Bitcoin Forum
September 23, 2020, 10:24:43 AM *
News: Latest Bitcoin Core release: 0.20.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: 9/19 Closing Price:
0 - 1 (1.6%)
<$10,000 - 3 (4.8%)
$10,000-$10,500 - 2 (3.2%)
$10,501-$11,000 - 13 (20.6%)
$11,001-$11,500 - 19 (30.2%)
$11,501-$12,000 - 8 (12.7%)
$12,001-$12,500 - 7 (11.1%)
$12,501-$13,000 - 2 (3.2%)
>$13,000 - 3 (4.8%)
>$20,000 - 5 (7.9%)
Total Voters: 63

Pages: « 1 ... 19966 19967 19968 19969 19970 19971 19972 19973 19974 19975 19976 19977 19978 19979 19980 19981 19982 19983 19984 19985 19986 19987 19988 19989 19990 19991 19992 19993 19994 19995 19996 19997 19998 19999 20000 20001 20002 20003 20004 20005 20006 20007 20008 20009 20010 20011 20012 20013 20014 20015 [20016] 20017 20018 20019 20020 20021 20022 20023 20024 20025 20026 20027 20028 20029 20030 20031 20032 20033 20034 20035 20036 20037 20038 20039 20040 20041 20042 20043 20044 20045 20046 20047 20048 20049 20050 20051 20052 20053 20054 20055 20056 20057 20058 20059 20060 20061 20062 20063 20064 20065 20066 ... 27285 »
  Print  
Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 22480321 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (148 posts by 37 users deleted.)
BTCMILLIONAIRE
Hero Member
*****
Offline Offline

Activity: 1372
Merit: 799



View Profile
April 01, 2018, 10:19:05 PM

For those of you comparing gold to bitcoin, don’t.  

The gold price is suppressed because gold is too easy to mine with modern mining techniques. Gold has a supply problem, there is too much of it.  We have mined far more gold since 1950 than we have in all of history, and that has flooded the market.

Quote
The best estimates currently available suggest that around 190,040 tonnes of gold has been mined throughout history, of which around two-thirds has been mined since 1950.

Source:  https://www.gold.org/about-gold/gold-supply/gold-mining/how-much-gold-has-been-mined

Further there are too many planned mine expansions.  A single planned mine expansion in Australia (BHP Olympic Dam) would yield 15,000 tonnes of gold and 90,000 tonnes of silver.  That’s almost 10% of historical global supply from a single mine. No market can absorb that type of new supply without collapsing the price.

So ignore the 4th dimension conspiracy bullshit, because the author doesn’t know how supply and demand works in the gold market.

Bitcoin is scarce.  Gold is as common as dirt.
Not to mention the very real threat of synthetic gold becoming dirt cheap with breakthroughs in either the synthetic process itself or energy (nuclear fusion), or future asteroid mining. I wouldn't bet on metals for the next decades as a safe haven.
1600856683
Hero Member
*
Offline Offline

Posts: 1600856683

View Profile Personal Message (Offline)

Ignore
1600856683
Reply with quote  #2

1600856683
Report to moderator
1600856683
Hero Member
*
Offline Offline

Posts: 1600856683

View Profile Personal Message (Offline)

Ignore
1600856683
Reply with quote  #2

1600856683
Report to moderator
1600856683
Hero Member
*
Offline Offline

Posts: 1600856683

View Profile Personal Message (Offline)

Ignore
1600856683
Reply with quote  #2

1600856683
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1600856683
Hero Member
*
Offline Offline

Posts: 1600856683

View Profile Personal Message (Offline)

Ignore
1600856683
Reply with quote  #2

1600856683
Report to moderator
1600856683
Hero Member
*
Offline Offline

Posts: 1600856683

View Profile Personal Message (Offline)

Ignore
1600856683
Reply with quote  #2

1600856683
Report to moderator
bones261
Legendary
*
Offline Offline

Activity: 1806
Merit: 1823



View Profile
April 01, 2018, 10:29:51 PM

For those of you comparing gold to bitcoin, don’t.  

The gold price is suppressed because gold is too easy to mine with modern mining techniques. Gold has a supply problem, there is too much of it.  We have mined far more gold since 1950 than we have in all of history, and that has flooded the market.

Quote
The best estimates currently available suggest that around 190,040 tonnes of gold has been mined throughout history, of which around two-thirds has been mined since 1950.

Source:  https://www.gold.org/about-gold/gold-supply/gold-mining/how-much-gold-has-been-mined

Further there are too many planned mine expansions.  A single planned mine expansion in Australia (BHP Olympic Dam) would yield 15,000 tonnes of gold and 90,000 tonnes of silver.  That’s almost 10% of historical global supply from a single mine. No market can absorb that type of new supply without collapsing the price.

So ignore the 4th dimension conspiracy bullshit, because the author doesn’t know how supply and demand works in the gold market.

Bitcoin is scarce.  Gold is as common as dirt.
Not to mention the very real threat of synthetic gold becoming dirt cheap with breakthroughs in either the synthetic process itself or energy (nuclear fusion), or future asteroid mining. I wouldn't bet on metals for the next decades as a safe haven.

I'm not sure why people all go to nucleosynthesis and asteroid mining when presenting these arguments. The gold industry hasn't even made it economically feasible to do deep sea mining or just digging deeper. We haven't even pecked the surface of our own planet. I would imagine going down deeper  into the crust and maybe even starting to go into the mantle would be way cheaper than flying back and forth to some asteroid.
Ivor Biggun
Member
**
Offline Offline

Activity: 196
Merit: 19


View Profile
April 01, 2018, 10:36:58 PM

For those of you comparing gold to bitcoin, don’t.  

The gold price is suppressed because gold is too easy to mine with modern mining techniques. Gold has a supply problem, there is too much of it.  We have mined far more gold since 1950 than we have in all of history, and that has flooded the market.

Quote
The best estimates currently available suggest that around 190,040 tonnes of gold has been mined throughout history, of which around two-thirds has been mined since 1950.

Source:  https://www.gold.org/about-gold/gold-supply/gold-mining/how-much-gold-has-been-mined

Further there are too many planned mine expansions.  A single planned mine expansion in Australia (BHP Olympic Dam) would yield 15,000 tonnes of gold and 90,000 tonnes of silver.  That’s almost 10% of historical global supply from a single mine. No market can absorb that type of new supply without collapsing the price.

So ignore the 4th dimension conspiracy bullshit, because the author doesn’t know how supply and demand works in the gold market.

Bitcoin is scarce.  Gold is as common as dirt.
Not to mention the very real threat of synthetic gold becoming dirt cheap with breakthroughs in either the synthetic process itself or energy (nuclear fusion), or future asteroid mining. I wouldn't bet on metals for the next decades as a safe haven.

I'm not sure why people all go to nucleosynthesis and asteroid mining when presenting these arguments. The gold industry hasn't even made it economically feasible to do deep sea mining or just digging deeper. We haven't even pecked the surface of our own planet. I would imagine going down deeper  into the crust and maybe even starting to go into the mantle would be way cheaper than flying back and forth to some asteroid.

Aluminium used to cost more than gold, then someone figured out how to produce it electrolytically. An inventor can sometimes disrupt an established market like aluminium or gold.

Satoshi's invention springs to mind as another example.
Rosewater Foundation
Sr. Member
****
Offline Offline

Activity: 392
Merit: 254



View Profile
April 01, 2018, 11:22:11 PM

Capitulation question. Canadian exchanges have just thrown up a bundle of verification roadblocks to withdrawal to fiat. With hundreds of BTM's in most cities, what's to stop someone from going machine to machine cashing out?
HairyMaclairy
Legendary
*
Offline Offline

Activity: 1218
Merit: 1962


Degenerate bull hatter & Bitcoin monotheist


View Profile
April 01, 2018, 11:24:48 PM

You have to verify for BTMs in my country.
Rosewater Foundation
Sr. Member
****
Offline Offline

Activity: 392
Merit: 254



View Profile
April 01, 2018, 11:31:11 PM

You have to verify for BTMs in my country.

ok I just found one. No verification required, paying about $700 below Preev. I guess that's the cost of laundering monies these days.
HairyMaclairy
Legendary
*
Offline Offline

Activity: 1218
Merit: 1962


Degenerate bull hatter & Bitcoin monotheist


View Profile
April 01, 2018, 11:35:35 PM

It won’t last then.
Rosewater Foundation
Sr. Member
****
Offline Offline

Activity: 392
Merit: 254



View Profile
April 01, 2018, 11:36:02 PM

It won’t last then.

agreed.
European Central Bank
Legendary
*
Offline Offline

Activity: 1288
Merit: 1087



View Profile
April 02, 2018, 12:16:58 AM
Merited by infofront (1)

it looks like sometimes data mining catches out the creeps at the top too.

https://news.uchicago.edu/article/2018/03/06/nyc-taxi-ride-data-suggest-cozy-relationship-between-big-banks-and-fed
jojo69
Legendary
*
Offline Offline

Activity: 1876
Merit: 2520


no FOMO


View Profile
April 02, 2018, 12:24:44 AM


Utterly unsurprising, yet still infuriating, makes me want to burn and rob.
yefi
Legendary
*
Offline Offline

Activity: 2401
Merit: 1282



View Profile
April 02, 2018, 12:33:09 AM

Further there are too many planned mine expansions.  A single planned mine expansion in Australia (BHP Olympic Dam) would yield 15,000 tonnes of gold and 90,000 tonnes of silver.  That’s almost 10% of historical global supply from a single mine. No market can absorb that type of new supply without collapsing the price.

Is that really reserves? Sounds like it should be resources. The Gold Council page you linked to suggests there's 54 kt of reserves worldwide... so that's a lot.
Toxic2040
Legendary
*
Offline Offline

Activity: 910
Merit: 1826



View Profile
April 02, 2018, 12:39:04 AM

It wont be long. Couple more weeks to a month. Some good buying opportunities on the horizon.

Hueristic
Legendary
*
Offline Offline

Activity: 2478
Merit: 1715


Doomed to see the future and unable to prevent it


View Profile
April 02, 2018, 12:41:59 AM

LOL, nice poll for the 1st. Smiley

Where's the less than 24 hours choice?
explorer
Legendary
*
Offline Offline

Activity: 1610
Merit: 1139



View Profile
April 02, 2018, 12:51:50 AM

Capitulation question. Canadian exchanges have just thrown up a bundle of verification roadblocks to withdrawal to fiat. With hundreds of BTM's in most cities, what's to stop someone from going machine to machine cashing out?


link?

what kind of roadblocks?  what if one is already verified out the ass on multiple exchanges, domestically and internationally?

Quadriga will still courier bundles of cash, right?
Rosewater Foundation
Sr. Member
****
Offline Offline

Activity: 392
Merit: 254



View Profile
April 02, 2018, 12:56:34 AM

Capitulation question. Canadian exchanges have just thrown up a bundle of verification roadblocks to withdrawal to fiat. With hundreds of BTM's in most cities, what's to stop someone from going machine to machine cashing out?


link?

what kind of roadblocks?  what if one is already verified out the ass on multiple exchanges, domestically and internationally?

Quadriga will still courier bundles of cash, right?

Yeah but check the withdrawal page now. Everything requires verification. That wasn't the case 6 weeks ago.
cAPSLOCK
Legendary
*
Offline Offline

Activity: 2674
Merit: 1794


Holding my Breath


View Profile
April 02, 2018, 12:58:13 AM

C'mon corn!

If Jesus could do it, I bet you can too!

European Central Bank
Legendary
*
Offline Offline

Activity: 1288
Merit: 1087



View Profile
April 02, 2018, 12:59:56 AM

Yeah but check the withdrawal page now. Everything requires verification. That wasn't the case 6 weeks ago.

canadian localbitcoins volume just went through the roof - https://coin.dance/volume/localbitcoins/CAD

related?

but so did europe as well. it's far higher than the peak of the bubble. i'm really not sure why.
Rosewater Foundation
Sr. Member
****
Offline Offline

Activity: 392
Merit: 254



View Profile
April 02, 2018, 01:02:54 AM

Yeah but check the withdrawal page now. Everything requires verification. That wasn't the case 6 weeks ago.

canadian localbitcoins volume just went through the roof - https://coin.dance/volume/localbitcoins/CAD

related?

but so did europe as well. it's far higher than the peak of the bubble. i'm really not sure why.

Bank of Montreal is stopping all crypto-related purchases through credit/debit card. The rest will probably follow suit
Ivor Biggun
Member
**
Offline Offline

Activity: 196
Merit: 19


View Profile
April 02, 2018, 01:03:38 AM

Capitulation question. Canadian exchanges have just thrown up a bundle of verification roadblocks to withdrawal to fiat. With hundreds of BTM's in most cities, what's to stop someone from going machine to machine cashing out?


link?

what kind of roadblocks?  what if one is already verified out the ass on multiple exchanges, domestically and internationally?

Quadriga will still courier bundles of cash, right?

Are there any big Canadian exchanges? I thought most of the big exchanges were based elsewhere in the world.

QuadrigaCX is at 61th place for volume according to coinmarketcap.

https://coinmarketcap.com/exchanges/volume/24-hour/

The only other exchange bitcoinity shows as offering CAD trading is the kraken, which has very low CAD trading volume.

https://bitcoinity.org/markets/kraken/CAD

If I was Canadian I'd trade through a foreign exchange.
Rosewater Foundation
Sr. Member
****
Offline Offline

Activity: 392
Merit: 254



View Profile
April 02, 2018, 01:07:35 AM

Kraken does bank wires in CAD but Quadrigacx used to have all sorts of convenient options that now that I'm in capitulation mode have vanished.

I was busy taking a selfie with my passport when I noticed the damn thing is expired. Undecided
Pages: « 1 ... 19966 19967 19968 19969 19970 19971 19972 19973 19974 19975 19976 19977 19978 19979 19980 19981 19982 19983 19984 19985 19986 19987 19988 19989 19990 19991 19992 19993 19994 19995 19996 19997 19998 19999 20000 20001 20002 20003 20004 20005 20006 20007 20008 20009 20010 20011 20012 20013 20014 20015 [20016] 20017 20018 20019 20020 20021 20022 20023 20024 20025 20026 20027 20028 20029 20030 20031 20032 20033 20034 20035 20036 20037 20038 20039 20040 20041 20042 20043 20044 20045 20046 20047 20048 20049 20050 20051 20052 20053 20054 20055 20056 20057 20058 20059 20060 20061 20062 20063 20064 20065 20066 ... 27285 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!