i think the most important financial dynamic going on in the world today is Bitcoin vs Gold.  yes, there’s a component of Bitcoin vs Fiat but gold has always been the real money of centuries past.  the pure fiat game has only been around since 1971.  that is why i was a goldbug from 2005 to 2011 and why i started the gold threads:  Gold: I Smell a Trap and this one.  while the Keynesian’s and major CB’s would never admit that gold still plays any importance on the world stage, actions speak louder than words.  otherwise, why would India, China, and Russia continue to stock gold?  why would the Fed continue to spend millions on fortified storage facilities to stockpile what little they have left? we know that at some level, they covet it. unfortunately for CB’s, they’ve never been very good at calling markets ala Gordon Brown in 2000 selling off the UK’s gold followed by the others for much of the noughts.   enter gold’s Black Swan, Bitcoin.

i’m also surprised at how short memories are.  we’ve already kicked out 4.5/5 legs of the precious metal story:

1.  Silver:  remember how all the silver bugs like Eric Sprott and Max Keiser promised us that silver would lead the gold to massive new highs?  while gold was supposed to go to $35000, silver would head to $200 or something like that?  simply enough, Bitcoin did a Slingshot Effect-cypherdoc past silver easily in the Spring of 2013.  effortlessly, like a knife thru butter.  and yet goldbugs fail to understand/remember its significance.  what bigger a red flag to wave that Bitcoin is superior to metals?  Bitcoin has already been Silver’s Black Swan. no one in their right mind thinks silver will ever catch Bitcoin at this point.  this is an important clue to the big picture.  this is also why i don’t like Litecoin; we don’t need or want a Bitcoin’s silver.  Litecoin is doing a death spiral right now. imo, the only reason silver became a form of money in the first place was b/c of the high amount of friction in pm’s.  gold has a limited form of divisibility despite what you’ve been told.
2.  Miners:  oh Lordy.  this sector has been wiped out on it’s own merit, however, when compared to the performance of Bitcoin, it’s been a complete disaster.  i also think Bitcoin played a big part in that; look at the for sale of the recent gold mine for Bitcoin.  remember how miscreanity used to argue vociferously that miners were the ultimate leverage play on gold/silver itself?  how’s that turned out?  disastrously.  pay close attention to that excellent analysis as to the environmental and USD costs of pm mining.  that is unsustainable and undesirable.  http://www.coindesk.com/microscope-true-costs-gold-production/
3.  Gold itself:  did you all forget that Satoshi dared to touch the face of gold in price last November?  what did that tell us?  answer: a hell of a lot. i dare say that the next time Satoshi touches gold it will be with his fist thru the face of gold’s price.  we should get another Slingshot Effect-cypherdoc as the world realizes what the implications of Bitcoin will be.  that event should re-establish the logarithmic Bitcoin ramp we’ve seen in years past.  the seed of doubt in the minds of goldbugs has been planted and it will continue to blossom.
4.5.  we’re seeing one after another of former staunch gold bugs convert:  Turk, Schiff, Rogers, and possibly Casey and Rickards.  the momentum is clear.  they will be running to Bitcoin soon.

if true-->shit's on sale

like i said, this sideways action for Bitcoin should serve to clean out a majority of alts; if i had my way, it'd clean out all of them.

Litecoin in a death spiral:

the risk for them doing this would be enormous.

reputational risk would include a market perception of fear of Bitcoin and lack of confidence in USD.  it would be a clear signal that they believe their future is doomed.  just "being in the game" would not facilitate monetary policy manipulation which is the raison d'etre for their existence in the first place.

if ppl found out they were doing this, everyone and their mother would pile in driving the price even higher to stratospheric levels.  i suppose they could find a proxy buyer to accumulate coins but if they accidentally pick a Snowden-type, they'd be screwed.

CB's aren't smart investors as far as i'm concerned.  look at Gordon Brown's faux pas.  during the noughts, CB's in general were selling gold for the most part.  the recent buying by Russia and China, i believe, will go down in history as yet another mistake.

no, i think the CB's, especially the Fed, are "all-in" with fiat.  that's not good; for them.

This sounds interesting. It's hard to believe this is coming out of the UK. This type of inevitable discord is what will drive Bitcoin forward no matter what idiots like Lawsky tries.

http://www.businessinsider.com/britain-regulate-bitcoin-legitimate-currency-2014-8

when he first announced accepting BTC for gold, i said he probably was already convinced and was trying to accumulate.  i still stand by that.

same link.  Tucker mentions Rogers too.

lol:

Tucker:  What?

Schiff:  See, i told you we could process online tx's immediately and for virtually 0 tx cost!

now THAT is really good news. 

altho quite predictable.  Jim Rogers too.

Of course it would but, link please.

Grinding higher. Trying to slip out the door... 

just look at the return on the different timeframes going back to 7d.  then look at the 365d charts:

A quick look at the charts show a steady decline of almost all of them.

Like I said,  the majority of investors even in a promising investment space will lose money. That's because scammers are inevitably attracted. 

stick with it, boys.

the charts of all the alts look horrific.  most investors in cryptocurrencies will lose money.