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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805635 times)
cypherdoc
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June 29, 2014, 03:39:09 AM
 #8961

back over 600.

they can't hold this down forever.
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smoothie
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June 29, 2014, 04:21:05 AM
 #8962



LOL....
Quote
The bank said depositors withdrew about 800m levs ($555.88m) and announced it would close all branches at 1200 GMT until Monday for “logistical reasons”. It said it had enough funds to meet clients’ demands.

what a joke! lol  Grin Grin Grin

The very reason I do not trust banks....3rd party risk.

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molecular
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June 29, 2014, 08:12:00 AM
 #8963

hey FNG,

you oughta listen to this talk by Wences.  he compares and contrasts Bitcoin with gold extensively.

https://www.youtube.com/watch?v=NERAN-89j8M&feature=youtu.be

great video. most notable insights I share with Wences are:

  • In pre-money times, barter has not been used. They tracked debt to run their economies.
  • The first stage in which bitcoin is going to develop is store of value, not payment mechanism
  • Bitcoin volatility is a feature, not a bug
  • EDIT: the honey badger of use cases is bitcoin <-> fiat cash local exchange
  • EDIT: protocols have very strong network effects, money has very strong network effects, a protocol about money has very very strong network effects

Those last 2 2nd and 3rd point are explained around 12:40 - 14:00 in the video.

Here's a claim I cannot believe:

  • Today we're at 100,000 people a day buying their first bitcoin. (14:40)

what? Where's he getting this number. Seems way too high to me.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
pinky
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June 29, 2014, 08:37:26 AM
 #8964

Here's a claim I cannot believe:

  • Today we're at 100,000 people a day buying their first bitcoin. (14:40)

what? Where's he getting this number. Seems way too high to me.

Yeah, I have no idea where he got this number from - it is more likely that 100,000 per month (I hope).
molecular
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June 29, 2014, 10:16:44 AM
 #8965

fundamentals aside, what do you guys think of this technical pic of silver?


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Pruden
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Sirius Iberia - Nos tomamos el Bitcoin en serio


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June 29, 2014, 11:10:52 AM
 #8966

look out Spain. bail ins:

NIRP Strikes: Spain To Create Tax On Bank Deposits:

http://www.zerohedge.com/news/2014-06-26/nirp-strikes-spain-create-tax-bank-deposits
It's just a 0,02% tax on the banks. Some regions established it years ago, as early as 2001. Besides, competition for deposits is very strong. As is usual with Zero Hedge, there's nothing to see here, carry on.

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June 29, 2014, 11:18:37 AM
 #8967

fundamentals aside, what do you guys think of this technical pic of silver?



I am loathe to enter such a heavily manipulated market again, but if there ever was was an entry point that looks like it.

Bro, do you even blockchain?
-E Voorhees
cypherdoc
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June 29, 2014, 02:23:28 PM
 #8968

Professor Bitcorn is about to go down in history.
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June 29, 2014, 03:26:40 PM
 #8969

fundamentals aside, what do you guys think of this technical pic of silver?



There is no such thing as a technical pic of silver, but some of the base metals' prices still seem to be driven by supply and demand. Price discovery in economics ended many years ago. Perhaps we can talk about a technical pic of Libor (Barclays used to run an ad proclaiming they had the best "fixed" rates for savers).
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June 29, 2014, 03:36:52 PM
 #8970

fundamentals aside, what do you guys think of this technical pic of silver?



silver had a bubble, then it corrected itself, now its trying to bottom. silver is very volatile, I think 17.5$ coming relatively soon, silver possibly as low as 13$ for a day in 2014-2015 for

domob
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June 29, 2014, 06:27:49 PM
 #8971

Yes, I was very surprised to read about it, too.  (Not that the general situation surprises me, but that the media report about things like these is relatively new to me.)  Here's another report (in German): http://orf.at/stories/2235964/  They even refer to the ones telling others to withdraw their money as "criminals".  Very interesting indeed!

Use your Namecoin identity as OpenID: https://nameid.org/
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June 29, 2014, 09:12:29 PM
 #8972

Here's a claim I cannot believe:

  • Today we're at 100,000 people a day buying their first bitcoin. (14:40)

what? Where's he getting this number. Seems way too high to me.

Yeah, I have no idea where he got this number from - it is more likely that 100,000 per month (I hope).
I understood it as an interpretation. I heard 100,000 buying Bitcoin like the statistic was derived from active training.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
FRNZ
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June 29, 2014, 09:25:10 PM
 #8973

Professor Bitcorn is about to go down in history.

This article contains some fresh quotes from the good professor.

https://news.vice.com/article/silk-road-bitcoin-auction-opened-by-us-marshals-service

had no idea he's still around
cypherdoc
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June 29, 2014, 10:47:53 PM
 #8974

Professor Bitcorn is about to go down in history.

This article contains some fresh quotes from the good professor.

https://news.vice.com/article/silk-road-bitcoin-auction-opened-by-us-marshals-service

what's so mystifying is that someone, with his supposed expertise in markets, can make such ludicrous statements about the Bitcoin price and the market place surrounding it. 

his logic is even worse than some of the trolls that populate this forum.  i'd even go as far as to say they are childish in that it's clear he has an agenda and is most offended by the price NOT doing what he wants it to.  i wonder if he's ever traded a stock or bond in his life. 

what's also hypocritical is that he supposedly owns some bitcoin.

sometimes it's worse not to know what you don't know. 
cypherdoc
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June 30, 2014, 03:02:32 AM
 #8975

Looks to me like altcoins decoupling inversely to Bitcoin:

windjc
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June 30, 2014, 03:04:21 AM
 #8976

Looks to me like altcoins decoupling inversely to Bitcoin:



Good time to buy altcoins then.

If you haven't heard about what is happening with GAME, check it out.  It's revolutionizing gaming. https://bitcointalk.org/index.php?topic=1266597.0
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June 30, 2014, 03:19:49 AM
 #8977

Looks to me like altcoins decoupling inversely to Bitcoin:



Good time to buy altcoins then.

Not yet...wait for blood in the streets.

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
justusranvier
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June 30, 2014, 04:04:08 AM
 #8978

Good time to buy altcoins then.
There's never a good time to buy altcoins.

The only people who profit from altcoins are those who are in on the premine, because they don't have to buy theirs.
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June 30, 2014, 04:06:19 AM
 #8979

Good time to buy altcoins then.
There's never a good time to buy altcoins.

The only people who profit from altcoins are those who are in on the premine, because they don't have to buy theirs.

Not true. In fact, blatantly false.

If you haven't heard about what is happening with GAME, check it out.  It's revolutionizing gaming. https://bitcointalk.org/index.php?topic=1266597.0
Melbustus
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June 30, 2014, 04:24:59 AM
 #8980

Looks to me like altcoins decoupling inversely to Bitcoin:

...


Yes, indeed. What I think is happening is that, finally, mercifully, the market is understanding that none of the popular alts today offer anything meaningful over bitcoin. So why not just use bitcoin?

A few dynamics are playing out:

1) The litecoin fanboys' idiotic "ASIC-resistant"/scrypt-is-better rationale is finally empirically false (though those of us with just 1/3 of a brain figured that out in 2012). So that entire family tree of coins is now obviously just clones/tweaks.
2) The new crop of anonymity promising coins is getting even the relatively thick-headed to question why these alts that offer nothing over bitcoin command such value. All the discussion of fungibility has raised the anon issue to the surface, and I think many people have realized that it might be the first meaningful "feature" an alt could actually offer. It looked like the test was going to be Zerocoin, but now we're seeing the CryptoNotes supposedly offer this. Whatever the ultimate reality of whether those coins do what they claim, or what may ultimately win that particular use-case battle, the point is that more would-be lite- nxt- dark- feather- junk- coin fanboys are now asking "why?" just a little more deeply. And that's not a good thing for any coin but bitcoin.


Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
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