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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1956219 times)
cypherdoc
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June 24, 2014, 10:12:57 AM
 #8841

not sure how they calculated this but here's your new talking point:

That is 5,000 times greater than the power of all of the world’s fastest 500 supercomputers combined.

http://www.economist.com/blogs/schumpeter/2014/06/bitcoin
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June 24, 2014, 12:06:53 PM
 #8842

not sure how they calculated this but here's your new talking point:

That is 5,000 times greater than the power of all of the world’s fastest 500 supercomputers combined.

http://www.economist.com/blogs/schumpeter/2014/06/bitcoin

Since they mention FLOPS, they presumably compared the mining power to the power if the supercomputers were used directly.  This isn't really a meaningful comparison anymore since we have ASICs, but the amount of hashing power present is still very astonishing in recent times.

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June 24, 2014, 01:01:27 PM
 #8843

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
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June 24, 2014, 01:43:39 PM
 #8844

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
Nobody wants to be the one to trigger the collapse of the $USD / Global financial construct

Their is a Western -> Eastern power shift that looks to be coming to a head in the Saudi / Qatari vs Russia / Iran  energy war. The U.S is caught in the middle holding a very shitty hand of cards. The EU needs to decide what they're going to do. Would be wise to take advantage of this opportunity and drive up the price of gold / balance their balance sheets(gold is a floating asset) so the Euro can get in on some petro action before they get trumped by an eastern currency.

Gold as the central bedrock(glue) of the financial system and bitcoin as the efficient payment mechanism to transmit value and have easily movable / verifiable wealth.

The two aren't in competition as this thread would make people believe. They'll create a fairer and more efficient global financial system together.

sidhujag
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June 24, 2014, 03:33:00 PM
 #8845

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
Nobody wants to be the one to trigger the collapse of the $USD / Global financial construct

Their is a Western -> Eastern power shift that looks to be coming to a head in the Saudi / Qatari vs Russia / Iran  energy war. The U.S is caught in the middle holding a very shitty hand of cards. The EU needs to decide what they're going to do. Would be wise to take advantage of this opportunity and drive up the price of gold / balance their balance sheets(gold is a floating asset) so the Euro can get in on some petro action before they get trumped by an eastern currency.

Gold as the central bedrock(glue) of the financial system and bitcoin as the efficient payment mechanism to transmit value and have easily movable / verifiable wealth.

The two aren't in competition as this thread would make people believe. They'll create a fairer and more efficient global financial system together.



I doubt you know enough to say us hand is shitty. Maybe thats what they want you to
think. Based on their personality and military if they ever felt that Im sure they would be aggresive in killing off those ties that can doom them. No point in even talking about it.

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NewLiberty
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June 24, 2014, 03:37:46 PM
 #8846

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
Nobody wants to be the one to trigger the collapse of the $USD / Global financial construct

Their is a Western -> Eastern power shift that looks to be coming to a head in the Saudi / Qatari vs Russia / Iran  energy war. The U.S is caught in the middle holding a very shitty hand of cards. The EU needs to decide what they're going to do. Would be wise to take advantage of this opportunity and drive up the price of gold / balance their balance sheets(gold is a floating asset) so the Euro can get in on some petro action before they get trumped by an eastern currency.

Gold as the central bedrock(glue) of the financial system and bitcoin as the efficient payment mechanism to transmit value and have easily movable / verifiable wealth.

The two aren't in competition as this thread would make people believe. They'll create a fairer and more efficient global financial system together.

The amount of gold to be sent to Germany could probably be loaded onto 2 Boeing 747s.  
Seven years is a long time on layover waiting for the next flight.

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cypherdoc
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June 24, 2014, 04:28:28 PM
 #8847

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
Nobody wants to be the one to trigger the collapse of the $USD / Global financial construct

Their is a Western -> Eastern power shift that looks to be coming to a head in the Saudi / Qatari vs Russia / Iran  energy war. The U.S is caught in the middle holding a very shitty hand of cards. The EU needs to decide what they're going to do. Would be wise to take advantage of this opportunity and drive up the price of gold / balance their balance sheets(gold is a floating asset) so the Euro can get in on some petro action before they get trumped by an eastern currency.

Gold as the central bedrock(glue) of the financial system and bitcoin as the efficient payment mechanism to transmit value and have easily movable / verifiable wealth.

The two aren't in competition as this thread would make people believe. They'll create a fairer and more efficient global financial system together.



i still disagree with this.  Bitcoin has too many advantages.  and it's more than just a payment mechanism; it's functioning as an increasing store of value.
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June 24, 2014, 04:36:32 PM
 #8848

i still disagree with this.  Bitcoin has too many advantages.  and it's more than just a payment mechanism; it's functioning as an increasing store of value.
Also gold as a monetary instrument is pointless now that cryptography has been invented.

Gold sucks as a medium of exchange because it's heavy and takes up space. It sucks so bad as a medium of exchange that entire industries had to be invented to create and manage representations of gold because it simply wasn't practical to use the gold directly.

The one thing gold had going for it was that it was hard to counterfeit, and the relative difficulty of obtaining it kept the supply from increasing too quickly.

Now we can get those properties with math, so there's as much need for gold in the monetary system as there is need for horses as means of transportation.
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June 24, 2014, 04:55:51 PM
 #8849

there's as much need for gold in the monetary system as there is need for horses as means of transportation.

cool, but for storing value I still will shop for some gold and silver when btc will boom again. Even some land and residency in Latin America sound like a good idea.

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June 24, 2014, 05:07:40 PM
 #8850

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
Nobody wants to be the one to trigger the collapse of the $USD / Global financial construct

Their is a Western -> Eastern power shift that looks to be coming to a head in the Saudi / Qatari vs Russia / Iran  energy war. The U.S is caught in the middle holding a very shitty hand of cards. The EU needs to decide what they're going to do. Would be wise to take advantage of this opportunity and drive up the price of gold / balance their balance sheets(gold is a floating asset) so the Euro can get in on some petro action before they get trumped by an eastern currency.

Gold as the central bedrock(glue) of the financial system and bitcoin as the efficient payment mechanism to transmit value and have easily movable / verifiable wealth.

The two aren't in competition as this thread would make people believe. They'll create a fairer and more efficient global financial system together.



i still disagree with this.  Bitcoin has too many advantages.  and it's more than just a payment mechanism; it's functioning as an increasing store of value.

You can, and that's fine. You probably made the trade of the century..if I recall right you sold gold for bitcoin near the peak? So you took the stance at the appropriate time. I don't ignore vested interest. It doesn't really matter what should be. The Eurozone, among others, can clear their balance sheets by eating up gold on the open market and placing a high bid. I don't think the Euro will collapse and the way to un-fuck the eurozone is by making an effort to increase their asset column. It's pretty simple..drown in debt or set the market price for gold at a much higher level. No point in suffering when you have the option to clear debt.

Crypto central bank holdings may be the future but for now I see them making a concerted effort, once the $ is known to be fucked..ala no support from Saudi Oil..to wipe clean their debts via an increased price in gold. Will it outpace bitcoin? probably not. But timing is a factor. Gold to $45-60k an ounce, bitcoin +$100k per in today's $'s.

Hold both for insurance in case of time delays or a miscalculation.

I'm tempted to drop my silver holdings but it's a back-up to my back-up insurance policy. I don't believe it will witness the astronomical rise of the 2 previously mentioned but I've been wrong before.
cypherdoc
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June 24, 2014, 05:54:38 PM
 #8851

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
Nobody wants to be the one to trigger the collapse of the $USD / Global financial construct

Their is a Western -> Eastern power shift that looks to be coming to a head in the Saudi / Qatari vs Russia / Iran  energy war. The U.S is caught in the middle holding a very shitty hand of cards. The EU needs to decide what they're going to do. Would be wise to take advantage of this opportunity and drive up the price of gold / balance their balance sheets(gold is a floating asset) so the Euro can get in on some petro action before they get trumped by an eastern currency.

Gold as the central bedrock(glue) of the financial system and bitcoin as the efficient payment mechanism to transmit value and have easily movable / verifiable wealth.

The two aren't in competition as this thread would make people believe. They'll create a fairer and more efficient global financial system together.



i still disagree with this.  Bitcoin has too many advantages.  and it's more than just a payment mechanism; it's functioning as an increasing store of value.

You can, and that's fine. You probably made the trade of the century..if I recall right you sold gold for bitcoin near the peak? So you took the stance at the appropriate time. I don't ignore vested interest. It doesn't really matter what should be. The Eurozone, among others, can clear their balance sheets by eating up gold on the open market and placing a high bid. I don't think the Euro will collapse and the way to un-fuck the eurozone is by making an effort to increase their asset column. It's pretty simple..drown in debt or set the market price for gold at a much higher level. No point in suffering when you have the option to clear debt.

Crypto central bank holdings may be the future but for now I see them making a concerted effort, once the $ is known to be fucked..ala no support from Saudi Oil..to wipe clean their debts via an increased price in gold. Will it outpace bitcoin? probably not. But timing is a factor. Gold to $45-60k an ounce, bitcoin +$100k per in today's $'s.

Hold both for insurance in case of time delays or a miscalculation.

I'm tempted to drop my silver holdings but it's a back-up to my back-up insurance policy. I don't believe it will witness the astronomical rise of the 2 previously mentioned but I've been wrong before.

yeah i did do that trade.  yes, i do have a vested interest.

but sincerely my views haven't changed b/c no new information has arisen; just affirmation of my thought processes.  in fact, every day since that trade i learn something new about Bitcoin that only reinforces those thoughts.

you might want to read some of the ideas i have made here about using a Bitcoin revaluation to back the USD much like you wish to happen with gold:  https://bitcointalk.org/index.php?topic=646186.msg7410222#msg7410222
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June 24, 2014, 06:23:12 PM
 #8852

back in...
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June 24, 2014, 06:26:00 PM
 #8853

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...
Nobody wants to be the one to trigger the collapse of the $USD / Global financial construct

Their is a Western -> Eastern power shift that looks to be coming to a head in the Saudi / Qatari vs Russia / Iran  energy war. The U.S is caught in the middle holding a very shitty hand of cards. The EU needs to decide what they're going to do. Would be wise to take advantage of this opportunity and drive up the price of gold / balance their balance sheets(gold is a floating asset) so the Euro can get in on some petro action before they get trumped by an eastern currency.

Gold as the central bedrock(glue) of the financial system and bitcoin as the efficient payment mechanism to transmit value and have easily movable / verifiable wealth.

The two aren't in competition as this thread would make people believe. They'll create a fairer and more efficient global financial system together.



i still disagree with this.  Bitcoin has too many advantages.  and it's more than just a payment mechanism; it's functioning as an increasing store of value.

You can, and that's fine. You probably made the trade of the century..if I recall right you sold gold for bitcoin near the peak? So you took the stance at the appropriate time. I don't ignore vested interest. It doesn't really matter what should be. The Eurozone, among others, can clear their balance sheets by eating up gold on the open market and placing a high bid. I don't think the Euro will collapse and the way to un-fuck the eurozone is by making an effort to increase their asset column. It's pretty simple..drown in debt or set the market price for gold at a much higher level. No point in suffering when you have the option to clear debt.

Crypto central bank holdings may be the future but for now I see them making a concerted effort, once the $ is known to be fucked..ala no support from Saudi Oil..to wipe clean their debts via an increased price in gold. Will it outpace bitcoin? probably not. But timing is a factor. Gold to $45-60k an ounce, bitcoin +$100k per in today's $'s.

Hold both for insurance in case of time delays or a miscalculation.

I'm tempted to drop my silver holdings but it's a back-up to my back-up insurance policy. I don't believe it will witness the astronomical rise of the 2 previously mentioned but I've been wrong before.

yeah i did do that trade.  yes, i do have a vested interest.

but sincerely my views haven't changed b/c no new information has arisen; just affirmation of my thought processes.  in fact, every day since that trade i learn something new about Bitcoin that only reinforces those thoughts.

you might want to read some of the ideas i have made here about using a Bitcoin revaluation to back the USD much like you wish to happen with gold:  https://bitcointalk.org/index.php?topic=646186.msg7410222#msg7410222
It's not what I wish to happen, it what I think will happen. We appear to be looking at the same broad picture so any geo-politics that I bring up will not help sway you. I'm of the mind that the rest of the world will do what is in their best interest (when I say the rest I'm referring to the key players who hold a substantial amount of gold)  and let / help gold reach a level that balances their books. I don't see why they wouldn't even if the USD goes bitcoin off of the back of their un-sold SR holdings (if they control them)

There's a lot of dirty balance sheets and if the U.S can no longer support them by suppressing oil, supporting them in their decisions militarily, they they must cleanse their sheets and welcome gas from Russia. Petro dollar will be dead to Europe as it should have been a decade ago.

Off to sleep. Will engage in convo tomorrow if you're up for it. I look forward to hearing your response.
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June 24, 2014, 06:30:53 PM
 #8854


yeah i did do that trade.  yes, i do have a vested interest.

but sincerely my views haven't changed b/c no new information has arisen; just affirmation of my thought processes.  in fact, every day since that trade i learn something new about Bitcoin that only reinforces those thoughts.
...

A good devout fundamentalist attitude.  It certainly shows since you forcibly reject any suggestion that there might be any risks whatsoever to the object of your zealotry.  In true form, you can look at literally anything and be so convinced that it demonstrates and reinforces your belief that you'll present it as such to the world.  Reminds me of how everything, no matter how awful, is proof of "God's will" to a certain large fraction of Christians.  To another faction of fruit-loops it is the work of the devil, and to a lot of people it is both simultaneously.


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June 24, 2014, 06:45:15 PM
 #8855


yeah i did do that trade.  yes, i do have a vested interest.

but sincerely my views haven't changed b/c no new information has arisen; just affirmation of my thought processes.  in fact, every day since that trade i learn something new about Bitcoin that only reinforces those thoughts.
...

A good devout fundamentalist attitude.  It certainly shows since you forcibly reject any suggestion that there might be any risks whatsoever to the object of your zealotry.  In true form, you can look at literally anything and be so convinced that it demonstrates and reinforces your belief that you'll present it as such to the world.  Reminds me of how everything, no matter how awful, is proof of "God's will" to a certain large fraction of Christians.  To another faction of fruit-loops it is the work of the devil, and to a lot of people it is both simultaneously.



oh stop.

i could easily just label you a "pessimist".  these processes take time and there are plenty of skeptics like yourself that sway the crowd in the other direction.  if these forums were filled with optimists or zealots, as you like to say, i might buy that we're in a bubble.  no such thing exists.  this is Bitcoin's Tension, as i like to call it.  hoards of ppl will be dragged, kicking and screaming as we go higher.  the fundamentals of the situation haven't changed for the worse; if anything they've gotten better.
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June 24, 2014, 06:51:42 PM
 #8856

ZipZap finds a more willing partner.  too bad for PayPoint:

http://www.coindesk.com/zipzap-resumes-cash-bitcoin-services-uk-shoppers/
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June 24, 2014, 07:30:22 PM
 #8857

Gold spiking higher

Has anyone been following the german repatriation (or lack thereof) news? Which probably had a lot to do with the initial spike last thursday. The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...

Don't forget the most prominent feature of gox/fed: the incredible LAG in withdraw operations!

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conspirosphere.tk
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June 24, 2014, 08:10:06 PM
 #8858

The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...

Don't forget the most prominent feature of gox/fed: the incredible LAG in withdraw operations!

lol. the Fed goxxed ze germans   Grin
how much funnier can it get?

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June 24, 2014, 08:59:40 PM
 #8859

Correct me if I'm wrong here but hasn't Germany collected less than 10 tonnes worth of the gold they requested back?  If I had to lay satoshi's my bet would be that recent increase in Gold prices at least partly linked.

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June 24, 2014, 08:59:41 PM
 #8860

The Fed is beginning to look a lot like Mt Gox. First some shitty excuses and misdirection, and then...

Don't forget the most prominent feature of gox/fed: the incredible LAG in withdraw operations!

lol. the Fed goxxed ze germans   Grin
how much funnier can it get?

note how none of this would've had to happen if they'd been dealing in Bitcoin.
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