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Thread: One bitcoin is worth more than one ounce of gold

  1. #11
    Dangerous Donald Neuro's Avatar
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    Re: One bitcoin is worth more than one ounce of gold

    Quote Originally Posted by Hitch View Post
    If I had a 1000 bitcoin, I'll just skip the philosophy and be happy with the trade for a mansion and acreage. I'm a simple guy, I'd be content with that.
    But according to Palani the mansion is not real, unless you "buy" it with the $5 gold coin in his pocket, with which he does all his major "transactions" in life...

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    Iridium Joshua01's Avatar
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    Re: One bitcoin is worth more than one ounce of gold

    Seriously, BTC has the advantage now and certainly in the short term. I think the thing to remember that, as unlikely as it seems right now BTC can go south at any given moment. Gold is not that volatile. It's a comfort level for some people more than anything else.
    Quote Originally Posted by Neuro View Post
    But according to Palani the mansion is not real, unless you "buy" it with the $5 gold coin in his pocket, with which he does all his major "transactions" in life...
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    Dangerous Donald Neuro's Avatar
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    Re: One bitcoin is worth more than one ounce of gold

    Quote Originally Posted by Joshua01 View Post
    Seriously, BTC has the advantage now and certainly in the short term. I think the thing to remember that, as unlikely as it seems right now BTC can go south at any given moment. Gold is not that volatile. It's a comfort level for some people more than anything else.
    Litecoin is way more stable, despite Bitcoin reaching new heights, Litecoin has parked itself between $3.50-4.50.

    Mostly I think it reacts to differences in the valuation of the dollar, the litecoin itself is completely stable, like a rock. If you think you have too much excitement in life, buy litecoin, it is more boring than watching paint dry.

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  6. #14
    Unobtanium palani's Avatar
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    Re: One bitcoin is worth more than one ounce of gold

    Quote Originally Posted by Neuro View Post
    the mansion is not real, unless you "buy" it with the $5 gold coin in his pocket, with which he does all his major "transactions" in life...
    That $5 gold coin would be overkill. All it takes is one dollar in either gold or silver to engage in a contract. The remainder of the illusion may be entirely fiction. The one dollar is easiest provided in the form of a fox stamp which is uncancelled.

    Nothing ever changes hands with fiction alone.

    I suspect the 'manor' is never entirely real. True that a manor is the residence of a lord but the title of lord is an office and a manor is a trust. The terms township and manor are synonymous.

    mansion (n.)
    mid-14c., "chief residence of a lord," from Old French mansion "stay, permanent abode, house, habitation, home; mansion; state, situation" (13c.), from Latin mansionem (nominative mansio) "a staying, a remaining, night quarters, station," noun of action from past participle stem of manere "to stay, abide," from PIE *men- "to remain, wait for" (source also of Greek menein "to remain," Persian mandan "to remain"). Sense of "any large and stately house" is from 1510s. The word also was used in Middle English as "a stop or stage of a journey," hence probably astrological sense "temporary home" (late 14c.).
    manor (n.)
    late 13c., "mansion, habitation, country residence, principal house of an estate," from Anglo-French maner, Old French manoir "abode, home, dwelling place; manor" (12c.), noun use of maneir "to dwell," from Latin manere "to stay, abide," from PIE root *men- (3) "to remain" (see mansion). As a unit of territorial division in Britain and some American colonies (usually "land held in demesne by a lord, with tenants") it is attested from 1530s.
    I find it interesting that there are plantations as well as townships in Maine.

    Author Richard Walden Hale in The Story of Bar Harbor described the formation of a plantation as follows:

    First came the survey, without which no settlement was legal. Land so surveyed was divided into 'townships,' which in New England means areas planned for development into full-fledged towns. Then certain proprietors--who might be a religious congregation, a group of speculators, or a group of would-be settlers--bought the 'township,' 'planted it' with settlers, and saw to it that land was reserved for a church and school. When enough settlers had been planted, limited self government was granted, and the township was raised in status to a 'plantation.' When the population of the 'plantation' should have grown large enough, another step forward was taken, the area received full civil rights, the full town organization came into force, and in those days one representative in the legislature or 'General Court' was automatically allotted to the new town.... Such a system still holds good in Maine.... To this day one can go thirty miles northeast of Bar Harbor and find, still unsettled, Township Number Seven, just back of Gouldsboro and Sullivan, and then go twenty miles southeast--in each case as the crow flies--and find Swan's Island Plantation, where to this day there is not enough population for the full complement of town officials.[1]
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  7. #15
    Unobtanium
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    Re: One bitcoin is worth more than one ounce of gold

    Stick a fork in it. Is BitCoin done?
    (zerohedge)

    Should Bitcoin split?

    Should an unlimited version of BitCoin be unleashed? Bit Coin Unlimited

    BTC and BTU?

    Wouldn't that just be creating a new fiat?
    Could / Should BTU be backed by BTC?

    I'm not really seeing the need.... other than some people have a lot of BTC's and others want them and can't get them. Seems to me it's not possible to either create out of thin air or steal them. Which is exactly the point of the way they were structured IMO.

    And if they continue to appreciate, what is the problem with everyone else transacting with smaller and smaller fractions. Because they are not physical, their divide-ability should be "unlimited".

    Seems like there is some resentment of people who have persisted with their speculation of them and their reluctance to part with them.

    Is that a good thing or a bad thing? If the situation persists and BTU's are not realistic would BTC's loose favor with people causing them to move on or simply give up on this kind of digital currency. Ultimately causing current holders "some kind" of loss, real or imagined?
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