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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1981861 times)
Dalmar
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February 12, 2014, 04:28:00 PM
 #7661

Choo-choo mofos, gold train leavin' the station !


Gold is boring... you can beat its YTD gains in a single BTC bounce.
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February 12, 2014, 05:04:14 PM
 #7662

Choo-choo mofos, gold train leavin' the station !


Gold is boring... you can beat its YTD gains in a single BTC bounce.

It's also much more stable and far less likely to go to zero. That's the tradeoff.

Bitcoin is at best a wild gamble, and at worst a pyramid scheme. But yeah, you can make mad loot (temporarily) with btc's volatility.
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February 12, 2014, 06:36:04 PM
 #7663

Choo-choo mofos, gold train leavin' the station !


Gold is boring... you can beat its YTD gains in a single BTC bounce.

It's also much more stable and far less likely to go to zero. That's the tradeoff.

Bitcoin is at best a wild gamble, and at worst a pyramid scheme. But yeah, you can make mad loot (temporarily) with btc's volatility.

you forget the no counter-party risk aspect

smh

Dalmar
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February 12, 2014, 06:52:11 PM
 #7664

It's also much more stable and far less likely to go to zero. That's the tradeoff.

Bitcoin is at best a wild gamble, and at worst a pyramid scheme. But yeah, you can make mad loot (temporarily) with btc's volatility.

Trading bitcoin is the easiest thing in the world, nothing like gambling. Especially now with many of the swings being based on breaking news. You just need to short/go long before the masses got informed.
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February 12, 2014, 07:06:26 PM
 #7665

It's also much more stable and far less likely to go to zero. That's the tradeoff.

Bitcoin is at best a wild gamble, and at worst a pyramid scheme. But yeah, you can make mad loot (temporarily) with btc's volatility.

Trading bitcoin is the easiest thing in the world, nothing like gambling. Especially now with many of the swings being based on breaking news. You just need to short/go long before the masses got informed.
That was Bitcoin @ $2, it works until a bigger fish eats you for a snack when you short.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Dalmar
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February 12, 2014, 07:10:30 PM
 #7666

That was Bitcoin @ $2, the it works until a bigger fish eats you for a snack when you short.

It still sort of works if you have the balls to do it.  Grin The bitstamp panic of last night is a great example.
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February 13, 2014, 09:37:06 AM
 #7667

so, gold up $200 in 2 months and bitcoin collapsing?
miketonic
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February 13, 2014, 01:58:22 PM
 #7668

so, gold up $200 in 2 months and bitcoin collapsing?
Roles have changed  Cheesy Well, we never now where BTC is in 2 months..
Dragonkiller
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February 13, 2014, 06:34:46 PM
 #7669

Breaking $1300  Grin

njcarlos
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February 13, 2014, 06:35:23 PM
 #7670

Breaking $1300  Grin
A welcomed reversal indeed. Cheesy
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February 13, 2014, 06:59:09 PM
 #7671

Breaking $1300  Grin
A welcomed reversal indeed. Cheesy

LOL, having shorted Bitcoin at $10 to buy gold at $1900 the reversal is a long way away.
So far in fact I've lost all hope in gold ever living up to any meaningful return.
I just keep it around as insurance for if we go back to the dark ages, and so my kids can melt it to make wedding rings for there friends.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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February 13, 2014, 08:54:33 PM
 #7672

Breaking $1300  Grin
A welcomed reversal indeed. Cheesy

LOL, having shorted Bitcoin at $10 to buy gold at $1900 the reversal is a long way away.
So far in fact I've lost all hope in gold ever living up to any meaningful return.
I just keep it around as insurance for if we go back to the dark ages, and so my kids can melt it to make wedding rings for there friends.


Patience, guy. The worst is over and it's only up from here. Hopefully u didnt overextend urself and need to sell any now. But besides gold, silver is the smart play, it is gonna fly past it's ATH in no time.
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February 13, 2014, 08:57:56 PM
 #7673

title of the thread is fun today.
User705
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February 13, 2014, 09:05:33 PM
 #7674

title of the thread is fun today.
Even a broken clock is right once a day.
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February 13, 2014, 09:14:50 PM
 #7675

title of the thread is fun today.
Even a broken clock is right once a day.

If you aren't flexible and realistic in your investment strategy, you'll fail hard.  The smart thing was to convert to gold around $800-1000 USD/BTC.  We'll see when it makes sense to convert back.
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February 13, 2014, 09:21:22 PM
 #7676

title of the thread is fun today.
Even a broken clock is right once a day.

If you aren't flexible and realistic in your investment strategy, you'll fail hard.  The smart thing was to convert to gold around $800-1000 USD/BTC.  We'll see when it makes sense to convert back.

In hindsight this is obvious.  But did you know that also at the time?  For myself, I believe that shorting Bitcoins is very dangerous and I'm not going to do it (B&H instead for me).  This may not make maximal profits, but I feel confident doing that.  I also hold some PMs as diversification, but I'm not trading between those (since I would surely be bad at that and lose money instead).

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traderCJ
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February 13, 2014, 09:27:27 PM
 #7677

title of the thread is fun today.
Even a broken clock is right once a day.

If you aren't flexible and realistic in your investment strategy, you'll fail hard.  The smart thing was to convert to gold around $800-1000 USD/BTC.  We'll see when it makes sense to convert back.

In hindsight this is obvious.  But did you know that also at the time?  For myself, I believe that shorting Bitcoins is very dangerous and I'm not going to do it (B&H instead for me).  This may not make maximal profits, but I feel confident doing that.  I also hold some PMs as diversification, but I'm not trading between those (since I would surely be bad at that and lose money instead).

I did, but I agree that for most people, you're better off just doing a B&H with money you're willing to lose.  That being said, I figure most of the people in a speculation forum aren't doing pure B&H ..

I may have been right for the wrong reason .. I anticipate another global recession this year.  I am not convinced that Bitcoin is where you want to be in such times compared to PMs.
Dragonkiller
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February 13, 2014, 11:32:46 PM
 #7678

Markets are starting to realize taper will be stopped/reversed despite what Yellen says.

Melbustus
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February 13, 2014, 11:43:59 PM
 #7679

Markets are starting to realize taper will be stopped/reversed despite what Yellen says.


When the indefinite QE started, it was $40B/mo. I recall thinking that they'd likely jack it up a little over $100B/mo and then pull back 25% of so and claim prudence. I was off by a bit on the magnitude, but I can see that playing out similarly. Having pumped QE to $85B/mo, if they ultimately scale it back to $40-60B/mo range, that'll seem like not a terribly big deal now that everyone's used to it.

We'll see. They might be able to scale it back quite a bit, actually, before interest rates move too much, as long as USD is still the defacto global reserve asset. It's really in China's hands.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Dragonkiller
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February 14, 2014, 12:04:30 AM
 #7680

Markets are starting to realize taper will be stopped/reversed despite what Yellen says.


When the indefinite QE started, it was $40B/mo. I recall thinking that they'd likely jack it up a little over $100B/mo and then pull back 25% of so and claim prudence. I was off by a bit on the magnitude, but I can see that playing out similarly. Having pumped QE to $85B/mo, if they ultimately scale it back to $40-60B/mo range, that'll seem like not a terribly big deal now that everyone's used to it.

We'll see. They might be able to scale it back quite a bit, actually, before interest rates move too much, as long as USD is still the defacto global reserve asset. It's really in China's hands.

Agree.

I'm looking to convert my remaining USD to CHF first decent chance I get. Already hold gold and bitcoin; sold some stocks so I'm holding much more USD than I feel comfortable holding  Undecided

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