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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1807320 times)
cypherdoc
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March 31, 2014, 06:10:59 PM
 #7881

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/
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March 31, 2014, 11:17:40 PM
 #7882

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/

Ha!  Matonis could have taken almost the entire contents of this story from any of 100's of posts I've been spewing ad-nauseam for the last few years.  I hope his writings get some traction and get people thinking about all of the problems it would solve to focus on this use-case...if it's not already to late.


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March 31, 2014, 11:28:56 PM
 #7883

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/

Ha!  Matonis could have taken almost the entire contents of this story from any of 100's of posts I've been spewing ad-nauseam for the last few years.  I hope his writings get some traction and get people thinking about all of the problems it would solve to focus on this use-case...if it's not already to late.


"to late"  Cheesy

The Crypto P2P FED infrastructure is being tried at the moment, "us" the speculators are being tested if we can effectively manage the XBT money supply 24/7 across space and time with limited information in the face of adversity and FUD. I think its going well considering all the noobs we picked up after we saw $400 the first time, noobs being those who haven't figured out sell high and buy low.  

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
marcus_of_augustus
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April 01, 2014, 02:08:22 AM
 #7884

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/

Yup. The IRS ruling merely crystallises in many foggy minds what many of us have known all along. Unfortunately, a lot of VC's and USA based money seems to have already been thrown at making a Bitcoin branch that looks and feels like something the US authoritarian regulators might like ... and ended up with Pay-Pal2.0 ... oops. They need to raise their sights and take a look at the real high ground before they waste any more of their powder on those stinking trenches filled with the unfortunate US patriots.

Bitcoin technology is better suited to settlement/clearing and medium/long term International irreversible, censorship-resistant exchange of value. However, it does also pave the way for crypto-financial layers to be built on top that can deal with jurisdictional risk and instantaneous payments and etc, on a case by case basis.

miscreanity
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April 02, 2014, 01:37:07 AM
 #7885

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/
Ha!  Matonis could have taken almost the entire contents of this story from any of 100's of posts I've been spewing ad-nauseam for the last few years.  I hope his writings get some traction and get people thinking about all of the problems it would solve to focus on this use-case...if it's not already to late.

Indeed, give credit where due. We're all in this together.
sidhujag
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April 02, 2014, 04:47:32 AM
 #7886

Its all about incentives.. us gov fucked up... trying to kill btc
by taxing this early.. it creates incentive to hodl and spend in btc instead of coming back to played out fiat.
cypherdoc
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April 03, 2014, 03:05:43 PM
 #7887

Both heading DOWNTOWN. 400's baby, bring it. 300's next.

Don't get too excited. $400 is in the cards, yes. But 300...? I don't think.



hey molecular,

was that your Trezor on the PIN entry video?  was that you talking?  Wink
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April 03, 2014, 04:06:24 PM
 #7888

let's go.
molecular
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April 03, 2014, 04:49:05 PM
 #7889

Both heading DOWNTOWN. 400's baby, bring it. 300's next.

Don't get too excited. $400 is in the cards, yes. But 300...? I don't think.



hey molecular,

was that your Trezor on the PIN entry video?  was that you talking?  Wink

yes. Guilty of owning a trezor and being able to count to 4. Wink

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
Erdogan
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April 04, 2014, 07:40:51 AM
 #7890

If you have a claim on gold, where the gold is reserved for you and in store, like what you have if you store your gold with Euro Pacific Bank, the arrangement will not change the gold volume.

But we have also claims on gold, where there is no gold backing. When you claim it, you get either the gold or the same value in fiat at the going rate. This represent gold credit, and it increases the volume of gold plus gold credit.

So if you count the gold credit as the gold plus credit supply, we have gold plus credit inflation. Which lead to price inflation measured in gold, which is the same as gold price goes downward.
cypherdoc
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April 04, 2014, 02:57:33 PM
 #7891

If you have a claim on gold, where the gold is reserved for you and in store, like what you have if you store your gold with Euro Pacific Bank, the arrangement will not change the gold volume.

But we have also claims on gold, where there is no gold backing. When you claim it, you get either the gold or the same value in fiat at the going rate. This represent gold credit, and it increases the volume of gold plus gold credit.

So if you count the gold credit as the gold plus credit supply, we have gold plus credit inflation. Which lead to price inflation measured in gold, which is the same as gold price goes downward.

i've argued this for years.
Dr Bloggood
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April 06, 2014, 12:10:04 PM
 #7892

If you have a claim on gold, where the gold is reserved for you and in store, like what you have if you store your gold with Euro Pacific Bank, the arrangement will not change the gold volume.

But we have also claims on gold, where there is no gold backing. When you claim it, you get either the gold or the same value in fiat at the going rate. This represent gold credit, and it increases the volume of gold plus gold credit.

So if you count the gold credit as the gold plus credit supply, we have gold plus credit inflation. Which lead to price inflation measured in gold, which is the same as gold price goes downward.

What a beautiful way of saying "Those bastards have been manipulating the gold price to the hilt!" Smiley
sidhujag
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April 06, 2014, 04:12:02 PM
 #7893

If you have a claim on gold, where the gold is reserved for you and in store, like what you have if you store your gold with Euro Pacific Bank, the arrangement will not change the gold volume.

But we have also claims on gold, where there is no gold backing. When you claim it, you get either the gold or the same value in fiat at the going rate. This represent gold credit, and it increases the volume of gold plus gold credit.

So if you count the gold credit as the gold plus credit supply, we have gold plus credit inflation. Which lead to price inflation measured in gold, which is the same as gold price goes downward.

What a beautiful way of saying "Those bastards have been manipulating the gold price to the hilt!" Smiley

No more evident was this than in 2008 as meltdown happened paper gold fell
but physical was steady.

Jpm is the single biggest culprit by being backed by the fed with unlimited power to issue gold credit at will.. sometimes cornering the market to make profits like dumping through the 15xx wall with billions of $ of margin calls. Dimon said he outsmartedthe market by selling higj buying low
but he hurt the sentiment.. and now with things like bitcoin there are less manilulated risk reward plays for those that like to hedge inflation.
miscreanity
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April 07, 2014, 12:50:37 AM
 #7894

Derivatives are about to be unleashed on Bitcoin, so the problems gold has will become Bitcoin's. Yes it's becoming a big boy's game, and it'll be manipulated all the same.

The only difference is that investment must be saturated before it's fleeced. Bitcoin will have to go up a very long way until it's no longer the golden child of institutional giants.
Carlton Banks
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April 07, 2014, 01:13:03 AM
 #7895

Derivatives are about to be unleashed on Bitcoin, so the problems gold has will become Bitcoin's. Yes it's becoming a big boy's game, and it'll be manipulated all the same.

The only difference is that investment must be saturated before it's fleeced. Bitcoin will have to go up a very long way until it's no longer the golden child of institutional giants.

I don't think the same games can be played as they are with PMs. Comex gold derivatives take advantage of the difficulty and expense of opting for physical delivery of gold contracts. There is no case to be made for the situation being the same for Bitcoin, and so if the Wall Street exchanges refuse or stall withdrawals, then they'll get tarred with the Gox moniker. Not to say that this won't happen, but I think the problems with Bitcoinica, Mt. Gox and Vicurex will be way too fresh in people's minds to permit recklessly large deposits on an exchange run in Wall Street (of all places, at this point in the history of that institution's reputation). Watch closely the language that gets used to describe their processes, if "withdrawal", "deposit" and "balance" are passed over for some other euphemisms, tread carefully, and deride loudly if necessary.

Any exchange that joins in with Second Market's 'hub and spoke' arrangement can expect to see some very guarded use of their deposit facilities. Sounds like a situation where mutual finger-pointing will replace meaningful responsibility if there was ever an issue.

Vires in numeris
NewLiberty
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April 07, 2014, 01:13:44 AM
 #7896

Derivatives are about to be unleashed on Bitcoin, so the problems gold has will become Bitcoin's. Yes it's becoming a big boy's game, and it'll be manipulated all the same.

The only difference is that investment must be saturated before it's fleeced. Bitcoin will have to go up a very long way until it's no longer the golden child of institutional giants.

If the ETP gets naked shorted, we can always buy blocks of 25k for cheaper than they are worth and redeem them. Smiley

Also am not expecting it to be the price determiner any time soon.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
marcus_of_augustus
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April 07, 2014, 04:11:55 AM
 #7897

Derivatives are about to be unleashed on Bitcoin, so the problems gold has will become Bitcoin's. Yes it's becoming a big boy's game, and it'll be manipulated all the same.

The only difference is that investment must be saturated before it's fleeced. Bitcoin will have to go up a very long way until it's no longer the golden child of institutional giants.

I don't think the same games can be played as they are with PMs. Comex gold derivatives take advantage of the difficulty and expense of opting for physical delivery of gold contracts. There is no case to be made for the situation being the same for Bitcoin, and so if the Wall Street exchanges refuse or stall withdrawals, then they'll get tarred with the Gox moniker. Not to say that this won't happen, but I think the problems with Bitcoinica, Mt. Gox and Vicurex will be way too fresh in people's minds to permit recklessly large deposits on an exchange run in Wall Street (of all places, at this point in the history of that institution's reputation). Watch closely the language that gets used to describe their processes, if "withdrawal", "deposit" and "balance" are passed over for some other euphemisms, tread carefully, and deride loudly if necessary.

Any exchange that joins in with Second Market's 'hub and spoke' arrangement can expect to see some very guarded use of their deposit facilities. Sounds like a situation where mutual finger-pointing will replace meaningful responsibility if there was ever an issue.

I am fully anticipating many lolz when the 'wizards' of Wall St. get Goxxed in some way shape form when they show up in Bitcoinia and try their BS-finance crap around here.

sidhujag
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April 07, 2014, 05:48:40 AM
 #7898

Derivatives are about to be unleashed on Bitcoin, so the problems gold has will become Bitcoin's. Yes it's becoming a big boy's game, and it'll be manipulated all the same.

The only difference is that investment must be saturated before it's fleeced. Bitcoin will have to go up a very long way until it's no longer the golden child of institutional giants.

I don't think the same games can be played as they are with PMs. Comex gold derivatives take advantage of the difficulty and expense of opting for physical delivery of gold contracts. There is no case to be made for the situation being the same for Bitcoin, and so if the Wall Street exchanges refuse or stall withdrawals, then they'll get tarred with the Gox moniker. Not to say that this won't happen, but I think the problems with Bitcoinica, Mt. Gox and Vicurex will be way too fresh in people's minds to permit recklessly large deposits on an exchange run in Wall Street (of all places, at this point in the history of that institution's reputation). Watch closely the language that gets used to describe their processes, if "withdrawal", "deposit" and "balance" are passed over for some other euphemisms, tread carefully, and deride loudly if necessary.

Any exchange that joins in with Second Market's 'hub and spoke' arrangement can expect to see some very guarded use of their deposit facilities. Sounds like a situation where mutual finger-pointing will replace meaningful responsibility if there was ever an issue.

I am fully anticipating many lolz when the 'wizards' of Wall St. get Goxxed in some way shape form when they show up in Bitcoinia and try their BS-finance crap around here.

Those jews are smart ones they know the money game.. They will buy the knowledge before they step in the ring.. Im sure they wont be the ones totally fleeced.. Never are... I think after some years we will see ramification of their actions not today.
cypherdoc
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April 07, 2014, 03:51:47 PM
 #7899

Derivatives are about to be unleashed on Bitcoin, so the problems gold has will become Bitcoin's. Yes it's becoming a big boy's game, and it'll be manipulated all the same.

The only difference is that investment must be saturated before it's fleeced. Bitcoin will have to go up a very long way until it's no longer the golden child of institutional giants.

I don't think the same games can be played as they are with PMs. Comex gold derivatives take advantage of the difficulty and expense of opting for physical delivery of gold contracts. There is no case to be made for the situation being the same for Bitcoin, and so if the Wall Street exchanges refuse or stall withdrawals, then they'll get tarred with the Gox moniker. Not to say that this won't happen, but I think the problems with Bitcoinica, Mt. Gox and Vicurex will be way too fresh in people's minds to permit recklessly large deposits on an exchange run in Wall Street (of all places, at this point in the history of that institution's reputation). Watch closely the language that gets used to describe their processes, if "withdrawal", "deposit" and "balance" are passed over for some other euphemisms, tread carefully, and deride loudly if necessary.

Any exchange that joins in with Second Market's 'hub and spoke' arrangement can expect to see some very guarded use of their deposit facilities. Sounds like a situation where mutual finger-pointing will replace meaningful responsibility if there was ever an issue.

I am fully anticipating many lolz when the 'wizards' of Wall St. get Goxxed in some way shape form when they show up in Bitcoinia and try their BS-finance crap around here.

i'm sure alot of them already got goxed by gox.
conspirosphere.tk
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April 07, 2014, 04:12:09 PM
 #7900

I am fully anticipating many lolz when the 'wizards' of Wall St. get Goxxed in some way shape form when they show up in Bitcoinia and try their BS-finance crap around here.

i'm sure alot of them already got goxed by gox.

in that case mr Karpeles would have jumped out of a window some time ago.

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