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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804774 times)
cypherdoc
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December 05, 2013, 01:50:41 AM
 #7041

LOL, look at the sync movement of Bitcoin/Gold prices, I am speechless.

I wasn't really convinced of cypher's theory until I saw this.

we're getting awfully close to catching gold permanently.

seems like just yesterday when we passed silver.  i said we'd get a Slingshot Effect.  and here we are...

Stop and think for a moment.

I know it seems so long ago but we just blew by silver with nary a heartbeat.

We are now experiencing the Slingshot Effect.  Do you really think silver will still go parabolic?

The Bitcoin:Silver Slingshot Effect:


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December 05, 2013, 02:27:07 AM
 #7042

LOL, look at the sync movement of Bitcoin/Gold prices, I am speechless.

I wasn't really convinced of cypher's theory until I saw this.

we're getting awfully close to catching gold permanently.

seems like just yesterday when we passed silver.  i said we'd get a Slingshot Effect.  and here we are...

Stop and think for a moment.

I know it seems so long ago but we just blew by silver with nary a heartbeat.

We are now experiencing the Slingshot Effect.  Do you really think silver will still go parabolic?

The Bitcoin:Silver Slingshot Effect:



Spot on +1 Cypher.

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vokain
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December 05, 2013, 02:29:25 AM
 #7043

I just wonder how big the sliver is of the population that gets it like cypher does.

...مكتوب
Escape the plutocrats’ zanpakutō, Flower in the Mirror, Moon on the Water: brave “the ascent which is rough and steep” (Plato).
cypherdoc
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December 05, 2013, 03:56:10 AM
 #7044

only $2 away.
cypherdoc
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December 05, 2013, 04:08:12 AM
 #7045

Bingo
vokain
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December 05, 2013, 04:16:42 AM
 #7046

 Cool

...مكتوب
Escape the plutocrats’ zanpakutō, Flower in the Mirror, Moon on the Water: brave “the ascent which is rough and steep” (Plato).
BitcoinAshley
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December 05, 2013, 04:21:20 AM
 #7047

Tylers LOVE bitcoin! Or at least one of the Tylers do. Lately it seems every other article on ZeroHedge mentions bitcoin or is specifically about bitcoin. The goldbugs are having a fit over there! It is amusing to watch.

I wonder how many more times BTC and gold will cross before BTC resumes its course upwards and gold resumes the plunge...
Melbustus
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December 05, 2013, 04:35:40 AM
 #7048

...
seems like just yesterday when we passed silver.
...


Indeed, it does. I remember when we passed silver, thinking something like: "Well, that was fun. Next stop gold, but it'll be a few years.". Heh.

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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December 05, 2013, 04:39:14 AM
 #7049

...
seems like just yesterday when we passed silver.
...


Indeed, it does. I remember when we passed silver, thinking something like: "Well, that was fun. Next stop gold, but it'll be a few years.". Heh.
Yup, I wouldn't for the life of me have thought that we would catch up to gold this year already.
cypherdoc
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December 05, 2013, 05:20:29 AM
 #7050

...
seems like just yesterday when we passed silver.
...


Indeed, it does. I remember when we passed silver, thinking something like: "Well, that was fun. Next stop gold, but it'll be a few years.". Heh.
Yup, I wouldn't for the life of me have thought that we would catch up to gold this year already.

i didn't think so either back then.

but i started to get an inkling that we might back in the summer when the HR kept escalating, escalating, and then going parabolic while the price just stagnated in the last 6 mo consolidation.  i mine b/c i like to hang out in the Custom Hardware forum to get a feeling about how miners think and what they are doing.  most of them never venture over here to Speculation and vice versa.  they have their own community and compulsive way of thinking that help educate my speculation/investment mindset.  during the summer, we miners were undergoing our own form of breathtaking action in the HR while all the speculation guys were over here wringing their hands about a plunge back to 2.  i kept saying in my newsletter we were going to get a "snap UP" to catch the price back up to the HR.  guys like Frozenlock kept arguing with me saying that price always leads HR.  i even caught evoorhees making a case that mining was irrelevant to the price over on Reddit.  not in this case.  you could easily see that millions of fiat dollars were being poured into the new gold rush of Bitcoin mining by old and new miners alike somehow thinking they could easily get in on the groundfloor of the new asic mining machines.  there was a mentality going around that somehow mining would be more lucrative than outright BTC buying, especially after the price had gone to the "bubble high" of 266.  the different buckets of the Bitcoin economy were being filled by raining fiat in an asymmetric pattern with the mining bucket first overflowing.  i knew we were going to get that snap UP especially after we double bottomed at 65.  i said it more than once in my letter.  i could see the frustration and disgust creeping into the miners from the rising difficulty and you could start to pick out more and more comments about giving up mining and going to buy BTC directly around Aug/Sept.  and sure enough, we got that snap UP.  but i didn't think we'd come this far this fast. 

that is, until it became clear to me that we are in a logarithmic progression.
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December 05, 2013, 05:22:45 AM
 #7051

i didn't think so either back then.

but i started to get an inkling that we might back in the summer when the HR kept escalating, escalating, and then going parabolic while the price just stagnated in the last 6 mo consolidation.  i mine b/c i like to hang out in the Custom Hardware forum to get a feeling about how miners think and what they are doing.  most of them never venture over here to Speculation and vice versa.  they have their own community and compulsive way of thinking that help educate my speculation/investment mindset.  during the summer, we miners were undergoing our own form of breathtaking action in the HR while all the speculation guys were over here wringing their hands about a plunge back to 2.  i kept saying in my newsletter we were going to get a "snap UP" to catch the price back up to the HR.  guys like Frozenlock kept arguing with me saying that price always leads HR.  i even caught evoorhees making a case that mining was irrelevant to the price over on Reddit.  not in this case.  you could easily see that millions of fiat dollars were being poured into the new gold rush of Bitcoin mining by old and new miners alike somehow thinking they could easily get in on the groundfloor of the new asic mining machines.  there was a mentality going around that somehow mining would be more lucrative than outright BTC buying, especially after the price had gone to the "bubble high" of 266.  the different buckets of the Bitcoin economy were being filled by raining fiat in an asymmetric pattern with the mining bucket first overflowing.  i knew we were going to get that snap UP especially after we double bottomed at 65.  i said it more than once in my letter.  i could see the frustration and disgust creeping into the miners from the rising difficulty and you could start to pick out more and more comments about giving up mining and going to buy BTC directly around Aug/Sept.  and sure enough, we got that snap UP.  but i didn't think we'd come this far this fast.  

that is, until it became clear to me that we are in a logarithmic progression.
HR=?
cypherdoc
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December 05, 2013, 05:23:22 AM
 #7052

i didn't think so either back then.

but i started to get an inkling that we might back in the summer when the HR kept escalating, escalating, and then going parabolic while the price just stagnated in the last 6 mo consolidation.  i mine b/c i like to hang out in the Custom Hardware forum to get a feeling about how miners think and what they are doing.  most of them never venture over here to Speculation and vice versa.  they have their own community and compulsive way of thinking that help educate my speculation/investment mindset.  during the summer, we miners were undergoing our own form of breathtaking action in the HR while all the speculation guys were over here wringing their hands about a plunge back to 2.  i kept saying in my newsletter we were going to get a "snap UP" to catch the price back up to the HR.  guys like Frozenlock kept arguing with me saying that price always leads HR.  i even caught evoorhees making a case that mining was irrelevant to the price over on Reddit.  not in this case.  you could easily see that millions of fiat dollars were being poured into the new gold rush of Bitcoin mining by old and new miners alike somehow thinking they could easily get in on the groundfloor of the new asic mining machines.  there was a mentality going around that somehow mining would be more lucrative than outright BTC buying, especially after the price had gone to the "bubble high" of 266.  the different buckets of the Bitcoin economy were being filled by raining fiat in an asymmetric pattern with the mining bucket first overflowing.  i knew we were going to get that snap UP especially after we double bottomed at 65.  i said it more than once in my letter.  i could see the frustration and disgust creeping into the miners from the rising difficulty and you could start to pick out more and more comments about giving up mining and going to buy BTC directly around Aug/Sept.  and sure enough, we got that snap UP.  but i didn't think we'd come this far this fast. 

that is, until it became clear to me that we are in a logarithmic progression.
HR=?

hashrate
Spaceman_Spiff
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December 05, 2013, 05:25:36 AM
 #7053

Ok, I guess I just proved your point that speculation guys don't hang out in the miner forum a lot  Smiley .
cypherdoc
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December 05, 2013, 05:26:43 AM
 #7054

Ok, I guess I just proved your point that speculation guys don't hang out in the miner forum a lot  Smiley .

probably a good thing.  they have their own special form of troll over there that is particularly nasty.
User705
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December 05, 2013, 05:28:00 AM
 #7055

Does that portend a similar scenario now?  I keep seeing new people talking about which preorder is best and buying am cubes.  Feels oddly familiar.
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December 05, 2013, 05:28:47 AM
 #7056

Ok, I guess I just proved your point that speculation guys don't hang out in the miner forum a lot  Smiley .

probably a good thing.  they have their own special form of troll over there that is particularly nasty.
Now you are just making me curious   Smiley .
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December 05, 2013, 05:29:45 AM
 #7057

Does that portend a similar scenario now?  I keep seeing new people talking about which preorder is best and buying am cubes.  Feels oddly familiar.
Well you can hardly argue that the speculative direct buying of bitcoins isn't going on right now.
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December 05, 2013, 05:30:14 AM
 #7058

Ok, I guess I just proved your point that speculation guys don't hang out in the miner forum a lot  Smiley .

probably a good thing.  they have their own special form of troll over there that is particularly nasty.
Now you are just making me curious   Smiley .

ask User705.  he's one of them.
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December 05, 2013, 05:31:25 AM
 #7059

Ok, I guess I just proved your point that speculation guys don't hang out in the miner forum a lot  Smiley .

probably a good thing.  they have their own special form of troll over there that is particularly nasty.
Now you are just making me curious   Smiley .
ask User705.  he's one of them.
Thanks, I'll check him out  Wink .
Melbustus
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December 05, 2013, 05:33:09 AM
 #7060

...
that is, until it became clear to me that we are in a logarithmic progression.


What necessitates the logarithmic progression? If anything, the underlying factor would have to be viral network adoption dynamics... Sounds like a graph theory problem.

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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