Gold collapsing. Bitcoin UP.

[adamstgBit]

I'm early Gen-Y

how fucked am I?

[impulse]

I'm early Gen-Y

how fucked am I?

Don't worry Adam, you have bitcoin! Er, I think you have bitcoin, you didn't trade them all in for feathercoin I hope.

[cypherdoc]

it's catching on:

http://www.wired.com/wiredenterprise/2013/10/bitcoin-in-japan/

even more than it has.

[Peter Lambert]

Handing off the baton? Yeah right.

The baby boomer generation is set on sucking every penny through their unsustainable pensions and the current situation with social security.

As my university professors warned us, our generation will be left holding an empty bag.

The pensions are unsustainable and will NOT continue for Gen X.


Gen X, it is wisest if you see the debacle you have been placed in. Tuition has risen to record levels, and in most cases graduates will be 30 years old until their student loans are paid off. Don't rely on pensions, social security, or any of that other nonsense.

Lol@ having student loans paid off by the age of 30.  Try 45.

+1: If you do some postgraduate studies you might still be in school until you are 28 and then you can defer payments while you are unemployed looking for a job, and then there is income-based payments, so If you have a couple kids you can make the national average income and be assessed a minimum payment of $0. What is this repaying student loans you are talking about?

[Zangelbert Bingledack]

it's catching on:

http://www.wired.com/wiredenterprise/2013/10/bitcoin-in-japan/

even more than it has.

Nice article for goldbugs to read. Tokyo meetup is getting good-sized, but these are mostly non-Japanese people, and Osaka meetup is in low single-digits, very nascent, with like 1-2 Japanese. Give it a few weeks and some otaku will make their own group, thanks to Gigazine's very helpful and well-read posts.

[conspirosphere.tk]

today btc collapsing, gold UP.
Maybe it's the start of an inversion(?)

[tvbcof]

today btc collapsing, gold UP.
Maybe it's the start of an inversion(?)

Well, will you look at that!

Actually, gold at this level with the USDX below 80 is pretty pathetic.  A year ago I would not and did not expect that such poor performance would have been very likely.  Thankfully I'm not a trader.  My career in that field would be brutal and short.

[miscreanity]

Gold's transition should eventually result in extensive industrial uses, as well as medical. I seriously doubt it will ever be worth nothing.

[AndrewWilliams]

Handing off the baton? Yeah right.

The baby boomer generation is set on sucking every penny through their unsustainable pensions and the current situation with social security.

As my university professors warned us, our generation will be left holding an empty bag.

The pensions are unsustainable and will NOT continue for Gen X.


Gen X, it is wisest if you see the debacle you have been placed in. Tuition has risen to record levels, and in most cases graduates will be 30 years old until their student loans are paid off. Don't rely on pensions, social security, or any of that other nonsense.

Lol@ having student loans paid off by the age of 30.  Try 45.

+1: If you do some postgraduate studies you might still be in school until you are 28 and then you can defer payments while you are unemployed looking for a job, and then there is income-based payments, so If you have a couple kids you can make the national average income and be assessed a minimum payment of $0. What is this repaying student loans you are talking about?

The average person has to pay off their students loan, one way or another.

It helps your credit score, anyways.

[AndrewWilliams]

I'm early Gen-Y

how fucked am I?

Pretty fucked.


You will be paying student loans for at least 10-15 years following graduation.

While in school you will be forced to work two jobs for minimum wage if you are lucky in order to support yourself and have food to eat.

If you are unlucky you will get an unpaid internship. If you are very unlucky, the unpaid internship will turn into a minimum wage job once you graduate.

(Unpaid internships, welcome to modern times answer to slavery!)



After several years of making almost nothing at the job you spent $100,000 of dollars for the degree that was required to get it, you will ask yourself: why am I working for these pricks? Start your own business

[cypherdoc]

Gold's transition should eventually result in extensive industrial uses, as well as medical. I seriously doubt it will ever be worth nothing.

Wow, that's quite a change in tone.

[Peter Lambert]

Gold's transition should eventually result in extensive industrial uses, as well as medical. I seriously doubt it will ever be worth nothing.

There is a lot of room between "reserve currency of the world" and "fills a few industrial niches". Gold could be going down for a long time.

[conspirosphere.tk]

Gold could be going down for a long time.

not until china and others keep buying phyzz like there is no tomorrow (they must know something that western sheeples don't)

[manfred]

Well now they have the space to store the Gold too.
http://www.zerohedge.com/news/2013-10-18/chinas-largest-conglomerate-buys-building-houses-jpmorgans-gold-vault
New must have book "Mandarin for Dummies", or optional to as I get a Chinese girl friend.

[cypherdoc]

Well now they have the space to store the Gold too.
http://www.zerohedge.com/news/2013-10-18/chinas-largest-conglomerate-buys-building-houses-jpmorgans-gold-vault
New must have book "Mandarin for Dummies", or optional to as I get a Chinese girl friend.

no, no, no.

that space has been reserved for mining.  digital mining.

[sidhujag]

too many weak bag holders were riding gold.. gold is a bigtime bull china india see whats gonna happen west just hiding it by manipulating price.

When small sheep are out via stoploss then the trend will hange . Great example is to look on this forum and read how many ppl are turning bearish on gold.. that makes me more bullish.. we all know all the traders here combined wouldnt sustain a $5 rise or drop in price.

[molecular]

BTC mentioned at around 21:40
https://www.youtube.com/watch?v=-0G4rIXkEXk#t=21m40s

That woman Karen Hudes, while I have much respect for her, scares the shit out of me with that "rule of law" talk.

[molecular]

The exante BitcoinFund prediction is 500. They have a pod of whales swimming in their pond.

Meh, Bitcoin's market cap is currently $2.5B. That is a lot but nothing compared to many $Tillions of gold reserves held.

A Bitcoin price of 500 still only brings the market cap to around $6B, it Bitcoin takes off as a viable reserve asset that is nothing and we still have a way to go.

The reason price targets make no sense is Bitcoin is either going to the moon, or crashing to zero as a failed experiment. I don't see a middle ground. That is the entire premise of this thread IMHO, that BTC will become a reserve asset and in the process go up A LOT. Why trade that asset? Just hold.

+1.  It's always nice to see when someone 'gets it'  (said with an air of presumption which does not escape me...)

Years ago, and probably on this thread, I predicted that the main problem would be to figure out how to capitalize.  How much, when, how (in light of regulatory interference, etc) and that sort of thing.  And as I had hoped, that is the set of problems I'm facing now.

Buy assets when blood is on the streets?

[tvbcof]

Buy assets when blood is on the streets?

Like BTC in late 2011.  Hehe.

[molecular]

The exante BitcoinFund prediction is 500. They have a pod of whales swimming in their pond.

Meh, Bitcoin's market cap is currently $2.5B. That is a lot but nothing compared to many $Tillions of gold reserves held.

A Bitcoin price of 500 still only brings the market cap to around $6B, it Bitcoin takes off as a viable reserve asset that is nothing and we still have a way to go.

The reason price targets make no sense is Bitcoin is either going to the moon, or crashing to zero as a failed experiment. I don't see a middle ground. That is the entire premise of this thread IMHO, that BTC will become a reserve asset and in the process go up A LOT. Why trade that asset? Just hold.

+1.  It's always nice to see when someone 'gets it'  (said with an air of presumption which does not escape me...)

Years ago, and probably on this thread, I predicted that the main problem would be to figure out how to capitalize.  How much, when, how (in light of regulatory interference, etc) and that sort of thing.  And as I had hoped, that is the set of problems I'm facing now.

this is what i continue to call Bitcoin's Tension.

ppl are so focused on the problems of today.  especially the illiquidity and difficulties in "capitalizing". and they are right about that; today.  but anyone here, if they have been paying attention to what i've been saying, understands that if Bitcoin makes it thru the gauntlet (window of illiquidity and nonacceptance) all these problems will melt away.  

all of a sudden you will find yourself in control of a pile of BTC worth thousands and all sorts of means to capitalize if you wish (cash out).

it's going to happen.

I agree.

People who say bitcoin has a 10% chance of success haven't thought things through yet.

The funny thing is: not only "heavyweights" like many people here will be wealthy... one can only recommend to people to get their hands on at least 2100 bits and thereby catapult themselves into the top 10 million wealthiest people by simply holding on to these 2.1 BTC.