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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1806439 times)
muyuu
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August 23, 2012, 01:28:05 AM
 #2941

In addition, the order book is much thinner on the buy side then the ask side, so the natural pressure is to go down atm.

That is the assumption .....

That is a fact.

Look for yourself.

http://bitcoin.clarkmoody.com/

Not really. Only orders close to the bid/ask count. There's always people with orders left in silly expensive asks and silly cheap bids.

http://btccharts.com/#m=mtgox-BTC-USD

In other currencies the bid side is remarkably heavier https://intersango.com/orderbook.php and has been since the drop. Net BTC leaving the US I guess.

GPG ID: 7294199D - OTC ID: muyuu (470F97EB7294199D)
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Killerpotleaf
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August 23, 2012, 01:32:42 AM
 #2942

In addition, the order book is much thinner on the buy side then the ask side, so the natural pressure is to go down atm.

That is the assumption .....

That is a fact.

Look for yourself.

http://bitcoin.clarkmoody.com/

The assumption is that the order book will cause "natural pressure" to "go down" if it is much thinner on the buy side, not that the order book is much thinner on the buy side then the ask side.

Uh.. Sunnankar put "much thinner on the buy side" in italics..

Ahh... my apologies. Perhaps he is referring to the visible order book then?

maybe he means hidden depth?
like if we go down to 9.00 a  F' load of new bid might appear at 8.50 ?
molecular
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August 23, 2012, 05:33:50 AM
 #2943

BTC is barely hanging on after the CRASH (It'll plummet like a rock if Pirate starts paying in any meaningful fashion.)

I don't get why BTC is supposed to plunge if Pirate pays. Just to release the panic and drama?
I am waiting some coins from Pirate and have no intentions to sell if I get them, even if I could make some fast bucks cheap.

Yeah, I don't get it either... isn't it much more probable the money would flow into other dividend-paying assets? Why buy Dollars... it makes no sense except for speculation to sell them again for even more coins.

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Melbustus
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August 23, 2012, 07:49:14 AM
 #2944

...
Well, isn't all this gold/bitcoin has value thing a mass illusion anyhow?
...


No. There's very little else that has the same properties as gold (a handful of other precious metals, really), and nothing else that has the property-set of bitcoin. The value/utility is due to those properties. I feel like you're kind of alluding to the fact that gold and bitcoin are not commodity money (ie, you can't eat them, burn them, whatever), and therefore lack fundamental value. The commodity-money folks miss the boat, in my opinion. Money should have properties that make it good money....being useful in industry or whatever is a totally different concern. Stuff with traditional 'good-money' properties (eg, divisibility/unit-of-account, limited supply, durability, etc, etc) have utility because of those properties - they make commerce more liquid - and bitcoin does it all better than gold while adding a bunch of really nice modern-transactional properties.

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
silverbox
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August 24, 2012, 03:34:20 AM
 #2945

Gold did rather nicely today Wink
miscreanity
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August 24, 2012, 03:44:12 AM
 #2946

Gold did rather nicely today Wink

Now we have to see how well it does going into the weekend close.

Hope everyone took advantage of the 3rd best daily buying opportunity in Bitcoin history a few days ago...



There might be a few more shocks. If so, gold will start closing the gap.
Killerpotleaf
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August 24, 2012, 03:46:36 AM
 #2947

Gold did rather nicely today Wink

gold have been doing "nicely" for 10 years.

^ Bubble!



"gold have been used as money for 1000's of years"
"Protect your money"
bla bla bla



nothing in the history of man has been over valued, like gold has the past few years.

Stephen Gornick
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August 24, 2012, 07:15:32 AM
 #2948

i think we've all been duped.  NASAA says it best:

Quote

The North American Securities Administrators Association (NASAA) today released its annual list of financial products and practices that threaten to trap unwary investors.

[...]

Persistent Threats

Gold and Precious Metals.

The hype surrounding gold, silver and other precious metals continues despite both the fact that these investments are just as vulnerable to risk as others, and signs that some precious metal markets are declining or increasingly turbulent. The promise of continuing increases in value pitched by high-profile celebrities on television, radio or the Internet too often lure unsuspecting investors into any number of scams. Often, scams begin with an unsolicited communication such as an email or telephone call offering to sell investors gold coins, bullion, bars or other forms of the precious metal that the promoter will hold in safekeeping for the investor. Far too often, the gold simply does not exist.

Increases in the value of precious metals during the recession have led unwary consumers to believe that the value will perpetually increase. Like any risky investment, there are no guarantees. In fact, gold declined by 15 percent between March and June of 2012 (a drop in value of more than $200 per ounce), settling at its lowest point since July of 2011.

 - http://www.nasaa.org/14679/laws-provide-con-artists-with-personal-economic-growth-plan/

 Roll Eyes

bitcool
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August 24, 2012, 11:47:13 AM
 #2949


Gold did rather nicely today Wink

gold have been doing "nicely" for 10 years.
 
^ Bubble!
 
"gold have been used as money for 1000's of years"
"Protect your money"
bla bla bla



nothing in the history of man has been over valued, like gold has the past few years.

cypherdoc
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August 24, 2012, 07:55:59 PM
 #2950

Bullish flag forming; Adam HIT the BUY button!  Wink
ElectricMucus
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August 24, 2012, 08:10:39 PM
 #2951

nothing in the history of man has been over valued, like gold has the past few years.

You know all those tales about once ounce of gold being able to buy one gentlemens suit.
There is also a saying here: "Ein Dukat bedeckt Rappe und Reiter." That can either mean that amount (one ducat is ~1/9 oz) can be forged thin enough to cover the surface area of both a man and a horse or pay one mercenary.

That should give you an idea on historic value.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
molecular
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August 24, 2012, 08:21:04 PM
 #2952

nothing in the history of man has been over valued, like gold has the past few years.

You know all those tales about once ounce of gold being able to buy one gentlemens suit.
There is also a saying here: "Ein Dukat bedeckt Rappe und Reiter." That can either mean that amount (one ducat is ~1/9 oz) can be forged thin enough to cover the surface area of both a man and a horse or pay one mercenary.

hm? "bedeckt Rappe und Reiter"? Maybe buy clothes and garments for both of them?

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ElectricMucus
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August 24, 2012, 08:27:56 PM
 #2953

nothing in the history of man has been over valued, like gold has the past few years.

You know all those tales about once ounce of gold being able to buy one gentlemens suit.
There is also a saying here: "Ein Dukat bedeckt Rappe und Reiter." That can either mean that amount (one ducat is ~1/9 oz) can be forged thin enough to cover the surface area of both a man and a horse or pay one mercenary.

hm? "bedeckt Rappe und Reiter"? Maybe buy clothes and garments for both of them?

Makes sense, but still if I'd sold that ducat out of my wallet now I would certainly not get one battle dress uniform for it.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
silverbox
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August 25, 2012, 02:16:35 PM
 #2954

I bought back most of my BTC the last couple days.  I was considering waiting for the weekend, but it looks unlikely that Pirate is gonna do much of anything but stall.  I shoulda bought for high 7s last Sunday Wink.  Oh well buying back for high 9s, low 10s when I sold for more gives me more coins then I had before Wink
loadrs2009
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August 25, 2012, 03:10:12 PM
 #2955

I think it will hit 1800 http://www.forexpros.com/commodities/gold-technical
STRONG BUY  Grin i wish i didn't sell my gold Smiley

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cypherdoc
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August 25, 2012, 05:03:43 PM
 #2956

I bought back most of my BTC the last couple days.  I was considering waiting for the weekend, but it looks unlikely that Pirate is gonna do much of anything but stall.  I shoulda bought for high 7s last Sunday Wink.  Oh well buying back for high 9s, low 10s when I sold for more gives me more coins then I had before Wink


smart move.  no $5-6 here.  Wink
WorldOfBitcoin
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August 25, 2012, 07:09:55 PM
 #2957

I admit my bitcoin performed much better when i bough at 8.8 and sold at 15. But my gold holdings are doing quite well; not collapsing.
cypherdoc
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August 25, 2012, 07:13:02 PM
 #2958

I admit my bitcoin performed much better when i bough at 8.8 and sold at 15. But my gold holdings are doing quite well; not collapsing.

its not over.
miscreanity
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August 25, 2012, 07:15:52 PM
 #2959

I admit my bitcoin performed much better when i bough at 8.8 and sold at 15. But my gold holdings are doing quite well; not collapsing.
its not over.

Absolutely. The $3k level isn't far off, and that's just a stepping stone. Smiley
cypherdoc
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August 25, 2012, 07:26:04 PM
 #2960

I admit my bitcoin performed much better when i bough at 8.8 and sold at 15. But my gold holdings are doing quite well; not collapsing.
its not over.

Absolutely. The $3k level isn't far off, and that's just a stepping stone. Smiley

i'd say be real careful.  there are warning signs.
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