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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1808606 times)
traderCJ
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March 20, 2014, 05:23:25 AM
 #7841

Gold smackdown today.  MIners were telegraphing the FOMC decision.  Look out.

Bitcoin stable.  Things are lining up.

Very confrimed.

Edit: Where were you when gold was at $1380 a few days ago?  Just stopping by to gloat over a correction?  K.

No need to comment everyday when the long term trend is down.

Gold is down from $300 long term?
Well heck why not from $30.  Or perhaps $0 from the times before the US Dollar existed. 

Why not indeed, this is precisely how people justify the claim that any XBT price is a good price.
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NewLiberty
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March 22, 2014, 03:40:02 PM
 #7842

Why not indeed, this is precisely how people justify the claim that any XBT price is a good price.
This has always been true year over year.
Buy as much as you can use commercially, and a little more when you can.
Also generally true for gold, just not to the same degree.

Its just a different group of manipulators.  Pick whether you like your store of value pump/dumped by bullion banks or technocratics.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
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molecular
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March 23, 2014, 01:09:59 AM
 #7843

Does anyone consider that there are 200+ countries in the world, and 96% of their population is not American, and about 60% of the bitcoins are not? Does it have any practical significance?

I consider that fact and yes, it does have significance in the sense that the American empire will fall.

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boumalo
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March 23, 2014, 02:09:02 AM
 #7844

If you mined/bought a lot of BTC a long time ago it is a good idea to cash out some to buy some precious metals and some shares of ressource companies

That is what I will do if BTC does times 50

Gold&BTC will go up to the roof when the USD will collapse but BTC will probably gain a lot more

TeeBone
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March 23, 2014, 08:43:41 PM
 #7845

If you bought a lot of BTC a long time ago it is a good idea to cash out some to buy some precious metals

That's what i've been doing for the last year or so. When i was young, i never thought i'd do magic tricks for a living, but here i am turning invisible coins into real coins  Cool

It's also why i mess around with the stock market. We all know it's a sham, but yo whateva. We live in an irrational world, so why not use irrational systems as vehicles to accumulate real wealth.
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March 24, 2014, 06:38:38 PM
 #7846

Gold smackdown today.  MIners were telegraphing the FOMC decision.  Look out.

Bitcoin stable.  Things are lining up.

Very confrimed.

Edit: Where were you when gold was at $1380 a few days ago?  Just stopping by to gloat over a correction?  K.

Gold smackdown continues.
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March 24, 2014, 07:04:42 PM
 #7847

If you bought a lot of BTC a long time ago it is a good idea to cash out some to buy some precious metals

That's what i've been doing for the last year or so. When i was young, i never thought i'd do magic tricks for a living, but here i am turning invisible coins into real coins  Cool

It's also why i mess around with the stock market. We all know it's a sham, but yo whateva. We live in an irrational world, so why not use irrational systems as vehicles to accumulate real wealth.

yup, the sane go no where in this world.

Silver back under $20!
spazzdla
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March 24, 2014, 07:13:30 PM
 #7848

I just bought an OZ of gold and 60 oz of silver..

FAKKKKKKKKKKKKKKKKKKKKK, mind you I'm sure in the long run it won't matter.
cypherdoc
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March 24, 2014, 07:24:37 PM
 #7849

If you bought a lot of BTC a long time ago it is a good idea to cash out some to buy some precious metals

That's what i've been doing for the last year or so. When i was young, i never thought i'd do magic tricks for a living, but here i am turning invisible coins into real coins  Cool

It's also why i mess around with the stock market. We all know it's a sham, but yo whateva. We live in an irrational world, so why not use irrational systems as vehicles to accumulate real wealth.

yup, the sane go no where in this world.

Silver back under $20!

yes, silver lost like 3% in a week. BTC lost 10%   Roll Eyes

anyway i only care about $18 for silver... that is the line to watch

get ready.
boumalo
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March 24, 2014, 07:28:14 PM
 #7850

If you bought a lot of BTC a long time ago it is a good idea to cash out some to buy some precious metals

That's what i've been doing for the last year or so. When i was young, i never thought i'd do magic tricks for a living, but here i am turning invisible coins into real coins  Cool

It's also why i mess around with the stock market. We all know it's a sham, but yo whateva. We live in an irrational world, so why not use irrational systems as vehicles to accumulate real wealth.

yup, the sane go no where in this world.

Silver back under $20!

yes, silver lost like 3% in a week. BTC lost 10%   Roll Eyes

anyway i only care about $18 for silver... that is the line to watch

The FED began to taper but they will probably soon reverse the tapering and increase QE to make everyone whole in less valuable $

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March 24, 2014, 08:07:42 PM
 #7851

If you bought a lot of BTC a long time ago it is a good idea to cash out some to buy some precious metals

That's what i've been doing for the last year or so. When i was young, i never thought i'd do magic tricks for a living, but here i am turning invisible coins into real coins  Cool

It's also why i mess around with the stock market. We all know it's a sham, but yo whateva. We live in an irrational world, so why not use irrational systems as vehicles to accumulate real wealth.

yup, the sane go no where in this world.

Silver back under $20!

yes, silver lost like 3% in a week. BTC lost 10%   Roll Eyes

anyway i only care about $18 for silver... that is the line to watch

get ready.

I have the trucks ready to be loaded once it gets that cheap!  

how bout the Lambo!?
molecular
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March 24, 2014, 08:09:40 PM
 #7852

If you bought a lot of BTC a long time ago it is a good idea to cash out some to buy some precious metals

That's what i've been doing for the last year or so. When i was young, i never thought i'd do magic tricks for a living, but here i am turning invisible coins into real coins  Cool

It's also why i mess around with the stock market. We all know it's a sham, but yo whateva. We live in an irrational world, so why not use irrational systems as vehicles to accumulate real wealth.

yup, the sane go no where in this world.

Silver back under to the community.$20!

yes, silver lost like 3% in a week. BTC lost 10%   Roll Eyes

anyway i only care about $18 for silver... that is the line to watch

get ready.

can you elaborate? what are we looking at? some sort of liquidity crunch?

I'm getting fiat ready to buy some metal, maybe premature?

EDIT: what? I hear talk of taper? Can't persist for long.

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solex
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March 24, 2014, 09:30:20 PM
 #7853

it can hold enough gold, but if i tried to load it will all the silver im going to buy if we get to near $12 it would be crushed!

This chart from Jesse's Crossroads Cafe looks to me like a screaming buy. Jesse draws dozens of lines but the line missing is the big downtrend from the peak. Like Bitcoin at the moment it rests on support and the selling appears exhausted.


solarflare
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March 24, 2014, 11:50:18 PM
 #7854

I'm new to precious metals trading holding and there's a few things that bother me. I'd love to hear solutions from you guys.

My first concern is storage. Where do you guys keep your stash ?
It's important not to keep all coins in one place of course, but I don't know of even one safe place to keep them.
Home is fine for small quantities only, safe deposit boxes are too expensive (and I don't trust them), in the wild under a rock is inconvenient, etc.

My other concern is with traveling.
I don't have a home country and travel constantly so now that I have coins I don't really know what I'll do when I have to move abroad.
Selling everything for bitcoins and buying again is a pain and would increase the likelihood of getting scammed.
Exchanging all my silver for gold would make the stash much smaller which would be easy to smuggle.
But if I ever get caught they'll still think I'm a freaking mafioso...

Also, right now my stash is small because of these issues I foresee, but I would love to see it grow to $50K (to give you an idea of what I'd travel with (1kg of gold...)).

Thanks for you help Smiley


P.S. Could we have a poll on what would be a good price to by Gold (then another for Silver) ?
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March 25, 2014, 06:13:14 AM
 #7855

https://www.youtube.com/watch?v=35r9VHUblVM&feature=youtube_gdata_player

Wtf? Is Mike maloney coming around? I thought he'd be one of the last ones.

well now, that's interesting.

Now it sounds like he actually likes Bitcoin: https://www.youtube.com/watch?v=dGsir1ypCP8

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ErisDiscordia
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March 25, 2014, 07:53:25 AM
 #7856

My first concern is storage. Where do you guys keep your stash ?
It's important not to keep all coins in one place of course, but I don't know of even one safe place to keep them.

That's the thing you learn when you own precious metals or Bitcoin. There is no safety, there are no 100% guarantees. Same is true with fiat, but it is so much easier to buy into the notion that your fiat is "insured" and "protected" Wink

So you have to learn to live with uncertainty. The best way to deal with that would be diversification imo. It is harder for a perpetual traveler, though.

It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
toknormal
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March 25, 2014, 09:06:25 AM
 #7857

I actually think that people underestimate the extent to which precious metals are now obsolete as a store of value.

The internet is barely 25 years old - yet almost all trades these days are conducted electronically. We now have a worldwide eletcronic trading platform, not a physical one.

Gold is actually no more than a "physical" bitcoin. It is a unique, fungible token - just like a plastic token at a funfair. It has no "intrinsic" value as such - its value derives from the fact that over the years it was found to have the very rare qualities that allowed it to serve as a generic unit of exchange.

In other words its value derives from its *role* as a monetary medium, not the other way around.

Remember the phrase "if you can't hold it, you don't own it" ?

Well, now that we have this worldwide electronic trading platform, that phrase favours cryptocurrencies more than precious metals. With cryptocurrencies you can electronically "hold" what you own. It's "electronic" holding of the base money medium that matters - not physical holding.

You cannot do this with gold. ok - you can have it delivered to your door, but the gold market would grind to a complete halt if every single trade had to be matched with a physical delivery somewhere.

That is why the writing is on the wall for precious metals as a store of value. Yes - if there was a worldwide currency crisis tomorrow, the gold price would undoubtedly rise, but its future is now severely limited in my opinion, even as a "safe haven" investment.
solarflare
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March 25, 2014, 04:42:03 PM
 #7858

My first concern is storage. Where do you guys keep your stash ?
It's important not to keep all coins in one place of course, but I don't know of even one safe place to keep them.

That's the thing you learn when you own precious metals or Bitcoin. There is no safety, there are no 100% guarantees. Same is true with fiat, but it is so much easier to buy into the notion that your fiat is "insured" and "protected" Wink

So you have to learn to live with uncertainty. The best way to deal with that would be diversification imo. It is harder for a perpetual traveler, though.

With bitcoins I can at least encrypt my wallets / priv-keys and copy them on papers, usb keys, disks, cloud storage, emails or even on decentralized systems like freenet.
It's easy to send copies to my family and friends and also receive theirs. I am happy with this level of redundancy and security.

Thanks for your answer because somehow it's good too know that most holders seem to be in the same boat when it comes to precious metals; a boat that can sink at any moment.
I'll do what I did for bitcoin then, hold what I feel comfortable holding and potentially losing by taking the intrinsic risk into account.


I actually think that people underestimate the extent to which precious metals are now obsolete as a store of value.


When I think about bitcoin, I see where the value is, but when I think about gold, I really don't see it. So I, for one, do not overestimate its value.
I only buy precious metals because even though it's obsolete, I don't believe people will start discarding it anytime soon. It will take a while before it is replaced in the industry and in jewelry and stuff.
It's stupid but it's been considered precious for so many years (thousands!) that it must now be hardcoded in our brains. That will take time to erase.
So for now, I think it's still a good way to hedge again inflation (as long as the global monetary policy doesn't change radically).
TeeBone
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March 25, 2014, 09:47:33 PM
 #7859

anyway i only care about $18 for silver... that is the line to watch

i'd love to see one last smackdown to around 14 or 15, im a big proponent of diversifying but at that price i'd seriously consider going all in.

aint happening, though.
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March 26, 2014, 06:14:06 AM
 #7860

I'm not sure I still feel comfortable comparing the two as there is no real reason why people would not use both for a place to store wealth.  I can see why the price of gold would go down as it has made some strong moves up.
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