Gold collapsing. Bitcoin UP.

[Erdogan]

Gold is mostly money, and the value is determined by supply and demand for having money in reserve.

The cost of mining follows the gold price with a delay of about 10 years.

[1714132085]

1714132085

[1714132085]

1714132085

[1714132085]

1714132085

[1714132085]

1714132085

[1714132085]

1714132085

[1714132085]

1714132085

[miscreanity]

Bullion banks have effectively gone long. This suggests a total shift is nigh.

The problem is that there must be muppets of sufficient size to fleece in order to recover the underlying assets, in this case gold & silver. The targets that make sense include managed money -- retirement funds, pensions,value

What's wrong with this is that managed money holds the same thing as the banks: paper derivative promises. This is a major reason for banks looking to sell their hot potato commodity businesses, which they've effectively run into the ground by extracting all the value.

With physical metal so heavily concentrated, it's a matter of time until populations realize the disparity. Since a potent alternative exists and is much more applicable to our increasingly abstract infrastructure, transition is all but guaranteed. Transparency (honesty) is one of the greatest draws -- required for comprehensibility.

Obviously this will not happen overnight. I think it will be at least two more years before that trend gains enough traction to become noticeable.

[rpietila]

Out of all your uninformed posts, I will now shine in part a light on this one:

To start with, in 2000, the cost of production was a LOT lower than today as well. This article here shows the only chart on the cost of gold mining I could find. It says the "cash cost" of mining gold has risen from approximately $130 in 2000 to $727 in 2012,


it's not my job to make you understand better.

You have demonstrated again and again over your last posts that you are very uninformed about the topic of gold. You might have already bought it 20 years ago, but you certainly didn't learn a lot about it in those 20 years. After reading uninformed post over post from you about gold, I finally couldn't take it anymore, hence this post of mine... maybe somebody else can learn something from it.

Wow, you sure schooled me User705 pretty much explained very clearly and logically why your only argument above is wrong. Everything else you said was more or less you expressing that you think I am ignorant. That did not exactly support your claim well. 

Your answer, while not completely wrong, is mostly beside the point here, and I really can't be arsed to explain in detail why. Another poster clarified with a spot-on answer.

Rant over, calming down slowly... calming down... lol!

I don't think you know what ELI5 means. I think you failed to understand the question. He did not ask for "in detail". I explained the why, not the how.

The comments about gold mining costs being higher as a price support floor is invalid.  First the only reason it's higher is because the higher market price led miners to invest in low margin mines.

Can you give me a source for that?

It doesn't sound very logical to me

No one is shocked here that you can't understand this basic concept. If you were half as smart as you thought you were, you would be a god. If you were twice as smart as you really are you might be able to understand basic questions and concepts.

but for some reason (authority on BTC? fancy nickname? mighty post count?) out of all the people, a gold-newbie asks you for advice. Well, if he could hold apart the people who know from the people who don't know, he probably wouldn't have to ask in the first place, right? It's understandable.

Right.   

At first I was wondering if you were a troll but I really think you are just an ignorant kid who thinks he is hot shit cuz he read 4! not 3 but 4! whole Wikipedia articles from start to finish!!1!!111!. You are going to have a hard life kid unless you find a better path. Your 2/3 of an ox of gold and your l33t skills wont take you to wall street.

Wow, you sure gave him a-beating, didn't you? 

[smoothie]

Ha, you need to lurk more    I have been investing in gold since 1992.

Wow, that's a long-ass time - it might explain your frustrations with gold. Understandable.

Nevertheless, what you first suspected with me might be the case with you - you sound pretty uninformed on gold!

Anyways, let's let that discussion be now. Hopefully both assets will go through the roof...

Now you are being mildly insulting. I invested significantly in 2002 to 2004. I then sold out near the highs in 2010/2011 to get into BTC.

I am not at all frustrated with gold and one of the few here on this form who would even tell you it is worth holding at all.

You realize gold is manipulated, you just do not understand how much. You assume incorrectly that the manipulators will fail at their game soon. You fail to understand this game has been going on for 500 years. They know what they are doing and the fact that you think you know better than them is just laughable. You might get lucky a couple of times on calls but with arrogance like this in the market you will get destroyed in the end.

Proof please of said bolded claims?

Anyone can look at a chart and make a claim like this and have no proof.

Don Harold on Youtube likes to do this. And it makes me laugh.

Lesson: Just because someone says something it doesn't make it true.

[smoothie]

Who knows where we are going in gold and silver (non-paper price markets)?

We could be bottoming at ~$20 in silver and ~$1200 in gold but we could go lower. Markets are irrational.

I'm buying a bit here and there just to get a handle on my semi-numismatic silver play.

[smoothie]

JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever
http://www.zerohedge.com/news/2014-01-24/jpmorgans-gold-vault-has-biggest-one-day-withdrawal-ever  

I made my first purchase of gold and silver recently. With crypto earnings, lol. Got a good price just before it went up a bit. My question to you all is how likely do you think it is that gold will go to 1000 or 800? I want to pickup some more but at cheap prices...

If you listen to corrupt bankers it will go down. If you listen to them you should thus not have bought gold in th first place. I think you will be lucky to find anyone in this thread who agrees with them.

Nobody in the thread "Gold Collapsing. Bitcoin UP" thinks gold will go down, huh?  Cyperdoc might have something to say about that.

Ok, get the point. But I don't see how gold price (price of actual physical gold) can go much down now. Even FT is onto it, can it get much more mainstream now?:

http://www.zerohedge.com/news/2014-01-25/ft-goes-there-demand-physical-gold-one-day-paper-price-manipulation-will-end-catastr

The price of actual physical gold likely will not fall after a certain point. People will look at the paper price and say "nah i'm not selling at these prices". Then the supply available at those paper prices dries up.

[smoothie]

Proof please of said bolded claims?

Anyone can look at a chart and make a claim like this and have no proof.

Don Harold on Youtube likes to do this. And it makes me laugh.

Lesson: Just because someone says something it doesn't make it true.

I could care less what smoothie the troll claims. Go ahead don't believe me, I don't care.  

As suspected: talk is cheap.  

[smoothie]

Proof please of said bolded claims?

Anyone can look at a chart and make a claim like this and have no proof.

Don Harold on Youtube likes to do this. And it makes me laugh.

Lesson: Just because someone says something it doesn't make it true.

I could care less what smoothie the troll claims. Go ahead don't believe me, I don't care.  

As suspected: talk is cheap.  

  BRB, going to upload 10 years of tax returns... You should be smart enough to know that what you demanded was not realistic. However I'm sure in your own mind you proved to the world that I am a fraud. Keep trolling, by accident one day you might do something clever.

Talk is cheap indeed.

I invested significantly in 2002 to 2004. I then sold out near the highs in 2010/2011 to get into BTC.

Thanks for proving my point.  Perhaps you shouldn't make claims you can't prove. Then get called out, then you call the person calling you out a "troll".  

Your little so-called insults are really child's play stuff. Sticks and stones man lol.

Glad to see you went from 2nd grade to 3rd grade in your thinking as far as how you respond.

We agree on one point. Talk is cheap. Thanks again...

[smoothie]

Perhaps you shouldn't make claims you can't prove.

Or what? You will troll me?  

You are back on ignore... Not sure why I took you off.

Or someone may call you on it (which to you is "trolling"). And then you have to side step to avoid where your claims are baseless, just like you are doing now.

Thanks...make it glow darker orange.  

[Holliday]

Thanks...make it glow darker orange. 

I could be wrong, but I think the glow has been disabled because it was bringing the forum to a crawl.

[smoothie]

Thanks...make it glow darker orange. 

I could be wrong, but I think the glow has been disabled because it was bringing the forum to a crawl.

Or perhaps it turned to GOLD color?

[Holliday]

Thanks...make it glow darker orange. 

I could be wrong, but I think the glow has been disabled because it was bringing the forum to a crawl.

Or perhaps it turned to GOLD color?

https://bitcointalk.org/index.php?topic=68329.msg4295782#msg4295782

[ampere9765]

i was thinking of on the next leg up of diversifying into gold to some extent. is that a good/bad idea? just maybe like 10% or so of my bitcoin position.

[ampere9765]

i was thinking of on the next leg up of diversifying into gold to some extent. is that a good/bad idea? just maybe like 10% or so of my bitcoin position.

Well, I personally think you should and I have done it myself. 5% to 10% in gold/silver just seems smart no matter what in my book. Esp in the world we live today with the central banks printing like crazy. However I'm also 85% crypto, I think we have a long way to go up here. 

we seem to be on the same page then. cheers.

[thezerg]

The truth is that anyone can say anything here and its unverifiable.  This is why I tend to say nothing about my personal investment decisions.   However, in this case the Goat is not trying to sell us anything.  What's his purpose for lying?  Photoshops of somebody else's Lambo is a LOT more time consuming than point & click.

So I tend to take him at his word, but at the same time don't really care.  People who think net worth is like a score on a video game and this forum is the leaderboard are deluded and I feel sorry for them.  

At some point your quality of life and the ability to push your interests across the local, regional or world stage are what's important.  Who do you pick?  The pre-marriage Bill Gates who spent all his time accumulating billions through a software monopoly (let's ignore his later philanthropy), or Elon Musk who left Paypal and is now building electric cars, rocket ships and is proposing to revolutionize city-to-city public transport?

 

[cypherdoc]

Proof please of said bolded claims?

Anyone can look at a chart and make a claim like this and have no proof.

Don Harold on Youtube likes to do this. And it makes me laugh.

Lesson: Just because someone says something it doesn't make it true.

I could care less what smoothie the troll claims. Go ahead don't believe me, I don't care.  

As suspected: talk is cheap.  

  BRB, going to upload 10 years of tax returns... You should be smart enough to know that what you demanded was not realistic. However I'm sure in your own mind you proved to the world that I am a fraud. Keep trolling, by accident one day you might do something clever.

Talk is cheap indeed.

Smoothie does have a point.

I mean, you were nowhere to be found in my Gold I Smell A Trap  thread of 2011 even though you were active as Goat.

Just saying.

[smoothie]

Proof please of said bolded claims?

Anyone can look at a chart and make a claim like this and have no proof.

Don Harold on Youtube likes to do this. And it makes me laugh.

Lesson: Just because someone says something it doesn't make it true.

I could care less what smoothie the troll claims. Go ahead don't believe me, I don't care.  

As suspected: talk is cheap.  

  BRB, going to upload 10 years of tax returns... You should be smart enough to know that what you demanded was not realistic. However I'm sure in your own mind you proved to the world that I am a fraud. Keep trolling, by accident one day you might do something clever.

Talk is cheap indeed.

Smoothie does have a point.

I mean, you were nowhere to be found in my Gold I Smell A Trap  thread of 2011 even though you were active as Goat.

+1...and I'm the "troll". 

[smoothie]

i was thinking of on the next leg up of diversifying into gold to some extent. is that a good/bad idea? just maybe like 10% or so of my bitcoin position.

Slowly accumulating over time is never a bad idea in my view.

[smoothie]

The truth is that anyone can say anything here and its unverifiable.  This is why I tend to say nothing about my personal investment decisions.   However, in this case the Goat is not trying to sell us anything.  What's his purpose for lying?  Photoshops of somebody else's Lambo is a LOT more time consuming than point & click.

So I tend to take him at his word, but at the same time don't really care.  People who think net worth is like a score on a video game and this forum is the leaderboard are deluded and I feel sorry for them.  

At some point your quality of life and the ability to push your interests across the local, regional or world stage are what's important.  Who do you pick?  The pre-marriage Bill Gates who spent all his time accumulating billions through a software monopoly (let's ignore his later philanthropy), or Elon Musk who left Paypal and is now building electric cars, rocket ships and is proposing to revolutionize city-to-city public transport?

 

Untrue. If you keep enough good records you could likely prove it.

But goat made such a long term claim that anyone could do by simply pulling up the longer term chart of gold then say "I bought on X year and sold on Y year.".

My point was that maybe instead of claiming when he bought and sold he just claimed to be accumulating that way it removes the need to be called out. I'm one of those people that like to do that on this forum from day 1. Goat just can't take it when he is unable to back up his claims and reverts to insults like a 3rd grader to remove attention from his short comings.

As said before talk is cheap.

Cypher on the other hand has much more credibility here given his predictions and calls in this thread and in his subscription service prove he has a track record of making good calls. Even he was man enough to admit that he bought bitcoins from proceeds of PM sales at ~$20 a bitcoin in 2011 (Cypher did I get that right?).

He has a track record on this forum as well. Goat no so much to prove those claims in any meaningful manner.

[smoothie]

I mean, you were nowhere to be found in my Gold I Smell A Trap  thread of 2011 even though you were active as Goat.

That would not prove anything either way. I was aware of that thread and read some of it, but I was obsessed with BTC at the time.

I did not even post in this thread until I started buying gold/silver again. Why would I read or post in a thread about something I had no interest?

This is a BTC forum after all. You should really be looking at my post history on the kitco forum and it would be pretty clear what my thoughts where and what I was doing.

And anyway, the way to prove this would be to show you my tax returns and APMEX history, something that will not be happening.

But really, if you guys think I'm just bullshiting then fine, ignore what I say. I have nothing to gain by it. I really do not care what you think about me.

You mad bro?