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Gold collapsing. Bitcoin stable.
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I feel the pain for Au Ag bugs. It has been brutal.
wait, weren't you one of my trolls from 2011? edit: iirc, you made a comment in the Gold: I smell a trap thread right at the top of the gold price 9/2011. can't remember exactly what it was but it stuck with me... i knew it. here it is: https://bitcointalk.org/index.php?topic=35956.msg500119#msg500119 That chart looks uber bullish to me.. candle stick analysis. I think gold is in for a crazy bull ride like never before... but when is the question. Maybe bitcoin will pull it up one day as both acting as safe havens. Uh, you do realize it's a zoom into the top in Sept 2011? Gold promptly collapse $700 from here. |
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I feel the pain for Au Ag bugs. It has been brutal.
wait, weren't you one of my trolls from 2011? edit: iirc, you made a comment in the Gold: I smell a trap thread right at the top of the gold price 9/2011. can't remember exactly what it was but it stuck with me... i knew it. here it is: https://bitcointalk.org/index.php?topic=35956.msg500119#msg500119 |
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I feel the pain for Au Ag bugs. It has been brutal.
wait, weren't you one of my trolls from 2011? edit: iirc, you made a comment in the Gold: I smell a trap thread right at the top of the gold price 9/2011. can't remember exactly what it was but it stuck with me... |
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the USD is about to blast thru resistance @84.70. if it does, it's clear sailing to 88.708 --> bye bye gold and silver:  |
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gold futures in trouble already; down -6.10  |
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The other question is who are they and where did they get all these coins that they don't mind dumping at a "discount".
With the current crop of exchanges, you've always got to wonder if the sellers actually have the coins they are selling. ppl are still leaving coins on exchanges?  actually, it would be great if the Fed had a proxy trader who had his btc acct stolen by a rogue exchange in Russia or something. |
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you gotta wonder about the BOE's interest in Bitcoin given that Gordon Brown sold all their gold back in 2000. |
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here's the BOE analysis that's already been put up earlier: http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q3digitalcurrenciesbitcoin1.pdfthe only reason i repeat it here is b/c of the last footnote in the Annex of Technical issues where the author mentions the Nash Equilibrium for mining. he must have picked that up from me in this thread as i was the first to identify that concept as it applies to mining afaik. he, and the BOE, are here. it looks to me that mining would be best described as being in a Pure Strategy Nash Equilibrium - cypherdoc
Highlights are mine:" A pure strategy Nash equilibrium is a profile of strategies such that each player’s (miner's) strategy is a best response ((results in the highest available payoff (block reward)) against the equilibrium strategies of the other players (miners).
A pure strategy Nash equilibrium only requires that the action taken by each agent (miner) be best against the actual equilibrium actions taken by the other players (miners), and not necessarily against all possible actions of the other players (miners). In other words, it's expected for some miners to be malicious.
A Nash equilibrium has the nice property that it is stable: if each player expects 'a' to be the profile of actions played, then no player (miner) has any incentive to change his or her action (no incentive to start cheating). In other words, no player (miner) regrets having played the action that he or she played in a Nash equilibrium." http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1968579 |
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stop lying to all the people to make your own profit
bitcoin is dying off and you know it
get out before its too late! big crash is coming
there is no uptrend or correction
he doesn't have to lie. he put up a chart with a trendline. draw your own conclusions. |
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gold breaking support:  |
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he kept looking at Trish's legs.
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there is no reason you should be selling your Bitcoin.
I fixed that for you  so true. but some ppl just need to hang their hat on something. |
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depends on your investment philosophy.
i'm a value investor, so i buy dips even tho i might suffer for a while if my timings bad and it keeps going down. others can't handle that, so revert to momentum trading where they require positive feedback first before they buy.
there are problems with both approaches but after 9.5 mo of down price action, you know where i stand.
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I still don't think we are there yet, maybe another couple of years; there's still no incentives for the average joe to buy bitcoin and use it as a currency over just using credit card.
unless the price starts rising again. |
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They mentioned banks issuing currency backed by digital assets, such as bitcoin, being something that could happen in the future. I predict that within 3 years, 5 years max, that banks will start buying up bitcoin.
that's already failed with Mintchip. doesn't stop other fool CB's like Ecuador from repeating the same mistake. |
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let me emphasize this point once again.
as long as gold and silver are falling, there is no reason you should be selling your Bitcoin.
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Thought this might be interesting to you, OP. Maybe you saw it already... http://www.extremetech.com/computing/179421-analyzing-bitcoin-why-btc-is-so-valuable-whether-it-will-keep-its-value-in-the-futureCorrelation analysis of price/difficulty. Looks quite rigorous to me, but didn't really read it with full attention so far. Also wondering a bit if the extremetech article is the only way they presented their results, or if they published this academically... couldn't find anything. Reminds me a bit of gbianchi's model, who's modeling price/"network size" (where network size is estimated by no. of blockchain addresses that are/were in active use. Would be interesting to have the two look at each others models, imo. EDIT: Peter R. had a similar model around the Metcalfe assumption, just using a different estimator for network size. Might be interesting to him as well, in case he's reading. interesting. they actually claimed price doesn't correlate with tx volume as Peter argues. "With few exceptions, the long-term hash rate drives upwards — as does the value of the currency". i've argued this all along. |
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