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Showing 20 of 69 results by dre_2ooo
Re: So... I just spent all my paper IOU notes. My life's savings!
I'm not an official "expert" (whatever that word means), but I spent a huge amount of time getting informed about gold. IMO, the rubber band is FAR streched to the downside, in fact, unbelievably far. Gold is at the price of production, and some claim it has never been so cheap in history compared to the amount of fiat existing.
If you watch the day-to-day manipulation, its clear those guys have a harder and harder time to keep the price that low. They just can't do it anymore (doesn't mean another spike down isn't possible).
No way gold is going to $800, and unlikely it's going to $1000 either. We are very far down now.
Glad to hear this.
Do you have any links to any articles/videos where I can learn more about this?
Because BTC is not able to be printed or inflate.
So why arent more people jumping onboard?
Because those who run the
Re: So... I just spent all my paper IOU notes. My life's savings!
Sooo,
If the dollar is going to collapse, why wouldn't you go short 30 year treasuries in a major way?
If the dollar is going to collapse, why wouldn't you go short 30 year treasuries in a major way?
Because I don't want to wait & have my money tied up in such a risky (in the short-term) proposition, and when the dollar does collapse, who's to say I'll even be able fulfill the shorted orders and cash out (ie. the system might be completely shut or locked down)?
You should've waited on the gold and checked the COT open interest. The large commercials are maxxing out their humongous short positions right now. They are gonna drive gold into the ground shortly.
I heard that too, just curious for new sources of info - where do you have that info from?Let's see if this is really what will happen.
The gold market is highly manipulated. How do we know if it will go down soon ?
This. The fraudsters and banksters will always suppress the gold price. If the price is driven into the ground from shorts, 'twill be a good opportunity to buy, no?
Re: So... I just spent all my paper IOU notes. My life's savings!
Even if we switched to 100% electric vehicles, every single mechanically moving device (including the cogs in an electric motor) rely on... you guessed it.... oil. Oil will ALWAYS be precious. Think about it, think about every single moving part in machinary in industry that builds... well... everything!
There are MANY silicon and graphite based lubricants out there....
Re: So... I just spent all my paper IOU notes. My life's savings!
Stocks are volatile, to me, since they are subject to the whim of the banksters and fed. Inflation rises? Stocks rise. Some bubble pops? Stocks fall. Dollar collapses? Stocks fall. The Fed is printing 40 Billion (with a B) USD per month to buy bonds to try and emulate a negative interest rate. This exponential growth can't last. When the Dollar collapses, it will bring all the world's markets down with it.
Gold, real estate, firearms, long-storable food, and BTC should be safe from these collapses, albeit they won't earn you the same rate of return as the market... (except BTC, that'll go to the moon, of course
). The market is run by the fuckers that want us all to stay enslaved in the debt fiat bank-run oligarchy disguised as "Republic Capitalism." More than the above points, my heart-felt believe about not wanting to be a cog in that debt machine keeps me out of the markets. The notion that you must keep your money in their controlled and insider-manipulated stock system to keep your bank notes from losing value over time because their rigged fiat-printing insolvent money policy is not even a store of value makes me sick. I'll have no part of it, thank you.I agree on many things. If dollar collapses (which seems inevitable), the assets you mentioned will indeed be very valuable. But if you choose stocks like Coca-Cola or Procter and Gamble, which have raised their dividends for over 50 consecutive years, I'd say it would take a lot for them to decrease their dividends. Their prices can go down of course even if they don't cut dividend, but I find it very difficult to imagine a situation where you can buy Coca-Cola yielding > 4 %. Having that kind of dividend history makes prices of these kind of stocks very stable. And owning them provide you with annually growing stream of income.
I want to point out that I'm not against your decisions, it's just great to have a conversation about stocks with someone
Yes this is true and a fun conversation. I welcome all points of view. To have enough in coca cola, etc.. to where the dividend income is significant, means that a significant amount of one's wealth is subject to a market collapse or if liquidity is needed and the market is down, I wouldn't want to sell to provide said liquidity.
With gold\BTC, they are highly liquid and you can keep them in your possession whilst still having potential to appreciate. I (and most of us) do own stocks by proxy via the 401k through my work. So, I guess I actually am diversified into them as well, but they're kind of out of sight/out of mind.
Real estate is not liquid, but caaaaaaan always be borrowed against in times of dire need. If shit hit the fan, turning stocks into food, shelter, and comfort seems highly inefficient and risky to me.
I guess at the end of the day, I value being solvent and value relying on fiat as little possible. I absolutely seek to increase my wealth, but I'm not trying to be some wolf of btc wall street or Gordon Gecko or get absurdly rich in my investments.
Re: So... I just spent all my paper IOU notes. My life's savings!
Just curious, I would you pay for your daily expenses? In your area, are you able to buy everything you need with bitcoins?
Just curious, I would you pay for your daily expenses? In your area, are you able to buy everything you need with bitcoins?
This. Fiat is irreplacable in daily life as of now. How are you managing it?
Good questions. I am still paid in fiat, of course, by my employer. My plan from here on out is to use only what's needed for day-to-day spending in fiat, as my area is not BTC enlightened (although I have bought/sold on craigslist in BTC). Anything extra, that I would have traditionally put in a savings account, is going into real assists (ie. Bitcoin/miners, gold, improving my house, etc...)
Hi dre_2ooo,
I am 100% into cryptocurencies. No fucking FIAT.
Are you an expert of gold ? I would like to get some advices about it.
Did you get coins or bars ?
What about silver ? People say that it has more potential than gold. Is that true ?
What about other precious metals ?
Thanks.
Good for you!
I am not an expert, but I did a lot of research online. I decided to buy physical gold, not paper bullshit. I just went to my local coin shop and picked up some American gold eagle coins. I used an accurate pocket-scale and a set of digital calipers to verify they were the correct dimensions and weight (nothing is denser than gold, except some radioactive metals). Then I held each coin on a finger and lightly tapped it to make sure it gave out a beautiful long-lasting ringing noise at the same frequency I heard on Youtube videos. I am paranoid as I have seen lots of articles and posts about Chinese counterfeit gold, so these tests satisfied my scrutiny. Plus, the shop has a good reputation and has been in business over 25yrs.
I don't know anything about silver, other than it is much easier to fake and more volatile in the market. I only wanted gold since it has been the go-to source of intrinsic value since the dawn of man.
Just curious, I would you pay for your daily expenses? In your area, are you able to buy everything you need with bitcoins?
This is very interesting. I think living without FIAT isn't possible yet, but is it? Your moves seem nice and it's good that you have some diversification, but why would you say that stock markets are more unpredictable than BTC or metal markets? One thing in stock markets is that you gain more capital annually trough dividends. Your gold coins however don't get any bigger. Don't get me wrong, I own physical gold too, but I'm just interested why you don't see stock markets as part of diversification.Stocks are volatile, to me, since they are subject to the whim of the banksters and fed. Inflation rises? Stocks rise. Some bubble pops? Stocks fall. Dollar collapses? Stocks fall. The Fed is printing 40 Billion (with a B) USD per month to buy bonds to try and emulate a negative interest rate. This exponential growth can't last. When the Dollar collapses, it will bring all the world's markets down with it.
Gold, real estate, firearms, long-storable food, and BTC should be safe from these collapses, albeit they won't earn you the same rate of return as the market... (except BTC, that'll go to the moon, of course
). The market is run by the fuckers that want us all to stay enslaved in the debt fiat bank-run oligarchy disguised as "Republic Capitalism." More than the above points, my heart-felt believe about not wanting to be a cog in that debt machine keeps me out of the markets. The notion that you must keep your money in their controlled and insider-manipulated stock system to keep your bank notes from losing value over time because their rigged fiat-printing insolvent money policy is not even a store of value makes me sick. I'll have no part of it, thank you.Congrats!
In a world fiat debt based system, to determine true wealth it's not how much money you have, but how little you owe. Once one becomes debt free (surprisingly rare) then it's a measure how far into the positive you go with real assets, e.g. houses, land etc.
In a world fiat debt based system, to determine true wealth it's not how much money you have, but how little you owe. Once one becomes debt free (surprisingly rare) then it's a measure how far into the positive you go with real assets, e.g. houses, land etc.
Thank you!
. It feels like pure freedom! I have worked so hard and been so disciplined to save up for this day. It's ironic, though, how I had to be part of the system by taking out a loan for a house to acquire the house, so I couldn't have gotten to this point without monetizing debt. Weird.Congrats!
In a world fiat debt based system, to determine true wealth it's not how much money you have, but how little you owe. Once one becomes debt free (surprisingly rare) then it's a measure how far into the positive you go with real assets, e.g. houses, land etc.
In a world fiat debt based system, to determine true wealth it's not how much money you have, but how little you owe. Once one becomes debt free (surprisingly rare) then it's a measure how far into the positive you go with real assets, e.g. houses, land etc.
This is the true quote right here, i am debt free because of bitcoins surprising but true and i trust bitcoin more everyday and not about the value anymore, weather the price is down or high its always a saviour to me..
The only thing one faces now, which i see now as un-escapable is TAX, from purchased houses rented or for other commercial purposes, the govt always find a way to hit back at us but i see a bright future with bitcoins even if all i have is bitcoins and no fiat i will always be hopeful.
Good for you! Yes, taxes are inescapable. It makes me angry to even think that the income tax was invented to help pay off the goddamned interest charge the gov't owes the Fed. I'm all for building roads, schools, fire dept., etc..., but fuck that bullshit --my fucking wages are going to payoff some rich 1% private banksters' interest charge (.25% currently of all the money printed, every day).
So... I just spent all my paper IOU notes. My life's savings!
Yup, I just spent the last of my fiat money. I am now fully solvent!!
In December 2013, I bought $4k of mining hardware and have about 4.5BTC as of this writing.
One day last week, I paid off my mortgage ($96k) and spent the rest on gold. I figured those are better places for a constantly inflating currency to be invested rather than sitting in a <1% savings account or unpredictable stock market.
The interesting thing will be to see what the difference between gold and BTC will be. I picked up 3oz of gold for about $4,200. So it'll be interesting to see which will serve me better in the long run!
I know this is just a small drop in the bucket compared to some of you whales out there, but it's my little contribution to keeping my hard-earned money out of the banksters debt-slavery system. (except all the gold and paper wallets, which are stored safely in a bank security vault lol)
In December 2013, I bought $4k of mining hardware and have about 4.5BTC as of this writing.
One day last week, I paid off my mortgage ($96k) and spent the rest on gold. I figured those are better places for a constantly inflating currency to be invested rather than sitting in a <1% savings account or unpredictable stock market.
The interesting thing will be to see what the difference between gold and BTC will be. I picked up 3oz of gold for about $4,200. So it'll be interesting to see which will serve me better in the long run!
I know this is just a small drop in the bucket compared to some of you whales out there, but it's my little contribution to keeping my hard-earned money out of the banksters debt-slavery system.
(except all the gold and paper wallets, which are stored safely in a bank security vault lol)Re: The biggest problem with cold storage wallets is making sure that your address..
What is the best way to be absolutely sure my address is random|?
Has anyone ever thought about this issue?
Same here, I am extremely paranoia about this. Has anyone ever thought about this issue?
Almost 100% secure: just create them as brainwallets from very long random input strings. Obviously you don't need to remember these, they're meant for cold storage so they're not actual 'brainwallets'. They're just created in the same way as brainwallets, i.e. the private keys are hashes from strings. This rules out any dependency from random generators with possible weaknesses.
When I say 'very long random input strings', I mean garbage like this: (just typing a bunch of gibberish characters)
Code:
fY72^og(fU FO!MNxTL/rwA q2kd#plv0ni40X.e4 7n7*4nv5^3u 2_14h D!IQZD6k3L7n
For this particular example, the private key would be Sha256("fY72^og(fU FO!MNxTL/rwA q2kd#plv0ni40X.e4 7n7*4nv5^3u 2_14h D!IQZD6k3L7n") = eab9498f0c866509a2ff09fa40b556776f54b78f941f36cc69bdbf7832f45473, or expressed in more common Bitcoin format: 5KbfHWM9R2AKhoAtkcTDv6agnzJoPCHZkrEnSy8t8bnVTUHJnND and its corresponding address is 1FtUbMx47zhF3AUWTWCULQzDyRJgVDV23G.
Now, to compensate that last bit of paranoia (and just in case some day an entropy weakness is discovered in Sha256 or something), I took this one step further, and created the private keys for my 'big savings' addresses as three xorred hashes:
(1) Some generated (pseudo?)random private key (using bitcoind or bitaddress.org or whatever)
(2) The Sha256 hash of some long random garbage string
(3) The Sha3-256 hash of some different long random garbage string
So for example:
(1) = 5K2F4Ng3ZYx9s98yEj1ukm1boGEHrAt5rMxXy2cnRdMuQtgTVE7 = 9ed845749f418efc834f1b9b5fd0c1765e7ace2177153a59dc818d6ac5df6232
(2) = Sha256("wP7fB2-fo#90wZ7d 4p6.Z1Ug5r H!0tI6*gp7!zcn)V bw4!Qib") = 7220f93d3a8059d19a3a1be4a2e1c3294185ffcae61aece0d02d73d43f9840d2
(3) = Sha3-256("v5!0ZF%kv 2p0isI*yWJ dky3R7Q#en!4X6;UGS-v35r U#aw/5{61ca") = b6783aadb56f8228feb9673eaf15184417ecc3a1e854ed75bf26de1b126c1c26
Xorring these three gives 5a8086e410ae5505e7cc674152241a1b0813f24a795b3bccb38a20a5e82b3ec6 which results in 5JW9LPbpY1b8aLd8MHkZBCtSCbmA29oaHA1jmpf5dWAEntfYo58 / 13wCBWBnQ86kKHBztMm3j44wb53RYP8LuQ.
I'm quite convinced it doesn't get any more secure than this, in terms of private key 'randomness'.
How long would you say the random garbage string needs to be? 100 char? 200?
This intuitively seems more secure than 100 rolls of dice since that would make a string of numbers, whereas these garbage strings are full of numbers, letters, characters, and spaces.
Do you just make a new text document, mash your keyboard, then copy/paste the string into a brain wallet in bitaddress? Assuming this is all done on a computer that will never and has never seen the internet and on wired peripherals, of course.
Re: Money withdrawn from coinbase never received. What do I do???
Welcome to the American banking system!!! Days of pending, transactions not reported temporarily, and reversibility.
Why did you sell a BTC for only $540? Scared?
I would give it until Monday (next business day) and I would contact Coinbase support.
Why did you sell a BTC for only $540? Scared?
I would give it until Monday (next business day) and I would contact Coinbase support.
WOW! Just saw in real-time on bitcoinwisdom (Bitstamp chart) someone sell 4k coins on a market order in less than 30 seconds. Price went from 580 to 514USD as all the buy orders got filled. Crazy to watch!!!
Makes me want to BUY, but then I forget I'm mining at about $110/BTC in electricity use
Makes me want to BUY, but then I forget I'm mining at about $110/BTC in electricity use