cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 12, 2014, 08:22:35 PM |
|
moving UP.
|
|
|
|
Blazin604
|
|
October 12, 2014, 08:36:00 PM |
|
Do you have any target on gold/silver cypherdoc ? I have to admit that i didn't believe you back in July, even if a correction clearly made sense. Now the real question is where the bottom will be... We're not there yet, i do think PM will go down with stocks, and the correction in stocks should happen (soon ?).
Gaud, the last thing i want to do is create another massive thread like the "Gold-I smell a trap" one over in Economics that went on for 5 months. it was just too much work. most ppl here into gold/silver won't like what i have to say so don't bother reading further. my views haven't changed. i think gold/silver is a relic of the past and Bitcoin will assume its place as a new standard. i think gold drops to $400. i think that we are about to embark on a massive debt deleveraging phase which will be deflationary and take stocks down with it to test the March 09 lows at least. we may drift a few more days higher in the Dow before it rolls over. i see divergences everywhere but especially with the Transports, Russell, and ALL commodities like oil, natural gas, wheat, corn, rice, soybeans, copper and gold/silver. the silver chart especially is busted. the general mining stocks are telegraphing hard times ahead like FCX, TCK, BHP. the junior miners have been devastated as in GDXJ. GDX is following it down. there's a good chance Wall St and the Fed are desperately trying to manipulate the Dow higher to get retail investors back in but don't buy it. once we roll they will sell/short you into oblivion. the Vix did an underthrow today once again to try and create complacency. i'm going to try and not say much more as i could be wrong and i know the gold bugs are going to start swarming with the hate. Bitcoin will replace gold in the next 10 years. Right now we are seeing a slow rise to 400. We should hit that by 10/20/14 and from there the price will slowly increase back to its ATH and possibly surpass it before the year ends. Hop on while you can everyone.
|
|
|
|
lebing
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
|
|
October 12, 2014, 08:40:21 PM |
|
Cypher you still see gold going down medium term? My cover finger is getting itchy.
|
Bro, do you even blockchain? -E Voorhees
|
|
|
Melbustus
Legendary
Offline
Activity: 1722
Merit: 1004
|
|
October 12, 2014, 08:43:26 PM |
|
I wasn't aware of any of that. Bitcoin price the day he said that: $205. Bitcoin price 30 days after he said that: $1100. ^ What timing! Bitcoin price change between then and right now, nearly a year later: +81%. S&P change over same period: +7.5%. Gold change over same period: -7.8%
|
Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 12, 2014, 09:33:16 PM |
|
Cypher you still see gold going down medium term? My cover finger is getting itchy.
you should've covered when i did : just sold off my DZZ & ZSL. flat now, as i'm expecting a short term bounce.
there's some question as to when the daily short term bottom occurred; 9/22 or 10/6. i'm leaning to the latter which would be confirmed if we get over the 9/23 high: nevertheless, we're into the time interval where a weekly/interm bottom should occur. mind you, we could get another punchdown more into the middle of the band. but on balance, if the weekly bottom is indeed in, we could go significantly higher. which is why i covered on 9/30: i'm going to be looking to reinstitute my shorts, but not now.
|
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 12, 2014, 10:04:07 PM |
|
shorts starting to capitulate:
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 12, 2014, 10:37:01 PM |
|
so, to keep the bear mkt in gold going, price shouldn't rise any higher than 1346.8:
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 13, 2014, 01:11:46 AM |
|
this doesn't look so good. 3y daily Rut. note how we've slid down the mountain into no man's land with no real support until all the way down thar to the 2nd red line:
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 13, 2014, 01:58:11 AM |
|
goldbugs: "oh shit". “Decrease in prices should ideally prompt people to buy more gold. Those looking to invest in bitcoins at this time are defying the trend,” said Sivakameshwar Rao, CEO and MD of BTCX India. Mr. Rao said investors in Vijayawada, Visakhapatnam and Nellore are leading the pack. He said that while Bitcoin is yet to be adopted in a big way in India, the developments this year have been positive.
Adds G. Gurumohan Reddy, who too has been buying and selling bitcoins for about six months now, “We expect gold prices to go down further. So investing in gold is not an option. Bitcoins have the potential to appreciate in the present time. Besides, storage of gold is risky. Bitcoin is digital with a small storage risk,” he explained. http://www.thehindu.com/news/cities/Hyderabad/bitcoin-giving-gold-the-nudge/article6494031.ece?ref=sliderNews
|
|
|
|
cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
|
|
October 13, 2014, 02:10:32 AM |
|
I wasn't aware of any of that. It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.
|
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
|
|
|
vuduchyld
|
|
October 13, 2014, 02:38:02 AM |
|
It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer.
Sounds like BCX re: XMR
|
|
|
|
cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
|
|
October 13, 2014, 02:38:05 AM |
|
I wasn't aware of any of that. It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer. his arguments are riddled in contradictions. i got him to say he will release his exploit code on Nov 4 in private pm's today, one year after his paper was published. then, he can stop publicly stop speaking about it, as i am sure it will amount to nothing.
|
|
|
|
rocks
Legendary
Offline
Activity: 1153
Merit: 1000
|
|
October 13, 2014, 05:21:39 AM Last edit: October 13, 2014, 05:39:17 AM by rocks |
|
I wasn't aware of any of that. It sounds like a "One Weird Trick" claim. If nobody else has discovered this "flaw" a year later, then it doesn't exist and he is a scammer. his arguments are riddled in contradictions. i got him to say he will release his exploit code on Nov 4 in private pm's today, one year after his paper was published. then, he can stop publicly stop speaking about it, as i am sure it will amount to nothing. There really isn't much here. Their work focuses on a selfish miner attack, where a miner holds back on sending found blocks to keep others working on a stale chain. They then state that such miners will win more than their fair share of block rewards until they become the majority. (which itself is doubtful) The problem with this is it assumes a selfish miner can get the rest of the network to accept their block that they withheld, but only released after they themselves received another's new honest block. There are lots of problems with this. I remember a year ago when articles first published these claims that many people pointed out these problems in the comments section. They responsed to these comments by essentially saying "we're right you're wrong", but never actually addressing the implementation problems people raised. Here was one of their "response" Q&A pages they later wrote. The level of discourse was lacking IMHO. http://hackingdistributed.com/2013/11/05/faq-selfish-mining/Notice this key issue many raise has no answer for some reason "This attack requires an attacker have good network position to get its blocks accepted."
|
|
|
|
Melbustus
Legendary
Offline
Activity: 1722
Merit: 1004
|
|
October 13, 2014, 08:01:53 AM |
|
|
Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
|
|
|
brg444
|
|
October 13, 2014, 08:06:25 AM |
|
interesting insights, thanks for the link
|
"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
|
|
|
shields
|
|
October 13, 2014, 08:57:33 AM |
|
interesting insights, thanks for the link Greed is Bitcoins killer app. Incentivising early adoption and evangelizing by early adopters bootstraps it and provides the necessary marketing.
|
If you liked this post -> 1KRYhandiYsjecZw7mtdLnoeuKUYoGRkH4
|
|
|
600watt
Legendary
Offline
Activity: 2338
Merit: 2106
|
|
October 13, 2014, 09:34:10 AM |
|
interesting insights, thanks for the link Greed is Bitcoins killer app. Incentivising early adoption and evangelizing by early adopters bootstraps it and provides the necessary marketing. yep, and this forum is one of the marketing centers. the rumor is out that one doubles up for every 1000 bullish posts...
|
|
|
|
|
NewLiberty
Legendary
Offline
Activity: 1204
Merit: 1002
Gresham's Lawyer
|
|
October 13, 2014, 10:02:05 AM |
|
Due to cherry picking graph start and end points you fail to make your point here. Be less arbitrary in your favor. This is not how science is done.
|
|
|
|
|