I just cashed out my lot of Bitcoins for Gold. Here's why.

[johnyj]

The monthly variation has a fairly high beta compared to 12 month rolling, of course.

This chart is interesting, if it is accurate, it means that the sale of government bonds in 2007 triggered the financial crisis, and after that the sentiment changed, they have to buy much more bonds to keep the system alive, and I guess they dare not to sell any government bonds in the foreseeable future

[lophie]

The monthly variation has a fairly high beta compared to 12 month rolling, of course.

This chart is interesting, if it is accurate, it means that the sale of government bonds in 2007 triggered the financial crisis, and after that the sentiment changed, they have to buy much more bonds to keep the system alive, and I guess they dare not to sell any government bonds in the foreseeable future

It is known that ALL the newly printed fiat that is going back to the FED is BEING used to buy more bonds. So it is not about not selling it is about not selling to foreign entities

[NewLiberty]

This chart is interesting, if it is accurate, it means that the sale of government bonds in 2007 triggered the financial crisis, and after that the sentiment changed, they have to buy much more bonds to keep the system alive, and I guess they dare not to sell any government bonds in the foreseeable future

Agreed, They will likely keep them to term.

[molecular]

And it looks nice when worn.....

60% of all gold mined is used in Jewellry.

Bitcoins look nice in my wallet too

I suspect gold is used in jewelry primarily because it is expensive, not even because of its chemical properties. Chemical properties are important too, especially for earrings, but for many other items, I see no particular reason why women would prefer gold & diamonds to plastic & glass. I'm not even sure where this idea that a woman with holes in her ears, and pieces of metal in them, somehow looks 'nicer', is coming from.

There's other options than the ears that have some practical purpose. But rarely gold is used there as far as I can tell.

[Revelation 22:13]

At time of the OP, the price of bitcoin was at $110.

[molecular]

At time of the OP, the price of bitcoin was at $110.

and gold was $1380.

You're surely in the green, but doing only the first part would've been better.

[molecular]

At time of the OP, the price of bitcoin was at $110.

and gold was $1380.

You're surely in the green, but doing only the first part would've been better.

Yeah but let us come back in a year.

Btw i hold btc gold and usd.

Sounds smarter than "wife, house and yacht". But I guess you hold at least some of that, too

[tokeweed]

Short-term:

- Things are crashing hard this Summer. The media bubble has faded. We might see ourselves at $80 again. Even $30.

Long-term:

- Gold is going to recover. Hidden economic trouble is brewing. 'nuff said.

- The NSA has full control of Bitcoin through holes in SHA-256 and DSA that the mass of the public has yet to find. The whole blockchain might find itself worthless within the decade.

It was fun but Bitcoin is going to need a judgement day before cryptocurrency can become mainstream.

Here's my prediction: Bitcoin is going to be blown apart. The price will go to zero by 2020.

To those looking at this from the future: I told you so.


http://www.guardian.co.uk/world/2013/jun/09/nsa-whistleblower-edward-snowden-why

Q: Why did you decide to become a whistleblower?

A: "The NSA has built an infrastructure that allows it to intercept almost everything. With this capability, the vast majority of human communications are automatically ingested without targeting. If I wanted to see your emails or your wife's phone, all I have to do is use intercepts. I can get your emails, passwords, phone records, credit cards.

"I don't want to live in a society that does these sort of things … I do not want to live in a world where everything I do and say is recorded. That is not something I am willing to support or live under."

Q: Is it possible to put security in place to protect against state surveillance?

A: "You are not even aware of what is possible. The extent of their capabilities is horrifying. We can plant bugs in machines. Once you go on the network, I can identify your machine. You will never be safe whatever protections you put in place."

i like the selling your btc part to lock profits.  but your gold prediction part remains to be seen. i hate predictions, especially when nobody really knows whats going on except for the insiders.

btc going to be at zero by 2020?  that's a big maybe. but until then, what will replace btc?  so far nadda. btc is here to stay for now.

[tokeweed]

oh one sign bitcoin is dying is the volume in trading. so far its good.

[bitfromit]

what's the cost to sell a gold coin? I know the dealer spread is disgusting

Where I am I can do that at any bank. That's pretty much the only reason to own gold for me. Spreads are around 10%, 6 for full ounces I think.

i have an online broker who trades gold with a spread of 1.5 usd

buying physical gold ounces at the corner store is for begginers

Ahh. We have a paper gold trader here.