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I think we are losing perspective here, if you want to prepare for these events you need to build a bunker stuffed full of baked beans and join the other survivalists. Hey, its not my thing, but whatever makes you happy.How could BTC function without internet? Who would know which bitcons got transferred ownership?
if necessary, tptb will cut/ration power to the domestic grid and channel reserves to what tptb deem 'essential' services, eg their homes etc.
My future scenarios do not include a world without internet or electricity, or where the government spends more money trying to destroy bitcoin that it does on a large portion of its military.
The whole subject is a grey area, but if you go down the path of apocolyse too far you simply reach the survivalists who've watched too many movies. (Though i used to enjoy The Walking Dead), anxiety leading to paranoia is probably not a pleasant place to be.0 -
Quck study bitcoin. Buy and hold diminishing return.
The massive money has already been mad in buying and holding bitcoins. The leaps in price from bottom to top are getting smaller.
The first leap took bitcoin from $0.02 to $35 for a gain of 85300%. The second leap was from a low of 5 to 238 dollars for 4760%. (i was able to cash out on this one.) The third, but probably not the final, jump was 67 to 889 for 1300%.
The time from the second to third spike is a lot less time than the first to second. I suspect a doubling in price from here. I doubt it will ever breach 1500. Something about a bitcoin being worth more that an ounce of gold is ludicris.
I know Max Keiser is pushing this stuff hard, and I find him to be very convincing on many of his points. I do believe bitcoin to have utility in the near future for moving money around the world. It's almost better than gold in that sense. However, million dollar bitcoins don't make sense in any way. Bitcoin being worth more than gold doesn't make any sense.
The people who will profit from bitcoin in the near to mid future will be the builders of infrastrucutre and markets for bitcoin to operate in.
http://blockchain.info/charts/market...ale=0&address=0 -
Paper that indicates Satoshi may be DPR: https://s3.amazonaws.com/s3.documentcloud.org/documents/839348/silk-road-paper.pdf
Article about "Bitcoin - The internet of money": http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/I know Max Keiser is pushing this stuff hard, and I find him to be very convincing on many of his points. I do believe bitcoin to have utility in the near future for moving money around the world. It's almost better than gold in that sense. However, million dollar bitcoins don't make sense in any way. Bitcoin being worth more than gold doesn't make any sense.
Look at what you're saying: you're comparing two completely different things that have absolutely no relation, and saying that the value of one cannot be more than the other. That's like saying your salary can't be higher than mine, or that moneysavingexpert.com can't make more money than a factory. There is no connection between the value of Gold and the value of a bitcoin, they cannot be compared, it makes no sense to try and compare them.
Bitcoin hasn't even reached any noticable level of market penetration, if Bitcoin becomes a widely used monetary system then the value of an individual bitcoin at present is going to be dwarfed by the future value.0 -
citricsquid wrote: »Paper that indicates Satoshi may be DPR: https://s3.amazonaws.com/s3.documentcloud.org/documents/839348/silk-road-paper.pdf
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This is a very interesting story, I've tried to pick through it but I'm left unable to verify any of the claims. Although thick with statistics and values, none of the information actually refers directly to the block chain. So nothing can be verified without doing lots of my own analysis.
From the information supplied I just can't clearly tell how connected DPR's money is to the block's Satoshi probably mined.
If the Bitcoins passed through other addresses on the way to his account, well 6 degree's of separation and all, it could belong to anyone.
Anyone else manage any better?
Worth noting: "Acknowledgments. This research was supported by a research grant provided by the Citi Foundation. " Which is of course a foundation which is part of the international banking giant Citigroup.
Possibly discrediting the competency of the authors:
https://gist.github.com/jgarzik/39019210 -
It all sounds like more of the same to me, MSM smear tactics by those who stand to lose a great deal. They have started working overtime and with some urgency recently, perhaps even desperation, but it's all expected. While still a relatively small scale global phenomenon, the rapidly expanding global adoption and recognition means btc is becoming a bud that can not now simply be nipped.
It's the same old tried and tested method, make accusations and in doing so change the narrative of the discussion. Those explaining the merits are then diverted into rebutting idiotic nonsense, the more salacious the details, the better it seems to work. Whether accurate or not is unimportant, it is the diversion that matters.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
I'm expecting the 'news' that Al Qaeda terrorist cells are funding operations using Bitcoin, surprised we haven't heard that one yet to be honest.
Most of what I read these days regarding Bitcoin is an attempt to discredit it!0 -
BoracicLint wrote: »I'm expecting the 'news' that Al Qaeda terrorist cells are funding operations using Bitcoin, surprised we haven't heard that one yet to be honest.
Most of what I read these days regarding Bitcoin is an attempt to discredit it!
That would be a perfect excuse to shut it down.
There are many reasons and ways to shut it down.
Look at tax on property sales slowly going up, what if they started taxing every bitcoin transaction?0 -
1 of the authors of that paper is adi shamir, who is the S in RSA - i.e. a pretty distinguished cryptographer. which doesn't make the paper correct, but i wouldn't dismiss it too readily.0
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It cannot be shut down... it can be driven underground. What are "they" going to do? Shut down the internet? What sort of global totalitarian hell hole are you envisaging just to stop free trade.
Look at how well that's working on the war on some drugs, where a market exists it will always find a way.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0
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