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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805690 times)
solex
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October 11, 2014, 10:45:32 PM
 #13741

I'm waiting for the next world financial crisis first before I even think of selling my coins.

When people run from fiat it will be epic...

We don't have to wait. I've got the popcorn out for Venezuela already, and Argentina is next on the timetable.

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October 11, 2014, 10:48:49 PM
 #13742

I'm waiting for the next world financial crisis first before I even think of selling my coins.

When people run from fiat it will be epic...

We don't have to wait. I've got the popcorn out for Venezuela already, and Argentina is next on the timetable.

greece, italy, portugal, spain at the corner too.
Melbustus
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October 11, 2014, 10:49:38 PM
 #13743

I'm waiting for the next world financial crisis first before I even think of selling my coins.

When people run from fiat it will be epic...

We don't have to wait. I've got the popcorn out for Venezuela already, and Argentina is next on the timetable.

greece, italy, spain portugal at the corner too.


Yeah, even Krugman no longer sees a "non-catastrophic" way out for Europe: http://krugman.blogs.nytimes.com/2014/10/11/europanic-2-0/

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
hdbuck
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October 11, 2014, 10:51:29 PM
 #13744

I'm waiting for the next world financial crisis first before I even think of selling my coins.

When people run from fiat it will be epic...

We don't have to wait. I've got the popcorn out for Venezuela already, and Argentina is next on the timetable.

greece, italy, spain portugal at the corner too.


Yeah, even Krugman no longer sees a "non-catastrophic" way out for Europe: http://krugman.blogs.nytimes.com/2014/10/11/europanic-2-0/

im from the eurozone, and i found this sham pretty amazing. beats the dolla imo.
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October 11, 2014, 11:00:10 PM
 #13745

The Calm Before The Storm In The Gold Market:

Quote
On November 30, Swiss citizens will go to the polls to vote on three areas; whether or not the Swiss National Bank should increase its gold reserves to 20%, that the central bank should stop selling its gold and that all its gold should be held within the country. If by any chance the Swiss people votes in favor I expect major tremors in the gold market. Just the fact that Switzerland will have to buy a large amount of gold to reach the 20% will have a major psychological effect on the gold market not to mention also the snowball effect it will have on other countries. Switzerland is a very small country but with a long history of gold ownership. A vote in favor in the Swiss Gold Initiative referendum would mean that Switzerland would have to buy 1,700 tonnes of gold. This represents 70% of annual world gold production. The Swiss National Bank has 5 years to acquire the 1,700 tonnes if the initiative passes.

http://www.zerohedge.com/news/2014-10-10/calm-storm-gold-market


NewLiberty
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October 11, 2014, 11:20:28 PM
 #13746

I'm waiting for the next world financial crisis first before I even think of selling my coins.

When people run from fiat it will be epic...

We don't have to wait. I've got the popcorn out for Venezuela already, and Argentina is next on the timetable.

Don't forget Ecuador in that region.  They are outlawing Bitcoin altogether and releasing a state sponsored cryptocurrency.  Their state currency today is at about 55% inflation per annum.
>50% per month is consider hyperinflation, so the clock is running for them.  With their weakening currency, and the strengthening dollar, they are on the path of currency failure, so this will be interesting.

Either way if their state crypto works or fails it will be bullish for bitcoin.  Bitcoin will be in Ecuador, it just won't be legal, which will allow the state to seize any they find as contraband.  (much easier said than done)

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
solex
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October 12, 2014, 12:10:49 AM
 #13747

I'm waiting for the next world financial crisis first before I even think of selling my coins.

When people run from fiat it will be epic...

We don't have to wait. I've got the popcorn out for Venezuela already, and Argentina is next on the timetable.

Don't forget Ecuador in that region.  They are outlawing Bitcoin altogether and releasing a state sponsored cryptocurrency.  Their state currency today is at about 55% inflation per annum.
>50% per month is consider hyperinflation, so the clock is running for them.  With their weakening currency, and the strengthening dollar, they are on the path of currency failure, so this will be interesting.

Either way if their state crypto works or fails it will be bullish for bitcoin.  Bitcoin will be in Ecuador, it just won't be legal, which will allow the state to seize any they find as contraband.  (much easier said than done)

Just seen this, trialing it in November. Wonder how they wrote all the software so fast..  Wink
https://www.cryptocoinsnews.com/worlds-first-national-digital-currency-trials-ecuador/

cypherdoc
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October 12, 2014, 12:55:23 AM
 #13748

Nice bid walls
Cortex7
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October 12, 2014, 01:00:39 AM
 #13749

I'm waiting for the next world financial crisis first before I even think of selling my coins.

When people run from fiat it will be epic...

We don't have to wait. I've got the popcorn out for Venezuela already, and Argentina is next on the timetable.

Don't forget Ecuador in that region.  They are outlawing Bitcoin altogether and releasing a state sponsored cryptocurrency.  Their state currency today is at about 55% inflation per annum.
>50% per month is consider hyperinflation, so the clock is running for them.  With their weakening currency, and the strengthening dollar, they are on the path of currency failure, so this will be interesting.

Either way if their state crypto works or fails it will be bullish for bitcoin.  Bitcoin will be in Ecuador, it just won't be legal, which will allow the state to seize any they find as contraband.  (much easier said than done)

Just seen this, trialing it in November. Wonder how they wrote all the software so fast..  Wink
https://www.cryptocoinsnews.com/worlds-first-national-digital-currency-trials-ecuador/

You already know Cheesy ... Just forked satoshis code, probably swapped out SHA256 for whirlpool or something and just run the whole thing on one cluster.

centralized == fail, I suppose it's cheaper than printing notes though.

FNG
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October 12, 2014, 08:12:45 AM
 #13750

For some perspective on how small bitcoin currently is

"The world’s 400 richest people lost $70.2 billion from their collective net worth this week amid a global selloff that sent the Standard & Poor’s 500 Index to its biggest weekly drop in two years."

"John Paulson, founder of New York-based Paulson & Co., dropped $1.5 billion after his funds declined as much as 11 percent last month. "

"Global equities have lost $3.5 trillion in value since reaching a record last month."

"Elon Musk lost $755 million after his Tesla Motors Inc. fell the most in three weeks yesterday after unveiling an all-wheel drive Model S and driver-assisting tools"

"Bill Gates remains the world’s richest person with a net worth of $81.8 billion. The 58-year-old Microsoft Corp. co-founder dropped $2.8 billion this week as the Redmond, Washington-based software maker tumbled 4.5 percent."

http://www.bloomberg.com/news/2014-10-10/world-s-richest-people-lose-70-billion-as-musk-falters.html?cmpid=yhoo
cypherdoc
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October 12, 2014, 04:22:33 PM
 #13751

The Selfish Mining Attack:

https://twitter.com/cypherdoc2/status/521321978037555200

Until Emin releases his code hack and it is found to be valid in practice, I think he should stop making public appearances with talks that essentially scare Bitcoin miners.  This is what occurred this weekend at Hashers United. 
Wekkel
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October 12, 2014, 06:48:24 PM
 #13752

For some perspective on how small bitcoin currently is

A real hype hasn't even occurred yet  Roll Eyes

Like this post? you can tip me (BTC) 1LGi2DMhectdFSkBid5srrnHk8WHgD3V1d or very WoW (Doge) D9p6FZQb1sKkq9hApy4tnjSduYfdnc74bb
Melbustus
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October 12, 2014, 06:53:41 PM
 #13753

The Selfish Mining Attack:

https://twitter.com/cypherdoc2/status/521321978037555200

Until Emin releases his code hack and it is found to be valid in practice, I think he should stop making public appearances with talks that essentially scare Bitcoin miners.  This is what occurred this weekend at Hashers United. 


Yeah, the problem is the degree to which he's beat the "doom" drum about this. Academics are often prone to the "it's not perfect, therefore it's crap" attitude, which is annoying (and naive). That said, the sooner academically-verified issues, including SM, are addressed, the better.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
cypherdoc
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October 12, 2014, 07:45:42 PM
 #13754

The Selfish Mining Attack:

https://twitter.com/cypherdoc2/status/521321978037555200

Until Emin releases his code hack and it is found to be valid in practice, I think he should stop making public appearances with talks that essentially scare Bitcoin miners.  This is what occurred this weekend at Hashers United.  


Yeah, the problem is the degree to which he's beat the "doom" drum about this. Academics are often prone to the "it's not perfect, therefore it's crap" attitude, which is annoying (and naive). That said, the sooner academically-verified issues, including SM, are addressed, the better.


he's using a very lame excuse that he doesn't want to be overly criticized on bitcointalk if he releases his code that supposedly leads to Bitcoiner's losing money. Roll Eyes

yet he doesn't realize he's costing Bitcoiner's money by talking in public about what he's sure is a fundamental flaw in mining.  yet, the only reason he has confidence to talk in public is b/c his hack has not been thoroughly vetted. he doesn't want to have his code hack vetted by the world community at large like the hackers of the Heartbleed and Bash bug were willing to do.  his hack has been buried for almost a year.  we need to get this out and once and for all bury this festering doubt.

the other way he causes Bitcoiner's to lose money is to the degree that altscam investors believe him.  i saw this firsthand this weekend.  "oh see, Bitcoin has this major flaw therefore i will invest in this altcoin".  he claims his hack has been vetted by a few core devs.  that may or many not be.  that's still not equivalent to releasing it into the wild for vetting according to open source principles.
justusranvier
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October 12, 2014, 08:09:13 PM
 #13755

he's using a very lame excuse that he doesn't want to be overly criticized on bitcointalk if he releases his code that supposedly leads to Bitcoiner's losing money. Roll Eyes
This is the same douchebag who announced his finding by saying "OMG Bitcoin is going to zero sell all your coins!!!" (paraphrased) on Twitter, right?
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October 12, 2014, 08:10:57 PM
 #13756

Found it: http://nakamotoinstitute.org/the-skeptics/

cypherdoc
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October 12, 2014, 08:16:08 PM
 #13757


I wasn't aware of any of that.
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October 12, 2014, 08:22:35 PM
 #13758

moving UP.
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October 12, 2014, 08:36:00 PM
 #13759

Do you have any target on gold/silver cypherdoc ?
I have to admit that i didn't believe you back in July, even if a correction clearly made sense.
Now the real question is where the bottom will be... We're not there yet, i do think PM will go down with stocks, and the correction in stocks should happen (soon ?).





Gaud, the last thing i want to do is create another massive thread like the "Gold-I smell a trap" one over in Economics that went on for 5 months.  it was just too much work.  most ppl here into gold/silver won't like what i have to say so don't bother reading further.

my views haven't changed.  i think gold/silver is a relic of the past and Bitcoin will assume its place as a new standard.  i think gold drops to $400.  i think that we are about to embark on a massive debt deleveraging phase which will be deflationary and take stocks down with it to test the March 09 lows at least.  we may drift a few more days higher in the Dow before it rolls over.  i see divergences everywhere but especially with the Transports, Russell, and ALL commodities like oil, natural gas, wheat, corn, rice, soybeans, copper and gold/silver.  the silver chart especially is busted.  the general mining stocks are telegraphing hard times ahead like FCX, TCK, BHP.  the junior miners have been devastated as in GDXJ.  GDX is following it down.

there's a good chance Wall St and the Fed are desperately trying to manipulate the Dow higher to get retail investors back in but don't buy it.  once we roll they will sell/short you into oblivion.  the Vix did an underthrow today once again to try and create complacency.

i'm going to try and not say much more as i could be wrong and i know the gold bugs are going to start swarming with the hate.


Bitcoin will replace gold in the next 10 years. Right now we are seeing a slow rise to 400. We should hit that by 10/20/14 and from there the price will slowly increase back to its ATH and possibly surpass it before the year ends. Hop on while you can everyone.

lebing
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October 12, 2014, 08:40:21 PM
 #13760

Cypher you still see gold going down medium term? My cover finger is getting itchy.

Bro, do you even blockchain?
-E Voorhees
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