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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2032123 times)
cypherdoc (OP)
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August 31, 2014, 03:57:43 AM
 #11401

this is actually a good sign for Bitcoin (Gold 2.0) advocates.  the gold resistance continues to be strong, angry, and defiant despite the wipeout.  

it's early innings.

You're basing all of this on the "wipeout"?  In other words, you're saying that gold is inferior because if you bought at X date and sold at Y date, you would have taken it in the pants?  Gold pot, meet Bitcoin kettle.  You're certifiably nuts ..

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i don't really see a problem, do you?

Ah the old "past performance predicts future performance" racket.

you have selective hearing.  i've advanced a number of fundamental reasons why many of us think Bitcoin is superior in it's function.  if you can refute those, please do so now.

while past performance doesn't guarantee future results, what better way is there for us to place our bets?  with sound fundamentals that i and many others have hammered home in this thread regarding Bitcoin's superiority, why expect a sudden change in trend?   just b/c you say so?  i should call you a name here but i won't stoop to your level.
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cypherdoc (OP)
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August 31, 2014, 04:05:23 AM
 #11402

ZH: "It's Settled: Central Banks Trade S&P500 Futures"

if it is indeed settled then it wouldn't be a huge shock. Your government dollars at work.

http://www.zerohedge.com/news/2014-08-30/its-settled-central-banks-trade-sp500-futures#comment-5163811

that's really f*d up.

i can't tell you how many times i've sat there watching realtime charts with a huge dump in the /ES futures only to be met with an instantaneous buy to jack the price back up to where it started.  sure, it could be an honest trader but given the low volumes, presence of a PPT, what's at stake, revelations of the NSA, and this article, i seriously doubt they're honest. 

furthermore, you can't short stocks anymore based on fundamentals.  i'm sure the Fed enjoys inflicting losses on honest shorts b/c they're "unpatriotic".
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August 31, 2014, 04:07:11 AM
 #11403

why don't you let him speak for himself?

cypher, this topic has been beaten to death.  To suggest that gold has absolutely no edge over cryptocurrencies, under any circumstances, demonstrates how desperate and puerile your position has become.  You are becoming less reasonable and more evangelical by the day, and it only serves to embarrass you and your cohorts.  Hard assets have a few thousand years of history as stores of value and currency.  Cryptocurrencies, around 6 years now?  The arrogance.  You fail to understand that any cryptocurrency is simply a securely shared ledger.  Cryptocurrencies solve a host of problems.  Hard assets solve other problems.  If there were no assets but Bitcoin, what would Bitcoin be worth?

Your arguments are analogous to saying that because information can be transmitted via the internet, there is no longer any need for physical objects to be transmitted from person to person.  Hell, even lumber has more "value" than Bitcoins in certain circumstances.  Get your head out of your ass.



It should be obvious that bitcoin is vastly superior to gold in nearly every typical "moneyness" category: scarcity, portability, recognizability, etc, etc. Where gold wins, is in a semi-stable civilization that has developed somewhat large-scale trade, but has no digital infrastructure. While it's possible that humanity reverts to such a state, it's unlikely, representing only a very thin slice of the long tail of possible outcomes. If you want to hedge for that particular outcome by holding gold, that's your "optimization" to make. I don't know your personal utility curve, after all.

Anyways, bitcoin replacing gold is an inherently optimistic viewpoint... And I'm not saying that as a bitcoin-bull; I'm saying that in the sense that it's optimistic to think that the rationally superior form of money will win due to bottom-up market forces. It would be very depressing if gold continues to be monetized for more than another couple decades in light of the vastly better money humanity has had since 2009.






Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Kayex
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August 31, 2014, 04:09:29 AM
 #11404

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

worldinacoin
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August 31, 2014, 04:13:19 AM
 #11405

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

With the Ukraine crisis escalating it will not be a surprise if Gold goes up, presently it is still high by historical standards.
falllling
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August 31, 2014, 05:07:48 AM
 #11406

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already
cypherdoc (OP)
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August 31, 2014, 05:10:53 AM
 #11407

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.
falllling
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August 31, 2014, 05:13:05 AM
 #11408

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.

i am just telling the truth
cypherdoc (OP)
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August 31, 2014, 05:14:53 AM
 #11409

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.

i am just telling the truth

Them tell us the truth about who is paying you. It won't hurt. It might give you some credibility.
falllling
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August 31, 2014, 05:16:24 AM
 #11410

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.

i am just telling the truth

Them tell us the truth about who is paying you. It won't hurt. It might give you some credibility.

will we break $490 quickly and get into $3xx?
cypherdoc (OP)
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August 31, 2014, 05:18:20 AM
 #11411

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.

i am just telling the truth

Them tell us the truth about who is paying you. It won't hurt. It might give you some credibility.

will we break $490 quickly and get into $3xx?

Is it a bank? A govt?
falllling
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August 31, 2014, 05:20:20 AM
 #11412

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.

i am just telling the truth

Them tell us the truth about who is paying you. It won't hurt. It might give you some credibility.

will we break $490 quickly and get into $3xx?

Is it a bank? A govt?

$497 buy wall got filled, $3xx incoming Smiley
cypherdoc (OP)
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August 31, 2014, 05:24:00 AM
 #11413

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.

i am just telling the truth

Them tell us the truth about who is paying you. It won't hurt. It might give you some credibility.

will we break $490 quickly and get into $3xx?

They can't be paying you much; for such a low life job.
falllling
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August 31, 2014, 05:28:58 AM
 #11414

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.

i am just telling the truth

Them tell us the truth about who is paying you. It won't hurt. It might give you some credibility.

will we break $490 quickly and get into $3xx?

They can't be paying you much; for such a low life job.

game over, bitcoin bubble burst, price is going back to 2013 where it came from, get ready for your $30 again Cheesy
cypherdoc (OP)
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August 31, 2014, 05:31:17 AM
 #11415

Right now people around me are saying that gold prices will be picking up.
I'm not sure if that will happen or not.

Even the price for BTC kind of went down now.
As you can see here
http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm2g25zv
The value of BTC is going down.
Is it because of the lack of demand of BTC?
Or is it because governments are now regulating BTC?

Either way BTC and Gold stocks are going down atm.
I'm not sure how to feel about this situation.

bitcoin is going to nowhere but down, you saw it already

Ah, he dares enter this thread.

You're an idiot.

i am just telling the truth

Them tell us the truth about who is paying you. It won't hurt. It might give you some credibility.

will we break $490 quickly and get into $3xx?

They can't be paying you much; for such a low life job.

game over, bitcoin bubble burst, price is going back to 2013 where it came from, get ready for your $30 again Cheesy

Lol. You know you're only worth about $5/h
Peter R
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August 31, 2014, 05:40:12 AM
 #11416

will we break $490 quickly and get into $3xx?
They can't be paying you much; for such a low life job.

Apparently the pay-scale depends on the class of troll.  Falllling is a low-grade trollus minimus and these are the most affordable to hire.  

A Taxonomy of the Troll

Class C bitcoin troll (lat. trollus minimus):

-How to recognize: Simple-minded FUD spreading, and juvenile insults.  

-Recommended response: ignore, their trolling is obvious to everyone and occasionally humorous.  

-Examples: falllllling, Chuckee, fonzie (in the earlier part of his career)

Class B bitcoin troll (lat.  trollus averagus)

-How to recognize: bait-and-switch thread titles and well-executed concern trolling; methods designed to fool the reader into thinking the troll is a non-troll.  

-Recommended response: agree with everything they say in a satirical way.  Their arguments are usually so flawed that simply rephrasing back what they said will reveal their lunacy.  This technique is especially effective if the troll doesn't recognize this attack vector until he's already sunken his ship.

-Examples: Nagle, JorgeStolfi, Edward50

Class A bitcoin troll (lat. trollus maximus)

-How to recognize: usually hold an esteemed position or a PhD.  

-Recommended response: Engage in logical and polite debate.  These are the most difficult trolls to defeat, so you must be patient.  The truth will prevail.  

-Examples: Mark Williams, Paul Krugman, Richard Murphy

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
NewLiberty
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August 31, 2014, 07:37:18 AM
 #11417

ZH: "It's Settled: Central Banks Trade S&P500 Futures"

if it is indeed settled then it wouldn't be a huge shock. Your government dollars at work.

http://www.zerohedge.com/news/2014-08-30/its-settled-central-banks-trade-sp500-futures#comment-5163811

Its not really a shock.  Its in the BASEL iii docs.  They are just surfacing some of the weird evidence of it when exchanges are treating them as a customer.

There are scarier parts, such as the provisions for determining what constitutes minority interests in securitized debt loans constituting the capitalization for the banks, central banks, and "global systemically important financial institutions".  The many loopholes for whether insolvent commercial and sovereign debt instruments be called, and the further secularization of those (which is essentially printing money).

There isn't a better license to steal than being a bank.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
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August 31, 2014, 09:09:06 AM
 #11418

I believe that the banks will not only want to but have to get into the game on Bitcoin
and other crypto-currencies... it’s just a question of time
TheVoice
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August 31, 2014, 09:45:31 AM
 #11419

They will rather try to create their own crypto-currencies. Lack of control over bitcoin is a problem to them
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August 31, 2014, 10:30:52 AM
 #11420

They will rather try to create their own crypto-currencies. Lack of control over bitcoin is a problem to them

Yes and yes.

But will these bank-crypto-coins gain traction (value)? Bitcoin is peoples money and I think it will be able to attract way more trust than those bank-coins.

Side-note: even if they are technically superior (eth?), they will have a hard time.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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