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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805827 times)
zanzibar
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January 28, 2015, 10:28:55 PM
 #20761

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.

That's fine, don't mind if it's treated as a stock/commodity, as long as you can trade it on Wall Street, then we will see some real $ in BTC.
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January 28, 2015, 11:18:16 PM
 #20762

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.

That's fine, don't mind if it's treated as a stock/commodity, as long as you can trade it on Wall Street, then we will see some real $ in BTC.

yep, keep the big picture and long term in mind.
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January 28, 2015, 11:21:33 PM
 #20763

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.

That's fine, don't mind if it's treated as a stock/commodity, as long as you can trade it on Wall Street, then we will see some real $ in BTC.

yep, keep the big picture and long term in mind.

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.
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January 28, 2015, 11:26:13 PM
 #20764

Wish BTC would stop plummeting.  It's being dominated by day traders.

The DOW drops on bad news, the Asian market reacts, and guess what dumps on Chinese exchanges almost simultaneously?  Yep, bitcoin.

It's still being treated as a stock/commodity.

That's fine, don't mind if it's treated as a stock/commodity, as long as you can trade it on Wall Street, then we will see some real $ in BTC.

yep, keep the big picture and long term in mind.

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

maybe, no guarantees.

but too early to come to any conclusions.  maybe not enough turmoil yet.
Spaceman_Spiff
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January 28, 2015, 11:27:24 PM
 #20765

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.
zanzibar
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January 29, 2015, 12:36:12 AM
 #20766

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's
kodtycoon
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January 29, 2015, 03:14:41 AM
 #20767

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash. 
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's

they are already pumping the shit out of it in the media.. non stop interviews, articles etc day after day the last week or two.. and all of it very positive stuff.

"Pioneering a revolutionary novel consensus mechanism called proof of importance."
Torque
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January 29, 2015, 03:31:56 AM
 #20768

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's

Average Joes don't pump BTC to $10K.  First the whale pumpers do, THEN Average Joe starts buying at the higher price.
traderCJ
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January 29, 2015, 04:03:00 AM
 #20769

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's

It's a shared ledger, so it really is none of those things.  You might use it as those things, but then again I can do the same with seashells or rocks.
marcus_of_augustus
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January 29, 2015, 04:15:53 AM
 #20770

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

It's difficult to treat Bitcoin like anything specifically because it's a stock, commodity, asset, currency, fuel, all in one.  It can thrive in any environment.  If Wall Streets starts buying, expect BTC to be in the $10k's

It's a shared ledger, so it really is none of those things.  You might use it as those things, but then again I can do the same with seashells or rocks.

"shared ledger" is only half the picture (the tally), the privately-held keys being the other (ownership) half.

Trader Steve
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January 29, 2015, 04:17:27 AM
 #20771

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

Yes, I think the likely scenario is that, as the global slow-down continues, money will flow to the dollar first since it is perceived by many as the safest asset.
flipstyle
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January 29, 2015, 04:24:12 AM
 #20772



Yes, I think the likely scenario is that, as the global slow-down continues, money will flow to the dollar first since it is perceived by many as the safest asset.

Then precious metals and housing secondly, as they will always maintain 'some' intrinsic value.  

Trust me, in a true SHTF scenario, NOBODY is going to want or care for bitcoin.  They're going to want food, shelter, clothing, and nationally recognized currency that will be accepted anywhere with historical usage that extends back thousands of years: silver and gold.
traderCJ
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January 29, 2015, 04:52:20 AM
 #20773

"shared ledger" is only half the picture (the tally), the privately-held keys being the other (ownership) half.

It's a shared ledger that requires a private key to sign valid transactions.  But it's a shared ledger nonetheless.  To see the private keys as another "half" of Bitcoin muddles the issue.  You'd be right if you said the other half is the protocol that governs access to the ledger.
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January 29, 2015, 04:56:37 AM
 #20774

"shared ledger" is only half the picture (the tally), the privately-held keys being the other (ownership) half.

It's a shared ledger that requires a private key to sign valid transactions.  But it's a shared ledger nonetheless.  To see the private keys as another "half" of Bitcoin muddles the issue.  You'd be right if you said the other half is the protocol that governs access to the ledger.

you sound muddled, and I don't have time to explain it fully. Best, but well done it is indeed a shared ledger, glad you got that bit figured out.

cypherdoc
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January 29, 2015, 04:56:51 AM
 #20775

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

Yes, I think the likely scenario is that, as the global slow-down continues, money will flow to the dollar first since it is perceived by many as the safest asset.

i would actually look the hell out with this strategy.  i have a sell signal on the dollar.
sidhujag
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January 29, 2015, 05:08:08 AM
 #20776

Yeah, but you guys keep mentioning that if the worldwide stock markets tank, people will dump stocks and flock to bitcoin as a hedge (like they do gold).  But if they treat bitcoin like a stock, then it will get dumped too.

Personally, I think this is the most likely scenario as well. ATM bitcoin is like a very risky commodity.  Things would have to get really really ugly (like breaking some major rules thereby breaking trust in traditional systems) for bitcoin to become a 'safe haven' in case of a financial crash.  
Five or ten years from now, that might be a different story.

Yes, I think the likely scenario is that, as the global slow-down continues, money will flow to the dollar first since it is perceived by many as the safest asset.

i would actually look the hell out with this strategy.  i have a sell signal on the dollar.

I have a big bold buy signal.. both stocks and usd will fly until they dont we will all know when it is here.. the crash will be easy to see question is who will be prepared for it? It has to suck in avg joes first and when that happens big boys offload and with system breaking they will look for an out.. not sure when that is but the event will be epic and hard not to see
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January 29, 2015, 05:32:04 AM
 #20777


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.

just gonna put this right here on page one thousand and something.
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January 29, 2015, 05:36:33 AM
 #20778


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.

just gonna put this right here on page one thousand and something.


lawl.  Such foresight.  Much tin foil.  Wow!

Gold to 400 and bitcoin to el moon they said.  Buy buy buy!!
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January 29, 2015, 05:40:32 AM
 #20779


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.

just gonna put this right here on page one thousand and something.


lawl.  Such foresight.  Much tin foil.  Wow!

Gold to 400 and bitcoin to el moon they said.  Buy buy buy!!

since March 13, 2012, Bitcoin has destroyed Gold.  theZerg ought to give us an update.
flipstyle
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January 29, 2015, 05:45:57 AM
 #20780


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.

just gonna put this right here on page one thousand and something.


lawl.  Such foresight.  Much tin foil.  Wow!

Gold to 400 and bitcoin to el moon they said.  Buy buy buy!!

since March 13, 2012, Bitcoin has destroyed Gold.  theZerg ought to give us an update.

Well I can't fault you on your pick and choose time frame.  You're right on that.  Gold has not crashed to the depths you speak of, though.  Not even close.  Now the question is, how many people such as yourself had the foresight to buy in big before the rise (many of which had potential realized profits devoured by the Gox debacle).  My guess is you're in the minority.
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