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1  Alternate cryptocurrencies / Altcoin Discussion / Re: Ripple Giveaway! on: April 26, 2013, 08:19:20 PM
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2  Bitcoin / Bitcoin Discussion / Re: Biggest sell signal if we go under 5.70-5.80 level on: September 09, 2011, 05:46:15 PM
Technically we could easily go under $1.00. It will be very interesting to see how many keep mining as we drop here. The trend is definitely down.

The nominal price of BTC only matters is miner intends to HOLD BTC.

For a miner who mines and sells on a regular basis Price * Difficulty is a better measure of profitability. 

For example a miner generates same amount of revenue (in $) with either:
$100BTC & 1777774.48 difficultly
$1.00BTC & 17777.7448 difficultly
$0.01BTC & 17777.7448 difficultly
$0.001BTC & 177.777448 difficultly


Quote
I will now be mining at a loss but I will keep mining. I'm in this for the long haul and will accept the "investment cost" of electricity. When I was buying silver I was parting with cash and now the metal just sits there for future use. The risk is MUCH higher for the BTC though.

Why?  When you were investing in silver if you could buy it for $4/oz or mine it yourself for $9/oz which would be a better investment.

If your cost to "build" one BTC is $4.00 and you can simply buy BTC on the market for $3.00 why would you overpay?

EVERYONE buys BTC.  Miner just buy it indirectly in the form of electricity and amortized hardware.

LOL! You are so right. Ever since I wrote that I've been thinking about it..... Why would I depreciate my gear when I could take the cash and buy MORE BTC?

Difficulty is going to plummet. I'd say I'll have the miners shut down for maybe a month.
3  Bitcoin / Bitcoin Discussion / Re: Biggest sell signal if we go under 5.70-5.80 level on: September 09, 2011, 01:49:15 PM
I am just trying to offer technical analysis to help people making informed bitcoin trading decisions .
typically , this forum is biased with UP UP UP talks (see Bruce ...)
and it is important to also show some balanced views.
some people could protect their savings if they sold before.

Personally, I do not have any interest in falling bitcoin prices, I would prefer rising bitcoin prices. But it is important to leave emotions aside when investing / trading.


Yes well reality sucks for people when the trend is opposite their expectation.  Wink

Technically we could easily go under $1.00. It will be very interesting to see how many keep mining as we drop here. The trend is definitely down.

I will now be mining at a loss but I will keep mining. I'm in this for the long haul and will accept the "investment cost" of electricity. When I was buying silver I was parting with cash and now the metal just sits there for future use. The risk is MUCH higher for the BTC though.

Your analysis is appreciated.

4  Bitcoin / Pools / Re: [2220 GH/s] Slush's Bitcoin Mining Pool (mining.bitcoin.cz) on: September 08, 2011, 06:43:36 PM
Blimey, I found 2 Blocks today, what are the chances!

Low  Grin
5  Bitcoin / Bitcoin Discussion / Re: Bitcoin in France: first legal decision directly related to Bitcoin? on: September 07, 2011, 06:17:04 PM
following.

These are the types of instances we have all been waiting for. It doesn't matter if Mt. Gox walks away from France; it'll happen somewhere else. Get the experience while you can I say.
6  Alternate cryptocurrencies / Altcoin Discussion / Re: Altcoin - the alternative cryptocurrency? on: September 02, 2011, 04:33:47 PM
"-> I personally think that inflation > deflation."

You must either be a neocon or a democrat.  Inflation is never good if you use the coins and don't have any loans outstanding.  If your a miner inflation is good because you get to steal off the workers and businesses.  If you are a government inflation can be good because it is a hidden tax.

On the other hand deflation is never good for anyone because saving is heavily encouraged so the economy stagnates.

Yes, saving is terrible for the economy. Damn the individual! Long live the economy! (Whatever that is). (sarcasm off).

Economies expand and contract. I.e., they inflate and deflate just as we inhale and exhale. Some may like it if the sun never set but would not the crops all burn up?

No deflation in an economy is simply unnatural and should not be avoided. Individuals need to learn this and ignore politicians and bankstas who say they can mediate this process.  But of course that would require people to grow up.
7  Bitcoin / Pools / Re: [2220 GH/s] Slush's Bitcoin Mining Pool (mining.bitcoin.cz) on: August 30, 2011, 08:26:05 PM
Hey I was hoping someone might be able to help me out, every time I go to the graphs page all I get is the headings of the graphs.  The places where the graphs should be are just empty white space.

Anyone know what I'm missing? 


Obviously it's not a huge deal, but I wouldn't mind being able to check the graphs once in a while.

Everyone knows you have to view them under moon light!!
8  Bitcoin / Pools / Re: [2220 GH/s] Slush's Bitcoin Mining Pool (mining.bitcoin.cz) on: August 24, 2011, 06:58:47 PM
Wowwzzeerrss!

Current round duration:   6:06:14

I think we can get to 7 hours on this one!! Come on!
9  Bitcoin / Mining / Re: FPGA boards are here on: August 23, 2011, 01:26:00 PM


You can the  also consider that the rate of inflation in fiat money is only getting faster and that few lousy grand you dropped on some FPGAs is nothing will be quickly forgotten and you will break even before you know it. 

Break even? This isn't guaranteed. We're assuming BTC keeps increasing against the USD and if it doesn't outperform gold and silver you have just made a terrible investment.
10  Alternate cryptocurrencies / Altcoin Discussion / Re: Altcoin - the alternative cryptocurrency? on: August 16, 2011, 04:08:44 PM
There is no point in a constant and 100% predictable inflation. Every hour (or even second) the price of goods and services will have to be changed accordingly! Is that what you want? A madhouse?

There will always be inflation or deflation with bitcoins too. And the inflation being slightly predictable helps a lot.

this will encourage people to spend their coins rather than holding them back
Complete nonsense. This will encourage people to spend their coins for real money like gold and silver. Because real money doesn't inflate!

That's what people are doing with fiat currencies too. I don't oppose people who are spending their coins for gold and silver, but those aren't that widely accepted, be it b&m store or an online shop.
[/quote]

So if people are doing the same thing with fiat currency why would you create the digital representation of the same ill begotten problem that is now the scourge of humanity?

Purge your mind of this madness. I don't agree with your methods and am suspicious of your motivations.

What is your main concern now? The early adopters holding so much BTC?
11  Alternate cryptocurrencies / Altcoin Discussion / Re: Altcoin - the alternative cryptocurrency? on: August 16, 2011, 04:05:56 PM
The currently will have constant inflation
There is no point in a constant and 100% predictable inflation. Every hour (or even second) the price of goods and services will have to be changed accordingly! Is that what you want? A madhouse?

this will encourage people to spend their coins rather than holding them back
Complete nonsense. This will encourage people to spend their coins for real money like gold and silver. Because real money doesn't inflate!

Agree, Gresham's law will take effect.
12  Alternate cryptocurrencies / Altcoin Discussion / Re: Altcoin - the alternative cryptocurrency? on: August 16, 2011, 02:47:52 PM
I'm not sure about this inflation thing.

The government will love it. OP is probably a shill. Selling inflation. Socialist.
13  Economy / Speculation / Re: Stock market crash - 5 % overall on: August 12, 2011, 04:05:00 PM
My facts are chart pattern that show that Gold is in a major long term uptrend.

But as in all trends, there are corrections. before Gold will skyrocket, we will see a correction from current or 2000 $ into the broad 600-1400 area.

Further supporting facts is the contrarian indicator sentiment. We see >95% bullish sentiment on gold which indicates that too many are already invested and the short term trend will change soon, as it happened so many times before


Charts? What about fundamentals?

What about the average guy on the street who doesn't own silver or gold?

Of course there will be corrections. A monkey could predict that. What's happening today is a paradigm shift of EPIC proportions. Chartists are getting killed out there.
You are generalizing without showing any evidence or data. I am chartist and have foreseen the recent stock market top (i.e. shorted the DAX at 7300 points and sold the shorts at 5518), solely based on charts, and I know more chartists who have foreseen that than fundamentalists.

$600-$1400? Leaving a little room for error there eh?
I'll wager you some BTC right here and now that gold does not go below $1,000. Ever. At least not in our life time.
As said in the other thread, I am happy to wager. And, the broad range is just a simplification for this thread. I  have clear short, mid and longterm price targets that I do not reveal now.

Whatever. Books are written on fundamentals. And what good is charting something that you cannot reveal and then say you have predictive powers? It's one way to be right all the time I guess...
14  Economy / Speculation / Re: Stock market crash - 5 % overall on: August 10, 2011, 06:16:11 PM
My facts are chart pattern that show that Gold is in a major long term uptrend.

But as in all trends, there are corrections. before Gold will skyrocket, we will see a correction from current or 2000 $ into the broad 600-1400 area.

Further supporting facts is the contrarian indicator sentiment. We see >95% bullish sentiment on gold which indicates that too many are already invested and the short term trend will change soon, as it happened so many times before


Charts? What about fundamentals?

What about the average guy on the street who doesn't own silver or gold?

Of course there will be corrections. A monkey could predict that. What's happening today is a paradigm shift of EPIC proportions. Chartists are getting killed out there.

$600-$1400? Leaving a little room for error there eh?

I'll wager you some BTC right here and now that gold does not go below $1,000. Ever. At least not in our life time.
15  Economy / Speculation / Re: Stock market crash - 5 % overall on: August 10, 2011, 04:19:41 PM
Dow 4000 here we come.
agree with you with a target extension: take away another 0.
400 we come by 2014-2016



Dude, if you think the Dow is heading to 400, you're on the wrong forum.  We're inflation folk around these parts.

I am saying the inflationists will be wrong. First we see continued massive deflation (just look at the DJI/Gold chart then you will realize that we have deflation, not inflation.

Right before Argentina went into hyper-inflation they experienced a brief bout of deflation. Deflation is what gives the central bank the excuse to print more money.

DJI/Gold chart shows inflation not deflation. You're misinterpreting it. Gold is simply outpacing the Dow's gains.

Anyone who thinks deflation rules the day and currencies are gaining strength is completely ignorant of the economic model (keynesianism) we are practicing today. BY DESIGN  it is inflationary. If it is not inflationary the model is broke and they'll do whatever they have to do to get it back on track (print).

This will carry on until the currency dies outright. Searching for those happy feelings of Dow gains and currency gains does not change the facts of reality. It is typical normalcy bias rationalization.

"Deal with reality or reality will deal with you".

Anyone who thinks currencies are gaining (especially against gold) should take a look at these charts. Your opinions don't change the facts....

http://www.galmarley.com/Chart_pages/currency_charts.htm

You do not need to convince me. In fact, you can't.

We are in a massive deflation. Everything loses value against gold = gold is the only one holding value while all other prices (currencies as you shows very well, goods, other commodities lose in value).

And soon, possible even with the today's high, gold will also decline.


So you know more than Jim Sinclair, Schiff, Marc Faber, Jim Rogers, John Exter (former Fed Chairman), etc?

What info and facts do you have to back this claim up? The deflation you see, I will admit there is deflation out there, is in the price of goods that are leveraged with credit.

The inflation that is out there is in the credit derivatives market. The deflation that we will see will be the decimation of that market and gold will be inflated to levels you cannot imagine.

I'm not trying to convince anyone of anything. I'm always looking for different angles to understand what's happening.

I think where most people get lost is they don't go up high enough on the financial instrument food chain. People don't understand just how much debt is out there that will have to collapse into something.

The derivatives market is a $1Quadrillion + market.
16  Economy / Speculation / Re: Stock market crash - 5 % overall on: August 09, 2011, 07:22:40 PM
The stock market is a rigged game. Every week a portion of millions of paychecks goes into the market. It has no choice but to go up. Yes I know they go into other instruments but there is a constant flow into the market. The big money players wait for it to go up a a few trillion and then pull out in unison . When it bottoms, they buy back in and wait again to rinse and repeat. They will siphon about 11% of the market cap then it will go back up.They really want SSI in the game so they can double what they are doing now. The market hasn't traded on fundamentals in nearly 20 years. It's a ponzi version of musical chairs except they are already in a chair  next to the record player.

All true. When/IF the majority figure this out and stop contributing to their 401's about the time the baby boomers start pulling out you will see the greatest stock market of all time.

Deflation.

And then the great tidal wave of inflation by the Bernank. And the death of the currency.
17  Bitcoin / Bitcoin Discussion / Re: How many miners are calling it quits? on: August 08, 2011, 02:50:45 PM
I'm not quitting yet. But below $5.55/BTC, I'll have to idle my miners, and buy on the market instead if I want to continue increasing my holdings.

I'll have to find my number as well. It would be goofy to run at a loss and not just buy the BTC outright. I'll keep my 5830's running though for posterity's sake.
18  Economy / Speculation / Re: Stock market crash - 5 % overall on: August 08, 2011, 02:20:39 PM
Dow 4000 here we come.
agree with you with a target extension: take away another 0.
400 we come by 2014-2016



Dude, if you think the Dow is heading to 400, you're on the wrong forum.  We're inflation folk around these parts.

I am saying the inflationists will be wrong. First we see continued massive deflation (just look at the DJI/Gold chart then you will realize that we have deflation, not inflation.

Right before Argentina went into hyper-inflation they experienced a brief bout of deflation. Deflation is what gives the central bank the excuse to print more money.

DJI/Gold chart shows inflation not deflation. You're misinterpreting it. Gold is simply outpacing the Dow's gains.

Anyone who thinks deflation rules the day and currencies are gaining strength is completely ignorant of the economic model (keynesianism) we are practicing today. BY DESIGN  it is inflationary. If it is not inflationary the model is broke and they'll do whatever they have to do to get it back on track (print).

This will carry on until the currency dies outright. Searching for those happy feelings of Dow gains and currency gains does not change the facts of reality. It is typical normalcy bias rationalization.

"Deal with reality or reality will deal with you".

Anyone who thinks currencies are gaining (especially against gold) should take a look at these charts. Your opinions don't change the facts....

http://www.galmarley.com/Chart_pages/currency_charts.htm
19  Economy / Speculation / Re: Stock market crash - 5 % overall on: August 05, 2011, 06:54:50 PM
Dow 4000 here we come.
agree with you with a target extension: take away another 0.
400 we come by 2014-2016



Not a chance. Try Dow 4,000,000.

Gold, $10,000,000,000,000
Silver, $xtrillion
BTC, ?
20  Economy / Speculation / Re: Stock market crash - 5 % overall on: August 05, 2011, 04:11:39 PM
looks like to me they're trying to take down gold and silver...

It's more of a margin liquidation. If they really want to smash the crap out of silver though now is the time to raise the COMEX marging requirements.

Of course all they'd do is force a lot more physical metal off the market.
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