Gold collapsing. Bitcoin UP.

[NewLiberty]

Its official:
http://www.kitco.com/finance/bitcoin/#

holy shit wow!

I don't want to jizz in my pants already, but what is this kitco? I'm not an american, obviously. Anyone care to explain?

i think it might be a canadian site, but its a gold selling site that hold one of the best and largest gold forums. also most of the charts people use to quote gold on the internet come from kitco. pretty sure it would be in the top 1000 sites.


the old kitco forum was legendary.

Edit: Kitco is the 940th most visited site in the USA.

Interesting that there wasn't much comment about it.  It just appeared with a little "New" marker on their site.
Bitcoin is becoming normal.

My metric for mainstream acceptance of Bitcoin was seeing it on one of the mainstream media ticker scrolls, like Bloomberg, along side their gold and silver price that they flash about once every two minutes.

This is a big step closer to that.

[tvbcof]

Its official:
http://www.kitco.com/finance/bitcoin/#

holy shit wow!

I don't want to jizz in my pants already, but what is this kitco? I'm not an american, obviously. Anyone care to explain?

i think it might be a canadian site, but its a gold selling site that hold one of the best and largest gold forums. also most of the charts people use to quote gold on the internet come from kitco. pretty sure it would be in the top 1000 sites.

the old kitco forum was legendary.

Edit: Kitco is the 940th most visited site in the USA.

I never got into Kitco's forum.  (Believe it or not, I've never really participated in anything but bitcointalk.org since the usenet days.)  But Kitco has been the go-to for PM spot prices for a long time.  If 940-th counts the number of spot price widgets that people use on their own site, I have no trouble believing it.  Else I would find it surprising.

Bitcoin being treated as a near-peer to PM's and other financial data at Kitco is indeed huge.

[NewLiberty]

It hasn't made it to their language-neutral API toolset yet.
http://www.kitconet.com/exchangerates.html

For them this is beta testing.  They are looking for comments, maybe assistance. 
http://www.kitco.com/finance/bitcoin/

It looks like they added Kraken exchange today.

[molecular]

It hasn't made it to their language-neutral API toolset yet.
http://www.kitconet.com/exchangerates.html

For them this is beta testing.  They are looking for comments, maybe assistance.  
http://www.kitco.com/finance/bitcoin/

It looks like they added Kraken exchange today.

They're using volume-weighted average over a couple of exchanges (the big USD-based ones it seems).

It's the right way to go, but maybe including "foreign" currency based exchanges like the ones in China, Europe, etc. would make sense. But maybe not. It is what it is, I guess. I like that they are very transparent about it.


EDIT: just saw the other currencies / exchanges.

[marcus_of_augustus]

ah, the original kitco vortex, i remember it well ... did anybody figure out who "another" was?

.... was wild for it's day, now a lot of that knowledge is common place

[dani]

jizzed in my pants.

thanks everybody 

[bracek]

James Turk got some

www.youtube.com/watch?v=LStqjpnM-5c&t=19m39s

and clearly differentiates between tangible and corporeal

[Grafzep]

ah, the original kitco vortex, i remember it well ... did anybody figure out who "another" was?

.... was wild for it's day, now a lot of that knowledge is common place

Indeed, his eye-opening suggestions for the whole gold / oil / dollar / world events was pretty wild, and fodder for a whole set of previously isolated non-conformists. It's easy to forget how much voice and community the internet has shared out.

After kitco came up in this thread recently, I had a quick look and found this partial archive:

http://bgmi.us/web/kitco/Kitco1990s.php

I had a short wander through it, but it was like picking over a misty battlefield during the following dawn. Too many cackling ghosts. I stopped when I was surprised by one of my own (insignificant and peripheral) posts.

James Turk got some

www.youtube.com/watch?v=LStqjpnM-5c&t=19m39s

and clearly differentiates between tangible and corporeal

Funnily enough, James Turk has been suggested as ANOTHER (always capitalised by convention ) though I'd always assumed him to be older and middle-eastern. Some sunglass-wearing OPEC advisor perhaps, disillusioned by the 70s, coughing up a final confession.

.... was wild for it's day, now a lot of that knowledge is common place

Yes that forum opened my eyes a fair bit and doubt i would be involved in btc today if not for it.

I was just going to add +me, but then it struck me that possibly none of us would be here, for surely btc itself is rooted in the collision between gold and the internet? Would it have existed without the coming together (at kitco, but also the e-gold and beenz experiments) of old, experienced men of the world like ANOTHER prepared to share their worldview and bright young anarcho tech heads prepared to do something about it?

You could think, in fact, that Satoshi was influenced by ANOTHER: careful anonymity (even with probably cultural misdirection), planting influential ideas, then disappearing. Perhaps both graduates of the same spook school?

[molecular]

James Turk got some

www.youtube.com/watch?v=LStqjpnM-5c&t=19m39s

and clearly differentiates between tangible and corporeal

WOW!

fuck me! This took some time, but if Turk is coming around and admitting to owning bitcoin, I cannot help but get this exciting feeling that Bitcoin is going to overdeliver on most of the wildest expectation in terms of adoption and price - yet again - this year.

Let's hope we can extend a bit on some of the core features, like possible anonymity, and make these easier to use (or "default"), too, and also find good solutions for technical issues like scalability.

[bit.craft]

Above $900 on MtGox.

Time for the long-term bulls parade, again.

[molecular]

Trace is high on bitcoin

https://www.youtube.com/watch?v=0dNawEe8M1Y

good interview with visionvictory

[tvbcof]

Funnily enough, James Turk has been suggested as ANOTHER (always capitalised by convention ) though I'd always assumed him to be older and middle-eastern. Some sunglass-wearing OPEC advisor perhaps, disillusioned by the 70s, coughing up a final confession.

I imagined ANOTHER as some similarly aged/experienced and disillusioned old money scion.  I actually prefer your vision as I think about it and remember back to the time when I did a lightning parse through his and FOA's work.  Or a complete fraud.

I never would have expected Turk.  I've always considered him something of a clod intellectually.  Or more accurately, with respect to his ability to think in an orthogonal manner and separate himself from his own interests.

[wachtwoord]

Above $900 on MtGox.

Time for the long-term bulls parade, again.

Rage against the machine - bulls on parade lyrics

[Adrian-x]

Trace is high on bitcoin

https://www.youtube.com/watch?v=0dNawEe8M1Y

good interview with visionvictory

Wow that was all bull I think cypherdoc got a mention.

[Grafzep]

Funnily enough, James Turk has been suggested as ANOTHER (always capitalised by convention ) though I'd always assumed him to be older and middle-eastern. Some sunglass-wearing OPEC advisor perhaps, disillusioned by the 70s, coughing up a final confession.

I imagined ANOTHER as some similarly aged/experienced and disillusioned old money scion.  I actually prefer your vision as I think about it and remember back to the time when I did a lightning parse through his and FOA's work.  Or a complete fraud.

I never would have expected Turk.  I've always considered him something of a clod intellectually.  Or more accurately, with respect to his ability to think in an orthogonal manner and separate himself from his own interests.

You're right, of course, ANOTHER (and FOA) was far more elegant and many-dimensioned. I think Turk was only considered because he spent the 80s in the Gulf.

[marcus_of_augustus]

Trace is high on bitcoin

https://www.youtube.com/watch?v=0dNawEe8M1Y

good interview with visionvictory

So if Roger Ver is "Bitcoin Jesus" ....  Trace Meyer is "Bitcoin Buffet" now?

[marcus_of_augustus]

Good one here for idealists, tech/future/trend watchers ...

http://letstalkbitcoin.com/e72-powerful-perspectives/

[marcus_of_augustus]

Ever since President Nixon broke the US dollar's last link to gold, the world has been set adrift on a sea of fiat currencies that have been increasingly debased, serving the interests of governments and financial elites. For the last five years, central banks have imposed near-zero rates of interest that have helped push up stock, bond, and real estate prices, but have made it nearly impossible for savers to receive meaningful returns on bank deposits.

To make matters worse, the apparatus of national security has turned financial transactions into a massive exercise in government surveillance. Under the camouflage of 'protective' measures, such as the USA PATRIOT Act, governments have invaded the privacy of citizens and compromised banking secrecy in an unprecedented and often unconstitutional manner. Despite huge potential transaction-cost reductions achievable through advances in digital technology, banks continue to charge exorbitant transaction fees while maintaining transfer delays that reflect a pre-digital age. In addition, bank regulators, led by the IMF, have shown a willingness, in the case of Cyprus, to make depositors liable for poor banking decisions. Many private citizens may naturally see the status quo as a deliberate policy to crush middle-class savers and pave the way for centralized socialism. Some have sought a way out.

Gold 2.0?

Traditionally, investors have turned to precious metals such as gold to help protect and privately transfer their wealth. However, ever-increasing regulation, monitoring, and physical searches have eroded some of the key protections afforded by gold. Gold's weakness over the past 24 months has also spooked many former adherents. In such an environment, many have seen the recent arrival of digital crypto-currencies as the means to restore the monetary independence that has been co-opted by big governments. Currencies like the now-famous Bitcoin offer the potential for a store of value, low transaction costs, free movement, and anonymity. It's no wonder that Bitcoin has taken the world by storm. But all that glitters is not gold.

http://www.zerohedge.com/news/2014-01-03/bitcoin-versus-gold

[tvbcof]

Gold 2.0?

Traditionally, investors have turned to precious metals such as gold to help protect and privately transfer their wealth. However, ever-increasing regulation, monitoring, and physical searches have eroded some of the key protections afforded by gold. Gold's weakness over the past 24 months has also spooked many former adherents. In such an environment, many have seen the recent arrival of digital crypto-currencies as the means to restore the monetary independence that has been co-opted by big governments. Currencies like the now-famous Bitcoin offer the potential for a store of value, low transaction costs, free movement, and anonymity. It's no wonder that Bitcoin has taken the world by storm. But all that glitters is not gold.

http://www.zerohedge.com/news/2014-01-03/bitcoin-versus-gold

One of the things which hit me hard and very early was that I could wash ashore naked in Bumfuck Egypt and obtain access to the wealth I had stored in that medium.  With a little planning at least.  This is wholly unlike the kinds of hassles I'd have with PM's in times of crisis, and if one is a phyzzz freak (like yours truly) it is even somewhat cumbersome in these 'good times.'.

Recognizing these virtues and others, I never would have believed that we got down to $2 in the 2011 trough.  But so it was, and that is why I continued to buy and took a much bigger position than I anticipated when I started (somewhere around $16.)  I felt then as I feel now;  Bitcoin/gold 'parity' is much closer to 1BTC/kg than 1BTC/oz just on the transmission utility alone.  Probably even higher.

[Melbustus]

Ever since President Nixon broke the US dollar's last link to gold, the world has been set adrift on a sea of fiat currencies that have been increasingly debased, serving the interests of governments and financial elites. For the last five years, central banks have imposed near-zero rates of interest that have helped push up stock, bond, and real estate prices, but have made it nearly impossible for savers to receive meaningful returns on bank deposits.

To make matters worse, the apparatus of national security has turned financial transactions into a massive exercise in government surveillance. Under the camouflage of 'protective' measures, such as the USA PATRIOT Act, governments have invaded the privacy of citizens and compromised banking secrecy in an unprecedented and often unconstitutional manner. Despite huge potential transaction-cost reductions achievable through advances in digital technology, banks continue to charge exorbitant transaction fees while maintaining transfer delays that reflect a pre-digital age. In addition, bank regulators, led by the IMF, have shown a willingness, in the case of Cyprus, to make depositors liable for poor banking decisions. Many private citizens may naturally see the status quo as a deliberate policy to crush middle-class savers and pave the way for centralized socialism. Some have sought a way out.

Gold 2.0?

Traditionally, investors have turned to precious metals such as gold to help protect and privately transfer their wealth. However, ever-increasing regulation, monitoring, and physical searches have eroded some of the key protections afforded by gold. Gold's weakness over the past 24 months has also spooked many former adherents. In such an environment, many have seen the recent arrival of digital crypto-currencies as the means to restore the monetary independence that has been co-opted by big governments. Currencies like the now-famous Bitcoin offer the potential for a store of value, low transaction costs, free movement, and anonymity. It's no wonder that Bitcoin has taken the world by storm. But all that glitters is not gold.

http://www.zerohedge.com/news/2014-01-03/bitcoin-versus-gold

It's worth noting that that article came from Euro Pacific Capital; Peter Schiff's firm. Furthermore, the author, John Browne, is listed as their senior economic consultant. While he ends the piece saying he'll stick with gold, it's remarkably positive coming from EPC, and also from an older gold-bug. More people really are being assimilated.

Resistance is futile.