Gold collapsing. Bitcoin UP.

[tvbcof]

My guess is that we are now in a phase where non-economic actors (e.g., govts) and large players (e.g., Winkle-types) can cooperate.  The latter needs the former to make their operations possible and the it would be in the interest of the former to limit the body-count of persons interested in the solution, it being significantly disruptive.

We've had 3 quarters of time for the fruit to ripen on the tree and it was time for a good shake.  Hopefully this will set the stage for some capitalization on the upside finally.  At least when it is all over which I'm hardly convinced of.  I'd been prepared for $250-ish, but it was just a round number I invented on the fly with no particular insight or analysis.

An alternate theory (perhaps shot down in other analysis, and I'm not following things all that closely) is that the latest Russian criminalization forced some whales to simply throw in the towel in the most expedient and straightforward way possible, and some of their counterparts in other locales mopped the BTC up.  If/when such criminalization happens in the West it will be very interesting to watch.  At that point there probably would be no venue in which to create a wall.

[1714211916]

1714211916

[1714211916]

1714211916

[brand]

gold will be replacing bitcoin? 

[cypherdoc]

we've moved into the window for an intermediate/weekly term low.  while my short cover occurred on 9/30 and was 3d too early, today makes me feel better, as we're getting a decent bounce.  the trick will be if we're forming a daily/short term bottom right now or going to get another push down further into the weekly/intermed term bottom.  nothing has changed in the longer term bearish outlook assuming the top was 1923.  we'll see:

[cypherdoc]

Jim Rickards on gold & Bitcoin (at the very, very end) with Matt Miller.  once again, somehow in so many ppl's minds, Bitcoin the currency is no good, but the underlying technology will stick around, lol:

http://www.bloomberg.com/video/fundamental-u-s-economy-is-very-weak-rickards-Rg8MTG81QFOIkRqJT6RuVQ.html

[devphp]

...the underlying technology will stick around

The concept, not the technology.

[cypherdoc]

...the underlying technology will stick around

The concept, not the technology.

he said the "the technology is cool, i have my doubts about the currency, but the technology will be around".

[devphp]

he said the "the technology is cool, i have my doubts about the currency, but the technology will be around".

Sure, but he doesn't understand details of it, just the basics.

[cypherdoc]

big daily swing low in silver. may go all the way up and touch resistance. it's time:

[cypherdoc]

actually, i'm really glad i sold ZSL 4d ago even though i could've peaked it out Friday, as today's move in silver is strong and ZSL is already well below where i sold.  this could be a decent move for silver:

[Void_80]

in Russia they will not criminalize BTC and the likes.
It will be just fines, expensive for firms, but dealing with cryptomoney
is prohibited for legal entities in Russia anyway.
So all these moves and plans (law is in the stage of a project )
will not affect price of BTC strongly.
It is already prohibited , like everything there LOL
Dont look on this issue like  you all got used to in your nice western law abiding realm.
Russians dont give a fuck about laws, or otherwise they would be dead all together long ago  

[cypherdoc]

in Russia they will not criminalize BTC and the likes.
It will be just fines, expensive for firms, but dealing with cryptomoney
is prohibited for legal entities in Russia anyway.
So all these moves and plans (law is in the stage of a project )
will not affect price of BTC strongly.
It is already prohibited , like everything there LOL
Dont look on this issue like  you all got used to in your nice western law abiding realm.
Russians dont give a fuck about laws, or otherwise they would be dead all together long ago  

thanks for your perspective.

[Morbid]

in Russia they will not criminalize BTC and the likes.
It will be just fines, expensive for firms, but dealing with cryptomoney
is prohibited for legal entities in Russia anyway.
So all these moves and plans (law is in the stage of a project )
will not affect price of BTC strongly.
It is already prohibited , like everything there LOL
Dont look on this issue like  you all got used to in your nice western law abiding realm.
Russians dont give a fuck about laws, or otherwise they would be dead all together long ago  

thanks for your perspective.

there is a very popular saying in russia:
harshness of russian laws are compensated by slackitude of its enforcement.

[sidhujag]

Wow just looked at usdx.. looks like I was right about NFP sell the top event you can def see it in asian trading and then followed by a spike on nfp... good news is bad news bad news is good news if I feel like it this year.

Doc what was that number I pulled out on gold? That's probably the first target, 1310... after that we shall see.

[World]

I call this distribution from weak hands to strong hands
http://nymag.com/daily/intelligencer/2014/10/bearwhale-is-freaking-out-the-bitcoin-markets.html

[solex]

I call this distribution from weak hands to strong hands
http://nymag.com/daily/intelligencer/2014/10/bearwhale-is-freaking-out-the-bitcoin-markets.html

That's actually quite a fun article, very well written.

[molecular]

I call this distribution from weak hands to strong hands
http://nymag.com/daily/intelligencer/2014/10/bearwhale-is-freaking-out-the-bitcoin-markets.html

That's actually quite a fun article, very well written.

I'll have to try reading again, because I stopped after reading:

So this weekend, when the blockchain (Bitcoin's built-in ledger system) showed that a single Bitcoin collector was trying to sell 30,000 Bitcoin all at once at a price of $300 per coin

[Melbustus]

I call this distribution from weak hands to strong hands
http://nymag.com/daily/intelligencer/2014/10/bearwhale-is-freaking-out-the-bitcoin-markets.html

That's actually quite a fun article, very well written.

I'll have to try reading again, because I stopped after reading:

So this weekend, when the blockchain (Bitcoin's built-in ledger system) showed that a single Bitcoin collector was trying to sell 30,000 Bitcoin all at once at a price of $300 per coin

Don't bother. Kevin Roose is a permabear. As expected, he ends the article noting how bitcoin is horrible off its high. Nevermind the fact that it's *still* up 270% over the last 12 months, and 2700% over the past two years. These guys always seem to leave that part out...

[smoothie]

I call this distribution from weak hands to strong hands
http://nymag.com/daily/intelligencer/2014/10/bearwhale-is-freaking-out-the-bitcoin-markets.html

That's actually quite a fun article, very well written.

I'll have to try reading again, because I stopped after reading:

So this weekend, when the blockchain (Bitcoin's built-in ledger system) showed that a single Bitcoin collector was trying to sell 30,000 Bitcoin all at once at a price of $300 per coin

Don't bother. Kevin Roose is a permabear. As expected, he ends the article noting how bitcoin is horrible off its high. Nevermind the fact that it's *still* up 270% over the last 12 months, and 2700% over the past two years. These guys always seem to leave that part out...

dont you know that they can't see past their noses? Lol

[Odalv]

in Russia they will not criminalize BTC and the likes.
It will be just fines, expensive for firms, but dealing with cryptomoney
is prohibited for legal entities in Russia anyway.
So all these moves and plans (law is in the stage of a project )
will not affect price of BTC strongly.
It is already prohibited , like everything there LOL
Dont look on this issue like  you all got used to in your nice western law abiding realm.
Russians dont give a fuck about laws, or otherwise they would be dead all together long ago  

thanks for your perspective.

there is a very popular saying in russia:
harshness of russian laws are compensated by slackitude of its enforcement.

But when government doesn't like you then they have plenty of laws against you. (see pussy riot, and so on)

[cypherdoc]

no mo trolls = higher prices