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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1936637 times)
cypherdoc
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November 22, 2013, 11:03:20 PM
 #6741

Gold collapsing.  Bitcoin UP.
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November 23, 2013, 06:27:19 AM
 #6742

Will it ever be possible to buy 2 bitcoins with an ounce of gold again?

molecular
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November 23, 2013, 06:57:32 AM
 #6743

Will it ever be possible to buy 2 bitcoins with an ounce of gold again?



For the love of the flying spaghetti monster... this is madness!

People have been laughing at me since 2011 when I answered "at 1 oz gold / BTC, but only some" when being asked when I would sell.

People have stopped laughing and I'm reconsidering wether it'd really be the right thing to do Wink.


PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
marcus_of_augustus
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November 23, 2013, 07:11:42 AM
 #6744

Btc is gonna pass gold parity and no-one will hardly notice it will be gone that fast.

There is nothing so powerful as an idea who's time has arrived.

jojo69
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November 23, 2013, 07:13:07 AM
 #6745

sweet baby zombie jeebus

my pretty pretty precious...oh how I loved you

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
cypherdoc
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November 23, 2013, 08:39:01 AM
 #6746

Btc is gonna pass gold parity and no-one will hardly notice it will be gone that fast.

There is nothing so powerful as an idea who's time has arrived.

That thunderclap is gonna rock the world.

And then gold will be forgotten, just like silver.
rpietila
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November 23, 2013, 09:03:31 AM
 #6747

Btc is gonna pass gold parity and no-one will hardly notice it will be gone that fast.

There is nothing so powerful as an idea who's time has arrived.

That thunderclap is gonna rock the world.

And then gold will be forgotten, just like silver.

The once allmighty gold is fast approaching 1% of my portfolio. From the above.



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November 23, 2013, 09:47:59 AM
 #6748

why you refer to price of gold as in oz? it might as well be in grams, kilos, tons. the price per weight value is irrelevant here. gold will always have value no matter how much 1btc is in relation to 1 oz.

"between 'lives' we all have a great laugh about the parts we have performed in the 'play', and look forward to and have great fun preparing the next chapters to act out."
marcus_of_augustus
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November 23, 2013, 10:09:54 AM
 #6749

why you refer to price of gold as in oz? it might as well be in grams, kilos, tons. the price per weight value is irrelevant here. gold will always have value no matter how much 1btc is in relation to 1 oz.

Good point ... I guess the only question left then is when do we switch the numeraire from tOZ/BTC to BTC/tOZ then right? ... that is when the psychological shift to unit of account occurs and btc becomes 'money'.

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November 23, 2013, 10:15:51 AM
 #6750

why you refer to price of gold as in oz? it might as well be in grams, kilos, tons. the price per weight value is irrelevant here. gold will always have value no matter how much 1btc is in relation to 1 oz.

Because that's the unit they use in the gold market.

Yes, gold will always have value, as copper, nickel, and many other metals, but we are talking about speculative value here.


https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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November 23, 2013, 10:32:22 AM
 #6751

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
marcus_of_augustus
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November 23, 2013, 11:15:06 AM
 #6752

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.

... what you mean like real money?! ... like that normal people can actually work and save in without being ripped off and corralled into "pension schemes", high-yield debt-instruments, shock markets and etc before being eaten alive by Wall St. sharks?

God, what a concept.

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November 23, 2013, 11:33:07 AM
 #6753

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.

... what you mean like real money?! ... like that normal people can actually work and save in without being ripped off and corralled into "pension schemes", high-yield debt-instruments, shock markets and etc before being eaten alive by Wall St. sharks?

God, what a concept.
 

PMs are real money, but they are like that nation under God, indivisible.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
BitcoinAshley
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November 23, 2013, 05:47:06 PM
 #6754

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.


Yes, the accessibility of Bitcoin is very important to its success. A few years ago I toyed with the idea of dividend-yielding investments and a few other things, but with the amount of money I was looking to invest (beans) the fees just wouldn't make it worth it. With bitcoin, it was much easier for me to start out investing teeny tiny amounts of money every week. Then, my tiny investment turned into gigantic amounts of money. Of course, later adopters won't see such a massive ROI, but they can still participate in its appreciation until it reaches a more stable adoption level, and after that, they can participate in sound money which is good for everyone. The barrier to entry is a powerful force as we see in socialist .gov-controlled markets i.e. here in the U.S.
The barrier to entry of bitcoin still involves at least a mobile device and internet, but it is much smaller than many markets currently in existence.
cypherdoc
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November 23, 2013, 06:13:42 PM
 #6755

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.

And vice versa.

Unlike a stock or bond , which is for the most part illiquid, you can hold bitcoin as an "investment" right up to the moment you want to spend it on something useful. Take the Gyft card as an example. Hold Btc, let it appreciate, then buy at the most efficient time with a small fraction of your holdings.

I've been doing this with my vpn service. Put 0.8 btc on my phone at the beginning of the year and declined to pay for a year's worth of service and opted instead for monthly service knowing the value of the btc was going to be going up. Whereas I had about $80 of purchasing power at the time, now I have about $640.

Only with bitcoin.
bitcoinpsftp
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November 23, 2013, 08:19:27 PM
 #6756

Wow... bitcoin is at it again.  Will we sit it hit 1,000 USD on USD based markets?  Or will someone dump hard right before it gets there?  There's much money to be made dumping, and then buying everything back at lower prices.  We'll have to wait and see.

bassclef
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November 23, 2013, 11:42:42 PM
 #6757

Wow... bitcoin is at it again.  Will we sit it hit 1,000 USD on USD based markets?  Or will someone dump hard right before it gets there?  There's much money to be made dumping, and then buying everything back at lower prices.  We'll have to wait and see.

Dumping is much riskier now. It used to happen quite a bit, sometimes accompanying a DDOS, with varying degrees of success. Now, it takes thousands of coins to move the market, and if you can't buy back lower (plus fees, slippage), then the manipulator is poised to lose big.
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November 24, 2013, 12:05:06 AM
 #6758

why you refer to price of gold as in oz? it might as well be in grams, kilos, tons. the price per weight value is irrelevant here. gold will always have value no matter how much 1btc is in relation to 1 oz.

And Bitcoin may as well be mBTC
you are correct but even metric nations publish the price per 1oz. Having known gold for its colour all my life and never thinking people actually bought it, 1oz is the universal unit when the price is mentioned, so yes this will be huge news.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
oakpacific
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November 24, 2013, 02:40:17 AM
 #6759

It just occurs to me that divisibility is one of Bitcoin's great features as a investment, you can't normally buy fractional share on the stock market, or a fraction of an ounce of gold/silver, so when a bubble is forming small time investors have to avoid buying as they risk losing dearly in a market crash, but even when BTC price reaches $10000/BTC you can still buy 0.001 BTC and take advantage of the potential rally continuation, as the most you can lose is only $10, this would potentially make Bitcoin the first product to be investable, and investable rationally by everyone, even really deprived people.


Yes, the accessibility of Bitcoin is very important to its success. A few years ago I toyed with the idea of dividend-yielding investments and a few other things, but with the amount of money I was looking to invest (beans) the fees just wouldn't make it worth it. With bitcoin, it was much easier for me to start out investing teeny tiny amounts of money every week. Then, my tiny investment turned into gigantic amounts of money. Of course, later adopters won't see such a massive ROI, but they can still participate in its appreciation until it reaches a more stable adoption level, and after that, they can participate in sound money which is good for everyone. The barrier to entry is a powerful force as we see in socialist .gov-controlled markets i.e. here in the U.S.
The barrier to entry of bitcoin still involves at least a mobile device and internet, but it is much smaller than many markets currently in existence.

And the snowball will get bigger and bigger, until no one in the world is left uninvested, then people will make a shocking discovery......"I have this, everyone has this, why don't we use it as a currency?"

That's the plan. Wink

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
Melbustus
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November 24, 2013, 04:25:02 AM
 #6760


And the snowball will get bigger and bigger, until no one in the world is left uninvested, then people will make a shocking discovery......"I have this, everyone has this, why don't we use it as a currency?"

That's the plan. Wink


Precisely. Bitcoin as a speculative asset is the ultimate currency trojan-horse. :-)

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
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