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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805716 times)
ssmc2
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September 25, 2014, 05:58:40 PM
 #12721

http://contrariancompliance.com/2014/09/25/bitcoiners-are-repeating-forgotten-history-and-are-accordingly-doomed/ --Aaron Greenspan

 Is he just butthurt that isn't wasn't himself to come up with it?

Mostly this I think.
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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rocks
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September 25, 2014, 06:47:20 PM
 #12722


I'm not sure we can compare exchanges with and without fees. So all statistics are not quite accurate (maybe errors by order of magnitude)

Alibaba is taking direct aim at Amazon and Walmart. Chinese companies are becoming more and more comfortable about competing in established overseas markets and their exchanges must have implicit support from the chinese government.

Both amazon and Walmart are significantly more than websites. The amount of distribution infrastructure both have built is quite massive. Heck Walmart was using satilights to move information to optimize distribution in the 70s, I believe before wall street started to use them to move data.
HeliKopterBen
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September 25, 2014, 07:23:24 PM
 #12723

http://contrariancompliance.com/2014/09/25/bitcoiners-are-repeating-forgotten-history-and-are-accordingly-doomed/ --Aaron Greenspan

Is this guy for real? I would think that someone who spent so much energy trying to developer a new payment system(FaceCash) and was abruptly shut down by the authorities would have more respect for such a distributed system. Is he just butthurt that it wasn't himself to come up with it?

Most people have forgotten how bitcoin tends to violently crash up.

Counterfeit:  made in imitation of something else with intent to deceive:  merriam-webster
cypherdoc
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September 25, 2014, 07:30:14 PM
 #12724

well, here's some debt that is being sold off:

rocks
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September 25, 2014, 07:53:37 PM
 #12725

oh, this looks fair:



The 40s - 60s are not the norm, that data was driven by the fact that there was a historic labor shortage in the US, caused by the fact that after bombing all other manufacturing centers in WWII the US represented over 50% of the world's manufacturing base.

Labor's strength as shown in the chart is not happening again unless the US becomes 50% of the manufacturing base again, which will only happen if we have WWIII. I'm not in favor of killing billions of humans to achieve this....
cypherdoc
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September 26, 2014, 12:47:04 AM
 #12726

i'm definitely a buyer here.  bought yesterday and today.
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September 26, 2014, 01:26:39 AM
 #12727

cypherdoc's "support/resistance" strat vs Ryan's EWology strat.

i got my popcorn, my bitcoins and my fiat ready Smiley

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September 26, 2014, 02:22:44 AM
 #12728

cypherdoc's "support/resistance" strat vs Ryan's EWology strat.

i got my popcorn, my bitcoins and my fiat ready Smiley



there's way more than just support/resistance strategy.
FNG
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September 26, 2014, 05:43:00 AM
 #12729

Is anybody buying gold at this point? With fiat or with btc? Seems like a buy right now...but with what?

"Latest official gold reserve data from the International Monetary Fund (IMF) shows that Russia again added to its gold reserves in August, with the Central bank of the Russian Federation purchasing  232,510 ozs (7.23 tonnes) and bringing its total gold reserves to 35.769 million ozs or 1,112.5 tonnes.

Likewise, the National Bank of Kazakhstan purchased a massive 795,213 ozs or 24.7 tonnes in August bringing its total gold reserves to 5.848 million ozs (181.9 tonnes).

Turkey was also a gold buyer in August and the Turkish central bank adding 96,783 ozs (3 tonnes) to bring its total official gold reserves to 16.45 million ozs (511.6 tonnes), which is the world's 12th largest official gold holding.

According to the IMF data, other countries which added to their gold reserves in August included the central banks of Azerbaijan and Ukraine. "

 Grin

Buy with fiat.   Fiat should always be sold for btc or gold
ginpalace
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September 26, 2014, 05:43:33 AM
 #12730

Is anybody buying gold at this point? With fiat or with btc? Seems like a buy right now...but with what?

Yes, someone is buying. Countries like China, Russia and India are leading.

I had 33 bitcoins. Now I have 30 bitcoins, 1/2 oz Gold, 10 oz silver and a bag of weed.

I don´t have more FIAT to spend on silver, gold nor bitcoins. Otherwise it would be instant buy.
zeetubes
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September 26, 2014, 06:48:05 AM
 #12731

Is anybody buying gold at this point? With fiat or with btc? Seems like a buy right now...but with what?

Yes, someone is buying. Countries like China, Russia and India are leading.

I had 33 bitcoins. Now I have 30 bitcoins, 1/2 oz Gold, 10 oz silver and a bag of weed.

I don´t have more FIAT to spend on silver, gold nor bitcoins. Otherwise it would be instant buy.

You can also look at it from another perspective. Some central banks are buying and some, like the Fed, are supressing the price. If they are trying to keep the price suppressed then it is obviously important enough to them that they can't ignore it and allow price discovery to occur. Also the new Shanghai metals exchange doesn't allow naked shorting. If the chinese government decides this is a good opportunity to reveal how much they've accumulated over the last five years then it would be a good time to own some gold.
ginpalace
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September 26, 2014, 07:47:20 AM
 #12732

All these news lately have led me in to conclusion there will be surge in all three: gold, silver and bitcoin.

The biggest financial decision for me is to decide in which order these assets are going jump to next magnitude. As today, I am almost all in with bitcoin but started to balance my positions.
kehtolo
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September 26, 2014, 10:20:37 AM
 #12733

Peter Schiff: Talking dollar collapse and looming black hole. (spoiler: he thinks Gold is the answer) (second spoiler: not one mention of bitcoin anywhere)

http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/

The last 24 hours were critical but the next 24 hours are criticaller!
kehtolo
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September 26, 2014, 10:28:00 AM
 #12734

Peter Schiff: Talking dollar collapse and looming black hole. (spoiler: he thinks Gold is the answer) (second spoiler: not one mention of bitcoin anywhere)

http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/

Nobody wants to jump on our sinking ship Undecided

You can call it that if you want.. I won't. I wouldn't mind if Schiff doesn't mention bitcoin - he was staunchly anti bitcoin all along.
He had made one or two concessions recently towards bitcoin but he is still a Goldbug pure and simple.

The takeaway point here is that QE and the dollar are fucked. At least he sees that!


The last 24 hours were critical but the next 24 hours are criticaller!
devphp
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September 26, 2014, 10:28:28 AM
 #12735

Nobody wants to jump on our sinking ship Undecided

There is a way out of this sinking ship though.
marcus_of_augustus
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September 26, 2014, 10:58:57 AM
 #12736

Peter Schiff: Talking dollar collapse and looming black hole. (spoiler: he thinks Gold is the answer) (second spoiler: not one mention of bitcoin anywhere)

http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/

Nobody wants to jump on our sinking ship Undecided


You should probably get that myopia checked out, it might be costing you some serious large long term benefits.

marcus_of_augustus
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September 26, 2014, 11:10:26 AM
 #12737

Peter Schiff: Talking dollar collapse and looming black hole. (spoiler: he thinks Gold is the answer) (second spoiler: not one mention of bitcoin anywhere)

http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/

Nobody wants to jump on our sinking ship Undecided


You should probably get that myopia checked out, it might be costing you some serious large long term benefits.

Nice lines Roll Eyes Bitcoin is $394 on BTC-e

... quick, you better close out your shorts then.

BlindMayorBitcorn
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September 26, 2014, 11:42:27 AM
 #12738

Peter Schiff: Talking dollar collapse and looming black hole. (spoiler: he thinks Gold is the answer) (second spoiler: not one mention of bitcoin anywhere)

http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/

Nobody wants to jump on our sinking ship Undecided


You should probably get that myopia checked out, it might be costing you some serious large long term benefits.

Nice lines Roll Eyes Bitcoin is $394 on BTC-e

... quick, you better close out your shorts then.

Nope. $390;)

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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September 26, 2014, 12:03:32 PM
 #12739

Peter Schiff: Talking dollar collapse and looming black hole. (spoiler: he thinks Gold is the answer) (second spoiler: not one mention of bitcoin anywhere)

http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/

Nobody wants to jump on our sinking ship Undecided


You should probably get that myopia checked out, it might be costing you some serious large long term benefits.

Nice lines Roll Eyes Bitcoin is $394 on BTC-e

... quick, you better close out your shorts then.

Nope. $390;)

You'll learn. Shorting a bear market is easy until it isn't. Timing the end of a bear market is difficult. Most traders get burned. You may pick up a few more pennies betting on the demise of bitcoin but don't come whining when the price jumps 10% in 30 minutes like it did earlier this week.
arieq
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September 26, 2014, 12:10:22 PM
 #12740

IMO, BTC can not be mainstream, because it's already 1/2 out and it's going to be harder than mining gold.
How could something this hard to generate to be use daily? It should worth 1 BTC per house in US. Assuming 2016 will take 3 months to mint 1 BTC.

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