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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1953910 times)
sgbett
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July 16, 2014, 11:25:14 AM
 #9521

Hashrate back to an all time high and distribution continues to look better.

Great news everyday.

Major retailers offering large discounts to get our bitcoin business.

Former head of the U.S mint buying bitcoin..also accompanied by several billionaires

and people continue to sell.

wtf people   Roll Eyes

Next rise is going to burn a lot of "bears"

its simply impatience. There's another thread asking why its taking so long. From July 2011 to November 2011 was a 6 month grind from 32 to 1.98. That was painful. But having the fortitude and patience to go to the beach or buy that dip yielded in the thousands of percent return.

there will always be those in for the quick flip.

It felt like insanity at the time. Not helped by the failure to deploy 700 bitcoinicabux before they got zhoutonged Wink

It doesn't feel half as crazy this time really, (maybe if we went double digits it might) and I don't mind waiting. Having said that, 10k before year end would pay pretty big for me due to a speculative wager I made on bit bet a long time ago Smiley

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July 16, 2014, 05:38:28 PM
 #9522

Hashrate back to an all time high and distribution continues to look better.

Great news everyday.

Major retailers offering large discounts to get our bitcoin business.

Former head of the U.S mint buying bitcoin..also accompanied by several billionaires

and people continue to sell.

wtf people   Roll Eyes

Next rise is going to burn a lot of "bears"

its simply impatience. There's another thread asking why its taking so long. From July 2011 to November 2011 was a 6 month grind from 32 to 1.98. That was painful. But having the fortitude and patience to go to the beach or buy that dip yielded in the thousands of percent return.

there will always be those in for the quick flip.

It felt like insanity at the time. Not helped by the failure to deploy 700 bitcoinicabux before they got zhoutonged Wink

It doesn't feel half as crazy this time really, (maybe if we went double digits it might) and I don't mind waiting. Having said that, 10k before year end would pay pretty big for me due to a speculative wager I made on bit bet a long time ago Smiley

yes, but there's a major difference: News this time is extremely positive, back then it was all doom, gloom and the death of Bitcoin in the news. It was a capitulation type mood.

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July 16, 2014, 06:54:35 PM
 #9523



It felt like insanity at the time. Not helped by the failure to deploy 700 bitcoinicabux before they got zhoutonged Wink



you had to use my meme, Zhoutonged. Roll Eyes

Look, everyone around knows I'm annoyed at those guys for not giving me credit for coming up with that name. It's not like I want them to pay me or even constantly remind people that it was me who coined the term. All I'd like is a little recognition so people can give credit where credit is due.

What really irks me is that they claim the invented it initially. Only when called out did they admit, on LTB, that maybe it wasn't them who did. I could give 2 shits if they run with the name and make bank off it; that would just validate how creative the name is/was. But don't sit there and claim you were the ones with the creativity. Plus, it's all documented in the original thread.

I just don't get that kind of dishonesty. I know this is petty. Rant off:

https://bitcointalk.org/index.php?topic=49445.0
smoothie
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July 16, 2014, 07:48:28 PM
 #9524

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.

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LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
giveBTCpls
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July 16, 2014, 10:08:18 PM
 #9525

I sold some gold the other day, just little chain my mom had. I had to just to pay the bills. They gave me like 280€. Pretty fucking depressing that you are forced to sell things with sentiental value just to not be kicked out.

smoothie
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July 16, 2014, 10:43:44 PM
 #9526

This is also precisely why you can never blame hodlers or deflation for not being able to buy bitcoin.
there's always someone willing to sell as we're witnessing.  

One interesting point is that we know from Barry Silbert that there's ALOT of buying going on at second market offline because buyers don't want top move the market up while accumulating. That can only go on so long. Eventually they will have to enter the real market and pay up.

Once we start ramping, they will have to chase. That's always fun to watch.

When buying or selling crypto in general it is always a smart move when accumulating or trying to ease your way out not to move the price in doing so.

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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.
 
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July 17, 2014, 12:07:34 AM
 #9527

I sold some gold the other day, just little chain my mom had. I had to just to pay the bills. They gave me like 280€. Pretty fucking depressing that you are forced to sell things with sentiental value just to not be kicked out.

Sorry for that mate Sad
Wonder if private addresses will start being engraved in jewelry so that we get more attached to them...
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July 17, 2014, 12:57:12 AM
 #9528

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.
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July 17, 2014, 01:03:07 AM
 #9529

Well, there you have it:

This morning GHash.IO, a popular bitcoin mining pool, announced in a statement that in the future it will “not exceed more than 39.99% of the overall Bitcoin hashrate.”

http://techcrunch.com/2014/07/16/popular-bitcoin-mining-pool-promises-to-restrict-its-compute-power-to-prevent-feared-51-fiasco/

And its a well defined 40% warning well before 51%.
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July 17, 2014, 01:58:42 AM
 #9530

I predict this will push PayPal to accept Bitcoin as a matter of survival; or they just go out of business:

http://m.fastcompany.com/3033119/fast-feed/visa-launches-a-paypal-competitor?partner=rss&utm_content=buffer4a8a4&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
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July 17, 2014, 02:06:41 AM
 #9531


Yeah, it can definitely cause them grief for online retailers who integrate this; the Visa integration is supposedly seamless and you don't have to leave the merchant's website to make payment.  That's huge from a convenience standpoint.

I guess eBay.com will always have total control over the PayPal payment integration and give it priority...
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July 17, 2014, 02:53:18 AM
 #9532

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.
notme
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July 17, 2014, 03:06:59 AM
 #9533

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.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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July 17, 2014, 03:29:27 AM
 #9534

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
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July 17, 2014, 03:34:14 AM
 #9535

Conflict will cause a search for alternatives:

http://t.co/amSLWqXNCE
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July 17, 2014, 04:05:56 AM
 #9536

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
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July 17, 2014, 04:29:54 AM
 #9537

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
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July 17, 2014, 04:35:54 AM
 #9538


This thread is what is awesome.  Just started catching up on it today.  Thank you, cypherdoc!
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July 17, 2014, 04:38:00 AM
 #9539

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

                                                                       
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July 17, 2014, 04:44:56 AM
 #9540

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 Wink:

Gold: I Smell a Trap

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