Gold collapsing. Bitcoin UP.

[SkRRJyTC]

USDX now under support... gold and silver now above resistance... stocks about to challenge their may highs...

Is the corner broken?

[miscreanity]

aye, fairly certain that gold was NOT listed as qualifying as a Zero Percent Risk-Weighted Item before this update.

It will likely do more for the large holder risk assessment sheets than it will for would be buyers though.

It's also a recent change that was made by the ECB, BIS, and numerous other major financial institutions. Gold is the only monetary instrument currently capable of providing sufficient liquidity for large scale international trade.

[cypherdoc]

USDX now under support... gold and silver now above resistance... stocks about to challenge their may highs...

Is the corner broken?

not yet.

[SkRRJyTC]

USDX now under support... gold and silver now above resistance... stocks about to challenge their may highs...

Is the corner broken?

not yet.

Livin on the edge?

Edit... although if today is a top in stocks and metals... the drop off will be sick

[cypherdoc]

USDX now under support... gold and silver now above resistance... stocks about to challenge their may highs...

Is the corner broken?

not yet.

Livin on the edge?

Edit... although if today is a top in stocks and metals... the drop off will be sick

you're not allowed to edit 60 min after your original post.

[cypherdoc]

USDX now under support... gold and silver now above resistance... stocks about to challenge their may highs...

Is the corner broken?

not yet.

Livin on the edge?

Edit... although if today is a top in stocks and metals... the drop off will be sick

see, the real question is; did you bite?

[molecular]

the thing that gives me confidence that i did the right thing is that we continue to get newbies to the forum like this guy Coreadrin_47 who's writings remind we of what i've been saying all along.  it appears to me that more and more ppl see the same things that i do and i can't believe we are all seeing an illusion.

There are cases of mass-illusions. Well, isn't all this gold/bitcoin has value thing a mass illusion anyhow?

I don't really care wether or not it's an illusion as long as it give me a stable store for my modest wealth.

[molecular]

I believe this would be the most significant section:

A. Zero Percent Risk-Weighted Items

The following exposures would receive a zero percent risk weight under the proposal:

Cash;
Gold bullion;
Direct and unconditional claims on the U.S. government, its central bank, or a U.S. government agency;
Exposures unconditionally guaranteed by the U.S. government, its central bank, or a U.S. government agency;
Claims on certain supranational entities (such as the International Monetary Fund) and certain multilateral development banking organizations
Claims on and exposures unconditionally guaranteed by sovereign entities that meet certain criteria (as discussed below).

Is that a change from current policy? Is gold bullion currently an "item" that's considered 0% risk by the FDIC or not? ... If this *is* a change from existing policy, I consider it a significant one.

aye, fairly certain that gold was NOT listed as qualifying as a Zero Percent Risk-Weighted Item before this update.

It will likely do more for the large holder risk assessment sheets than it will for would be buyers though.

I'm pretty sure that's new, too. Shouldn't we see huge impact on the gold price?

[sunnankar]

aye, fairly certain that gold was NOT listed as qualifying as a Zero Percent Risk-Weighted Item before this update.

It will likely do more for the large holder risk assessment sheets than it will for would be buyers though.

It's also a recent change that was made by the ECB, BIS, and numerous other major financial institutions. Gold is the only monetary instrument currently capable of providing sufficient liquidity for large scale international trade.

I have already started helping some people formulate a USD/gold to Bitcoin carry-trade. This will keep demand for gold fairly stagnant but allow for a switch in demand from USD to Bitcoin, on a small scale (few tens of millions). Going to be extremely exciting over the next few years.

[HorseRider]

Cypher, if you check the historic bitcoin price data, you will be able find easily that if a drawdown larger than 15% happened, another drawdown in 1-2 days is extremely likely to happen. Considering that these kind of drawdowns has happened only 19 times.

I would like to bet with you one bitcoin, that there is going to be another drawdown, larger than 10% from now on in 5 days. now the price = 9.87 USD on mtgox.

[silverbox]

Those miners seem to be turning

GPL 1.95  (silver lg @ 1.98)

Come to papa

[cypherdoc]

Cypher, if you check the historic bitcoin price data, you will be able find easily that if a drawdown larger than 15% happened, another drawdown in 1-2 days is extremely likely to happen. Considering that these kind of drawdowns has happened only 19 times.

I would like to bet with you one bitcoin, that there is going to be another drawdown, larger than 10% from now on in 5 days. now the price = 9.87 USD on mtgox.

if you make it 15% from $9.87, sure, why not.

[bitsire]

mybitcointrade.com is polling to see if people would be interested in trading metals on their site - if you are interested, please let them know here:

https://bitcointalk.org/index.php?topic=81357.100

[silverbox]

Since gold is performing so nicely.


This thread was started 3/13:

Bitcoin  5.40

Gold 1690


today 8/20:

Bitcoin 9.88 (up ~83%)

Gold 1654  (down ~2%)


BTC is barely hanging on after the CRASH (It'll plummet like a rock if Pirate starts paying in any meaningful fashion.)

Gold is in this season! (apparently gold is too cool to collapse!)  

BTC is still outperforming gold.


GPL 1.98  (Silver lg  @ 1.98)  Looky looky.. Silverbox's stock pick is dead even and rising..

[conspirosphere.tk]

BTC is barely hanging on after the CRASH (It'll plummet like a rock if Pirate starts paying in any meaningful fashion.)

I don't get why BTC is supposed to plunge if Pirate pays. Just to release the panic and drama?
I am waiting some coins from Pirate and have no intentions to sell if I get them, even if I could make some fast bucks cheap.

BTW: it could be advisable to keep an eye on silver too.

[silverbox]

BTC is barely hanging on after the CRASH (It'll plummet like a rock if Pirate starts paying in any meaningful fashion.)

I don't get why BTC is supposed to plunge if Pirate pays. Just to release the panic and drama?
I am waiting some coins from Pirate and have no intentions to sell if I get them, even if I could make some fast bucks cheap.

BTW: it could be advisable to keep an eye on silver too.

The actively traded/used coins is in the 2-3 million range. 

Add 500k+ coins to those and even if only a small portion sells it'll drop the price.

In addition, the order book is much thinner on the buy side then the ask side, so the natural pressure is to go down atm.

[sunnankar]

In addition, the order book is much thinner on the buy side then the ask side, so the natural pressure is to go down atm.

That is the assumption .....

[silverbox]

In addition, the order book is much thinner on the buy side then the ask side, so the natural pressure is to go down atm.

That is the assumption .....

That is a fact.

Look for yourself.

http://bitcoin.clarkmoody.com/

[silverbox]

In addition, the order book is much thinner on the buy side then the ask side, so the natural pressure is to go down atm.

That is the assumption .....

That is a fact.

Look for yourself.

http://bitcoin.clarkmoody.com/

The assumption is that the order book will cause "natural pressure" to "go down" if it is much thinner on the buy side, not that the order book is much thinner on the buy side then the ask side.

Uh.. Sunnankar put "much thinner on the buy side" in italics..

Edit: Its a fact that it is much thinner on the buy side.

If you want to argue that a order booked stacked one direction exerts absolutely no pressure on future direction go ahead, but don't expect me to believe it

[muyuu]

In addition, the order book is much thinner on the buy side then the ask side, so the natural pressure is to go down atm.

That is the assumption .....

That is a fact.

Look for yourself.

http://bitcoin.clarkmoody.com/

Not really. Only orders close to the bid/ask count. There's always people with orders left in silly expensive asks and silly cheap bids.

http://btccharts.com/#m=mtgox-BTC-USD

In other currencies the bid side is remarkably heavier https://intersango.com/orderbook.php and has been since the drop. Net BTC leaving the US I guess.