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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805785 times)
_mr_e
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September 08, 2014, 03:08:10 PM
 #11741

coiling. we're gonna get another pop off.

the Bitstamp Bears are gonna get hurt.

Maybe If you keep calling it you'll be right one day!

Remind me not to help you anymore despite you being a former sub.

No worries about this dip. yep,  cheap coins along with the bigger purpose:  kill off Bitcoin competitors.

Wasn't trying to be an ass. I know it's going up eventually too, you just can't keep constantly saying this is it it's going up followed by consistent drops, only to say you were right when it goes up:P No need to take it personally, I really appreciate everything you've done for me and on this thread.
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cypherdoc
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September 08, 2014, 03:51:36 PM
 #11742

coiling. we're gonna get another pop off.

the Bitstamp Bears are gonna get hurt.

Maybe If you keep calling it you'll be right one day!

Remind me not to help you anymore despite you being a former sub.

No worries about this dip. yep,  cheap coins along with the bigger purpose:  kill off Bitcoin competitors.

Wasn't trying to be an ass. I know it's going up eventually too, you just can't keep constantly saying this is it it's going up followed by consistent drops, only to say you were right when it goes up:P No need to take it personally, I really appreciate everything you've done for me and on this thread.

i never brag about how i was right, unsolicited.  at least i don't think so and if i did i really shouldn't have.  i will quote my gold and silver sales in the past only to make a point on the bigger picture.  i may be arrogant (i'd prefer convicted) but i'm not full of myself.  there is a difference.

realdope
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September 08, 2014, 03:55:24 PM
 #11743

Metals are a pain in the ass to transport, dinosaur money, undivisible. Just buy BTC already you freaks.
cypherdoc
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September 08, 2014, 03:57:03 PM
 #11744

gold getting shellacked.

there's a huge clue here if you're willing to see it.  i've already pointed out convincingly how gold has failed to curb the excesses of the Fed in controlling interest rates.  now, what you're seeing, is gold failing to act as a hedge against geopolitical disruptions and even maybe war.  this further supports my contention that 9/2011 was the top of gold's 9yr cycle and we will only see more downside. 

i still see deflation occurring on a macroeconomic basis.  the real question for us Bitcoiners is will Bitcoin continue to decline along with gold?  i seriously doubt it.  it's too young and the upside potential is too great.  we're at the end of a 9 mo bear cycle, imo, and soon you will see Bitcoin diverge from gold in any upward direction.  you just need to be patient. 
keithers
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September 08, 2014, 03:59:04 PM
 #11745

It is probably becoming another good time to purchase precious metals.   In the long term, there is almost no logical way that precious metals will not appreciate.   As the USD (and other currencies) get further and further inflated, precious metals will have to go up (hopefully along with BTC)
cypherdoc
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September 08, 2014, 04:00:28 PM
 #11746

oh Lordy:

cypherdoc
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September 08, 2014, 04:01:31 PM
 #11747

It is probably becoming another good time to purchase precious metals.   In the long term, there is almost no logical way that precious metals will not appreciate.   As the USD (and other currencies) get further and further inflated, precious metals will have to go up (hopefully along with BTC)

gold can't go up while we're experiencing deflation and especially when the USD is ramping.
cypherdoc
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September 08, 2014, 04:02:27 PM
 #11748

It is probably becoming another good time to purchase precious metals.   In the long term, there is almost no logical way that precious metals will not appreciate.   As the USD (and other currencies) get further and further inflated, precious metals will have to go up (hopefully along with BTC)

here you go.  gold, no way:

cypherdoc
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September 08, 2014, 04:04:16 PM
 #11749

https://twitter.com/cypherdoc2/status/509009258772717568
cypherdoc
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September 08, 2014, 04:10:40 PM
 #11750

what we should see here first, before Wall St's arrival, is a RunToBitcoin from the goldbugs.  then the big Wall St rush will come.
cypherdoc
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September 08, 2014, 04:12:37 PM
 #11751

are we putting in a reversal candle today?

cypherdoc
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September 08, 2014, 04:17:20 PM
 #11752

i'm convinced gold is heading lower.  this is why i have my Bitcoin longs hedged with gold and silver shorts.  this is taking the pain out of the current Bitcoin decline. 

if Bitcoin turns up, i'll be hitting on both cylinders.
cypherdoc
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September 08, 2014, 04:24:19 PM
 #11753

Paypal adding Bitcoin?  this is huge:

https://www.youtube.com/watch?v=pF7HxLCFMeY&feature=youtu.be&t=8s
cypherdoc
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September 08, 2014, 04:32:06 PM
 #11754

Hammer Time
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September 08, 2014, 04:32:31 PM
 #11755

silver back under 19
damnek
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September 08, 2014, 04:32:36 PM
 #11756


If I remember it right, Wordpress accepting bitcoin killed the decline around November 2012 and sparked a major rally. Are we seeing the same thing play out now but on a larger scale?

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FNG
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September 08, 2014, 04:35:02 PM
 #11757

i'm convinced gold is heading lower.  this is why i have my Bitcoin longs hedged with gold and silver shorts.  this is taking the pain out of the current Bitcoin decline. 

if Bitcoin turns up, i'll be hitting on both cylinders.
All of it hedged? Scary thought. So much value will flow from the USD into un-printable assets (Gold and BTC)
Chalkbot
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September 08, 2014, 04:35:22 PM
 #11758

So, if we ignore for a minute, the properties of gold that make it less attractive than bitcoin, and purely focus on the limited nature of each one; Why isn't gold acting as a store of value in a QE economy? Why is it not guaranteed profit to take out a huge low interest loan, and buy gold?

If there is an answer to that, why doesn't it apply to bitcoin?

Gold truly is the barbarous relic. It can be shorted to hell with naked contracts (big banks can sell what they don't own) and it is very inefficient in the digital age. How can it compete with instant and cheap value transfers like bitcoin (for which naked short selling does not currently exist)?

As we've said before, bitcoin is assuming the position historically held by gold. Bitcoin is Gold's Black Swan. Just remember to take possession of your private keys.

Appreciate the response Steve. To delve a little deeper, I realize that gold is a "barbarous relic" and inconvenient to use, which is why I was ignoring those facets for this particular comparison. Surely a clumsy, less efficient, hassle of a commodity will still rise in value relative to a paper currency issued in unlimited supply?

If naked shorts really are the answer to what keeps gold value in check, then my next question would be what keeps bitcoin protected from entities offering naked short selling? I realize that if everyone acts responsibly, that won't be a possibility, but that's never happened before, so I'm not counting on it.

Also, just to clarify a bit, I wasn't trying to compare gold to bitcoin, I believe bitcoin is superior in this role. I was comparing each to dollars, and wondering how we can expect bitcoin to clear the hurdles that gold failed to do, when they are both using the same approach.
cypherdoc
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September 08, 2014, 04:36:48 PM
 #11759


If I remember it right, Wordpress accepting bitcoin killed the decline around November 2012 and sparked a major rally. Are we seeing the same thing play out now but on a larger scale?

it's ludicrous for ppl to think merchant additions is bearish b/c of the immediate conversion to fiat.  yes, this "apparent" relationship is gonna flip in a vicious way for those banking on it.  the addition of Paypal will be huge for Bitcoin as it essentially integrates/envelops/takesover/gobbles its biggest pure digital currency competitor.
damnek
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September 08, 2014, 04:43:08 PM
 #11760


If I remember it right, Wordpress accepting bitcoin killed the decline around November 2012 and sparked a major rally. Are we seeing the same thing play out now but on a larger scale?

it's ludicrous for ppl to think merchant additions is bearish b/c of the immediate conversion to fiat.  yes, this "apparent" relationship is gonna flip in a vicious way for those banking on it.  the addition of Paypal will be huge for Bitcoin as it essentially integrates/envelops/takesover/gobbles its biggest pure digital currency competitor.

If COIN were to exist, we would've seen a guaranteed 10% jump up in price considering the current stock market. If the paypal news is true, this could be a buying opportunity of the decade.

Be a voice, not an echo
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