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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1807538 times)
zeetubes
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October 15, 2014, 03:52:16 AM
 #13881

This article (pointed to me via zerohedge) describes the current bitcoin market exactly.

A Game of Sentiment

http://www.salientpartners.com/epsilontheory/post/2013/11/03/A-Game-of-Sentiment

"who will get the most votes when all the voters are basing their votes on who they think will get the most votes? This is the Sentiment game!"

and

"We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher degrees." (originally Keynes).

That's every market, all the time.

I would guess markets on goods with less exchange value and more direct use value, where storage and transaction costs relative to goods value is higher, with a high degree of production and consumption compared to storage, are different.


That was a great read. The USD, which is probably the biggest traded and used "item" worldwide, is manipulated as hell and anything that is traded in USD - which is just about everything - has no real chance of price discovery. I have seen 10+ valid explanations for the drop in the price of oil, but because the world of finance is so fucked up, not a single economist/analyst has suggested it may be simply supply and demand, which could also be a valid reason. I wonder if bitcoins became as ubiquitous as the USD whether things would change.

The article reminded of a something a lecturer said from when I was learning Pascal, many eons ago: "In order to fully understand recursion, first you must fully understand recursion." 
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October 15, 2014, 04:05:18 AM
 #13882

This article (pointed to me via zerohedge) describes the current bitcoin market exactly.

A Game of Sentiment

http://www.salientpartners.com/epsilontheory/post/2013/11/03/A-Game-of-Sentiment

"who will get the most votes when all the voters are basing their votes on who they think will get the most votes? This is the Sentiment game!"

and

"We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher degrees." (originally Keynes).

That's every market, all the time.

I would guess markets on goods with less exchange value and more direct use value, where storage and transaction costs relative to goods value is higher, with a high degree of production and consumption compared to storage, are different.


That was a great read. The USD, which is probably the biggest traded and used "item" worldwide, is manipulated as hell and anything that is traded in USD - which is just about everything - has no real chance of price discovery. I have seen 10+ valid explanations for the drop in the price of oil, but because the world of finance is so fucked up, not a single economist/analyst has suggested it may be simply supply and demand, which could also be a valid reason. I wonder if bitcoins became as ubiquitous as the USD whether things would change.

The article reminded of a something a lecturer said from when I was learning Pascal, many eons ago: "In order to fully understand recursion, first you must fully understand recursion." 
The sentiment game is played within usd markets but there is no real alternative to where sound money should be placed based on real demand metrics. That is, the next alternative is just as bad as the "everyones" favourite. Bitcoin is simply clawing its way into the sentiment battle by being an alternative to usd and the rigged game by the phonies on wallstreet. As more and more people realize its strengths and Id argue smart money already knows about usd weaknesses then it slowly shifts trend over to bitcoin and the likes.. its all about governments giving green light for bitcoin to do business in their jurisdiction. Once that is in place watch out.. but by then someone with alot of money will be already well positioned and prices will reflect that news already.

That is also the time that bitcoin becomes the obvious chioce as the "everyone knows" and wins the sentiment game.

Gold is manilulated because of phony supply and no trail or visibility of who owns what.
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October 15, 2014, 04:38:52 AM
 #13883

"Labor senator Sam Dastyari has warned Australian banks not to “act like a bunch of ostriches” with their “heads in the sand” when confronting the rise of bitcoins"

"He did, however, concede there were certain parts of the banking sector that realised they had to address the rise of digital currencies, because “it’s the future”."

http://www.afr.com/p/technology/banks_cannot_ignore_rise_of_bitcoins_c1aioJPkDoTz4i670c44CJ

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October 15, 2014, 04:54:09 AM
 #13884

India still likes the gold

"Gold imports surged five-fold to $3.75 billion in September on account of the ongoing festive season. Gold imports stood at $682.5 million in the same month last year."

http://profit.ndtv.com/news/economy/article-gold-imports-zoom-to-3-75-billion-in-september-679542
molecular
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October 15, 2014, 04:55:37 AM
 #13885

Bitcoin compares to fiat base money; notes and cons.

lol. Freudian mistake?

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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October 15, 2014, 09:36:33 AM
 #13886

India still likes the gold

"Gold imports surged five-fold to $3.75 billion in September on account of the ongoing festive season. Gold imports stood at $682.5 million in the same month last year."

http://profit.ndtv.com/news/economy/article-gold-imports-zoom-to-3-75-billion-in-september-679542

India, China, Russia love their Gold and the Chinese economy is going very well; they are the first world economy in PPA

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Let's talk governance, lipstick, and pigs.


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October 15, 2014, 11:52:12 AM
 #13887

India still likes the gold

"Gold imports surged five-fold to $3.75 billion in September on account of the ongoing festive season. Gold imports stood at $682.5 million in the same month last year."

http://profit.ndtv.com/news/economy/article-gold-imports-zoom-to-3-75-billion-in-september-679542

India, China, Russia love their Gold and the Chinese economy is going very well; they are the first world economy in PPA
They also share a secret love for tungsten.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
cypherdoc
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October 15, 2014, 01:36:14 PM
 #13888

Dow - 290
cypherdoc
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October 15, 2014, 01:38:35 PM
 #13889

Dow- 335

 crash time
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October 15, 2014, 01:40:26 PM
 #13890

-361

someone wake up Janet
fewcoins
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October 15, 2014, 01:50:24 PM
 #13891

-361

someone wake up Janet

Dow was way over priced above 17k let alone 17.5k
Same way bitcoin is currently over priced at 400... Everything is crashing to the real value! Including gold!!!
cypherdoc
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October 15, 2014, 01:57:03 PM
 #13892

Moar black hole shit.  this one looks juicy, however.

To ones self:  "Do...not.........shooooort, do not shooooooort."

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October 15, 2014, 01:58:15 PM
 #13893

-361

someone wake up Janet

Dow was way over priced above 17k let alone 17.5k
Same way bitcoin is currently over priced at 400... Everything is crashing to the real value! Including gold!!!

blah, blah, blah
NotLambchop
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October 15, 2014, 02:05:18 PM
 #13894

You can't hide, Bitcoiner!



You've been reported.
cypherdoc
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October 15, 2014, 02:09:50 PM
 #13895

You can't hide, Bitcoiner!



You've been reported.

Bitcoin unaffected!
NewLiberty
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October 15, 2014, 02:12:12 PM
 #13896

Bitcoin compares to fiat base money; notes and cons. Some important traits of bitcoin is better. Some are not so good. What can we do? Anybody can produce bitcoin notes and coins, and back them with real bitcoins. Even better, we can make cryptocoins and notes with hidden secret keys, they don't need backing. Not possible for fiat.

We do not have credit or debit cards. We don't need them for remote payment. Are there something with cards that is better? In that case, the market will supply bitcoin credit or debit cards, and they will be just as good.

We can't lose this!


Exactly what use would I have for bitcoin notes and coins  Huh
If you have no friends to whom you can give gifts, and never see people in person, you can always use them as cool cold storage wallets

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
NotLambchop
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October 15, 2014, 02:18:41 PM
 #13897

You can't hide, Bitcoiner!



You've been reported.

Bitcoin unaffected!

No.  You, on the other hand...


cypherdoc
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October 15, 2014, 02:20:52 PM
 #13898


If you have no friends to whom you can give gifts, and never see people in person, like MyLambChop...
cypherdoc
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October 15, 2014, 02:22:01 PM
 #13899

https://twitter.com/cypherdoc2/status/522389300487651328
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October 15, 2014, 04:12:08 PM
 #13900

this doesn't look so good:

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