I've been a purchaser of gold today in fact, hard to conceive it will not be a good investment long term. I'm sitting out the bitcoin market just now. I'll be a bitcoin buyer again when I feel the time is right, but expecting a few months of consolidation first.
With the market going up gold should remain very volatile. I'm sitting on the sidelines for a while but would love to buy more gold coins. I sold all mine as soon as it went back down to $1700 again. Might be a good time to play volatility if you are a high risk investor. Just make sure you know how to leverage or are prepared to hold for a long time.
Gold went down because Goldman Sachs (evil thieves) told clients to short gold on the COMEX. While they are right and gold has been a bubble for years they induced a panic sell.
Hopefully history will record that this crash was a pivotal global economic event, as it seems that the Tory-Trotskyite Federal Reserve Gold Pharaoh Mensheviks, flush with their countless boatloads of worthless "Our-Slaves-Owe-Us"- Note "quantitative counterfeit" bogus-treasury scrip, seem to have moved in on our BTC-Securitized Future Derivative Contracts to stake their Bilderberg Masters out a big position in Our gold-killing, highly utilitarian, durable, secure, untraceable and versatile new digital Medium of Labour-Exchange Currency, by hostile takeover, and just decided to perform a little "stress test" on it before they move in on our Reserve Exchanges for the final kill.
Then they hope to grab an enslavement monopoly on it like the one they have long enjoyed, capitalized from, derived from and molested us with employing their gold, which will surely be nearly obsoleted by it as a usable, deflationary "money" in and of itself. (anything proffered as "gold" may always just be plated tungsten)
BUT - Bitcoin has a SEVERE problem with "exchanges" that inanely want to try to behave as "stock markets" (gang-spikers with tire shops).
What they are doing with their "BTC-Securitized Future Derivative Contracts" now is:
- Punishing small buyers and all new "casual" users adopting the currency with the highest fees
- Punishing small sellers and all new "casual" and small retailers adopting (redeeming) the currency with the highest fees
- Rewarding speculative traders, leeching off of the daily spreads or ramps of the currency value with lower fees for greater churning "volumes over days" rewards
- Rewarding big, huge-trader Pharaohs for staking out far riskier out of bounds idle-preying positions, not actually expected to "exchange", that would facilitate steep uncontrollable risks to the currency value by extending sudden random ramps or slides to ludicrous and/or disastrous extremes.
- They are actually encouraging and rewarding speculation and volatility with their risky, counter-productive and suicidal, totally ignorant volume-discount fee nonsense.
This BTC future-securitized derivative-contract was intended as OUR transnational MEDIUM OF LABOUR-EXCHANGE CURRENCY not as somebody else's silly common commodity-resource share! (or wasn't it?
)
Well regulating the Bitcoin future-securitized derivative-contract's currency value "automatically" is a simple trick that can easily be done through the trading (vs exchanging) fee structures. You simply punish people progressively and exponentially more through sliding fees for staking-out asks and bids further out of bounds, to negate the benefits of pump and dump, while still allowing a bit of churning reward for day-value trading and/or price reward for patient bargain-seeking bid-ask haggling.
The problem with the fiat nature of BTC-derivative trading is that "democracy" (even so-called "free" market laissez-faire) is no way to run a well regulated Supra-National Global Labour Exchange Currency system! The hallmark of a Adam Smith sort of Freed Market is that it is always well-regulated. The hallmark of the "stable currency" value of a Medium of Labour-Exchange (Currency) is it's retention of an assured (or assuredly increasing) value for the length of a contract and most-any exchanging or commercial transaction and the periods of it's saving.
You see a Bitcoin is simply a derivative that only represents the LOOT or SERVICES that the guy that you got it off, got out of you for it, and made off with. It is a fiat "futures derivative contract" that arguably has some but really has no certain inherent added-value. Like a "gold contract' or "mortgage backed security' (I love that last word) derivative it is a "BTC -securitized Future Derivative Contract" that merely allows you to keep, transfer it in, transfer it around or transfer it somewhere else to resell it there for whatever it may seem to be worth to the next guy, a minimum of an hour from now.
The challenge the Bitcoin Nation now has is to develop a self-regulating set of automatic trading (fiat value voting) rules that advantage, reward and encourage staid and conservative trade-exchange, over reasonable and tiny fractional ranges about current values, yet HARSHLY and PROGRESSIVELY, EXPONENTIALLY PUNISH out of range (more volatile) bidding and asking with exorbitantly prohibitive fees, thereby automatically attenuating, limiting and shutting down volatile ramp-ups and slides in the preciously guarded DURABLE VALUE of our new currency...
Everything is a "scam" unless you do your homework, and find out it's perfectly legal and legitimate.
Read this: Bubbles with bitcoins
https://bitcointalk.org/index.php?topic=175708.msg1832923#msg1832923We are not doing anything nearly as lawless nor clearly as fraudulent as pawning off Mortgage Backed Security Future Derivative Contracts! Our contracts have real utility as a durably physical future security derivative.
Unless civilization and communication collapse tomorrow, gold is dead it's just that few really know about why it is destined to happen, how (perfectly lawful Bitcoin) or why.