Gold collapsing. Bitcoin UP.

[smoothie]

$16.70

Cypher stop slacking!

Post now now now lol

[1714225954]

1714225954

[molecular]

$16.70

Cypher stop slacking!

Post now now now lol

yawn.

[hazek]

Kinda wish I didn't buy 2 oz in mid December before the correction and bought BTC instead :s Btw I bought BTC too just worth a lot less than 2oz of Au.

[cypherdoc]

Kinda wish I didn't buy 2 oz in mid December before the correction and bought BTC instead :s Btw I bought BTC too just worth a lot less than 2oz of Au.

don't fret; you weren't the only one.  i present to you, your predecessor (Disc Mod):

You seem really butthurt over everything.  Bagholder?

Ouch you are, https://bitcointalk.org/index.php?topic=49159.msg586961#msg586961

So sorry, good luck with that.  

6/7 days up.

You have a ridiculously short memory. Up from...$2.5? Nice. Good luck recovering your losses. What you buy at, $28?

Not only that, sold his gold to invest in btc.  True believer bagholder right here.    

Watching cypherdoc get more and more frantic every day is pretty hilarious.  At least it would be if it weren't so sad.  

its ok.  double bottoms are not uncommon.  the blockchain marches on.

RISK ON!  LOL

Any day now the money is going to come pouring in, you'll see, you'll see...

Yes all those investors just sitting around waiting for the right moment to dump millions into bitcoins.  Reminds me of that hilarious post cypher made earlier in this thread: 

i can easily see professional investors looking over the table:

Q:  whats this over here, Bitcoin?  i thought it was done?

A:  no, still hanging around.

Q:  didn't it get hacked?

A:  the exchange did but the source code didn't.

Q:  is Gavin still around?

A:  yes.

Q:  how about those other guys, Stefan Thomas, Amir Taaki, and Jeff Garzik?

A:  they're still there too.

Q:  God, i thought they would've given up by now if Bitcoin really was a ponzi.

A:  nope.

Q:  any improvements in security?

A:  tons.  consumers are now protected by encryption and mtgox hasn't suffered another attack.

Q:  really?  how much is it now?

A:  $2

Q:  you're kidding.  didn't you say it acts like gold?  a limited supply?

A:  yes

Q:  well, our gold/silver plays aren't doing so well.

A:  lets pour a few million into Bitcoin.  its oversold and maybe we can get a short squeeze going.

ANY DAY GUYS THINK POSITIVE!

[tvbcof]

Hey Cyph.  I am, for all intents and purposes, now at break even on my early BTC purchases.  IIRC you are similar.  Worth the wait and abuse, eh?  As always, the cost to me was zero since I had no alternate plans for the USD I had kicking around.  Same with PM's in my case.

It would actually surprise me if we didn't see a drop which would negate my good fortunes for a time...and possibly indefinitely.  I still have no expectation of needing the USD for some time, and still feel that there is nowhere I'd rather be than sitting on a mix of Bitcoin secret keys safely tucked away and PM's similarly protected.  I continue to have my BTC speculation dwarfed by my PM savings but with enough of both to capitalized on any future upswings.  And more importantly, to protect against more mainstream failures.

I continue to make no apologies for bias toward PM's.  It is calculated base on my own personal 'risk analytics', and I have enough BTC to make sure I have a great big grin on my face every time the price moves upwards.

[cypherdoc]

Hey Cyph.  I am, for all intents and purposes, now at break even on my early BTC purchases.  IIRC you are similar.

my all in average cost is $6.50, so i'm good, as are you.

Worth the wait and abuse, eh?  As always, the cost to me was zero since I had no alternate plans for the USD I had kicking around.  Same with PM's in my case.

yes, we're quite similar in that regard.  while it would hurt to lose that money, at least i don't need it right now.

It would actually surprise me if we didn't see a drop which would negate my good fortunes for a time...and possibly indefinitely.  I still have no expectation of needing the USD for some time, and still feel that there is nowhere I'd rather be than sitting on a mix of Bitcoin secret keys safely tucked away and PM's similarly protected.

i think there's a real good chance we'll stay over $15.26 since this is the THIRD time we've come up and thru this price with the last time August 2012 witnessing a violent retrace.  not this time.

I continue to have my BTC speculation dwarfed by my PM savings but with enough of both to capitalized on any future upswings.  And more importantly, to protect against more mainstream failures.

i'm just the opposite. but i can't fault anyone for hoarding gold/silver as i thought the stock mkt would've tanked by now.  but like Curbside Prophet mentioned in another thread, i think the next Black Swan is out there sometime soon and that could really propel Bitcoin up to the next level.

I continue to make no apologies for bias toward PM's.  It is calculated base on my own personal 'risk analytics', and I have enough BTC to make sure I have a great big grin on my face every time the price moves upwards.

again, i don't fault that but i still haven't covered my gold/silver short  

[tvbcof]

Hey Cyph.  I am, for all intents and purposes, now at break even on my early BTC purchases.  IIRC you are similar.

my all in average cost is $6.50, so i'm good, as are you.

I mean, I may have bought a few BTC off e-bay or bitmarket.eu for North of $16, but it was about here that I got comfortable wiring money to Tradehill and really started tanking up.  So, even my early purchases which were horribly under-water for so long are now in the black.  I think we both continued to tank up all the way until the low point and thus got our average cost basis down into the $6 range.  Would have been better to be an early adopter and mined a bunch, but I'll take second best if I can get it.

To bad for the folks who didn't listen to us (and mainly you) when we were arguing that Bitcoin was not necessarily dead.  Or at least it currently seems to be the case...don't want to jinx anything ya know.

[cypherdoc]

...don't want to jinx anything ya know.

 

[molecular]

I (think I) actually delight in a situation where someone legitimately calls me out on a mis-statement or situation where I've gone so far out on a limb that I lack comfort.  Molecular got me just today on another post.  In most such cases I have to think or research overtime to recover, and that is where I get my most valuable insights.

In case we're talking about the same post it seems you actually plan to do this reasearch in that case. I hope you will share the insight . I find it impressive that you don't just brush it off. Just admitting to have been sloppy in thinking or too quick in typing and or even to just not care enough to elaborate would suffice for most. I must agree it can be really valuable to dig in deep in such a case and spend the effort and you have all my respect for not brushing it off. It's what lazy me probably would've done... with no insight to gain. You got me thinking about my own behaviour at times. Thanks.

[cypherdoc]

the silverbox update (comparison from the beginning of this thread):

Bitcoin:  +225%

Gold:  0%

GPL:  -19% silverbox long

Diff:  +225% advantage Bitcoin and growing.

[robamichael]

When silver goes up just a bit, I'm delighted.

The BTC climbs at this staggering rate, and I have all sorts of conflicting thoughts.

[cypherdoc]

When silver goes up just a bit, I'm delighted.

The BTC climbs at this staggering rate, and I have all sorts of conflicting thoughts.

well, you know what.  this thread has been all about gold but i've never taken the time to show you the difference btwn the performance of silver vs. Bitcoin since i made my exchange back in the Spring of 2011.  i've made it clear that my average cost out from selling silver was $44 and that i started buying Bitcoin @ $1.60.  here are the figures:

Silver:  -27%

Bitcoin:  +987%

Diff:  +1014% advantage Bitcoin.

[tvbcof]

When silver goes up just a bit, I'm delighted.

The BTC climbs at this staggering rate, and I have all sorts of conflicting thoughts.

well, you know what.  this thread has been all about gold but i've never taken the time to show you the difference btwn the performance of silver vs. Bitcoin since i made my exchange back in the Spring of 2011.  i've made it clear that my average cost out from selling silver was $44 and that i started buying Bitcoin @ $1.60.  here are the figures:

Silver:  -27%

Bitcoin:  +987%

Diff:  +1014% advantage Bitcoin.

I think that what got a lot of us going was that by it's very title of the thread is about gold collapsing.  A lot of us thought it unlikely and continue to feel it unlikely a year later.  As long as it doesn't happen it makes for a long-running thread, and one of my favorites on the forum since it has touched so many subjects.

In my case, and probably most of the other readers who also have a BTC stash, your picking up for silverbox updates showing awesome Bitcoin figures are delightful.  I should dig back in the thread and figure out how to do another year-over-year analysis if I were not so lazy.

An interesting artifact which is currently a little mis-leading but good propaganda would also be a Jan-1 data-point plot of USD/BTC values.  It should show a pretty clean rise in BTC values since it, by happenstance, avoids the 2011 bubble.  I expect that to be leveragable for mainstream purposes going forward, though it is unclear to me even when/if I will ever be (again) excited about Bitcoin cast before the public eye.  The 'casting pearls before swine' concept is only a small part of my reluctance to hope for this.

[cypherdoc]

When silver goes up just a bit, I'm delighted.

The BTC climbs at this staggering rate, and I have all sorts of conflicting thoughts.

well, you know what.  this thread has been all about gold but i've never taken the time to show you the difference btwn the performance of silver vs. Bitcoin since i made my exchange back in the Spring of 2011.  i've made it clear that my average cost out from selling silver was $44 and that i started buying Bitcoin @ $1.60.  here are the figures:

Silver:  -27%

Bitcoin:  +987%

Diff:  +1014% advantage Bitcoin.

I think that what got a lot of us going was that by it's very title of the thread is about gold collapsing.  A lot of us thought it unlikely and continue to feel it unlikely a year later.  As long as it doesn't happen it makes for a long-running thread, and one of my favorites on the forum since it has touched so many subjects.

yeah, the title is provocative.  i probably should have titled it "Gold collapsing relative to Bitcoin".  whereas i actually DO think the possibility for gold/silver to collapse is still there as displayed by my ongoing short position, i must admit that the likelihood for that is waning.  this clearly has been a direct result of the extent to which TPTB have been willing to throw all laws and rightful accounting practices out the window and thus the common ppl under the bus to prevent deflation.  it's extraordinary and i think that payback time will one day come as i don't think TPTB can control markets forever.  this is where i differ from the inflationists.  volatility is built into the system even as we see the VIX drop to multi-year low levels of 12.31 and i think deflation will get its turn eventually.  but its a slow process.

In my case, and probably most of the other readers who also have a BTC stash, your picking up for silverbox updates showing awesome Bitcoin figures are delightful.  I should dig back in the thread and figure out how to do another year-over-year analysis if I were not so lazy.

An interesting artifact which is currently a little mis-leading but good propaganda would also be a Jan-1 data-point plot of USD/BTC values.  It should show a pretty clean rise in BTC values since it, by happenstance, avoids the 2011 bubble.  I expect that to be leveragable for mainstream purposes going forward, though it is unclear to me even when/if I will ever be (again) excited about Bitcoin cast before the public eye.  The 'casting pearls before swine' concept is only a small part of my reluctance to hope for this.

if you do this you might want to start from the Jan 2009 date that Bitcoin was born.

[molecular]

yeah, the title is provocative.  i probably should have titled it "Gold collapsing relative to Bitcoin". 

or maybe "bitcoin vs. gold".

Of course that would probably not have resulted in such nicely heated debating.

[Hexadecibel]

maybe its about time to lock this thread and make another one.

[cypherdoc]

KABOOM AGAIN

come to Bitcoin Baby, come to Bitcoin.

[oakpacific]

Kinda wish I didn't buy 2 oz in mid December before the correction and bought BTC instead :s Btw I bought BTC too just worth a lot less than 2oz of Au.

don't fret; you weren't the only one.  i present to you, your predecessor (Disc Mod):

You seem really butthurt over everything.  Bagholder?

Ouch you are, https://bitcointalk.org/index.php?topic=49159.msg586961#msg586961

So sorry, good luck with that.  

6/7 days up.

You have a ridiculously short memory. Up from...$2.5? Nice. Good luck recovering your losses. What you buy at, $28?

Not only that, sold his gold to invest in btc.  True believer bagholder right here.    

Watching cypherdoc get more and more frantic every day is pretty hilarious.  At least it would be if it weren't so sad.  

its ok.  double bottoms are not uncommon.  the blockchain marches on.

RISK ON!  LOL

Any day now the money is going to come pouring in, you'll see, you'll see...

Yes all those investors just sitting around waiting for the right moment to dump millions into bitcoins.  Reminds me of that hilarious post cypher made earlier in this thread: 

i can easily see professional investors looking over the table:

Q:  whats this over here, Bitcoin?  i thought it was done?

A:  no, still hanging around.

Q:  didn't it get hacked?

A:  the exchange did but the source code didn't.

Q:  is Gavin still around?

A:  yes.

Q:  how about those other guys, Stefan Thomas, Amir Taaki, and Jeff Garzik?

A:  they're still there too.

Q:  God, i thought they would've given up by now if Bitcoin really was a ponzi.

A:  nope.

Q:  any improvements in security?

A:  tons.  consumers are now protected by encryption and mtgox hasn't suffered another attack.

Q:  really?  how much is it now?

A:  $2

Q:  you're kidding.  didn't you say it acts like gold?  a limited supply?

A:  yes

Q:  well, our gold/silver plays aren't doing so well.

A:  lets pour a few million into Bitcoin.  its oversold and maybe we can get a short squeeze going.

ANY DAY GUYS THINK POSITIVE!

If I were you, I would not wasteng my time arguing with losers, cause all they can do now is to talk.

[cypherdoc]

Kinda wish I didn't buy 2 oz in mid December before the correction and bought BTC instead :s Btw I bought BTC too just worth a lot less than 2oz of Au.

don't fret; you weren't the only one.  i present to you, your predecessor (Disc Mod):

You seem really butthurt over everything.  Bagholder?

Ouch you are, https://bitcointalk.org/index.php?topic=49159.msg586961#msg586961

So sorry, good luck with that.  

6/7 days up.

You have a ridiculously short memory. Up from...$2.5? Nice. Good luck recovering your losses. What you buy at, $28?

Not only that, sold his gold to invest in btc.  True believer bagholder right here.    

Watching cypherdoc get more and more frantic every day is pretty hilarious.  At least it would be if it weren't so sad.  

its ok.  double bottoms are not uncommon.  the blockchain marches on.

RISK ON!  LOL

Any day now the money is going to come pouring in, you'll see, you'll see...

Yes all those investors just sitting around waiting for the right moment to dump millions into bitcoins.  Reminds me of that hilarious post cypher made earlier in this thread: 

i can easily see professional investors looking over the table:

Q:  whats this over here, Bitcoin?  i thought it was done?

A:  no, still hanging around.

Q:  didn't it get hacked?

A:  the exchange did but the source code didn't.

Q:  is Gavin still around?

A:  yes.

Q:  how about those other guys, Stefan Thomas, Amir Taaki, and Jeff Garzik?

A:  they're still there too.

Q:  God, i thought they would've given up by now if Bitcoin really was a ponzi.

A:  nope.

Q:  any improvements in security?

A:  tons.  consumers are now protected by encryption and mtgox hasn't suffered another attack.

Q:  really?  how much is it now?

A:  $2

Q:  you're kidding.  didn't you say it acts like gold?  a limited supply?

A:  yes

Q:  well, our gold/silver plays aren't doing so well.

A:  lets pour a few million into Bitcoin.  its oversold and maybe we can get a short squeeze going.

ANY DAY GUYS THINK POSITIVE!

If I were you, I would not wasteng my time arguing with losers, cause all they can do now is to talk.

yes, but back then it was not clear who the loser exactly was.  you have no idea what kinda shitfest existed here on this very forum back in those dark days.

[cypherdoc]

yes, but back then it was not clear who the loser exactly was.  you have no idea what kinda shitfest existed here on this very forum back in those dark days.

It was quite clear for me. His name started with "N" and ended with "agle".

Bwahahahahahaha!