Gold collapsing. Bitcoin UP.

[cypherdoc]

shorts coming down.  time to leverage USD:

[1714043117]

1714043117

[1714043117]

1714043117

[1714043117]

1714043117

[cypherdoc]

how'd you know all those bars were filled with tungsten?  oh, you didn't?

AFAIK the tungsten (W) bars are only used in insider operations where you are supposed to store gold (Au) in a vault, but swap them for bars of a cheaper metal, keep the gold in your private vault, and sell paper to the market to suppress the price.

no, they made it out to the public dealers:  http://www.zerohedge.com/news/2012-09-23/gold-counterfeiting-goes-viral-10-tungsten-filled-gold-bars-are-discovered-manhattan

[cypherdoc]

Gold collapsing.  Bitcoin up.

[cypherdoc]

USD ramping...

[cypherdoc]

poor gold:

http://www.zerohedge.com/news/2014-08-20/fomc-minutes-show-many-members-believe-rates-should-rise-sooner

[Spaceman_Spiff]

poor gold:

http://www.zerohedge.com/news/2014-08-20/fomc-minutes-show-many-members-believe-rates-should-rise-sooner

This is baddish for inflation-adjusted bitcoin prices too, no?  Protection from inflation is one of the drivers for bitcoin adoption.
Still, talk is cheap, let's see what they really do.

[cypherdoc]

poor gold:

http://www.zerohedge.com/news/2014-08-20/fomc-minutes-show-many-members-believe-rates-should-rise-sooner

This is baddish for inflation-adjusted bitcoin prices too, no?  Protection from inflation is one of the drivers for bitcoin adoption.
Still, talk is cheap, let's see what they really do.

i used to think that but i've changed my mind.  until i'm proven wrong.

Bitcoin being such a technological revolutionary force for money might actually thrive no matter we get deflation or inflation.  it's supermoney.  as an optimist for the future b/c of technology, a shift to a supermoney like Bitcoin could actually be the cause of deflation of all other assets, which could be a good thing.  a move to sound money will help everyone, not just a select few.

as we see for now, Bitcoin rising in the face of the announcement.  it's TIME.

[cypherdoc]

Bitcoin UP, everything else DOWN.

except for the USD of course.  but if Bitcoin ends up being used as a backing for the USD as a reserve currency, then that would make sense.

[smoothie]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man. 

[chriswilmer]

poor gold:

http://www.zerohedge.com/news/2014-08-20/fomc-minutes-show-many-members-believe-rates-should-rise-sooner

This is baddish for inflation-adjusted bitcoin prices too, no?  Protection from inflation is one of the drivers for bitcoin adoption.
Still, talk is cheap, let's see what they really do.

i used to think that but i've changed my mind.  until i'm proven wrong.

Bitcoin being such a technological revolutionary force for money might actually thrive no matter we get deflation or inflation.  it's supermoney.  as an optimist for the future b/c of technology, a shift to a supermoney like Bitcoin could actually be the cause of deflation of all other assets, which could be a good thing.  a move to sound money will help everyone, not just a select few.

as we see for now, Bitcoin rising in the face of the announcement.  it's TIME.

I agree with cypherdoc... but I would put it more simply. Bitcoin is just very small right now and its behavior/price isn't dominated by macroeconomic trends. Once the it is being used by more than 1% of the world's population, then I think its price will be closely correlated with things like GDP and the relative inflation rates of other currencies.

[smoothie]

poor gold:

http://www.zerohedge.com/news/2014-08-20/fomc-minutes-show-many-members-believe-rates-should-rise-sooner

This is baddish for inflation-adjusted bitcoin prices too, no?  Protection from inflation is one of the drivers for bitcoin adoption.
Still, talk is cheap, let's see what they really do.

i used to think that but i've changed my mind.  until i'm proven wrong.

Bitcoin being such a technological revolutionary force for money might actually thrive no matter we get deflation or inflation.  it's supermoney.  as an optimist for the future b/c of technology, a shift to a supermoney like Bitcoin could actually be the cause of deflation of all other assets, which could be a good thing.  a move to sound money will help everyone, not just a select few.

as we see for now, Bitcoin rising in the face of the announcement.  it's TIME.

I agree with cypherdoc... but I would put it more simply. Bitcoin is just very small right now and its behavior/price isn't dominated by macroeconomic trends. Once the it is being used by more than 1% of the world's population, then I think its price will be closely correlated with things like GDP and the relative inflation rates of other currencies.

Bitcoin is tiny right now in comparison to the world's total derivatives markets.

[cypherdoc]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man. 

GO smoothie GO!!!

[chriswilmer]

I have a soft spot for Litecoin... but I would be wary of holding it if Bitcoin starts uber-rallying.

[cypherdoc]

penetration of the support as called.  plunge incoming:

[Lowryder]

BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.

Would you rather take 30 of these:

http://www.usacoinbook.com/us-coins/gold-bar-1-kilo.jpg

Or 2700BTC?

If you cant take anything in between?

Wow 2700 BTC will comfortably put you in the Validimir club. I'd take that any day of the week

how'd you know all those bars were filled with tungsten?  oh, you didn't?

Of course I didn't. I just assumed they were gold for this thought experiment.

How many of "those" you own?

[smoothie]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man. 

GO smoothie GO!!!

So let's not address what I just posted. Okay moving on...

[cypherdoc]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man.  

GO smoothie GO!!!

So let's not address what I just posted. Okay moving on...

ok, you're serious. (btw, you added that last sentence after i responded  )

let me define what i think of as "everything" --> stocks, bonds, oil, gold, silver, soft commodities, and some fiat currencies.

i DON"T include Litecoin or any of the alts unless i specify them.

[cypherdoc]

jam the shorts, baby.

[cypherdoc]

Dear Shorts,

it's only going to get worse when that little green line turns UP.

Sincerely,

cypherdoc

[smoothie]

Bitcoin UP, everything else DOWN.

Wrong: https://bitcoinwisdom.com/markets/btce/ltcbtc  and https://bitcoinwisdom.com/markets/btce/ltcusd  

Cypher you know better than to spread misinformation. Come on man.  

GO smoothie GO!!!

So let's not address what I just posted. Okay moving on...

ok, you're serious. (btw, you added that last sentence after i responded  )

let me define what i think of as "everything" --> stocks, bonds, oil, gold, silver, soft commodities, and some fiat currencies.

i DON"T include Litecoin or any of the alts unless i specify them.

Ok so it is "everything". Gotcha.