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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1951233 times)
cypherdoc
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June 05, 2014, 10:18:19 PM
 #8561

Not sure what the point of the socioeconomic effects graph is, as some would argue bitcoin is not negligible in the corruption, money laundering, black markets department.  What is a good reference point for gold bugs is to realize that any monetary system has large infrastructure costs and if the world would somehow switch back to gold those costs would be astronomical compared to Bitcoin.

you think?

miscreanity=


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June 05, 2014, 10:26:28 PM
 #8562

Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp


Can I ask how these numbers were obtained? Cool chart.
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June 05, 2014, 10:26:59 PM
 #8563

don't forget bail-ins.

and then pension raids.

those will be coming too.  all in the name of propping up debt based speculative investments.

Just the thought of this makes me so bullish on bitcoin that I can't see straight. The eBay/paypal news is nothing compared to what the Europeans are about to pull  Grin

Exactly. This almost hurts my face it so bullish. Yikes.

Bitcoin ATMs + ETF (easy ways in) + ongoing merchant adoption + fiat debacle --> bitcoin tornado!

after an initial dead cat bounce, Ripple continues its decline:

http://www.ripplecharts.com/#/markets


RIP RIP(PLE)   Cheesy  Sorry!
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June 05, 2014, 10:49:25 PM
 #8564

don't forget bail-ins.

and then pension raids.

those will be coming too.  all in the name of propping up debt based speculative investments.

Just the thought of this makes me so bullish on bitcoin that I can't see straight. The eBay/paypal news is nothing compared to what the Europeans are about to pull  Grin

The fundamentals have not changed: HODL!

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June 05, 2014, 10:54:15 PM
 #8565

Where did you get this? I see the twitter post but no reference of where it came from.


Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp



███████████████████████████████████████

            ,╓p@@███████@╗╖,           
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╢██████    ▐▓█▄          ▄█▓▌    ███████
 ██████    ▐▓▓▓▓▌,     ▄█▓▓▓▌    ██████─
           ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌          
           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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June 05, 2014, 10:56:59 PM
 #8566

Where did you get this? I see the twitter post but no reference of where it came from.


Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp



http://www.scribd.com/doc/228253109/The-Relative-Sustainability-of-the-Bitcoin-Network-by-Hass-McCook
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June 05, 2014, 10:59:09 PM
 #8567

Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp
I disagree with the "emission trend: decreasing" for bitcoin.  Ok, in the very long run this is true, but if bitcoin will pick up like most of us here think it will, then the BTC price will go up a lot, and so will mining investment/electricity consumption.  Every reward halving should cut that in two though.

it's quite possible that hashrate is leading a price explosion, however. we are oversecured.  it's been relentlessly going up for over years now and imo is a leading indicator.

This ^

is what happened back in August 2013 ....hashrate lead price....and ended up pulling the price up with it a matter of months later. Same cycle is happening here.

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     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
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June 05, 2014, 11:02:07 PM
 #8568

Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp



Worker death should be atleast 1
http://nypost.com/2014/03/06/bitcoin-firm-ceo-jumped-to-her-death-neighbor/

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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June 05, 2014, 11:15:30 PM
 #8569

Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp



Worker death should be atleast 1
http://nypost.com/2014/03/06/bitcoin-firm-ceo-jumped-to-her-death-neighbor/


quite a few banker suicides as well.
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June 05, 2014, 11:43:02 PM
 #8570

Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp



Worker death should be atleast 1
http://nypost.com/2014/03/06/bitcoin-firm-ceo-jumped-to-her-death-neighbor/


quite a few banker suicides as well.

So instead of 0...more like ~20.

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June 06, 2014, 01:02:27 AM
 #8571


miscreanity=




I've just realized that the guy looks like mish - coincidentally an unrepentant goldbug (and Bitcoin basher).



http://elbitcoin.org - Bitcoin en español
http://mercadobitcoin.com - MercadoBitcoin
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June 06, 2014, 01:28:11 AM
 #8572

How much gold is that? Does anyone realistically own that much? I was told filling up a 2L bottle with gold dust would make it weigh 40kg.

edit:
One of the mind-blowing properties of gold is its weight... most people do not really understand it because they haven't had the "luxury" of dealing in any significant quantity. Yet if one took a 2lt soft-drink bottle and filled it up with gold dust, that bottle would weigh approximately 40kg.

Storing 1 ton of gold requires something like a 37cm cube that one can fit in a safe or even a ...backpack. Silver stacking is a real problem in terms of sizes, but gold... well... not really. This weight/space relation allows gold to be hidden in many resourceful ways, if one is so inclined to hide it.

I understand that in terms of portability it'll never beat crypto.
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June 06, 2014, 04:52:38 AM
 #8573

How much gold is that? Does anyone realistically own that much? I was told filling up a 2L bottle with gold dust would make it weigh 40kg.

I could believe that I would hedge 10% of my Bitcoin fortunes to gold in the next 10x upmove. For every BTC10k it'd mean the sale of BTC1k, multiplied by about $5000...

For $5M you get 125 kg of gold.

Certainly there are people who own a tonne of gold (1/180,000 of the gold stock) but they are fewer in number. It is much easier to buy 1/180,000 of all BTC, since that can be done by investing a manageable $44k...
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June 06, 2014, 05:45:59 AM
 #8574

Fiat still flowing into Bitcoin:

http://bitcoincharts.com/charts/bitstampUSD#rg1460zigDailyztgSzm1g10zm2g25zxzi1gAccDistzi2gMomentumzv

███████████████████████████████████████

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                   ²²²                 
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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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June 06, 2014, 11:21:31 AM
 #8575

Priceless data:: An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network pic.twitter.com/dGBsXqzXPp
I disagree with the "emission trend: decreasing" for bitcoin.  Ok, in the very long run this is true, but if bitcoin will pick up like most of us here think it will, then the BTC price will go up a lot, and so will mining investment/electricity consumption.  Every reward halving should cut that in two though.

it's quite possible that hashrate is leading a price explosion, however. we are oversecured.  it's been relentlessly going up for over years now and imo is a leading indicator.

Indeed we are over-secured. And I like it! Smiley
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June 06, 2014, 03:56:03 PM
 #8576

Houston, ready for launch:

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June 06, 2014, 06:17:25 PM
 #8577

I've just realized that the guy looks like mish - coincidentally an unrepentant goldbug (and Bitcoin basher).

Lol, all this time I thought that was Mish.  

I disagree that he's a bitcoin basher.  At worst he's agnostic towards it, but his recent writing from 2014 tells me that he is warming up to the idea.  In this March 2014 post, he proclaims that bitcoin is here to stay (i.e., that it's not a passing fad):

http://globaleconomicanalysis.blogspot.ca/2014/03/high-frequency-bitcoin-trading-coming.html

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
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June 06, 2014, 09:03:25 PM
 #8578

I've just realized that the guy looks like mish - coincidentally an unrepentant goldbug (and Bitcoin basher).

Lol, all this time I thought that was Mish.

The guy always reminded me of Gavin somehow (in appearance.)


I disagree that he's a bitcoin basher.  At worst he's agnostic towards it, but his recent writing from 2014 tells me that he is warming up to the idea.  In this March 2014 post, he proclaims that bitcoin is here to stay (i.e., that it's not a passing fad):

http://globaleconomicanalysis.blogspot.ca/2014/03/high-frequency-bitcoin-trading-coming.html

I've never had any doubt that bitcoin was HIGHLY manipulated ever since the first markets developed.  It's a tiny market which is almost completely unregulated, and the participants are as unscrupulous as any.  Not only that, but the 'masses' tend toward being ideologically driven and general 'newbies' with respect to market mechanics.  To add fuel to the fire, a 'rising tide floats all boats' so many of the participants developed an unwarranted view of their own trading prowess.  In short, they are fat hens for a plucking.

I don't trade and don't expect to.  I do, however, try to capitalize on trends.  It matters not to me whether the various dips and spikes are a result of manipulation.  If that's what it takes to create a spike when I want to divest, it's welcome to me.

I've always expected high-frequency trading to be, among other things (like front-running) a means of balancing books which would not otherwise balance.  Much like a juggler can handle 8 items with two hands by keeping some of them in a transitional phase.  In that respect it could cause some 'inflation' in whatever item is being traded.  But 'what goes up must come down' as they say, and I always expect to have some powder dry for a 'deflationary' event.  So, HFT in Bitcoin?  Bring it on!


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June 06, 2014, 09:15:05 PM
 #8579

Certainly there are people who own a tonne of gold (1/180,000 of the gold stock) but they are fewer in number. It is much easier to buy 1/180,000 of all BTC, since that can be done by investing a manageable $44k...

when shopping for your ton of gold, be careful about such ghanian scams:
http://www.zerohedge.com/news/2014-06-06/one-ton-gold-shipment-hong-kong-revealed-contain-just-worthless-metal
-especially if you pay in btc

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June 06, 2014, 09:35:58 PM
 #8580

bigger and bigger players are getting out of the gold space and into Bitcoin:

http://www.coindesk.com/2-million-bitcoin-yukon-gold-mine/
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