Topic: Gold collapsing. Bitcoin UP. - page 1081. (Read 2032266 times)
Gold went back above $1300 and was spiking until the fed managed to get it back under control. You'll never see any stock acting the way gold does. After $3B+ of short selling over a couple of days, people are still buying. The reason investors buy gold is as a hedge against out of control inflation or because of conflict/war. Thus the vertical spikes followed by an urgent take down. BTC price is currently slightly sagging so investors' perception is not yet equivalent to digital gold.
Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.
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I'm pretty sure the IMF is just an extension of the Fed which is why Russia and China are so pissed off. Their funding is a little opaque but guaranteed most of it comes from printed dollars and euros. They're basically a bunch of thugs.
https://twitter.com/EdmundCMoy/status/489185805382868992
"Edmund Moy, 38th Director of the US Mint, just tweeted his first purchase of bitcoin"
Epic. It is catching on like...wild fire coming soon.
"Edmund Moy, 38th Director of the US Mint, just tweeted his first purchase of bitcoin"
Epic. It is catching on like...wild fire coming soon.
This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.
When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies
And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc.
In that case I'd say it will be Gold UP, Bitcoin WAY UP.
I agree with some what you posted.
I still believe the central banks will inflate to oblivion whether it be on paper or digitally. Revaluation can happen also after a hyperinflation weimar-style as well.
SDR's are no different than any other fiat so it really doesn't matter if it is them or the fed.
2 years in and OP is still active. 10/10 great inspirational story for generations to come.
actually, just to be accurate, this thread is an extension of this one from August 2011
:Gold: I Smell a Trap
most of the heavy academic debate occurred there between miscreanity and myself. What ever happened to that boy anyway?
2 years in and OP is still active. 10/10 great inspirational story for generations to come.
This thread is what is awesome. Just started catching up on it today. Thank you, cypherdoc!
My opinions are spreading like wildfire:
Technology has advanced to the point where we can use things like bitcoin instead of heavy, easy-to-steal physical commodities like gold.
http://www.bloombergview.com/articles/2014-07-16/gold-dreamers-face-harsh-reality
Technology has advanced to the point where we can use things like bitcoin instead of heavy, easy-to-steal physical commodities like gold.
http://www.bloombergview.com/articles/2014-07-16/gold-dreamers-face-harsh-reality
U.S Gov needs to stop shooting themselves in the feet
http://www.zerohedge.com/news/2014-07-16/putin-responds-us-sanctions-will-boomerang-and-cause-very-serious-damage
http://www.zerohedge.com/news/2014-07-16/putin-responds-us-sanctions-will-boomerang-and-cause-very-serious-damage
This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.
When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies
And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc.
In that case I'd say it will be Gold UP, Bitcoin WAY UP.
I doubt they'll get an sdr going. Especially given yesterday's announcement:
http://abcnews.go.com/Business/wireStory/emerging-nations-plan-world-bank-imf-24555957
China has been rebuffed for years from imf inclusion.
Exactly, the BRICS each just threw in $20 billion in spare cash to start their own international bank. Next time the US or Europe fucks up we will be begging them for loans. Soon enough, they will own all our debt and will start to be the ones to make the rules.
This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.
When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies
And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc.
In that case I'd say it will be Gold UP, Bitcoin WAY UP.
I doubt they'll get an sdr going. Especially given yesterday's announcement:
http://abcnews.go.com/Business/wireStory/emerging-nations-plan-world-bank-imf-24555957
China has been rebuffed for years from imf inclusion.
I predict this will push PayPal to accept Bitcoin as a matter of survival; or they just go out of business:
http://m.fastcompany.com/3033119/fast-feed/visa-launches-a-paypal-competitor?partner=rss&utm_content=buffer4a8a4&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
http://m.fastcompany.com/3033119/fast-feed/visa-launches-a-paypal-competitor?partner=rss&utm_content=buffer4a8a4&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Yeah, it can definitely cause them grief for online retailers who integrate this; the Visa integration is supposedly seamless and you don't have to leave the merchant's website to make payment. That's huge from a convenience standpoint.
I guess eBay.com will always have total control over the PayPal payment integration and give it priority...
I predict this will push PayPal to accept Bitcoin as a matter of survival; or they just go out of business:
http://m.fastcompany.com/3033119/fast-feed/visa-launches-a-paypal-competitor?partner=rss&utm_content=buffer4a8a4&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
http://m.fastcompany.com/3033119/fast-feed/visa-launches-a-paypal-competitor?partner=rss&utm_content=buffer4a8a4&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Well, there you have it:
This morning GHash.IO, a popular bitcoin mining pool, announced in a statement that in the future it will “not exceed more than 39.99% of the overall Bitcoin hashrate.”
http://techcrunch.com/2014/07/16/popular-bitcoin-mining-pool-promises-to-restrict-its-compute-power-to-prevent-feared-51-fiasco/
And its a well defined 40% warning well before 51%.
This morning GHash.IO, a popular bitcoin mining pool, announced in a statement that in the future it will “not exceed more than 39.99% of the overall Bitcoin hashrate.”
http://techcrunch.com/2014/07/16/popular-bitcoin-mining-pool-promises-to-restrict-its-compute-power-to-prevent-feared-51-fiasco/
And its a well defined 40% warning well before 51%.
This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's.
When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies
And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc.
In that case I'd say it will be Gold UP, Bitcoin WAY UP.
I sold some gold the other day, just little chain my mom had. I had to just to pay the bills. They gave me like 280€. Pretty fucking depressing that you are forced to sell things with sentiental value just to not be kicked out.
Sorry for that mate
Wonder if private addresses will start being engraved in jewelry so that we get more attached to them...
This is also precisely why you can never blame hodlers or deflation for not being able to buy bitcoin.
there's always someone willing to sell as we're witnessing.
One interesting point is that we know from Barry Silbert that there's ALOT of buying going on at second market offline because buyers don't want top move the market up while accumulating. That can only go on so long. Eventually they will have to enter the real market and pay up.
Once we start ramping, they will have to chase. That's always fun to watch.
there's always someone willing to sell as we're witnessing.
One interesting point is that we know from Barry Silbert that there's ALOT of buying going on at second market offline because buyers don't want top move the market up while accumulating. That can only go on so long. Eventually they will have to enter the real market and pay up.
Once we start ramping, they will have to chase. That's always fun to watch.
When buying or selling crypto in general it is always a smart move when accumulating or trying to ease your way out not to move the price in doing so.
I sold some gold the other day, just little chain my mom had. I had to just to pay the bills. They gave me like 280€. Pretty fucking depressing that you are forced to sell things with sentiental value just to not be kicked out.
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