Gold collapsing. Bitcoin UP.

[Vladimir]

ribosomes are so ruthless, LOL

[1714315756]

1714315756

[1714315756]

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[cypherdoc]

ribosomes are so ruthless, LOL

nom, nom, nom, nom. 

[Vladimir]

It is a living organism - much like a virus.

More than that, it creates a foundation (along with other distributed networks) for something much greater than a new financial system

I think that almost nobody will realize when it happens, at least not right away. The shift will probably be too subtle, seeming like an incremental advance rather than a monumental change.

Yes, indeed. This potential is often missed. Bitcoin is not only the first monetary system ever proposed that credibly offers perfect information to all participants, it is the first system humanity has implemented which can serve as an authoritative record that's not under any single entity's control. I believe there are some proposals for "smart property" and "distributed markets" based on bitcoin kicking around. I think as you're alluding to miscreanity, numerous core functions of society could start getting offloaded to blockchain-style p2p systems, one by one, until it's central to civilization. The tide would indeed be slow and subtle, but quite powerful.

yep, some people do get it.

[cypherdoc]

ya know, that pissy little Penny Bot needs to be taught a lesson. 

i should write an Anti-Penny Bot.

[miscreanity]

From Antal Fekete at 24hgold:

The Chinese are alive to the fact that escaped the silver bugs in the West, that you can derive a silver income from your pile of silver by covered short selling, even while retaining physical control of your silver hoard.

A while back (don't have time to dig up the posts at the moment), we had discussed the potential of China being a major participant in market shorting while simultaneously accumulating physical assets. This bleeds western financial institutions while simultaneously increasing eastern strength. Realization of this is arriving too late for most.

Yes, Bitcoin is on a meteoric rise relative to everything else; even with an instantaneous revaluation of the monetary precious metals, the cryptocurrency will outperform. This is not an issue of contention. However, Bitcoin still has at least a year or two before it is widespread enough to realistically be a direct competitor for contemporary currencies in the sense that it might be used for daily purchases and transactions.

In the meantime, load up on some SD

[bitcoinBull]

From Antal Fekete at 24hgold:

The Chinese are alive to the fact that escaped the silver bugs in the West, that you can derive a silver income from your pile of silver by covered short selling, even while retaining physical control of your silver hoard.

That's not income, just money you aren't losing. Besides, if silver decides to go up, then you lose your pile being short.

Yes, Bitcoin is on a meteoric rise relative to everything else; even with an instantaneous revaluation of the monetary precious metals, the cryptocurrency will outperform. This is not an issue of contention. However, Bitcoin still has at least a year or two before it is widespread enough to realistically be a direct competitor for contemporary currencies in the sense that it might be used for daily purchases and transactions.

I hope this reference to "contemporary currency" is not a reference to gold/silver. "at least a year or two before they're as widespread as dollars" is not a reason to prefer PMs over bitcoin. So why mention "contemporary currencies", and really, what's more contemporary than bitcoin?

If "might be used in daily contemporary life" is the value judgement, then PMs are completely ruled out, not even possibly an alternative. Maybe in an apocalyptic doomsday scenario, but certainly not a daily contemporary one.

[oakpacific]

From Antal Fekete at 24hgold:

The Chinese are alive to the fact that escaped the silver bugs in the West, that you can derive a silver income from your pile of silver by covered short selling, even while retaining physical control of your silver hoard.

That's not income, just money you aren't losing. Besides, if silver decides to go up, then you lose your pile being short.

Yes, Bitcoin is on a meteoric rise relative to everything else; even with an instantaneous revaluation of the monetary precious metals, the cryptocurrency will outperform. This is not an issue of contention. However, Bitcoin still has at least a year or two before it is widespread enough to realistically be a direct competitor for contemporary currencies in the sense that it might be used for daily purchases and transactions.

I hope this reference to "contemporary currency" is not a reference to gold/silver. "at least a year or two before they're as widespread as dollars" is not a reason to prefer PMs over bitcoin. So why mention "contemporary currencies", and really, what's more contemporary than bitcoin?

If "might be used in daily contemporary life" is the value judgement, then PMs are completely ruled out, not even possibly an alternative. Maybe in an apocalyptic doomsday scenario, but certainly not a daily contemporary one.

If you just short your silver you won't lose anything, other than dollars that you don't want.(at the risk of default of course)

[comboy]

I have no idea what this thread is about, but judging from the title I thought you be interested in this: https://bitcoinity.org/charts/gold

I'm sorry if it's not really relevant.

[notme]

From Antal Fekete at 24hgold:

The Chinese are alive to the fact that escaped the silver bugs in the West, that you can derive a silver income from your pile of silver by covered short selling, even while retaining physical control of your silver hoard.

That's not income, just money you aren't losing. Besides, if silver decides to go up, then you lose your pile being short.

I think the implication is that if they short sell it to someone in the West while still holding the physical they can quite easily steal it as soon as the markets start to get volatile.  "Sorry,we are bankrupt".... what are you going to do, fly to China and kick some ass?

[tvbcof]

I have no idea what this thread is about, but judging from the title I thought you be interested in this: https://bitcoinity.org/charts/gold

I'm sorry if it's not really relevant.

It's utterly relevant and, like your other work, appreciated.  Even to someone who holds a lot more gold than BTC

[oakpacific]

From Antal Fekete at 24hgold:

The Chinese are alive to the fact that escaped the silver bugs in the West, that you can derive a silver income from your pile of silver by covered short selling, even while retaining physical control of your silver hoard.

That's not income, just money you aren't losing. Besides, if silver decides to go up, then you lose your pile being short.

I think the implication is that if they short sell it to someone in the West while still holding the physical they can quite easily steal it as soon as the markets start to get volatile.  "Sorry,we are bankrupt".... what are you going to do, fly to China and kick some ass?

Besides, hardly anybody buying the options would expect China to deliver him physical silver, which China could still use for whatever purpose she likes, including minting coins as mentioned in the article, which could be used for the delivery itself should she be required to do so.

[comboy]

I have no idea what this thread is about, but judging from the title I thought you be interested in this: https://bitcoinity.org/charts/gold

It's utterly relevant and, like your other work, appreciated.  Even to someone who holds a lot more gold than BTC

Thanks a lot

[cypherdoc]

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

Bitcoin:  +311%

Gold:  -1%

GPL:  -25% silverbox long

Diff:  +312% advantage Bitcoin and growing

[Vladimir]

This thread's name is kind of wrong. Who the hell cares about gold? I am more interested if there is any other asset on this damn planet that performed better than Bitcoin during last 4, 3, 2, 1 years, or 8, 6, 4, 2, 1 month or any other period of time?

Nevermind, I'll wait until we get to 4 digits before I get really excited.

[tvbcof]

This thread's name is kind of wrong. Who the hell cares about gold? ...

It's a big Internet...and amusing that someone would home in to a particular thread of a particular board of a particular forum of a particular domain to complain about the OP title.  But I always appreciate being amused.  So, thx

---

Separately, I wish to god that you were not so mute on the ASIC stuff as one of the few people who would probably have something to say which is worth focusing on relative to the topic.  OTOH, I'm finally past my interest in the topic for now I think.

[cypherdoc]

This thread's name is kind of wrong. Who the hell cares about gold? ...

It's a big Internet...and amusing that someone would home in to a particular thread of a particular board of a particular forum of a particular domain to complain about the OP title.  But I always appreciate being amused.  So, thx

---

Separately, I wish to god that you were not so mute on the ASIC stuff as one of the few people who would probably have something to say which is worth focusing on relative to the topic.  OTOH, I'm finally past my interest in the topic for now I think.

that's actually a good point.

what say u Vlad?

[Vladimir]

1. I am very happy that someone got amused. My "complaints" are very much tongue in cheek as usual and so amusement is the best I could hope for. LOL

2. I have not much to say about ASIC's because I am not in ASIC game for a while now. Back in May/June I have decided that I will let other ASIC players to play this dog eat dog game without me and I would better hold on to BTC.

Considering that those ASIC players had to invest their money back then when BTC fetched about 5$ they now need to at least quadruple their money just to catch up on to their cost of lost opportunity. Good luck with that.

[cypherdoc]

My "complaints" are very much tongue in chick

 

[Vladimir]

LOL

[cypherdoc]

1. I am very happy that someone got amused. My "complaints" are very much tongue in cheek as usual and so amusement is the best I could hope for. LOL

2. I have not much to say about ASIC's because I am not in ASIC game for a while now. Back in May/June I have decided that I will let other ASIC players to play this dog eat dog game without me and I would better hold on to BTC.

Considering that those ASIC players had to invest their money back then when BTC fetched about 5$ they now need to at least quadruple their money just to catch up on to their cost of lost opportunity. Good luck with that.

that's actually pretty smart of you.  you didn't even mention the labor and headache involved in such a project as well.

otoh, if they do it right, they could make millions.