Gold collapsing. Bitcoin UP.

[smoothie]

poor gold:

http://www.zerohedge.com/news/2014-08-20/fomc-minutes-show-many-members-believe-rates-should-rise-sooner

This is baddish for inflation-adjusted bitcoin prices too, no?  Protection from inflation is one of the drivers for bitcoin adoption.
Still, talk is cheap, let's see what they really do.

i used to think that but i've changed my mind.  until i'm proven wrong.

Bitcoin being such a technological revolutionary force for money might actually thrive no matter we get deflation or inflation.  it's supermoney.  as an optimist for the future b/c of technology, a shift to a supermoney like Bitcoin could actually be the cause of deflation of all other assets, which could be a good thing.  a move to sound money will help everyone, not just a select few.

as we see for now, Bitcoin rising in the face of the announcement.  it's TIME.

I agree with cypherdoc... but I would put it more simply. Bitcoin is just very small right now and its behavior/price isn't dominated by macroeconomic trends. Once the it is being used by more than 1% of the world's population, then I think its price will be closely correlated with things like GDP and the relative inflation rates of other currencies.

Bitcoin is tiny right now in comparison to the world's total derivatives markets.

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[cypherdoc]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man. 

GO smoothie GO!!!

[chriswilmer]

I have a soft spot for Litecoin... but I would be wary of holding it if Bitcoin starts uber-rallying.

[cypherdoc]

penetration of the support as called.  plunge incoming:

[Lowryder]

BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.

Would you rather take 30 of these:

http://www.usacoinbook.com/us-coins/gold-bar-1-kilo.jpg

Or 2700BTC?

If you cant take anything in between?

Wow 2700 BTC will comfortably put you in the Validimir club. I'd take that any day of the week

how'd you know all those bars were filled with tungsten?  oh, you didn't?

Of course I didn't. I just assumed they were gold for this thought experiment.

How many of "those" you own?

[smoothie]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man. 

GO smoothie GO!!!

So let's not address what I just posted. Okay moving on...

[cypherdoc]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man.  

GO smoothie GO!!!

So let's not address what I just posted. Okay moving on...

ok, you're serious. (btw, you added that last sentence after i responded  )

let me define what i think of as "everything" --> stocks, bonds, oil, gold, silver, soft commodities, and some fiat currencies.

i DON"T include Litecoin or any of the alts unless i specify them.

[cypherdoc]

jam the shorts, baby.

[cypherdoc]

Dear Shorts,

it's only going to get worse when that little green line turns UP.

Sincerely,

cypherdoc

[smoothie]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man.  

GO smoothie GO!!!

So let's not address what I just posted. Okay moving on...

ok, you're serious. (btw, you added that last sentence after i responded  )

let me define what i think of as "everything" --> stocks, bonds, oil, gold, silver, soft commodities, and some fiat currencies.

i DON"T include Litecoin or any of the alts unless i specify them.

Ok so it is "everything". Gotcha.  

[smoothie]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man. 

GO smoothie GO!!!

Looks like you quoted it for you to preview before posting it. Thanks for clarifying what "everything" is and isn't. How can one assume it doesn't include Alts when you appear to discuss them on a daily basis in this very thread? 

[Chalkbot]

Where does this chart come from?

[cypherdoc]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man.  

GO smoothie GO!!!

Looks like you quoted it for you to preview before posting it. Thanks for clarifying what "everything" is and isn't. How can one assume it doesn't include Alts when you appear to discuss them on a daily basis in this very thread?  

first off, you know you added that last line after you originally posted it.  when i read it, that line wasn't there.  when i clicked to quote you, you must've just added it, and i posted my response w/o seeing your added line with it's implied annoyance.  very simple explanation.  otherwise, i would've addressed that annoyance straight off as opposed to later on down the thread.  

[cypherdoc]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man. 

GO smoothie GO!!!

Looks like you quoted it for you to preview before posting it. Thanks for clarifying what "everything" is and isn't. How can one assume it doesn't include Alts when you appear to discuss them on a daily basis in this very thread? 

and as for "everything", i'd bet 10 USD that i used the term for just those assets as i defined them back when you were subbed to my letter.  there's no inconsistency.  i'll try to be clearer next time.

[Torque]

Amagi Metals to stop accepting dollars, only crypto!  That's friggin' bullish as hell!

https://www.amagimetals.com/info/no-dollars-after-2016/

[cypherdoc]

Amagi Metals to stop accepting dollars, only crypto!  That's friggin' bullish as hell!

https://www.amagimetals.com/info/no-dollars-after-2016/

holy crap.  that is amazing!

[molecular]

Dear Shorts,

it's only going to get worse when that little green line turns UP.

Sincerely,

cypherdoc

calculated at current price, that "little green line" is still 5 times higher than the red one.

[molecular]

Where does this chart come from?

http://www.bfxdata.com/combined/btc.php

[molecular]

Amagi Metals to stop accepting dollars, only crypto!  That's friggin' bullish as hell!

https://www.amagimetals.com/info/no-dollars-after-2016/

what... tha... fuck...!

Bitcoin now accounts for over 40% of the company’s customer payments.

wow.



this needs to spread!

EDIT: haha, just read about the ceos (Stephen Macaskill) bet with Schiff:

https://www.amagimetals.com/info/ceo-of-amagi-metals-makes-a-bet-with-peter-schiff/

Amagi’s CEO, Stephen Macaskill, approached Peter Schiff during the Q&A segment of the event and asked him to join in on a bet. Macaskill believes that Bitcoin will outpace gold in the next five years, in relation to how much gold Bitcoin can buy (ie: today 1 BTC buys about a 1/2 ozt. of gold…in 5 years it will buy much more). Schiff agreed to the bet that will cost the loser 1 Bitcoin*, assuring our CEO that the price of Bitcoin will eventually plummet. In the background a familiar voice called out to Schiff saying, “You might be making a risky bet Peter.” That voice was The Dollar Vigilante, himself, Jeff Berwick who continually speaks of the bright future of Bitcoin.

was probably posted here, but I skip stuff, sorry for repeat

[cypherdoc]

anyone care to summarize how big/important Amagi is in the pm space?  never dealt with them before...