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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2032123 times)
thezerg
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April 09, 2013, 02:15:49 AM
 #4641

...tomorrow as I will be flying to San Fran)

You gonna stay for the conference? http://www.bitcoin2013.com/

Nope... bummer huh?  flying on the company's dime.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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cypherdoc (OP)
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April 09, 2013, 10:40:48 AM
 #4642

Gold down.  Bitcoin UP.
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April 09, 2013, 12:49:53 PM
 #4643

Thanks to everyone's recommendations, after some reading and researching I finally bought from Bitcoin Commodities. It also took less time to have the gold in my hands than the average time it takes for an exchange to wire money to my bank account. As a precious metal virgin, my next experiment will be trying to sell it. Any recommendations about how/where to sell and what to expect?
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April 09, 2013, 05:09:40 PM
 #4644

we need an update  Cheesy
thezerg
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April 10, 2013, 04:57:31 AM
 #4645

Wow!  Leave you guys for 18 hours...

the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, Bitcoin=5.4):
Bitcoin is 240.11.  Gold is 1585.00
Bitcoin: 4346.48%
Gold:    -6.21%
Diff:  4641% advantage Bitcoin and Growing
cypherdoc (OP)
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April 10, 2013, 12:25:28 PM
 #4646

Gold DOWN.  Bitcoin UP.
Operatr
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April 10, 2013, 12:42:20 PM
 #4647

What have we done...

Oh right, created Internet software that is currently drowning Gold's price in a bathtub full of tears

 Grin Grin Grin Grin

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April 10, 2013, 08:14:47 PM
 #4648

Gold beaten hard.

Bitcoin collapsing badly.

Nobody called the top this time...

Articoli bitcoin: Il portico dipinto
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April 10, 2013, 08:20:08 PM
 #4649

Gold beaten hard.

Bitcoin collapsing badly.

Nobody called the top this time...

I just had a peek at the stock market which I rarely do (my having no horse in that race) and it seems to be doing swimmingly today.


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marcus_of_augustus
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April 10, 2013, 09:23:51 PM
 #4650

Bitcoin's percentage move action today is ultra bullish for the medium long term. (I wish I wasn't writing this because it is my best rational analysis of markets but the absolute figures involved conjure up emotions and make it sound like pumping and bubble-licious talk ... but some people might like to hear it.)

I thought I was dreaming when I saw the stilletto it painted at $25-20 correction (25% stilletto in matter of minutes) and thought to myself this sucker is going to $50 maybe $75 or higher ... then it did the same thing again when it touched $50 for first time and retreated to $36 (25%) and then bounced back in next to no time ...  these stilletto patterns all the way are evidence of more money waiting to get in basically "buying the dips" analysis but a little more sophisticated analysis of post dip action ... it is not the collapse that is the tell it is all in the bounce back and follow through. Sawtooth trading analysis is something very similar from commodities bull runs that uses similar patterns.

Now, today it just dropped from $260 to ~$110 and is bouncing back by almost 80-100% off the low ... this is a mother-of-all stilletto pattern that has got my hands shaking. We could easily be going north of $1000 in the medium term and bodes for higher again in the longer term.

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April 10, 2013, 09:38:13 PM
 #4651


For what it's worth, here is my analysis cribbed from an e-mail I sent do an associated earlier today:

----------

Such bounces are common in big buys or sells because there is a large no-mans land between the two liquidity.

One possibility and something I've been anticipating is that if/when big money enters, they'll have the will, ability, and need to shake out the flighty geeks and petty criminals who hold much of the currency base.  This pretends, however, that they have formed some sort of a cooperative relationship with one another which might be a challenge.  Certain of the money seem likely to me to be prone to eat one another's lunch, but no party has an unlimited appetite (except perhaps the fed.)

Another possibility is that there is a technical glitch.  I watch the #bitcoin-dev IRC, but when serious things happen, the half dozen developers who actually mean anything can and do disappear to handle the issues more efficiently.  This may be happening now.

Most of the time I never understand or can appreciate the forces which cause such things to happen.  Things are currently so unstable that pretty significant events can probably be explained by chaos alone.

BTW, and you may have already realized this, but if you have secret keys you control value in the block chain.  I consider the block chain to be fairly independent of the protocol, and likely to form at least part of the basis of value in whatever thing or things crawl out of the smoking crater should Bitcoin collapse.


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miscreanity
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April 11, 2013, 01:14:25 AM
Last edit: April 11, 2013, 01:40:31 AM by miscreanity
 #4652

Gold DOWN.  Bitcoin UP.

It sure got quiet here quick. Not at all surprising how some of the same methods used for gold price suppression have been aimed at Bitcoin and had the same result of knocking prices down; not through any issue with Bitcoin itself, but the surrounding infrastructure.
Zangelbert Bingledack
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April 11, 2013, 01:54:20 AM
 #4653

Manipulation and price suppression don't work on strong hands. In the case of Bitcoin, it's all a game played againts the weaks hands, usually ending in carnage for them. It may actually be a good thing since it reduces volatility by injecting little stillettos to prick any mini-bubbles.
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April 11, 2013, 02:04:01 AM
 #4654

Bitcoin Up and gold catching up.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
notme
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April 11, 2013, 02:05:18 AM
 #4655

Manipulation and price suppression don't work on strong hands. In the case of Bitcoin, it's all a game played againts the weaks hands, usually ending in carnage for them. It may actually be a good thing since it reduces volatility by injecting little stillettos to prick any mini-bubbles.

I'm not sure I'd call that a 'little' stiletto, but other than that I agree.

https://www.bitcoin.org/bitcoin.pdf
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neuronics
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April 11, 2013, 07:54:55 AM
 #4656

Bitcoin's percentage move action today is ultra bullish for the medium long term. (I wish I wasn't writing this because it is my best rational analysis of markets but the absolute figures involved conjure up emotions and make it sound like pumping and bubble-licious talk ... but some people might like to hear it.)

I thought I was dreaming when I saw the stilletto it painted at $25-20 correction (25% stilletto in matter of minutes) and thought to myself this sucker is going to $50 maybe $75 or higher ... then it did the same thing again when it touched $50 for first time and retreated to $36 (25%) and then bounced back in next to no time ...  these stilletto patterns all the way are evidence of more money waiting to get in basically "buying the dips" analysis but a little more sophisticated analysis of post dip action ... it is not the collapse that is the tell it is all in the bounce back and follow through. Sawtooth trading analysis is something very similar from commodities bull runs that uses similar patterns.

Now, today it just dropped from $260 to ~$110 and is bouncing back by almost 80-100% off the low ... this is a mother-of-all stilletto pattern that has got my hands shaking. We could easily be going north of $1000 in the medium term and bodes for higher again in the longer term.

Very informative and enlightening, thank you.
cypherdoc (OP)
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April 11, 2013, 09:35:43 AM
 #4657

Gold DOWN.  Bitcoin UP.

It sure got quiet here quick. Not at all surprising how some of the same methods used for gold price suppression have been aimed at Bitcoin and had the same result of knocking prices down; not through any issue with Bitcoin itself, but the surrounding infrastructure.

Misreality finally speaks up after a few hours of reprieve.  Well done!
cypherdoc (OP)
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April 11, 2013, 09:48:56 AM
 #4658

Gold DOWN.  Bitcoin UP.

It sure got quiet here quick. Not at all surprising how some of the same methods used for gold price suppression have been aimed at Bitcoin and had the same result of knocking prices down; not through any issue with Bitcoin itself, but the surrounding infrastructure.

As the leading conspiracy theorist around here, you may be interested in this:

https://www.facebook.com/MtGox/posts/455962117821534
cypherdoc (OP)
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April 11, 2013, 10:10:06 AM
 #4659

http://www.dailyreckoning.com.au/gold-vs-bitcoin/2013/04/10/

'The simple fact is that after a 13-year run, investors are selling. Spare me your central bank stories. The market doesn't care how you feel about monetary policy right now. Selling is contagious. And right now, it's getting close to a pandemic.Investors are selling gold ETFs at a record pace. Approximately 106 tonnes of bullion was dumped in February, according to CNNMoney. That's the biggest monthly sell-off ever. That's where your selling pressure is coming from — whether you like it or not.The gold cycle is turning. Avoid the ETFs and miners. If you own them, get out now. These will be the most vulnerable investments as the drop approaches.'
tvbcof
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April 11, 2013, 10:19:31 AM
 #4660

Gold DOWN.  Bitcoin UP.

It sure got quiet here quick. Not at all surprising how some of the same methods used for gold price suppression have been aimed at Bitcoin and had the same result of knocking prices down; not through any issue with Bitcoin itself, but the surrounding infrastructure.

As the leading conspiracy theorist around here, you may be interested in this:

https://www.facebook.com/MtGox/posts/455962117821534

I find it hard to believe that after this much time, after all of the money that Mt. Gox has made, after the availability of high performance hardware and software, etc, they cannot have come up with a decent matching engine implementation.  An alternate explanation is that they wish to have poor performance at times, but that's pretty outrageous and doesn't make much sense.  So, I guess there must be things I'm not thinking of.

---

On a different topic, another thought I had was that when I was trading, I usually either put in bids a long way away from the market or just made my purchase.  It was not worth it to me to try to chase the price for a fraction of a percent.  Might as well just go ahead and make the purchase.  If I'd finished my buy-bot before I had my fill of Bitcoin it might have been a little different but not much.

So, I wonder how the near-walls get filled to such a high level and move so quickly to stay near the price.

Then I thought, gee, if I were going to manipulate things and risk a large stock of coins by selling, I could reduce the risk by simply selling them to myself.  Of course I also want the BTC of whatever geeks I got involved in the stampede.  So putting quite a few bids in over some period of time would be the way to go.

I don't trade much or participate in any market manipulation, so maybe this is a big 'no shit' to the veterans?


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