I found four things of interest to me in that Armstrong post: 1) He sure has a lot of fawning fans... 2) He has a valid point on how .gov claims randomness, other than politicians who promise they can affect things. 3) Similarly, they toss him in jail for manipulating the world economy (that they earlier said was random). 4) He specifically mentioned that his system learns when detecting new patterns. I presume that each year that he gathers more data he (and his computer) will learn more. A VERY interesting project. |
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This thread is meant to be a short-term place to watch and to comment on prices of gold and Bitcoin.
My understanding is that Bitcoin's price took a +/- $10 hit this morning on the CW "outing" himself news.
Gold is up some $3 - $4.
Now is as good a time as any to see how these two wealth storage alternatives do in the coming days or weeks.
Gold: $1297
BTC: $443 (at ounce.me)
Let the games begin...
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I believe they had a change of ownership which is when the gripes started. Before that they were golden. Facebook ratings and online reviews can be bought. I'd be trusting the former ratings more. https://bitcointalk.org/index.php?topic=1102211.0Do you have any recommendations on places to buy silver using BTC? I have bought gold a few times from providentmetals.com with BTC. All purchases were successful, all orders arrived in about a week after payment. I have no complaints. Their selection is quite good. Their parent company apparently refines gold & silver as well as making their own silver coins. |
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There may be more than one kind of manipulation happening. The overnight "raids" at 3:00 AM are often talked about in the goldbug community, but I am not knowledgeable enough to really comment on them.
The more subtle kinds (to keep gold out of the hands of citizens) ma be much harder to detect. Light, or even heavy, propaganda might play a role -- the MainStream Media poo-poos gold holders for example.
But what seals the deal for me re value of gold is its 5000 years as mankind's choice for Store of Value.
"They" are not having much success suppressing that.
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This will be fascinating to see if the price of BTC changes much in the coming days should Wright turn out to be real (or not).
At this point the technology seems to be near-bulletproof, so that should mean that the programming side of Bitcoin remains intact. This may be a classic case of "BTFD".
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Things do seem to be heating a bit. Tomorrow Puerto Rico will default on some loans. That is an issue than the MainStream Media is not covering very well.
Douche [sic] Bank is in trouble, now under being investigated by the UK regulators (LOL), they are up to their eyes in problems, including a huge derivatives holding. German Justice Haas was just run out of a meeting by angry Germans unhappy w/ the Muslim Invasion.
Maybe we're closer to big problems, or maybe not. I don't know. But, there are plenty of scary events happening...
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What's exactly happening here, guys ?
Please explain as I do not understand a word?!!
Yes, I agree with SLRman! Has anyone recently used this service? Does it work form the USA? Reliability and clarity are important for those who wish a debit card (like I am). |
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Countries will be happy to devalue their currencies, so that their exports become more compeititive. All this competitive quantitative easing and negative interest rates indicate that.
Devaluation of currency can help in the short term, but in the long term the net effect will be negative. A clear example to this is China. They have tried to benefit by devaluing the Renminbi. It benefited them in the short term, by increasing the volume of exports. But now, they have to deal with the rise in inflation, and the stock market crash. That is my opinion as well, bryant.coleman. Devaluing helps exports, short-term of course, but yields less consumption within the export country and distorts their investments. China is a great example. They have inflation. China will have a hard landing, probably soon. Of course, China's future ("later") may be bright, depending on the policies they adopt later on. Japan used to devalue all the time as well. They are now stuck in a depression which while somewhat mild, has been going on arguably over 25 years. As a general rule, the more a country monkeys with the free market, the worse the results. |
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In the end, it is almost irrelevent differentiating between an outcome of deflationary collapse and hyperinflation. All that really matters is the cogs stop turning. You will have to flee to another country that uses the closest thing to "honest money" possible or risk sitting around in a perpetual, unproductive ghetto for a decade or so.
The inflation / deflation "recipe" the Elite are using is more advanced than single-dimensional classical analysis. They are inflating the debt-markets (otherwise they go bust by non-refinancing / non-rollover of debt) and deflating the small guy. Large debt markets get refunded and the small guy gets a liquidity crunch or a problematic daily costs / daily income ratio (if he doesn't own any loans). Thus the small guy is like "what inflation? The dollar (or X currency) is becoming scarcer by the day - I'd do anything for (...fewer) dollars than yesterday because my bills are now bigger and the pressure is mounting". Deflating the small guy leads him to the pawn shop to sell his jewelry, leads him to ebay, to sell his stuff, leads him to the real estate agent to sell his property, etc etc. Why? Because he needs to find cash - which are becoming "scarcer", not because the government isn't issuing a lot of currency, but because the banks are slowly drying up the avg person liquidity and the costs of life are rising. It is essential for their plan to have the small guy beaten by deflation while they are inflating the debt markets by the trillions. If the small guy had "helicopter money" he would be buying precious metals, bitcoins etc. Even if 95% of the people just went on walmart and spent their helicopter money, the 5% that would choose to stack some gold, silver, bitcoins etc, would be *extremely* dangerous in destabilizing their price suppression schemes on alternative currencies. All of the above applies for western societies mainly, where people's purchasing power is immense (by global standards) and their currencies are considered "solid" - without much inflationary effect being visible (that's an illusion btw). Developing countries with inflation are a lesser threat to the elite because they also have the issue of capital controls, in the sense that the population of a developing country with high inflation, rarely has unlimited access to the forex market, or the gold market. If, say, a country with high inflation allowed their citizens to buy dollars or gold in an unlimited fashion, they would simply run out of foreign reserves to buy essentials like food, oil etc - which are traded with USD in the global commodity markets. No USD reserves = no commerce / no imports = problems. So, for reasons of "general wellbeing" it will be generally disallowed for citizens to (massively) dump their currency in favor of foreign currencies or gold. The developing countries are the "useful idiots" of the whole system as the developed countries point to them to "prove" that they have no inflation. If, say, Venezuela runs at 50%, then USA can pretend to run 0% - because no-one is challenging them in terms of running an honest currency. The western nations are also inflating in sync, so that it is imperceptible what they are doing. Even countries which do not have the need to inflate their money supply, did so. Switzerland for example. They were getting all those inflows from other countries and then they "decided" to "peg" their currency to the euro in specific ratios. In other words, issuing as many new swiss francs as were needed in order to ...buy all the inflating euros, dollars etc. The hand of the Elite is quite visible in cases like this because such moves don't make any economic sense in the context of said nation (Switzerland is not China that would be hampered by rising currency rates - in fact it would boost the perception of solidness and by extension their banking sector which is their ...core business). These moves only make sense under the macroscopic view of the global economy and in-sync / co-ordinated attempt to inflate all western nations simultaneously, in order to make devaluation imperceptible. Now, regarding the end game. There is no end game unless they decide so. What they are primarily interested in is to make a financial reset that allows them to use a similar economic system as this one, without the economic system taking the blame for the "collapse". They want to attribute the fall to outside causes. Wars, disease, terrorism, "irresponsible corporations", natural disasters - whatever they can. They do not want to make it apparent that the debt-based system was a scam and doomed from the start. They will perpetuate this for as long as it serves their purpose and for as long as they haven't found the right excuse to proceed to a reset. This is excellent. I will be copying (quoting) this two threads in the Economics forum. Indeed, TPTB. AlexGR's piece was full of interesting little nuggets to ponder. Thanks for bringing this to our attention. Yes, upon a moment's reflection, AlexGR makes an interesting point that I have not seen explained like that: The Elite will manage a "collapse" the best they can, but will NOT change the debt-based system we now have (to the best of their ability). Clap, clap, clap! |
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Some of the brightest people on the planet are computer scientists or programmers. (I am not.)
At some point a team of these very bright people may come up with a way to stay hidden (or beyond the touch of the LAW), set up an exchange with good service and not rip-off people. I do not know how that will be done, but my guess is that it will.
An example (though not attracting as much attention as an exchange would) is bitmixer. They have been a reputable service for years yet they keep on serving their customers excellently.
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Ivandjiiski was fairly well-known to people who follow Zero Hedge, and his tale had been told years ago in a lawsuit. All today ZH has had their rebuttal to Bloomberg's piece as their marque article.
Whatever their defects as a website (conspiratorial, Bearish, etc.) they have broken news items before.
People deeply interested in finance should read ZH just as a balance to the TBTF bank and .gov propaganda. Keep the salt handy though, you will need a pinch or two at times.
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Circle has to make its money somehow. About 1% or a hair more is what I have paid vs. "spot".
Currently Circle is the cheapest way for me to buy BTC, albeit in limited quantities. My only other alternatives are a 9% or 14% BTC ATM, the hassle of trying to set up a meeting via localbitcoins, or risky CA$H for BTC by mail order.
They do limit you to $300 per week, but It looks like later on they might raise the weekly limit.
But, what I would really like is a way to buy BTC without all the bother of verification (etc.).
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CoinCube and amigos here
C. S. Lewis is a great writer who I have gotten a lot from. He had a lot of insights into very important subjects, and is worth reading.
Although I had not seen your quotation above, CC, it just shows he was a top-drawer thinker on many things.
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Gold and Bitcoin both did very well this weekend. Gold was up some 4%, which is not a bad gain at all for a week.
Bitcoin was up about 1%.
Both are good holdings.
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BOTH BTC and gold have done very well over the past few days.
I read that the GOLD MINERS are up 100% (average) so far in 2016. As a speculation, that has been at least as good as Bitcoin in 2016.*
I would suggest (and already do) HODL both. Diversification is a good thing as no one can predict the future.
* That outperformance will likely not last. Gold miners != gold.
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nvK, thanks for opening a thread on Opendime. I have been following occasional news on it for about a month or so.
I look forward to user reviews.
What I THINK I like about it is its minimalist design and one task use. That will keep costs down and make it less vulnerable to security problems (those more knowledgeable about security, PLEASE comment!).
The opendime looks like it will fill a nice little niche: buy BTC once, pass the device around as payment,and anytime the owner wishes to be paid there it is.
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Great, very useful, thanks for putting up the link. I will consider ordering a "three-pack" and see for myself how well the the device works. I still welcome opinions or reviews. I like the idea of a very minimalist design and use. |
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USA here. I have used Circle now for almost a week, funding my account with a debit card. The service has worked just fine, I convert my dollars to BTC for something like 1.5% (much lower fee than a BTC ATM). My limit is $300 per week, but it looks like that can be raised in the future after using them awhile and supplying further ID / verification.
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A little over a week ago I wanted to set up one or the other, so whichever was the EASIER would get my business.
Circle won. They were easier to get going, I still have not heard back from Coinbase how to get my account going. Ease of use matters. They both wanted some verification or other, but Circle won (for me).
My limit is $300 / week. If I ever want to raise that, it looks like they would want more steps re verification and a "history" with them.
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BobK71
You? Oh, I thought you were talking about our .gov and the Federal Reserve...
Your man on the Island would be lucky that he was not hanged from a coconut tree.
With the relative rage we see in the USA (and, of interest now too, in Europe), the Western World equivalent may be Banksters swinging from lampposts...
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