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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2010688 times)
zeetubes
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October 03, 2014, 11:19:11 PM
 #13181

If you believe it and hold gold but want to stay in the precious metal game, you sell the gold for silver.
The silver gold ratio is higher than most any time in history, and this would be a good time to take advantage.  If PM prices go up, silver will be expected to go up more by %.

Or you could just buy bitcoin.
Silver is not gold. How much silver do central banks hold?

FNG, you are making NL's point for him.

Silver is at a ridiculous 70:1 ratio vs gold precisely because it has been completely (while gold has only been partially) demonetized.

When silver is re-monetized, and central banks revert to the norm of buying/holding it in their reserves, the ratio will fall towards the historic average of 16:1.

The Canadian Mint has some very cool new 10oz bars with anti-counterfeiting features.  I'm sorely tempted to buy some, but I know Dr. Cypher would never forgive me!   Grin

Cypher is a forgiving person and having all your eggs in one virtual basket is always risky. Smiley

I read a quote from Eric Sprott the other day that silver from a mine delivered costs $22-25 per oz, with some caveats like recycled silver and silver produced as a by-product of other mines. I'm guessing gold is in a similar situation. Physical PM sales in September were double that of previous months and the sales came from existing stock because the production of coins at places like the US mint is below current demand. But in the PM arena physical demand/supply has no bearing on the paper price. Apple purportedly makes 20-30% profit on each iphone. If they were taking a 20% loss per unit then either Apple would go broke or they would have to raise the price. It would be logical to think that PM miners will need higher prices or face going broke but logic also doesn't play a huge part in financial markets these days. Either way, you could make a reasonable case for silver right now imo.
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Syke
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October 03, 2014, 11:54:08 PM
 #13182

...
* Rewards points are ~1%.
* Using bitcoin at gyft.com gives you 3%.

Winner: BITCOIN.

And how many percent did Bitcoin fall JUST TODAY? Cheesy
Saved for future reference.

You need a hand with the math?

I plan on living about 100 years, so looking at the daily ups/downs of any of my assets is just noise. My USD holdings drop several percentage points virtually every single year. For my bitcoin holdings, 2010, 2011, 2012, and 2013 have been amazing years. 2014 is an outlier. Talk to me again in 2024 and we'll compare USD to BTC.

Buy & Hold
tabnloz
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October 04, 2014, 12:29:16 AM
 #13183

Two bit Idiot on bitcoin as commodity

http://two-bit-idiot.tumblr.com/post/98816261249/btc-isnt-a-currency
cypherdoc
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October 04, 2014, 02:05:24 AM
 #13184


that's a joke.  i've been railing on him about that.
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October 04, 2014, 02:13:46 AM
 #13185


that's a joke.  i've been railing on him about that.

he does seem to have come around recently

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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October 04, 2014, 02:14:23 AM
 #13186


that's a joke.  i've been railing on him about that.

he does seem to have come around recently

you mean since he posted that just a coupla days ago?  already?

edit:  i don't think so:  https://twitter.com/twobitidiot/status/518166299298779136
Coinshot
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October 04, 2014, 02:16:52 AM
 #13187

Gold collapsing as well as Bitcoin collapsing. Gold will go down more, though and Bitcoin should break the trend soon. So buying Bitcoin now.


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...INTRODUCING WAVES........
...ULTIMATE ASSET/CUSTOM TOKEN BLOCKCHAIN PLATFORM...






cypherdoc
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October 04, 2014, 02:18:54 AM
 #13188

Gold collapsing as well as Bitcoin collapsing. Gold will go down more, though and Bitcoin should break the trend soon. So buying Bitcoin now.

agreed, me too.
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October 04, 2014, 02:19:37 AM
 #13189

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.


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October 04, 2014, 02:23:48 AM
 #13190

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.



given that's the biggest source, it would make sense.  altho i'm not sure he holds them.
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October 04, 2014, 02:26:16 AM
 #13191

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?
My first guess would be that is the BTC that Karpeles stole.
given that's the biggest source, it would make sense.  altho i'm not sure he holds them.

He probably does not, but that certainly doesn't mean they would not be making it to market.  In fact, it's more likely they would be put into the market if he does NOT control them.


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October 04, 2014, 02:26:34 AM
 #13192


that's a joke.  i've been railing on him about that.

he does seem to have come around recently

you mean since he posted that just a coupla days ago?  already?

edit:  i don't think so:  https://twitter.com/twobitidiot/status/518166299298779136

oh nvm I didn't get what you were saying right

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
Adrian-x
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October 04, 2014, 02:26:45 AM
 #13193

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.

I think the missing Gox BTC took us to $2 in 2011-12, this is the start of capitulation and whale re-balancing.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
tvbcof
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October 04, 2014, 02:30:49 AM
 #13194

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.

I think the missing Gox BTC took us to $2 in 2011-12, this is the start of capitulation and whale re-balancing.

You may well be right.  I hope so.  I've not followed any analysis which lends strength to you suggestion and certainly have not performed any myself.  I'm not aware of any public proof of control after then famous mid-2011 transfer so they certainly could have launched into a bunch of blatant fraud in that timeframe.


cypherdoc
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October 04, 2014, 02:30:53 AM
 #13195

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.

I think the missing Gox BTC took us to $2 in 2011-12, this is the start of capitulation and whale re-balancing.

i sincerely hope that most whales are rebalancing as it would be the most bullish thing yet --> distribution into stronger, more numerous hands.
cypherdoc
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October 04, 2014, 02:32:23 AM
 #13196

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.

I think the missing Gox BTC took us to $2 in 2011-12, this is the start of capitulation and whale re-balancing.

not sure what you're referring to.  you mean the guy Kevin who stole around 2000BTC?
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October 04, 2014, 02:49:15 AM
 #13197

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.

I think the missing Gox BTC took us to $2 in 2011-12, this is the start of capitulation and whale re-balancing.

You may well be right.  I hope so.  I've not followed any analysis which lends strength to you suggestion and certainly have not performed any myself.  I'm not aware of any public proof of control after then famous mid-2011 transfer so they certainly could have launched into a bunch of blatant fraud in that timeframe.

If anything I hope it's whales dumping Bitcoin to arm the fiat cannons, but the thought also crossed my mind that it could be some Russian oligarchs (who bought in during the Cyprus run up) they could be dumping give Russia's new position on Bitcoin and the fact its been a relative hedge given the drop in ruble.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
cypherdoc
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October 04, 2014, 02:56:39 AM
 #13198

regardless of who it is, this severe volatility is to be expected with a nascent, fixed supply currency that has no real competition (despite what the altscams say) and is permeating every corner of the earth.  it's a reflection of the severe disagreement btwn proponents and opponents who take turns gaining the upper hand in a never ending series of up down cycles.  

it's a promising sign, as Bitcoin truly has the potential to change the world.  

back in Jan 2011, the volatility of Oct 2010, from $0.06 to $0.50 and then back down to $0.14 is what caught my eye and told me, "there's something here".
Peter R
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October 04, 2014, 03:02:29 AM
 #13199

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.

I think the missing Gox BTC took us to $2 in 2011-12, this is the start of capitulation and whale re-balancing.

not sure what you're referring to.  you mean the guy Kevin who stole around 2000BTC?

Although the evidence is circumstantial, a plausible case can be made that the great bitcoin theft actually took place in 2011, and all the following events were the result of Mark trying to fix it:

http://www.reddit.com/r/Bitcoin/comments/1zdnop/peter_rs_theory_on_the_collapse_of_mt_gox/

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
tabnloz
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October 04, 2014, 03:02:51 AM
 #13200

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?

My first guess would be that is the BTC that Karpeles stole.

I think the missing Gox BTC took us to $2 in 2011-12, this is the start of capitulation and whale re-balancing.

You may well be right.  I hope so.  I've not followed any analysis which lends strength to you suggestion and certainly have not performed any myself.  I'm not aware of any public proof of control after then famous mid-2011 transfer so they certainly could have launched into a bunch of blatant fraud in that timeframe.

If anything I hope it's whales dumping Bitcoin to arm the fiat cannons, but the thought also crossed my mind that it could be some Russian oligarchs (who bought in during the Cyprus run up) they could be dumping give Russia's new position on Bitcoin and the fact its been a relative hedge given the drop in ruble.

It's a good point - reinforces the fact that this isn't a U.S. centric market ( looking at you NYC) but a global asset that can be a tool for many different use cases (I know the applications for remittance & transfer is also worldwide, but I mean that it also an effective trading asset v fiat devaluation etc).
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