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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1807322 times)
arxwn
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September 23, 2014, 07:16:10 PM
 #12621

lol, wtf. the shorts on finex are still there in their full 11k beauty...?!? wouldn't have thought.


This is awesome because it shows that this wasn't a covering rally like the last one.

RE: digital money beating gold.  Cypherdoc I think that this is one of the smartest things you've said on this forum so far.  You observed that digital money makes transmission instant and therefore can be deployed rapidly to calm panics, etc.  That is, the physical act of deployment can happen quickly.  

I'd like to extend this a tidbit to also observe that unbacked money has the advantage that social/political advantage that the decision to transfer can be made quickly and in a centralized fashion.  That is, deciding to pull gold out of Fort Knox and send it to god knows where would probably require an act of congress and freak out the general public.  But telling some bank that they can add a couple of zeros to their balance sheet, especially given that that money needs to STAY on the balance sheet to meet additional solvency regulations, seems to be done by a couple of people sitting in a conf room with no oversight or public knowledge of the situation.  This may not be GOOD, but it let fiat beat gold...

That is a great observation explaining the true nature of  fiat, that of a manipulation tool and as such it has a great value to the political class.
On the other hand real money is like physics it doesnt care about your feelings if you step out of the ledge and crash on the concrete.
There's a real discussion to be made by rational and civilised societies in the future about this.
For the time being bitcoiners are creating the future without asking permission.

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September 23, 2014, 07:16:43 PM
 #12622



So the bitcoin price is going up and to the left?

Didn't think that was possible. lol  Tongue

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cypherdoc
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September 23, 2014, 07:16:43 PM
 #12623

remember what i said about clearing the resistance ceiling near 440.  there is little to no further resistance until 600.  given the magnitude of the Paypal news and the longish almost 10m bearish trend, we could see us move up fast.
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September 23, 2014, 07:17:45 PM
 #12624



So the bitcoin price is going up and to the left?

Didn't think that was possible. lol  Tongue

i know, i know.  i tried for about a minute to flip it in imgur but noscript was messing me up.  Up.  i mean UP!
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September 23, 2014, 07:23:04 PM
 #12625

I seem to remember it happening before...


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arxwn
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September 23, 2014, 07:23:57 PM
 #12626

UP UP and AWAY

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September 23, 2014, 07:25:41 PM
 #12627

aim for head shot btwn the eyes:

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September 23, 2014, 07:34:35 PM
 #12628

aim for head shot btwn the eyes:


What percentage of these shorts are already sold? Do we know?

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September 23, 2014, 07:39:19 PM
 #12629

RE: digital money beating gold.
If it wasn't for the religion of gold throwing so many smokescreens up around the issue, it would be generally considered as obvious as the fact that the internal combustion engine beat horses as a transportation provider.

Yes, I tell people that  Bitcoin is the first engineered sound money.  In analogy if you cut down a forest for firewood, gold is like an axe.  Its the best refined-but-mostly-natural solution.  Bitcoin is a chainsaw.  It uses scientific knowledge, and complex technology  to optimize the solution across multiple criteria.

Fiat is like the king choosing to relabel all thermometers.  

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September 23, 2014, 07:39:27 PM
 #12630

You can mouseover the chart data points to see what time each point was gathered. Looks like it updates at the top of each hour.
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September 23, 2014, 07:47:19 PM
 #12631

commercial RE broke support:

arxwn
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September 23, 2014, 07:47:35 PM
 #12632

RE: digital money beating gold.
If it wasn't for the religion of gold throwing so many smokescreens up around the issue, it would be generally considered as obvious as the fact that the internal combustion engine beat horses as a transportation provider.

Yes, I tell people that  Bitcoin is the first engineered sound money.  In analogy if you cut down a forest for firewood, gold is like an axe.  Its the best refined-but-mostly-natural solution.  Bitcoin is a chainsaw.  It uses scientific knowledge, and complex technology  to optimize the solution across multiple criteria.

Fiat is like the king choosing to relabel all thermometers.  



Lol nice metaphor  Grin

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September 23, 2014, 07:50:41 PM
 #12633

i smell Deflation.

investors are going to have to RunToSafety.  where will they go?  gold and silver?  i say NO WAY.

there's only Bitcoin if you want a scarce supply...
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September 23, 2014, 07:53:46 PM
 #12634

i smell Deflation.

investors are going to have to RunToSafety.  where will they go?  gold and silver?  i say NO WAY.

there's only Bitcoin if you want a scarce supply...

Come on, that's too bold to say for a 6bl market.
I sense spculator buys due to good news.

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September 23, 2014, 08:00:19 PM
 #12635

Dow down -116.17
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September 23, 2014, 08:08:09 PM
 #12636

Dow down -116.17

good riddens

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September 23, 2014, 08:23:51 PM
 #12637

i smell Deflation.

investors are going to have to RunToSafety.  where will they go?  gold and silver?  i say NO WAY.

there's only Bitcoin if you want a scarce supply...

Come on, that's too bold to say for a 6bl market.
I sense spculator buys due to good news.

look forward man.  look forward, far into the future.
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September 23, 2014, 08:28:08 PM
 #12638

i smell Deflation.

investors are going to have to RunToSafety.  where will they go?  gold and silver?  i say NO WAY.

there's only Bitcoin if you want a scarce supply...

Come on, that's too bold to say for a 6bl market.
I sense spculator buys due to good news.

look forward man.  look forward, far into the future.

back to the future when satoshi was just a kid and he dreamt a better place

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cypherdoc
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September 23, 2014, 08:41:11 PM
 #12639

i smell Deflation.

investors are going to have to RunToSafety.  where will they go?  gold and silver?  i say NO WAY.

there's only Bitcoin if you want a scarce supply...

Come on, that's too bold to say for a 6bl market.
I sense spculator buys due to good news.

look forward man.  look forward, far into the future.

back to the future when satoshi was just a kid and he dreamt a better place

 Smiley
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September 23, 2014, 08:46:28 PM
 #12640

you know what this is, right?

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