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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805669 times)
miscreanity
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May 08, 2012, 09:08:33 PM
 #1061

I find it particularly telling that the dollar index still can't get a handle above 80 with everything else diving, and the long bond isn't exactly skyrocketing either.
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silverbox
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May 08, 2012, 09:13:39 PM
 #1062

I find it particularly telling that the dollar index still can't get a handle above 80 with everything else diving, and the long bond isn't exactly skyrocketing either.

Its a race to see who can print the fastest Wink 
tvbcof
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May 08, 2012, 09:32:44 PM
 #1063


...

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.

This has always been a simple issue for me.  The price is whatever I can obtain a 1-oz KR for from my dealer.

I'm not sure what metric I'm going to use if the dealer's supply runs out (if I want to be a seller.)  I could imagine worse problems to have...assuming an absence of legal issues which may pop up around ownership and exchange of PMs.


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May 08, 2012, 11:38:43 PM
 #1064

I think it was you who was potentially interested in my 'bakcoin' idea some months ago.  I hacked out some material around that time, but have been off on other completely unrelated interests since and have not touched it.  I'd have to do (much) more work before presenting it as an alternate crypto-currency or whatever, but here's what I've got for those who might be interested:

  http://bakcoin.org

Yes, it was me Smiley

I'll have to revisit the topic again.

...

I mentioned it because your comments seemed to recognize the potential value of merged-mining and 'sharding'.  Both are elements of the 'bakcoin' concepts that I was musing about.

 - snip - different post to consider scalability at some later point in time.


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May 09, 2012, 02:17:03 AM
 #1065

pm's sinking faster and faster now that we've cleared $1600...it will get worse once we clear the December lows...
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May 09, 2012, 02:55:19 AM
 #1066

Bitcoin holding beautifully in the face of this stock/gold/silver/oil/commodity selloff.  We're forming a series of hammers and the oscillators are narrowing preparing for launch.
miscreanity
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May 09, 2012, 03:19:26 AM
 #1067

pm's sinking faster and faster now that we've cleared $1600...it will get worse once we clear the December lows...

It's much the same as what happened during 2008: assets that are still in the green have to be dumped to cover losses. The game of wealth concentration continues - the fearful and leveraged get forced out at a loss, selling directly into the hands of big players under cover of Armageddon.

Meanwhile, physical precious metals demand is higher than ever. Nothing adds up correctly on the paper side. In the race to debase, Euro below $1.25 pushes the Fed to act.
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May 09, 2012, 04:23:28 AM
 #1068

pm's sinking faster and faster now that we've cleared $1600...it will get worse once we clear the December lows...

It's much the same as what happened during 2008: assets that are still in the green have to be dumped to cover losses. The game of wealth concentration continues - the fearful and leveraged get forced out at a loss, selling directly into the hands of big players under cover of Armageddon.

Meanwhile, physical precious metals demand is higher than ever. Nothing adds up correctly on the paper side. In the race to debase, Euro below $1.25 pushes the Fed to act.

no reason to be bitter.  It was predictable according to cycle theory.
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May 09, 2012, 02:01:38 PM
 #1069

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

the headache must be huge about now; btw, what's the score? Wink
Blitz­
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"Cut Your Loose"


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May 09, 2012, 02:02:59 PM
 #1070

the headache must be huge about now; btw, what's the score? Wink
Will be picking up some gold once we get to BTC/AU parity. Grin

"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
cypherdoc
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May 09, 2012, 02:05:32 PM
 #1071

the headache must be huge about now; btw, what's the score? Wink
Will be picking up some gold once we get to BTC/AU parity. Grin

but what if they invert? Grin
Blitz­
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"Cut Your Loose"


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May 09, 2012, 02:06:51 PM
 #1072

the headache must be huge about now; btw, what's the score? Wink
Will be picking up some gold once we get to BTC/AU parity. Grin

but what if they invert? Grin
One thousand ounces for a Bitcoin is fine too. Grin Grin Grin

First step: Silver parity.

"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
silverbox
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May 09, 2012, 02:47:21 PM
 #1073

In the race to debase

lol I like that.
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May 09, 2012, 02:50:20 PM
 #1074

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

the headache must be huge about now; btw, what's the score? Wink

Yeah its getting ugly.  The fed needs to make some noise about QE3 right about now..

The score:

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 5/9

Bitcoin 5.06   (down ~6%)

Gold 1588  (down ~6%)

BTC still isn't up Wink.  Gold is now doing just as badly as BTC.  Its a tie!! Wink

AAPL 563

cypherdoc
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May 09, 2012, 03:47:41 PM
 #1075

In the race to debase

lol I like that.

Wait, wait, wait; i'm the marketer here.  it's:

The Race to Debace.

even if it isn't going to work  Wink
proudhon
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May 09, 2012, 05:05:07 PM
 #1076

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

the headache must be huge about now; btw, what's the score? Wink

Yeah its getting ugly.  The fed needs to make some noise about QE3 right about now..

The score:

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 5/9

Bitcoin 5.06   (down ~6%)

Gold 1588  (down ~6%)

BTC still isn't up Wink.  Gold is now doing just as badly as BTC.  Its a tie!! Wink

AAPL 563



Thanks for the update.
MatthewLM
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May 09, 2012, 05:08:42 PM
 #1077

What do people think to this company? No ordinary mining company, they aim to use undersea mining for metals: http://www.nautilusminerals.com/s/Home.asp

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Kluge
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May 09, 2012, 05:16:22 PM
 #1078

What do people think to this company? No ordinary mining company, they aim to use undersea mining for metals: http://www.nautilusminerals.com/s/Home.asp

Lame. Get to the asteroids, already.

Don't mix your coins someone said isn't legal
tvbcof
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May 09, 2012, 06:04:12 PM
 #1079

What do people think to this company? No ordinary mining company, they aim to use undersea mining for metals: http://www.nautilusminerals.com/s/Home.asp
Lame. Get to the asteroids, already.

I suspect that we'll run out of the energy and capital needed to do undersea mining before we run out of suitable surface reserves.  But I've not studied the abundance and quality of sub-sea deposits.

The most tenable thing seems to me to be nanotechnology to snatch elements of interest out of the environment.  And to build molecules of interest if they are the target.

Next most tenable thing would be to use the effectively unlimited energy supply of nuclear fusion to transmutate elements to the desired ones.

Lastly would be to undertake to try to locate and exploit reserves in outer space.

So, there are some possible modes of significant inflation in a PM based economy.  The all strike me as some distance out, but I keep my eyes open.  The possible failure modes of Bitcoin strike me as a much more significant and immediate concern.


miscreanity
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May 09, 2012, 06:53:48 PM
 #1080

What do people think to this company? No ordinary mining company, they aim to use undersea mining for metals: http://www.nautilusminerals.com/s/Home.asp

I've been following Nautilus for a few years - huge potential, although acquiring permits & rights was a tortuously slow process.

With the amount being brought up, there may be a brief period of real gold value stagnation as the stock to flow ratio changes exceed global economic growth. It won't do anything to disrupt current valuation, though - 5-digit minimum USD value is a foregone conclusion.

Asteroid mining would definitely have a greater impact, but that's at least a decade away. Maybe there'll be a gold cartel, similar to the diamond cartel of today. In fact, I think the diamond cartel has done a much better job of maintaining stability than the Fed or any other central bank...
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