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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1807766 times)
notme
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July 10, 2012, 03:15:18 AM
 #2401

What's a gold bugs worst nightmare?  BITCOIN!  Cheesy

Ridiculous statement.


can someone help me find my picture of the bespectacled fat guy struggling with the huge gold rock?


https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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cypherdoc
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July 10, 2012, 03:16:14 AM
 #2402

What's a gold bugs worst nightmare?  BITCOIN!  Cheesy

Ridiculous statement.


can someone help me find my picture of the bespectacled fat guy struggling with the huge gold rock?



how'd you find that so fast?
notme
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July 10, 2012, 03:17:52 AM
 #2403

What's a gold bugs worst nightmare?  BITCOIN!  Cheesy

Ridiculous statement.


can someone help me find my picture of the bespectacled fat guy struggling with the huge gold rock?



how'd you find that so fast?

Good memory, I guessed low, within 3 pages, and I went up from there.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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cypherdoc
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July 10, 2012, 03:18:45 AM
 #2404

What's a gold bugs worst nightmare?  BITCOIN!  Cheesy

Ridiculous statement.


can someone help me find my picture of the bespectacled fat guy struggling with the huge gold rock?



how'd you find that so fast?

Good memory, I guessed low, within 3 pages, and I went up from there.

impressive.  either a good memory or a nose for miscreanity. Cheesy
notme
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July 10, 2012, 03:20:43 AM
 #2405

It ended up being page 69 btw.  Probably some later pages too.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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silverbox
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July 10, 2012, 04:11:37 AM
 #2406

What's a gold bugs worst nightmare?  BITCOIN!  Cheesy

Ridiculous statement.


can someone help me find my picture of the bespectacled fat guy struggling with the huge gold rock?



Nice rock.. Lets say its 1/2 cubic meter..

9650 kg of gold..

~310,000 troy ounces..
*1584 USD per troy ounce.

~491 million USD..

I keep that much in my wallet on like a daily basis.. Never know know when you might want to buy Richard Bransons private island..

http://en.wikipedia.org/wiki/Necker_Island_(British_Virgin_Islands)


cypherdoc
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July 10, 2012, 04:59:05 AM
 #2407

Buys=5x Asks  Cheesy

Buys=6.5x Asks  Cheesy
cypherdoc
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July 10, 2012, 05:05:26 AM
 #2408

cypher's Rerack:

Bitcoin:  +33%

Gold:  -7%

Diff: +40% advantage Bitcoin!
notme
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July 10, 2012, 05:09:10 AM
 #2409

cypher's Rerack:

Bitcoin:  +33%

Gold:  -7%

Diff: +40% advantage Bitcoin!

We could have all saved ourselves a lot of time if you had just named the thread "Gold down.  Bitcoin exploding" Tongue.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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cypherdoc
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July 10, 2012, 02:45:25 PM
 #2410

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July 10, 2012, 03:39:57 PM
 #2411

Gold down, Bitcoin UP.

The Silverbox Update:

Gold: -7%

Bitcoin:  +34%

Diff:  +41% advantage Bitcoin

GLD:  -0.27%

GPL:  -16%
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July 10, 2012, 04:40:49 PM
 #2412

What's a gold bugs worst nightmare?  BITCOIN!  Cheesy

Ridiculous statement.

can someone help me find my picture of the bespectacled fat guy struggling with the huge gold rock?


Title: Satoshi cashed out his bitcoins 
cypherdoc
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July 10, 2012, 05:55:50 PM
 #2413

Slow grinds are the best...
cypherdoc
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July 10, 2012, 06:13:32 PM
 #2414

It's time for all Bitcoin Bears to duck...
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July 11, 2012, 03:24:32 PM
 #2415

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July 11, 2012, 03:25:44 PM
 #2416

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July 11, 2012, 04:46:42 PM
 #2417

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July 11, 2012, 05:32:31 PM
 #2418

cypher's Rerack:

Gold:  -7%

Bitcoin:  +31%

Diff:  +38% advantage Bitcoin

silverbox long GPL:  -20%

cypher shorts: 

GLD:  +0.36%
GG:  +14.39%
RGLD:  +7.68%
SLW:  +3.8%
SLV:  +3.47%
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July 11, 2012, 07:15:57 PM
 #2419

miscreanity
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July 11, 2012, 10:13:39 PM
 #2420

The rational thought is that money moves from gold into bitcoin. The only scenario I see gold out-performing bitcoin is one where the electric and internet grid go down. But even in that apocalyptic scenario, guns and bullets would be far more valuable than gold.

Two words: National Security. See: NDAA. Any excuse can be used to lock down all telecommunications services and confiscate private property. No meshnet system is realistically viable - yet.

Bitcoin will outperform gold on a relative basis. In terms of value relative to fiat, that's almost a certainty. What's irreconcilable is the notion that gold will be discarded when the vast majority of the world's human population is familiar with, and values it. Three years is not nearly enough time for Bitcoin to become fully pervasive throughout the world's societies - people simply are incapable of changing that quickly, especially in more developed societies with rigid structure.

What's more likely to happen is that Bitcoin will continue to grow after gold has reached a realistic valuation. The potential for gold to reach 10% of global financial asset value is strong, but anything far above that might not be. Bitcoin's features make it possible for the system to be used in ways that gold simply cannot, so permeation could easily equal or exceed that of gold. This may take another few years after gold's reintegration takes place around, probably post 2015. By its maximal point, a full Bitcoin could be in the million dollar range (that's 2012 dollars).

Physical gold will not be discarded as cypherdoc insists; it is being pushed into primacy by not only collective peoples from various cultures, but central banks around the world, even the BIS. Yes, Bitcoin will eventually outperform gold in absolute terms, but these things will occur during the majority of this decade, not overnight. If physical gold is ever discounted, it will be because of an inability to be maintained limited supply, not because of monetary theory that only applies to purely abstract concepts with no grounding in reality.

Finally, how many more MF Globals will it take before you wake up? Will your own trading funds have to be absconded with? Then it won't matter how high the dollar reaches, and all you'll have is your remaining physical gold and bitcoins. What if an Internet kill switch is engaged? How will you exchange your bitcoins? You can't get from here to Bitcoin ruling the world without going through the turmoil in between, and for that, there's gold - real, physical, in-your-hand gold.

People are talking about Pirate's lending operation being a Ponzi - this is the real one. So keep racking up those squiggly lines and paper profits in utterly fraudulent markets. They'll do you very well when the exchanges tell you to sod off, because the asset freezes and seizures will keep moving up the ladder to the very top. Not worth the moment-to-moment risk, IMO. There are some nasty rumours about TD Ameritrade making the rounds...

Bitcoin + physical gold/silver.

I also like the way cypherdoc has misdirected from gold to placing immense emphasis on gold related equities. Not the same thing as physical gold.

Edit: serendipitously, I just came across an article at BTC Wallet related to an Internet kill switch.
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