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[spadman] 04/3/2017 01:07

unlike r/bitcoin r/btc isn't censored.

good luck alexx :)

[spadman] 04/3/2017 00:58

alexx I wasn't having a dig, it's just that I am as frustrated as Roger that bitcoin has been hijacked by core devs in the pay of blockstream who appear hell bent on killing the golden goose in favour of "off chain" fees for themselves.

Knowing the general public are largely unfamiliar with c++ they construct somewhat convincing sophist type arguments that constantly appeal to the "authority" of their technically superior (vs the general public) coders.

The truth is coders aren't visionaries. They don't understand economics, they don't understand risk/reward, they aren't students of Austrian economics nor do they have Libertarian values. All these things are essential to the true meaning of money and the liberation of plebs too poorly educated to understand their condition.

The idea bitcoins future should be entrusted to blockstream employed coders because they know c++ is a dangerous fallacy.

It would be nice to direct you to r bitcoin, but talk of scaling (unless it's seg wit) is pretty much considered taboo, a hard fork is considered an alt coin.

Doom and gloom monger Peter Todd is a professional risk assessor. He would have you believe breathing is bad because you could inhale a fatal germ or virus.

IMO we need a hard fork :)

[alexx] 04/3/2017 00:25

I was just having an initial look. My comment was a bit wrong, it was judged using the last 20 minutes. I had forgotten the $100 business on which you are right of course. Is there a site explaining in more technical terms how bitcoin works.

[spadman] 04/3/2017 00:06

Roger Ver is correct, using logical fallacy isn't a valid argument.

thanks for the link.

Out of curiosity alexx, how can you possibly agree with a man who thinks bitcoin transactions will go to $100 if it doesn't scale, and he doesn't have a problem with that?

First of all people would use dash rather than pay $100 per transaction so it will never get that high, second how can anyone think that isnt a problem. Remember segwit is blockstream, its a data base not blockchain.

[alexx] 03/3/2017 20:13

segwit?


Well the segwit guy seemed a bit more logical and controlled

[mcbeanburger] 03/3/2017 02:18

posting elsewhere... blah

hip happening people. I feel right at home.

[spadman] 03/3/2017 01:46

mcbeans gone quite, I meant trader not tarder. Sorry bout that.

[alexx] 02/3/2017 18:22

Gold parity turned out to be a bit easy, gold even helped quite a lot.

[spadman] 02/3/2017 15:27

Gold parity, if the ETF is approved... da moon

[spadman] 01/3/2017 23:21

dash has gone nuts, im sorry im gonna sell half, im turning into a tarder like mcbean :)

[random] 01/3/2017 16:26

XMR is still in corrective mode ... there's a quick 50% if it regains it's highs with btc.

[northern1] 01/3/2017 15:19

not long before gold price parity, should be an interesting inflection point. let's see

gold price today $1247

[spadman] 28/2/2017 23:40

poor old mcbean dash has doubled in the last two weeks whilst litecon has been relegated to the mchasbean of the crypto world :)

[spadman] 26/2/2017 21:28

I assume the ETF would be audited, have the bitcoins in cold storage and be insured against physical theft.

To my mind its better to have btc to hand if there is a future hard fork you'll have coins on both chains. If you look after your private keys your funds are secure. You can take your private keys anywhere in the World without scrutiny.

However for tax purposes there is an argument to support an ETF, instead of paying 28% tax on gains you would be able to put aside btc at a 40% discount to market value with no CGT should btc get into the six figures.

The ETF could be the way to go to store at least some of your patient BTC.

[alexx] 26/2/2017 15:12

SPAD - you're right of course but having your bitcoins in your own cold storage is hardly the same as dealing with an organization that says to you "I promise to keep your bitcoins in our cold storage."

EDIT I suppose it depends on rules / honesty / corruption as with gold.

[mcbeanburger] 25/2/2017 16:28

looks like biggie forming here.... watch out below. imo.

[spadman] 25/2/2017 10:45

if the bitcoins are in cold storage they cant be hacked.

[chinahere] 24/2/2017 19:39

What happens if/when the ETF wallet gets hacked ?

[mcbeanburger] 24/2/2017 13:38

let's see what happens with the etf....more then likely a long term hold point for sure. either way.

[spadman] 24/2/2017 09:50

If btc can achieve only a fraction of its ultimate potential we're looking at prices in the order of 5000% - 30000% higher than today.

It may be high risk but the rewards are there. If there is only a 10% chance bitcoin realises its potential surly that is worth putting in at least some patient money however small a % of your overall PF?

If you dont like $1100 as an entry point how are you going to like $10,000, $50,000 $200,000 $500,000?

[mcbeanburger] 24/2/2017 08:43

i'm willing to do that but I've got to have got in at the good entry point. otherwise it poor risk management.