ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 22, 2013, 08:01:19 PM |
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FNG
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July 22, 2013, 08:02:30 PM |
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Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. The amount on the market is miniscule and many sellers have already blown their load.
+1. By going up about 5%, Silver just increased its market cap 20 times more than the total of bitcoin's market cap. Silver is tiny, so bitcoin is minuscule. Yeah..just think of google or apple going up 1%. That's bigger than bitcoins market cap and it's 1 fucking tech stock. So much potential here. I'm not calling bears stupid but I can't find a sane reason to short btc even if you think it may drop 50%..the rise may break your neck. Downside much less than potential upside. Bolded for a reason
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tutkarz
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July 22, 2013, 08:03:05 PM |
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When MtGox finally goes down and Bitcoin is used as it was meant to be, what would you guys do?
I don't know what to tell you more than i'm creating a game where you will be able to earn bitcoins by playing. And i'm not going to accept any other currencies. Which means i don't know how to respond you because what you are speaking is totally irrelevant to me. But maybe i didn't understand what you mean by "used as it was meant to be".
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wachtwoord
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July 22, 2013, 08:14:50 PM |
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Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. The amount on the market is miniscule and many sellers have already blown their load.
+1. By going up about 5%, Silver just increased its market cap 20 times more than the total of bitcoin's market cap. Silver is tiny, so bitcoin is minuscule. Yeah..just think of google or apple going up 1%. That's bigger than bitcoins market cap and it's 1 fucking tech stock. So much potential here. I'm not calling bears stupid but I can't find a sane reason to short btc even if you think it may drop 50%..the rise may break your neck. Downside much less than potential upside. Bolded for a reason MSFT lost 11% on one day last week.
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molecular
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July 22, 2013, 08:16:34 PM |
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Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. The amount on the market is miniscule and many sellers have already blown their load.
+1. By going up about 5%, Silver just increased its market cap 20 times more than the total of bitcoin's market cap. Silver is tiny, so bitcoin is minuscule. what happens to a mosquito in a storm?
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molecular
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July 22, 2013, 08:17:09 PM |
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When MtGox finally goes down and Bitcoin is used as it was meant to be, what would you guys do?
Live life until I die.
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manfred
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Activity: 966
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Energy is Wealth
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July 22, 2013, 08:22:22 PM |
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When MtGox finally goes down and Bitcoin is used as it was meant to be, what would you guys do?
There should be two "bitcoins" one for the fool finding bigger fool guys and the other one for using it the way it is intended to be used.
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ElectricMucus
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Marketing manager - GO MP
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July 22, 2013, 08:25:50 PM |
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Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility. Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
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molecular
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July 22, 2013, 08:27:18 PM |
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When MtGox finally goes down and Bitcoin is used as it was meant to be, what would you guys do?
There should be two "bitcoins" one for the fool finding bigger fool guys and the other one for using it the way it is intended to be used. What is was way bitcoin was intended to be used in again? As a store of wealth? As a unit of account?
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FNG
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July 22, 2013, 08:30:57 PM |
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Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. The amount on the market is miniscule and many sellers have already blown their load.
+1. By going up about 5%, Silver just increased its market cap 20 times more than the total of bitcoin's market cap. Silver is tiny, so bitcoin is minuscule. Yeah..just think of google or apple going up 1%. That's bigger than bitcoins market cap and it's 1 fucking tech stock. So much potential here. I'm not calling bears stupid but I can't find a sane reason to short btc even if you think it may drop 50%..the rise may break your neck. Downside much less than potential upside. Bolded for a reason MSFT lost 11% on one day last week. yup. Over 30x btc's market cap
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FNG
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July 22, 2013, 08:41:08 PM |
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Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility. Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right?
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ElectricMucus
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July 22, 2013, 08:47:02 PM |
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Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility. Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right? Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content. About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver. Bitcoins utility is sending anonymous payments in the black market and website donations. Both rhodium and bitcoin exhibit wild hype cycles and car salesmen personalities trying to pump & dump.
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wachtwoord
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July 22, 2013, 08:49:33 PM |
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Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility. Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right? Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content. About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver. I believe 5-10% of the market cap of gold is from use in jewelry.
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ElectricMucus
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Activity: 1666
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July 22, 2013, 08:50:13 PM |
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Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility. Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right? Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content. About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver. I believe 5-10% of the market cap of gold is from use in jewelry. Look it up.
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Pruden
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July 22, 2013, 09:03:17 PM |
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Look at that 2700 BTC buy wall at market price that has just appeared. It is not very visible in ChartBuddy's picture. Everything has gone quiet.
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FNG
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July 22, 2013, 09:04:19 PM |
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Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility. Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right? Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content. About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver. I believe 5-10% of the market cap of gold is from use in jewelry. Look it up. Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
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Tzupy
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July 22, 2013, 09:09:49 PM |
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That's the buying whale, he's willing to buy at 91.6 but does not want to move the price up. That's because he wants to buy more at 90-ish. So he waits for a selling whale to meet his price.
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ElectricMucus
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Activity: 1666
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July 22, 2013, 09:10:12 PM |
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Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
It's bought for bling, that implies value but it's not bought as an investment. It's bought to be used. Since jewelery isn't even made up of pure gold and is alloyed it's made to be used, a investor looking for a store of value in terms of gold wouldn't care if it's made up of pure gold, even better the alloying wouldn't have to be payed, pure gold bullion is the most popular form of use as investment. So it does matter if you buy a a bar or coin versus a ring or necklace. There even is a difference in terms of investment only vs monetary use with gold. Only alloyed coins are made for circulation. Gold is soo different from bitcoin.
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FNG
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July 22, 2013, 09:20:00 PM |
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Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
It's bought for bling, that implies value but it's not bought as an investment. It's bought to be used. Since jewelery isn't even made up of pure gold and is alloyed it's made to be used, a investor looking for a store of value in terms of gold wouldn't care if it's made up of pure gold, even better the alloying wouldn't have to be payed, pure gold bullion is the most popular form of use as investment. So it does matter if you buy a a bar or coin versus a ring or necklace. Most popular where? Gold here is 23k (96.5%) whether it's a bar or jewelry. jewelry carries a VERY small premium and may be used as "bling" but it is a store of value. 23k and 22k is prevalent in Asia as jewelry and it is a store of value. if I throw a stone in Bangkok I can hit a dozen gold shops..they're not selling alloyed bling to the rich..they're buying and selling a store of value to the masses at a pretty tight spread at the market price. Shit 14k jewelry with a 800% markup doesn't sell in most of the world.
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ElectricMucus
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Activity: 1666
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July 22, 2013, 09:23:08 PM |
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Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
It's bought for bling, that implies value but it's not bought as an investment. It's bought to be used. Since jewelery isn't even made up of pure gold and is alloyed it's made to be used, a investor looking for a store of value in terms of gold wouldn't care if it's made up of pure gold, even better the alloying wouldn't have to be payed, pure gold bullion is the most popular form of use as investment. So it does matter if you buy a a bar or coin versus a ring or necklace. Most popular where? Gold here is 23k (96.5%) whether it's a bar or jewelry. jewelry carries a VERY small premium and may be used as "bling" but it is a store of value. 23k and 22k is prevalent in Asia as jewelry and it is a store of value. if I throw a stone in Bangkok I can hit a dozen gold shops..they're not selling alloyed bling to the rich..they're buying and selling a store of value to the masses at a pretty tight spread at the market price. Shit 14k jewelry with a 800% markup doesn't sell in most of the world. . That's bullshit. Metric Investment bars are 99.9 and investment bullion coins are 99.9. Oh and comex 400oz bars are also pure gold. Again, look it up. I don't about your story about 23k jewelery but I suspect you just pulled that up out of your ass.
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