Gold collapsing. Bitcoin UP.

[dnaleor]

Well... I'm still bullish on gold, for the mid term. I think there is a chence crypto will take a large part of the gold market in 10-20 years. But not in the next 5 years. I still have some gold. I sold some for BTC around 500 USD/BTC.

However, the bull market of BTC will be greater than the Gold bull market.

Tried to find a friend from whom I could lend some fiat to buy BTC with my gold als "pawn", but nobody accepted. I even offered to discount the gold value with 20% and offered a montly interest rate of 1%. Well, now it's to late. I will not buy BTC anymore. I have my stash and am happy with it. I will keep the gold as hedge against crypto failing ( )

[TeeBone]

Back to gold  

A friend of mine, who is into TA, told me he is shorting gold because he thinks gold will drop below 1000 USD/ounce...
Seems unlikely to me, but what do you guys think?

The gold manipulation is exposed now. Guess gold will start to rally again in the near future, no?

Im upping my previous 85% to 90% that we never see sub $1180 again. The bottom is in, smart money is accumulating. I havent bought as much gold since 2008 when it crashed to 600. everyone back then proclaiming gold dead just like they are now.

For sub $1000 gold to happen, we'd have to see 15% interest rates and fiat printing massively reduced. Expect that to happen ? We live in an entirely different world then 1980.

The Fed will never allow another '08 deflationary crash to happen again. They are going for broke, the next collapse will be the end of the USD.

[smoothie]

Back to gold 

A friend of mine, who is into TA, told me he is shorting gold because he thinks gold will drop below 1000 USD/ounce...
Seems unlikely to me, but what do you guys think?

The gold manipulation is exposed now. Guess gold will start to rally again in the near future, no?

Im upping my previous 85% to 90% that we never see sub $1180 again. The bottom is in, smart money is accumulating. I havent bought as much gold since 2008 when it crashed to 600. everyone back then proclaiming gold dead just like they are now.

For sub $1000 gold to happen, we'd have to see 15% interest rates and fiat printing massively reduced. Expect that to happen ? We live in an entirely different world then 1980.

The Fed will never allow another 08' deflationary crash to happen again. They are going for broke, the next collapse will be the end of the USD.

So did you chicken out on that escrowed bet with Cypher?

 

[sidhujag]

On the up side, there is a good chance it will be integrated with Open-Transactions, for all those cool 2.0 Bitcoin type services, solving the P2P trust of individual identity in a decentralized and trust free way.

Monetas just hired two Go programmers to work on adding features to btcd.

What if they used those coders also to fork btcd and modify it to into nmcd - a Go implementation of Namecoin?

Sounds good, I'd say it makes investing in NMC a more risky, I think Namecoin's value is in the merged mining and the total hashrate, i haven't been flowing btcd much, do you think it could fly as an alt?

I'd agree that merged-mining provides more value to a coin than anything else these new p&d alt coins offer. However the market hasn't priced it in yet so I'd say you are making a smart move by buying merged-mined coins...

Look at Devcoin its price is super duper low, and in comparison coins with similar amounts of supply are priced higher, not even being merge-mined. So it's just smart investment imo.

[smoothie]

Look at this desperate attempt to get the Ripple price up again. LOL http://www.coindesk.com/ripple-price-rebound-ceo-7-billion-xrp-donation/

Oh when will these kids learn?

Bitcoin building a base....to da moon!

[HeliKopterBen]

it's about understanding Bitcoin as a whole; the technical aspects plus the economic incentives involved.  if he fails to understand either one of those, he fails to understand Bitcoin.

The same can be said for economists who dismiss BTC.  They fail to understand the technology behind it.

[cypherdoc]

it's about understanding Bitcoin as a whole; the technical aspects plus the economic incentives involved.  if he fails to understand either one of those, he fails to understand Bitcoin.

The same can be said for economists who dismiss BTC.  They fail to understand the technology behind it.

Funny thing is when you think about it, they fail to understand the economics behind it too.

[HeliKopterBen]

Ha Ha.  Peter Schiff and other gold bugs came to mind.  They seem to understand the economics of sound money.  Its the keynesians who are totally clueless.

[cypherdoc]

Gold Collapsing. Bitcoin UP.

[ErisDiscordia]

it's about understanding Bitcoin as a whole; the technical aspects plus the economic incentives involved.  if he fails to understand either one of those, he fails to understand Bitcoin.

The same can be said for economists who dismiss BTC.  They fail to understand the technology behind it.

Funny thing is when you think about it, they fail to understand the economics behind it too.

Funny, but not surprising at all.



People with a degree in economics will be among the last to truly understand the economics behind Bitcoin. Too much disinformation posing as knowledge stands between them and understanding.

[cbeast]

it's about understanding Bitcoin as a whole; the technical aspects plus the economic incentives involved.  if he fails to understand either one of those, he fails to understand Bitcoin.

The same can be said for economists who dismiss BTC.  They fail to understand the technology behind it.

Funny thing is when you think about it, they fail to understand the economics behind it too.

Funny, but not surprising at all.



People with a degree in economics will be among the last to truly understand the economics behind Bitcoin. Too much disinformation posing as knowledge stands between them and understanding.

Now Secret Squirrels destroying non counterfeitable cryptocurrencies with stealth addresses.

[wachtwoord]

People with a degree in economics will be among the last to truly understand the economics behind Bitcoin. Too much disinformation posing as knowledge stands between them and understanding.

The intelligent, innovative contrarians among them will understand. Yes this is the minority but dismissing them is unfair.

[BldSwtTrs]

People with a degree in economics will be among the last to truly understand the economics behind Bitcoin. Too much disinformation posing as knowledge stands between them and understanding.

The intelligent, innovative contrarians among them will understand. Yes this is the minority but dismissing them is unfair.

Yeah, I have a degree in economics  

But I read Bastiat, von Mises and Hayek on my free time. It didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics. But I was sad to see that most current Austrians don't get it either. They simply had to read Hayek ffs... but I guess Hayek isn't enough Austrian for these dogmatic people...

[wachtwoord]

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.

[vokain]

People with a degree in economics will be among the last to truly understand the economics behind Bitcoin. Too much disinformation posing as knowledge stands between them and understanding.

The intelligent, innovative contrarians among them will understand. Yes this is the minority but dismissing them is unfair.

Yeah, I have a degree in economics  

But I read Bastiat, von Mises and Hayek on my free time. This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics. But I was sad to see that most current Austrians don't get it either. They simply had to read Hayek ffs... but I guess Hayek isn't enough Austrian for these dogmatic people...

Summary

Economics is only a social extension of a natural energy system. It, also, has its three passive components. Because of the distribution of wealth and the lack of communication and lack of data, this field has been the last energy field for which a knowledge of these three passive components has been developed.
Since energy is the key to all activity on the face of the earth, it follows that in order to attain a monopoly of energy, raw materials, goods, and services and to establixh a world system of slave labor, it is necessary to have a first strike capability in the field of economics. In order to maintain our position, it is necessary that we have absolute first knowledge of the science of control over all economic factors and the first experience at engineering the world economy.

In order to achieve such sovereignty, we must at least achieve this one end: that the public will not make either the logical or mathematical connection between economics and the other energy sciences or learn to apply such knowledge.

This is becoming increasingly difficult to control because more and more businesses are making demands upon their computer programmers to create and apply mathematical models for the management of those businesses.

It is only a matter of time before the new breed of private programmer/economists will catch on to the far reaching implications of the work begun at Harvard in 1948. The speed with which they can communicate their warning to the public will largely depend upon how effective we have been at controlling the media, subverting education, and keeping the public distracted with matters of no real importance.

...

To make a short story of it all, it was discovered that an economy obeyed the same laws as electricity and that all of the mathematical theory and practical and computer know-how developed for the electronic field could be directly applied in the study of economics. This discovery was not openly declared, and its more subtle implications were and are kept a closely guarded secret, for example that in an economic model, human life is measured in dollars, and that the electric spark generated when opening a switch connected to an active inductor is mathematically analogous to the initiation of war.


...

Diversion, the Primary Strategy

Experience has prevent that the simplest method of securing a silent weapon and gaining control of the public is to keep the public undisciplined and ignorant of the basic system principles on the one hand, while keeping them confused, disorganized, and distracted with matters of no real importance on the other hand.
This is achieved by:

disengaging their minds; sabotaging their mental activities; providing a low-quality program of public education in mathematics, logic, systems design and economics; and discouraging technical creativity.

....


Diversion Summary

Media: Keep the adult public attention diverted away from the real social issues, and captivated by matters of no real importance.
Schools: Keep the young public ignorant of real mathematics, real economics, real law, and real history.

Entertainment: Keep the public entertainment below a sixth-grade level.

Work: Keep the public busy, busy, busy, with no time to think; back on the farm with the other animals.

...

Mr. Rothchild's Energy Discovery

What Mr. Rothschild had discovered was the basic principle of power, influence, and control over people as applied to economics. That principle is "when you assume the appearance of power, people soon give it to you."

Mr. Rothschild had discovered that currency or deposit loan accounts had the required appearance of power that could be used to induce people (inductance, with people corresponding to a magnetic field) into surrendering their real wealth in exchange for a promise of greater wealth (instead of real compensation). They would put up real collateral in exchange for a loan of promissory notes. Mr. Rothschild found that he could issue more notes than he had backing for, so long as he had someone's stock of gold as a persuader to show his customers.

Mr. Rothschild loaned his promissory notes to individual and to governments. These would create overconfidence. Then he would make money scarce, tighten control of the system, and collect the collateral through the obligation of contracts. The cycle was then repeated. These pressures could be used to ignite a war. Then he would control the availability of currency to determine who would win the war. That government which agreed to give him control of its economic system got his support.

Collection of debts was guaranteed by economic aid to the enemy of the debtor. The profit derived from this economic methodology mad Mr. Rothschild all the more able to expand his wealth. He found that the public greed would allow currency to be printed by government order beyond the limits (inflation) of backing in precious metal or the production of goods and services.

[adamstgBit]

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.

WTF!?

[wachtwoord]

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.

WTF!?

I mistyped deflation. Thanks for telling me

[ErisDiscordia]

People with a degree in economics will be among the last to truly understand the economics behind Bitcoin. Too much disinformation posing as knowledge stands between them and understanding.

The intelligent, innovative contrarians among them will understand. Yes this is the minority but dismissing them is unfair.

Oh yes of course there are bound to be people like that in each group. No group is homogenous. I'm just stating that if any people with an economics degree do get it it's in spite of their "education" not thanks to it.

[bitcoinsrus]

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.

WTF!?

I mistyped deflation. Thanks for telling me

do you have a link to the article?

[wachtwoord]

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.

WTF!?

I mistyped deflation. Thanks for telling me

do you have a link to the article?

It's behind a pay wall (and in Dutch). Let met see what I can do.