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Bitcoin Surges After Initial Forecasts Show "No" Vote Ahead
If the early bitcoin markets are an indication of what will happen once New Zealand opens for illiquid FX trade, it will be a risk off kinda day.
And that doesn't even take into account the pandemonium that will be unleashed in China in a few hours after the PBOC just went all-in to halt the crashing stock market. What if it fails to get a green close before tomorrow's US open?
Source: Bitcoin Wisdom
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In the very early advent days of the 'recording', some musicians were skeptical and some were appalled. It was by the very fact that someone could 'steal' their technique by having a recording of their performance, and some musicians refused to have their performances ever recorded. So, what does this have to do with Bitcoin? This quote may help:
"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident."
Arthur Schopenhauer
Least we forget about all the 'NOISE'.
If you buy all or part of a Bitcoin, 'just-to-have', and the price is low for now, will your brain explode?
Now see "Life Is Like A Mop": https://www.youtube.com/watch?v=I9W-smdTVjAI see an opportunity right now. Bitcoin is a good move, now. In the future? Maybe not. Gold and silver should be responding the same way, but the markets and mechanisms in place prevent that via manipulation, which most of you understand, like buying naked shorts on Comex, and other devious things that shouldn't be happening via evil people. No such manipulation schemes exist for Bitcoin, YET. So right now, it seems like a pretty solid idea. And I hope that the Greeks that have decided to participate in Bitcoin come out well. Bless them all, they are in for a hard time. But double bless them for how they voted! Freedom! Scream it from your rooftops! Gold and silver, still the good long term bet!
Bitcoin is vulnerable to the NSA's backdoors into the OpenSSL code. Precious metal is not. Silver and platinum are the best bets. Silver is undervalued by a factor of 70 against gold. Platinum by a factor 30 against gold.
BS. Bitcoin is an open source system, it is not static and a lot of smarties scattered all over the globe eyeball the code for flaws and try to improve it.
https://github.com/bitcoin/bitcoin
Try to comprehend the incentives behind this system, its network effect and utility.
Yes, and OpenSSL, a major component of the bitcoun wallet software was compromised. All those old wallets running 24/7 were prime target for the NSA to hack into their host computers. Who knows how may vulnerabilities there are in OpenSSL.
You seem to have no idea of what you're talking about.
Did you forget to take your prescribed medication?
Bitcoin Core devs are working on phasing out OpenSSL code. They've already done this for some of the most important parts, see version 0.10.0 changelog.
For thosands of years - gold used to do the same thing in such turbulent times.... before the TBTFs....
For thousands of years people use to use wooden sailing ships , until the Jet Engine was invented that is. Technology and evolution , what a bitch. Just to think it was not that long ago that life existed as sludge.
Bitcoin isn't the best cryptocoin out there. Not by a long shot. Technology and evolution, what a bitch.
TCP/IP isn't the best protocol out there.
Network Effect , what a bitch.
BTW , after watching hundreds of 'superior' coins bite the dust , tell me which one(s) you think are better and I will destroy your theory in a heartbeat.
You truly are a believer. As Gordon Gecko once said "A fool and his money were lucky to get together in the first place."
Thank's for the compliment.
I've read some interesting points trolling through these comments. It appears as though people are divided on what is the 'best' form of money. I hadn't thought about whether or not BTC was better or worse than gold. I just thought that they both exist, and both are interesting in their own right. This is because it isn't an either or decision.
Scenario 1: You walk over to a hooker and ask the price of XYZ. She states a price, you say, sounds good, do you accept BTC honey, or, do you prefer silver coins? She looks at you like you're a retard and says she prefers fiat. Yeh, the good stuff. No intrinsic value. Can mail it overseas in paper form. Cops can steal it. Perishes in a fire. Easy to spend on stuff like hookers. Not on the blockchain. What happens in a cashless society. Well then, assuming both parties dont want traceability, but don't have physical, pull it out of your pocket and put it in their pocket kinda money, and assuming most probably the transaction will take place via cellphones, then some form of digtial currency will be needed. Alt coins wouldn't be so great. Has to be something easily converted into food, rent, makeup. So, looks like its gonna be whatever the government decides.
Scenario 2: You suddenly wish to move your digital fiat overseas to somewhere safe. Whammy. BTC to the rescue. How do I get my gold out of the country in the blink of an eye. You don't. You gotta store it somewhere. But where. Gold is best stored somewhere safe and away from the filthy hands of others. Put it back in the dirt. Well done. The cool thing about gold is that you dig a hole, come back in 1000 years, and dig it up again. It hasn't aged a day you swear.
Scenario 3: You are a slave. An outcast. The robots have taken over. The great cull has begun! BTC can go suck a fat dick. Gold can fuck off too. Fuck I'd die for a glass of whisky right now, as you huddle in your bullshit little dwelling, trying to last the night. All you really want is a good can of food, a ciggerette, some painkillers. You look across the cave, and see someone trying to eat a BTC. You laugh. You throw them a bar of gold and it hits them on the head. She then ask for some medicine. You say, ill trade you some bandages and painkillers for BJ. The deal is struck. Then someone with a gun enters the cave and takes your shit, your shoes, your whatever you have. You wish you weren't an asshole and had friends to depend on.
There is no point going all in on any particular thing. The beauty is having options. I'm all for more options.
U;m, Im really not into cashless society. I like things that cant be bailed in. Cant bail gold in if you cant find it. Im glad BTC and other alt coins exist. Still in infancy, so keep an eye out for these babies. Cash is cool, but not a store of value. Damn gov gonna give me digital fiat that I cant remove from their system. Can't withdraw digital. Can buy something and trade. Bartering will have its place thank god. I bashed out this nonsense fairly quickly, so hopefully a few laughs are had and your time not overly wasted.
Bitcoin is the test run for the new global digital currency... It's not going to be a good thing.
I believe you are correct. This is why the oligarchy is throwing some of their people into the mix (Blythe Masters, for instance). It's not going to be a good thing, and it certainly won't be Bitcoin that emerges as the government's e-currency of choice.
It really sucks that Bitcoin can be sent by anyone to anybody, in any amount, anytime, without asking anybody's permission. What a flaw in the prototype! The sheep will need something more like the current banking system, nicely controlled and permissioned.
I really doubt TPTB are going to let that model continue. I'm surprised it's gone on for as long as it has. People get busted minting their own coins frequently so I don't see why Bitcoin has escaped that. Unless it's to get ppl used to a digital currency that will then be reintroduced by central banks after bitcoin is dismantled or fundamentally changed somehow.
Thing is the TBTF will fail at some point , it's actually a mathematical certainty. All Ponzi schemes unwind. At that point all banking and government jawboners will have lost all credibility. There will be no space for them to introduce some shoe-horned digital currency with some manipulated value , at that point the free market will have to be unleashed. BTC will reign free.
No, they'll find some way to cripple it, ban it, or simply devise something they have full control over yet provides the same services that Bitcoin does. It wouldn't be hard. You're living in a fantasy world if you think world governments will embrace Bitcoin. To hell with the government you say? Good luck with that, macho man.
I never said to hell with government. Have you considered the possibilty that governments may have limited choice in the matter ?
Time will tell ........
"I really doubt TPTB are going to let that model continue."
2 things here: Unlike Liberty Reserve and Liberty Dollars, Bitcoin is decentralized and global: their are no convenient targets to go after. Secondly, Bitcoin never asked for permission in the first place. The Bitcoin protocol does not recognize any dated concept like nation-states or the cute borders they've drawn up on maps.
At it's core Bitcoin is just numbers and math. Some people, of their own free will, have decided these mathmatical gymnastics have value in exchange for goods and services. Unless the guys with guns outlaw math, they are going to have to dictate to us peons what it is we are allowed or disallowed to subjectivly value. In that case zei guberment risks shining the spotlight on Bitcoin and, further, risks having their dictates ignored and laughed at (around 100,000 bitcoin transactions take place each day, a portion of that for illegal online gambling and drug purchases anways...).