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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804532 times)
thezerg
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June 05, 2014, 10:26:59 PM
 #8581

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
 #8582

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
 #8583

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



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

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╢██████    ▐▓█▄          ▄█▓▌    ███████
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           ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌          
    ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─  
     ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩    
        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
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June 05, 2014, 10:56:59 PM
 #8584

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
 #8585

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
 #8586

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
 #8587

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
 #8588

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
 #8589


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
 #8590

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.

...مكتوب
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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June 06, 2014, 04:52:38 AM
 #8591

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
 #8592

Fiat still flowing into Bitcoin:

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

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

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June 06, 2014, 11:21:31 AM
 #8593

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
 #8594

Houston, ready for launch:

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June 06, 2014, 06:17:25 PM
 #8595

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
 #8596

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
 #8597

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
 #8598

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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June 06, 2014, 09:39:11 PM
 #8599

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

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

and you wonder why:

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June 07, 2014, 12:39:53 AM
 #8600

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

You are right, he has tempered his initial position. But isn't it a little bitchy to say that Wall Street is what will ensure Bitcoin survival?

I smell resentment.

http://elbitcoin.org - Bitcoin en español
http://mercadobitcoin.com - MercadoBitcoin
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