
Within thirty years, we will have the technological means to create superhuman intelligence. Shortly after, the human era will be ended.
—"The Coming Technological Singularity" by Vernor Vinge, 1993
CC are step one. Congratulations to you.
You are pushing that string and it is the duty of anyone who has a vested interest in the survival of our spices to extinguish your variation.
Over.
You fly the objects my industry designs. I am the future. Sorry the bright firey ball in the sky frightens you cave man, but things are changing, find a spot on the train before it leaves the station.
That's all I'm telling you. Train doesn't follow your time table. It follows everyone else's. Being lucky is based on preperation not opinion. Good thing for that.
<jazz hands> ho ho ho...
Your a little boy with a computer. You.ve never owned a business, and have trouble making friends, You don't play sports, and don't play any musical instruments.(skin flute) excluded.
@CPL Am I wrong?
Shit you got me in a square peg. Hole in none champ.
Amazing isn't it how much pussy you get if you play an instrument and make music,... and yet these guys watch porn and wack the monkey, and never think to buy a 'device' and learn to play nice sounds that make women want to dance and fuck, ...
Simply fucking amazing, ...
Soon enough you will understand that your objects are the basis for the 'private thought' which turns into the 'private memory' in the future of collective intelligence. The design will be very similar to the blockchain. Very light encryption will be used to fool the collective into believing that there is privacy, but alas....
What Vernor Vinge got wrong was that there will be individual superhuman intelligence. What you are doing will lead to collective intelligence, the loss of the individual.
You must be stopped.
Butt. Hurt.
interesting conversation piece. "It was storming outside and I put the bitcoin on the mantle piece. my mind wandered to what what my nieces and nephews had planned for the weekend and at that point I'd forgotten that I'd put them there at all. I picked up the phone to chat with them and that's the last I remembered about bitcoin."
"as ( / its) a trade"
the fed has ordered to kill the PM's. is it any wonder $$ is flowing into the alternatibe bitcoin....
was predictable
jb
use the kill to one's advantage!
wake me when it's a dollar a satoshi ....
edit- ok ok a penny a satoshi. (greed is a terrible thing)
If a lot of the current activity is coming from China, and chinese people are typically buy and hold investors (I have no idea if that is an accurate statement), then where does this end?
Also, does anyone know how chinese people actually buy bitcoins? It's damn near impossible to buy bitcoins in the US because the banks and paypal won't touch it. But are chinese banks friendlier towards BTC?
BTCChina - the worlds largest bitcoin exchange
Yes but how does the average chinese get their cash RMB into BTC China?
How does a hair-lip american get his USD into paypal any more?
I can't even 'pull' from my USA accounts into paypal anymore, ... after years of doing so, they want me to use a credit card, which now backlists on my card where the money was spent, rather than just moving it to paypal, thus all the anonymity is gone, I can't even send a fucking 'check' to paypal.
You ask how does a chinese send money to BTC, I can tell you that here in China, its very easy to 'pull' money from a chinese account into paypal, and then move that paypal money to BTC,
It's the USA that fucks people, and makes it virtually impossible to get their money outside, of using an ATM and get photographed and then charged $10 to get $100.
Thanks for chiming in, i've been making the argument that China is headed in the direction of capitalism and we are headed in the other direction, and its not well received by anyone. Maybe i'll even get a dozen down votes for this comment.
..and no, i'm not saying China is a capitalist paradise of freedom , i'm just saying the trends in each nation have reversed.
Dude, as early as the 1980's I was living in China,
And I noted 'wild west capitalism', and I saw Irish pub's open 24/7, and blues-bar's,... Not in the fucking west, every thing closes at 2am, for fear of the 'law'.
I saw apple cart vendors open any where they wish, and first day one apple, then with the profit buy 2 the next day, ... shit at the end of the month they could be selling a 1,000 apples or bottles of yoghurt a day, virtually anybody could build an 'empire' in a month and NOT ONE FUCKING PERMIT.
In the USA a child needs a $500 'food permit' to sell lemon-aide, ...
Nope 'capitalism' fucking god damn died in the USA more than 30 years ...
***
It's NOT so much capitalism, ... or communism, the USA is FASCIST, the BIG COMPANYS own the gubmint, and they make sure that if you want to spend your money, that they get 10% off the top at the ATM, .. and then they fuck you until its gone, and of course your a fucking slave in the system to get the money in the first place,
Back to CHINA, so anybody can be an entrepreneur, in the USA, even say opening a beer-biz, can literally making you INSANE, as there are 100's of agencys that tax you and inspect you, ... nope the USA is all about FUCKING PEOPLE.
The USA is a unique form of FASCISM, of FUCKERS and FUCKEE's, and the FUCKER's are hiding the FUCKEE's are out in the streets working and whoring,...
If you get sick in the USA, your broke, in most of the world, its just a few bucks to see a 'doc', no thanks
You ALL can shove the USA up your fucking arse,
I can bring in money from any of my chinese bank accounts in YUAN all day bring money into PAYPAL, yet the USA doesn't want me to have my money,... funny isn't it, better yet a few months ago I got mail & email from all my USA banks saying that it would now be almost impossible to wire my money abroad, I was sent the letters given I had a 'history' of such prior activity,
Taper,
"..and no, i'm not saying China is a capitalist paradise of freedom -------"
Surely, you are not implying that there is a capitalist paradise anywhere, are you? If so, please give us the coordinates on this earthly paradise.
There are nice places all over the world, even in China.
You just have to get the fuck out and travel to find them, and I'm not going to tell you where they are, cuz I don't want to see them destroyed.
Looks like its 90% US dollars being used to purchase new bitcoins ... makes me think someone is buying them up slowly to drive up prices. Then, a dump of their BTC all at once would crater the market i'm assuming. A good way to sucker people in and give bitcoin a bad name is to create instability. Anyone see why this would not be possible? (thats a serious question, i don't know the details of how BTC is traded or if its any different than any other "stock" as far as manipulating price with volume goes)
Haha! conspiracy! Might be... or the chinese dumping their dollars to crash america :P
this is already too silli with such a price jump.
May I ask where you get the 90 percent figure. I see more like a 50 50 split between China and USA with an occasional purchase in Euros and Rubles. This is from www. fiat leak.com.
EDIT: looked again and nearly all purchases coming from USA. Totall different story from 8 hours ago.
yeah i was watching the same site... this run up is nuts, its like someone is buying all dips all the time... maybe a few investors with deep pockets just decided its a lock and are accumulating.
Like when HUNT Brothers back in the 1970's 'bought all the silver' and ran it up, ... they lost what a billion dollars?
***
The cool thing about BTC is the con-artists can run it up, and never fear any fucking 'law' coming after their ass.
Yeah the methods of manipulation are something i've been thinking about... there is big incentive for governments/banks to cause volatility in the bitcoin market.. these run ups also draw lots of attention to bitcoin too though.... so not sure how effective a huge run up then slam down would be...
The MSM has been only putting out POSITIVE story's.
It is the GOAL of the New WOrld Order to move us to a CASH-LESS society, BITCOIN is a fucking trojan-horse.
I imagine soon BTC will be brought down, and replaced by a new crypto-currency called 'hope&change' with an image of saint-obama.
couple of closing thoughts fer tonight kiddies .... yeah, great way for the chinese to get out of some of their dollars. 2) man. it kinda looks like people like mt.gox are the real rubes, unless they are shovelling all those dollars right into btc as soon as they get them.
BitCoin High:$575.21111
And on a Sunday. If that don't beat all hell.
past $600....
I'm just getting started on this CPL person.
This is getting fun.
Capitalism abhors a vacuum. If there were truly demand for shorting BTC, why don't you set that up? Retire off of trading fees and membership dues. See also: https://en.bitcoin.it/wiki/Trade#Futures
Does a day go by on Zero-Head that they're not PIMPING bitcoin?
Why never a mention about all the people who have had their wallets stolen?
Just go to wikipedia and type 'bitcoin' and read all the shit about bitcoin users getting shafted.
The pimps keep talking about 'mining', now mining for bitcoin doesn't even pay for the hardware, and it costs more to mine a bitcoin that it does to pay for the electricity used.
New hardware ASIC chip-sets have increased the computation 100X in the past 6 months, making it impossible for the little guy to mine.
There are now bay-ahrea hedge funds financing bit-coin mining in china/india and the 'investors' are already suing the hedge-funds for failing to deliver.
The BTC has gone beyond fucking parabolic,
This is going to end very fucking ugly.
Actually there was a lot of skepticism here just a few weeks ago and I was trying to defend it amongst lots of down votes. Now it seems more are on board (but no, its still not a replacement for gold). ..but I will concede that something is odd with this run up. I wouldn't be surprised if it ends with a 50% retracement or more... but i'm betting its more than just a fad in the long run... I am however curious what governments (or should I say the bankers that more or less own/control those governments) will try to do about it since it threatens their entire ponzi scheme.
Well about six months ago 'mining' on a PC became impossible, as folks started using specialized Hardware that cost $20k, then dropped to $200, and now below $10, ( Google ASIC MINING BITCOIN ), and learn about this stuff on eBay.
What has happened since April is that all the coin's that should have been mined, have been now mined, and future coins are very rare, and of course selective media plants about guys having turned $17 of BTC into a million have been all over the MSM, so you know there is an orchestrated MSM desire to pump&dump, which means GUBMINT is involved.
There are now 100's of crypto-currency's all fighting each other, and it appears lite-coin, and bit-coin are out in the lead. But the 'mining' deal is effectively DEAD now, so that means that all newbies can only get COIN by bringing CASH to the table,
Like the man said "When BTC becomes a market of net sellers it will be fucking ugly, new coin is not coming in now, and there is a net of buyers', but the trend will not hold for long, as soon as the MSM starts talking about people get robbed in this PYRAMID-SCAM, then all will change,...
***
BTC mining is DEAD, power costs are now higher than ROI, and any HW purchase is a complete fucking loss.
So the 15 posts a day about Gold ain't pimping that?? ZH only posts about BTC because they would be fools to keep ignoring it while spouting all the 'fiat is shit' articles
Well 'gold pimps' is like the internet advertising nickels that keeps this servers power bill paid.
I notice also everyday another fucking post about Rogers, Faber, or GoldFuck in Canada.
Basically all the posts are about morons losing their money, to other morons, and very few of the OP's (original) are ever about BIS, or AIPAC.
Me thinks all this FAKE google, twitter, facebook 'social media' easy-cash is what's driving BITCOIN, as the nerds don't have any other place to park their money.
Another thing not mentioned.
There are only two fucking scenarios for BTC
1.) It was created by the NSA/CIA
2.) It was created by the US-MIL
There is no other fucking possible scenario, given that these boy's have the best crypto quantum technology, then can print 'money' when-ever they want if this shit goes mainstream, and thus like 'diebold voting', it becomes the ultimate fucking control,
The NSA creating 'wealth', who could have fucking guessed? With the ability to 'nab' wallets any time they wish, ... a fucking dream fucking hard-on for guymint full retards.
part of its attractiveness is that its not run by any government, if that changes, or people learn thats different, there will be an exodus into something else, the market at work.
del
Yep,
Great fucking marketing "ITS NOT RAN BY The GUBMINT"
It was FUCKING CREATED BY THE GUBMINT,
Sort of like TCP-IP, not ran by the GUBMINT, but CREATED by the DOD, back-doors and ALL.
There are no back doors in TCP/IP :) .. I know the protocols very well. That doesn't mean TCP/IP can't be used to access back doors in software though.
TCP/IP was designed to 'backdoor'.
There are an infinite number of backdoors.
That's why virus company's don't go away,
Like the say about 'windows', it was designed to be 'open' for a reason, same for TCP, it was never designed to 'secret' or 'closed',
Most likely this is why the NSA today has essentially gone public, and now the politicians have the US citizens conditioned to understand there are NO SECRETS, there never were,
If you think your passing money around the internet 'anonymous', then it is you that are the MORON.
carlin really showing the effects of stupid
Yep,
I remember 30+ years ago telling people that the NSA monitored and stored all call's, ... and they said that was paranoid and stupid, ...
Funny how what is fucking obvious can be labelled stupid.
All is a trojan horse the NSA gives you a doll-house and the key's to the door, and they give you a play-phone, ... and you keep all your valuables in that doll-house, and you chat with the other girls on your play-phone,.
Then your surprised someday when all your valuables are gone, and they know all your deepest secrets.
NSA created the encryption (SHA-256) used by bitcoins
I smell a trap, this thing is going to blow up................... no way in hell, the NSA/NIST created thie bitcoin encyption................. NO WAY IN HELL will the GOVT back this..........unless they plan to implement this thing into some RFID slave tag.
Fuck that shit.
If the NSA made this shit, its vulnerable and the government already cracked the encryption, all transactions will be trackable.
stackers are cowards
Long ago the NSA made 'DES', and it was discovered there was a backdoor, and after a shit-storm of denial, the NSA quietly backed away from DES, and pulled a new standard out of its ass and forced the NIST ( standards ) to use it, AES
Of course we also know that AES has 'backdoors'....
It never fucking end's, long ago the NSA had a super-secret 'law' it said that making available an encryption-technology that the NSA couldn't break, was the same as possessing a bomb.
If you actually had an encryption algo that the NSA couldn't break, your ass would be in prison.
http://coinpolice.com/coin-comparison/
There are 100's of crypto-currency's, this website lists many, and also lists which ones are making money for the miners, ...
The good, bad, and ugly,
Note all is in reference to BTC for comparison.
Bitcoin now
$600 / EURO 450
Asia is buying!
Realtime quotes & news:
http://btcpost.net/index.php