Gold collapsing. Bitcoin UP.

[wachtwoord]

we are now down 40 cents for the last 30 days! panic!

Goat

you're better off selling your gold and silver now and switching to Bitcoin.

I think Goat is in what's also known as a "win-win situation"

what you really mean is that just b/c he said this...:

Sure gold could lose 70% of it's value before then, but fiat is dead....
 

...he can claim he was right no matter what happens. 

par for his course.

Nah, I say it because he holds more gold than my net worth, more land than my net worth, more silver than my net wort, more Bitcoin than my net worth and likely more Litecoin than my net worth.

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[cypherdoc]

we are now down 40 cents for the last 30 days! panic!

Goat

you're better off selling your gold and silver now and switching to Bitcoin.

I think Goat is in what's also known as a "win-win situation"

what you really mean is that just b/c he said this...:

Sure gold could lose 70% of it's value before then, but fiat is dead....
 

...he can claim he was right no matter what happens. 

par for his course.

Nah, I say it because he holds more gold than my net worth, more land than my net worth, more silver than my net wort, more Bitcoin than my net worth and likely more Litecoin than my net worth.

probably, but you never know.

he does have a Lambo!

[wachtwoord]

Yes he also holds more Lambo's than me.

[sgbett]

Yes he also holds more Lambo's than me.

Have no fear, you are not alone

[wachtwoord]

Yes he also holds more Lambo's than me.

Have no fear, you are not alone

Good, I was starting to feel poor

[cypherdoc]

Boom!

[cypherdoc]

[thezerg]

Yes he also holds more Lambo's than me.

I notice that you didn't say "more Lambo than my net worth" so you must not be doing too badly 

[bitcoinsrus]

Yes he also holds more Lambo's than me.

I notice that you didn't say "more Lambo than my net worth" so you must not be doing too badly  

Check out my lambo....1/10th the price and the manufacturer said its made somewhere in Taiwan so I guess its imported  

[leopard2]

Nah gold is just fine.  

Gold: mined with massive mechanical and chemical effort from the ground, by real people doing real work. Total supply on planet limited.

BTC: mined with epic difficulty increase, needs knowhow and special technology. A bit virtual but still needs real people and real computational work.

USD: idiot with tie around his neck sits at an old Federal Reserve 486 monochrome computer terminal, types 45 then types 000 000 000 then hits SEND button -> monthly QE government bond purchase amount has been created. Cost? Maybe 10 cents in materials and 10$ in time

Any questions what's collapsing here?  

[ranlo]

Yes he also holds more Lambo's than me.

I notice that you didn't say "more Lambo than my net worth" so you must not be doing too badly 

Check out my lambo....1/10th the price and the manufacturer said its made somewhere in Taiwan so I guess its imported 

I love your lego lambo! I want one too. I'll love you forever if you buy me one, .

[leopard2]

It is that easy.

http://www.dnaindia.com/mumbai/report-500-kg-of-gold-smuggled-into-india-every-day-1929753

Yep. I pointed that out when some people here were truly believing that BTC is outlawed in India. They can't even properly outlaw gold, which needs physical shipment! If Indians want to buy BTC they will do so, period.

[El Cabron]

we are now down 40 cents for the last 30 days! panic!

Goat

you're better off selling your gold and silver now and switching to Bitcoin.

I think Goat is in what's also known as a "win-win situation"

what you really mean is that just b/c he said this...:

Sure gold could lose 70% of it's value before then, but fiat is dead....
 

...he can claim he was right no matter what happens. 

par for his course.

Nah, I say it because he holds more gold than my net worth, more land than my net worth, more silver than my net wort, more Bitcoin than my net worth and likely more Litecoin than my net worth.

probably, but you never know.

he does have a Lambo!

I have more LTC than gold, silver and every other metal combined. I'm about 85% crypto and very bullish on it.

My point was gold is not exactly collapsing but if that is just troll bait then I failed hardcore, lol. But it is in the title of the thread and he does say that it is collapsing about every other day so it is a pretty effective troll. Gold is not going to die soon, BTC however just might get forked or have a bug and die off any second. Gold is something I hope ever have to sell or use but it is mostly like insurance. No way I'm going with out beer money!

[dree12]

we are now down 40 cents for the last 30 days! panic!

Goat

you're better off selling your gold and silver now and switching to Bitcoin.

I think Goat is in what's also known as a "win-win situation"

what you really mean is that just b/c he said this...:

Sure gold could lose 70% of it's value before then, but fiat is dead....
 

...he can claim he was right no matter what happens. 

par for his course.

Nah, I say it because he holds more gold than my net worth, more land than my net worth, more silver than my net wort, more Bitcoin than my net worth and likely more Litecoin than my net worth.

probably, but you never know.

he does have a Lambo!

I have more LTC than gold, silver and every other metal combined. I'm about 85% crypto and very bullish on it.

My point was gold is not exactly collapsing but if that is just troll bait then I failed hardcore, lol. But it is in the title of the thread and he does say that it is collapsing about every other day so it is a pretty effective troll. Gold is not going to die soon, BTC however just might get forked or have a bug and die off any second. Gold is something I hope ever have to sell or use but it is mostly like insurance. No way I'm going with out beer money!

Artificial diamonds are practically cheaper and better than the real deal now. How long until artificial gold?

Even if that will take a while, there are hypotheses that moons and planets in our solar system may contain gold. How long until those are extracted?

[thezerg]

There really is no comparison between creating diamonds and creating gold.  The former is perfecting a chemical process the latter is nuclear.

[El Cabron]

There really is no comparison between creating diamonds and creating gold.  The former is perfecting a chemical process the latter is nuclear.

Here is my reply in the "Can both Bitcoin and Gold Survive?" thread on the other forum.

Im 85 percent crypto and 10 percent PMs. So im bullish (crypto) now.

but gold is here to stay until we can get enough energy to make lead into gold.

Gold will be around for a while

[Melbustus]

...

I have more LTC than gold, silver and every other metal combined.

Now that's nuts. I don't like the multi-decade outlook for PMs, but I don't like the multi-*year* outlook for litecoin. There are no prizes for being 2nd in this race, especially if you offer nothing technically over #1.

But I'm not a trader, so if you have some market-momentum argument, that's fine.

[El Cabron]

...

I have more LTC than gold, silver and every other metal combined.

Now that's nuts. I don't like the multi-decade outlook for PMs, but I don't like the multi-*year* outlook for litecoin. There are no prizes for being 2nd in this race, especially if you offer nothing technically over #1.

But I'm not a trader, so if you have some market-momentum argument, that's fine.

I agree and I am slowly moving some LTC into BTC (and some metals) but my point of making that public was to show people just how bullish I am on crypto. Just cuz I hold gold does not mean I don't like crypto.

Also I do have some LTC cuz if BTC breaks or forks LTC is our best shot. However BTC is looking stronger every day.

[cypherdoc]

...

I have more LTC than gold, silver and every other metal combined.

Now that's nuts. I don't like the multi-decade outlook for PMs, but I don't like the multi-*year* outlook for litecoin. There are no prizes for being 2nd in this race, especially if you offer nothing technically over #1.

But I'm not a trader, so if you have some market-momentum argument, that's fine.

I agree and I am slowly moving some LTC into BTC (and some metals) but my point of making that public was to show people just how bullish I am on crypto. Just cuz I hold gold does not mean I don't like crypto.

Also I do have some LTC cuz if BTC breaks or forks LTC is our best shot. However BTC is looking stronger every day.

yeah sure, your positions always magically change once we appear to be making a definitive turn in direction of the price, like over the last 2 days.  prior to that, you were bad mouthing crypto and pushing metals heavily.

not only that, you like to rewrite history, like that time several months ago when you claimed you were selling metals back in 2011.  no you weren't.  b/c for someone who so often likes to comment about how right they were, you would've been all over this thread back then announcing that fact as this thread was front and center.  instead we only hear about it a few months ago.

[cypherdoc]

remember this?

negative interest rates coming right up:

well, Harvard's Ken Rogoff appears to favor that idea:

http://cryptocrimson.com/2014/05/harvard-economics-professor-makes-case-bitcoin/

"Rogoff makes the compelling case that as the Federal Reserve’s efforts to stimulate the economy have been abysmal at best, and as the U.S. central bank has already slashed interest rates as low as zero percent, the only way in which they can go lower according the the professor, is if the U.S. would adopt some form of digital currency. Essentially, it is his belief that if rates were to dip below zero, which is possible, instead of you paying to take out a loan, banks would pay you to take out a loan.

As crazy as the idea sounds, and given the fact that those banking on earning interest from their savings accounts would be out of luck, Rogoff explains that this is unlikely with a cash economy because would then force consumers to spend, rather than save. His point is; however, the same point that the Fed makes, which is that in order to stimulate the economy, consumers need to spend. Despite the unlikely scenario of which would force consumers to spend instead of save, given negative interest rates, Rogoff says that this is where digital currency comes in.

The professor says that if there was no physical money, the unfavorable scenario would be avoided in the case in which negative interest rates exist; this is due to the fact that as digital currencies such as bitcoin do not need to be stored in traditional banks, consumers therefor would not be forced to spend it. In fact, rather than becoming less valuable, digital currencies such as bitcoin, which are deflationary in nature, would actually become more valuable with time.

According to Rogoff, another plus for digital currency is that it could actually increase tax revenue, based on the notion that without cash, the government could finally track transactions, elimination the potential for tax evasion. While critics of digital currencies like bitcoin say it promotes misuse and illegal conduct, Rogoff says that it has the potential to do just the opposite, meaning that with increased tracking, illicit operations would no longer be possible."

i'd love to read the original paper if anyone has access to it.  i don't quite understand fully the above paragraph as he appears to say that he wants to force ppl to spend by utilizing negative interest rates but yet he says Bitcoin will allow a safe haven to avoid just that.

the part i like though is where he says Bitcoin will become more valuable with time if negative interest rates are imposed along with a push to digital money becomes a reality.

bottom line:  negative interest rates could become a distinct reality.  keep buying.