Gold collapsing. Bitcoin UP.

[cypherdoc]

This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:

The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.

Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.

When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies

And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc.

In that case I'd say it will be Gold UP, Bitcoin WAY UP.

I doubt they'll get an sdr going. Especially given yesterday's announcement:

http://abcnews.go.com/Business/wireStory/emerging-nations-plan-world-bank-imf-24555957

China has been rebuffed for years from imf inclusion.

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[notme]

This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:

The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.

Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.

When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies

And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc.

In that case I'd say it will be Gold UP, Bitcoin WAY UP.

I doubt they'll get an sdr going. Especially given yesterday's announcement:

http://abcnews.go.com/Business/wireStory/emerging-nations-plan-world-bank-imf-24555957

China has been rebuffed for years from imf inclusion.

Exactly, the BRICS each just threw in $20 billion in spare cash to start their own international bank.  Next time the US or Europe fucks up we will be begging them for loans.  Soon enough, they will own all our debt and will start to be the ones to make the rules.

[FNG]

U.S Gov needs to stop shooting themselves in the feet

http://www.zerohedge.com/news/2014-07-16/putin-responds-us-sanctions-will-boomerang-and-cause-very-serious-damage

[cypherdoc]

Conflict will cause a search for alternatives:

http://t.co/amSLWqXNCE

[cypherdoc]

My opinions are spreading like wildfire:

Technology has advanced to the point where we can use things like bitcoin instead of heavy, easy-to-steal physical commodities like gold.

http://www.bloombergview.com/articles/2014-07-16/gold-dreamers-face-harsh-reality

[cypherdoc]

Pretty awesome:

http://www.prnewswire.com/news-releases/ringplus-the-first-us-telecom-to-accept-bitcoin-litecoin-and-dogecoin-for-cell-phone-services-267351241.html

[vuduchyld]

Pretty awesome:

http://www.prnewswire.com/news-releases/ringplus-the-first-us-telecom-to-accept-bitcoin-litecoin-and-dogecoin-for-cell-phone-services-267351241.html

This thread is what is awesome.  Just started catching up on it today.  Thank you, cypherdoc!

[jeffthebaker]

2 years in and OP is still active. 10/10 great inspirational story for generations to come.

[cypherdoc]

2 years in and OP is still active. 10/10 great inspirational story for generations to come.

actually, just to be accurate, this thread is an extension of this one from August 2011 :

Gold: I Smell a Trap

most of the heavy academic debate occurred there between miscreanity and myself. What ever happened to that boy anyway? 

[smoothie]

This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:

The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.

Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.

When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies

And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc.

In that case I'd say it will be Gold UP, Bitcoin WAY UP.

I agree with some what you posted.

I still believe the central banks will inflate to oblivion whether it be on paper or digitally. Revaluation can happen also after a hyperinflation weimar-style as well.

SDR's are no different than any other fiat so it really doesn't matter if it is them or the fed.

[smoothie]

https://twitter.com/EdmundCMoy/status/489185805382868992

"Edmund Moy, 38th Director of the US Mint, just tweeted his first purchase of bitcoin"

Epic. It is catching on like...wild fire coming soon.

[zeetubes]

Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.

[/quote]

I'm pretty sure the IMF is just an extension of the Fed which is why Russia and China are so pissed off. Their funding is a little opaque but guaranteed most of it comes from printed dollars and euros. They're basically a bunch of thugs.

[zeetubes]

Gold went back above $1300 and was spiking until the fed managed to get it back under control. You'll never see any stock acting the way gold does. After $3B+ of short selling over a couple of days, people are still buying. The reason investors buy gold is as a hedge against out of control inflation or because of conflict/war. Thus the vertical spikes followed by an urgent take down. BTC price is currently slightly sagging so investors' perception is not yet equivalent to digital gold.

[molecular]

This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:

The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.

I'm not sure about this. There could also be enormous pressure to sell assets. Bitcoin could be one of them.

[majamalu]

This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:

The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.

I'm not sure about this. There could also be enormous pressure to sell assets. Bitcoin could be one of them.

When profitability is scarce and difficult to obtain, capital tend to compete for appreciation opportunities.

Given its properties, and since there are not many people who borrowed in order to buy bitcoins, btc would be seen as one of the goods with greater potential for appreciation.

[okthen]

https://twitter.com/EdmundCMoy/status/489185805382868992

"Edmund Moy, 38th Director of the US Mint, just tweeted his first purchase of bitcoin"

Epic. It is catching on like...wild fire coming soon.

Wow! This is really epic, I'd even say symbolic.
A turning of tides, perhaps?

[Torque]

This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:

The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.

I'm not sure about this. There could also be enormous pressure to sell assets. Bitcoin could be one of them.

I agree, I've pondered both of the possible scenarios (mega btc rally vs. mega btc dump/crash) and either one are equally valid.  Bitcoin would have to establish itself as a SOLID asset deemed better than fiat in the short term for a rally, otherwise a mega market crash would be inevitable.  In a financial crisis, people run to the safest asset in the short term.  That's why stocks get dumped for fiat and gold, even stocks of companies that are solid.

I mean, what would stop a mass public run on liquidating bitcoin for hard cash?  The only thing I could think of is capital controls on bitcoin conversion (especially if by that time, major world financial markets actually depended on Bitcoin to some degree).  Perhaps the world banks wouldn't even have enough fiat to cover all the selling, because there might be a bank run at the same time?  Negative interest rates on bank fiat deposits to deter sellers, perhaps?

I'm not sure a hard financial crash would even be possible anymore, now that the world's central banks know that they can just fire up QE and confiscate savings in the short term.

[FNG]

I'm not sure a hard financial crash would even be possible anymore, now that the world's central banks know that they can just fire up QE and confiscate savings in the short term.

Sure it is. Loss of faith can always cause a massive crash. In a hyper-inflation scenario stocks may rise nominally but they'll definitely crash in real terms. Time will tell but it looks as if the rest of the world is set to pull the trigger and move away from the current dollar centric system..the glut of dollars is sure to flow.

[notme]

I'm not sure a hard financial crash would even be possible anymore, now that the world's central banks know that they can just fire up QE and confiscate savings in the short term.

Sure it is. Loss of faith can always cause a massive crash. In a hyper-inflation scenario stocks may rise nominally but they'll definitely crash in real terms. Time will tell but it looks as if the rest of the world is set to pull the trigger and move away from the current dollar centric system..the glut of dollars is sure to flow.

We're still the largest consumer economy.  I'm not sure the rest of the world is willing to give up their biggest customer.  They are certainly trying to lessen the impact of such a move for when it comes, but I don't think that time has come yet.  The BRICS need a bit more time to strengthen their consumerism.  Their middle classes are rapidly growing, but they are more sensible so it takes 2 middle class Chinese to consume as much as 1 middle class person from the US.  But they have the numbers, so it is only a matter of time.

[marcus_of_augustus]

This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:

The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.

Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.

When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies

And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc.

In that case I'd say it will be Gold UP, Bitcoin WAY UP.

I agree with some what you posted.

I still believe the central banks will inflate to oblivion whether it be on paper or digitally. Revaluation can happen also after a hyperinflation weimar-style as well.

SDR's are no different than any other fiat so it really doesn't matter if it is them or the fed.

I don't think they will inflate ... it has been quite well telegraphed already that they will play the bail-in card, i.e. steal directly from 'wealthy' bank accounts. This evil idea has also been promoted widely and loudly by the IMF mandarins.

Of course, widespread bail-ins happening in the current broken fiat bank system are insanely bullish for hard to seize assets, like bitcoin.