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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1803417 times)
vokain
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February 12, 2014, 06:36:04 PM
 #7681

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

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Escape the plutocrats’ zanpakutō, Flower in the Mirror, Moon on the Water: brave “the ascent which is rough and steep” (Plato).
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Dalmar
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February 12, 2014, 06:52:11 PM
 #7682

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
 #7683

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
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February 12, 2014, 07:10:30 PM
 #7684

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.
dozerz
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February 13, 2014, 09:37:06 AM
 #7685

so, gold up $200 in 2 months and bitcoin collapsing?
miketonic
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February 13, 2014, 01:58:22 PM
 #7686

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
 #7687

Breaking $1300  Grin
njcarlos
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February 13, 2014, 06:35:23 PM
 #7688

Breaking $1300  Grin
A welcomed reversal indeed. Cheesy
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February 13, 2014, 06:59:09 PM
 #7689

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
TeeBone
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February 13, 2014, 08:54:33 PM
 #7690

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.
3dGuy
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February 13, 2014, 08:57:56 PM
 #7691

title of the thread is fun today.
User705
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February 13, 2014, 09:05:33 PM
 #7692

title of the thread is fun today.
Even a broken clock is right once a day.
traderCJ
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February 13, 2014, 09:14:50 PM
 #7693

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.
domob
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February 13, 2014, 09:21:22 PM
 #7694

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).

Use your Namecoin identity as OpenID: https://nameid.org/
Donations: 1domobKsPZ5cWk2kXssD8p8ES1qffGUCm | NMC: NCdomobcmcmVdxC5yxMitojQ4tvAtv99pY
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traderCJ
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February 13, 2014, 09:27:27 PM
 #7695

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
 #7696

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
 #7697

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.
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
Dragonkiller
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February 14, 2014, 12:04:30 AM
 #7698

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
Adrian-x
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February 14, 2014, 12:09:37 AM
 #7699

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.

oh wow, i was buying your btc and you were buying my gold!

never short btc Smiley
It worked out well Wink, you have a yellow lamborghini and I have a rare element I can't use, and valuable experience.  
The most expensive experiences serve the best, I though I'd let it go, but apparently not (don't tell my wife) so next time I won't judge cypherdoc, to be honest it was a good run from $2.80 to $10 $13, and I made a great return.  

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
marcus_of_augustus
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February 14, 2014, 01:04:54 AM
 #7700

Quote
Today, banks like Morgan Stanley, JPMorgan Chase and Goldman Sachs own oil tankers, run airports and control huge quantities of coal, natural gas, heating oil, electric power and precious metals. They likewise can now be found exerting direct control over the supply of a whole galaxy of raw materials crucial to world industry and to society in general, including everything from food products to metals like zinc, copper, tin, nickel and, most infamously thanks to a recent high-profile scandal, aluminum.

http://m.rollingstone.com/politics/news/the-vampire-squid-strikes-again-the-mega-banks-most-devious-scam-yet-20140212

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