Nope, Gox Dollars trade at a discount to Physical Dollars because there is significant difficulty in converting Gox Dollars to Real Dollars.
Hmmm. USD are up. Perhaps there is a significant difficulty in converting US Dollars into Real Dollars. Hrm. I'm not sure quite what you mean, I was just describing the basic point that when two ostensibly identical items (in this case dollars) are traded in two different locations, and they cannot easily be moved from one location to the other (eg moving dollars from MtGox to my bank account), it will result in a price differential where the item in the less desirable location (MtGox) is worth less then the item in the more desirable location (my bank). Similarly, if gold on the Comex cannot be converted into Physical gold easily, and a demand ever arises to convert the gold from the one to the other directly in any quantity, it will cause gold in the less valued location (Comex) to sell at a discount to gold in the more valued location (a physical coin in my safety deposit box). |
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Mikcik, I have a question on gold manipulation, hope it is OK to ask in your thread, as this is where the eyes seem to be.
We all saw what happened when MtGox stopped paying out USD, or at least severely rationed USD. The result was the price of MtGox bitcoins (paper bitcoins if you will) rose substantially. If you do business with actual bitcoins, the price is now currently ~17.5% less.
As related to gold, the expectation seems to be that if the Comex runs dry (or stops paying out in real gold), the price of physical will rally to substantial levels above paper gold. But the MtGox episode explains the opposite - that it will be paper gold (comex futures) that explodes higher as it tries to lure physical gold into its coffers.
Conclusion: Physical gold will therefore trade at a significant *discount* to comex futures if there is a run at the comex. Yes?
Nope, Gox Dollars trade at a discount to Physical Dollars because there is significant difficulty in converting Gox Dollars to Real Dollars. Similarly, if there were difficulty in converting Comex Gold into Physical Gold, then the price of Physical Gold would shoot up in relation to the Comex price. |
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Hi all,
Last Wednesday I submitted a withdrawal going from my Bitstamp account to a Chase account in the US, and it shows as completed on Bitstamp's end, but hasn't made it to my Chase account yet. Does anyone have a similar experience with Bitstamp withdrawals, or have any real estimates for how long the whole process tends to take?
Thanks!
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Thank you all for your interest. At this time I am particularly interested in dual lands, so if you have em and want to sell, ask me for a quote!
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Hello everyone, I am selling this Ancestral Recall, from the Beta edition of Magic, the Gathering for only 1.4 BTC shipped in the USA, a little bit more to ship internationally. This is one of the renowned "Power Nine" cards, is in Excellent condition, and at retail would go for over $1,600. As proven here: http://magic.tcgplayer.com/db/magic_single_card.asp?cn=Ancestral%20Recall&sn=Beta%20Edition   The price of this card has doubled in the last 5 years, and the demand for it just keeps going up. Send me a PM if you are interested. Thanks! |
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So and what do you think about the physical to paper gold ratio about 69...?
Isnt it due to the futures trading...? Because if comex sells gold futures its clear and understandable that it simply wont have all the physical gold in its vaults...?? Yep, that would be about it. Most actual physical trade is out of London. Much of what you read about gold price manipulation is generated from people with ideological reasons to say so and a penchant for fantasy. That's not to say everything is false, but a nugget of truth is embellished and morphed into a far bigger "theory". At the end of the day, it would be very hard to manipulate gold prices more than a few %, there's too many interested parties and too much information freely available. Example, registered stock, owners etc publicly available. Its not the price being manipulated, the information is. Anyone claiming $5k, $15k has no basis for that analysis, they are just trying to pump the price because they hold and wish the price to go that high. I could make a perfectly sound case for current gold being grossly overvalued (in brief, if its a hedge against inflation, price has far outpaced inflation and priced in another decade or more) Before its used as a counter example, LIBOR rates where manipulated fractions of a % for gains or cut loses on daily movements, not wholesale shifts of the market over medium or long term. Treasury rates, Sup-Prime Mortgage rates, USD/CNY exchange rate, Gold price until 1971, Greek bond interest rate until 2010,... |
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Given that the central banks of the world pretty openly collaborated to manipulate the price of Gold back in the 60's, one can only assume that if it suited them they would be manipulating the price now. http://en.wikipedia.org/wiki/London_Gold_Pool |
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I'm not saying it's not good to hold, I think its great to hold, more than 20% of your holdings, probably not. I don't know enough about artwork or magic card enough to comment on.  It may sound funny, but high-end magic cards have had a higher rate of return then the dow jones for pretty much every year since they Magic was created over 20 years ago, including this year. In a way, they've sort of been like the Bitcoin of the 90's. |
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I might be able to help you, PM sent!
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It used to be that the way one diversified their wealth was to break it into three main parts:
1. Cash
2. Gold
3. Artwork
Along those lines, I've taken to the 21st century version:
1. Bitcoin (of course.)
2. Gold (still strong!)
3. Magic Cards (games are this generation's art.)
That's just me though. How are you all diversifying YOUR holdings?
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Actually, it is the hallmark of distressed companies to offer great terms, fee reductions, etc in an effort to draw in new capital, and keep current customers from leaving as best they can. Sad to say, the last time I saw this sort of thing was in the banking crisis of 2008.
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Maybe I am naive on the subject, but I thought that it was common knowledge that withdrawing from Gox is a terrible nightmare that routinely takes several months, if not longer. Traditionally, this is the sort of behavior that occurs in failing enterprises that cannibalize their deposits to pay for ongoing expenses until there is no money left.
There is at least one decent exchange (cough Bitstamp cough) and it's not like a Gox collapse means the end of Bitcoin, but still, when I look at the upcoming disasters that are at least somewhat foreseeable, Gox seems like the biggest one out there.
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Hi all,
Given the increasingly worrying news coming out of MTGox, it is time to start worrying about what will happen to the exchange rate, market confidence, and the Bitcoin image generally if Gox does implode, and take everyone's deposits with them.
My first worry is that to the outside world, Gox is the only exchange that matters. Every publication uses the Gox price when they are talking about Bitcoin, and it's the only exchange that I've really seen talked about in the media. If nothing else, its collapse will be media worthy.
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I'd be interested in buying a few cards, PM sent.
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i dont know anything about magic but ill buy them so i can play with my friend
I've sent you a PM so we can talk about this further! |
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I would possibly be interested in these. Do you have scans or hi-res pictures of the cards?
Nope, not yet. I put this thread up because I wanted to see if the community had an interest in this sort of thing before I went to the process of scans etc. |
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I think I misunderstood, your saying you have 4 of each of the dual lands?
yup! |
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Im typically interested in magic cards what sets were they again?
Revised, aka 3rd Edition. |
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I doubt the first two reversals because they were so quick (literally an hour or so,) but either way the whole thing is sad. The bad news is it proves that the world of credit and trust is dying, the good news is that it proves the need for an irreversible cash equivalent online-such as Bitcoin!
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Hi all,
I was wondering if there is any interest out there for buying a complete set of 4x Revised Dual Land cards in Magic, The Gathering.
These are pretty much the "$20 bills" of Magic. They are Rare enough to carry a value of between $50 and $120 a card (or so), but are commonly enough used in decks that there is a constant demand for them, making selling them a snap, as compared to the rarer cards. Amazingly, Magic Cards have been steadily going up in value for the last 20 years (since people like myself first played the game) and as everyone who has played with them are now adults and richer, their value will probably continue to go up for a while.
So, all that said, is there anyone out there interested in a 4x Revised Dual Land set? If so, please contact me, and we can talk about it some more!
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