Gold collapsing. Bitcoin UP.

[cypherdoc]

I've never mined though I own a couple of those ASIC USB devices as novelties.  I'll let you in on a little secret as to why since I like you:  It's fucking stupid!

your problem is you think that the mining hashrate will only go in one direction (up forever) and that what is right now will never change.

In point of fact, I said exactly the opposite.  I said that at some points it will be non-profitable to mine except in special circumstances and at these times it will be a rediculous argument that miners will switch pools.  They'll shut down.  One doesn't exactly need a graduate degree in economics to understand that.

And I said that you jumping around like a monkey pointing at a chart which showed basically nothing was silly.

 and as i said above, you see mining as one dimensional (fast buck) w/o considering all the other motivations for ppl to mine.  it's quite possible that the hashrate will level off or even drop at some point making mining more profitable for those who aren't profitable currently while at the same time keeping it more decentralized.  or maybe not.  the point is we don't know.  i choose to position myself with maximum diversity in regards to mining.  i don't have a lot invested in equipment and i try to keep my costs down.  but that's just me.  you choose to ignore it but at the cost of not understanding it.

according to this, mining revenue is going back up:  https://blockchain.info/charts/miners-revenue

therefore, i personally have decided to keep mining and as i said it is profitable for me.  it may not be for others who have higher costs.  so for you to blanket say that mining is "fucking stupid" is stupid and ignores all sorts of other variables.  it's a personal decision.

as far as my subs were concerned, they were offered a choice, buy a miner or don't.  nothing was forced upon them.  everyone has to do their own research and calculations and consider their own circumstances.  it's like all the other advice i give in the newsletter; you can choose to follow or not.  vokain above forgot to mention that in January i recommended to him personally via email that he get a refund while he had the opportunity to get one; he declined to do so and we see the results of that.

Ah that's right.  Blame the victim.  Although you are pretty clearly highly self-interested I never suspected you of being an outright scammer.  Blaming the victim is often associated with scammers though.

i'm glad that you think that i wield so much influence.  it's flattering.  keep trying hard to undermine that.

Gee, trolling on a thread set up for trolling.  Who could have seen that coming?  Anyway you seem to be adept at undermining whatever influence you might have all by yourself.  ('Magic Nonce'?  LOL!)

 -edit:  or I guess 'Golden Nonce Chip' now that I look back.  Either way it's a real hoot.

Geez, you must live a pitiful negative life.

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[DurbanPoison]

Anyone else expecting an end of the month precious metals slaughter?

I am and I'll be backing the truck up to the loading dock doors 

[smoothie]

as far as my subs were concerned, they were offered a choice, buy a miner or don't.  nothing was forced upon them.  everyone has to do their own research and calculations and consider their own circumstances.  it's like all the other advice i give in the newsletter; you can choose to follow or not.  vokain above forgot to mention that in January i recommended to him personally via email that he get a refund while he had the opportunity to get one; he declined to do so and we see the results of that.

This was my choice and that's fine, I stand by that and I hope the bankruptcy will proceed okay, though I've never been part of this shit before... but on the bright side it's been a stimulating game so far. But anyway, in the interests of being forthright I have to clarify this above statement. Cypherdoc, you were a compensated representative of Hashfast at one point. There was some conflict of interest in the trust your subscribers had for you and your affiliation with that company though our end goals and interests were more or less aligned.

Regardless, the whole point of purchasing miners at that point was so that I could make more bitcoins off the bitcoins I would invest. If everything worked out, everything would've been dandy and I would've appreciated and respected your representation of HashFast and my best interests as your sub. Given the hashrate then and the purported efficiency of the Golden Nonce chip, if I were able to be the first to mine I would've made bank. Along with their guarantees of a miner protection program and BTC refunds and absolute and definite wording that they'd deliver by October 20-30, I felt it was worth the risk.

Now, come a few months later when they did not deliver, I was not about to let them ream me of the bitcoins I put down. In January, there would've been no hope to ROI positively given KNC miners, and with their broken promises, violation of the FTC mail-order cancellation rule, a dollar refund at that point in January, had I taken their dollar settlement where that scumbag Ettinger also wanted me to give up my rights to sue in addition to their obligation to me to return the sole form of payment they took that I gave them, I would've only been about to recover 1/6-1/8 the bitcoins I had put down by purchasing them again. No way.

Now I don't blame you for HashFast's behavior or any of that, and yes, you did advise me to take the refund in January and from your perspective that would've been the safest option given the circumstances and revelations that have developed up to that point so I respect that, but speaking objectively, if one were to follow the advice you gave regarding HashFast, unfortunately, they would've lost a lot of money/time.

Cypher gave the option for HashFast. I for one did not follow through with my purchase and am happy I didn't. But Cypher can't be blamed for someone else reneging on their obligations.

[cypherdoc]

Prepare for launch

http://coincourant.nl/abn-amro-gaat-experimenteren-met-bitcoin/

[Ivanhoe]

Prepare for launch

http://coincourant.nl/abn-amro-gaat-experimenteren-met-bitcoin/

Now i can say to some people, told you so.

Oh btw just for your information. During the weekend of the bitcoin conference in Amsterdam next week ( who will attend this? ) there is another congress in Amsterdam. This one will be held in a office of the ABN Amro bank however ( just 100 seats ). A lot of Dutch bankers will attend this congress, like Jan-Kees de Jager ( former Dutch minister of Finance ) for example. Dutch bankers are really eager to understand bitcoin, i can tell you this from personal experience as well. History tells Holland always leads the way in Finance  .

[bitcoinsrus]

Prepare for launch

http://coincourant.nl/abn-amro-gaat-experimenteren-met-bitcoin/

Now i can say to some people, told you so

Google translate (from Dutch)

ABN Amro is experimenting with Bitcoin, according to an article by the Automation Guide. The trial is an initiative of Menno van Leeuwen, the manager at the Innovation Center of the nationalized bank.

Van Leeuwen thinks it's for ABN Amro wise not to ignore technological development, the eyes and indicates that he thinks it is better to experiment in order to be prepared for change themselves. "Banks are facing challengers from outside, who invent new things," says the manager. "If you ignore it, you can at a time for surprises and that is undesirable. The Bitcoin is not a regular payment, but it is a subject that requires a highly secure environment. We are experienced to our customers to provide a safe environment as a bank and the combination with the Bitcoin we test in practice. "

In the first experiments of the Innovation Center last no longer than three months. How ABN Amro's experiment exactly Bitcoin is unknown.

[wachtwoord]

Prepare for launch

http://coincourant.nl/abn-amro-gaat-experimenteren-met-bitcoin/

Now i can say to some people, told you so

Google translate (from Dutch)

ABN Amro is experimenting with Bitcoin, according to an article by the Automation Guide. The trial is an initiative of Menno van Leeuwen, the manager at the Innovation Center of the nationalized bank.

Van Leeuwen thinks it's for ABN Amro wise not to ignore technological development, the eyes and indicates that he thinks it is better to experiment in order to be prepared for change themselves. "Banks are facing challengers from outside, who invent new things," says the manager. "If you ignore it, you can at a time for surprises and that is undesirable. The Bitcoin is not a regular payment, but it is a subject that requires a highly secure environment. We are experienced to our customers to provide a safe environment as a bank and the combination with the Bitcoin we test in practice. "

In the first experiments of the Innovation Center last no longer than three months. How ABN Amro's experiment exactly Bitcoin is unknown.

So Rabobank and ING go the big dinosaur tactic while ABN actually wants to survive. Not what I would expect from a government owned "company".

[cypherdoc]

No time stamps?

http://mobile.bloomberg.com/news/2014-06-19/currency-probe-widens-as-u-s-said-to-target-markups.html

[adamstgBit]

Silver doing the dead cat bounce  

good call cypherdoc, now may be a good time to get some more SLV shorts in  

[cypherdoc]

Silver doing the dead cat bounce  

good call cypherdoc, now may be a good time to get some more SLV shorts in  

sharpening the stick.

[thezerg]

No time stamps?

http://mobile.bloomberg.com/news/2014-06-19/currency-probe-widens-as-u-s-said-to-target-markups.html

In a state of near perfect competition market makers must use information inequality to profit.  This is a euphemism for taking advantage of your customers...

[cypherdoc]

Monster move in gold.

[FNG]

Monster move in gold.

 


Curious, cypher. Are you familiar with FOFOA and his Freegold theory?

Thoughts?

[Dragonkiller]

Bitcoin stable. Gold UP 

Morgan Stanley two months ago: 'gold price won't see $1,300 again' lulz.

[cypherdoc]

Monster move in gold.

 


Curious, cypher. Are you familiar with FOFOA and his Freegold theory?

Thoughts?

yes.

miscreanity and i have debated his work ad nauseum 2-3 yrs ago in the precursor to this thread:

Gold: I Smell a Trap

[cypherdoc]

legging in slowly...

[cypherdoc]

USD, UST's, stocks all down, with gold up.  hmmmm....

only one day so no big deal.  will have to see if this unusual correlation persists.

[zeetubes]

USD, UST's, stocks all down, with gold up.  hmmmm....

only one day so no big deal.  will have to see if this unusual correlation persists.

There will be massive pressure to get the price of gold and silver back below $1300 and $20 before the markets close.  I hope they're not successful.

[FNG]

Cheers. I'll gibe the thread a read.

USD, UST's, stocks all down, with gold up.  hmmmm....

only one day so no big deal.  will have to see if this unusual correlation persists.

My eyes are on this.

http://www.telegraph.co.uk/news/worldnews/middleeast/saudiarabia/10911281/Iraq-crisis-Britain-and-US-must-not-meddle-in-Iraq-warns-Saudi-Arabia.html

A failure in our relationship with S.A, Qatar, and Kuwait could see a flood of $'s and mad dash to gold. U.S already fucked up on Russia....S.A will be the straw so to speak.

$ collapsing, Gold and bitcoin up a hell of a lot

[adamstgBit]

 

silver has made a new high again

20$ silver  Never again!