Gold collapsing. Bitcoin UP.

[STT]

Ashraf Laidi  a currency trader pointed out that gold rising usually goes in time with lower bitcoin and vice versa.   Im not sure why that'd be especially, do people switch that much from one to the other as bitcoin is alot more portable its a maybe?

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[bigasic]

There is no doubt in my mind that bitcoin will be much higher than gold in the near future. When we hit 1200 ATH. I had a few bullion dealers call me to get my perspective on bitcoin. Its kind of ironic, back when bitcoin was sub 10 and gold/silver was doing fairly well, they thumbed their noses at BTC. Now, I think they are wishing they jumped on the btc train...

[cypherdoc]

Ashraf Laidi  a currency trader pointed out that gold rising usually goes in time with lower bitcoin and vice versa.   Im not sure why that'd be especially, do people switch that much from one to the other as bitcoin is alot more portable its a maybe?

If you zoom out, gold topped in 9/2011 while bitcoin bottomed in 11/2011. You know the rest.

I think this inverse correlation will strengthen with time. 

[tvbcof]

gold collapsing, bitcoin up!

Quoted for reference in the future =).

BTW ...that is pretty funny. Thanks for the laugh. I just see that you are looking in the mirror when that troll face pops up...

Nothing like trolling yourself and not knowing it. 

Not knowing it?  Just a day or two ago I declared that I was trolling this thread hard in part because I was and in part because Cypherdoc declared that the whole purpose of the thread was to troll gold bugs.  Fun for everyone.  I'm glad you had a laugh since that was the idea.

I actually created a sock-puppet called 'cyphercoc' and this was supposed to be it's avatar.  (Theymos welcomes such a thing BTW (or did) and I always make my it clear who my sock puppets are in post #1.)  Anyway, after dicking around for half an hour on the AG and this forum I found out that avatars are no longer functional.  Oh well.

[Adrian-x]

Ashraf Laidi  a currency trader pointed out that gold rising usually goes in time with lower bitcoin and vice versa.   Im not sure why that'd be especially, do people switch that much from one to the other as bitcoin is alot more portable its a maybe?

Pavlov training his dogs, when it works like clockwork  , then it doesn't. I recall seeing a similar correlation with the Dow before the last run up.

[cypherdoc]

.

I actually created a sock-puppet called 'cyphercoc' and this was supposed to be it's avatar.  (Theymos welcomes such a thing BTW (or did) and I always make my it clear who my sock puppets are in post #1.)  Anyway, after dicking around for half an hour on the AG and this forum I found out that avatars are no longer functional.  Oh well.

You know, tvbcoc once admitted to all of us that this thread irritated the hell outta him. I'm glad to see that it's working.

I'm sure if you spend a few more hours of your time you could get theymos to use your avatar.

I like being put up on a pedestal. Perhaps you should call me General like Adrian did once.

[zeetubes]

After reading a few articles about Thursday and Friday's PM actions, it looks like someone took a leaf out of the fed's books and placed a huge buy order (as opposed to the usual huge paper dump) and perhaps it took the big players by surprise. It certainly took them until Friday afternoon until they got the price back under some level of control. If google's shares suddenly spiked like that, almost no one would short it but PM markets don't work that way, for now at least. It's always fun to read the MSM and how the price settled because of "profit taking." Right. Either way, it feels like things are starting to get interesting again. BTC will probably be quiet until the Fibbies sell their stash so maybe next week will have some more fun gold and silver action.

[nwfella]

gold could easily explode at any time ... no i mean really explode.

the parlous situation in the gold markets and gold banking world is untenable, there is very little physical gold to be had anywhere.

on very good authority a major swiss bank is now refusing customer withdrawals of physical bullion and insisting on cash (fiat) settlement only ... this is a pattern that has become more and more widespread but Swiss banks out of gold? really? yes really.

Very interesting.  Have any idea as to a rough-estimate timeline?  Are we talking months, years, multiples of years?  Also interesting the timing of ATM approval being granted to bitcoin atm manufacturer.  Exciting times ahead it seems.

[cypherdoc]

Let's not forget that Matt has taken great personal career risk in pursuing Bitcoin as he has, imo. He'll never admit it, but it's true.

http://www.youtube.com/watch?v=gZGN_VNGf_U

[cypherdoc]

Hey tvbcoc,

You too can Follow Me onTwitter if you want to continue to see great graphs like this:

https://twitter.com/cypherdoc2/status/480367716050935808

[zeetubes]

Even Jeffrey Tucker's eaten the troll food!

http://m.youtube.com/watch?v=s0kDX3yjiFc&feature=share

I've only been reading JT's stuff for 18 months or so but I've only ever heard him say positive things about bitcoin.

[cypherdoc]

Even Jeffrey Tucker's eaten the troll food!

http://m.youtube.com/watch?v=s0kDX3yjiFc&feature=share

I've only been reading JT's stuff for 18 months or so but I've only ever heard him say positive things about bitcoin.

But never to this degree. Don't forget:

Tucker is past editorial vice president of the Ludwig von Mises Institute and past editor for the institute's website, Mises.org.

[smoothie]

gold collapsing, bitcoin up!

Quoted for reference in the future =).

BTW ...that is pretty funny. Thanks for the laugh. I just see that you are looking in the mirror when that troll face pops up...

Nothing like trolling yourself and not knowing it. 

Not knowing it?  Just a day or two ago I declared that I was trolling this thread hard in part because I was and in part because Cypherdoc declared that the whole purpose of the thread was to troll gold bugs.  Fun for everyone.  I'm glad you had a laugh since that was the idea.

I actually created a sock-puppet called 'cyphercoc' and this was supposed to be it's avatar.  (Theymos welcomes such a thing BTW (or did) and I always make my it clear who my sock puppets are in post #1.)  Anyway, after dicking around for half an hour on the AG and this forum I found out that avatars are no longer functional.  Oh well.

To be perfectly honest from an outside perspective looking in, you appear butthurt. Why is that? 

[tvbcof]

To be perfectly honest from an outside perspective looking in, you appear butthurt. Why is that? 

I don't detect any butthurt about anything personally.  Maybe there is, but I don't detect it.  But as the question is phrased, it's a personal thing which you'll have to look within yourself to answer.

To double-up on this post, I would say that Cypherdoc could deserve a fairly high rank.  Indeed, he's kind of the General Boykin of Bitcoin in a lot of ways.

[smoothie]

To be perfectly honest from an outside perspective looking in, you appear butthurt. Why is that? 

I don't detect any butthurt about anything personally.  Maybe there is, but I don't detect it.  But as the question is phrased, it's a personal thing which you'll have to look within yourself to answer.

To double-up on this post, I would say that Cypherdoc could deserve a fairly high rank.  Indeed, he's kind of the General Boykin of Bitcoin in a lot of ways.

  My view still remains the same even after this ^ post.

[cypherdoc]

Hey tvbcoc,

General Cypherdoc says:

Bitcoin UP.

[cypherdoc]

Vitalik continues to go off the deep end to justify Ethereum's premine:

http://www.cryptocoinsnews.com/news/bitcoin-foundations-approach-threat-ghash-51-attack-recklessly-conservative-says-vitalik-buterin/2014/06/22

[tvbcof]

Hey tvbcoc,

General Cypherdoc says:

Bitcoin UP.

Ya, I hope it will happen in 2014 and I think that there is still some chance.  Already half way through the year and Bitcoin is still only at $600-ish.  Half a year is nothing for most investments, but crypto-currencies are so active that if we have to wait another few years for Bitcoin to recover a lot of other things could happen over that time period.

[Zangelbert Bingledack]

Vitalik continues to go off the deep end to justify Ethereum's premine:

http://www.cryptocoinsnews.com/news/bitcoin-foundations-approach-threat-ghash-51-attack-recklessly-conservative-says-vitalik-buterin/2014/06/22

Yeesh. He's really taking advantage of the fear of GHash.io and the Bitcoin Foundation. Anything to preserve the precious premine.

To be fair, it's extremely rare for a person of his age to understand economics, even if they are geniuses in other areas. Not saying it can't be done, but it's rare. It's hard to see past the premine logic without some actual understanding of economics (I say "actual" because he seems to have studied economics, but economic thinking doesn't seem to come naturally to him).

[cypherdoc]

Vitalik continues to go off the deep end to justify Ethereum's premine:

http://www.cryptocoinsnews.com/news/bitcoin-foundations-approach-threat-ghash-51-attack-recklessly-conservative-says-vitalik-buterin/2014/06/22

Yeesh. He's really taking advantage of the fear of GHash.io and the Bitcoin Foundation. Anything to preserve the precious premine.

To be fair, it's extremely rare for a person of his age to understand economics, even if they are geniuses in other areas. Not saying it can't be done, but it's rare. It's hard to see past the premine logic without some actual understanding of economics (I say "actual" because he seems to have studied economics, but economic thinking doesn't seem to come naturally to him).

As Melbustus has said,  it's really a lack of experience