Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[gizmoh]

Hmmm... 10BTCs it is then... Someone is buying old assets

How do i tell if it's real gold?  

That's why btc is better, it cannot be counterfeited

http://www.zerohedge.com/news/2012-09-23/gold-counterfeiting-goes-viral-10-tungsten-filled-gold-bars-are-discovered-manhattan

[justusranvier]

It says it right on the bar: 'fine gold'.

LOL but if i was a noob and i was buying it, who would i trust? how would i check quickly for myself

Here is a way:

You weigh it (on an accurate scale), than you measure the volume by putting it into a finely graded  measuring cylinder with some water. Note the increase in volume when adding the gold bar. The volume for one kg gold should be 51.86 cubic centimeters (ml).

...then cut it in half to make sure it's not gold-plated tungsten.

[Vycid]

It says it right on the bar: 'fine gold'.

LOL but if i was a noob and i was buying it, who would i trust? how would i check quickly for myself

Here is a way:

You weigh it (on an accurate scale), than you measure the volume by putting it into a finely graded  measuring cylinder with some water. Note the increase in volume when adding the gold bar. The volume for one kg gold should be 51.86 cubic centimeters (ml).

This method is easily defeated with gold-coated tungsten alloy. Like I said, portable XRF.

Edit: damn it justusranvier, you're quick on the trigger 

[seanneko]

...then cut it in half to make sure it's not gold-plated tungsten.

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

[rpietila]

There is also the chance they bought their own walls to induce momentum.

Anyone with more bitcoins than 1,000 is cautious of the rise, and scheming to keep the price in check to solidify their own position in the real world. (Anyone with <1,000 coins does not have walls)

[Vycid]

...then cut it in half to make sure it's not gold-plated tungsten.

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

Fairly simple XRF + thermal conductivity + resistivity tests will completely guarantee that a bar of gold is what it says on the face. For extra paranoia there's more complex ultrasonic testing.

[TiagoTiago]

Would a fake bar of gold ring different than a real one when tapped with a little hammer?

[Vycid]

Would a fake bar of gold ring different than a real one when tapped with a little hammer?

Tungsten bulk longitudinal speed of sound: 5220 m/s
Gold bulk longitudinal speed of sound: 3240 m/s

I'm going with "yes".

[NewLiberty]

Looks like China is still setting the tone for this valuation. Kinda funny actually.

Fiat restriction creates demand.
How to get wealth out of China except bitcoin?

[alexeft]

There is also the chance they bought their own walls to induce momentum.

Anyone with more bitcoins than 1,000 is cautious of the rise, and scheming to keep the price in check to solidify their own position in the real world. (Anyone with <1,000 coins does not have walls)

Yeah!! They drive their cars forward while looking back!!!! 

[alexeft]

just needed to re-post it ...

Me too!!!

[philip2000uk]

It says it right on the bar: 'fine gold'.

LOL but if i was a noob and i was buying it, who would i trust? how would i check quickly for myself

Here is a way:

You weigh it (on an accurate scale), than you measure the volume by putting it into a finely graded  measuring cylinder with some water. Note the increase in volume when adding the gold bar. The volume for one kg gold should be 51.86 cubic centimeters (ml).

Cool thanks, not that i can buy one yet lol 

[philip2000uk]

...then cut it in half to make sure it's not gold-plated tungsten.

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

Fairly simple XRF + thermal conductivity + resistivity tests will completely guarantee that a bar of gold is what it says on the face. For extra paranoia there's more complex ultrasonic testing.

Thanks guys, I was always interested for real when and if one day gold would be needed but there's bitcoin now

[BitPirate]

...then cut it in half to make sure it's not gold-plated tungsten.

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

Fairly simple XRF + thermal conductivity + resistivity tests will completely guarantee that a bar of gold is what it says on the face. For extra paranoia there's more complex ultrasonic testing.

Thanks guys, I was always interested for real when and if one day gold would be needed but there's bitcoin now

If someone is desperate to sell it to you for bitcoin, it is probably real. Gold isn't doing too well at the moment.

If they don't care too much, it's probably fake.

[MahaRamana]

...then cut it in half to make sure it's not gold-plated tungsten.

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

Fairly simple XRF + thermal conductivity + resistivity tests will completely guarantee that a bar of gold is what it says on the face. For extra paranoia there's more complex ultrasonic testing.

Thanks guys, I was always interested for real when and if one day gold would be needed but there's bitcoin now

If someone is desperate to sell it to you for bitcoin, it is probably real. Gold isn't doing too well at the moment.

If they don't care too much, it's probably fake.

Gold isn't doing well mostly due to manipulation from the people who derive power from fiat emission and control. Mostly the families that own the banks and the fed.
They will probably come for bitcoin soon but manipulation will be much more difficult. They could buy lots of coins creating a spike and then dumping everything recklessly and crashing it, but I am not sure of their success. Gold is much easier to manipulate and discourage.

[ChartBuddy]

[rpietila]

They will probably come for bitcoin soon but manipulation will be much more difficult. They could buy lots of coins creating a spike and then dumping everything recklessly and crashing it, but I am not sure of their success.

I am quite sure. It will be an utter failure, mostly for the reason that bitcoin would become public to all, and no matter how much short term damage they can cause, it will not be able to be kept down for long because its real network value is 1000x the exchange value. Only way they could wreak some havoc is by buying all the way to up, I mean 10,000x the current price, and then dumping it to the masses. But even that would be a win to Bitcoin. Everybody would use it from that on, and people who trusted in banks would have been made poor, and the independent thinkers enriched.

[NUFCrichard]

...then cut it in half to make sure it's not gold-plated tungsten.

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

Fairly simple XRF + thermal conductivity + resistivity tests will completely guarantee that a bar of gold is what it says on the face. For extra paranoia there's more complex ultrasonic testing.

Thanks guys, I was always interested for real when and if one day gold would be needed but there's bitcoin now

If someone is desperate to sell it to you for bitcoin, it is probably real. Gold isn't doing too well at the moment.

If they don't care too much, it's probably fake.

Gold isn't doing well mostly due to manipulation from the people who derive power from fiat emission and control. Mostly the families that own the banks and the fed.
They will probably come for bitcoin soon but manipulation will be much more difficult. They could buy lots of coins creating a spike and then dumping everything recklessly and crashing it, but I am not sure of their success. Gold is much easier to manipulate and discourage.

Gold is safe, bitcoin isn't.  Its amazing that 1 bitcoin can buy an ounce of gold, but no one can put a fair price estimate on Bitcoin.  It's either hundreds of thousands or nothing.  
Even the crazy Gold bubble looks like a blip next to Bitcoins rise!  If bitcoin holders get a bit antsy about the price, they could do much worse than getting into Gold or Silver

[MahaRamana]

...then cut it in half to make sure it's not gold-plated tungsten.

Beat me to it. This is why I'd never buy a precious metal, especially gold. How can you ever be sure it's real?

Fairly simple XRF + thermal conductivity + resistivity tests will completely guarantee that a bar of gold is what it says on the face. For extra paranoia there's more complex ultrasonic testing.

Thanks guys, I was always interested for real when and if one day gold would be needed but there's bitcoin now

If someone is desperate to sell it to you for bitcoin, it is probably real. Gold isn't doing too well at the moment.

If they don't care too much, it's probably fake.

Gold isn't doing well mostly due to manipulation from the people who derive power from fiat emission and control. Mostly the families that own the banks and the fed.
They will probably come for bitcoin soon but manipulation will be much more difficult. They could buy lots of coins creating a spike and then dumping everything recklessly and crashing it, but I am not sure of their success. Gold is much easier to manipulate and discourage.

Gold is safe, bitcoin isn't.  Its amazing that 1 bitcoin can buy an ounce of gold, but no one can put a fair price estimate on Bitcoin.  It's either hundreds of thousands or nothing.  
Even the crazy Gold bubble looks like a blip next to Bitcoins rise!  If bitcoin holders get a bit antsy about the price, they could do much worse than getting into Gold or Silver

I agree that gold and silver are safer. At least as safe as your own physical safe !
But I don't think the run of gold to 1900 USD was a bubble at all.

[Rampion]

There is also the chance they bought their own walls to induce momentum.

Anyone with more bitcoins than 1,000 is cautious of the rise, and scheming to keep the price in check to solidify their own position in the real world. (Anyone with <1,000 coins does not have walls)

This is funny. When I started to trade actively (January this year) a "wall" was +20k coins. Now 500 coins is considered a "wall". When and if we hit 5 figures, 50 BTC will be considered a "wall". Funny indeed