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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1826797 times)
Melbustus
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October 12, 2014, 08:43:26 PM
 #13761



Bitcoin price the day he said that: $205.
Bitcoin price 30 days after he said that: $1100.

^ What timing!

Bitcoin price change between then and right now, nearly a year later: +81%.
S&P change over same period: +7.5%.
Gold change over same period: -7.8%


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
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cypherdoc
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October 12, 2014, 09:33:16 PM
 #13762

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

you should've covered when i did  Tongue:

just sold off my DZZ & ZSL.  flat now, as i'm expecting a short term bounce.

there's some question as to when the daily short term bottom occurred; 9/22 or 10/6.  i'm leaning to the latter which would be confirmed if we get over the 9/23 high:



nevertheless, we're into the time interval where a weekly/interm bottom should occur.  mind you, we could get another punchdown more into the middle of the band.  but on balance, if the weekly bottom is indeed in, we could go significantly higher.  which is why i covered on 9/30:



i'm going to be looking to reinstitute my shorts, but not now.
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October 12, 2014, 09:38:39 PM
 #13763

When you say, ‘I have nothing to hide,’ you’re saying, ‘I don’t care about this right.’ You’re saying, ‘I don’t have this right, because I’ve got to the point where I have to justify it.’ The way rights work is, the government has to justify its intrusion into your rights.

http://techcrunch.com/2014/10/11/edward-snowden-new-yorker-festival/?ncid=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29
cypherdoc
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October 12, 2014, 10:04:07 PM
 #13764

shorts starting to capitulate:

cypherdoc
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October 12, 2014, 10:37:01 PM
 #13765

so, to keep the bear mkt in gold going, price shouldn't rise any higher than 1346.8:

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October 13, 2014, 01:11:46 AM
 #13766

this doesn't look so good.  3y daily Rut.  note how we've slid down the mountain into no man's land with no real support until all the way down thar to the 2nd red line:

cypherdoc
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October 13, 2014, 01:58:11 AM
 #13767

goldbugs: "oh shit".

“Decrease in prices should ideally prompt people to buy more gold. Those looking to invest in bitcoins at this time are defying the trend,” said Sivakameshwar Rao, CEO and MD of BTCX India. Mr. Rao said investors in Vijayawada, Visakhapatnam and Nellore are leading the pack. He said that while Bitcoin is yet to be adopted in a big way in India, the developments this year have been positive.

Adds G. Gurumohan Reddy, who too has been buying and selling bitcoins for about six months now, “We expect gold prices to go down further. So investing in gold is not an option. Bitcoins have the potential to appreciate in the present time. Besides, storage of gold is risky. Bitcoin is digital with a small storage risk,” he explained. 


http://www.thehindu.com/news/cities/Hyderabad/bitcoin-giving-gold-the-nudge/article6494031.ece?ref=sliderNews
fff13
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October 13, 2014, 01:59:39 AM
 #13768

Love this thread!!

Thanks doc!

BTC: 1GtZdBxbNpsLRUPcrHzDjCycEF7rkJ4Agh
cbeast
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Let's talk governance, lipstick, and pigs.


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October 13, 2014, 02:10:32 AM
 #13769

It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 13, 2014, 02:38:02 AM
 #13770


It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.

Sounds like BCX re: XMR
cypherdoc
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October 13, 2014, 02:38:05 AM
 #13771

It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.

his arguments are riddled in contradictions.

i got him to say he will release his exploit code on Nov 4 in private pm's today, one year after his paper was published.

then, he can stop publicly stop speaking about it, as i am sure it will amount to nothing.
rocks
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October 13, 2014, 05:21:39 AM
 #13772

It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.

his arguments are riddled in contradictions.

i got him to say he will release his exploit code on Nov 4 in private pm's today, one year after his paper was published.

then, he can stop publicly stop speaking about it, as i am sure it will amount to nothing.

There really isn't much here. Their work focuses on a selfish miner attack, where a miner holds back on sending found blocks to keep others working on a stale chain. They then state that such miners will win more than their fair share of block rewards until they become the majority. (which itself is doubtful)

The problem with this is it assumes a selfish miner can get the rest of the network to accept their block that they withheld, but only released after they themselves received another's new honest block.

There are lots of problems with this. I remember a year ago when articles first published these claims that many people pointed out these problems in the comments section. They responsed to these comments by essentially saying "we're right you're wrong", but never actually addressing the implementation problems people raised.

Here was one of their "response" Q&A pages they later wrote. The level of discourse was lacking IMHO.
http://hackingdistributed.com/2013/11/05/faq-selfish-mining/

Notice this key issue many raise has no answer for some reason
 "This attack requires an attacker have good network position to get its blocks accepted."
Melbustus
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October 13, 2014, 08:01:53 AM
 #13773

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

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
brg444
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Bitcoin replaces central, not commercial, banks


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October 13, 2014, 08:06:25 AM
 #13774

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

interesting insights, thanks for the link

"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
shields
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October 13, 2014, 08:57:33 AM
 #13775

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

interesting insights, thanks for the link

Greed is Bitcoins killer app. Incentivising early adoption and evangelizing by early adopters bootstraps it and provides the necessary marketing.

If you liked this post -> 1KRYhandiYsjecZw7mtdLnoeuKUYoGRkH4
600watt
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October 13, 2014, 09:34:10 AM
 #13776

Marc Andreessen gets it:



From this thread: https://twitter.com/MParekh/status/520769140189974530

interesting insights, thanks for the link

Greed is Bitcoins killer app. Incentivising early adoption and evangelizing by early adopters bootstraps it and provides the necessary marketing.

yep, and this forum is one of the marketing centers. the rumor is out that one doubles up for every 1000 bullish posts...  Wink
Zarathustra
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October 13, 2014, 09:54:01 AM
 #13777

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular

"Staat nenne ich's, wo alle Gifttrinker sind, Gute und Schlimme: Staat, wo alle sich selber verlieren, Gute und Schlimme:
Staat, wo der langsame Selbstmord aller – »das Leben« heisst."
NewLiberty
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October 13, 2014, 10:02:05 AM
 #13778

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular

Due to cherry picking graph start and end points you fail to make your point here.
Be less arbitrary in your favor.  This is not how science is 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
Pruden
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Sirius Iberia - Nos tomamos el Bitcoin en serio


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October 13, 2014, 10:22:33 AM
 #13779

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular
What a great chance to say adoption has been setting new records for months you just missed:

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=28&show_header=true&scale=0&address=

NotLambchop
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October 13, 2014, 10:58:52 AM
 #13780

The real question is whether adoption eventually will increase not only on the merchant side. Since 10 month, it doesn't.

https://blockchain.info/charts/n-transactions-excluding-popular

Due to cherry picking graph start and end points you fail to make your point here.
Be less arbitrary in your favor.  This is not how science is done.

No?



Scientist Predicts 60% Market Collapse

Quote
Chris Martenson is a world-renowned expert on identifying dangerous, yet hidden, exponential growth patterns in global economies, energy demand, and food consumption...

And he is predicting a 60% stock market collapse will strike in the next three months.

Martenson’s opinion isn’t to be taken lightly, as his research is highly regarded by the United Nations, UK Parliament, and Fortune 500 companies.

His shocking forecast is based on a new alarming pattern he’s identified — he’s calling it “a dreaded triple top” (pictured below).





I think this gonna be the much needed boost for bitcoin in the comming months.





Cheesy Cheesy Cheesy
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