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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804591 times)
Dusty
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May 08, 2012, 11:33:45 AM
 #1041

you gotta learn to think big.  what if gov'ts decide it's in their best interests to adopt Bitcoin?
Now I have to remind you that gov'ts have always had gold (that is the best and hard money) but they invented fiat money expressly for having a money that follows their rules and not the other way around.

Sound money is not in the best interest of gov'ts and I think it's much better to prepare for the moment where all business in btc will be forbidden in some nations.

Articoli bitcoin: Il portico dipinto
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May 08, 2012, 11:36:40 AM
 #1042


Oops.  OK, check now..

College of Bucking Bulls Knowledge
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May 08, 2012, 01:47:12 PM
 #1043

let's not be so negative and instead look at this from a positive perspective:



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May 08, 2012, 02:46:24 PM
 #1044

Wink.  

Everything down today.  ;(

The market, gold, AAPL, BTC.. ;(

Lets blame it on the French!!
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May 08, 2012, 02:48:18 PM
 #1045

Wink.  

Everything down today.  ;(

The market, gold, AAPL, BTC.. ;(

Lets blame it on the French!!

what's the score?
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May 08, 2012, 02:56:01 PM
 #1046

last chance to buy Bitcoin under $5.
Blitz­
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May 08, 2012, 02:58:35 PM
 #1047

last chance to buy Bitcoin under $5.
Final last ultimate chance this time before we never ever go back again?! Grin Grin Grin

I’ll just quote myself from this thread:

Meanwhile, https://bitcointalk.org/index.php?topic=78834.0

(since in the past weeks everyone seems to be freaking out over 10 cent moves whereas the larger picture remains identical)

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 08, 2012, 03:06:11 PM
 #1048

last chance to buy Bitcoin under $5.
Final last ultimate chance this time before we never ever go back again?! Grin Grin Grin

I’ll just quote myself from this thread:

Meanwhile, https://bitcointalk.org/index.php?topic=78834.0

(since in the past weeks everyone seems to be freaking out over 10 cent moves whereas the larger picture remains identical)

you know my theory from the newsletter.  i think it may be so.
Blitz­
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May 08, 2012, 03:10:30 PM
 #1049

I believe it will just gap up a dollar or two within 24h someday, and then we enter a multimonth move.

For now though, the trend of trendlessness continues to rule.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 08, 2012, 03:12:02 PM
 #1050


By my two-second calculations, if about half of the worlds population were using Bitcoin and making 2 transactions per day, a flat average would be about 70,000 transactions per second.  To account for peaks which one typically finds in network service use, better bump that up to about 250,000 transactions/sec.  Then one must consider the potential for DOS attacks.

Contrast this with the .25  (aka 1/4) transactions/sec at the current high.

As currently implemented, Bitcoin scales until it fails then that's all she wrote.  Ultimately I would be more comfortable with a solution which anticipated 'sharding' of some sort, and it seems logical and workable to combine this with a multitude of crypto-currencies each tuned to offer various advantages to their user base.

Of course the 'money changers' would have a hey-day in such an environment, but that fine.  Probably open systems would develop to make things less costly for end-users.  Some guy had a link to such a project a while ago.  I think it was on Docmeister's Bitcoin-2 post.



Vast majority of those 250000 transactions are going to be small transactions that need instant confirmation, which means they will not be handled directly by bitcoin network. There will be a bunch of payment processors who will provide instant confirmation functionality, and use bitcoin network itself to regularly balance the books between themselves.

So the Bitcoin network would rely on independent 'banks' of some sort to offload the accounting to?  Or you believe that it could handle such traffic if it needed to?


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May 08, 2012, 03:16:17 PM
 #1051

I believe it will just gap up a dollar or two within 24h someday, and then we enter a multimonth move.

For now though, the trend of trendlessness continues to rule.

as long as it holds right here that's BULLISH. and then you're right, we'll gap up.
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May 08, 2012, 03:21:38 PM
 #1052

I believe it will just gap up a dollar or two within 24h someday, and then we enter a multimonth move.

For now though, the trend of trendlessness continues to rule.

as long as it holds right here that's BULLISH. and then you're right, we'll gap up.
OK, agreed! Since it would be literally doing higher lows and higher highs (5.48>5.45).

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 08, 2012, 03:23:20 PM
 #1053

asking to have very single transaction on the block chain is like asking to get the cash each time someone buy something with a cc on your store

Asking that the cash you wish to spend be handed over to a quasi-bank-thing which is probably considered illegal and a national security threat by TPTB is like...well...giving your money to 'Tom Williams'.

There is nothing 'wrong' with the solution per-se; It's just not the same thing as the Bitcoin which appealed to me in the early days.


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May 08, 2012, 05:49:07 PM
 #1054


This is a good start.  Sweet!  Now if we can just get to the sub-$25 range in the next month it would be quite handy for me as I need a sink for some USD variety funds.

I'd actually prefer to have more gold than more silver at this point but I'm afraid that the Chinese are going to put in a pretty solid floor above the price which I would consider 'the deal of the day.'

Maybe I'll just buy a new toy instead.  I've always wanted an excavator and have some projects which I could use to justify such a thing...in my mind at least.


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May 08, 2012, 06:00:18 PM
 #1055

Wink.  

Everything down today.  ;(

The market, gold, AAPL, BTC.. ;(

Lets blame it on the French!!

what's the score?

what, you only want to give the score when you want to? Wink
miscreanity
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May 08, 2012, 06:34:42 PM
 #1056

This is monumental - it is the complete separation of paper & physical:
Central Bank Demand to Change Gold, Silver Markets and Prices
tvbcof
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May 08, 2012, 06:35:28 PM
 #1057

Another Score:  5/8/12

          year ago    now       delta mult
BTC     3.64         5.03       + 1.38
Gold    1497         1605      + 1.07


--------------------------
ref (for future updates):
http://bitcoincharts.com/charts/mtgoxUSD#czsg2011-05-08zeg2011-05-08ztgSzm1g10zm2g25zv  (change date)
http://www.kitco.com/charts/livegold.html  (hist cgi at bottom)
mult=now/year_ago

cypherdoc
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May 08, 2012, 06:49:31 PM
 #1058

This is monumental - it is the complete separation of paper & physical:
Central Bank Demand to Change Gold, Silver Markets and Prices

Ben:  "Hmmm, interesting article.  Do I really want to give up my power as THE Central Banker of the World?  Do I want to be known as THE Central Banker who destroyed the greatest country the world has ever seen?  Do I really want to turn power over to Putin, the Chinese, or the Mexicans?   Nah, no more QE.  Let's see if I can take gold back down to $500 and teach these guys a lesson and then we can start over."
silverbox
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May 08, 2012, 08:57:55 PM
 #1059

Wink.  

Everything down today.  ;(

The market, gold, AAPL, BTC.. ;(

Lets blame it on the French!!

what's the score?

what, you only want to give the score when you want to? Wink

I just did it yesterday!

I have a headache Wink
miscreanity
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May 08, 2012, 09:01:22 PM
 #1060

This is monumental - it is the complete separation of paper & physical:
Central Bank Demand to Change Gold, Silver Markets and Prices

Ben:  "Hmmm, interesting article.  Do I really want to give up my power as THE Central Banker of the World?  Do I want to be known as THE Central Banker who destroyed the greatest country the world has ever seen?  Do I really want to turn power over to Putin, the Chinese, or the Mexicans?   Nah, no more QE.  Let's see if I can take gold back down to $500 and teach these guys a lesson and then we can start over."

If that were to happen, purchasing power would be preserved for the USD. However, like the planets in our star system would be if the sun were to go supernova and collapse to a dwarf, the inflationary damage has already been done to nearly every national currency outside of the the US. Should Europe decide to inflate, demand for gold will continue virtually unabated - which seems especially likely now that short-sighted socialism is infesting that part of the world.

With a stable dollar and most, if not all other global currencies in turmoil, good luck getting paper to be readily accepted outside of North America. Germany is mortally fearful of inflation the better part of a century after the Weimar Republic's financial travesty, so to think populations experiencing paper putrescence within their own lifetimes will dance right back to it is simply mistaken.

If it weren't for the countless dynamic threads in play right now, I might see both paper and physical gold potentially declining to 3 digits again. However, I can't agree with you at this point, or we'd both be wrong Smiley

There is no turning back no matter what Bernanke's Fed does. Game over.

As for the article, in relation to paper vs. physical precious metal prices: the real value of gold (and perhaps silver) will be even more obscured than it already is.
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