Kirill Klip.: Even Golden Bubbles Are Made Of Bubbles: Bitcoin Vs. Gold - Some Thoughts And Infographic.

Bubble Chronicles. Mystery Solved: Meet Satoshi Nakamoto - The Face Behind Bitcoin

Kirill Klip.:

Even Golden Bubbles Are Made Of Bubbles: Bitcoin Vs. Gold - Some Thoughts And Infographic.

  

  Even Golden Bubbles Are Made Of Bubbles. I was following Bitcoin for a while ... and other 50 crypto-currencies. Once the amount of crypto-ideas about Gold 2.0 exceeded 60 - I have lost my interest. But the last Fall moment was truly historical: when Bitcoin has briefly touched parity with Gold. 

  I will leave you to your own studies on this subject, but will mention only one particular angle. Bitcoin was supposed to be the competition to FIAT currencies. Why there is such a "tolerance" from authorities in U.S. - compare to the "FED's 100 years War on Gold"? Maybe I know the answer, maybe you will find another one. Gold is finite and the Only Money accepted for thousand of years as such. It cannot be printed or created in any way apart from the very hard work to discover and recover it from the ground. Gold companies are mining the dust now compared to the 90s and new discoveries are few and far between. Bitcoin, on another side, can be manufactured at Will and there is the different opinions about the Control of this Will in Bitcoin case, but NSA will always provide you with the better substitute of Bitcoin at some point: NSAcoin. 

TNR Gold: Shotgun Gold Project - Why Do We Need New Gold Deposits?

  Some wise, but very dangerous men once said: "We will take the best out of Them, we will intrigue them by Enigma and Secret, we will make Them think that they are running the world ... but it will be Us who is really in charge." Do you see the historical parallels?"Brothers" are still in denial and Bitcoin "revolutionaries" are fighting the FED ... 

Chris Martenson: The Perfect Business Case - Exponential Money And Limited Resources Supply.

  I will encourage you to read the brilliant "Gold Price Relative To Monetary Base At All-Time Low":

"The newest edition of the annual In Gold We Trust report is out. This eight edition goes again to the heart of gold’s value and analyzes the yellow metal as a monetary asset rather than an industrial commodity. The In Gold We Trust 2014 report takes a sober look at the big picture in the monetary system and offers a holistic analysis of the gold sector. It is written by Ronald Stoeferle who is the managing partner of a global fund at Incrementum AG in Liechtenstein, based on the principles of the Austrian school of Economics. GoldSilverWorlds."

  If James Rickards is right with his "The Death Of Money", which I think is the case, than we are heading straight into the Currency Collapse at some point. The idea to test the substitutes to US Dollar and build up the opposition to the Only and True Money - Gold is very attractive. Problem is that the people with a lot of even FIAT money prefer Gold, only people with a lot of Debt are searching for Gold 2.0 - China buys Gold and encourages its citizens to do so. And as James Rickards has put it:

  

Jim Rickards‏@JamesGRickards

#Bitcoin fans are always promoting "Gold v Bitcoin" debates. I've never seen a #gold advocate do that. #RealMoneyEnvy

Bubble Chronicles. Mystery Solved: Meet Satoshi Nakamoto - The Face Behind Bitcoin

 

  One mystery is solved: Satoshi Nakamoto is found and another one: when this bubble will be finally over will be found soon. Warren Buffet has discussed it recently and dismissed Bitcoin as a currency, as a store of value it is not working very well for the latest buyers from the last Fall. It will be more and more difficult "to find another fool" to buy it at a higher price after all recent news about Mt. Gox bankruptcy, millions of lost Bitcoins and crucial technical fault in Bitcoin architecture allowing it to happen. Constant attacks from the  Central Banks around the world will only add to the pressure on FIAT alternative. There is no "Gold 2.0" - there is only one real Gold and not so much of it left now.

  After these revelations about Satoshi Nakamoto pedigree and his long history of working on highly classified projects  you can think for yourself from what point in time NSA has been really involved in this project and what will be the implications on Bitcoin crowd of "freedom fighters" with further investigation reports coming out. The destiny of Bitcoin speculators we can learn from the history.

"I am no longer involved in that and I cannot discuss it," he says, dismissing all further queries with a swat of his left hand. "It's been turned over to other people. They are in charge of it now. I no longer have any connection."

The Future Of Money: Gold, CIA And Bitcoin

Bubble Chronicles: Drug Site Silk Road Wiped Out By Bitcoin Glitch

Bitcoin plunges 50% on Mt. Gox to hit USD230 as troubles continue

  So much for the store of value and "Gold 2.0": Bitcoin continues its troubles now related not only to the herd mentality chasing the bubbles, but to the fatal flaw in the core of it praised crypto-currency architecture. Meanwhile the real and one only Gold is breaking out with topping $1,322 intraday. Realisation that there is no substitutes for Gold will be another factor to ignite this new Gold Bull leg. China was first here again and bought record amount of 247 tons of Gold in January.

Bubble Chronicles: Bitcoin Crashed Down Fast to $500 at Mt. Gox and $102 at BTC-e today.

"After all the news about the Mt. Gox and Russia making any transactions with Bitcoin illegal, Bitcoin is crashing fast now with Mt. Gox  quoting below any other exchanges at $530 and Litecoin is down to $15.

  Bitcoin has printed low $500 on Mt Gox and fell as low as $102 at BTC-e today! So much for the crypto-currency reliability as exchange, the "value" of vapour currency can literally evaporate at any moment.  Time is for Gold to shine again, it does not need any substitutes and is breaking out to the upside today clearing $1270 level."

 

Newsweek:

The Face Behind Bitcoin

By Leah McGrath Goodman

Satoshi Nakamoto stands at the end of his sunbaked driveway looking timorous. And annoyed.

He's wearing a rumpled T-shirt, old blue jeans and white gym socks, without shoes, like he has left the house in a hurry. His hair is unkempt, and he has the thousand-mile stare of someone who has gone weeks without sleep.

He stands not with defiance, but with the slackness of a person who has waged battle for a long time and now faces a grave loss.

Two police officers from the Temple City, Calif., sheriff's department flank him, looking puzzled. "So, what is it you want to ask this man about?" one of them asks me. "He thinks if he talks to you he's going to get into trouble."

"I don't think he's in any trouble," I say. "I would like to ask him about Bitcoin. This man is Satoshi Nakamoto."

"What?" The police officer balks. "This is the guy who created Bitcoin? It looks like he's living a pretty humble life."

I'd come here to try to find out more about Nakamoto and his humble life. It seemed ludicrous that the man credited with inventing Bitcoin - the world's most wildly successful digital currency, with transactions of nearly $500 million a day at its peak - would retreat to Los Angeles's San Bernardino foothills, hole up in the family home and leave his estimated $400 million of Bitcoin riches untouched. It seemed similarly implausible that Nakamoto's first response to my knocking at his door would be to call the cops. Now face to face, with two police officers as witnesses, Nakamoto's responses to my questions about Bitcoin were careful but revealing.  More"

Bubble Chronicles: Drug Site Silk Road Wiped Out By Bitcoin Glitch

  Update: Feb 16th, 2014

Bitcoin plunges 50% on Mt. Gox to hit USD230 as troubles continue

  So much for the store of value and "Gold 2.0": Bitcoin continues its troubles now related not only to the herd mentality chasing the bubbles, but to the fatal flaw in the core of it praised crypto-currency architecture. Meanwhile the real and one only Gold is breaking out with topping $1,322 intraday. Realisation that there is no substitutes for Gold will be another factor to ignite this new Gold Bull leg. China was first here again and bought record amount of 247 tons of Gold in January.

Bubble Chronicles: Bitcoin Crashed Down Fast to $500 at Mt. Gox and $102 at BTC-e today.

"After all the news about the Mt. Gox and Russia making any transactions with Bitcoin illegal, Bitcoin is crashing fast now with Mt. Gox  quoting below any other exchanges at $530 and Litecoin is down to $15.

  Bitcoin has printed low $500 on Mt Gox and fell as low as $102 at BTC-e today! So much for the crypto-currency reliability as exchange, the "value" of vapour currency can literally evaporate at any moment.  Time is for Gold to shine again, it does not need any substitutes and is breaking out to the upside today clearing $1270 level."

CNN:

Drug site Silk Road wiped out by Bitcoin glitch

By Jose Pagliery  @Jose_Pagliery February 14, 2014

NEW YORK (CNNMoney)

The revived online black market Silk Road says hackers took advantage of an ongoing Bitcoin glitch to steal $2.7 million from its customers.

The underground website's anonymous administrator told users Thursday evening that attackers had made off with all of the funds it held in escrow. Silk Road serves as a middleman between buyers and sellers, temporarily holding on to funds in its own accounts during a deal. Buyers put their money into Silk Road's accounts, and sellers withdraw it.

At the time of the attack, here were about 4,440 bitcoins in Silk Road's escrow account, according to computer security researcher Nicholas Weaver.

The news has shaken confidence in Bitcoin. Prices dropped sharply overnight, though they've since bounced back to about $660.

Related story: What is Bitcoin?

Silk Road can only be accessed on the deep Web using Tor, a special program that hides your physical location. The FBI shut down Silk Road and arrested its alleged founder in October, but shortly thereafter, tech-savvy outlaws started Silk Road 2.0 in its place.

It is primarily used to buy and sell drugs. Bitcoins are the only kind of currency accepted on the site, because they are traded electronically and are difficult to trace to individuals. But Bitcoin accounts also lack protections that most bank accounts have, including government-backed insurance.

That means the bitcoins stolen from the Silk Road users are gone forever.

 

A look at rebuilt drug bazaar Silk Road

The new site's administrator, a faceless persona known only as Defcon, posted a nerve-racking message Thursday night that began with, "I am sweating as I write this."

He said hackers took advantage of the same flaw in Bitcoin that knocked major exchanges Bitstamp and Mt.Gox offline over the past two weeks. That glitch allowed Silk Road hackers to repeatedly withdraw bitcoins from the site's accounts until they were empty.

In detailing the alleged hack, Defcon listed the online identities of the three supposed attackers and shared records of the transactions. And in an example of the kind of dark, dangerous world of illegal drug trade, Defcon called on the public to "stop at nothing to bring this person to your own definition of justice."

"I failed you as a leader and am completely devastated by today's discoveries," Defcon wrote, adding that the website should have followed the approach of other major Bitcoin exchanges and halted withdrawals due to the Bitcoin system flaw. Silk Road has since temporarily shut down.

Many have accused the site's administrators of faking the hack and stealing the money themselves. But in a world where drugs are outright illegal -- and there's little to noregulation of Bitcoin transactions -- it's difficult to prove anything.

It's just his kind of bad news that smears Bitcoin's credibility and keeps the currency from going mainstream.

Computer developers around the world have been working on software updates that allow exchanges to make up for the security hole in Bitcoin. The largest exchange, the Slovenia-based Bitstamp, said it was implementing a fix as early as Friday. "