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BITCOINS : General Discussions (combined)

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Now this is strange.

Physical bitcoins, backed by gold?????

I think TPTB are shitting bricks over these crypto-currencies and this is their latest fight back.

If I wasn't such an old geezer, I'll get some Bitcoins too.

 

http://www.zerohedge.com/news/2013-12-01/uk-royal-mint-working-plans-issue-gold-backed-physical-bitcoins

UK Royal Mint Working On Plans To Issue Gold-Backed Physical Bitcoins

 

.... All we can do at this point is sit back in wonder and amusement as we hit the pinnacle of monetary confusion, whereby the UK Royal Mint, willing to take full advantage of retail confusion, will mix hard, soft and digital currency, and produce a product... that is locked away on an island that belongs to the UK.

 

And all we can say is "brilliant", because if there is a better plan to meld the sentiment of both hard and digital-currency (and hence, anti-fiat) advocates, and to redirect it in a "fiat" pathway, we have yet to hear it.

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Clif High is raving on about Bitcoins in his latest wujo

E67 - November 24, 2013 Bittards, artist fucking taxi driver

clifs wujo November 24, 2013

 

wujo 24 Nov 2013

 

He's been talking on and on and on about Bitcoins

Here's the transcript for the last part

 

31:20 mins

Maybe it will make your head hurt 'cos it's not an easy thing

But hey, nothing in life is easy

Everything is difficult in the beginning

So get over it.

Get beyond the learning curve.

Master this stuff.

Other humans have done it.

It's not that complex.

You don't have to be a miner.

You don't ..... have to understand the code

You just have to understand what Bitcoin is, what its potential is and how to use the bugger.

It's not that difficult.

And guess what? There's tons of people out on Youtube who have done videos to help you.

So you don't even have to read.

Just sit back, drink your coffeee and watch the Youtube videos and you'll grasp what's going on.

Get a general sense of the opposition and dive into the supporters and see what you've got.

You'll see the composition and their ideas and who's right and who's wrong.

Make up your own damn mind......

 

32:20 mins

When these banksters shift, they will be like the herd suddenly moved.

Spooked.

I think it will happen when Bitcoin crosses about (let's pick something that would freak and fuck with them) $911 dollars and it holds and goes over that amount.

That'll be the point at which the match is lit and the flame's heading for the rocket fuel for Bitcoin.

911

After it reaches 911, you'll see this occur.

Then everybody's going to be chasing Bitcoin with money.

Up until then, now, you're just chasing Bitcoin, trying to find one.

The limitation is Bitcoin, not the money.

So you'll see the shift and ... I'm telling you the way it's going to end up here

I've seen the future before with PCs.

I'm seeing it now with Bitcoin and crypto-currencies

Litecoin is good but it doesn't have the structure.

It's going to lag behind Bitcoin by decades as infrastructure builds under Bitcoin

I don't think it's going to degrade or take down anything from Bitcoin

It's just going to be an also ran, a wannabe, a sidekick kind of thing

In any event, Bitcoin is going to take off once it gets over 911.

I'm just picking that because of the symbolic nature.

Really it's in or around 900+ and that's when it really starts rocketing up.

 

34 mins

There's going to be a panic coming on Wall St that's going to further this

It's hard to peg the timing on that

But if your idea is to buy a Bitcoin and sell it for more dollars or yuan than when you paid for it, you should be able sell it to the bankers if you can get hold of a Satoshi now

You should be able to sell it to them for an appreciable profit any time in 2014

It's just the way things are going to work out

I'm not a financial adviser here but I'm right about Bitcoin since I first saw it.

I was right about PCs and the nature of the digital world.....

If I had the acquisitional ability, I would get more Bitcoins

They're the future and we're headed that way.

We can't be going back to the past.

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Simon Black reports that Bitcoin is so popular with the people in Argentina, that it trades at a 30% premium there.

 

http://www.sovereignman.com/trends/one-big-problem-with-bitcoin-13238/

 

The Argentine government has imposed a series of desperate capital controls and price controls, including severe restrictions on purchasing gold and foreign currencies.

 

Most Argentines have been left to suffer the terrible inflation and erosion of purchasing power that comes with holding a rapidly depreciating paper currency.

 

But for some Argentines, Bitcoin has been a salvation. And demand for the digital currency has soared in the country as people have realized that Bitcoin cannot be controlled or nationalized by the Argentine government.

 

As a result, Bitcoins in Argentina frequently trade for more than 30% higher than in neighboring countries… presenting a rather interesting arbitrage opportunity......

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Bill Still seems to like Quarkcoin.

 

 

From Clif High

http://halfpasthuman.com/

Now watch out....TPTB may be creating 'fake crypto' currencies to have something that they can still control. i personally find quarkcoin very suspicious in its growth patterns to its very large market cap with virtually NO linguistics behind it. Caveat emptor?

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Article from Clif High on Bitcoins

http://halfpasthuman.com/essays/digitalhumans.html

Right at this moment, the world you live in is changing.

 

Right at this moment, the early adopters are 'getting in', or transferring their wealth into something other than bankster-dollars, and Bitcoin is frequently the choice made.

 

Right at this moment, the power structure of the old planet earth is losing its balance and falling, just as the planet itself is expanding.

 

There is not going to be a 'new world order', there is simply going to be a new world.

 

Welcome to the 21st century.

 

Got Bitcoin?

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There's a certain irony in me posting conspiracy ideas, but hey, I'll do it anyway. For me, Bitcoin just looks too convenient. Created out of nowhere by an anonymous entity, part of me still thinks it's a gigantic honey trap, or at the very least part of a move to a wider end game. We know from the Snowden leaks the NSA and GCHQ actively worked to undermine encryption and piggy backed assorted bits of critical web infrastructure, so for all the appeal of a decentralised money system, I'd hold off the "revolution!" ideas for now. The whole thing could be an enormous double bluff. Creating what seems to be a revolution, then keeping a very close eye on who shouts about it the loudest would seem like a reasonable intelligence approach to me. Likewise monitoring purchases of ASICs and the related kit required to build a commercial scale mining rig. Far less anonymous that some would have it. Let's also not forget where Tor originated. There's also still major weak links that I seldom hear mentioned, and that's the reliance on power grids, ISPs and the hardware manufacturers. Bitcoins won't be much use when someone pulls the plug and things go dark. If Iranian nuclear scientists can get assassinated, Bitcoin developers and crypto-coders would seem to be fair game also. The ideas are fascinating, but I just have a gut feeling that those calling them the future of money are being spun a yarn.

 

Even if none of the above is true, if crypto-currencies are indeed the future (or part of it), you can bet the likes of Amazon, Apple, Facebook et al will want in on the action, not to mention the investment banks. We're constantly told JPM and Goldman are manipulating [insert market here], so why wouldn't they also seek to manipulate Bitcoin, especially when it's so loosely regulated and hugely volatile? Would seem like fertile ground for manipulation if you ask me. Set up an exchange or a new Silk Road, ramp up the hype through false "free thinking" podcasts and YouTube clips, let the coins roll in and then take everything down and trouser the Bitcoins. Exchange the stolen Bitcoins for the next big thing (Litecoin or whatever) whilst simultaneously repeating the process to ramp that up as the next big thing because it overcomes the shortcomings of the first one. Who are the wallet holders going to complain to, given there's no central authority?

 

ETA - could also just be a beautiful confidence trick. Nobody knows who or what Satoshi Nakamoto is, so it follows nobody knows how many Bitcoins he/they hold. Given it appeared in the middle of the financial crisis, it could be a beautiful way of riding the distrust created by said crisis. Introduce what appears to be an amazing new alternative money right in the midst of a global financial storm, having mined an unknown number for yourself first whilst the resource cost was low. Sit back and watch the distrust of governments and financial institutions build interest in your product, which in turn gets adopted by the alternative media. Wait until interest spikes and the perceived value rockets, then cash out and leave people to it. Couple that with the increasing difficulty (cost) of mining now as compared to the "then" of your first batch, and your initial Bitcoins have a locked in lower fixed cost, meaning nobody can exploit the value increase as much as you can.

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Ooops!

http://www.zerohedge.com/news/2013-12-05/bitcoin-tumbles-after-china-central-bank-bans-financial-companies-using-digital-curr

Bitcoin Tumbles After China Central Bank Bans Financial Companies From Using Digital Currency

 

.... However, the reason why Chinese Bitcoin didn't tumble all the way to zero is because the PBOC added a loophole that the public is free to participate in internet transactions provided they bear their own risks.

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: The interesting thing is, when the BTC price touched that of Gold, the price fell back - almost as if people were switching out of BTC into Gold:


20131201_BTC.jpg


The Last 10 days - Bitcoins


ouwx.png

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That's what I'd be doing at that price if I'd had any. Someone somewhere bought a load of BTC for a dollar a piece and has swapped them for Au. Now that's magic!

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From Clif High

http://halfpasthuman.com/

Now watch out....TPTB may be creating 'fake crypto' currencies to have something that they can still control. i personally find quarkcoin very suspicious in its growth patterns to its very large market cap with virtually NO linguistics behind it. Caveat emptor?

 

Yeah.

Bill Still is either knowingly, or unknowingly, assisting in a pump and dump.

Don't be fooled by the "low" price, and remember, nothing backs them.

 

I collected some research and links, here:

http://www.greenenergyinvestors.com/index.php?showtopic=18581

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Announcement from Clif High

http://halfpasthuman.com/

BTC price is down due to selling over the chinese central bankster announcement and Baidu rescinding their acceptance of BTC.

Also rumors that NSA/CIA BTC stash is being used to try to manipulate the price in $$$USA FRNS. If so, good news as it will be a one-time thing, and then those BTCs will be distributed.

Next large movement of BTC in $ price increase is forecast by our data for December 10 through 21.

This is a test of BTC. The protocol and the currency are anti-fragile and will be stronger as a result.

 

An earlier piece from Clif at:

http://halfpasthuman.com/essays/digitalhumans.html

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Bitcoin Is Still Doomed
By Timothy Lavin Nov 21, 2013 2:03 AM GMT+0800

 

Congress got to hear a lot of nice things about Bitcoin from regulators this week. The cryptocurrency's market price has also touched record highs. If you think either development is good news for Bitcoin, you're missing the point.

In Senate hearings Monday and Tuesday, an all-star roster of conscientious public servants -- from the Treasury Department, Justice Department, Secret Service, Federal Reserve, Department of Homeland Security, Securities and Exchange Commission and so on -- all offered very respectful remarks about virtual currencies and their innovative potential.

Yet a common theme they all expressed was that such currencies were something they'll be able to control -- something that can be monitored and policed -- and not an anarchic and impenetrable system that drug dealers and money launderers and tax evaders can hide behind. So: The feds are paying attention.

For future users of virtual currencies, that's a good thing. It'll offer consumer protections and predictability. For Bitcoin, it's a problem.

To the extent using Bitcoin has any benefits now -- convenience, cost-efficiency, putative anonymity -- it's because authorities haven't been taking it very seriously. As officialdom becomes more assertive, Bitcoin will become more difficult and expensive to use, and less anonymous.

===

>more: http://www.bloomberg.com/news/2013-11-20/bitcoin-is-still-doomed.html

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Clif High has posted this info on Bitcoins on his website

 

Bitcoin...

remember... real markets are volatile...especially when they are humanity wide and nearly instantly communicative

opps....sorry, it is $3405 US FRNs to the BTC at which time (expected by our data near end of second week in Jan '14, yes, i know... improbable, but data is data...wrong, or right, reported as it presents itself to us here at hph) we get a plateau for a while. (11/17/2013).

We're Jammin'....jammin' with Snoop

Held your bitcoins through two/2 crashes? Ok, now you're a 'coiner'. Welcome to the 21st century. Fun, eh?

Bitcoin astro forecast - January 2014

A PDF file released by Berenberg Bank of Germany (est: 1590) answering the question - Bitcoin: Tulip Mania, or Disruption? (hint provided below)....

"To us, one of the most obvious implications of bitcoin is that it illustrates how susceptible the entire payment industry is to disruptive risks. If a “currency” started by squatters, without any institutional backing and capital deployed can be an alternative to global sovereign - backed paper, then th is demonstrates that even the high barriers to entry derived from scale and size cannot prevent disruptive businesses from gaining tracti on. One of the most common push back s we receive on our thesis regarding disruptive risks to the payment services industry regards the scale, size and scope of the incumbents. On these terms,
bitcoin versus the fiat currencies is probably as lopsided as the competition can get
. " {hph ed note: no wonder we are winning....they (banksters) are too big to see their own ass, let alone catch sight of us small humans out building a new future for the planet.}

 

Fiat Leak! Watch the humans of the planet abandon the fiats of the elites/banksters.

Bitcoinwisdom - for the chartically minded

CoinDesk - News and Analysis

Oh the horror! Child labor in the bitcoin minds exposed! (spoof, of course.)

Q & A: send questions on bitcoin/cryptocurrencies and will answer in next wujo.

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Interesting recent price action and other things

 

http://www.reddit.com/r/Bitcoin/comments/1t5ofu/please_sticky_usa_suicide_hotline_1800273talk/

 

Top of the Reddit thread for BTC - always a good place to look to get a feel of that martet = a suicide hotline :(

 

 

On the other hand with recent talk of the investment banks wanting to get in on the BTC trend it seemed like the thing might have legs after all.

 

There was a suggestion that Cicada (see below) could have been an intricate Inv Bank ploy to seek BTC miners

 

http://metro.co.uk/2013/12/16/cicada-3301-the-most-elaborate-and-mysterious-puzzle-of-the-internet-age-4229892/

 

 

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