Re: Mind's Eye Re: Bitcoin

It seems that a logical next step is to drive integration of diversified
interests (it is a mutual interest investment like shares in a company
it seems) to guarantee a strong foothold before targeting the general
population. Perhaps in five years or so we will see some local banks
acting as exchanges to service micro-transactions and smaller
resource-based, commodity backed currencies. It is backed by something,
mutual interest in success, and assuming the network can outpace
interests that could harm the trust of the participants there is much
more potential to this than we've read about, it could present as a
universal alternative to the nationally manipulated currencies and
provide insulation against a looming hedge/futures crash, for investors,
businesspeople and common people alike.

At this point though the late adopters crowd is holding the bag of risk,
and it would be wise for the exchanges to consider backing the network
with a hard-backed insurance plan for the network. Part of that is the
drive for integration into current infrastructure but I think that
presents a challenge of two currencies going in opposite directions! But
this may be that golden historic opportunity to open up some
dual-economy proposals, a certain resource based theories come to mind. :)

On 12/3/2013 11:19 AM, Allan H wrote:
> I saw the value to bitcoin years ago and but it was the toy of the
> elite and they did not want me as part of it.
>
> I know what you said and it's only partly true. The value of a
> currency is determined by the governments ability to cover its debt.
> Inability to cover its debt causes hyperinflation. In the US this
> hyperinflation adjustment recently occurred turn the weasel Bush's and
> the republican reign. The currency was adjusted so they could borrow
> more money to finance their private war..
>
> What you are seeing with the bitcoin is hyper inflation. That Andrew
> is economic instability.
> The only control of bitcoins is greed. And that is the real problem..
> It not value but people's greed that is driving the overinflated value.
>
> Oh well if you feel safe have fun.. if it had a real value the
> exchange rate would not be exceeding inflationary rate.
>
> Matrix : Soul controls mind.
> ( : Do No Harm
> [_D Allan H
>
> -----Original Message-----
> From: andrew vecsey <andrewvecsey@gmail.com>
> To: minds-eye@googlegroups.com
> Sent: Tue, 03 Dec 2013 4:01 PM
> Subject: Re: Mind's Eye Re: Bitcoin
>
> The extra value to Bitcoins comes from the people who a ready to buy
> them at the higher price because they value what Bitcoins can do. Is
> my answer still skirting the issue for you?
>
> On Tuesday, December 3, 2013 11:16:16 AM UTC+1, Allan Heretic wrote:
>
> Andrew. Several years ago I did look into bit coin mainly to
> create a small market. Didn't work out though I think because they
> were not interested in tangible goods. It seemed they were only
> interested in goods that disapated over time.
>
> Now if they allowed me into their game and sold even one hand made
> chain for 100 bit coins (at the time the dollar and bitcoin were
> of about equal value.)
>
> My problem is that chain I sold for 100 bitcoins is still more or
> less worth $100-- . But the bitcoins are now worth over 10,000
> bitcoins. Now the question to explain is where did the extra value
> cone from?.
> Don't try to skirt the issue just answer the question.
>
> Matrix : Soul controls mind.
> ( : Do No Harm
> [_D Allan H
>
> -----Original Message-----
> From: andrew vecsey <andrew...@gmail.com <javascript:>>
> To: mind...@googlegroups.com <javascript:>
> Sent: Tue, 03 Dec 2013 9:02 AM
> Subject: Re: Mind's Eye Re: Bitcoin
>
> Unfortunately, people are too brainwashed, too addicted to money,
> too afraid, too stupid, and think they know too much to know their
> true power.
>
> On Sunday, December 1, 2013 9:01:29 PM UTC+1, Allan Heretic wrote:
>
> Bwankers is a great word for bit coins Molly and Don it was
> dutch tulips.. And that is an interesting economic period in
> the Netherlands. Tulips did have real value and still do to
> this day. We go fir drives just to see the crops.
>
> The eccomic problems came from choices of tulips precisely
> which tulips. The most sought after were the ones with flaming
> stripes, they were highly prized. There in lies the problem.
> That flaming is caused by a deadly virus that could ravages
> entire fields and crops.
>
> Poor choices made in ignorance an example of fools and their
> money soon parting.
>
> Matrix : Soul controls mind.
> ( : Do No Harm
> [_D Allan H
>
> -----Original Message-----
> From: Molly <moll...@gmail.com>
> To: mind...@googlegroups.com
> Sent: Sun, 01 Dec 2013 8:01 PM
> Subject: Re: Mind's Eye Re: Bitcoin
>
> Bwankers
>
> On Sunday, December 1, 2013 10:53:49 AM UTC-5, Don Johnson wrote:
>
> "Has anything in the past gone up in value so fast?"
>
> Why, yes. I recall reading about some Danish tulip bulbs
> in the 17th century...
>
> Forgive me if I don't jump on this Bitcoin bandwagon. Even
> at their current inflated prices I think actual gold and
> silver are the smarter alternate forms of currency to the
> dollar or Euro. I would hesitate to store them in bank
> safe-deposits, however, as my country has an unfortunate
> history of raiding private boxes for precious metals.
> Executive Order 6102. Those Bastards...
>
> dj
>
>
>
> On Wed, Nov 27, 2013 at 8:21 AM, andrew vecsey
> <andrew...@gmail.com> wrote:
>
> Dear members.
> I am happy to see that we seem to be back to our
> normal running mode.
> I was shocked to see that Bitcoin is at present
> trading for 1 BTC = $890.00. 3 years ago it traded for
> 1 BTC = $0.05.
> What do you make of that? Has anything in the past
> gone up in value so fast? Does it point to the
> eventual demise of the dollar? Is it because people
> are hording it? Is it because of the world situation
> with some countries trying to get off the dollar and
> the petro dollar as the world currency? Is it
> because the BTC has such promise to break away from
> the control of the banksters? Does anyone in this
> group use Bitcoin? Other than buying drugs and giving
> donations, I do not see much use for it in
> Switzerland. Nor is it well known here. I hear that in
> other countries, it is used for buying more things.
>
> I made an addition to my previous video "Bitcoin -
> Simplified" called "Bitcoin wallets". I invite you to
> watch it and comment on it.
>
> The link to my video is below:
>
> https://www.youtube.com/watch?v=_uwWbDW249I&feature=c4-overview&list=UU9rOAPUfZe3KEja0vvFpe_A
> <https://www.youtube.com/watch?v=_uwWbDW249I&feature=c4-overview&list=UU9rOAPUfZe3KEja0vvFpe_A>
>
> The text for those that prefer text only is below.
>
> *Bitcoin wallets*
>
> In order to send and receive Bitcoin (BTC), a BTC
> wallet must be used. Each wallet acts like a
> letterbox, having a *public address* so that anyone
> can send and insert Bitcoins into it and a *private
> key* to access, remove or send any of the Bitcoins it
> holds. BTCn addresses and private keys are strings of
> numbers and letters like
> "175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W" or QR matrix bar
> codes of the strings. A BTC wallet is a free open
> source program called a "BTC client" that generates
> public addresses and private keys. They come in a
> variety of forms, from *mobile wallet* apps for mobile
> devices, *software wallets* like "Multibit" for
> computers and *web wallets* available at sites like
> _www.blockchain.info <http://www.blockchain.info>_ or
> _www.coinbase.com <http://www.coinbase.com>_. Just
> like email, all wallets can interoperate with each other.
>
> Mobile wallets allow you to bring Bitcoin with you in
> your pocket. You can exchange coins easily and pay in
> physical stores by scanning a QR code or using Near
> Field Communication Technology (NFC) for "tap to pay"
> ease. Software wallets are installed on your computer.
> They give you complete control over your wallet. You
> are responsible for protecting your money and doing
> backups. Web wallets allow you to use Bitcoin anywhere
> with less effort to protect your wallet. However, you
> must choose your web wallet with care as they host
> your Bitcoins. The public addresses and private keys
> of wallets can be stored on a memory stick or printed
> out on paper so that the wallet can be recovered if
> the phones or computers fail or get lost, or the web
> sites are shut down.
>
> Once you have a BTC wallet, there are 2 ways to fill
> it with Bitcoins; mining and buying. *Mining* involves
> running a BTC Mining program on your computer that
> records all BTC transactions in the BTC peer to peer
> (P2P) network. Your computer becomes a bookkeeper that
> keeps a ledger of all transactions that are relayed to
> you and that you relay to every other BTC miner. At
> the same time each miner works on solving a very
> difficult puzzle that can only be solved heuristically
> by trying various solutions at rarndom. Like a
> lottery, someone has to eventually hit on the solution
> by chance. If you are the first to solve this puzzle,
> then the ledger of the transactions you recorded must
> be accepted by every other miner and you get rewarded
> with new Bitcoins generated. This can be compared to
> mining for gold and being lucky to find some. An
> /easier/ and much /quicker way/ to acquire Bitcoins is
> *buying* some. You must register at a commercial
> Bitcoin exchange, like _www.bitcoin.de
> <http://www.bitcoin.de>_, _www.bitstamp.net
> <http://www.bitstamp.net>_, or _www.mtGox.com
> <http://www.mtGox.com>_ where you can send a money
> transfer from your bank to buy or sell Bitcoins.
>
> Bitcoins are traded on the free markets. 3 years ago,
> 1 BTC was worth $0.05 USD. At present, Nov 26 2013, 1
> BTC is worth $890.00.To keep your Bitcoins safe,
> spread them out over different wallets by generating a
> new wallet for each transaction. If you have your
> wallet stored on your computer or mobile phone, make
> sure to keep the software up-to-date. Follow general
> internet safety protocols like not downloading
> anything you don't trust, using a virus checker, and
> choosing passwords that are at least 13 characters
> long with a mixture of upper and lower case letters,
> numbers and symbols. Always create a *paper wallet* -
> a paper print out of your wallet`s address and private
> key. If you lose your private key, you will not be
> able to access your Bitcoins and will lose them. If
> you lose your public key, you will not be able to
> receive any Bitcoins. Treat the print out of your
> wallet just like cash - if your BTC wallet contains a
> great deal of Bitcoins, then keep your print out in a
> fireproof safe or a bank security box.
>
>
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