Bitcoin Alt-coin: GaltCoin

Posted by sender47 10 years, 10 months ago to Technology
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I suppose that as for now, bitcoin has proven to be defeating all probabilities, government persecution (China at the end of last year) and starting to get mainstream, overstock.com accepting them, regulatory agencies starting to treat markets as currency traders that have to be registered (france)...

Not gonna say that is being accepted by everyone, and there is a pretty strong opposition from government specially (http://www.forbes.com/sites/kashmirhill/...), but the fact of being growing is unavoidable.

Apart of knowing the Gulch thoughts now that bitcoin has been gaining strength, what are your thoughts about other cryptocurrencies, Litecoin, Dogecoin (a prodigy of marketing if you ask me). By the way, very recently was launched a Galtcoin, still very new, not in any exchange yet. XD.


PS: Wish us luck (Venezuelans) the next days weeks an months could be pretty moved and dangerous, strong food shortage, violence (for 3 days since Wednesday a armed gang took a small city Ocumare del Tuy :/, things each day are worse)


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  • Posted by Non_mooching_artist 10 years, 10 months ago
    Ok, a Bug Out Bag, or BOB, is a ready to grab bag of essentials in the event of a catastrophe, be it man made or natural disaster. Have at least 72 hours of easily transportable, non perishable food, clothing appropriate to the weather conditions, and extra undergarments and socks. Knife, flashlights, extra batteries, matches, water, sleeping bag, medications, money in whatever form you have, two way radios, tent if you have, firearm(s) and ammo, maps. Those are basics. You can tailor it to fit your needs/situation.
    Again, stay low and unobtrusive. Keep safe.
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    • Posted by 10 years, 10 months ago
      Thanks, I have something like that... although no firearms, their are illegal for a civilian.. (Unless you are a gang member, or a robber, illegal guns can be found everywhere).
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      • Posted by Non_mooching_artist 10 years, 10 months ago
        Wow, that's not good. I'm glad we have that in our constitution. Unfortunately that right gets attacked, and from within. What you are experiencing there is what we fight against up here. The citizens mostly know that an unarmed civilian population is just unchained serfs.
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    • Posted by $ Susanne 10 years, 10 months ago
      And even if time is short, it's better to have *something* than nothing. Remember the 3 basics - Beans, Bullets, Bandaids -
      I know time is short, and it'd be a scramble to get it together now, but... if you can, its good.
      Beans - Food and Sustinence Items - water, purifier, iodine tabs for water, a couple liter water containers (collapsible) - you need 3 liters minimum a day to survive of water. Freeze-dried (camping) food is excellent, but remember you need extra water. If you can find a way to heat/boil water (rocket or backpacker stove & fuel, and something to boil the water in) so much the better.

      Bullets - defensive and protective gear. A knife, some kind of optics, flashlight, and if possible, a small defensive / hunting firearm (minimum size a .380 or 9mm pistol, or small caliber rifle, or both) with sufficient ammo. As part of your defense, think about clothes (defense from weather), Tarpage (same), etc. Also cordage (parachute cord), and ways/knowledge to make a snare or trap. Have I mentioned - A map, compass, and Flashlight (and flashlight batteries)?

      Band-aids - First aid and medical necessities - at LEAST a good first aid kit, a selection of your prescription meds, basic medicines (aspirin, antihistamine, etc.) I also include a pint (400 ml) of min. 70% alcohol - NOT rubbing or isopropyl, but ethyl - not for the booze factor, but for cleaning and sanitation, and you don't want to put Iso Alcohol in your mouth if you punch your tooth thru your lip. Or in an open wound. Oh yeah - Israeli style Combat Compression Bandages and Celox clotting powder.

      Clothes - a good change of clothes, sturdy and durable, and 2x extra socks and underwear. Remember, fall is coming, so it will start to get cooler and damper. Make sure you keep your clothes current and 1 season ahead compatible, erring on the side of warmth. And SHOES - for goodness sakes, have some 100 KM walking or hiking shoes.

      What to put it in? A GOOD backpack... that does NOT look military. Why? You don't want a combatant thinking you're part of their target possibilities - You wear camo, you look military, and could be shot. I like business black, or backpacker khaki or colors... another thing, tho - get it dirty. New looking gear = person has money and stuff to steal. Dirty and old looking = worn, end of their rope, nothing much here to take, easier pickings elsewhere..

      Good luck, hope you won't need to use it, but if you do, here It is. We're praying for your safety and that everything returns to normalacy and prosperity.
      Sus
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  • Posted by 10 years, 10 months ago
    Bout Ocumare del Tuy, the gang has retired... after assaulting the police station though .-. . I think it was a demonstration of power, 3 days on a city, no police, neither army (called national guard: part of the army that is for internal affairs) could stop them. No one was captured... so I think is the gang saying, we own this place and nobody can do a thing.
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  • Posted by Non_mooching_artist 10 years, 10 months ago
    Goodness! Stay low, and as unobtrusive as possible. Is there any way for you to get out of Venezuela, or to less violent areas? Stay safe, sender47. I wish you the best in a clearly terrifying situation. Let us know as often as you are able that you are safe. :-(
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  • Posted by 10 years, 10 months ago
    Will start posting about the situation... should open a new post. will redact an abstract of the Venezuelan situation up to now, and post it. will try to have it by tomorrow :D

    Thanks for your support
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  • Posted by 10 years, 10 months ago
    Thanks XD... tomorrow there are concentrations called by the opposition and anonymous, and as something uncommon (they always do the same), the government called for their followers to march celebrating 15 years of the inauguration of chavez as president.

    Normally people would avoid confrontation, but the last months have been horrible, 56% of inflation, what we can get of foreign currency is 300 USD for e-commerce, and 2500 for travels per year. Of these the price is over 11, 5 (sometimes 12 sometimes 20, you never know how much you will be charged). Going by the Central Bank, the price would be 60 BsF (monetary mass/reserves); in the black market is over 80.

    Many airlines have stopped or reduced their flights here (the government owns more than 3500 million USD to them). If they still flight you have to buy from an foreign account, or pay prices of over 50000BsF (yes 50 thousand, and if you are going near, Spain is over 70000) BTW, the minimum wager is a little less than 3000 per month, although a lot of people like public doctors and teachers is always less. (I as engineer, made 6000 a month),

    The price of what is called "basic family food basket" was over 8000 at beginning of the year BsF by November more that 2 times the minimum wager,
    (And that is only food, no service, transportation, education, and clothing, nothing more included).
    A small room in Caracas is about 3000 BsF per month (If you can find, government controls about not being able to take out of your house someone rented even if they don't pay unless it finds another place to live).

    4 to 12 hours of line to get 2 kilos of milk, cooking oil, coffee, toilette paper which are pretty scarce.

    Better I post a link to a video XD, is in Spanish, but is quite graphical. is a calling for the concentrations of tomorrow, there you can see pretty fast images of what is happening.

    Cannot say tomorrow will be a success, people is very afraid, the gangs here are armed with assault rifles, and are conceited by the government, as they are a way to control people. (The governmental CAVIM is the sole distributor of guns and bullets here). Still things have been getting rapidly worse.

    http://www.youtube.com/watch?v=XtcOILkLO...

    The first images is about robbery, then people protesting for their savings (retire funds, mandatory by law and managed by the government). Then about electricity shortage... water shortage (More tha 2 month without sevice for the people on the video), the wages (there is a medic protesting that she wins 2500BsF, even after studying for more than 6 years). lines for food... the violence rates...

    Oh and here a video about our jails... yes where, criminals, should pay sentence -.-
    (This one in English)

    http://www.youtube.com/watch?v=iRoYZhiRi...

    Yes... that is the inside of a jail

    Wow... I think that the point of the post, rapidly changed XD
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  • Posted by $ winterwind 10 years, 10 months ago
    I'm only now putting my BOB together. Although I deplore your situation, it is serving to light a fire under me.
    Please do all you can to keep you and yours safe.
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  • Posted by khalling 10 years, 10 months ago
    sender-be careful. I hope all of our preppers will come into this post and give some advice. ven has been through this before. the galtcoin inventors posted on it in here. there was lots of skepticism, but they seem to be on the up and up.
    check in please and let us know what's happening.
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  • Posted by JEbrom 10 years, 8 months ago
    I'm curious, what is with the Bitcoin? I don't think I'm going to jump on that band wagon any time soon... Galts Gulch approved or not, I am not feeling very good about it.
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  • Posted by smithw 10 years, 10 months ago
    I know electronic money is gaining popularity but I'm skeptical because access to your money is dependent on electricity and access to internet. Plus, with gov skill at snooping, who knows? Maybe I'm just old fashioned.
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  • Posted by fivedollargold 10 years, 10 months ago
    My boss is from Venezuela, so I've been kept informed of much of the destruction wrought by Chavez and his successor. Tell us more about Galtcoin when you can. Best wishes. $5Au
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    • Posted by 10 years, 10 months ago
      Oh, is an Alt-coin based in what is called scrypt algorithm (bitcoin algorithm is SHA256), there are many altocoins and places where they are traded with bitcoins like Cryptsy.com, their strength depends on how many coins will be in total, and the promotion and usage of it. There is Dogecoin, started like a joke/meme of a shiba dog, but their community started promoting donations with the coin to dog shelters, and then it acquired a lot of value.

      The post was about asking your opinions of bitcoin now that has survived and grow. Gaining approval and refusal (see the link to Forbes in the post) Also the altcoins, and between them the Galtcoin. But I think mentioning what is happening here in Venezuela, made it take a strange, although interesting turn XD.

      So I decided to make a post about what is happening in Venezuela. Tomorrow will be in these concentrations, specifically the one in Chacaito (Caracas); I have a friend near there in any situation. Can’t know if much people will go, the fear to this armed gangs on motorbikes, specially the most organized and with influences and contacts with the actual government called “Colectivos"... Is a fight between hunger, desperation, poverty, violence, and fear.

      Most of my friends are long gone from Venezuela, one is going to Spain in this days. So I really don't know what to expect :/.

      Thanks for your concern :D
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