The Bitcoin Tracking Thread

[Ares]

Wish you success, Ares.

If I knew more about the ins & outs I might trust it enough one day to also. I think, I'm too earth an astrological sign, or something? All you friggin fire/air people will reap the benefits, and when I get in there it will be doused mud.

The codes themselves & mining in electrical fields, makes one get all philosophical about Gold and Silver, like was it the answer that they all reached when finished mining?

When I first started reading about Bitcoins / Litecoins the process of mining Gold and Silver is what came to mind. The reason gold / silver is used as a medium of exchange is there is a finite amount, which gives it intrinsic value. But what gives BTC / LTC value is not only can it not be inflated into infinity is that you have removed the human element from the money / currency equation(corruption, fraud, oppression, lying, cheating, counterfeiting etc). Basically your trusting a code that a machine processes to confirm that the transaction / coin is genuine. I've been around machines all my life, and machines will only do what you tell it them to do. If you set a protocol that you cannot change the machine will following that protocol until its conclusion. It will do nothing else, it does not think, act or even care about it's self existence. It just is.

The benefit in all of this is that it threatens the very institutions that hold a monopoly on power for the past 500 years. If this currency or type of currency can really bring them to their knees what's not to like? I got into gold and silver to "stick it to them" as well as preserve my wealth. But I also see that it is controlled. We all know that JPM games the silver markets. There's no way 20 something should justify the price for an ounce of silver when the supply is limited and is a dual purpose metal. Same goes for gold. So that really opened my eyes seeing as how they keep the price suppressed to the point that it does not threaten them. They can drop it whenever they want, and will continue to do so until they are damn good and ready to let it rise.

I still hold all of my metals, but I'm also venturing into LTC mining, while I wait for my BTC ASIC to show up at my door step to start mining them. It's an investment, and I don't invest more than what I am comfortable in losing.

[Horn]

In general people who are younger, and more tech/computer savvy are the ones adopting this stuff with open arms.

I know you meant young & dumb so I will forgive you. I'm only 44!

I've heard pier to pier being compromised before.

Shami, the transaction shouldn't go quick & painless. It should be like making love.

[Shami-Amourae]

I know you meant young & dumb so I will forgive you. I'm only 44!

I've heard pier to pier being compromised before.

Shami, the transaction shouldn't go quick & painless. It should be like making love.

I don't think either is dumber or smarter. There is wisdom in cautioning against it, but I feel we have no choice anymore, since we've tried the other route, and it hasn't gotten us any closer to freedom from the Money Changers. I want freedom for all humanity, and I'm willing to try something new and untested to do that.

Technology will either enslave you or free you. It only enslaves you if you don't let it free you first.

[Ares]

I don't think either is dumber or smarter. There is wisdom in cautioning against it, but I feel we have no choice anymore, since we've tried the other route, and it hasn't gotten us any closer to freedom from the Money Changers. I want freedom for all humanity, and I'm willing to try something new and untested to do that.

Technology will either enslave you or free you. It only enslaves you if you don't let it free you first.

Same here, it's something different and has a really powerful potential. Whether it lives up to that potential is yet to be seen. Strap in and enjoy the ride.

[Horn]

The reason gold / silver is used as a medium of exchange is there is a finite amount,

Was used as, and still not processed or yet undiscovered. You can guestimate but not be sure what lies untapped.

Now you're storing value that is easily convertible, yet no intrinsic (but for the notional unbreakable code). & has predetermined death phase.

Key is its all mostly still powered by fiat, and is already through half of its creation phase while still fledgling and powered by fiat.

The mining seems to be moving at break neck speeds for the overall creation phase till 2140 given, No?

[Horn]

I don't think either is dumber or smarter. There is wisdom in cautioning against it, but I feel we have no choice anymore, since we've tried the other route, and it hasn't gotten us any closer to freedom from the Money Changers. I want freedom for all humanity, and I'm willing to try something new and untested to do that.

Technology will either enslave you or free you. It only enslaves you if you don't let it free you first.

Silver kills all Masons. LOL!

Your computer would never live without it!



Ps. this song also doesn't rock like alot of silver songs I know of.

[ximmy]

When mine got stolen I called the interwebs police... They
should get back to me soon with some promising leads...

[Neuro]

Is this a bubble, or the implementation of new technologies? Will it return back to the long term mean?
http://gailtheactuary.files.wordpres...d-fuel-use.png

As the bacteria in the petridish finishes up its sugar supply they start cannibalizing each other, and the population explosion turned into a nightmare...

[Shami-Amourae]

Just giving an example. Just since something goes up parabolic doesn't mean it's crashing back to zero.

Here's maybe a better example, it's Microsoft stock (I'm borrowing BrotherJohnF's example from his video I just watched):
http://www.telco2research.com/custom...feb%202011.png

Parabolic rise from virtually nothing, and then a 50% correction. That's a healthy rally, NOT an overall bubble. The bubble is the top 50%, which gets corrected. This was a turning point in computer history since the vision Microsoft had was that the market would be driven by software, not by hardware. The people at Microsoft were correct about this and were greatly rewarded for their innovation.

If Bitcoin is successful it will possibly hit a peak (lets say $300) then crash down (lets say $150) and then stabilize, and then slowly go up over time...

That's a possible scenario.

Again, if it hits 0 I think it will because another cryptocurrency has taken its place, not because people have lost faith in it completely. In other words a smart trade in a collapsing cryptocurrency wouldn't be to cash out into dollars, but leap over into the next best cryptocurrency...

[Horn]

When mine got stolen I called the interwebs police... They
should get back to me soon with some promising leads...

That's the thing, ximmy

You're young enough that you should be able to get out in the webs and Be your own Aeon Flux.