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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1806865 times)
smoothie
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LEALANA Monero Physical Silver Coins


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August 18, 2012, 07:11:26 PM
 #2861

Gold:  -4%

Bitcoin:  +181%

Diff:  +185%  advantage Bitcoin



hmmmm..

Never seen gold crash like this..  EVER.

I'm pretty bummed actually.  Nothing is gonna stop this train ride down..  5-6 before the end of the weekend could be here.

Sucks.

are you that desperate to promote silver and gold that you'd throw Bitcoin under the bus?

You didn't see ^^^.

I'm actually quite glad it stopped at 10 and made it back to 12, but unfortunately I think we may be in for more of a drop.

If pirate defaults, there will be no golden goose paying 7% a week to bring in Fiat to the BTC system.

If pirate unwinds and pays out, there will be tons of BTC being sold to cash out.

I see BTC dropping in price for quite a while as the fallout of pirate closing up perks thru the system.




And here I thought that pirate was paying out in bitcoins not fiat. I know what you're going to say...he's been buying on the open market right? Well if that is so then he is short on either USD or BTC....either way he is fucked.

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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin-Qt, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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miscreanity
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August 18, 2012, 07:57:02 PM
 #2862

Quiet, professional accumulation...

Bitcoin should see some major volatility as Pirate exits. Maybe $2+ daily ranges, or 10-20% and then some.
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August 18, 2012, 08:16:59 PM
 #2863

To preserve my faith in humanity I hope we find that the purchasing and subsequent rise of BTC was caused not by these get-rich-quick schemes but due to capital flight from the unstable fiat currencies (which given the US debt is basically ALL of them -- the smart $ knows this whether the media is reporting that or not).

If so I think a lot of investors will be seeing this as a fortuitous buying opportunity.  But given fiat transfer times its going to take until late next week before the majority of their accounts get funded.  Look for a big rally then  Smiley




When is the last time the USD dropped 30%, in like an hour..

I think just maybe BTC is a bit more unstable then Fiat Wink.
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August 18, 2012, 08:26:01 PM
 #2864


When is the last time the USD dropped 30%, in like an hour..

I think just maybe BTC is a bit more unstable then Fiat Wink.


A currency cannot be unstable. A currency pair can be unstable. USDBTC has been highly unstable in the past period.

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August 18, 2012, 08:31:37 PM
 #2865

To preserve my faith in humanity I hope we find that the purchasing and subsequent rise of BTC was caused not by these get-rich-quick schemes but due to capital flight from the unstable fiat currencies (which given the US debt is basically ALL of them -- the smart $ knows this whether the media is reporting that or not).

If so I think a lot of investors will be seeing this as a fortuitous buying opportunity.  But given fiat transfer times its going to take until late next week before the majority of their accounts get funded.  Look for a big rally then  Smiley




When is the last time the USD dropped 30%, in like an hour..

I think just maybe BTC is a bit more unstable then Fiat Wink.


lol, maybe I should have said perceived unstable... but I'm sure all you goldbugs know what I mean... I'm splitting hairs between the connotations of unstable verses volatility.   Specifically, the foundation of these fiat currencies seems to be pretty unstable of late (esp. the euro) even though the massive numbers of users and quantity of the fiat currencies reduces price volatility measured against other currencies or commodities.



  
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August 19, 2012, 02:40:26 PM
 #2866

for posterity.

Full disclosure:

I liquidated 75% of my BTC holdings over the last 2 days.  Ranging from 14 to 11 usd each.

I am waiting to buy back in.

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August 19, 2012, 05:01:48 PM
 #2867

"I want you all to hear personally from me that all is well in the Dollar household," Fiat Dollar said.

Legends tell of musclebeasts once roaming the cosmos that were so enormous, they could destroy entire planets with but a twitch of any anatomical feature. Are the legends true?

You hope so.

1GtaD3PfgRfNjxCe1oYJyRNrSfPZZEux9t
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August 19, 2012, 06:14:19 PM
 #2868


If you think that dealing with some tiny Agama agama has given you problems then you are absolutely clueless and are going to make a great snack for some velociraptor. And just wait until those velociraptors start hunting the bitcoin markets in packs. Then pirate or cypherdoc becomes the snack!  Shocked

yep, that's me!  smaaall, sleek, and faaast!



Munch munch!

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August 19, 2012, 06:17:53 PM
 #2869


If you think that dealing with some tiny Agama agama has given you problems then you are absolutely clueless and are going to make a great snack for some velociraptor. And just wait until those velociraptors start hunting the bitcoin markets in packs. Then pirate or cypherdoc becomes the snack!  Shocked

yep, that's me!  smaaall, sleek, and faaast!



Munch munch!

nope.  no buying on the way up and no selling on the way down.  net net still UP. Cheesy
miscreanity
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August 19, 2012, 08:00:12 PM
 #2870

nope.  no buying on the way up and no selling on the way down.  net net still UP. Cheesy

Nibbling...

So what's the score?

Daily buy signals are screaming, but I want to see how the next few days play out.
muyuu
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August 19, 2012, 08:28:14 PM
 #2871

Where's the AUXBTC graph?

GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
forum tea fund BTC 1Epv7KHbNjYzqYVhTCgXWYhGSkv7BuKGEU DOGE DF1eTJ2vsxjHpmmbKu9jpqsrg5uyQLWksM CAP F1MzvmmHwP2UhFq82NQT7qDU9NQ8oQbtkQ
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August 19, 2012, 08:42:31 PM
 #2872

nope.  no buying on the way up and no selling on the way down.  net net still UP. Cheesy

Nibbling...

So what's the score?

Daily buy signals are screaming, but I want to see how the next few days play out.

Lotsa people probably have no option but to wait for a few days due to the issues of moving fiat into BTC no matter what their preference.

---

On a tangent, I feel that the recent action in BTC is highly favorable to an outcome of becoming wealthy from them.  As I've mentioned, if I have no plans to either buy or sell during a window, the price moves within that window are irrelevant.  I've mentioned this with respect to PM's mostly, but it stands just the same for BTC and fit's my situation over the last few days.

The recent action shows several things:

 - outrageous volatility

 - very promising upside potential.

 - the above two in absence of a system failure

 - a price pattern quite unlike at least a Ponzi form of scam

While I continue to expect to realize a 100% loss as a basis for my speculative investment in Bitcoin, the last few weeks have eroded my believe that 100% loss is the most probable outcome and have enhanced my estimate of the chances of a jackpot outcome (which I define as $1000's/BTC.)

I think the last few weeks also illustrate that in terms of choosing a vehicle for simple storage of wealth, gold and Bitcoin are really not good replacements for one another at this time.  I find it hard to imagine a rational investment adviser counseling to have a nest-egg in something as volatile as Bitcoin no matter what it's other pros and cons.  On the other hand, I'm getting to the point where I would advocate it as a reasonable speculative gamble for other people who have a situation similar to my own.


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August 20, 2012, 02:17:35 AM
 #2873

nope.  no buying on the way up and no selling on the way down.  net net still UP. Cheesy

Was not referring to you.  Wink

The tree has been shaken hard, the trading action has been brutal and bitcoins are flowing out of some people's wallets...

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August 20, 2012, 02:37:25 AM
 #2874

nope.  no buying on the way up and no selling on the way down.  net net still UP. Cheesy

Was not referring to you.  Wink

The tree has been shaken hard, the trading action has been brutal and bitcoins are flowing out of some people's wallets...

Munch, munch! Cheesy
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August 20, 2012, 12:26:33 PM
 #2875

Missed my Londom AM mark. They sold it down just over $2. NY kicked it back up a buck. trend still down for the day.


If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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August 20, 2012, 06:20:26 PM
 #2876

AAPL  Biggest stock ever!!

http://www.cnbc.com/id/48725478
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August 20, 2012, 06:49:26 PM
 #2877

Pretty funny. Say you were given the choice of owning Apple or owning Exxon Mobile. Who in their right mind would choose Apple? Well, the market (and therefore the majority of the people) apparently.

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August 20, 2012, 07:30:00 PM
 #2878

Still waiting for an update on percentages... Smiley
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August 20, 2012, 07:32:36 PM
 #2879

Still waiting for an update on percentages... Smiley
Me too, cypherdoc tends to become quite humble and quiet once the price doesn't go his way. Grin

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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August 20, 2012, 07:36:25 PM
 #2880

I'll do it:

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 8/20

Bitcoin 9.60 (up ~78%)

Gold 1622  (down ~4%)

BTC is No longer double digits! , Gold is inching back to parity (It's collapsing upwards!!).  BTC is outperforming gold.


GPL 1.77  (Silver lg  @ 1.98)

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