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Democratizing Gold?

Tyler Durden's picture





 

Submitted by Adam Taggart via Peak Prosperity,

What if you could carry and exchange gold in the exact same manner as you do with the dollar bills in your wallet?

I've recently been introduced to a technology that's making this possible.

In today's podcast, I speak with Adam Trexler, President of Valaurum, about this technology and the gold-infused notes it creates. Valaurum's mission is to democratize ownership of gold by converting it into a form affordable to anyone.

Democratizing Gold

In short, a fractional gram's worth of gold is affixed to layers of polyester, creating a note called an "Aurum" similar in dimension and thickness to a U.S. dollar bill. This gold (usually 1/10th or 1/20th of a gram) is commercially recoverable. So an Aurum offers similar potential as a coin or bar, in terms of providing a vehicle for storing and exchanging known, dependable increments of precious metals just in much smaller (and more affordable) amounts than commercially available to date.

The big idea here? In a world where a 1oz coin of gold costs over $1,200, an Aurum will let you hold a few dollars' worth of gold in a single note. If you've got pocket change, you can be a precious metals owner.

And you don't have to change your behavior. You can store and transport an Aurum in your billfold along with your dollars.

Understanding the Aurum

As the saying goes, a picture's worth a thousand words. Here's a picture of an Aurum designed for Peak Prosperity that the Valaurum team produced for us:

(click here to purchase)

You'll see that with even just 1/20th of a gram of gold involved, it's enough to make the Aurum appear to be "made of" gold. The characteristic luster, color, and shine of the 24-karat gold used is immediately apparent.

The Aurum is designed to be handled in the same manner as we do with our "paper" money. And, despite having a more 'plastic' feel to it (resulting from the polyester backing), it's as flexible, lightweight, and familiar-feeling as paper currency.

The big difference, of course, is that instead of being a claim on something else, it simply is what it is: a fractional gram of gold. It can be stored, traded, or melted down just like a coin or bar.

Here's a brief video that gives an overview of the production process:

 

Implications

Being able to hold gold in this form is significant for several reasons. 

First, it makes gold ownership available to all budgets. Many of the world's households have been priced out of gold to date. This changes that completely.

Second, it enables the potential for everyday transactions should we ever return to a precious metal-backed monetary standard. It answers the challenge: How will you pay for your groceries with gold? With an Aurum, it's now easy.

Whether Valaurum's product emerges as the winning horse or not, the world definitely needs this type of solution (i.e., convenient fractional physical metal) to go mainstream. 

I'm very excited by this new innovation in the bullion industry, and I explore the matter in depth in this podcast. If you're similarly intrigued, it's worth the listen.

And for those of you interested in owning an Aurum of your own, you can learn how to purchase the Peak Prosperity Aurum pictured above by clicking here.

Click the play button below to listen to my interview with Adam Trexler (36m:59s):

 

 


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Mon, 01/20/2014 - 18:07 | Link to Comment Looney
Looney's picture

I have a huge respect for all Goldbugs out there and agree with ABSOLUTELY all reasons for being a Goldbug.

However, these assholes upstairs WILL make holding/transacting in it as illegal as drugs, just as they did before.

Looney

Mon, 01/20/2014 - 18:07 | Link to Comment Scarlett
Scarlett's picture

here comes f******g fonestar...

Mon, 01/20/2014 - 18:10 | Link to Comment fonestar
fonestar's picture

Yes, here I am.

Incidentally, supposing the government actually did move to ban gold/Bitcoin/sea shells.... (whatever else) would anyone here actually obey them?

Mon, 01/20/2014 - 18:13 | Link to Comment Scarlett
Scarlett's picture

god damn

Mon, 01/20/2014 - 18:45 | Link to Comment SilverIsKing
SilverIsKing's picture

Good call

Mon, 01/20/2014 - 18:57 | Link to Comment aVileRat
aVileRat's picture

God damnit, Phonystar has taken "talking your book" to an art form. Next time Carl iC. goes on stage at the comedy club, someone please suggest 'bitcoin nerds' as a set-up line. This guy is well beyond annoying. 

 

 

Mon, 01/20/2014 - 19:08 | Link to Comment fonestar
fonestar's picture

I offer annoyance and trolling consultation.  0.12 BTC/hr.

 

1Aeg6RfVjiifEpD91VZRbH5KJPcQLhFZNJ

Mon, 01/20/2014 - 20:37 | Link to Comment philipat
philipat's picture

"Incidentally, supposing the government actually did move to ban gold/Bitcoin/sea shells.... (whatever else) would anyone here actually obey them?"

No but it will be best to have a bag packed in anticpation of men with dark glasses in a black SUV.

Mon, 01/20/2014 - 21:03 | Link to Comment giggler321
giggler321's picture

Assuming gov can afford black SUV's and well employing men to collect when there is no coffers

Tue, 01/21/2014 - 00:00 | Link to Comment BoNeSxxx
BoNeSxxx's picture

1 Gram gold bar on Apmex = $50.

1 Gram Valaurum = $100.

FAIL

Tue, 01/21/2014 - 03:19 | Link to Comment stacking12321
stacking12321's picture

i agree they need to bring the cost down closer to spot to make their product palatable, but cut them some slack, they need more volume to get there i'm sure.

i'd be happy to see this product taking off, being able to use real money (gold) instead of FRNs.

Wed, 01/29/2014 - 13:22 | Link to Comment Jack Napier
Jack Napier's picture

Half of the point of holding gold and silver is that you can't track the stuff. The other half being protection from default and inflation at the same time.

If the government made everything illegal overnight, guess which money people would still be able to use without them knowing.

Hint: It ain't BitCoin.

Tue, 01/21/2014 - 06:05 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

it's all about format. Pound the 1 gram yourself into a sheet like a paper bill.
See which one is easier to lose in your pocket.
I don't want any as I care to have my 0.1 oz maples & my silver maples & bars.
But I don't begrudge others wanting physical in a format that suits them.
In the end when gold's purchasing power exceeds 7000/oz in today's purchasing-power-dollars it really won't matter.

Tue, 01/21/2014 - 08:44 | Link to Comment BoNeSxxx
BoNeSxxx's picture

That was my point exactly.  If the Prescious were to go to $7,000/oz, you'd be fool not to buy twice as much now in the form of gram bars (and why would you pound a gold gram flat)?  $50 is a 1/2 cart of groceries today.  And it will be a 1/2 cart of groceries at when gold is $7,000/oz too (priced in FRNs).

Perfectly barterable size in my view.  Call me when these bills are priced at spot or spot +10%.  Until then, I will use my FRNs as cost effectively as possible when stacking.

Tue, 01/21/2014 - 19:17 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Some people like flat leafs of money better than coins.
It's a preference.
Vietnam did that with gold taels.

Some things have a premium that doesn't change the same way with spot rising. For example, for the last 2.5 years my 0.1876 troy oz content (90% gold) coin, 20 francs Leopold II, has been around $360 CAD. Gold moved a lot, coin price did not.

Perhaps over time these bills would be like that. I certainly don't pay spot +10% for my 0.1 oz maples - they cost at least 22% over spot including shipping because if you want a smaller % you buy a larger size, period. 0.1 oz sounds perfect for bartering to me, however, whereas 1/2 oz gold is too precious. I don't buy that much groceries in one lot in one store & I wonder what I'd get in change - if any - because in SHTF change doesn't always happen.

Tue, 01/21/2014 - 09:59 | Link to Comment painlord-2k
painlord-2k's picture

But how many MIBs the government have?
Because I foresee a certain degree of attrition if they go house by house asking for gold and bitcoin.
If they have a small number they will not able to affect the market and they will go after the easy targets only (like with speeding tickets).
If they have a lot, they will have to make contact with a lot of unsavory characters and this will cause a lot of work to do and a lot of injuries and losses (like going after all pot dealers).

Are the MIBs to be trusted by the government?
Maybe, just maybe, they will find dealing with the stuff will be more profitable than shutting it down completely. 

Mon, 01/20/2014 - 18:20 | Link to Comment Landotfree
Landotfree's picture

Once this system blows up the least of your worries is going to be about whether or not the government thinks you can own gold.   IMHO 100s of millions if not billions of walking unfunded liabilities will have to be liquidated.   

BTW the government has no rights to imped my God given Rights.  

Mon, 01/20/2014 - 18:23 | Link to Comment fonestar
fonestar's picture

Yes, If I want to send 18,000,000,000 satoshi to some shady character in Syria or Lebanon that is my God-damned given congresstitutionalist right.  And there's fuck all the government can do about it!

Mon, 01/20/2014 - 19:00 | Link to Comment ZerOhead
ZerOhead's picture

"And there's fuck all the government can do about it!"

 

Bwahahahaha!

Mon, 01/20/2014 - 19:12 | Link to Comment fonestar
fonestar's picture

Please explain what they could do about it?

Nothing.

Mon, 01/20/2014 - 20:07 | Link to Comment Abitdodgie
Abitdodgie's picture

Fonestar , I admire you for your determination with the Goldcoin bugs , but I feel they are not going to get it.

Mon, 01/20/2014 - 20:10 | Link to Comment fonestar
fonestar's picture

I don't care if they "get it".

I'm like Candyman, but you only have to say Bitcoin once for me to appear.

Mon, 01/20/2014 - 20:14 | Link to Comment fonzannoon
fonzannoon's picture

Gold or no gold, bitcoin or no bitcoin. Anyone who refers their avatar in the 3rd person is a total putz. It's like Rickey  Henderson took a dump.

I can see why Chumba is on here. I understand why he retired from the comments section. I am trying to as well. You really want to see new people come on here and take over but this is like watching monkeys sling their shit all over the place. Pathetic.

Mon, 01/20/2014 - 20:22 | Link to Comment fonestar
fonestar's picture

We don't have family names and christian names in the virtual world like you do in the p-world.  That's also why fonestar is never capitalized.  

fonestar forced many posters into early retirement.

Mon, 01/20/2014 - 20:26 | Link to Comment fonzannoon
fonzannoon's picture

You probably have. I can only imagine how much time and effort you have spent to send us into early retirement. Actually I think this sets the scene pretty well.

http://www.youtube.com/watch?v=oNsMgl9KKIA

Mon, 01/20/2014 - 20:36 | Link to Comment fonestar
fonestar's picture

fonestar had a similar effect upon the comments section of cnbc.com in June 2012.  It would appear that fonestar was about as popular with the stawks crowd as with the metals-only crowd.

Mon, 01/20/2014 - 20:41 | Link to Comment fonzannoon
fonzannoon's picture

Many people on here own bitcoin. It is a great medium of exchange. Granted it is 100% traceable and does not avoid taxation, so it is a governments dream. The slamdowns are something you have to put up with, but hey, it's the government, they run the show in the digital world.  But It beats wire transfers and is pretty easy to use. I'm okay with it. I'd use cash for any transactions that I don't want tracked. 

Mon, 01/20/2014 - 20:31 | Link to Comment chumbawamba
chumbawamba's picture

Actually, fonestar is an anagram of "one farts".  Coincidence?

I think not.

I am Chumbawamba.

Mon, 01/20/2014 - 20:32 | Link to Comment Suisse
Suisse's picture

Did you ever get your IRS issues sorted out chumbawamba?

Mon, 01/20/2014 - 21:36 | Link to Comment chumbawamba
chumbawamba's picture

Not exactly, but because I'm between realities right now they can't find me, and presently I have no assets to which they might attempt to attach a lien, I have nothing to worry about.  Nonetheless, when I return, even if they do recognize me, they won't be able to come near me without self-immolating.

The IRS is a paper tiger.  In short, they can only go after you if you don't know how they work.  The IRS is a glorified collection agency for the Federal Reserve System.  If you've ever dealt with a debt collector, and took some time to study the law a little, you realize you can make them go away pretty readily with a simple debt validation demand.  Well, guess what?  The IRS has the same duty to validate their claimed debt as any junk debt collector does.

And they never will.  Or even can.  Because you see, the "debt" here is one that they could never validate, or at least if they tried, they would blow the lid off of their scam and everyone would see the emperor has no clothes.  The way you become liable to paying income taxes is your volunteering to do so by signing a contract with the IRS at the beginning of every year to do just that.  It's called the W4 form, and your employer tells you it's mandatory, but unless you are one of the few people that is directly employed by the federal government in some manner, or derived your salary from a government source, it's not, and you aren't liable for income taxes.  And if the employer threatens to fire you if you don't sign it, they're toast, because they can't make you.  That's the gist of it, but it won't make sense, and you won't be successful in your attempts to fend them off should you decide to leave the plantation, unless you take the time to do the requisite research yourself.

The best resource for learning all about the history of the income tax and the IRS in the United States is here:

http://www.supremelaw.org/fedzone11/

Take your time and really absorb the material.  It's all there in black and white facts.

I am Chumbawamba.

Mon, 01/20/2014 - 22:13 | Link to Comment lincolnsteffens
lincolnsteffens's picture

Thanks Chumba,

I think you are correct but I can't figure out the whole mess yet. One problem I foresee is if you

can in any way be considered a citizen of the Corporate Federal Government you are a taxpayer. This

is done through fraudulent contracts such as the birth certificate, social security, driver's license and

voter registration. I've revoked my voter registration and am working on the driver's license fraud.

I'll check out the site.

LS, the Muckracker

Tue, 01/21/2014 - 01:19 | Link to Comment chumbawamba
chumbawamba's picture

Yes, and it's a real uphill battle in court.  However, if you know how to play the game, you can force them to prove the claim.  The one making the claim has the burden of proof, so if they say you are a taxpayer, a driver, a voter, etc. they need to bring the proof.  Keep the ball in their court and they will eventually foul, and they'll quit the game, and you win.

It's really as simple as that.  Once you know how the game is being played, you will beat them every time.

I am Chumbawmaba.

Tue, 01/21/2014 - 02:15 | Link to Comment Four chan
Four chan's picture

schiffs dad was the master, and hes locked up.

and even though he was right and you are too

take it from a fellow patriot from michigan,

don't throw yourself in front of the juggernaught.

 

john gault will show you the way..out.

Tue, 01/21/2014 - 08:11 | Link to Comment Papasmurf
Papasmurf's picture

If you don't have a job and you have no assets to attach, they're outta there.  Their agents go after the large low-hanging fruit.  They won't put a lot of effort to get little return.

Tue, 01/21/2014 - 00:09 | Link to Comment BoNeSxxx
BoNeSxxx's picture

Chumba,

I came across an interesting paper on this very topic in some old source materials a friend sent me... It may all be old news to you but it's 100 or so pages so there may be something of interest to you in it.

Hit me up at my username at gmail and I'll send you a copy.

BoNeS

Tue, 01/21/2014 - 14:14 | Link to Comment Silveramada
Silveramada's picture

or was fagstar?

Tue, 01/21/2014 - 06:13 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

satoshiman

Satoshiman

SATOSHIMAN!!!

Tue, 01/21/2014 - 06:01 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

#1 track your IP

#2 black bag on your head

#3 GITMO

end of story. CSIS would GLADLY help the Murrikinz come git ya & no other Canadians would question it.

Mon, 01/20/2014 - 21:59 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Newsflash: Until "God" or any other deity steps up and says you/we "have rights", you/we don't have any.  Other than those that you/we fought for with blood, sweat & tears. 

And 1776 is too long ago to still count, judging by the behavior of the Oligarchs.

No offense intended, but if you don't want to be treated like a sheep or a serf, stop talking, walking and acting like one. 

Tue, 01/21/2014 - 01:24 | Link to Comment chumbawamba
chumbawamba's picture

Straight up.

I am Chumbawamba.

Mon, 01/20/2014 - 18:56 | Link to Comment Pseudonymous
Pseudonymous's picture

 

 

Incidentally, supposing the government actually did move to ban gold/Bitcoin/sea shells.... (whatever else) would anyone here actually obey them?

I certainly wouldn't. I don't think any honest person here would.

Mon, 01/20/2014 - 19:13 | Link to Comment seek
seek's picture

When gold possession was made illegal in the 1930s, I think there was a total of one prosecution.

While I'm sure thanks to the NSA they have a list of initial transactions that might let them try to prosecute more this go-round, that says nothing about where the gold goes after the fact, making recoveries nil. Plus prosecutions will likely take longer than the system will last once they get to the point of banning gold.

All a new "ban" on gold will do, like the same bans on drugs, is force transactions underground and stop transactions within the "legitmate" banking system, which will buy TPTB at most a day or two of additional life given how little Au is actually held by the public in the US.

Mon, 01/20/2014 - 19:24 | Link to Comment bronzie
bronzie's picture

and the one prosecution was against someone storing a large amount of bullion in a bank and then having the balls to ask for it back

nobody went to the farm houses and knocked on the door: "excuse me sir, we've now made it illegal for you to hold gold - would you please hand over those $5 gold coins you are saving for your children?"

Mon, 01/20/2014 - 20:52 | Link to Comment XitSam
XitSam's picture

In 1933, each person was allowed to keep 5 double eagles (a little less than 5 oz) in addition to numismatics.

Mon, 01/20/2014 - 21:04 | Link to Comment giggler321
giggler321's picture

and with today's inflation thats?

Mon, 01/20/2014 - 23:19 | Link to Comment XitSam
XitSam's picture

5 ounces of gold then is 5 ounces of gold now. How amazing is that?

Tue, 01/21/2014 - 03:45 | Link to Comment giggler321
giggler321's picture

So they only let you have 5 because it's 5 and nothing to do with the dollar converted amount at the time?

Tue, 01/21/2014 - 00:00 | Link to Comment Dinero D. Profit
Dinero D. Profit's picture

There will be sting operations galore if gold is outlawed. 

Mon, 01/20/2014 - 20:08 | Link to Comment Abitdodgie
Abitdodgie's picture

The NSA could not find their way out of a wet paper bag.

Mon, 01/20/2014 - 20:05 | Link to Comment jbvtme
jbvtme's picture

fonemeister...i just up arrowed you and got two up and three down.  something is horribly wrong

Mon, 01/20/2014 - 20:09 | Link to Comment Abitdodgie
Abitdodgie's picture

That happened to me , I just thought it was heavy traffic. I got one up one down.

Mon, 01/20/2014 - 20:22 | Link to Comment GeezerGeek
GeezerGeek's picture

Ever stop to think that others are up-arrowing and down-arrowing while you're reading? You only see the updated results when you yourself click up or down. As with so much else in life, it's a matter of timing.

Mon, 01/20/2014 - 20:51 | Link to Comment silverserfer
silverserfer's picture

no, you just have to understand the level of stupidity of these bitcoin monkies and it makes perfect sense. the arrow thinggies are just like tinsel to a trout.

Mon, 01/20/2014 - 20:53 | Link to Comment fonestar
fonestar's picture

We will see who was stupid when I take your whole stash of shiny off you for a couple satoshi, won't we?

Mon, 01/20/2014 - 21:14 | Link to Comment chumbawamba
chumbawamba's picture

He will definitely be the stupid one if he trades physical metal for a digital fart.

I am Chumbawamba.

Mon, 01/20/2014 - 21:27 | Link to Comment fonestar
fonestar's picture

I have sold much physical gold and silver and converted it into Bitcoin.  It is required if one is to reach Satoshi conciousness.

Tue, 01/21/2014 - 01:25 | Link to Comment chumbawamba
chumbawamba's picture

So let me get this straight: in order to become a douche, one needs to sell their gold and silver?

Noted.

Thanks, sport.

I am Chumbawamba.

Tue, 01/21/2014 - 02:53 | Link to Comment RideTheWalrus
RideTheWalrus's picture

Who is Satoshi?
Who created Bitcoin?

The two most basic questions no bitologist can or will answer.

Don't invest until they do.

Tue, 01/21/2014 - 03:46 | Link to Comment stacking12321
stacking12321's picture

yes, that makes total sense.

also, don't turn on your computer unless you know who invented the first computer, don't go on the internet unless you know who invented html, and don't drive down any road or cross any bridge unless you know the names of all the people who worked on them.

Tue, 01/21/2014 - 05:54 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

I learned all the origins & how it works, how it was made, right away when using it.
If you wouldn't... you will be a target.

Tue, 01/21/2014 - 05:55 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

#1 there won't be a grid for you to trade them

#2 they will go to zero before you even try

#3 none of us with real money has any use for btc or fractions of them. We have the goods you want & we don't want bitcoin.

Tue, 01/21/2014 - 08:18 | Link to Comment Papasmurf
Papasmurf's picture

The system is correcting abherrant behavior.

Mon, 01/20/2014 - 20:46 | Link to Comment TheReplacement
TheReplacement's picture

+1 for truth.

+100 for timing.

Mon, 01/20/2014 - 23:10 | Link to Comment Drifter
Drifter's picture

Yes, and the govt would prosecute a few like you to keep everyone else obeying.

Tue, 01/21/2014 - 07:05 | Link to Comment realWhiteNight123129
realWhiteNight123129's picture

At this point seashells have been a better store of value than the USD.

Mon, 01/20/2014 - 18:13 | Link to Comment Chuck Norris
Chuck Norris's picture

If I needed fractions of gold I'd just use silver coins.  Duhh.

Mon, 01/20/2014 - 18:14 | Link to Comment fonestar
fonestar's picture

And if you needed to send them you would just shove them into an ethernet port and blow real hard.

Mon, 01/20/2014 - 18:18 | Link to Comment chumbawamba
chumbawamba's picture

That sounds a lot like what you do.  With smoke.  Up peoples' asses.

I am Chumbawamba.

Mon, 01/20/2014 - 19:12 | Link to Comment MsCreant
MsCreant's picture

Since when did you get so polite? I kind of focused on the blowing part. I can see him with knee pads...

Mon, 01/20/2014 - 20:08 | Link to Comment chumbawamba
chumbawamba's picture

It was easier to work with that analogy in the limited time I had to respond.  This is like Speed Chess, you only have so much time to make a move ;)

-Chumblez.

Mon, 01/20/2014 - 21:06 | Link to Comment giggler321
giggler321's picture

That sounds a lot like what you do.  With smoke.  Up peoples' asses.

Talking of smoke, what's the figure for the number of times a note today has passed through a drugies under pants?  Wonder what a gold note will do after that.

Mon, 01/20/2014 - 18:18 | Link to Comment negative rates
negative rates's picture

That's why we have checks, and balances. Shit disappears at target and all one can think of is digital currencys.

Mon, 01/20/2014 - 18:20 | Link to Comment fonestar
fonestar's picture

How have your checks and balances been working out for you the past one-hundred years?

'tarded.

Mon, 01/20/2014 - 19:31 | Link to Comment CH1
CH1's picture

That's why we have checks, and balances.

Shit, that failed with Marbury v. Madison.

Mon, 01/20/2014 - 22:06 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Hate to pop the someone's bubble, but the last wave of removing Checks & Balances washed out with the Reagan/Bush Administration -- who labeled it "Deregulation".  Nice Madison Avenue move.

The gullible/malleable masses on both sides of the GOP/Dem aisle bought it.  The GOP more so, as stats show.  We haven't stopped "deregulating" since.

Tue, 01/21/2014 - 02:39 | Link to Comment Liberty2012
Liberty2012's picture

You must have an unusual definition of deregulation. How many thousands of pages of new rules have been added lately? 80,000?

Tue, 01/21/2014 - 06:26 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

shit, I thought it was when silver & gold weren't permitted by the overlords to be money anymore.

Mon, 01/20/2014 - 18:28 | Link to Comment Mercuryquicksilver
Mercuryquicksilver's picture

You didnt answer me before. Why is bitcoin better than nofiatcoin? Nofiatcoin uses PM as backing while being "cryptocurrency."

Explain.

Mon, 01/20/2014 - 18:41 | Link to Comment fonestar
fonestar's picture

That's easy.  Backing can be stolen by dumb people with guns (think government).  Bitcoin is backed by math.

Mon, 01/20/2014 - 18:45 | Link to Comment chumbawamba
chumbawamba's picture

You're a one-trick fag with your bitcoin hijinx.  You pimp it like it paid your bills.  Bitcoin is great as a concept, but not as a currency, because its hashing algorithms were designed by the NSA and either have backdoors built-in or are purposefully compromised (it's no secret, look it up).  You know or should know about this, which means you're a shill.  If you don't, it means that you're a fucking idiot, trying to sell something about which you are poorly informed.

Tell us which it is.

I am Chumbawamba.

Mon, 01/20/2014 - 18:46 | Link to Comment fonestar
fonestar's picture

You're wrong about everything and you're also an idiot.  This is fonestar's forum now, go away.

Mon, 01/20/2014 - 18:53 | Link to Comment eclectic syncretist
eclectic syncretist's picture

Fonestar, you are a turd molester.

Mon, 01/20/2014 - 19:47 | Link to Comment chumbawamba
chumbawamba's picture

I mostly retired from the comments to allow new voices to come into the picture and blossom.  Since my time, many have come and gone, but of those, you're no daisy.

Let me know when you say something extraordinary so that I can actually feel compelled to respond.  Everything else here has been contrived in an effort to give you a chance to prove you got something.  Like I said, throw down.

I am Chumbawamba.

Mon, 01/20/2014 - 19:51 | Link to Comment fonestar
fonestar's picture

Kinda looks to me like fonestar threw down this entire post.

Mon, 01/20/2014 - 20:10 | Link to Comment chumbawamba
chumbawamba's picture

Yeah, you threw that entire post down on your foot.  It's like your face keeps swiping itself upside my extended palm and fingers.

Let me know when you've had enough warm-up time.

I am Chumbawamba.

Mon, 01/20/2014 - 21:53 | Link to Comment DirkDiggler11
DirkDiggler11's picture

It's dick-heads like CumGuzzlingStar why I read less and less on ZH each week. Instead of thought proving commentary and comments form people that actually know what they are talking about you get annoying assholes like this that add nothing to the conversation on the topic at hand. So, instead of challenging my own beliefs or learning more about history, FX, some Econ, and various other topics through a different colored lense I get to watch folks like this derail an entire thread and carry on a conversation about nothing just because they like to hear themselves talk. Grow the fuck up Fonestar and stop fucking up every thread with your bullsihitl. You actually have value added insights at times but they are far overshadowed by your constant posts on Bitcoin derailing almost every thread on ZH. The quality of material on ZH appears to diminish at now an exponential rate, and hell i haven't been reading on this site that damn long, just over a year. Too bad you can't just put some fuckers on mute, Yea, it's free speech and all but I don't want to hear some felchers talk out their ass all of the time. Enough said.

Mon, 01/20/2014 - 22:42 | Link to Comment RebelDevil
RebelDevil's picture

Why the hell do you think the Tylers never comment anymore? It's simply pointless for the most part - Any rationalist has to just laugh at the bullshit of the comment section, as the golden info was always in the articles.

Tue, 01/21/2014 - 06:22 | Link to Comment MeelionDollerBogus
Tue, 01/21/2014 - 08:31 | Link to Comment Papasmurf
Papasmurf's picture

We need the old crew back from 2009.  I learned something every night back then.  Not so much these days.  At this point the forums need moderation, with zealots like phoneystar banned when discussion turns into incessant irrational blather.

Mon, 01/20/2014 - 18:50 | Link to Comment Skateboarder
Skateboarder's picture

I have an update on the Silicon Valley bitcoin billboards for you guys. The bitcoin logo billboard ('09 - '11) that was replaced by the "Bitcoin, the honey badgre of currencies" billboard ('11/'12 - '14), has been replaced again by the billboard which now reads "Bitcoin, the honey badger of money."

I saw that shit yesterday and said "awww hellll nawwwwww."

Mon, 01/20/2014 - 18:57 | Link to Comment fonestar
fonestar's picture

Bitcoins are money, everything else is just shiny shit.

Mon, 01/20/2014 - 19:07 | Link to Comment fonzannoon
fonzannoon's picture

This place has truly gone full retard.

Mon, 01/20/2014 - 19:16 | Link to Comment MsCreant
MsCreant's picture

No, just that guy. I swear. Come back to us baby. Snap out of it. 

Mon, 01/20/2014 - 19:21 | Link to Comment fonzannoon
fonzannoon's picture

It's good to see you and chumba having some fun on here. Also it was excellent usage of fag. I would have just gone with the link but chumba laid it out there. Good for him, and you....

http://www.youtube.com/watch?v=YTIdmCwAPpg

Mon, 01/20/2014 - 19:18 | Link to Comment MsCreant
MsCreant's picture

Step away from the bitcoin salesman...

Mon, 01/20/2014 - 19:21 | Link to Comment fonestar
fonestar's picture

Buy Bitcoin now or wait until Bitcoin is $10,000.  Your choice.

Mon, 01/20/2014 - 19:44 | Link to Comment chumbawamba
chumbawamba's picture

Wow, when Bitcoin is at $10,000 I can buy your mother 500 times.

I am Chumbawamba.

Mon, 01/20/2014 - 21:37 | Link to Comment gezza65
gezza65's picture

Don't get me wrong I'm all for alternatives to the current system.

However, two things really bother me about Bitcoin and other eCurrencies;

1.  Exchangability is dependent on the internet.  No internet and Bitcoin or any other eCurrency is worthless.

2.  Total dependence on the availability of electricity.  No electricity no power and again eCurrencies are effectively worthless.

If the shit REALLY hits the fan you're better off with bic lighters, whisky, chocolate, ammo etc.  I recommend reading the experiences of residents of Sarajevo during the Bosnian civil war. 

 

Mon, 01/20/2014 - 22:03 | Link to Comment MsCreant
MsCreant's picture

http://www.thepowerhour.com/news/items_disappearfirst.htm

This list was generated by a woman who went through just that experience.

Tue, 01/21/2014 - 04:03 | Link to Comment stacking12321
stacking12321's picture

true, electricity is more or less required for bitcoin usage.

but, why should that stop you? why not make use of it for now and enjoy the benefits of bitcoin for now, seeing as how we do currently have electricity, instead of worrying about what might happen someday?

i don't invest vast sums of money in bitcoin, but i try to use it whenever i can, and keep an eye on where it's going, it has huge potential.

 

Tue, 01/21/2014 - 06:16 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

grid was down where I was too.
No bitcoin could be used.
OR electronic fiat.
Cash in hand, goods in hand, nothing else.

Tue, 01/21/2014 - 06:14 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

10,000 bitcoins for a dollar? Still over-priced.

Tue, 01/21/2014 - 01:38 | Link to Comment tip e. canoe
tip e. canoe's picture

it's being done on purpose

Tue, 01/21/2014 - 19:25 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

th3 b1tco1nz haz teh invulnerabl3z, iz l33t d00d.

Pretending global warming is a hoax: screaming monkeys

Pretending it's right & libertarian to deny a woman the choice to have an abortion: monkeys flinging poo

Pretending electrons are money: LSD-drugged monkeys fed food-colouring to ensure their poo is rainbow coloured when flung.

Oh  ya. Taste the muthafuckin rainbow, hedgies, Fonuel L Jackstar is on the loose. Say What Again.

Tue, 01/21/2014 - 06:06 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

only that which has an atomic nucleus is money. Everything else is just a debt token.

Mon, 01/20/2014 - 19:37 | Link to Comment Mercuryquicksilver
Mercuryquicksilver's picture

You don't even know what you are talking about. Nofiatcoin IS bitcoin with gold. Do you even know about competing "crypto's"?

 

The only thing you are doing is turning people off to alternative currencies. Good job.

Mon, 01/20/2014 - 20:02 | Link to Comment fonestar
fonestar's picture

Yes, I am aware of NoFiatCoin and it is a terrible idea.  It's a hybrid P2P network (not true P2P) along the lines of gnutella network.  So all someone who owns an aircraft carrier or some jet fighters has to do is go blow up and steal your "backing".  I don't want any physical gold messing up my Bitcoin.

Dumb.  Dumb.  Dumb.

Mon, 01/20/2014 - 20:15 | Link to Comment chumbawamba
chumbawamba's picture

You inadvertently made the only valid point of every stupid word you've ever posted to Zero Hedge.  Currency should not only never be backed by a physical commodity but the currency unit itself should not be in the form of any physical token, otherwise you end up with deflation, manipulation, and centralized control.

I know you're too primitive to understand the concept so I'll just stop there, but other people are welcome to inquire.

I am Chumbawamba.

Mon, 01/20/2014 - 22:20 | Link to Comment LosOsos
LosOsos's picture

If you don't back a currency with a physical commodity what do you back it with? Energy?

 

Is your argument that since there is necessarily a limited supply of any physical commodity the money supply is restricted leading to deflation and that it can be controlled by the use of force, which is concentraed in centralized control.

Tue, 01/21/2014 - 05:59 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

nothing about a physical currency requires deflation or centralization.
Deflation, also, is a GOOD thing. Value of savings goes UP with deflation which is a #1 optimal goal.
The hardest hit deflation is in the computing industry. The result is ubuquitous computing in watches, phones, netbooks & amazing power in desktops compared to even a year before, every single year.
Just imagine if food got more delicious by that much, or nutritious, or more plentiful in the same way.
Deflation is a god-send.

Mon, 01/20/2014 - 20:17 | Link to Comment fonestar
fonestar's picture

.....and NoFiatCoin also has the worst name of all the alt-coins.

Mon, 01/20/2014 - 20:24 | Link to Comment chumbawamba
chumbawamba's picture

Speaking of gay names, what's up with "fonestar"?

I am Chumbawamba.

Mon, 01/20/2014 - 22:18 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

For the sake of those who have not seen it before, or those who suffer from Adult-ADD... pitting Gold vs. Crypto-Currencies is a FALSE argument -- designed to deflect and redirect from the TRUE argument:

PARALLEL ECONOMY = Barter + Cash + PM + BTC/LTC + Real_Assets... = Free-market driven

OFFICIAL ECONOMY = Fiat Debt_Currency + Debt (Credit) + Bonds + Derivatives = CB-driven

Get clarity, pick a side and keep your focus. 

(Personally, I'm in favor of having a mix from the Parallel Economy.  What one asset (vehicle) won't do for you, another one will -- depending on the circumstances and goals.)

Mon, 01/20/2014 - 22:47 | Link to Comment RebelDevil
RebelDevil's picture

Finally, someone who knows their shit!

Tue, 01/21/2014 - 01:44 | Link to Comment tip e. canoe
tip e. canoe's picture

earth to kirk:

on this planet at this moment,

cash = fiat debt currency

Tue, 01/21/2014 - 03:03 | Link to Comment Liberty2012
Liberty2012's picture

Very well said, Thank you!

Tue, 01/21/2014 - 06:38 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

There is no parallel economy.
That which has value is worth holding or trading for other value.
That which has no value - debt tokens of fiat or arbitrary digital WoWness - need not be used.
It will not be accepted.

Mon, 01/20/2014 - 18:40 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

we don't need ethernet ports for transactions.
We need fingers, hands, guns/knives & good reflexes with physical currency.
You don't stand a chance in the world that's coming.

Mon, 01/20/2014 - 18:45 | Link to Comment fonestar
fonestar's picture

Bitcoin will thrive while your intrinsic pecker bills will flail.  Ask feudal Japan how economic isolation worked out for them?

Mon, 01/20/2014 - 18:47 | Link to Comment chumbawamba
chumbawamba's picture

Time for silly clowns to stuff themselves in the car and drive off:

http://forums.thechaniproject.com/topic/6465-bitcoin-was-created-by-darp...

I am Chumbawamba.

Mon, 01/20/2014 - 18:52 | Link to Comment fonestar
fonestar's picture

The internet was created by DARPA and I also don't care.

Mon, 01/20/2014 - 19:35 | Link to Comment chumbawamba
chumbawamba's picture

I know you don't care, because you don't actually use BTC yourself.  You're just here to try to get as many other people to use BTC as you can, piping people right back into the loving arms of the banksters.

You're not even clever.  I thought I'd come here and spar with the rookie but if you're the best that ZH has to offer these days then the quality of the management here as really gone down.  The entertainment sucks and I want my money back.  You're a pansy and hardly worth my time.  No, wait, you are absolutely not worth my time.

I am Chumbawamba.

Mon, 01/20/2014 - 19:40 | Link to Comment fonestar
fonestar's picture

Go look up my addresses on blockchain.info if you want to see if I have been using Bitcoin.  I am a supreme and fanatical devotee of Satoshi Nakamoto and I will kill those who oppose Bitcoin or even question Bitcoin.

16bY6d2wisEZ78pU6UaYf6fedmN4fBhsfF

Mon, 01/20/2014 - 19:51 | Link to Comment chumbawamba
chumbawamba's picture

Right.  That's either a random string of letters or the wallet address of an exchange or someone who actively uses BTC.

You are a supreme and fanatical homofagual and your fifteen minutes have elapsed, sadly.

I am Chumbawamba.

Mon, 01/20/2014 - 19:52 | Link to Comment fonestar
fonestar's picture

That's just one of my wallets that I have open right now.  I'm a Bitcoin 1%'er and all of you should buy Bitcoin to help pump me up.  

Mon, 01/20/2014 - 20:06 | Link to Comment chumbawamba
chumbawamba's picture

Here are some devices that you might want to try to help pump you up:

http://www.walgreens.com/q/penis-pump

I am Chumbawamba.

Mon, 01/20/2014 - 20:06 | Link to Comment chumbawamba
chumbawamba's picture

Yeah, no shit!  Walgreens sells penis pumps.  So now you have no excuse, foneystar.  Go to town with your Bitcoins on some penis enlargement!

-Chumblez.

Mon, 01/20/2014 - 21:11 | Link to Comment jimmytorpedo
jimmytorpedo's picture

I would rather give fonestar an EMP than a penis pump.

We don't need anything else going to his head.

Tue, 01/21/2014 - 06:37 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

pretty sure for his stature it only grow by millisatoshis.

Mon, 01/20/2014 - 20:24 | Link to Comment Mercuryquicksilver
Mercuryquicksilver's picture

You own 2 bitcoins. The supreme and fanatical devotee of some anonymous coders owns all of TWO bitcoins. SHeesh. Done with you.

Mon, 01/20/2014 - 20:31 | Link to Comment fonestar
fonestar's picture

That's just one of my wallets like I said if you bothered reading the post.  I'm not dragging out my cold-storage for you guys.

Mon, 01/20/2014 - 20:37 | Link to Comment chumbawamba
chumbawamba's picture

You haven't thrown down at all.

THROW DOWN, BITCH.

Mon, 01/20/2014 - 20:36 | Link to Comment chumbawamba
chumbawamba's picture

lol

Mon, 01/20/2014 - 20:37 | Link to Comment BandGap
BandGap's picture

I said this a very long time ago. Bitcoin is an ideal one world currency. It homogenizes all forms of currency (and Gold & Silver) into one exchange point. It seemed a bit contrived that it was first OK, then not OK, and now seems to be OK again. And it is certainly moving to being openly available very quickly.

Our government never does that UNLESS there is an angle.

Tue, 01/21/2014 - 03:51 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

What isolation? People will do a lot more traveling.
It won't be as quick as it has been once the oil runs out but they'll travel.
Or starve.

There won't be many delivery trucks & there certainly won't be a grid for power nor for cell phones & internet.

Mon, 01/20/2014 - 18:46 | Link to Comment Mine Is Bigger
Mine Is Bigger's picture

That's exactly what I thought.  Besides, this thing would have a major problem with counterfeit if it does become popular,  I don't think assaying 1/10 gram gold would be economically viable.

Mon, 01/20/2014 - 19:13 | Link to Comment fonestar
fonestar's picture

Good point.  And Bitcoin is impossible to counterfeit.

Mon, 01/20/2014 - 19:20 | Link to Comment MsCreant
MsCreant's picture

Do you know that you are being such a fucktard that you actually unsell your product? I want to keep an open mind, but if you are the model of a bitcoin advocate/user, I want no part of it.

Mon, 01/20/2014 - 19:24 | Link to Comment fonestar
fonestar's picture

I don't care if you or anyone else here joins up or not.  I'm just here proclaiming Satoshi's brilliance and victory.

Mon, 01/20/2014 - 19:41 | Link to Comment Mercuryquicksilver
Mercuryquicksilver's picture

But yet this is the first time you've ever said that. Really, you are doing more harm than service for your cause. I like the idea of BTC and would be very interested in large scale model of nofiatcoin. But you're trolling is for no purpose but to make people hate BTC.

Mon, 01/20/2014 - 19:42 | Link to Comment fonestar
fonestar's picture

I've already got my Bitcoin.  I don't care what you do.

Mon, 01/20/2014 - 19:53 | Link to Comment chumbawamba
chumbawamba's picture

Who paid you?  NSA?  Goldman-Sachs?  Nick Rockefeller?  Evelyn de Rothschild?

I am Chumbawamba.

Mon, 01/20/2014 - 19:26 | Link to Comment chumbawamba
chumbawamba's picture

Do not fret, my dear MsCreant.  It's all about ad impressions.  Fonestar's job is to simply mention Bitcoin enough times in areas of high "foot traffic" to etch indelibly on the mass mind of global consumers the NSA brandname Bitcoin™, so that when the banksters start coyly pushing for adoption of cryptocurrency and legislation to promote it, you will automatically think, "Bitcoin™".

An informed public is a smart public.

I am Chumbawamba.

Mon, 01/20/2014 - 19:30 | Link to Comment fonestar
fonestar's picture

Yes, the legacy banks are all the sudden going to comandeer all Bitcoin on Earth using a secret computer that is presently only known to select Atlantas residents under the sea.  It all makes perfect sense to the conspiracy-addled mind.

Mon, 01/20/2014 - 19:39 | Link to Comment chumbawamba
chumbawamba's picture

No, that kind of crazy conspiracy theory doesn't make any sense.  Rather, the banksters, who are actually responsible for the development of Bitcoin, are merely pushing cryptocurrencies as a way to make it easier for them to:

  1. Track everything you do and buy and consume;
  2. Know for certain if you've been paying your "fair share" of taxes;
  3. Rape you of your wealth and savings.

The banksters are, of course, controlled by the ruling bloodline families.  It's just better herd management of Plantation Earth.

Stop playing around, you're so silly.  Do most people still even fall for the kind of lame misdirection you employ?

I am Chumbawamba.

Mon, 01/20/2014 - 20:53 | Link to Comment BlackChicken
BlackChicken's picture

Gosh I miss you Chumbawamba.

I have brought up similar points only to hear the sound of crickets, or complete evasion of the points in general. I was actually hoping the other bright ones would have chimed in to show me where my thinking might be really off. The opposite occurred.

Tue, 01/21/2014 - 06:26 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Clearly we need to improve upon it.
Make it DNACoin, handled directly by DNA-computing within the body, and to spice it up, if your DNACoin count goes to zero, you die.
What could go wrong. Population control & currency stability rolled all into one!
http://www.youtube.com/watch?v=LDau-Krl1Uo

Mon, 01/20/2014 - 19:47 | Link to Comment MsCreant
MsCreant's picture

Actually, I don't think he is that far off the mark. 

SDRs are very obviously a $ redo. I don't see people calmly turning in their $ for SDRs to get fucked hard in the ass with a depleted value exchange rate. 

China is a contender, I suppose, to have the new reserve currency, but really? Probably not. Once the USA has screwed you over, why trust any one country with it, even if they do have a lot of gold to back it with.

It is not insane to come up with this cryptocurrency idea and make it seem like it is a grassroots thing, people think they are rebelling taking it up when in fact they are doing what the central bankers want. Central bankers go "oh drat that bitcoin" and we move deeper into it, thinking it can't be traced, inflated, forged, blah, blah, blah.

I am with many here, it depends on the power grid and computers working. That is a pretty big flaw.

Mon, 01/20/2014 - 19:58 | Link to Comment chumbawamba
chumbawamba's picture

It is not insane to come up with this cryptocurrency idea and make it seem like it is a grassroots thing...

Not only is it not insane its the primary play on page one of the Bankster Playbook.  It's how they promote every paradigm shift they want to establish as the status quo.

I am Chumabwamba.

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