Gold collapsing. Bitcoin UP.

[cypherdoc]

Debt Bomb, by Dominic Frisby, simply amazing:

http://www.youtube.com/watch?v=yzhonjgaryA

that WAS good. 

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[ineededausername]

Gold seems to be collapsing upwards the last few days

you mean like Bitcoin?

[molecular]

Debt Bomb, by Dominic Frisby, simply amazing:

http://www.youtube.com/watch?v=yzhonjgaryA

that WAS good. 

ouuuh yeah, baby!

[Dusty]

Dominic uploaded an updated version, here: http://www.youtube.com/watch?v=GXcLVDhS8fM

[silverbox]

That damn gold keeps collapsing in the wrong direction!!

Cover that GLD short @ 152 yet Cypher?

[cypherdoc]

That damn gold keeps collapsing in the wrong direction!!

Cover that GLD short @ 152 yet Cypher?

no.  have you sold GPL yet or bought more?

[silverbox]

That damn gold keeps collapsing in the wrong direction!!

Cover that GLD short @ 152 yet Cypher?

no.  have you sold GPL yet or bought more?

nope, still waiting.  I probably should have bought more at 1.50 thu .

[cypherdoc]

That damn gold keeps collapsing in the wrong direction!!

Cover that GLD short @ 152 yet Cypher?

no.  have you sold GPL yet or bought more?

nope, still waiting.  I probably should have bought more at 1.50 thu .

please post update; i'll help you.  GLD short -2.35%

[silverbox]

Aight

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 7/27

Bitcoin 8.91  (up ~65%)

Gold 1620  (down ~4%)

BTC is up significantly, Gold still hasn't collapsed.  BTC is outperforming gold.


GLD 157 (cyp sh @ 152)  (Better cover before BigBen sinks ya..)

GPL 1.65  (Silver lg  @ 1.98)  (Double down may be needed )

[cypherdoc]

GPL 1.65  (Silver lg  @ 1.98)  (Double down may be needed )

lol.  what happened to the %'s?  too painful?

nope, still waiting.  I probably should have bought more at 1.50 thu .

anxiety maybe?

[silverbox]

anxiety maybe?

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

[cypherdoc]

anxiety maybe?

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

i don't blame you at this point.  i have to admit, gold is a frustrating short.  fortunately my miner shorts are up alot but i'm watching carefully.  its amazing how far the system can stretch.  but warning signs are everywhere.

[tvbcof]

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

i don't blame you at this point.  i have to admit, gold is a frustrating short.  fortunately my miner shorts are up alot but i'm watching carefully.  its amazing how far the system can stretch.  but warning signs are everywhere.

I've really only 'actively played' one market:  Bitcoin.  I 'doubled down', or formally close to it in a mathematical sense multiple times from $16 -> $2.  Then I had to wait in the red for half a year or so.  I must say that I was somewhat frustrated...which was the motivating force to keep doubling down.  I had been prepared to do it one more time if BTC got below $2, but it didn't (yet) and Tradehill closed down and I've been standing pat since.

PM's on the other hand are the easiest and most stress free thing in the world.  Got to much money in the bank?  Convert some to phyzzz.  I try to ignore the FOMC completely so-as not to have the same influences as the rest of the herd.

[notme]

anxiety maybe?

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

What happens when they don't pull the trigger because the markets have been rising lately?

[cypherdoc]

anxiety maybe?

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

What happens when they don't pull the trigger because the markets have been rising lately?

markets are trying to frontrun the frontrun.

[cypherdoc]

very well written piece:

http://www.zerohedge.com/news/guest-post-bernanke-and-draghi-are-dangerous

[silverbox]

anxiety maybe?

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

What happens when they don't pull the trigger because the markets have been rising lately?

The markets pull back, and then rise again into the next FOMC..  I only give it about 30% chance that Ben will do anything at the meeting next week, its not one of the big meetings, September I think we have a 70+% chance to see QE action..

[tvbcof]

very well written piece:

http://www.zerohedge.com/news/guest-post-bernanke-and-draghi-are-dangerous

Seemed pretty ho-hum to me frankly.  The usual droning on about how fucked up things are and will be.  No real actionable information.

Whenever I hear someone go on about how 'liberty' and 'democracy' are in danger I usually think to myself that that person is somewhat behind the ball.  My personal belief is that to the extent that these things still exist it is mostly just an aftertaste and a forgone conclusion that they will vanish.  The challenge will be to win them back at some point and it's not to early to start thinking about and setting up for that struggle (which is probably why I retain an interest in p2p crypto-currencies.)

[miscreanity]

From an interview with FOFOA:

Most people who expect a catastrophic loss of confidence in the dollar seem to think it will begin in the financial markets, like a stock market crash or a Treasury auction failure or something like that. But I think it is more likely to come from where, as I like to say, the rubber meets the road. And here I'm talking about what connects the monetary world to the physical world: prices. I think these "worlds" are connected in two ways. The first is the general price level of goods and services and the second is the price of gold. If one of these two connections is broken by a failure to deliver the real-world items at the financial-system prices, then we suddenly have a real problem with the monetary side. So I think it will be a relatively quick and catastrophic event, but maybe not as dramatic as a major stock market crash. It will be confusing to most of the pundits as to what it really means, so it will take a little while for reality to sink in.

What happened with Bitcoin earlier this month is identical to the pattern in gold: a breakout move that starts to attract fresh interest from a wider demographic which is then muted through a sharp price drop. This keeps anyone who doesn't understand the underlying structure and fundamentals out of the game, allowing a continuing stable move toward appropriate valuation. In other words, price discovery is occurring in stages.

There's still a lack of recognition regarding the long term Bitcoin potential from the FO/FO/A camp, though. It's almost like cypherdoc is the Bitcoin side that FOFOA dismisses, and FOFOA is the gold side that cypherdoc dismisses.

As for Bitcoin's direction, the trading volume has tumbled to lows seen that preceded exchange price rises every time since the $5 level broke in May. Amateur and momentum traders are probably waiting for the a trigger rather than buying the dips. I'd say it's almost time to be ready for resumption of the measured, steady rise. Since the beginning of June, there's been a nearly perfect and stable 30-45 degree rise on the daily and weekly charts. With little sign of demand destruction aside from what happened during the spike above $9, the most likely direction is up.

Since early 2012, major volatility has subsided. So from late May, my gameplan has shifted to accumulation on daily declines in price (just like with gold) that are correlated with low volume, which all happen to have been weekends. Every time so far has been rewarded beautifully with an average cost now of about $5.85 per BTC from 11 signals over the past several weeks, including yesterday. Now that steady growth does seem to be the future course (with infrequent jumps in volatility), I think this strategy should run successfully for quite a while.

The following charts show the weekly and daily patterns:





Note that there was a sell trigger on the 21st and a buy on the 22nd at the daily level, but not the weekly.

[silverbox]

I love your posts miscreanity.