smoothie
Legendary
Offline
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
|
|
October 13, 2013, 10:18:54 AM |
|
1 ozt gold is very close to 10BTC at the moment, so that is the nominal value we are putting on the Gold Bitcoin Specie pieces. The QR will give the current spot market value as it changes across the years in most currencies.
Yes. I tend to think in the next 12 months we will see that gap close between BTC and GOLD.
|
███████████████████████████████████████
,╓p@@███████@╗╖, ,p████████████████████N, d█████████████████████████b d██████████████████████████████æ ,████²█████████████████████████████, ,█████ ╙████████████████████╨ █████y ██████ `████████████████` ██████ ║██████ Ñ███████████` ███████ ███████ ╩██████Ñ ███████ ███████ ▐▄ ²██╩ a▌ ███████ ╢██████ ▐▓█▄ ▄█▓▌ ███████ ██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─ ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌ ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─ ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩ ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀ ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀` ²²² ███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
|
|
|
NewLiberty
Legendary
Offline
Activity: 1204
Merit: 1002
Gresham's Lawyer
|
|
October 13, 2013, 01:25:07 PM Last edit: October 13, 2013, 05:05:33 PM by NewLiberty |
|
That gold and debt chart is since 2000. Anyone have one for the last 100 years?
There is a rough homemade chart, no guaranty for its accuracy. Hope it helps in a way. Gold was $ 430 in beginning of 1915. $ 430 was a lot of money at that time (Average car was $490 and yearly wage $600). That chart is not the chart sought as it is a ratio (inflation adjusted) rather than absolute. Gold was never $430 in 1915, as Goat correctly points out, it was about US$20-21 up until 1930 The gold price in dollars follows the debt limit very closely for movement over the last 100 years. During much of the earlier years there were a couple different types of gold standards, so that gold/dollar were pegged to each other and the line was pretty flat for both debt and gold price during that earlier period. This is why the current manipulation stands out as a sore thumb, both in the scale, and the rationale. Gold price is being pushed to accomplish some particular and finite policy, political, and logistical goals.
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 13, 2013, 10:16:48 PM |
|
only 5 days in Bitcoin history where the price was higher than now.
Gold down. Bitcoin UP.
|
|
|
|
Odalv
Legendary
Offline
Activity: 1414
Merit: 1000
|
|
October 13, 2013, 10:27:44 PM |
|
only 5 days in Bitcoin history where the price was higher than now.
Gold down. Bitcoin UP.
I can see more days at least twice as more.
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 13, 2013, 10:37:09 PM |
|
time for an update zerg!
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 14, 2013, 02:20:32 AM |
|
only 5 days in Bitcoin history where the price was higher than now.
Gold down. Bitcoin UP.
I can see more days at least twice as more. Dont use the gox price. lol, maybe we should use BTCChina. go China go!
|
|
|
|
oakpacific
|
|
October 14, 2013, 02:36:28 AM |
|
It ain't it until people/govs start dumping US treasuries.
Will it default?
|
|
|
|
oakpacific
|
|
October 14, 2013, 02:44:52 AM |
|
only 5 days in Bitcoin history where the price was higher than now.
Gold down. Bitcoin UP.
I can see more days at least twice as more. Dont use the gox price. lol, maybe we should use BTCChina. go China go! Against all odds, we are actually the only country(maybe also Russia but I am not sure) in the world where you can trade bitcoins online without subjecting yourself to the whim of the banks....for the moment.
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 14, 2013, 02:47:01 AM |
|
only 5 days in Bitcoin history where the price was higher than now.
Gold down. Bitcoin UP.
I can see more days at least twice as more. Dont use the gox price. lol, maybe we should use BTCChina. go China go! Against all odds, we are actually the only country(maybe also Russia but I am not sure) in the world where you can trade bitcoins online without subjecting yourself to the whim of the banks....for the moment. we love you guys.
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 14, 2013, 02:55:35 AM |
|
It ain't it until people/govs start dumping US treasuries.
Will it default? that's a good question. look here at the 3 mo T-Bill which is a cash-like equivalent. that's a 2000% increase in interest rate off the bottom:
|
|
|
|
oakpacific
|
|
October 14, 2013, 02:58:36 AM |
|
It ain't it until people/govs start dumping US treasuries.
Will it default? that's a good question. look here at the 3 mo T-Bill which is a cash-like equivalent. that's a 2000% increase in interest rate off the bottom: Yea, my bet is on that default will not happen this time, but Congress ain't figure it out until a few days before the deadline, enough to give people's confidence a shake.
|
|
|
|
BitcoinAshley
|
|
October 14, 2013, 03:06:32 AM |
|
It's interesting because in '11-'12 there were multiple occasions in which the "last minute deal" saved the day. But in '13 there have been two expectations of last-minute deals that didn't pan out: Sequester and "Shutdown." OTOH, they do seem to be "weaning" the market to trade on fundamentals even less than they have been. There's been some back-and-forth. For instance, months after the noteworthy not-last-minute-deal sequester, there was the classic UNtaper announcement (didn't surprise me.) So these not-last-minute-deals and this un-taper were perhaps ways to shake the market just a little bit to get it used to "things to come."
So I wouldn't be surprised if there was a "last minute deal" for the default that broke the 2013 trend of "expected last minute deal not reached." Remember the only thing that's even remotely important these days is ATHs in the stock market despite poor economic data.
|
|
|
|
oakpacific
|
|
October 14, 2013, 03:14:24 AM |
|
It's interesting because in '11-'12 there were multiple occasions in which the "last minute deal" saved the day. But in '13 there have been two expectations of last-minute deals that didn't pan out: Sequester and "Shutdown." OTOH, they do seem to be "weaning" the market to trade on fundamentals even less than they have been. There's been some back-and-forth. For instance, months after the noteworthy not-last-minute-deal sequester, there was the classic UNtaper announcement (didn't surprise me.) So these not-last-minute-deals and this un-taper were perhaps ways to shake the market just a little bit to get it used to "things to come."
So I wouldn't be surprised if there was a "last minute deal" for the default that broke the 2013 trend of "expected last minute deal not reached." Remember the only thing that's even remotely important these days is ATHs in the stock market despite poor economic data.
A US government default will wake a lot of people who would never dream of entering the stock market up from their slumbers, the whole modern world was built around the faith in the U.S.
|
|
|
|
Bitobsessed
|
|
October 14, 2013, 03:24:19 AM Last edit: October 14, 2013, 09:27:25 PM by Bitobsessed |
|
It ain't it until people/govs start dumping US treasuries.
Will it default? that's a good question. look here at the 3 mo T-Bill which is a cash-like equivalent. that's a 2000% increase in interest rate off the bottom: Yea, my bet is on that default will not happen this time, but Congress ain't figure it out until a few days before the deadline, enough to give people's confidence a shake. I think the default is inevitable because people think it cannot happen. This is going to be interesting.
|
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 14, 2013, 03:57:08 AM |
|
only 4 days in BTC history where the price closed higher than now.
Gold down. Bitcoin UP.
|
|
|
|
justusranvier
Legendary
Offline
Activity: 1400
Merit: 1013
|
|
October 14, 2013, 03:58:23 AM |
|
If you count daily highs (we haven't closed today at this level yet), seven days: April 7th-11th, April 24th, April 25th.
|
|
|
|
JakeGold
Member
Offline
Activity: 96
Merit: 10
|
|
October 14, 2013, 04:05:54 AM |
|
The way I see it, when the USD finally implodes, it will ripple across every fiat currency on the globe. Any fiat that isn't back by something other than hot air is going to become worthless.
This is probably why China and Russia are stockpiling gold, and why Germany is trying to repatriate their reserves.
And when Joe Plumber finally sees the scheme for what it is, there will be a mad rush for supplies, and somewhere to shelter their remaining wealth from the infinite inflation, but by this time there will be no gold OR silver at any of the corner store bullion traders.
Bitcoin could fill this void very conveniently, on the condition that everyone has an internet connection.
Without an online connection, bitcoins are useless, and this is the only reason I'd suggest precious metals as a hedge.
|
|
|
|
tvbcof
Legendary
Offline
Activity: 4732
Merit: 1277
|
|
October 14, 2013, 04:14:31 AM |
|
... Without an online connection, bitcoins are useless, and this is the only reason I'd suggest precious metals as a hedge.
I disagree. Any positive balance entry in the blockchain will remain there until the crypto is broken (probably never) or until someone with the private key moves it. There will be a large amount of confidence that the system will re-start if it ever halts completely at all. It is exceedingly unlikely that any event will bring us back to the stone age...at least world-wide and indefinitely. So, a representation in the blockchain is not 'useless' when it comes to long-term wealth preservation. Now I would agree that things could get so bad that free access to the global internet without significant controls could easily occur, and probably almost anywhere. And they could last for some time. For that reason I think it prudent to have a more stone-age answer to the question of where the next meal might come from. PM's seem to me to fit the bill.
|
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 14, 2013, 04:23:48 AM |
|
stone-age answer
that's a good one. just about sums it up. or down in this case.
|
|
|
|
|