Is $10,000 gold on the horizon?

[EE_]

http://www.cnbc.com/2016/06/10/is-10000-gold-on-the-horizon-one-commodities-expert-says-yes.html

[madfranks]

No.

[Ares]

$10,000 BTC might be.

It's at $689.19 at the moment.

[madfranks]

$10,000 BTC might be.

It's at $689.19 at the moment.

At this point in time $10,000 bitcoin is a much better possibility than $10,000 gold.

[Joshua01]

The thing that bothers me is BTC is as much vapor as digital FRN's. I don't trust anyone as much as I trust myself. If I don't hold it, I don't own it.

[Ares]

The thing that bothers me is BTC is as much vapor as digital FRN's. I don't trust anyone as much as I trust myself. If I don't hold it, I don't own it.

You kind of hold it. Due to the way the blockchain works once you register a Bitcoin address you and everything contained within that address is technically yours. You have millions of computers updating the blockchain in agreement that it is yours. So while you do not have physical possession of it's contents, no one else including the government can levy or claim that address or its content as theirs. The protocol simply doesn't allow for it, and couldn't ever be changed without millions of computers agreeing with that change.

[Joshua01]

You kind of hold it. Due to the way the blockchain works once you register a Bitcoin address you and everything contained within that address is technically yours. You have millions of computers updating the blockchain in agreement that it is yours. So while you do not have physical possession of it's contents, no one else including the government can levy or claim that address or its content as theirs. The protocol simply doesn't allow for it, and couldn't ever be changed without millions of computers agreeing with that change.

Sounds like you're describing my checkbook. The government doesn't have to claim it, all they need to do is defeat the protocol....and believe me, any code can be defeated.

[Ares]

Sounds like you're describing my checkbook. The government doesn't have to claim it, all they need to do is defeat the protocol....and believe me, any code can be defeated.

A code can, a Protocol cannot. Especially when you have millions of computers that need to agree on the protocol in order for it to function.

[Joshua01]

A code can, a Protocol cannot. Especially when you have millions of computers that need to agree on the protocol in order for it to function.

All they need to do is compromise the system, make it unusable. I don't believe that's beyond the rhelm of possibility

[Ares]

All they need to do is compromise the system, make it unusable. I don't believe that's beyond the rhelm of possibility

It is if you look at the way the blockchain is designed. There really isn't a way to compromise the block chain without getting millions of individual PCs to agree with it. There has been thousands of hackers that have tried to compromise the block chain and have failed miserably. The reason being is that a protocol cannot be easily compromised. Just like TCP/IP is a protocol and is not easily compromised. It's a specific set of standards and operations the computer or network in this case has to adhere too in order for it to function.

You can't write something that is outside of the scope of the protocol as it will just be ignored as it has no way to execute it. Protocols are a LOT different than normal software. Protocols have limited functions and strict adherence to standards. Any breach of that adherence will not be followed or executed.

[Joshua01]

It is if you look at the way the blockchain is designed. There really isn't a way to compromise the block chain without getting millions of individual PCs to agree with it. There has been thousands of hackers that have tried to compromise the block chain and have failed miserably. The reason being is that a protocol cannot be easily compromised. Just like TCP/IP is a protocol and is not easily compromised. It's a specific set of standards and operations the computer or network in this case has to adhere too in order for it to function.

You can't write something that is outside of the scope of the protocol as it will just be ignored as it has no way to execute it. Protocols are a LOT different than normal software. Protocols have limited functions and strict adherence to standards. Any breach of that adherence will not be followed or executed.

I hear ya and don't disagree. There's just something about holding digital wealth of any kind that has me a bit apprehensive I guess.

[Ares]

I hear ya and don't disagree. There's just something about holding digital wealth of any kind that has me a bit apprehensive I guess.

Agreed, but in the same token 97% of the US dollar is digital.... Something to think about. :)

[Jewboo]

Skylake's development, as with processors such as Banias (https://en.wikipedia.org/wiki/Pentium_M), Dothan (https://en.wikipedia.org/wiki/Pentium_M#Dothan), Conroe (http://javascript<strong></strong>:void(0)), Sandy Bridge (https://en.wikipedia.org/wiki/Sandy_Bridge) and Ivy Bridge (http://javascript<strong></strong>:void(0)), was primarily undertaken by Intel Israel [12] (http://javascript<strong></strong>:void(0)) at its engineering research center in Haifa, Israel (https://en.wikipedia.org/wiki/Haifa).

What about all that hidden yiddish microcode in every Intel processor?

:)

[Joshua01]

Agreed, but in the same token 97% of the US dollar is digital.... Something to think about. :)

Yeah, which is why I don't keep most of my wealth in the bank. I keep enough in there for comfortable liquidity and portability but most of my wealth (such as it is) is in other areas

[Ares]

What about all that hidden yiddish microcode in every Intel processor?

:)



Most of it is control sets in how to decode / encode encryption using public / private keys. Without those control sets Encryption would be a lot more cumbersome and slow. So the chip makers (Intel included) put those control sets on the chips themselves to speed up the process. Without the Public / Private keys they cannot decrypt a bitcoin wallet. The good thing with block chain tech is that a new public private key is generated with each new address(wallet). So even if you crack one, there is no way you're going to get the rest because the public / private key is different.

Bitcoin uses SHA-256 hashing algorithm.

I have some coin, but most of my holdings is in physical gold and silver.

[madfranks]

EE probably loves us for this epic thread derailment.

[osoab]

10,000 gold = 50 silver?