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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1936082 times)
Adrian-x
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September 29, 2014, 06:50:01 AM
 #12941

Holy cow, 10 pages of trolling, can't believe I investigated real sleep hours reading it.

Good shills are hard to employ these days. They are working for the altcoins. Someone should take this opportunity to open a Troll School using Bitcoin for tuition.

Indeed, a great idea.  Offer group discounts to these folks.



Lols, the group discount was earned today. If there was a concerted effort to drop the price, one day they'll buy in.


This is the only post worth reading in the last 10 pages:
Although this is old hat for many here, I put together a little explanation that may help people see how mining difficulty affects the bitcoin price.



[img width=100 ]http://i.imgur.com/5VOUQlI.png[/img]

Think about how much money was invested, both by consumers and manufacturers, into pushing the difficulty up several orders of magnitude over the past year. That's all money that could have and arguably would have been invested into driving the BTC price up. A lot of the fresh fiat has been going into the mining industry instead of the price. This is of course self-limiting, and so with all that investment happening behind the scenes, when the curtain is pulled back (when buying mining equipment becomes unprofitable), without any outside reason for the investment to slow down, it should start funneling back into the price.


Oh and this one below I see things the same way:
I've said it ten times the past month....this "situation" in mining does not lead to centralization, exactly the opposite.

You know when you guys keep harping about "economy of scale" well that doesn't always mean what you obviously think it means.

You need to rethink the difference between a hobbyist miner with a couple of TH running in their basement vs a commercial building being supplied with a 0.5MW supply and transformer, and wiring performed by electricians, and CSA/UL/CE inspections, and liability insurance, and cooling the building doubling your electrical draw....and a myriad of other expenses that little children like yourselves have never encountered because you have never leased a commercial building to set up a business and you have no idea of the intricacies of business dealings at that scale.

I can't see how they are doing it when I consider the logistics and costs....certainly not with the efficiencies we have today at sub $400 prices.


I started mining again for many reasons pointed out (thanks CMMPro for this post too, it outlines that mining data centers will scale but have an optimal limiting size that won't allow scaling beyond a practical limit with out a large supply of fractional reserve fiat.

Given the state of mining outfits in China, I can't think of anything to say but wow cheep coins. The mining centers remind me a little of a more professional version of GPU mining rig in someone's living room running the next global monetary system.

Anyway a drop in price is going to test network resilience and it's my opposition it's planned and implemented. The banking trolls not buying in now are just ignoring there new global masters at their petrol.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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User705
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September 29, 2014, 06:55:44 AM
 #12942

I've said it ten times the past month....this "situation" in mining does not lead to centralization, exactly the opposite.

You know when you guys keep harping about "economy of scale" well that doesn't always mean what you obviously think it means.

You need to rethink the difference between a hobbyist miner with a couple of TH running in their basement vs a commercial building being supplied with a 0.5MW supply and transformer, and wiring performed by electricians, and CSA/UL/CE inspections, and liability insurance, and cooling the building doubling your electrical draw....and a myriad of other expenses that little children like yourselves have never encountered because you have never leased a commercial building to set up a business and you have no idea of the intricacies of business dealings at that scale.

I can't see how they are doing it when I consider the logistics and costs....certainly not with the efficiencies we have today at sub $400 prices.
 


Sure but who will manufacture these little miners to sell to home hobbyist?
traderCJ
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September 29, 2014, 06:57:01 AM
 #12943

Err...  Yes?  I'm sure there are trolls around, but who would *pay* anyone to do that?
Especially taking into account that I make fun of your wacky ravings absolutely free.
Won't lie, I do get a kick out of laughing at buffoons.  I'm sure I'm not the only one.

furthermore, straight from the Snowden documents and the GCHQ slides

https://firstlook.org/theintercept/2014/02/24/jtrig-manipulation/:



but of course, you're smarter than the Internet.

Just noticed this.  Made me chuckle  Smiley

Slides like this are created by analysts jockeying to make their particular group shine at the next meeting.  You have to remember that the pot of money is only so large and there are a lot of hungry mouths to feed.  People seem to assume that if a slide has TS//HODL headers and footers, then everything on it must be happening.  All sorts of nonsense could make it into these slides without actually being implemented in the real world.  But hey, what do I know.
creekbore
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September 29, 2014, 07:02:33 AM
 #12944

Wow, it's been years since I read this thread, so I picked a random page a month back or so -- all very serious, lots of graphs and some interesting discussion (although in hindsight, some pretty off whack predictions).  Then I skip forward to 'now' and it's people calling each other cocksuckers --unbelievable.

Cypherdoc, seriously, if you haven't learnt "don't feed the troll" by now, it does actually make me question your authority to posit an opinion on anything.  LambChop/NotLambChop has trolled the forum forever, under a guise of identities...use the ignore button, he bores eventually.


"Markets always move in the direction to hurt the most investors." AnonyMint
"Market depth is meaningless" AdamstgBit
solex
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100 satoshis -> ISO code


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September 29, 2014, 07:51:11 AM
 #12945

from the top at 1163 on Bitstamp, we are only down 67-68%.  that's not bad, nor unusual, for Bitcoin pullbacks.

try 32 --> 1.98.


Yup.

2011 pullback was: -94%
2013 (April) drop was: -81%

Wouldn't be unreasonable to max out in the -70% range on this one.

For those that like round numbers:

ramp            base-to-peak   retrace
2011            30x                 -90%
2013 early     20x                -80%
2013 late      10x                 -70%  ??

domob
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September 29, 2014, 08:15:33 AM
 #12946

For those that like round numbers:

ramp            base-to-peak   retrace
2011            30x                 -90%
2013 early     20x                -80%
2013 late      10x                 -70%  ??

So next will be base-to-peak 0x, which means that all those calling for Bitcoin going to zero are right. Tongue

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wachtwoord
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September 29, 2014, 08:24:55 AM
 #12947

For those that like round numbers:

ramp            base-to-peak   retrace
2011            30x                 -90%
2013 early     20x                -80%
2013 late      10x                 -70%  ??

So next will be base-to-peak 0x, which means that all those calling for Bitcoin going to zero are right. Tongue

Okay let's fuck with these number for fun and entertainment (so don't take this too seriously) Tongue

10/30=1/3, so in 2 steps we go from 30 to 10. So in 2 steps we'll go from 10 to 3.33. In one step this would be sqrt(1/3)*10 = 5.77

It is isn't exactly precise as we can see from pas data 30*sqrt(1/3) = 17.3 (which is less than 20x). How accurate are the inputs here anyway? Wink
creekbore
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September 29, 2014, 10:16:16 AM
 #12948

We're currently down about 68% from the ATH...so calling a bottom and reversal around now would be sensible, if you see the universe conforming to regular patterns.

"Markets always move in the direction to hurt the most investors." AnonyMint
"Market depth is meaningless" AdamstgBit
Erdogan
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September 29, 2014, 11:35:50 AM
 #12949

...
he/they cut/paste posting the same shit on r/bitcoin so I'm calling troll on this guy (or team?)

seems like last time they used the cult meme talking point ... this time around it is "bitcoin has no perceptible benefits" and "early adopters are MLM (multi-level marketing)"

Who are these hired guns working for?

The Gubirmint?
Teh Banksters?
Our Beneficent Reptilian Overlords(long may They reign!)??

My guess is Apple, because they are known to be using that kind of sales support, and because they have a skin in the game with applepay. Doesn't sound like they can achieve much, but hey, they have cash to burn.
NotLambchop
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September 29, 2014, 12:14:04 PM
 #12950

...
he/they cut/paste posting the same shit on r/bitcoin so I'm calling troll on this guy (or team?)

seems like last time they used the cult meme talking point ... this time around it is "bitcoin has no perceptible benefits" and "early adopters are MLM (multi-level marketing)"

Who are these hired guns working for?

The Gubirmint?
Teh Banksters?
Our Beneficent Reptilian Overlords(long may They reign!)??

My guess is Apple, because they are known to be using that kind of sales support, and because they have a skin in the game with applepay. Doesn't sound like they can achieve much, but hey, they have cash to burn.


Drats!  You've seen through my fiendish ploy...  well all right, here's your apple Sad

BlindMayorBitcorn
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September 29, 2014, 12:15:55 PM
 #12951

...
he/they cut/paste posting the same shit on r/bitcoin so I'm calling troll on this guy (or team?)

seems like last time they used the cult meme talking point ... this time around it is "bitcoin has no perceptible benefits" and "early adopters are MLM (multi-level marketing)"

Who are these hired guns working for?

The Gubirmint?
Teh Banksters?
Our Beneficent Reptilian Overlords(long may They reign!)??

My guess is Apple, because they are known to be using that kind of sales support, and because they have a skin in the game with applepay. Doesn't sound like they can achieve much, but hey, they have cash to burn.


Drats!  You've seen through my fiendish ploy...  well all right, here's your apple Sad



LOL

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.
sidhujag
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September 29, 2014, 01:16:40 PM
 #12952

We're currently down about 68% from the ATH...so calling a bottom and reversal around now would be sensible, if you see the universe conforming to regular patterns.

ltc needs one more dump to hit target.

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boumalo
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September 29, 2014, 02:33:25 PM
 #12953


Obviously Bitcoin has more potential than Gold and performed better last few years but Bitcoin is more risky and Gold can benefit of the upcoming fall of the USD and western financial system too so it's a great asset to have for us who know what is coming


In my mind it's most likely that distributed crypto-currencies will benefit from a lose of confidence in fiat systems much more than gold.  The simple reason for this is that they are new and starting from a lower position relative to gold and silver.

I see gold, and to a larger degree, silver, as being something to have should a loss of confidence in fiat systems result in war, famine, totalitarianism, etc.  Such outcomes are not unusual in times of economic collapse and I don't think that any country is immune from them.  It would be much easier for authoritarians to limit realistic normal use of something like Bitcoin which requires a reasonably well-working and free global internet and in times of strife I find it almost inconceivable that such a thing would go unchallenged.  It would still be worth having some private keys with assigned value, but mostly to hold on to for better times and/or to use in operations which are already quite risky anyway.



What you meant is Gold will benefit more because it is more established and known, it's reasonable to think that but Bitcoin has a huge potential no matter what; we could see economic collapse with some countries that fair very well aka Asian countries, free countries like Switzerland; the collapse of the USD will be great in the medium term for the hard working/hard saving countries like China, they will consume what they produce just fine, they don't need the Americans to consume what they produce and pay in fiat

6pages of comments in one day, this thread is ON FIRE

cypherdoc
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September 29, 2014, 03:36:54 PM
 #12954

good 'ol trustee SLW grinding lower.  i think we have room for one more short term punch down in both gold and silver before we get a bounce:

cypherdoc
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September 29, 2014, 03:42:12 PM
 #12955

you gotta admire how the apparatchiks run the futures up and down overnight to trigger all the stops @17000 at the open for the main indices for retail investors.  this market will chew you up:

cypherdoc
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September 29, 2014, 03:48:06 PM
 #12956


Obviously Bitcoin has more potential than Gold and performed better last few years but Bitcoin is more risky and Gold can benefit of the upcoming fall of the USD and western financial system too so it's a great asset to have for us who know what is coming


In my mind it's most likely that distributed crypto-currencies will benefit from a lose of confidence in fiat systems much more than gold.  The simple reason for this is that they are new and starting from a lower position relative to gold and silver.

I see gold, and to a larger degree, silver, as being something to have should a loss of confidence in fiat systems result in war, famine, totalitarianism, etc.  Such outcomes are not unusual in times of economic collapse and I don't think that any country is immune from them.  It would be much easier for authoritarians to limit realistic normal use of something like Bitcoin which requires a reasonably well-working and free global internet and in times of strife I find it almost inconceivable that such a thing would go unchallenged.  It would still be worth having some private keys with assigned value, but mostly to hold on to for better times and/or to use in operations which are already quite risky anyway.



What you meant is Gold will benefit more because it is more established and known, it's reasonable to think that but Bitcoin has a huge potential no matter what; we could see economic collapse with some countries that fair very well aka Asian countries, free countries like Switzerland; the collapse of the USD will be great in the medium term for the hard working/hard saving countries like China, they will consume what they produce just fine, they don't need the Americans to consume what they produce and pay in fiat

6pages of comments in one day, this thread is ON FIRE

this is my argument as well. even if, and maybe moreso, if we get another deflationary event in the stock mkt.
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September 29, 2014, 03:58:29 PM
 #12957

Circle open access to easy Bitcoin is a big deal.

and if you believe in big fractals, percentages, and timing, now's not a bad time.
FNG
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September 29, 2014, 04:22:53 PM
 #12958

Circle open access to easy Bitcoin is a big deal.

and if you believe in big fractals, percentages, and timing, now's not a bad time.
Huge deal. Have been playing around with it today. Easiest on-ramp yet. I'm sure they're going to use the media quite a bit and the masses will be able to buy $20 or so with ease
adamstgBit
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September 29, 2014, 04:25:11 PM
 #12959

Circle open access to easy Bitcoin is a big deal.

and if you believe in big fractals, percentages, and timing, now's not a bad time.
Huge deal. Have been playing around with it today. Easiest on-ramp yet. I'm sure they're going to use the media quite a bit and the masses will be able to buy $20 or so with ease

if a million poeple hit market buy with 20$ we're gana have a problem   Grin

never gana happen....

cypherdoc
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September 29, 2014, 04:37:53 PM
 #12960

Western Union heading back down:

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