Gold collapsing. Bitcoin UP.

[cypherdoc]

I want to see it touch $250

Comparing the price of altcoins to fiat is broken and wrong.

The only thing that matters is if you're better off holding Bitcoin or the alt, and to determine that you compare the alt/BTC exchange rate.

Otherwise you'll end up in situations where the altcoin appreciates 10x vs the USD and you think you've done well, but at the same time BTC appreciated 100x so you've actually lost 90% of your purchasing power.

i can't find a charting program that will allow me to draw a support line connecting the lows of April and Nov 2013. looks broken to me.  anyone?

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[cypherdoc]

why doesn't the mainstream media ever use such great headlines as this?:

http://www.reddit.com/r/Bitcoin/comments/2d8vec/another_point_we_need_to_focus_on_more_how_many/

[cypherdoc]

watching youtube videos of cpu miners back in 2011 gave me the same sense of inevitability:

That even if someone wanted to bring down bitcoin, they’d have to outdo these guys and the dozens of other operations like this around the world. The decentralized nature of it all… that this is just one operation among many, run by different operators in different countries around the world. This really drove home that bitcoin can’t be killed by decree. Make it illegal in one country and people like this will keep hashing away in others.

http://www.thecoinsman.com/2014/08/bitcoin/inside-chinese-bitcoin-mine/

[Adrian-x]

why doesn't the mainstream media ever use such great headlines as this?:

http://www.reddit.com/r/Bitcoin/comments/2d8vec/another_point_we_need_to_focus_on_more_how_many/

How many counterfeit Bitcoins are in circulation? oh yeah 0!

This leads to why offline transactions like using GoxCoins is dangerous and ultimately leads to the understand that Fractional Reserve "Money" is counterfeit.

[traderCJ]

Break out the lube, boys 

[cypherdoc]

Break out the lube, boys  

when traderCJ speaks, _________ .

[Wekkel]

There are different ways of looking at it. I think most will agree that the current price point is important.

[smoothie]

watching youtube videos of cpu miners back in 2011 gave me the same sense of inevitability:

That even if someone wanted to bring down bitcoin, they’d have to outdo these guys and the dozens of other operations like this around the world. The decentralized nature of it all… that this is just one operation among many, run by different operators in different countries around the world. This really drove home that bitcoin can’t be killed by decree. Make it illegal in one country and people like this will keep hashing away in others.

http://www.thecoinsman.com/2014/08/bitcoin/inside-chinese-bitcoin-mine/

The first Bitcoin mining video I seen in 2011 was Mike Caldwell with his FOUR 5970's mining. I never seen CPU mining on youtube ever in 2011.

You got links?

[smoothie]

why doesn't the mainstream media ever use such great headlines as this?:

http://www.reddit.com/r/Bitcoin/comments/2d8vec/another_point_we_need_to_focus_on_more_how_many/

How many counterfeit Bitcoins are in circulation? oh yeah 0!

This leads to why offline transactions like using GoxCoins is dangerous and ultimately leads to the understand that Fractional Reserve "Money" is counterfeit.

Not true. Anyone can fork the chain and create countefeit bitcoins. Of course they would have to convince the other party to use the same modified client.

But in the original BTC network...yes there is 0.

[sidhujag]

Hey look!

Dow goes up, Dow goes down,  gold goes up, gold goes down. Meanwhile;

Bitcoin goes UP!

Chart I'm looking at has BTC trending down for a month.  The bad news, though, is that the imbalance is heavy on the supply side.  At this point I'll be surprised to see a selling opportunity which works for me in 2014, and not at all surprised to seen some significant downside in the intrim.  Oh well.

LTC didnt reach target for me means its dragging it all down. Physcologically we are not ready for the next uptick, for me, until that level is tested, unless we go up and then come crash down later on which is not bullish long term... anyways just what worked for me in trading forex over the years... you build up an intuition of levels that must test before the real trend resumes. Something you cant really teach.

LTC going for it!

[sidhujag]

gold market backwardation happening, weee free money!

http://economictimes.indiatimes.com/wealth/savings-centre/analysis/art-cashin-traders-are-talking-about-a-gold-conspiracy-theory-and-theres-evidence-to-back-it-up/articleshow/40051092.cms

[cypherdoc]

watching youtube videos of cpu miners back in 2011 gave me the same sense of inevitability:

That even if someone wanted to bring down bitcoin, they’d have to outdo these guys and the dozens of other operations like this around the world. The decentralized nature of it all… that this is just one operation among many, run by different operators in different countries around the world. This really drove home that bitcoin can’t be killed by decree. Make it illegal in one country and people like this will keep hashing away in others.

http://www.thecoinsman.com/2014/08/bitcoin/inside-chinese-bitcoin-mine/

The first Bitcoin mining video I seen in 2011 was Mike Caldwell with his FOUR 5970's mining. I never seen CPU mining on youtube ever in 2011.

You got links?

maybe not.  i started looking at them sometime around Jan 2011.  many of those videos aren't on youtube anymore.  but you're right, the gpu revolution was starting about that time.

[solex]

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

[cypherdoc]

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest. 

money is not a game. it will make ppl not only happy, but very sad.  looks to me like all the fun has worn off.  now it's time for the pain and sorrow.

[wachtwoord]

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest. 

money is not a game. it will make ppl not only happy, but very sad.  looks to me like all the fun has worn off.  now it's time for the pain and sorrow.

Couldn't agree more. Those that manage to discover crypto only to invest in DOGE .... well, they should be a little ashamed of themselves.

[marcus_of_augustus]

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest. 

money is not a game. it will make ppl not only happy, but very sad.  looks to me like all the fun has worn off.  now it's time for the pain and sorrow.

who could a known??
Dogecoin was a dog investment ...

[cypherdoc]

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest. 

money is not a game. it will make ppl not only happy, but very sad.  looks to me like all the fun has worn off.  now it's time for the pain and sorrow.

Couldn't agree more. Those that manage to discover crypto only to invest in DOGE .... well, they should be a little ashamed of themselves.

MOST of the ppl investing in crypto currencies are going to lose money.

[Spaceman_Spiff]

I'm fascinated by this death-spiral as it reminds me of the movie "Black Hole" when the event horizon was being approached:

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

of all the alts, Dogecoin is one of the dumbest.  

Indeed, too bad you can't short it (as far as I am aware).
EDIT: the volatility spikes could be killers too for margin calls, depending on how the exchange would handle them.

[HarmonLi]

Bitcoin is experiencing waves of up and downs all the time, as Gold. But in the case of Gold those waves remain at the same levels. Bitcoin gets to all new heights. I think it's better to stick with our favourite crypto-currency!

[cypherdoc]

Bitcoin is experiencing waves of up and downs all the time, as Gold. But in the case of Gold those waves remain at the same levels. Bitcoin gets to all new heights. I think it's better to stick with our favourite crypto-currency!

Yep, bears have to try harder.

In order to get any true selling going they have to get it to below 554.