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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804011 times)
silverbox
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November 03, 2012, 01:49:22 PM
 #3541

So I've been thinking that were just coasting along after the QE forever drifting slightly downwards waiting...  The next thing that is going to be a major influence I believe is the election..

I think that if Romney wins, PM's will not do as well as if Obama wins.

BTC I don't believe will be effected by the election, its next big thing is the delivery of ASICs and the block reward halving, I'm not sure either will have a big effect, but I think that if they do it will be upwards.
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MooC Tals
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November 03, 2012, 02:04:19 PM
 #3542

Gold collapsing? I don't follow the metal prices. Link?


ya i agree gold is due for a Major correction.

Gold Line keeps calling me telling me its not a bubble ...

Gold is not going up. It's the dollar that's losing value.

If anything in the marketplace should be the yardstick of value, it is gold, not USD. So you should price USD in terms of gold and you will see a very different picture. Don't let the "upward run" of gold deceive you. Gold isn't changing, the dollars are.
I agree gold is the yard stick the world measures wealth.  How ever the economy needs credit in the form of a currency to satisfy liquity. This is why bitcoin is more of a threat to central banks then gold. They have all the gold. 

Sometimes when gold goes down it's due to the dollar getting stronger.
Stephen Gornick
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November 03, 2012, 04:27:36 PM
 #3543

January through October, 2012.  Cumulative, percentage basis.



 - https://docs.google.com/spreadsheet/oimg?key=0AmcTCtjBoRWUdEgxb0lEb1h1M2htM05sY0pXd3FXQ2c&oid=3&zx=phpxuw8vp9sy

Monthly data:
 - https://docs.google.com/spreadsheet/ccc?key=0AmcTCtjBoRWUdEgxb0lEb1h1M2htM05sY0pXd3FXQ2c

Daily time-series:
 - https://docs.google.com/spreadsheet/ccc?key=0AmcTCtjBoRWUdHJuUE1mUkFxa3A0eHBDQkxZLVVFZmc

cypherdoc
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November 03, 2012, 05:14:44 PM
 #3544

here's an interesting fact.  

we've had 70 straight weeks of upward revisions to the Initial Claims Report for unemployment:  http://biz.yahoo.com/c/terms/claims.html

if you'd bet $0.01 each week that we'd get an upward revision while reinvesting the profits you'd now have accumulated $0.01 x 2^70 = $11,805,916,207,174,113,034.24
molecular
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November 03, 2012, 05:44:24 PM
 #3545

here's an interesting fact.  

we've had 70 straight weeks of upward revisions to the Initial Claims Report for unemployment:  http://biz.yahoo.com/c/terms/claims.html

if you'd bet $0.01 each week that we'd get an upward revision while reinvesting the profits you'd now have accumulated $0.01 x 2^70 = $11,805,916,207,174,113,034.24

lol. how do you come up with this stuff?

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creativex
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November 03, 2012, 05:57:17 PM
 #3546

here's an interesting fact.  

we've had 70 straight weeks of upward revisions to the Initial Claims Report for unemployment:  http://biz.yahoo.com/c/terms/claims.html

if you'd bet $0.01 each week that we'd get an upward revision while reinvesting the profits you'd now have accumulated $0.01 x 2^70 = $11,805,916,207,174,113,034.24

Obvious goobermint liars are...obvious. Anything to keep the house of cards standing a little longer.

https://bitcointalk.org/index.php?topic=130982.msg1401799#msg1401799 - [BTC-TC]bASIC-MINING
http://forum.litecoin.net/index.php/topic,886.0.html - [LTC-GLOBAL]LTC-DMF
http://forum.litecoin.net/index.php/topic,817.msg3279.html#msg3279 - [CRYPTOSTOCKS]AGLTC

BTC: 1Hfp99tugY4H5FYEoM3hj4JDLzShzZ9ifB

You have zero chance of changing others and only a slim chance at changing yourself. Be the change you want to see and others may follow.
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November 03, 2012, 06:12:13 PM
 #3547

here's an interesting fact.  

we've had 70 straight weeks of upward revisions to the Initial Claims Report for unemployment:  http://biz.yahoo.com/c/terms/claims.html

if you'd bet $0.01 each week that we'd get an upward revision while reinvesting the profits you'd now have accumulated $0.01 x 2^70 = $11,805,916,207,174,113,034.24

actually, i didn't state that quite right:  if you'd initially bet $0.01 starting in June of 2011, double or nothing, and reinvested the winnings each week for the 70 straight weeks since then, you'd be sitting on a profit of $11,805,916,207,174,113,034.24.
adamstgBit
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November 03, 2012, 06:15:15 PM
 #3548

here's an interesting fact.  

we've had 70 straight weeks of upward revisions to the Initial Claims Report for unemployment:  http://biz.yahoo.com/c/terms/claims.html

if you'd bet $0.01 each week that we'd get an upward revision while reinvesting the profits you'd now have accumulated $0.01 x 2^70 = $11,805,916,207,174,113,034.24

actually, i didn't state that quite right:  if you'd initially bet $0.01 starting in June of 2011, double or nothing, and reinvested the winnings each week for the 70 straight weeks since then, you'd be sitting on a profit of $11,805,916,207,174,113,034.24.

what comes after trillion?

bitcoin?

 Cheesy

MatthewLM
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November 03, 2012, 06:56:39 PM
 #3549

Inhale deeply.  The sweet smell of Deflation.  Wink

I must admit I'm not an American but I can tell you prices are going up in the UK. You can see it with fuel and food prices.

Pretty much every American I've heard says it is happening in the US too, so don't get too excited over your dollars.

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molecular
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November 03, 2012, 07:07:07 PM
 #3550

here's an interesting fact.  

we've had 70 straight weeks of upward revisions to the Initial Claims Report for unemployment:  http://biz.yahoo.com/c/terms/claims.html

if you'd bet $0.01 each week that we'd get an upward revision while reinvesting the profits you'd now have accumulated $0.01 x 2^70 = $11,805,916,207,174,113,034.24

actually, i didn't state that quite right:  if you'd initially bet $0.01 starting in June of 2011, double or nothing, and reinvested the winnings each week for the 70 straight weeks since then, you'd be sitting on a profit of $11,805,916,207,174,113,034.24.

And you would've won a balls-of-steel award for not pulling out a week earlier at $5,902,958,103,587,056,517

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molecular
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November 03, 2012, 07:08:00 PM
 #3551

here's an interesting fact.  

we've had 70 straight weeks of upward revisions to the Initial Claims Report for unemployment:  http://biz.yahoo.com/c/terms/claims.html

if you'd bet $0.01 each week that we'd get an upward revision while reinvesting the profits you'd now have accumulated $0.01 x 2^70 = $11,805,916,207,174,113,034.24

actually, i didn't state that quite right:  if you'd initially bet $0.01 starting in June of 2011, double or nothing, and reinvested the winnings each week for the 70 straight weeks since then, you'd be sitting on a profit of $11,805,916,207,174,113,034.24.

what comes after trillion?

bitcoin?

 Cheesy

Love it!

What comes after a Trillion Dollars?

huh?

yes, A BITCOIN Wink

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molecular
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November 03, 2012, 07:10:23 PM
 #3552

Inhale deeply.  The sweet smell of Deflation.  Wink

I must admit I'm not an American but I can tell you prices are going up in the UK. You can see it with fuel and food prices.

Pretty much every American I've heard says it is happening in the US too, so don't get too excited over your dollars.

Looking at the USDX it seems the other FIAT currencies should experience roughly the same rate of debasing.

Consumer prices seem high to me more frequently and for a wider range of products lately, so I think shit is finally trickling down. I expect this to increase.

Is honey a good indicator? For some unknown reason I think that is the case.

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lebing
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Bitcoin: The honey badger of currencies


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November 03, 2012, 07:19:38 PM
 #3553

Inhale deeply.  The sweet smell of Deflation.  Wink

I must admit I'm not an American but I can tell you prices are going up in the UK. You can see it with fuel and food prices.

Pretty much every American I've heard says it is happening in the US too, so don't get too excited over your dollars.

Looking at the USDX it seems the other FIAT currencies should experience roughly the same rate of debasing.

Consumer prices seem high to me more frequently and for a wider range of products lately, so I think shit is finally trickling down. I expect this to increase.

Is honey a good indicator? For some unknown reason I think that is the case.


Honey is an interesting case, but not for reasons of deflation. Bees are dying all over the world (particularly where GMOs are grown), so using this as an indicator for macroeconomics might not be the best case. Using it as an indicator for much larger shit going down around the world, sure.

Bro, do you even blockchain?
-E Voorhees
molecular
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November 03, 2012, 07:23:01 PM
 #3554

Inhale deeply.  The sweet smell of Deflation.  Wink

I must admit I'm not an American but I can tell you prices are going up in the UK. You can see it with fuel and food prices.

Pretty much every American I've heard says it is happening in the US too, so don't get too excited over your dollars.

Looking at the USDX it seems the other FIAT currencies should experience roughly the same rate of debasing.

Consumer prices seem high to me more frequently and for a wider range of products lately, so I think shit is finally trickling down. I expect this to increase.

Is honey a good indicator? For some unknown reason I think that is the case.


Honey is an interesting case, but not for reasons of deflation. Bees are dying all over the world (particularly where GMOs are grown), so using this as an indicator for macroeconomics might not be the best case. Using it as an indicator for much larger shit going down around the world, sure.

Point taken.

I still like that swedish guy who is backing a local currency with honey: http://blogs.sweden.se/sustainability/2011/10/06/honey-is-the-new-money-in-lund/

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MatthewLM
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November 03, 2012, 07:35:34 PM
 #3555

In October 2012 I spent £213.94 in supermarkets. In October 2011 I spent £197.26. I put that down to either an 8% price inflation or I'm drinking more wine...

BTW: I would have spent more in October 2012 but there was a period of a few days where I did not need to spend as much, so there is an underestimation in price or wine inflation.

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molecular
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November 03, 2012, 07:38:40 PM
 #3556

In October 2012 I spent £213.94 in supermarkets. In October 2011 I spent £197.26. I put that down to either an 8% price inflation or I'm drinking more wine...

BTW: I would have spent more in October 2012 but there was a period of a few days where I did not need to spend as much, so there is an underestimation in price or wine inflation.

Statistically not relevant, but I'm assuming 7-10% price inflation myself, just by pulling various sources together using my stomach.

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lebing
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Bitcoin: The honey badger of currencies


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November 03, 2012, 07:42:15 PM
 #3557

In October 2012 I spent £213.94 in supermarkets. In October 2011 I spent £197.26. I put that down to either an 8% price inflation or I'm drinking more wine...

BTW: I would have spent more in October 2012 but there was a period of a few days where I did not need to spend as much, so there is an underestimation in price or wine inflation.

Statistically not relevant, but I'm assuming 7-10% price inflation myself, just by pulling various sources together using my stomach.

Yep, this about right I would say

Bro, do you even blockchain?
-E Voorhees
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November 03, 2012, 07:50:28 PM
 #3558

My post was a bit of a joke but prices aren't only going up for me. There is high inflation in the UK, no doubt.

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labestiol
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November 03, 2012, 11:45:14 PM
 #3559

here's an interesting fact.  

we've had 70 straight weeks of upward revisions to the Initial Claims Report for unemployment:  http://biz.yahoo.com/c/terms/claims.html

Ha ha, nice stat ! Someone should look for GDP revisions, there might be a bias too  Grin

Looking at the USDX it seems the other FIAT currencies should experience roughly the same rate of debasing.

Consumer prices seem high to me more frequently and for a wider range of products lately, so I think shit is finally trickling down. I expect this to increase.

Is honey a good indicator? For some unknown reason I think that is the case.


Not only there's a problem with bees, but i wouldn't consider honey fungible. There's an infinity of honeys out there, depending on the strain of bees and the kind of nectar they are collecting. And I'm not talking about honey debasement (cut with syrup, the cheap shit you can find in stores)


To come back on the eternal inflation/deflation debate, I have to admit US administration did a good job so far at keeping stocks from collapsing while keeping oil (and metals) from exploding. Probably not sustainable, but nicely done. We'll see how things evolve after the election, and in which way.
The results will probably don't matter much, though an interesting fact is that Wall Street is clearly rooting for Romney (including the (in)famous Goldman Sachs), and that Obama seems to be in the lead (at least according to InTrade, and looking at campaign contributions).

I still have troubles thinking Goldman Sachs doesn't rule the world, but maybe some things might change in a few months.

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cypherdoc
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November 05, 2012, 02:43:35 PM
 #3560

Dollar Rally.
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