Gold collapsing. Bitcoin UP.

[cypherdoc]

bitcoin down, gold up?

ya i think gold has gone from about 1200 to 1300 this yr... bitcoin from about 1200 to 500

Yep. I think there are lots of people who put much credence on the bit licenses. Personally. I think they're mouth breathers, but I've been wrong before.

+1 to traderCJ  for now.

[1714207681]

1714207681

[cypherdoc]

It's a good thing I've saved lots of ammunition.

The entire world is filled with ammunition.

[vuduchyld]

It's a good thing I've saved lots of ammunition.

The entire world is filled with ammunition.

I'm right there with ya!  (Got off a couple of shots this morning!)

[bucktotal]

bitcoin down, gold up?

ya i think gold has gone from about 1200 to 1300 this yr... bitcoin from about 1200 to 500

Yep. I think there are lots of people who put much credence on the bit licenses. Personally. I think they're mouth breathers, but I've been wrong before.

+1 to traderCJ  for now.

well, similar to previous times, we needed some *news/reason (TM) to get some panic selling. As i had predicted/hoped (TM) in a speculative post a month ago, we touched the 365 day MA again... (thanks gaiz!) so i'm all out of fiat as i loaded up yesterday.

(we may continue the growth now imo, )

[cypherdoc]

bitcoin down, gold up?

ya i think gold has gone from about 1200 to 1300 this yr... bitcoin from about 1200 to 500

Yep. I think there are lots of people who put much credence on the bit licenses. Personally. I think they're mouth breathers, but I've been wrong before.

+1 to traderCJ  for now.

well, similar to previous times, we needed some *news/reason (TM) to get some panic selling. As i had predicted/hoped (TM) in a speculative post a month ago, we touched the 365 day MA again... (thanks gaiz!) so i'm all out of fiat as i loaded up yesterday.

(we may continue the growth now imo, )

yeah, it's not uncommon to get a throw under support to flush out the last remaining weak hands.  554 was such a tempting target for bears...

[cypherdoc]

just a little reminder.  10y charts:

GDXJ


GDX


Gold


Silver


devastation

[cypherdoc]

my biggest fault is underestimating just how stupid ppl can be.  as long as the protocol is intact, Bitcoin is good.  every day that goes by w/o a hack or major bug strengthens the cause and message.

[justusranvier]

my biggest fault is underestimating just how stupid ppl can be.  as long as the protocol is intact, Bitcoin is good.  every day that goes by w/o a hack or major bug strengthens the cause and message.

As far as I'm concerned, Bitcoin is fine at this price since I don't rely on trading or speculation for income.

Thanks to Bitcoin, my income is location-independent. My savings are also location-independent and not remotely confiscatable.

Low exchange rates means my income has increased if I use Bitcoin as my unit of account (which I do).

[cypherdoc]

my biggest fault is underestimating just how stupid ppl can be.  as long as the protocol is intact, Bitcoin is good.  every day that goes by w/o a hack or major bug strengthens the cause and message.

As far as I'm concerned, Bitcoin is fine at this price since I don't rely on trading or speculation for income.

Thanks to Bitcoin, my income is location-independent. My savings are also location-independent and not remotely confiscatable.

Low exchange rates means my income has increased if I use Bitcoin as my unit of account (which I do).

yeah, most of the trolls around here don't realize that they'd have to take the price down to single digits to inflict any losses on to many of us.  if it just stayed where it is today, many of us could retire tomorrow.

[cypherdoc]

looks to me that Schiff and Rickards have entered their own echo chamber out of necessity; they're the only ones left.

https://www.youtube.com/watch?v=ImqxhaPyLEo

[wachtwoord]

my biggest fault is underestimating just how stupid ppl can be.  as long as the protocol is intact, Bitcoin is good.  every day that goes by w/o a hack or major bug strengthens the cause and message.

As far as I'm concerned, Bitcoin is fine at this price since I don't rely on trading or speculation for income.

Thanks to Bitcoin, my income is location-independent. My savings are also location-independent and not remotely confiscatable.

Low exchange rates means my income has increased if I use Bitcoin as my unit of account (which I do).

yeah, most of the trolls around here don't realize that they'd have to take the price down to single digits to inflict any losses on to many of us.  if it just stayed where it is today, many of us could retire tomorrow.

Taking the price to any price won't inflict losses (or gains) as long as people don't sell at those prices. Paper losses people. All they can do is reduce your liquidity temporarily.

[justusranvier]

most of the trolls around here don't realize that they'd have to take the price down to single digits to inflict any losses on to many of us.  if it just stayed where it is today, many of us could retire tomorrow.

I think the trolls realize that Bitcoin is a war of secession and are working for the other team.

http://www.informationweek.com/security/client/air-force-seeks-fake-online-social-media/229219056

This isn't some game - we're taking direct aim at their paychecks, perks, and pensions and they aren't going to just give those up without a fight.

[cypherdoc]

[cypherdoc]

most of the trolls around here don't realize that they'd have to take the price down to single digits to inflict any losses on to many of us.  if it just stayed where it is today, many of us could retire tomorrow.

I think the trolls realize that Bitcoin is a war of secession and are working for the other team.

http://www.informationweek.com/security/client/air-force-seeks-fake-online-social-media/229219056

This isn't some game - we're taking direct aim at their paychecks, perks, and pensions and they aren't going to just give those up without a fight.

they've been here since at least 2011 when it went to 32.  their desperation even then was palpable.

[justusranvier]

they've been here since at least 2011 when it went to 32.  their desperation was palpable.

Speaking of desperation, I hear the mood isn't all great at Defcon this year.

Nihilism, indifference, maybe even a hint of despair.

Perhaps not coincidentally, there are no Bitcoin talks at defcon this year.

How absurd is that? The hands down most interesting thing happening in the tech world right now and not one word about it at Defcon.

[wachtwoord]

they've been here since at least 2011 when it went to 32.  their desperation was palpable.

Speaking of desperation, I hear the mood isn't all great at Defcon this year.

Nihilism, indifference, maybe even a hint of despair.

Perhaps not coincidentally, there are no Bitcoin talks at defcon this year.

How absurd is that? The hands down most interesting thing happening in the tech world right now and not one word about it at Defcon.

Defcon in 2014 with no talks on Bitcoin is an anti-commercial for the event.

[cypherdoc]

looks to me that Schiff and Rickards have entered their own echo chamber out of necessity; they're the only ones left.

https://www.youtube.com/watch?v=ImqxhaPyLEo

they talk about Bitcoin @ 22:00

[cypherdoc]

looks to me that Schiff and Rickards have entered their own echo chamber out of necessity; they're the only ones left.

https://www.youtube.com/watch?v=ImqxhaPyLEo

they talk about Bitcoin @ 22:00

it's amazing that Rickards can't see the hypocrisy in his own arguments against Bitcoin.  he's critical that Bitcoin isn't yet a unit of account.  but what about gold?  how does everyone refer to their gold values?  oh yeah, same way, in USD's!  also, he's critical of the capital gains ruling against Bitcoin.  well, what about gold again?  oh, it's tax tx is even worse as a collectible or as personal income depending on your income bracket.  he also criticizes that Bitcoiners may tax dodge, while ignoring that a fundamental property of Bitcoin is that it makes it easier to do so if one wishes compared to gold.  that's not a fault of Bitcoin, it's a fault of the owner.

Schiff still thinks it's a tulip mania destined to crash.  not sure how this squares with what Tucker claims he said.  but why should 1200 or so be a ceiling for Bitcoin when gold went to 1923 at it's peak?  what's a share of Berkshire Hathaway stock priced at?

amazingly shallow analysis.

[molecular]

4.5.  we’re seeing one after another of former staunch gold bugs convert:  Turk, Schiff, Rogers, and possibly Casey and Rickards.  the momentum is clear.  they will be running to Bitcoin soon.

Schiff and Rickards? According to this video they haven't come around at all. They bash it quite hard to be honest.

One might say: they're acquiring and will openly come around when they have their stash... I'm not sure about that.

[Chalkbot]

4.5.  we’re seeing one after another of former staunch gold bugs convert:  Turk, Schiff, Rogers, and possibly Casey and Rickards.  the momentum is clear.  they will be running to Bitcoin soon.

Schiff and Rickards? According to this video they haven't come around at all. They bash it quite hard to be honest.

One might say: they're acquiring and will openly come around when they have their stash... I'm not sure about that.

Don't these guys essentially get paid to say what gold bugs want to hear? I would not assume that they believe anything they are spewing. It would be interesting to see how they actually allocate their personal finances.