The Gold Conspiracy, or why breaking 1270 is hard.

[Imahara]

If you are a huuuge holder of gold, you should be afraid of Gold 2.0, and you would not want bitcoin to succeed.
The price behavior around the psychologically important level of the ounce price of gold is starting to look increasingly suspicious.

See the H4 view here:
http://bitcoinwisdom.com/markets/mtgox/btcusd

It is instant sales that are halting the upward trend. Who is trying to block Bitcoin? Which gold holders are making this futile effort? Questions, questions.

Assuming they'll fail, they will have to reverse their short position at some point. They are just building up for a great price rise the minute we pass gold and they give up!

Who agrees?

[tutkarz]

I think it's just weekend consolidation.

[Siegfried]

If you are a huuuge holder of gold, you should be afraid of Gold 2.0, and you would not want bitcoin to succeed.
The price behavior around the psychologically important level of the ounce price of gold is starting to look increasingly suspicious.

See the H4 view here:
http://bitcoinwisdom.com/markets/mtgox/btcusd

It is instant sales that are halting the upward trend. Who is trying to block Bitcoin? Which gold holders are making this futile effort? Questions, questions.

Assuming they'll fail, they will have to reverse their short position at some point. They are just building up for a great price rise the minute we pass gold and they give up!

Who agrees?

Ancient aliens.

[ElectricMucus]

I think there is a much simpler explanation.  Many people probably set gold parity as an investment target, and they are sticking to their plan.
And if you think gold is undervalued it is a good move to diversify now, even if you think Bitcoin would outperform it shortly.

[LiteCoinGuy]

Bitcoin doesnt care.

[GriTBitS]

This is why we are switching from gold to bitcoin.

http://www.abovetopsecret.com/forum/thread554419/pg1

[ElectricMucus]

This is why we are switching from gold to bitcoin.

http://www.abovetopsecret.com/forum/thread554419/pg1

Not bad, but L. Ron Hubbard did better.

[Spaceman_Spiff]

If you are a huuuge holder of gold, you should be afraid of Gold 2.0, and you would not want bitcoin to succeed.
The price behavior around the psychologically important level of the ounce price of gold is starting to look increasingly suspicious.

See the H4 view here:
http://bitcoinwisdom.com/markets/mtgox/btcusd

It is instant sales that are halting the upward trend. Who is trying to block Bitcoin? Which gold holders are making this futile effort? Questions, questions.

Assuming they'll fail, they will have to reverse their short position at some point. They are just building up for a great price rise the minute we pass gold and they give up!

Who agrees?

Ancient aliens.

[ElectricMucus]

I think there is a much simpler explanation.  Many people probably set gold parity as an investment target, and they are sticking to their plan.
And if you think gold is undervalued it is a good move to diversify now, even if you think Bitcoin would outperform it shortly.

I agree with Mucus.

What is the world coming to?

I'm going to curl up in a ball under some covers now and cry myself to sleep.

Lets say you don't know me as well as you thought you do.

[pera]

This is bullshit, it isn't possible to compare the price of bitcoin with the price of 1oz of gold, bitcoin don't have weight seriously wtf are you talking about? the only thing you may compare is the appreciation

also 1 satoshi is millions of times more expensive than 1 atom of gold:

gold atom: $1.44e-20
bitcoin atom: $1.22e-05

 

[smoothie]

When it breaks the gold price it will be like a knife cutting through hot butter.

[KFR]

When it breaks the gold price it will be like a knife cutting through hot butter.

.. with some gold in the middle.  We've slipped back from gold parity a few times now. 

[smoothie]

When it breaks the gold price it will be like a knife cutting through hot butter.

.. with some gold in the middle.  We've slipped back from gold parity a few times now. 

Yup but never really passed it. When we do....KNIFE ON!

[Crazy]

When it breaks the gold price it will be like a knife cutting through hot butter.

Or a hot knife through butter. Whichever I guess

[ElectricMucus]

Seems like a golden knife through frozen butter.

[notme]

When it breaks the gold price it will be like a knife cutting through hot butter.

Or a hot knife through butter. Whichever I guess

Lol.... A cannon ball can easily move through hot butter.

[Crazy]

When it breaks the gold price it will be like a knife cutting through hot butter.

Or a hot knife through butter. Whichever I guess

Lol.... A cannon ball can easily move through hot butter.

Indeed, lol

[pand70]

Can you give us a brief explanation of your theory about how exactly gold holders block bitcoin?
Do they hold massive amounts of bitcoins as well? Doesn't makes sense.

[bitcoin carpenter]

The few gold hoarders I know had never been on the BTC train, but they have called to chat about BTC in the past 2 weeks

[btcprice]

Bitcoin doesnt care.

Bitcoin is the Honey Badger of currencies.