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Thread: Bitcoin versus other monies.

  1. #131
    tWebber
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    "That guy has too much time on his hands!"

    "Oh, yeah? THAT guy there has too much money in his hands!"
    The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

    [T]he truth Iím after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -ó Marcus Aurelius, Meditations

  2. #132
    tWebber
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    The Bitcoin Bowl was played yesternite A wild 4th quarter featured a 34-point outburst by one team. May my bitcoin account have a similar outburst someday, making me wealthier than Croesus.

    Woops, that was another bowl.
    Last edited by Truthseeker; 12-27-2014 at 12:02 PM.
    The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

    [T]he truth Iím after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -ó Marcus Aurelius, Meditations

  3. #133
    tWebber
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    I am interested in comments from those of you who have studied this webpage (touting what appears to be a hybrid combination of bitcoin and gold) http://www.vaultoro.com/
    You own a pile of gold in a certain location. You can inspect that holding any time as far as it's possible to do so online (not be there physically to verify the holding's existence). Making a purchase with bitcoins "redeemed" from your Vaultoro gold holdings could be as quick and as easy and as safely as it can be done online. Well, those are the ideas, anyway. The gold could be stored as safely as it can be, comparable to vaults worldwide or better than them. [Thanks Laissez Faire Today (email letter)]
    The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

    [T]he truth Iím after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -ó Marcus Aurelius, Meditations

  4. #134
    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by Truthseeker View Post
    I am interested in comments from those of you who have studied this webpage (touting what appears to be a hybrid combination of bitcoin and gold) http://www.vaultoro.com/
    You own a pile of gold in a certain location. You can inspect that holding any time as far as it's possible to do so online (not be there physically to verify the holding's existence). Making a purchase with bitcoins "redeemed" from your Vaultoro gold holdings could be as quick and as easy and as safely as it can be done online. Well, those are the ideas, anyway. The gold could be stored as safely as it can be, comparable to vaults worldwide or better than them. [Thanks Laissez Faire Today (email letter)]
    I think Joseph Smith tried that one with the Kirtland Bank and a box of rocks.

  5. Amen Raphael amen'd this post.
  6. #135
    tWebber
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    Evolution, an online marketplace, did an apparent "exit scam." By turning off its servers, the owner or owners of Evolution apparently ripped off $12 million worth of bitcoins (note that the dollar value of a bitcoin can vary quite much over time). What is not clear to me how the Evolution people would be able to profit off that hoard. Perhaps anonymity can hurt ordinary people, I mean the anonymity of many crimes, some of which were never solved. However, couldn't some if not all of the rightful owners band together to keep an eye on when the coins would be traded? I'm not sure what they could do, though.

    ETA: The dollar value of a bitcoin (average by http://www.coindesk.com/price ) is holding up, thank you, or is rising. I am surprised.
    Last edited by Truthseeker; 03-23-2015 at 11:49 AM.
    The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

    [T]he truth Iím after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -ó Marcus Aurelius, Meditations

  7. #136
    tWebber
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    Disclaimer: I own some bitcoins.



    From Michael A. Robinson (Money Map 2015 05 08):
    1) "Goldman Sachs Group Inc. (NYSE: GS) recently said that it is co-leading a nearly $50 million investment in Bitcoin payments startup Circle Internet Financial as part of its effort to buy stakes in young financial-tech (fintech) companies." [Surprise there, one would think that big banks would be loath to give Bitcoin any support.]
    2) " . . . itBit will be the first Bitcoin exchange to operate out of New York state - the capital of the financial world." [itBit can be used like a bank {NOT a reco}].
    3) Robinson thinks Overstock is trying to establish the first stock market that is based on the Bitcoin. {NOT a reco}
    4) Robinson wrote, " . . . [is anticipating] the SEC approval of the Winklevoss Bitcoin Trust, which would be the first full-fledged Bitcoin ETF." {NOT a reco}
    The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

    [T]he truth Iím after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -ó Marcus Aurelius, Meditations

  8. #137
    tWebber Irate Canadian's Avatar
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    Quote Originally Posted by Truthseeker View Post
    Disclaimer: I own some bitcoins.



    From Michael A. Robinson (Money Map 2015 05 08):
    1) "Goldman Sachs Group Inc. (NYSE: GS) recently said that it is co-leading a nearly $50 million investment in Bitcoin payments startup Circle Internet Financial as part of its effort to buy stakes in young financial-tech (fintech) companies." [Surprise there, one would think that big banks would be loath to give Bitcoin any support.]
    2) " . . . itBit will be the first Bitcoin exchange to operate out of New York state - the capital of the financial world." [itBit can be used like a bank {NOT a reco}].
    3) Robinson thinks Overstock is trying to establish the first stock market that is based on the Bitcoin. {NOT a reco}
    4) Robinson wrote, " . . . [is anticipating] the SEC approval of the Winklevoss Bitcoin Trust, which would be the first full-fledged Bitcoin ETF." {NOT a reco}
    Please, Bitcoins are not going to take off. There's too much working against them on the technical side.
    "It's evolution; every time you invent something fool-proof, the world invents a better fool."
    -Unknown

    "Preach the gospel, and if necessary use words." - Most likely St.Francis


    I find that evolution is the best proof of God.
    ---------------------------------------------------------------------------------------------------------------
    I support the :

  9. #138
    tWebber
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    A quick way to unsubscribe a thread is to click on the "Thread tools" button near the top of the page. A menu will drop down, and it has the entry "Unsubscribe." There you go.

    What technical issues? It does take much time to verify the blockchain. Anything else?
    The greater number of laws . . . , the more thieves . . . there will be. ---- Lao-Tzu

    [T]he truth Iím after and the truth never harmed anyone. What harms us is to persist in self-deceit and ignorance -ó Marcus Aurelius, Meditations

  10. #139
    tWebber Irate Canadian's Avatar
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    Quote Originally Posted by Truthseeker View Post
    A quick way to unsubscribe a thread is to click on the "Thread tools" button near the top of the page. A menu will drop down, and it has the entry "Unsubscribe." There you go.

    What technical issues? It does take much time to verify the blockchain. Anything else?
    It has a couple of issues plaguing it from usage in my eyes:
    1. The blockchain will increase to a point where it is infeasible to download.
    2. IIRC the way the client for Bitcoins is written, it doesn't allow you to move your wallet.dat(i.e where money is stored.)
    3. Transactions can be traced quite easily, unless multiple precautionary steps are taken.

    I'll add once I remember the rest.
    "It's evolution; every time you invent something fool-proof, the world invents a better fool."
    -Unknown

    "Preach the gospel, and if necessary use words." - Most likely St.Francis


    I find that evolution is the best proof of God.
    ---------------------------------------------------------------------------------------------------------------
    I support the :

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