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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1934244 times)
blaaaaacksuit
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October 03, 2014, 06:03:18 PM
 #13181

Get ready for the oncoming storm, BTC is about to sky rocket, will hit $5k in 2015 (I'm serious)

 Roll Eyes

While I would give it low single digit percent chance of ever materializing there is still time before the storm.


Hence the ---->  Roll Eyes
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blaaaaacksuit
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October 03, 2014, 07:04:55 PM
 #13182

Can anyone speculate as to what has been up with all the dumping?  Where are all these coins coming from?
cypherdoc
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October 03, 2014, 07:24:08 PM
 #13183

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

this for one.  i just hope these derivatives exchanges aren't allowing naked shorting:

rocks
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October 03, 2014, 09:05:35 PM
 #13184

I had not yet come across Bitcoin in 2011, but imagine it's starting to feel a lot like it did in late 2011.
damnek
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October 03, 2014, 09:13:30 PM
 #13185

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

this for one.  i just hope these derivatives exchanges aren't allowing naked shorting:



To be fair 11k is nothing compared to the entire float.

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October 03, 2014, 09:32:14 PM
 #13186

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

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  David Chaum 1996
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Core GUI - Podcats - Roadmap - Dice - Blackjack - Github - Android }
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Fungibility provides privacy as a side effect.  Adam Back 2014

Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016
Blocks must necessarily be full for the Bitcoin network to be able to pay for its own security.  davout 2015
Blocksize is an intentionally limited resource, like the 21e6 BTC limit.  Changing it degrades the surrounding economics, creating negative incentives.  Jeff Garzik 2013


The raison d'être of bitcoin is trustlessness. - Eric Lombrozo 2015
It is an Engineering Requirement that Bitcoin be “Above the Law”  Paul Sztorc 2015
Resiliency, not efficiency, is the paramount goal of decentralized, non-state sanctioned currency -Jon Matonis 2015

Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016

Technology tends to move in the direction of making surveillance easier, and the ability of computers to track us doubles every eighteen months. - Phil Zimmerman 2013

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zeetubes
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October 03, 2014, 11:19:11 PM
 #13187

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.
Syke
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October 03, 2014, 11:54:08 PM
 #13188

...
* 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
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October 04, 2014, 12:29:16 AM
 #13189

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
 #13190


that's a joke.  i've been railing on him about that.
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October 04, 2014, 02:13:46 AM
 #13191


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
cypherdoc
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October 04, 2014, 02:14:23 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
Coinshot
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October 04, 2014, 02:16:52 AM
 #13193

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
 #13194

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.
tvbcof
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October 04, 2014, 02:19:37 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.


cypherdoc
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October 04, 2014, 02:23:48 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.



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


brg444
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October 04, 2014, 02:26:34 AM
 #13198


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
 #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.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
tvbcof
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October 04, 2014, 02:30:49 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.


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