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Asians think long term. They also love gambling. Doesn't it feel like gambling when buying BTC? I think they'll get addicted to it. Also, bitcoin is extremely effective for actual gambling. Think statoshi dice, or the many sites where you can gamble on real-world things. Then there's the whole "cold hard cash" aspect of it which I think they also like.Quote:
Originally Posted by madfranks
This guy on Zerohedge has an interested perspective regarding Bitcoin price increase.
Quote:
But it's the third blow off top for bitcoin in 3 years.
And each time, bitcoin has had its normal price exceed the high of the top in 9 months to a year. And then go on to 5-10X higher. If this top follows that pattern, we could get over $1K USD/XBT before the pop.
It's because there is a FIXED amount of 21 million, there will never be more than this. It only takes a fraction of the world population interested enough to own only 1 BTC to propel this thing to the stratosphere.Quote:
And each time, bitcoin has had its normal price exceed the high of the top in 9 months to a year. And then go on to 5-10X higher. If this top follows that pattern, we could get over $1K USD/XBT before the pop.
And we have our correction... Not sure how major or minor it will be. But I sold just in time. :)
Sold at Mtgox for 373
Sold at BTC-e for 360
current prices:
MtGox: 353.00
BTC-e: 321.09
Nice going!Quote:
Originally Posted by Ares
You keep this up and you'll be looking for your dream bugout property (thanks to bitcoin), 20 acres with a pond in the hills?
I'm not convinced at all that this is the correction... we were at $200 a week and a half ago, currently at between $320-350 isn't a correction to me.
Still trending downQuote:
Originally Posted by madfranks
MtGox: 333.05
BTC-e: 304.59
I'm working for it.. lol Whether it's dollars, silver, gold, or bitcoin, or litecoins. I'm working for it.Quote:
Originally Posted by EE_
Gee, and I thought finding a quotation price for construction materials in dollars was hard enough.Quote:
Originally Posted by madfranks
I would need another terabyte program to track, and the quotes valid for only 24 hours.
Ha ha, at this point, I'd never contract for anything denominated in BTC. It's still so young it's trying to find it's closest market value. That might take a few years, but when it stabilizes, it'll be as useful, if not more so, than dollars for pricing goods and services.Quote:
Originally Posted by Horn
I'm really hoping it will reach its intrinsic value of nothing far sooner, that way I don't even have to deal with it.Quote:
Originally Posted by madfranks
Franks you better learn from Ares, pump when he pumps and dump when he dumps, the kind of faith you have in it is completely blind.
XOXO
To be clear though, I'm trading to obtain more Bitcoins. :)Quote:
Originally Posted by Horn
Everyone knows the dollars days are numbered. It doesn't take a genius to see that the cracks are opening wider by the day. The more the FED tries to paper over it's abject failures the more people are going to look for an alternative. I really wish it was Gold or Silver. I truly do, but you and I both know that it's a controlled market. They dump it literally minutes before BLS stats are released, they've done it twice in a row these past two releases. You can't profit or trade in a manipulated market. You're not privy to the intel before it gets disseminated to the rest of the trading / speculating public. They take full advantage of it, whether there is a law there or not. And you know what? There isn't shit you or I can do about it.
They can pump or dump the precious metals market at anytime using naked shorts, even getting the comex in on the scam. If they can't deliver they'll settle in cash. What good is that? You have nations literally stealing peoples life savings (Poland, Argentina, Russia), or taking a 50 percent hair cut on current money in the bank (cyprus), what would you have them do? Go to their nearest precious metals dealer and buy up all that they have? What benefit is that to you or humanity as a whole? Even IF they institute a new gold backed system, its still one that leaves them in control of it. Rinse, recycle, repeat, it's a practice they've perfected for 500+ years. Gold and Silver are nice to have, but isn't going to do a god damn bit of good in the long run. It isn't going to remake this world, they control all the physical. If you don't believe that you're deluding yourself. India's populace has took to buying gold, what did the Indian government do? Shut down gold importation or tax it so heavily to make it mostly unobtainable.
That's where crypto currencies come in whether you like it or not. It's just the nature of the world we live in and where the people have been pushed too. The free market will always find a way. It doesn't always mean we have to agree with it.
MtGox: 298.16
Btc-e: 269.00
Madfranks, looks like I was right this time. (it's rare lol) This is a decent correction.
Quote:
Originally Posted by Ares
I hope it goes lower personally. I feel like there is strong resistance at the $200 mark for Bitcoin. I have nothing to prove it, but it's a gut feeling.
Same here, my gut tells me there is a strong floor at 200-250. So I'm just sitting and waiting to see some EMA cross over before I buy back in.Quote:
Originally Posted by Shami-Amourae
That post pretty much reflects my thoughts on crypto currency in a concise and coherent manner.Quote:
Originally Posted by Ares
It's not like I am overly thrilled with it, and probably why I was resistant at first but....
If I want to live my life somewhat financially free what other options do I have? Gold and silver just aren't cutting it anymore.
Maybe not now, but gold and silver's day will come, of that I'm sure. But in the meantime, it's great to have another option that is potentially quite profitable.Quote:
Originally Posted by Son-of-Liberty
Not like I am swearing off PM's, they are important to have to but they really have not been performing considering what is actually going on in the world.Quote:
Originally Posted by madfranks
I'm really more of a "buy and hold" person. When I try to sell on the highs and buy the dips, my timing is always really bad.Quote:
Originally Posted by Horn
Indeed but it is all being observed and judgement will eventually be met.Quote:
Originally Posted by Ares
James 5:4 Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.
This is from a different thread, but it seems more appropriate to this discussion. Regarding what bitcoins are used for:
If that's the case, then why did Ares unload his at what he perceived to be a spike high? Is this what one does with their stored wealth?Quote:
Originally Posted by Son-of-Liberty
I dumped at the high, and bought back in at 280 to give myself .5 more Bitcoins. Trading is a way to accumulate wealth.Quote:
Originally Posted by Sparky
Here's the other philosophy....lol
http://www.youtube.com/watch?v=NG1qooBzE2w
Here's their use to me: they represent the plan within a plan. In that respect, they're actually worth more to me than their monetary value at any given point. If I'm in a jam, if there's an emergency, if I'm separated from my resources, if I need to flee.......it's the ace in my back pocket. I don't consider the money I've put into it to be added in with my "assets", rather, it is a "prep". So if the price goes to zero in 5 years, it will still have served it's purpose. Like any prep, the value is more in what it protects than the item itself. It's the same philosophy as someone who always carries $1000 cash in their wallet wherever they go. You never know when there will be an emergency, where having the right cash at the right time will let you buy something for pennies on the dollar, etc. You don't count that cash in your pocket as necessarily an "investment".Quote:
Originally Posted by Sparky
'Selfish miner' attack could devastate Bitcoin
Nov 5, 2013 6:14 AM
Bitcoin is vulnerable to an attack that could have devastating effects on the virtual currency, but it can be fixed with a software update, according to researchers from Cornell University.
The attack involves "miners," or people running computers that verify Bitcoin transactions, said Ittay Eyal, a post doctoral fellow at Cornell University's Department of Computer Science, who co-authored the study with Emin Gun Sire, a Cornell professor.
Every 10 minutes, miners -- who usually collaborate in mining pools -- are rewarded with 25 bitcoins for lending their computing power to Bitcoin if they solve a cryptographic puzzle first. Miners process Bitcoin's transactions, which are recorded in its "blockchain," or public ledger.
It has long been known that if a mining group controlled more than 50 percent of Bitcoin's processing power, the network could be subject to a variety of attacks if the group wanted to act maliciously. But the researchers show that small miners may unwittingly join a malicious group.
Miners are supposed to follow Bitcoin's software protocol. But Eyal and Sire found that Bitcoin could be significantly disrupted if a small group comprising less than 10 percent of Bitcoin's mining power decided to not follow it.
A malicious mining group, or "selfish miners" as termed in the research paper, could "fork" the blockchain, or split it into a competing chain by only selectively revealing some of the transactions they've processed. If the malicious group's blockchain fork grows larger than the legitimate one, it would begin to collect a greater share of the 25-bitcoin rewards.
Miners, seeing the malicious group gain higher revenue, would join the successful pool, even if it was unaware of its intentions. Eventually, the malicious group could control the transaction chain, Eyal said.
"The discovery here is a mining pool of any size can initiate this attack and are better off doing selfish mining," Eyal said in a phone interview.
A variety of attacks are then possible, including spending the same bitcoin twice, which the network is currently designed to prevent. If a merchant received a payment in bitcoins, the miners could "roll back" the transaction to allow the bitcoins to be spent again, Eyal said.
"They could also prevent you from ever using your bitcoins" by not allowing certain transactions into the blockchain, Eyal said.
Fortunately, Bitcoin's protocol can be updated. Eyal said he and Sire have suggested a fix for Bitcoin's algorithm that would limit mining pools to no more than 25 percent of the total number of nodes on the network.
Some mining pools today already exceed 25 percent, Eyal said. "Obviously, we believe that these pools are honest and they don't have any incentive to break the protocol, but like I said before, technically they can and we believe this is not a healthy situation for bitcoin, which we believe is destined for great things," he said.
Gavin Andresen, chief scientist for The Bitcoin Foundation and lead developer for the Bitcoin-QT client, said developers are still digesting the research paper. But he said the consensus in the end will likely be that the attack is not practical.
Although Bitcoin is not controlled by an entity, a team of developers work on its core protocol. Updates to the protocol are periodically released and adopted by the community, although there is no way to force people to upgrade their software.
The update would give people greater confidence in the Bitcoin economy and ensure that people don't have to count on miners' "good intentions," Eyal said.
http://www.pcworld.com/article/20608...chers-say.html
I can accept it as one more prep alternative, as in your example.Quote:
Originally Posted by vacuum
Sparky also wanted to keep his old insurance plan after the affordable care act was implemented.Quote:
Originally Posted by Sparky
After which it consumed everything in its path, and the entire world was thrown into the trash can as it had 0 intrinsic value.
Horn,
I read that article about the selfish miner attack. The Bitcoin Developer came out and said yeah it's feasible, but that's only a short term goal. You'd end up destroying the system you're trying to profit from. We're not bankers. :)
To give you an example of the people who mine, earlier this year there was a fork in the block chain because of a glitch on how the network handled the new client update. The pools shut down and stopped mining until everyone was up to date. All pools that I know of are extremely transparent. Mostly because they want to prove to the miners who join their pool that their shares and work aren't being stolen by the pool operator. You have each block posted and who received what from the shares.
So yes while it is feasible, especially with the pool I belong too as they have 25% of network hash rate. I just don't think it would happen. Hell the pool I belonged too took the time to return someone's mistyped payment back to that person. Instead of sending 1BTC the person mistakenly typed 10 BTC and hit send. Opps. The pool was able to recover some of the BTC's just not all of them. But even still the pool could of kept it for themselves, but didn't.
Do the other E-coins have this massive liability flaw, or is it just the mother of and flagship to all E-coins.Quote:
Originally Posted by Ares
Would it even matter if the mothership then became pirated?
Any crypto currency would be subject to this. You need miners to mine the currency to get it into circulation. But the same goes for the others, you would need a sizable pool to completely cut itself off from the rest of the network and not report it's found blocks until it had a lot of them. So the miners would be out of luck for getting paid, about a month or 2. Most miners can't go without a few days of getting paid, you can forget about a month. They've got electricity bills to pay for. :)Quote:
Originally Posted by Horn
As clear blue as azure summer sky.Quote:
Originally Posted by Ares
http://www.youtube.com/watch?v=UPHuE5pDlEs
9
Nov
2013
What’s Your View on Bitcoin? – Questions For Corbett #011
https://www.youtube.com/watch?featur...&v=5QMGs6nkNTg
https://www.youtube.com/watch?feature=player_embedded&v=5QMGs6nkNTg
Posted by Corbett
Podcast: Play in new window | Download
As James prepares to deliver a keynote address to an open source conference in France this month, he takes some time out of his schedule to answer some of the questions that have come in for #QFC. Topics include the depopulation agenda, localization, Japan’s “sexless” youth, Gladio B, anarchy and the environment, and the insurance on the Twin Towers.
For those with limited bandwidth, CLICK HERE to download a smaller, lower file size version of this episode.
For those interested in audio quality, CLICK HERE for the highest-quality version of this episode (WARNING: very large download).
SHOW NOTES
fOSSa 2013 conference
Radio Liberty
The Power Hour
DitchYourBox.com
@GJSalisbury buys Another Nineteen
Demographic Winter
The Disappearing Male
Episode 094 – You Are Being Sterilized
The Last Word on Overpopulation
Episode 142 – The Underpopulation Crisis
Green Co-op
Japan’s Sexless Youth
Media Watch: What Was the “Sexless Japan” Thing All About?
Top 5 Mistakes Journalists Make about Sexless Japan
Putin Proposes Using Smart Cameras to Identify Immigrants
Russia’s Putin says wants to build “Eurasian Union”
U.S. Vetoes of Resolutions Critical to Israel
Episode 243 – A Message to the Future
Disarming Realities: As Gun Sales Soar, Gun Crimes Plummet
Experian Sold Social Security Numbers To ID Theft Service
“Crying Indian” ad
Birth defects soar in Fallujah, key battleground in Iraq War
U.S. Army dumped nerve gas in Atlantic
World Trade Center owners’ bid to sue airlines for 9/11 attacks blocked
The Bonds of August: Refinancing the Twin Towers on the eve of destruction
Bitcoin: The Hope, the Hype and the Space in Between
Bitcoin ATM uses palm scan biometric identification technology
Too funny. We rail against da evil jews printing money "out of thin air" then brag about getting rich mining Bitcoins out of thin air.
:rolleyes: lol
Yeah but we don't make the money out of debt and then make the peons work their whole lives to pay it back. Big difference.Quote:
Originally Posted by Jewboo
Dont know how to make it bigger.
Attachment 5654
http://pontusvarldsmedborgare.files....jection-v6.png
If there was a correction, it wasn't a very big one. $384 at Mt Gox. I actually bought two more BTC at $200 each, thinking they were expensive, but now, two weeks later it's almost doubled.
I remember when $10 was expensive.Quote:
Originally Posted by madfranks
A
- Afghani - Afghanistan
- Akşa - Tuva
- Angolar - Angola
- Argentino - Argentina
- Ariary - Madagascar
- Austral - Argentina
- Auksinas - Lithuania
B
- Baht (บาท) - Thailand
- Balboa - Panama (U.S. dollar used for paper money)
- Birr - Ethiopia
- Bitcoin - Internet based.
- Bolívar - Venezuela
- Boliviano - Bolivia
- Budju - Algeria
- Indian Rupee - India
C
- Cedi - Ghana
- Chervonets - Russia
- Colón
- Continental currency - United States of America
- Conventionsthaler - Holy Roman Empire
- Córdoba - Nicaragua
- Portuguese Cruzado - Portugal
- Cruzado - Brazil
- Cupon - Moldova
- Customs gold unit - Republic of China (1912–1949)
D
- Dalasi - The Gambia
- Daler - Danish West Indies
- Denar - Macedonia
- Denier - France
- Dime
- Dinar (دينار)
- Algerian dinar - Algeria
- Bahraini dinar - Bahrain
- Bosnia and Herzegovina dinar - Bosnia and Herzegovina
- Croatian dinar - Croatia
- Iraqi dinar - Iraq
- Jordanian dinar - Jordan, Palestinian territories
- Kelantanese dinar - Kelantan
- Krajina dinar - Krajina
- Kuwaiti dinar - Kuwait
- Libyan dinar - Libya
- Republika Srpska dinar - Republika Srpska
- Serbian dinar - Serbia
- South Yemeni dinar - South Yemen
- Sudanese dinar - Sudan
- Swiss dinar - Iraq
- Tunisian dinar - Tunisia
- Yugoslav dinar - Yugoslavia
- Diner - Andorra (commemorative only)
- Dinero - Spain
- Dinheiro - Portugal
- Dirham (درهم)
- Dobra - São Tomé and Príncipe
- Dollar
- Antigua dollar - Antigua
- Australian dollar - Australia, Kiribati, Nauru and Tuvalu
- Bahamian dollar - Bahamas
- Barbadian dollar - Barbados
- Belize dollar - Belize
- Bermudian dollar - Bermuda
- British Columbia dollar - British Columbia
- British North Borneo dollar - British North Borneo
- British West Indies dollar - British West Indies
- Brunei dollar - Brunei
- Canadian dollar - Canada
- Cayman Islands dollar - Cayman Islands
- Continental dollar - Colonial America
- Cook Islands dollar - Cook Islands
- Dominican dollar - Dominica
- East Caribbean dollar - Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines
- Fijian dollar - Fiji
- Grenadan dollar - Grenada
- Guyanese dollar - Guyana
- Hawaiian dollar - Hawaii
- Hong Kong dollar - Hong Kong
- International dollar - hypothetical currency pegged 1:1 to the United States dollar
- Jamaican dollar - Jamaica
- Kiautschou dollar - Qingdao
- Kiribatian dollar - Kiribati
- Liberian dollar - Liberia
- Malaya and British Borneo dollar - Malaya, Singapore, Sarawak, British North Borneo and Brunei
- Malayan dollar - Brunei, Malaysia and Singapore
- Mauritian dollar - Mauritius
- Mongolian dollar - Mongolia
- Namibian dollar - Namibia
- Nevisian dollar - Nevis
- New Brunswick dollar - New Brunswick
- New Zealand dollar - New Zealand, Cook Islands, Niue, Tokelau, Pitcairn Islands.
- Newfoundland dollar - Newfoundland
- Nova Scotian dollar - Nova Scotia
- Prince Edward Island dollar - Prince Edward Island
- Penang dollar - Penang
- Puerto Rican dollar - Puerto Rico
- Rhodesian dollar - Rhodesia
- Saint Kitts dollar - Saint Kitts
- Saint Lucia dollar - Saint Lucia
- Saint Vincent dollar - Saint Vincent
- Sarawak dollar - Sarawak
- Sierra Leonean dollar - Sierra Leone
- Singapore dollar - Singapore
- Solomon Islands dollar - Solomon Islands
- Straits dollar - Brunei, Malaysia and Singapore
- Sumatran dollar - Sumatra
- Surinamese dollar - Suriname
- Old Taiwan dollar - Taiwan
- New Taiwan dollar - Taiwan
- Texan dollar - Republic of Texas
- Tobagan dollar - Tobago
- Trinidadian dollar - Trinidad
- Trinidad and Tobago dollar - Trinidad and Tobago
- Tuvaluan dollar - Tuvalu (not an independent currency, equivalent to Australian dollar)
- United States dollar - United States of America; also used officially in several other countries: British Indian Ocean Territory (accepted), East Timor (has own centavo coins), Ecuador (has own centavo coins), El Salvador, Marshall Islands, Federated States of Micronesia, Palau and Panama (has own balboa currency)
- Zimbabwean dollar - Zimbabwe
- Đồng
- Drachma (Δραχμή) - Greece
- Dram (Դրամ) - Armenia
E
- Ekwele (Ekuele) - Equatorial Guinea
See also: Scudo (below)
- Escudo
- Angolan escudo - Angola
- Cape Verdean escudo - Cape Verde
- Chilean escudo - Chile
- Mozambican escudo - Mozambique
- Portuguese escudo - Portugal
- Portuguese Guinean escudo - Guinea Bissau
- Portuguese Indian escudo - Portuguese India
- Portuguese Timorese escudo - East Timor
- São Tomé and Príncipe escudo - São Tomé and Príncipe
- Spanish escudo - Spain
- Euro (Eυρώ, Евро) - Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain
- Countries that have made legal agreements with the EU to use the euro: Andorra, Monaco, San Marino, Vatican City
- Countries that unilaterally use the euro: Montenegro, Kosovo
- Currencies pegged to the euro: Cape Verdean escudo, CFA franc, CFP franc, Comorian franc, Bulgarian lev, Lithuanian litas, Bosnia and Herzegovina convertible mark
F
- Fanam - Madras Presidency
- Fiorino - Tuscany
- Florin
- Aruban florin - Aruba
- Austrian florin - Austria
- East African florin - Kenya, Somalia, Tanzania and Uganda
- Lombardy-Venetia florin - Lombardy-Venetia
- Forint - Hungary
- Franc
- Algerian franc - Algeria
- Belgian franc - Belgium
- Burundian franc - Burundi
- Cambodian franc - Cambodia
- Central African CFA franc - Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, Gabon
- CFP franc - New Caledonia, French Polynesia, Wallis and Futuna
- Comorian franc - Comoros
- Congolese franc - Democratic Republic of Congo (replaced in 1967, re-established in 1998)
- Djiboutian franc - Djibouti
- French franc - France
- French Camerounian franc - French Cameroun
- French Equatorial African franc - French Equatorial Africa
- French Guianan franc - French Guiana
- French Polynesian franc - French Polynesia
- French West African franc - French West Africa
- Geneva franc - Geneva
- Guadeloupe franc - Guadeloupe
- Guinean franc - Guinea (replaced in 1971, re-established in 1985)
- Katangan franc - Katanga
- Luxembourgish franc - Luxembourg
- Malagasy franc - Madagascar
- Malian franc - Mali
- Martinique franc - Martinique
- Monegasque franc - Monaco
- Moroccan franc - Morocco
- New Caledonian franc - New Caledonia
- New Hebrides franc - New Hebrides
- Réunion franc - Réunion
- Rwanda and Burundi franc - Rwanda and Burundi
- Rwandan franc - Rwanda
- Saar franc - Saar
- Saint Pierre and Miquelon franc - Saint Pierre and Miquelon
- Swiss franc - Switzerland, Liechtenstein
- Togolese franc - Togo
- Tunisian franc - Tunisia
- US occupation franc - France (issued and used by Allied soldiers, never backed by any government)
- West African CFA franc - Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo
- Vaud franc - Vaud
- Franco
- Frange - Korçë
- Frank
- Aargau Frank - Aargau
- Appenzell Frank - Appenzell
- Basel Frank - Basel
- Berne Frank - Berne
- Fribourg Frank - Fribourg
- Glarus Frank - Glarus
- Graubünden Frank - Graubünden
- Liechtenstein frank - Liechtenstein
- Luzern Frank - Luzern
- Schaffhausen Frank - Schaffhausen
- Schwyz Frank - Schwyz
- Solothurn Frank - Solothurn
- St. Gallen Frank - St. Gallen
- Thurgau Frank - Thurgau
- Unterwalden Frank - Unterwalden
- Uri Frank - Uri
- Vlorë frank - Vlorë
- Westphalian frank - Westphalia
- Zürich Frank - Zürich
G
- Gazeta (Γαζετα) - Ionian Islands
- Genevoise - Geneva
- Gineih - Egypt
- Gourde - Haiti
- Grosz - Kraków
- Guaraní - Paraguay
- Guilder - British Guiana
- Gulden
- Austro-Hungarian gulden - Austria-Hungary
- Baden Gulden - Baden
- Bavarian Gulden - Bavaria
- Danzig Gulden - Danzig
- Dutch gulden - Netherlands
- Fribourg Gulden - Fribourg
- Luzern Gulden - Luzern
- Netherlands Antillean gulden - Netherlands Antilles
- Netherlands Indian gulden - Netherlands Indies
- Neuchâtel gulden - Neuchâtel
- Schwyz Gulden - Schwyz
- South German Gulden - Baden, Bavaria, Frankfurt, Hohenzollern, Württemberg and other states
- Surinamese gulden - Suriname
- West New Guinean gulden - West New Guinea
- Württemberg Gulden - Württemberg
H
- Hryvnia (Гривня) - Ukraine
- Hwan (圜 or 환) - South Korea
I