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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1978426 times)
sidhujag
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August 12, 2014, 12:58:09 AM
 #10461

Hey look!

Dow goes up, Dow goes down,  gold goes up, gold goes down. Meanwhile;

Bitcoin goes UP!

Chart I'm looking at has BTC trending down for a month.  The bad news, though, is that the imbalance is heavy on the supply side.  At this point I'll be surprised to see a selling opportunity which works for me in 2014, and not at all surprised to seen some significant downside in the intrim.  Oh well.



LTC didnt reach target for me means its dragging it all down. Physcologically we are not ready for the next uptick, for me, until that level is tested, unless we go up and then come crash down later on which is not bullish long term... anyways just what worked for me in trading forex over the years... you build up an intuition of levels that must test before the real trend resumes. Something you cant really teach.

LTC going for it!

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sidhujag
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August 12, 2014, 04:32:27 AM
 #10462

gold market backwardation happening, weee free money!

http://economictimes.indiatimes.com/wealth/savings-centre/analysis/art-cashin-traders-are-talking-about-a-gold-conspiracy-theory-and-theres-evidence-to-back-it-up/articleshow/40051092.cms

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cypherdoc
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August 12, 2014, 06:30:06 AM
 #10463

watching youtube videos of cpu miners back in 2011 gave me the same sense of inevitability:

That even if someone wanted to bring down bitcoin, they’d have to outdo these guys and the dozens of other operations like this around the world. The decentralized nature of it all… that this is just one operation among many, run by different operators in different countries around the world. This really drove home that bitcoin can’t be killed by decree. Make it illegal in one country and people like this will keep hashing away in others.

http://www.thecoinsman.com/2014/08/bitcoin/inside-chinese-bitcoin-mine/

The first Bitcoin mining video I seen in 2011 was Mike Caldwell with his FOUR 5970's mining. I never seen CPU mining on youtube ever in 2011.

You got links?

maybe not.  i started looking at them sometime around Jan 2011.  many of those videos aren't on youtube anymore.  but you're right, the gpu revolution was starting about that time.
solex
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August 12, 2014, 06:51:03 AM
 #10464

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

cypherdoc
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August 12, 2014, 06:55:04 AM
 #10465

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest. 

money is not a game. it will make ppl not only happy, but very sad.  looks to me like all the fun has worn off.  now it's time for the pain and sorrow.
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August 12, 2014, 11:34:49 AM
 #10466

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest. 

money is not a game. it will make ppl not only happy, but very sad.  looks to me like all the fun has worn off.  now it's time for the pain and sorrow.

Couldn't agree more. Those that manage to discover crypto only to invest in DOGE .... well, they should be a little ashamed of themselves.

marcus_of_augustus
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August 12, 2014, 12:03:23 PM
 #10467

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest. 

money is not a game. it will make ppl not only happy, but very sad.  looks to me like all the fun has worn off.  now it's time for the pain and sorrow.

who could a known??
Dogecoin was a dog investment ... Roll Eyes

cypherdoc
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August 12, 2014, 12:29:26 PM
 #10468

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest. 

money is not a game. it will make ppl not only happy, but very sad.  looks to me like all the fun has worn off.  now it's time for the pain and sorrow.

Couldn't agree more. Those that manage to discover crypto only to invest in DOGE .... well, they should be a little ashamed of themselves.

MOST of the ppl investing in crypto currencies are going to lose money.
Spaceman_Spiff
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August 12, 2014, 01:02:54 PM
 #10469

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest.  

Indeed, too bad you can't short it (as far as I am aware).
EDIT: the volatility spikes could be killers too for margin calls, depending on how the exchange would handle them.
HarmonLi
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Honest 80s business!


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August 12, 2014, 01:22:24 PM
 #10470

Bitcoin is experiencing waves of up and downs all the time, as Gold. But in the case of Gold those waves remain at the same levels. Bitcoin gets to all new heights. I think it's better to stick with our favourite crypto-currency!

cypherdoc
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August 12, 2014, 03:53:33 PM
 #10471

Bitcoin is experiencing waves of up and downs all the time, as Gold. But in the case of Gold those waves remain at the same levels. Bitcoin gets to all new heights. I think it's better to stick with our favourite crypto-currency!

Yep, bears have to try harder.

In order to get any true selling going they have to get it to below 554.
cypherdoc
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August 12, 2014, 04:05:54 PM
 #10472

This looks to be really good. We need to hear more from Sclichter;

http://detlevschlichter.com/book/prologue/
cypherdoc
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August 12, 2014, 04:34:28 PM
 #10473

so true:

“This is a political, careerist power grab on Ben Lawsky’s part and he needs to be held accountable for distracting the bitcoin community from productive efforts. Every minute spent arguing about government regulations is a minute not spent innovating and pushing the world forward.”

    “Ben Lawsky thinks he has a right to interfere with the natural evolution of block chain technology. He and everyone like him need to be shown the error of their ways, and held accountable for slowing our progress.”


http://www.coindesk.com/new-york-bitlicense-views-inside-bitcoin-industry/
cypherdoc
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August 12, 2014, 04:47:10 PM
 #10474

now i finally understand our CFPB:

"The $19.4 trillion sitting in personal retirement accounts like the 401K may be too tempting an apple for a government that is quite broke, both monetarily and morally.  The U.S. Consumer Financial Protection Bureau director Richard Cordray recently mentioned these accounts in a recent interview, stating “That’s one of the things we’ve been exploring and are interested in, in terms of whether and what authority we have.”

http://communities.washingtontimes.com/neighborhood/politics-blue-collar/2013/feb/3/your-401k-about-be-nationalized/
cypherdoc
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August 12, 2014, 05:13:50 PM
 #10475

here's one i was going to pass over.  another old dude that gets it.  he actually taught me something:

"Capitalism is deflationary".

https://www.youtube.com/watch?v=V9hb0EKAcro&feature=youtu.be
cypherdoc
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August 12, 2014, 05:18:04 PM
 #10476

silver leading:

cypherdoc
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August 12, 2014, 05:37:59 PM
 #10477

Break out the lube, boys  Kiss

when traderCJ speaks, _________ .

ans: BUY
vuduchyld
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August 12, 2014, 06:45:35 PM
 #10478

now i finally understand our CFPB:

"The $19.4 trillion sitting in personal retirement accounts like the 401K may be too tempting an apple for a government that is quite broke, both monetarily and morally.  The U.S. Consumer Financial Protection Bureau director Richard Cordray recently mentioned these accounts in a recent interview, stating “That’s one of the things we’ve been exploring and are interested in, in terms of whether and what authority we have.”

http://communities.washingtontimes.com/neighborhood/politics-blue-collar/2013/feb/3/your-401k-about-be-nationalized/

I don't know about that.  Sounds like it is possible, if not probable, that the reporter took a quote completely out of context.  Cordray was likely ruminating on whether or not the CFPB had authority to protect (possibly insure or even educate people about) those assets.  It's a massive, massive jump from that to nationalizing them.

Technically, I suppose the gubmint could borrow against those funds, if the account holders voluntarily bought US treasuries.  I'd be more inclined to think they might incent that before they actually GRAB those funds from people involuntarily.
Bagatell
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August 12, 2014, 06:59:04 PM
 #10479

IMF just snuck out a new wealth tax proposal/idea

https://bitcointalk.org/index.php?topic=677032.msg7669824#msg7669824
tvbcof
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August 12, 2014, 07:00:19 PM
 #10480

now i finally understand our CFPB:

"The $19.4 trillion sitting in personal retirement accounts like the 401K may be too tempting an apple for a government that is quite broke, both monetarily and morally.  The U.S. Consumer Financial Protection Bureau director Richard Cordray recently mentioned these accounts in a recent interview, stating “That’s one of the things we’ve been exploring and are interested in, in terms of whether and what authority we have.”

http://communities.washingtontimes.com/neighborhood/politics-blue-collar/2013/feb/3/your-401k-about-be-nationalized/

I don't know about that.  Sounds like it is possible, if not probable, that the reporter took a quote completely out of context.  Cordray was likely ruminating on whether or not the CFPB had authority to protect (possibly insure or even educate people about) those assets.  It's a massive, massive jump from that to nationalizing them.

Technically, I suppose the gubmint could borrow against those funds, if the account holders voluntarily bought US treasuries.  I'd be more inclined to think they might incent that before they actually GRAB those funds from people involuntarily.

I'd be shocked to not see heavy means testing for retirement dispensations within the next few decades.  Appropriation of retirement accounts would be the 'cleanest' way to implement such a thing in a workable manner.


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