Gold collapsing. Bitcoin UP.

[traderCJ]

Gold down 4% this month, Bitcoin down 10%.  Way to go cypher.  You're getting desperate .. and I love it

Zerg, would you please post an update?

Can't do the math yourself?  Fuck's sake  

downgold getting you a little testy?

Hate to burst your bubble, but my holdings have been mostly liquidated to cover capital expenditures for commercial equipment.  But it's always fun to watch the circle jerk ..

And I really don't give a crap about your thread rules ..

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[cypherdoc]

And I really don't give a crap about your thread rules ..

sad 

[Melbustus]

...Start a business.  That's what I did.

I've started several. Just sold one, in fact.

... Amazing what can happen after pondering and finding better ways to accumulate wealth. ...

While I generally agree that starting a business is the best way to reliably create/increase wealth, I still think bitcoin, while quite volatile and ultimately binary, is one of the most asymmetric investment opportunities we're likely to see in our lifetime. This lays out the bull case decently: http://honestnode.com/bitcoin-fair-value-a-first-assessment/ .

[traderCJ]

And I really don't give a crap about your thread rules ..

sad 

Cypher, you're the circle jerk ring-leader in this thread.  You've no moral high ground and cherry pick data with the best of them.  Spare me ..

[traderCJ]

While I generally agree that starting a business is the best way to reliably create/increase wealth, I still think bitcoin, while quite volatile and ultimately binary, is one of the most asymmetric investment opportunities we're likely to see in our lifetime. This lays out the bull case decently: http://honestnode.com/bitcoin-fair-value-a-first-assessment/ .

I'll agree that it's a volatile investment opportunity What makes people so certain that Bitcoin will remain the champion with so many cryptocurrency sharks circling?

[cypherdoc]

And I really don't give a crap about your thread rules ..

sad 

Cypher, you're the circle jerk ring-leader in this thread.  You've no moral high ground and cherry pick data with the best of them.  Spare me ..

darn right.  this is the Speculation Forum for Chr*st's sake.  the Wild West at it's best!  if you can't handle it, go get yourself another nanny.

however, this is exactly why we have the Silverbox Update...

[cypherdoc]

daily reversal candle, ON VOLUME:

[Melbustus]

While I generally agree that starting a business is the best way to reliably create/increase wealth, I still think bitcoin, while quite volatile and ultimately binary, is one of the most asymmetric investment opportunities we're likely to see in our lifetime. This lays out the bull case decently: http://honestnode.com/bitcoin-fair-value-a-first-assessment/ .

I'll agree that it's a volatile investment opportunity What makes people so certain that Bitcoin will remain the champion with so many cryptocurrency sharks circling?

I've addressed the alt argument at length, many times, as have many others. Here's my latest:

...
It should be somewhat clear that 99% of existing alts will lose 99% of their value over the next few years. Most alt "innovations" either aren't innovations (like tweaking blocktime or supply), don't work, don't scale, or don't matter. Furthermore, ninja-mining, pre-mining, ugly emission curves, 51%s, NaS attacks, etc, can all kill coins even if there *were* actual innovation. And further still, it's probably the case that if any meaningful, viable innovation ever gets done in the alt-space, bitcoin could eventually incorporate it, making the separate chain irrelevant.

You have to understand that bitcoin's innovation was 30yrs in the making. Solving distributed global consensus was a breakthrough in computer science. There has not been a single innovation in the alt space that even sorta compares to that. Not one. Which is why bitcoin is highly likely to remain dominant.

Furthermore, it's been well understood for the past 20-30yrs that if you could solve distributed global consensus, you could do digital cash, and it would be a big deal. It's just that no one had figured out how to solve double-spending (global consensus) prior to Satoshi. There is no similar known problem being attacked in the alt-space for which a solution would be a breakthrough of similar magnitude. So an alt would have to luckbox into some completely unforeseen yet incredible innovation.

So bitcoin likely remains the primary crypto-coin. That said, there *are* potential niches to be filled by alt-coins. The only one I can clearly identify is anonymity. It's clear that bitcoin does not offer meaningful anonymity unless the user is technically skilled enough and motivated enough to obfuscate their transaction chains sufficiently. Furthermore, bitcoin is becoming a global asset class, fit for corporate balance sheets and HNW portfolios. It's also obviously seeing high-profile merchant adoption, and tacit acceptance/approval by various governments and regulatory bodies. If bitcoin offered technically pure anonymity that required zero user effort, governments would probably be a lot more directly hostile towards it. Thus, it seems unlikely that the bitcoin community would embrace full-anon tech in bitcoin core; lest governments react harshly and reduce existing ecosystem investment value dramatically.

So that leaves the anonymity niche open to an alt. As I've previously noted, ever since Zerocoin was published, I thought that when it came out as a functional implementation, it'd be the first actually interesting alt-coin. Well, it looks like these CryptoNote coins have beaten it to the punch of functional anonymity. Which CN coin will win is a different matter. XMR seems out in front, but the waters are muddy still.

I don't see any other obvious niches for alts. Turing completeness is interesting in theory, but I wouldn't trust the security of such a chain for a quite a while, and much of the benefits may be possible in bitcoin anyway. Other than that.... ?

Now that's not to say you couldn't make a killing if you play the alt market perfectly, and jump from coin to coin as they fall in and out of favor. But good luck not losing your shirt.



tl;dr: Alts suck, with very few even theoretical exceptions.

[cypherdoc]

stocks moving down further.  i smell deflation:

[cypherdoc]

nice, nice!:

[BitcoinTangibleTrust]

BitcoinTangibleTrust: You're cherry picking the data.  Where were you when coin dropped to 560 and gold held in the mid 1290s yesterday?

traderCJ. We actually wrote about the drop yesterday waiting to see if Bitcoin would continue to correlate with gold, but for today, it's bucking the trend. We think that's a great story.

http://research.digitaltangibletrust.com/breaking-news-gold-collapses-while-bitcoin-soars/



Comments welcomed!

[cypherdoc]

coming up on -300 for the Dow...

you'd better RuntoSafety.

[cypherdoc]

Boom.  -306.99

[HeliKopterBen]

@traderCJ

Here is the Silverbox update Cypher is reffering to



Since the beginning of this thread (which is not a cherry-picked point):

GOLD DOWN:  -24.2%

BTC UP:  +11,075%


OR


GOLD DOWN:  -99.32% when priced in BTC

BTC UP:  +14,603% when priced in Gold


Maybe we should rename this the TraderCJ update

[cypherdoc]

ding, ding, ding

Dow -317.06

[cypherdoc]

some blessed soul on Reddit found the full US monetary base i couldn't find going back to 1918.

this inflation seems a little higher than Bitcoin's:

[cypherdoc]

[tabnloz]

@traderCJ

Here is the Silverbox update Cypher is reffering to



Since the beginning of this thread (which is not a cherry-picked point):

GOLD DOWN:  -24.2%

BTC UP:  +11,075%


OR


GOLD DOWN:  -99.32% when priced in BTC

BTC UP:  +14,603% when priced in Gold


Maybe we should rename this the TraderCJ update

wow!

[cypherdoc]

https://twitter.com/cypherdoc2/status/494943807621042176

[cbeast]

https://twitter.com/cypherdoc2/status/494943807621042176

Rickards: "Tulips."