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1341
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Economy / Speculation / no need to panic
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on: June 07, 2014, 03:08:42 AM
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The fight is on with low-medium volume!!!  Ha! Just wait until Wally the Wall Guy buys his own wall(s) out! Then we shall see some proper volume. Especially when all the noobs see a PANIC BREAKOUT!!!  we are still comfortably within the channel. continue to sell the spikes and buy the dips. until we break this somewhat random formation of lines I chose, that's what I'm doing. |
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1342
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 06, 2014, 05:27:36 AM
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Some of the posts like yours cause me to project that it is fairly probable that BTC prices will remain in the current $620 to $680 channel for a few weeks.... and the channel will narrow... then it seems more likely that the break in BTC prices will be upwards, rather than downwards.
you gotta make up your own mind about down or up, I just think that when it happens, it will be violent. ...and yeah, probably up  |
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1345
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 06, 2014, 02:08:41 AM
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has anyone seen the Atlas Shrugged, part 2 movie yet? highly recommended. it's like watching a glimpse of the future while seeing it happen all around you in real time,
(part 1 as well, of course, and yes, I think part 1 was better but part 2 seemed a little more "in your face" and Rearden's trial was epic)
Good news is you will only have to wait a couple months for part 3. Should be in theaters September. bullish. |
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1346
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 06, 2014, 01:59:41 AM
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ECB -> announced negative rates and market expecting QE to be announced in 20ish minutes. Get out of them Euro and into them BTC.
+1, did we just witness for one of the first time a macro-related move  Yeah ! a major newssite called it the end of capitalism as we know it. That's a load of sensationalistic journalism, there has been experiments with negative rates various places, though not on such a scale of course. i donīt think this is sensationalistic journalism. it is the 5th year of the 2008 crisis and they have no other tool than this very last one. if it fails (and i think it will) what will they do next ? Wealth Taxes and Savings Sequestration side note: has anyone seen the Atlas Shrugged, part 2 movie yet? highly recommended. it's like watching a glimpse of the future while seeing it happen all around you in real time, (part 1 as well, of course, and yes, I think part 1 was better, but part 2 seemed a little more "in your face" and Rearden's trial was epic) |
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1348
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 05, 2014, 01:36:14 AM
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sorry, no time to catch up, or even keep up with the thread, but I did have a thought I wanted to drop.
a challenge to the silent observers.
bitcoin doesn't scare you because it inhibits your ability to stop terrorism or drug trafficking.
bitcoin scares you because it won't let you hide the fact that you are profiting from terrorism and drug trafficking.
also the whole money creation racket, but that's old news.
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1349
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Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;)
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on: June 05, 2014, 12:27:54 AM
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This is one of the reasons I expect both a very strong bull market in Bitcoin combined with a brutal bear market in gold and other precious metals. So we could see BTC / USD in the 100,000 to 1 million range or higher and 1 oz of gold dropping to 500 USD or even below 100 USD. In effect a major transfer of wealth from gold to Bitcoin, kind of like the move from horse powered transportation to motor transportation 110 years ago.
I don't believe at all that bitcoin's rise means gold's demise. When bitcoin rises and holders diversify, a disproportionate amount is going to physical gold. I think this offsets the (also large) percentage of gold hoarders dishoarding gold to buy BTC. Fiat is the thing I don't see anyone is interested in this scenario. It is also an instrument of slavery, because for every dollar you own, someone else is in debt the equal amount. It is shameful to have balances in most national fiats for this reason (ruble, yuan perhaps exception). This is my strategy. Once the market value of a bitcoin equals the market value of an ounce of gold, a yet to be determined amount of my bitcoins will be sold/exchanged for gold. A small percentage mind you, as I'm a believer in the long-term progressive success of bitcoin. If something catastrophic happens (fatal flaw discovered in the protocol, whatever...), I will go down with the ship, bag in hand. Why an ounce? Both ounce and bitcoin are arbitrary: gold can be measured in carats or grams, and bitcoins can be millibitcoins or decibitcouns or whatever. Isn't it better to compare market caps of gold and bitcoin?$6,470,120,039,345 gold market cap btc market cap $ 8,249,485,143 [Apple market cap - 555.44 Billion] So the time to diversify to gold will come when they'll match, i.e. when bitcoin will be half-million each. no way dude. I have some gold and silver but I quit buying the second I heard about bitcoin. imagine I have (I wish) 200 bitcoins. let's say I've been securing them myself for several years now and have multiple levels of security for my various wallets. now let's say I want to diversify and move half of that into gold. that would be $500,000 X 100 bitcoin = 50 million dollars worth of gold. price is currently at about 1244 so that would be around 40 thousand ounces or about 1.244 metric tonnes of gold. ( not sure why those numbers work out that way, just weird?) point is, where the hell are you going to safely store a ton of gold? and how much is it gonna cost you? also, I thought this was an extremely good talk about bitcoin and gold and money in general and this conversation reminded me of it. https://www.youtube.com/watch?v=aQTI1OFFFdw Highly recommended. |
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1350
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Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;)
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on: June 04, 2014, 06:07:39 AM
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But how does one effectively bar a police state? ? Especially one that is gathering momentum? The sheeple seem to be in love with it.
sorry about that, it's a figure of speech I guess. what I meant to say was "unless society crumbles and we allow a 1984 styles police-state apocalypse, I think the adoption of bitcoin for governments is inevitable." |
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1351
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Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;)
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on: June 04, 2014, 06:03:31 AM
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I think DoM is good reading along with Currency Wars. I dont' 'belong' to any particular school but i enjoy the different theories. And, importantly, Rickards has been pretty spot on over the last few years, especially with regards to the longevity of the Euro.
thanks |
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1353
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Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;)
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on: June 04, 2014, 05:08:36 AM
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Countries might benefit more if they would invest today in BTC rather than gold, but we are quite far from there imho.
Still countries will benefit more from investing in gold today rather than investing in US treasuries.
About your "we don't need them" - I don't know what group of people this "we" refers to so I cannot comment.
Humans love gold since as far as history can see - it will not change.
Humans need an open and honest currency, and gold.
hi  "we" means productive people, "them" means leeches. humans will always love gold, it's a very cool metal. but it's use as a currency is limited. store of value? probably, for a while, but there's just so damn much of it. but this is the part I really like: Countries might benefit more if they would invest today in BTC rather than gold, At some point, a political party will win a majority vote on a platform of using bitcoin for at least some portion of it's finances. it's public money and we deserve to see where it's going. it will take a long time, but barring 1984 styles police-state apocalypse, I think it's inevitable. |
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1354
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Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;)
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on: June 04, 2014, 04:26:54 AM
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I have read though, in Rickards The Death of Money, that the gameplan of the big power blocs seems to be to drive down the price of PM's. One benefit of this is that the China's & Russia's can cheaply increase their gold holdings. Once it gets to 2.7 - 3 % of GDP, then, barring any kind of market crisis, the stage is set for the IMF to introduce SDR's which will include gold in the basket of currencies it is based on. This would significantly increase the fiat price of gold. Implicit to this is that the USD will cede its status as reserve currency.
In this case it might be gold up, bitcoin up?
sorry for barging in but I just wanted to address this part. I agree that it appears that china, russia, many countries are buying - or foolishly trying and waiting to repatriate - gold. but I don't think gold will save them. we don't need gold, and we don't need them. what we need is an open and honest currency. https://www.youtube.com/watch?v=KR3MgIPxb38 *edit, how do you rate Death of Money on a scale of 1 to 5? is it a good book? I like to read people that can write really well, and engage your imagination, so is it worth reading? |
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