Gold and Bitcoin

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DoChenRollingBearing

DoChenRollingBearing

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I almost hesitated to put this announcement here in "Fiat Ponzi", but it fits just as well here as anywhere else, smile,,,

I have been wanting to write something like this for sometime, info on both gold and BTC as well as "comparing and contrasting" them. I like them both, for different reasons. Diversification!

"Gold and Bitcoin"

http://tinyurl.com/krm78h7
 
That was a long post DCRB! I did enjoy your comparison at the end. I do think it should be pointed out that BTC requires a functional IT infrastructure to use. Gold does not.
 
The rise of bitcoin has been the biggest change in the digital world. It has transformed the payment system into a higher level. Its popularity created speculations, some even thought that bitcoin is a big scam or a Ponzi scheme. Well, we'll never know. It's still a big experiment. Bitcoin as gold 2.0? Let's see...http://bitcoindaily.com/bitcoin-gold-2-0/.
 
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It's too bad that bitcoin is getting the thrashing it is. Over the weekend, the directors of Mt. Gox resigned, so I expect to see bitcoin pretty much collapse today. We'll see.
 
I think you are underestimating the willingness and capabilities of governments around the world. Mt Gox was taken down on purpose.

I think it's only a matter of time before we see governments go after vendors who use bitcoins. They will probably doing it because of anti-laundering laws or some guise like that. China already banned conversion of bitcoin into reminbi and Russia has banned the USE. Apple has banned apps that create a bitcoin wallet. It's only a matter of time before the EU and USA start passing laws to protect the public. The writing is on the wall and has been for a while. There is a major risk IMO
 
Well when the govt. decides to put the kabosh on digital currency, all I can do is sit there at my keyboard saying "hey, what happened?!" Where as with physical PM's the govt. can try to take it, but first they have to find what I don't have on me (I forgot where most of my boats sank) and then they can take by force the stuff I have readily available, and they will get that the same way they will get my guns. They better bring a good prybar.
 
11C1P said:
Well when the govt. decides to put the kabosh on digital currency, all I can do is sit there at my keyboard saying "hey, what happened?!" Where as with physical PM's the govt. can try to take it, but first they have to find what I don't have on me (I forgot where most of my boats sank) and then they can take by force the stuff I have readily available, and they will get that the same way they will get my guns. They better bring a good prybar.
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Yep.. IMHO.. The effort they would need to annihilate bitcoin is much less than they would need to do house to house searches for gold and guns.
 
oh look its a bit below $700 today )-:

total collapse then

Theres all too many 'experts' who clearly cant wait for bitcoins demise so they can crow.
And all the worlds govs have, so far, failed to kill it.

That tells me that the many freedom loving individuals who hold bitcoin are able to ignore the efforts of the collective 'controllers' and continue to use and support it.

I was neutral on bitcoin but am beginning to warm to it (-:
 
Well.. I don't claim to be an expert on bitcoins. I hope people make a lot of money on it.
 
sorry Derek

that wasnt meant to be a dig at you.

Ive just got a bit fed up with reading about how no Mt Gox meant no more bitcoin.

And every time they find a way to knock BTC back it seems to be able to recover.
 
Oh I didn't take it personal. We all have the same goal and are trying to help each other.

As for bitcoin.. This is the guy in charge of the mt Gox exchange.

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yeah... i'll stick with my gold :mrt:
 
I couldn't care less if bit coin goes through the roof or goes bankrupt. It's great if people can make money out of it. Just because it's not something I don't like doesn't mean I'm hoping for it to go belly up, or anyone to ban it. I'm not like people who think anything they don't like should be banned.
 
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11C1P said:
I couldn't care less if bit coin goes through the roof or goes bankrupt. It's great if people can make money out of it. Just because it's not something I don't like doesn't mean I'm hoping for it to go belly up, or anyone to ban it. I'm not like people who think anything they don't like should be banned.
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100% agree. I don't want to see bitcoin banned but it's clear outside forces are attacking it from all angles at this point. The latest news on mt gox is a definitely not helping matters.
 
Well Buffet said he wouldn't be surprised if there was no more bitcoin in 10-20 years, so is he saying that cause he wants it to tank even more before he buys it, or does he think it will be gone it 10-20 weeks and trying to help it keep going so he can get whatever money out of it him or his friends have in it.

I was also laughing when they were talking about it on TV yesterday and one of the guys said, it has nothing backing it like gold or a govt.. One genius defending bitcoin pointed out that gold has nothing backing it either. Of course in the grand scheme of things it's just a metal, you can't eat it, drink it, breathe it, or bang it. BUT, gold has always had value, and I don't think most people foresee anytime in the future it being worthless either.
 
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