Gold collapsing. Bitcoin UP.

[cypherdoc]

ya gotta believe the ENTIRE gold community is reading this thread:

[cypherdoc]

Bank of America reaches $16.65 billion settlement with U.S.
http://fortune.com/2014/08/20/bank-of-america-reaches-17-billion-settlement-with-u-s/

still ridiculous..

i heard a stat the other day in a podcast that the Fed owns 1/3 of the UST market and Fannie Mae 1/2 of the mortgage market.  what's left unsaid there is all the banks that are enabling their owns profits thru these 2 supposedly pro-citizen gvt institutions.  unfortunately, we are stuck paying interest rates on loans created out of thin air.

[cypherdoc]

looks like Lawsky will extend:

https://twitter.com/BenLawsky/status/502493642846912512

[cypherdoc]

in case you didn't catch my drift from yesterday's FOMC, the reason gold is tanking today and yesterday is rate hikes possibly on the horizon:

http://www.reuters.com/article/2014/08/21/us-usa-fed-george-idUSKBN0GL13I20140821

edit:  along with a # of other factors

[cypherdoc]

in case you didn't catch my drift from yesterday's FOMC, the reason gold is tanking today and yesterday is rate hikes possibly on the horizon:

http://www.reuters.com/article/2014/08/21/us-usa-fed-george-idUSKBN0GL13I20140821

and then, you gotta wonder, why has the USD been rallying since 7/1?  it can't be that someone knew this was gonna happen, could it?

this is why one has to be a technical analyst.  shit starts happening on charts before the news ever comes out. 

[cypherdoc]

this sounds good:

https://bitcoinfoundation.org/2014/08/a-bitcoin-backbone/

[smoothie]

Satoshi won't be kind this time by putting his fist through the face of gold.

maybe. Still, BTC is going down from 8 months+ almost no-stop and is less than 50% its ATH.
gold collapsed less atm.

...it all depends on the timeframes ...

[cypherdoc]

this puts it into perspective:

https://equities.wedbush.com/clientsite/Research/ActionAlertFilePreview.asp?UUID=6B2CD54D-EFE9-44CC-B741-0E7B9AFCC260&ViewerID=1CE41D7D-B184-45DA-AF98-1334A2E3030F

Y axis is price.  Visa currently @ $216.34

[rocks]

looks like Lawsky will extend:

https://twitter.com/BenLawsky/status/502493642846912512

They just might have realized it is not only possible, but quite likely, that the majority of the bitcoin ecosystem will simply exit NY and ignore the regulations. As the Circle CEO said, they are simply unworkable.

Such a result would be devastating to the regulators going forward because it would set a strong precedent and expose the emperor as having no clothes.

If the regulators are to have any hope in the bitcoin space, it is best for them to start very small and reasonable so the majority of firms decide to go ahead and get a BitLicense. Once they are captured it is much easier to slowly increase the rules to be more draconian, while at the same time you've just made it nearly impossible for firms to drop BitLicenses and exit NY without getting sued/imprisoned out of existence.

I was actually very relieved when the BitLicense rules first came out. My thinking was by making the rules so horrible & unconstitutional, that the bitcoin ecosystem would evolve to be more resilient against regulation. Now my worry is the regulators might wake up and take the start slow then increase path, which is a better option for a Machiavellian regulator.

[jmw74]

this puts it into perspective:

https://equities.wedbush.com/clientsite/Research/ActionAlertFilePreview.asp?UUID=6B2CD54D-EFE9-44CC-B741-0E7B9AFCC260&ViewerID=1CE41D7D-B184-45DA-AF98-1334A2E3030F

Y axis is price.  Visa currently @ $216.34

How is that graph even remotely correct?  Visa can't go down?  Bitcoin can't go below 250 for 5 years?

Just throw the graph away and write "Bitcoin's potential is at least 100x its current value, Visa's potential is mostly used up".

[cypherdoc]

this puts it into perspective:

https://equities.wedbush.com/clientsite/Research/ActionAlertFilePreview.asp?UUID=6B2CD54D-EFE9-44CC-B741-0E7B9AFCC260&ViewerID=1CE41D7D-B184-45DA-AF98-1334A2E3030F

Y axis is price.  Visa currently @ $216.34

How is that graph even remotely correct?  Visa can't go down?  Bitcoin can't go below 250 for 5 years?

Just throw the graph away and write "Bitcoin's potential is at least 100x its current value, Visa's potential is mostly used up".

i agree it's rather bizarre.  comparing Visa's stock price to Bitcoin's price doesn't make a lot of sense.  nor the timeframes as you mention.  it's just guessing on his part.

[User705]

looks like Lawsky will extend:

https://twitter.com/BenLawsky/status/502493642846912512

Clearest signal to switch from metals to crypto.  Imagine that lawsky wanted to apply same regs to gold.  Very doubtful that anything or anyone would make him stop or change his mind.  Bitcoin is very different.   It may be the next wealth sink like gold ETFs were but boy is there a lot of room to go before that even becomes an issue.

[STT]

the reason gold is tanking today and yesterday is rate hikes possibly on the horizon:

Just that dynamic alone is probably the most important thing to consider in the next five years.    You know they could raise rates but still lag inflation and so have no real effect and this is very likely to happen.   We have a large political influence so any raising of rates is quite certain to lag behind actual increases in monetary base.     There is so many factors pointing towards this and we have like a sleepy dead head reaction to the quite apparent danger.   Raising of rates effects government very badly, it increases the deficit.   Then USA has the lowest turnover time of its debt in the world, it has the largest amount to deal on every occasion also.  Yet it lacks the figures to support such a large debt overhang.

 So the influence on rates from this is massive and obviously going to lead to interest rates not being a reason for gold to go down.  I know thats the perception and I wont argue thats not the reason gold fell recently or any other time.   But at some point the real momentum in the situation is a lack of currency integrity on multiple fronts, dollar will be weaker then gold and thats why its a buy.   I wouldnt invest or hold for other reasons or speculative.                
Similar reasoning could have been applied to the housing debt 10 years back maybe.   Renting was cheaper then buying, even if capital appreciation was real for housing owners the underlying efficency supported the case for selling that asset.  So at that point housing debt vs dollar (or gold or whatever currency base you prefer) was weaker outlook.   Ag

[vuduchyld]

the reason gold is tanking today and yesterday is rate hikes possibly on the horizon:

Just that dynamic alone is probably the most important thing to consider in the next five years.    You know they could raise rates but still lag inflation and so have no real effect and this is very likely to happen.   We have a large political influence so any raising of rates is quite certain to lag behind actual increases in monetary base.     There is so many factors pointing towards this and we have like a sleepy dead head reaction to the quite apparent danger.   Raising of rates effects government very badly, it increases the deficit.   Then USA has the lowest turnover time of its debt in the world, it has the largest amount to deal on every occasion also.  Yet it lacks the figures to support such a large debt overhang.

 So the influence on rates from this is massive and obviously going to lead to interest rates not being a reason for gold to go down.  I know thats the perception and I wont argue thats the reason gold fell recently or any other time.   But at some point the real momentum in the situation is a lack of currency integrity on multiple fronts, dollar will be weaker then gold and thats why its a buy.   I wouldnt invest or hold for other reasons or speculative.                 
Similar reasoning could have been applied to the housing debt 10 years back maybe.   Renting was cheaper then buying, even if capital appreciation was real for housing owners the underlying efficency supported the case for selling that asset.  So at that point housing debt vs dollar (or gold or whatever currency base you prefer) was weaker outlook.   Ag

Helluva post right there.

[cypherdoc]

we are at levels of federal debt to GDP ratios never seen before.  we cleared 100% back in Q4 2012.  how long can we keep it together?

[cypherdoc]

oh, this is just great:

http://www.economist.com/news/united-states/21613272-police-missouri-suburb-demonstrate-how-not-quell-riot-overkill

[sidhujag]

in case you didn't catch my drift from yesterday's FOMC, the reason gold is tanking today and yesterday is rate hikes possibly on the horizon:

http://www.reuters.com/article/2014/08/21/us-usa-fed-george-idUSKBN0GL13I20140821

and then, you gotta wonder, why has the USD been rallying since 7/1?  it can't be that someone knew this was gonna happen, could it?

this is why one has to be a technical analyst.  shit starts happening on charts before the news ever comes out. 

ive been saying it since 2012 to start buying usd.. the 25 yr cycle was up and BRICS learned they got hosed by the deal they signed mid 80s

[cypherdoc]

500 looks like strong support

[cypherdoc]

gold and silver dropping, USD ramping, Bitcoin strengthening.

[cypherdoc]

oh shit moar!