Gold collapsing. Bitcoin UP.

[cypherdoc]

Looks like my questions may be answered sooner than I thought - silver and gold are getting annihilated while bitcoin is stable. I just stumbled across this article as well:

Thats not really true..  BTC and gold over the last 2 months have declined almost the exact same amount.   and if you look at the chart for the last 12 months, btc is anything but stable whereas gold has been trading in a fairly narrow range.

i've let you pick the beginning of this thread as a base for OUR comparison but don't hold him to that.

why don't we pick the mid November low in Bitcoin @ $2 and compare to gold from there?

[1714201838]

1714201838

[1714201838]

1714201838

[tvbcof]

Another example of the ridiculous overhead for gold. 

Gold refining and verification processes are the equivalent of Bitcoin mining. In both cases, the overhead ensures quality and security.

Bitcoin mining is WAY more than that.  It also has the chance to replace the entire banking system.

In point of fact, gold has a much better chance of 'replacing the entire banking system.'  I wish it were otherwise, but as they say, 'if wishes were horses...'

Furthermore, the old adage of 'be careful what you wish for' might come into play.  Either a metal or Bitcoin backed monetary system has much potential for abuse and general misery.

Digging way back into my memory for one of the reasons Bitcoin appealed to me and one thing it 'had over' gold as the backing for a monetary system is exactly the fact that Bitcoin COULD fail, and more importantly, the fact that it could fail at the hands of the 99%.  Bitcoin derives the core of it's strength from the users, and hoarders could end up completely shit out of luck if they don't act right.

[silverbox]

Looks like my questions may be answered sooner than I thought - silver and gold are getting annihilated while bitcoin is stable. I just stumbled across this article as well:

Thats not really true..  BTC and gold over the last 2 months have declined almost the exact same amount.   and if you look at the chart for the last 12 months, btc is anything but stable whereas gold has been trading in a fairly narrow range.

i've let you pick the beginning of this thread as a base for OUR comparison but don't hold him to that.

why don't we pick the mid November low in Bitcoin @ $2 and compare to gold from there?

Or pick the high in BTC of $30 ..  Its been all over the place the last 12 months, gold has traded from ~1500-2000 a nice stable range..

[cypherdoc]

Looks like my questions may be answered sooner than I thought - silver and gold are getting annihilated while bitcoin is stable. I just stumbled across this article as well:

Thats not really true..  BTC and gold over the last 2 months have declined almost the exact same amount.   and if you look at the chart for the last 12 months, btc is anything but stable whereas gold has been trading in a fairly narrow range.

i've let you pick the beginning of this thread as a base for OUR comparison but don't hold him to that.

why don't we pick the mid November low in Bitcoin @ $2 and compare to gold from there?

Or pick the high in BTC of $30 .. 

touche.

Its been all over the place the last 12 months, gold has traded from ~1500-2000 a nice stable range..

OTOH, you gotta admit its been pretty impressive since November.

[the joint]

Looks like my questions may be answered sooner than I thought - silver and gold are getting annihilated while bitcoin is stable. I just stumbled across this article as well:

Thats not really true..  BTC and gold over the last 2 months have declined almost the exact same amount.   and if you look at the chart for the last 12 months, btc is anything but stable whereas gold has been trading in a fairly narrow range.

i've let you pick the beginning of this thread as a base for OUR comparison but don't hold him to that.

why don't we pick the mid November low in Bitcoin @ $2 and compare to gold from there?

Or pick the high in BTC of $30 .. 

touche.

Its been all over the place the last 12 months, gold has traded from ~1500-2000 a nice stable range..

OTOH, you gotta admit its been pretty impressive since November.

Gotta love confirmation bias.

[cypherdoc]

yowser Baby!  where the hell did those bid walls come from!!!!

[cypherdoc]

those must be Greek Euros lining up!!!

[cypherdoc]

on 2nd thought probably fiat coming out of gold/silver/stocks/oil/euros, etc.

[damnek]

Before bitcoin I had no experience with trading, but knowing that the USD is surging and that BTC has been stable against the USD for some time now, I figured I might as well convert some more euros into bitcoins, especially given the cheap exchange fees. I bet that there a lot more geeks out there thinking like me.

[cypherdoc]

Before bitcoin I had no experience with trading, but knowing that the USD is surging and that BTC has been stable against the USD for some time now, I figured I might as well convert some more euros into bitcoins, especially given the cheap exchange fees. I bet that there a lot more geeks out there thinking like me.

i bet there are alot of non-geeks thinking like you.

[tvbcof]

yowser Baby!  where the hell did those bid walls come from!!!!

Probably a lot of Bitcoinica material before the keystone...er...bitcoin police work out the details.  Shift the look back and forth in an exchange to spread the taint.  Thiefs seem to be willing to take a loss as a cost of doing business, and it can provide opportunities to tank up if one wishes to increase (or decrease) their position.  The allinvain haul seemed to be in play on Tradehill when I was interested in increasing my position and I figure I got in the neighborhood of a 10% discount because of it.

[miscreanity]

Before bitcoin I had no experience with trading, but knowing that the USD is surging and that BTC has been stable against the USD for some time now, I figured I might as well convert some more euros into bitcoins, especially given the cheap exchange fees. I bet that there a lot more geeks out there thinking like me.

i bet there are alot of non-geeks thinking like you.

Too many. Especially those worshipping iProducts and pigskins.

[tvbcof]

General Comment:  Bitcoin recovering...let's hope the trend holds.

Another Score:  5/15/12
          year ago    now       delta mult
BTC     7.50         5.03       + 0.67
Gold    1492         1545      + 1.04

--------------------------
ref (for future updates):
http://bitcoincharts.com/charts/mtgoxUSD#czsg2011-05-08zeg2011-05-08ztgSzm1g10zm2g25zv  (change date)
http://www.kitco.com/charts/livegold.html  (hist cgi at bottom)
mult=now/year_ago

Another Score:  5/14/12
          year ago    now       delta mult
BTC     8.50         5.00       + 0.59
Gold    1495         1555      + 1.04


Another Score:  5/12/12
          year ago    now       delta mult
BTC     5.40         4.95       + 0.92
Gold    1505         1580      + 1.05

Another Score:  5/11/12
          year ago    now       delta mult
BTC     5.00         4.95       +  0.99
Gold    1505         1580      + 1.05

Another Score:  5/10/12  (kitco down, gold est from INO.)
          year ago    now       delta mult
BTC     3.82         4.90       + 1.28
Gold    1510         1593      + 1.05

Another Score:  5/9/12
          year ago    now       delta mult
BTC     3.75         5.03       + 1.34
Gold    1510         1590      + 1.05

Another Score:  5/8/12
          year ago    now       delta mult
BTC     3.64         5.03       + 1.38
Gold    1497         1605      + 1.07

[cypherdoc]

if gold gets below 1523, all Hell is gonna break loose...

[silverbox]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

[cypherdoc]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

i can see you're watching like a Hawk.

[silverbox]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

i can see you're watching like a Hawk.

Not really .  I have zero need to sell anytime in the next few years. 

[cypherdoc]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

i can see you're watching like a Hawk.

Not really .  I have zero need to sell anytime in the next few years. 

you know that 1523 WILL be tested.  gold needs guys like you to step up right now.

[tvbcof]

if gold gets below 1523, all Hell is gonna break loose...

Yeah the Chinese will be filling their vaults..

i can see you're watching like a Hawk.

Not really .  I have zero need to sell anytime in the next few years. 

you know that 1523 WILL be tested.  gold needs guys like you to step up right now.

The driving force for me to buy is when I have an excess of USD moreso than what the price of Au or Ag happens to be, though those are not completely irrelevant factors.

I've been watching like a hawk since I expect another need to dump USD coming up.  If the rocket will wait for me, 'I jump eeen it.'

[cypherdoc]

$27 silver.  don't blink.