Economic Totalitarianism

[trollercoaster]

I think the price was manipulated only for the final silk road BTC auction, lets see.

[luigi1111]

I think the price was manipulated only for the final silk road BTC auction, lets see.

That seems excessively tinfoil-hatty to me.

1. It's a piddly amount of money for the USMS.
2. Why was nothing similar done for the previous auctions?
3. Who would orchestrate it?
4. Why is the volume in China?
5. Why has it sold off $100 when the auction isn't till tomorrow?

[trollercoaster]

I don't really know Luigi, I only threw that out there because I saw a coindesk article on it.

It's only speculation on my behalf and I don't care enough to investigate whether it's plausible or tin foil hattery.

[luigi1111]

I don't really know Luigi, I only threw that out there because I saw a coindesk article on it.

It's only speculation on my behalf and I don't care enough to investigate whether it's plausible or tin foil hattery.

Ah, sorry. i think I misinterpreted the "tone" of your post.

BTC news sites are of course a complete joke in general, but that's orthogonal. 

[suda123]

I don't really know Luigi, I only threw that out there because I saw a coindesk article on it.

It's only speculation on my behalf and I don't care enough to investigate whether it's plausible or tin foil hattery.

Ah, sorry. i think I misinterpreted the "tone" of your post.

BTC news sites are of course a complete joke in general, but that's orthogonal. 

Oh also months ago I noticed the MLMS around bitcoin use the coindesk as a mainsite, I guess its there mainstream go to etc to sell news.

I usually just do the opposite of what coindesk does to make money.

[trollercoaster]

Who am I to let the truth get in the way of a good conspiracy theory 

[TPTB_need_war]

I concur that you predicted $315 in May and that you believed there was the possibility of it going to $440.

...

(currently $495)

This $380 - 440 was a near-term technical projection (target to be reached before roughly Oct 1 afair if it did, otherwise new technical projections would be required) on a chart and has nothing to do with Armstrong's model for a low in gold this coming Spring 2016. Also that technical projection may have increased by now (Nov. 5).

The price is going crazy volatile now if it was up to $495 while I was sleeping and then below $400 when I woke up.

Coinbase announced they are supporting the BitcoinXT block size increase in December. Rumors China will make Bitcoin legal. And the CHKLOCKVERIFY opcode to enable Lightning Networks has been moved into the Bitcoin code and to be a reality no later than early 2016.

Bitcoin could be diverging from gold. It is possible especially considering it is an orthogonal global speculation vehicle. Armstrong has documented yesterday that some stock markets appeared to have bottomed on his Oct 1 (2015.75) turn date.

The theory that Bitcoin would mimick Armstrong's gold bottom timing was my guess, not Armstrong's.

However, the liquidity contagion has not yet hit the sovereign debt crisis. Thus speculation is renewed. Let's see what happens to liquid assets such as gold and cash (Bitcoin) once there is a liquidity crisis. Also this pump would be a great manipulation for those who did it so they could borrow BTC to go short.

This nosebleed rise has all the markers of a pump and dump job.

If I had enough $ to speculate with, I would go leveraged short at $500. Alas, I am just converting BTC to USD so I can be sure I have the cash to pay my bills so I can code an altcoin.

[OROBTC]

I concur that you predicted $315 in May and that you believed there was the possibility of it going to $440.

...

(currently $495)

This $380 - 440 was a near-term technical projection (target to be reached before roughly Oct 1 afair if it did, otherwise new technical projections would be required) on a chart and has nothing to do with Armstrong's model for a low in gold this coming Spring 2016. Also that technical projection may have increased by now (Nov. 5).

The price is going crazy volatile now if it was up to $495 while I was sleeping and then below $400 when I woke up.

Coinbase announced they are supporting the BitcoinXT block size increase in December. Rumors China will make Bitcoin legal. And the CHKLOCKVERIFY opcode to enable Lightning Networks has been moved into the Bitcoin code and to be a reality no later than early 2016.

Bitcoin could be diverging from gold. It is possible especially considering it is an orthogonal global speculation vehicle. Armstrong has documented yesterday that some stock markets appeared to have bottomed on his Oct 1 (2015.75) turn date.

The theory that Bitcoin would mimick Armstrong's gold bottom timing was my guess, not Armstrong's.

However, the liquidity contagion has not yet hit the sovereign debt crisis. Thus speculation is renewed. Let's see what happens to liquid assets such as gold and cash (Bitcoin) once there is a liquidity crisis. Also this pump would be a great manipulation for those who did it so they could borrow BTC to go short.

This nosebleed rise has all the markers of a pump and dump job.

If I had enough $ to speculate with, I would go leveraged short at $500. Alas, I am just converting BTC to USD so I can be sure I have the cash to pay my bills so I can code an altcoin.

TPTB

Always nice to see your thoughts.  You come on back from time-to-time now, ya hear?

The BTC price run-up indeed has been completely orthogonal to gold.  I mentioned that I took advantage of the run-up to buy some gold with some of my BTC.  I sold at $410/BTC for the Au.  Next day it was at $490 (highest price that I personally saw).  I thought:

"Damn, I should have waited a day to buy [gold] !!!"

Then the price comes down today to $395 at one point, so I forgave myself (it's gotten easier to do that, having stopped drinking   ).

At this point, having "proved my point" (selling into a possibly bogus rally), I will now just sit this out and HODL the rest of my BTC.

[bigtimespaghetti]

I concur that you predicted $315 in May and that you believed there was the possibility of it going to $440.

...

(currently $495)

This $380 - 440 was a near-term technical projection (target to be reached before roughly Oct 1 afair if it did, otherwise new technical projections would be required) on a chart and has nothing to do with Armstrong's model for a low in gold this coming Spring 2016. Also that technical projection may have increased by now (Nov. 5).

The price is going crazy volatile now if it was up to $495 while I was sleeping and then below $400 when I woke up.

Coinbase announced they are supporting the BitcoinXT block size increase in December. Rumors China will make Bitcoin legal. And the CHKLOCKVERIFY opcode to enable Lightning Networks has been moved into the Bitcoin code and to be a reality no later than early 2016.

Bitcoin could be diverging from gold. It is possible especially considering it is an orthogonal global speculation vehicle. Armstrong has documented yesterday that some stock markets appeared to have bottomed on his Oct 1 (2015.75) turn date.

The theory that Bitcoin would mimick Armstrong's gold bottom timing was my guess, not Armstrong's.

However, the liquidity contagion has not yet hit the sovereign debt crisis. Thus speculation is renewed. Let's see what happens to liquid assets such as gold and cash (Bitcoin) once there is a liquidity crisis. Also this pump would be a great manipulation for those who did it so they could borrow BTC to go short.

This nosebleed rise has all the markers of a pump and dump job.

If I had enough $ to speculate with, I would go leveraged short at $500. Alas, I am just converting BTC to USD so I can be sure I have the cash to pay my bills so I can code an altcoin.

TPTB

Always nice to see your thoughts.  You come on back from time-to-time now, ya hear?

The BTC price run-up indeed has been completely orthogonal to gold.  I mentioned that I took advantage of the run-up to buy some gold with some of my BTC.  I sold at $410/BTC for the Au.  Next day it was at $490 (highest price that I personally saw).  I thought:

"Damn, I should have waited a day to buy [gold] !!!"

Then the price comes down today to $395 at one point, so I forgave myself (it's gotten easier to do that, having stopped drinking   ).

At this point, having "proved my point" (selling into a possibly bogus rally), I will now just sit this out and HODL the rest of my BTC.

Probably should have got some AG/AU myself. Was easier to just trade the parabola. Funny you should mention buying metals, a friend of mine did exactly the same thing! With btc that is.

[OROBTC]

...

bigtimespaghetti

Yes, if you do not now own any Au or Ag, NOW would be a good time to acquire a position (physical only, no "paper gold").  Especially if you have children.


*   *   *


Economist Martin Armstrong put out a great piece today that is very relevant to the Economic Totalitarianism being inflicted on almost all of us:

"Yellen Tells Congress Negative Interest Rates Are Possible"

http://www.armstrongeconomics.com/archives/38983

Janet Yellen told Congress:

“Potentially anything – including negative interest rates – would be on the table. But we would have to study carefully how they would work here in the U.S. context.”

OROBTC comment:

Um, how is it that the head of the Federal Reserve (NOT part of the US government, the "Fed" is privately owned, not only that the ownership is secret or at least obscure) tells CONGRESS what the direction of monetary policy should be?

Armstrong also notes that "negative interest rates would wipe out the elderly."  NIRP may not wipe them out, but with NO INCOME (or even negative income for cash in the bank), it would hurt a lot.

I am not an economist (and would resent any innuendo that I am), but IMO we should get back to a POSITIVE (but modest) interest rate.  Savers are people too!

[TPTB_need_war]

http://www.nestmann.com/theyre-coming-for-your-cash

http://www.nestmann.com/spy-on-your-customers-or-else

http://www.nestmann.com/how-to-stay-off-the-no-fly-list

http://www.nestmann.com/how-to-protect-yourself-from-border-big-brother

After attending a conference in China, Mayor Anthony Silva returned to the US, where border officials singled him out for secondary inspection. During that inspection, they confiscated his laptop and smartphones. They demanded Silva disclose his passwords and informed him he would remain in detention until he complied. Silva also learned that he had “no right for a lawyer to be present” and that being a US citizen did not “entitle [Silva] to rights that [he] probably thought.” After revealing his passwords, Silva was allowed to proceed but without his electronic devices.

http://www.nestmann.com/the-big-biz-big-gov-world-of-donald-trump

[suda123]

http://www.nestmann.com/theyre-coming-for-your-cash

http://www.nestmann.com/spy-on-your-customers-or-else

http://www.nestmann.com/how-to-stay-off-the-no-fly-list

http://www.nestmann.com/how-to-protect-yourself-from-border-big-brother

After attending a conference in China, Mayor Anthony Silva returned to the US, where border officials singled him out for secondary inspection. During that inspection, they confiscated his laptop and smartphones. They demanded Silva disclose his passwords and informed him he would remain in detention until he complied. Silva also learned that he had “no right for a lawyer to be present” and that being a US citizen did not “entitle [Silva] to rights that [he] probably thought.” After revealing his passwords, Silva was allowed to proceed but without his electronic devices.

http://www.nestmann.com/the-big-biz-big-gov-world-of-donald-trump

hehehehe i pulled out my cash at 400 B AWHAUHWUAWHAW

[RealBitcoin]

hehehehe i pulled out my cash at 400 B AWHAUHWUAWHAW

You sold bitcoin at 400$? So now you have worthless fiat that can be confiscated anytime 

After attending a conference in China, Mayor Anthony Silva returned to the US, where border officials singled him out for secondary inspection. During that inspection, they confiscated his laptop and smartphones. They demanded Silva disclose his passwords and informed him he would remain in detention until he complied. Silva also learned that he had “no right for a lawyer to be present” and that being a US citizen did not “entitle [Silva] to rights that [he] probably thought.” After revealing his passwords, Silva was allowed to proceed but without his electronic devices.

So now you see why Trezor and Ledger are not the best way to store your bitcoins.

Trezor might be secure against hacks, but its not secure against extortion.

[trollercoaster]

http://www.armstrongeconomics.com/archives/39274


G20 Agrees to Share ALL Information on Everyone Starting in 2017

The Bundestag in Germany has unanimously adopted the automatic exchange of financial data with all other states. Banks will be obliged to report information on credit, interest, and dividends from 2017 to the authorities. You can no longer get a credit card outside of the country. You live to pay taxes. Nobody wants to deal with the nightmare of keeping track of everyone. The costs have already exceeded $200 billion and are rising within the private sector so that these politicians can increase taxes on everything.

[macsga]

Paris under attack?!

http://live.reuters.com/Event/Paris_attacks_2

[hdbuck]

Paris under attack?!

http://live.reuters.com/Event/Paris_attacks_2

yep, welcome to the new world order.

[suda123]

...

TPTB

I read about some kind of Ponzi scheme going on in The Philippines called something like "MMM", and spread around by YouTube videos (weird, I know).

Is there something like this going on over there?  You're the best one I know offhand to report on this.

BTC was at $360 (up almost 10% just today).  Maybe time to spend some...?

TPTB is probably wondering how could he get so wrong his prediction about the $100 Bitcoin price which according to him will follow the early summer $300 price. Instead of the price is $390.00.

Except it again proceeded exactly to my prediction of a bounce up to the $380 - $440 range:

https://bitcointalk.org/index.php?topic=1082909.msg12880333#msg12880333

I have no idea how you people manage to ignore the details of my predictions and then go spouting off slander when I am not around to read it. Luckily I came back here to set the record straight.

This past May I predicted the rise to $315 (exactly!) and then a fall down again. I have maintained that Bitcoin will make final lower lows (< $150) roughly on target with Armstrong's benchmark targets for gold, which is in the Spring of 2016.

You will even find where I have been predicting a bounce in Bitcoin since August or so, when gold started to bounce. I can't fathom how you forgot that?

Nothing has changed, except if Bitcoin moves higher into the $500s, then the technicals I was using to target a $380 - $440 bull trap bounce would be wrong. But that doesn't necessary change anything about the < $150 low coming.

Btw, I am selling as fast as I can now!

Let's see who gets the last laugh on this one.

come back pls your the only reason why i come here

[TPTB_need_war]

...

And here again as follows Ven is attempting a similar goal but the marketing problem again is the distribution to the users, as Ven requires users to "Top Up" which I assume means exchange some fiat to obtain some Ven:

https://en.wikipedia.org/wiki/Ven_(currency)

Ven (sign: VEN) is a global digital currency traded in international financial markets and originally used by members of a social network service, Hub Culture, to buy, share, and trade knowledge, goods, and services. The value of Ven is determined on the financial markets from a basket of currencies, commodities and carbon futures. It trades against major currencies at floating exchange rates. Ven is currently listed on the LMAX Exchange.

History

According to Hub Culture, Ven first appeared as an application in Facebook on 4 July 2007.

In 2009, The Wall Street Journal described the currency as being pegged to the US dollar, and used by Hub Culture's users to trade goods, services, and knowledge. One user described having been paid in Ven for making introductions and other favors.

http://info.ven.vc/wordpress/

FEDERAL RESERVE FASTER PAYMENTS TASK FORCE GATHERS SPEED

Hub Culture and Ven are part of the 300 person strong Faster Payments Task Force, a landmark initiative by the Federal Reserve to build consensus around payments innovation in the United States.  The task force includes leaders from across the world of payments, including banks large and small, service providers, stakeholders, regulators and academics from the United States.

Through a series of calls, webinars and in person meetings, the task force seeks to understand and develop end-to-end solutions for ubiquitous, secure payment infrastructure in the financial services industry. The effort is particularly centered around the Federal Reserve’s payment services.

This week the group is meeting in Chicago to continue refining criterion for approaches to faster payment systems in the US, and to develop the conversation on a wide range of issues concerning other aspects that emerge from the work. Over 4,000 have signed up to monitor the progress via online tools.

Digital assets like Ven and identity/compliance systems like HubID are part of the conversation with other approaches and services as part of the ‘non-bank providers’ working segment.

Together, the blueprints for faster payments in the US and beyond are emerging, but a final solution is not expected soon. Working groups and segments are are set to continue development through 2016 as part of the existing remit of the task force, with an ongoing series of meetings and other activities.

[trollercoaster]

http://www.independent.co.uk/news/world/europe/france-state-of-emergency-declared-for-three-months-allowing-authorities-to-shut-down-websites-and-a6740886.html

Police in France have been given huge new powers including the ability to put people under house arrest without trial and to block websites.

France's parliament has extended the country's state of emergency for three months, allowing authorities to get access to huge powers that date back to 1955.

The state of emergency was declared on Saturday, just after attacks that left 129 people dead.

Such a decision gives the police powers including the ability to keep people in their homes without trial, searching the homes of people without a warrant from a judge, and the power to block any website that is deemed a problem.

Rights groups have worried that the decision could become permanent, allowing for the extension of authorities' powers into normal life. But the French government said that such powers were necessary.

"This is the fast response of a democracy faced with barbarism. This is the effective legal response in the face of an ideology of chaos," Prime Minister Emmanuel Valls told parliament.

Valls said the measures were "modern and effective tools to fight the terrorist threat".

Under the state of emergency, police have the power to conduct searches without getting judicial warrants, though they cannot search the homes and offices of parliamentarians, journalists or lawyers.

The new measures mean anyone suspected of posing a threat to security can be placed under house arrest for 12 hours a day to restrict their movement. Even if the house arrest is lifted, suspects can be prevented from meeting others deemed a threat.

Electronic tagging can also be used to ensure suspects under house arrest who are particularly dangerous remain confined.

The authorities have the power to block Internet sites deemed to incite or advocate "acts of terrorism", public demonstrations are banned and groups inciting acts that could seriously affect public order can be dissolved.

Rights campaign group Amnesty International said the emergency measures must not become permanent fixtures.

[RealBitcoin]

France's parliament has extended the country's state of emergency for three months, allowing authorities to get access to huge powers that date back to 1955.

Hitler too also said that the Enabling Act of 1933 was only temporary... then it came tyrrany....genocide... and war.

https://en.wikipedia.org/wiki/Enabling_Act_of_1933
https://en.wikipedia.org/wiki/Reichstag_Fire_Decree

History repeats itself?