Gold collapsing. Bitcoin UP.

[cypherdoc]

lol, where did Ben go?

[1714047606]

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[oakpacific]

Is it finally it?

[vokain]

Gottttta be

[molecular]

what are you guys on about?

[damnek]

I think it's about the stock market which looks like it's finally rolling over. S&P broke down through an important support line yesterday. I wonder if this bullish or bearish for bitcoin.. we'll see.

edit: and with it gold seems to be heading south again

[Miz4r]

Potentially a small percentage of the money that becomes available from all the people selling their stocks and gold could flow into bitcoin. They have to go somewhere, and there are not that many profitable places left. However people who suffer big losses there and who are also invested into bitcoin could be selling some of their bitcoins to compensate for their losses and remove risk of losing even more money. I wonder what all that USD is going to do though, who wants to compete with Bernanke's fake money that he has been throwing around like confetti?

[KarmaShark]

This trading week in the US markets will be very telling, as will the action we see @ Comex/Au and Ag.

[cypherdoc]

Speculative attack = Borrow to Buy Bitcoin.

or BBB.

[b!z]

Do you believe there's a point where Bitcoin will follow the other commodities?

Not in the next few years. Gold is something you can hold in your hand, many people who are new to technology would be skeptical about Bitcoin as it is digital.

[cypherdoc]

you too can do a George Soros.

[molecular]

you too can do a George Soros.

I know you hate gold and all, but what is the colour of that coin in your avatar? It is gold! And why is it in the shape of a coin?

Like it or not even you know the power of a gold coin and what it represents. Adding the Baht logo to a gold coin tricks even the most hardcore delusionalists into thinking it is something it is really not.

Like it or not there is a place for gold, even if for you it is limited to your avatar.

/drunken rant

in vino veritas

[tvbcof]

you too can do a George Soros.

I know you hate gold and all, but what is the colour of that coin in your avatar? It is gold! And why is it in the shape of a coin?

Like it or not even you know the power of a gold coin and what it represents. Adding the Baht logo to a gold coin tricks even the most hardcore delusionalists into thinking it is something it is really not.

Like it or not there is a place for gold, even if for you it is limited to your avatar.

/drunken rant

Hear that Cypherdoc?  Time to man up and change your avatar to some other color.  My Krugerrands will remain a funny off-gold hue due to the alloy which imparts extra durability.  I think I still have some Maples which are more 'pure' as it were, but I've not checked that SD box for many years and cannot remember exactly what the hell I have in there.

[cypherdoc]

you too can do a George Soros.

I know you hate gold and all, but what is the colour of that coin in your avatar? It is gold! And why is it in the shape of a coin?

Like it or not even you know the power of a gold coin and what it represents. Adding the Baht logo to a gold coin tricks even the most hardcore delusionalists into thinking it is something it is really not.

Like it or not there is a place for gold, even if for you it is limited to your avatar.

/drunken rant

Hear that Cypherdoc?  Time to man up and change your avatar to some other color.  My Krugerrands will remain a funny off-gold hue due to the alloy which imparts extra durability.  I think I still have some Maples which are more 'pure' as it were, but I've not checked that SD box for many years and cannot remember exactly what the hell I have in there.

to be honest, the orange and green one's were my first choices, followed by cybrbeast's own avatar.

problem was, he couldn't get them to display with enough resolution b/c of the forum's limitations.

so i ended up choosing the gold one reluctantly (although i must say, those reflections look cool, eh?)  

[cypherdoc]

The Daaash for Digital Caaash 

[vokain]

Gotta say, I'm glad to have this perspective and being on this side of things with all of us here 

[wachtwoord]

The Daaash for Digital Caaash 

FYP. Let's stop referring to monopoly money as cash

[molecular]

The Daaash for Digital Caaash 

FYP. Let's stop referring to monopoly money as cash

noone was.

[wachtwoord]

The Daaash for Digital Caaash 

FYP. Let's stop referring to monopoly money as cash

noone was.

The word digital is redundant than as per my fix isn't it?

[molecular]

The Daaash for Digital Caaash 

FYP. Let's stop referring to monopoly money as cash

noone was.

The word digital is redundant than as per my fix isn't it?

now I see what you did there.

[Zangelbert Bingledack]

I find the whole "cash" thing (even "coins") idiosyncratic. Bitcoin isn't cash; it does away with the need for cash, coin, or anything actually - or even virtually - changing hands. Those are old tech, artifacts of an age when society was both too big and too low-tech to keep track of transactions in a universal ledger. Tiny communities could use a ledger system like rai stones, but for millennia the technology needed to enable a universal ledger for the global economic community was unavailable, so people never moved beyond hard objects and centralized trust systems ultimately based on them. Bitcoin is that universal ledger, enabled by recent technological innovations, obviating the need for any media of exchange at all. Calling these tickmarks in the ledger "coins" is just to make it sound familiar to people; ultimately it is a harmful distortion.

Failure to fully grasp this may result in: wondering what bitcoins are "backed by," fretting about altcoins (the world only needs one universal ledger, no "gold and silver" ledgers), losing arguments with Bitcoin skeptics, misjudging the significance (or insignificance) of BM+OT (or Ripple), and generally being a lily-livered weak hand.