DISCLAIMER..I know SFA about bit coins. Just viewed on RT news the following. As so many SS members are interested in BTC. I have decided to post. Google RT and see for yourself. This is what the item said. Sheep marketplace, one of the leading anonymous websites, after silk road's closure, allegedly selling drugs, has gone offline claiming it was robbed of $6 million worth of bit coins. Another darkline , black market reloaded announced it may also quit. The websites administration left a short note " We are sorry today, but we were robbed on at 11/21/2013 by vendor Ebook101. This vendor found a bug in the system and stole 5400btc, your money, our provision, all was stolen. PLEASE NOTE..As I said above I know nothing about bitcoins.. What I do know that a lot of members here have a keen interest in btc. Check it out fellows. RT NEWS Regards Errol 43
Think Maloney might have gotten the "biggest wealth transfer in history" right about the timing, but wrong about the vehicle :/
I think bitcoins will be the pre bubble bust before gold. Once bitcoin implodes, tangibility will be taken seriously. Fortunes will still be made and already have been in bitcoin but I feel those jumping in now are feeding the ultimate cash out for the early adopters. Good on you guys that got in years ago. I still think the gains are deserved for people who believe in the values of bitcoin. I'm still damaged from $40 silver to have a taste of some Bitcoin. Ill wait with my shineys, the time will come for them
Only a very small percentage of people on the planet have gold and silver bullion worthy of note, whilst banks and Govts have a massive proportion. How do you feel about the "early adopters" in regards to gold and silver. Is it really any different to Bitcoin in regards to early adopters?. Do we just waggle the finger at Bitcoin, whilst neglecting to reflex on the same or similar fundamentals of gold and silver!.
Not sure of your point. I can put my gold in a vault for 100 years and have value when I pull it out. You can put your USB stick of Bitcoins away for a while and you would be lying if you said it will definitely have value after the same time period. I like the idea of bitcoin but I don't think it's the solution as there is way too much speculation for it to be stable. That might change but until then ill take the gold
So can you explain how bitcoins are distributed evenly? Or any asset? Bitcoin is holds imaginary value. If the same framework was used with something that has intrisic value I'd be in on it.
Bitcoins have NOT been distributed evenly. I regard that Bitcoins are akin to gold and silver in this respect. Bitcoins can do things physical gold can't. Gold can be used for things Bitcoin can't. Bitcoins and gold have different aspects various people may find value in. Markets decide, as they say. How do you feel about the "early adopters" in regards to gold and silver. Is it really any different to Bitcoin in regards to early adopters?. ******I think you lack of an answer, was an answer.*******What would Peter Schiff's answer be? *******
WTF who are you talking about the fucking cave men? You mean those that bought at cheaper prices? Good on them. But from your goals i can see you are here for selling to a greater fool both bitcoin and metals. I hold for insurance but if it gets ahead of itself ill off load some. Bitcoin is multiples further ahead of itself than gold has been, an those buying into it are blinded with greed.
I'm not that sure that fakeing Bitcoins is not possible... Not much info out there about this, but I don't see why some hacker couldn't find a way to make fake Bitcoins.
Are you familiar with the price history of Aluminium? It used to be a precious metal. Are you aware we are a planet floating in a sea of precious metals and every other substance, and that space exploration is at an all time high? Personally I wouldn't want to be holding gold in 50 years, let alone 100.
I've been interested in Bitcoin for years. This was when early gamers & others were mining it and the speculative aspect was not a major topic. I was interested because it represents an alternative to what the banking system provides. At the moment, people like Peter Schiff put a lot of focus on the speculative aspect. But if and when Bitcoin stabilises (I hope so), it remains of interest to me. I have put my AUD currency into both silver and gold for multiple reasons including the speculative aspect. Peter Schiff criticises Bitcoin yet seemingly does not consider that the same applies to gold and silver when it comes to the "greater fool" coming into the market. What do you suppose Peter Schiff's goal is regarding metals?. Is he selling to the greater fool? ..or is it just me.
Come one, they can make fake gold, fake silver, fake banknotes, some can generate fake passwords, why wouldn't they be able to make fake Bitcoins, even fake wallets, fake this, fake that?
Now that you've asked for it There will be a 45 ft container on your doorstep first thing in the morning
Just to make a very important point. There is no such thing as "intrinsic value". Everything only has subjective value. Precious metals have value as a commodity AND value as an investment too/money/currency/inflation hedge or whatever you want to call it. If gold lost its money value it would be worth FAR FAR less than what it is worth today. To say it is better than anything else because it has "intrinsic value" is simply false. In some cultures gold is worthless (well it was before widespread influence of modern society) To repeat, everything only has value because others think it does. The subjective opinion of some people. If a lot of gold was found and was easily obtainable, the value of it would plummet, regardless of what you believe the intrinsic value of something actually is. Any other Austrian's here wanna add(or subtract) to this ?
