Topic: Gold collapsing. Bitcoin UP. - page 1129. (Read 2032266 times)

You are right, he has tempered his initial position. But isn't it a little bitchy to say that Wall Street is what will ensure Bitcoin survival?

I smell resentment.

and you wonder why:

bigger and bigger players are getting out of the gold space and into Bitcoin:

http://www.coindesk.com/2-million-bitcoin-yukon-gold-mine/

when shopping for your ton of gold, be careful about such ghanian scams:
http://www.zerohedge.com/news/2014-06-06/one-ton-gold-shipment-hong-kong-revealed-contain-just-worthless-metal
-especially if you pay in btc

The guy always reminded me of Gavin somehow (in appearance.)


I've never had any doubt that bitcoin was HIGHLY manipulated ever since the first markets developed.  It's a tiny market which is almost completely unregulated, and the participants are as unscrupulous as any.  Not only that, but the 'masses' tend toward being ideologically driven and general 'newbies' with respect to market mechanics.  To add fuel to the fire, a 'rising tide floats all boats' so many of the participants developed an unwarranted view of their own trading prowess.  In short, they are fat hens for a plucking.

I don't trade and don't expect to.  I do, however, try to capitalize on trends.  It matters not to me whether the various dips and spikes are a result of manipulation.  If that's what it takes to create a spike when I want to divest, it's welcome to me.

I've always expected high-frequency trading to be, among other things (like front-running) a means of balancing books which would not otherwise balance.  Much like a juggler can handle 8 items with two hands by keeping some of them in a transitional phase.  In that respect it could cause some 'inflation' in whatever item is being traded.  But 'what goes up must come down' as they say, and I always expect to have some powder dry for a 'deflationary' event.  So, HFT in Bitcoin?  Bring it on!

Lol, all this time I thought that was Mish.  

I disagree that he's a bitcoin basher.  At worst he's agnostic towards it, but his recent writing from 2014 tells me that he is warming up to the idea.  In this March 2014 post, he proclaims that bitcoin is here to stay (i.e., that it's not a passing fad):

http://globaleconomicanalysis.blogspot.ca/2014/03/high-frequency-bitcoin-trading-coming.html

Houston, ready for launch:

Indeed we are over-secured. And I like it!

Fiat still flowing into Bitcoin:

http://bitcoincharts.com/charts/bitstampUSD#rg1460zigDailyztgSzm1g10zm2g25zxzi1gAccDistzi2gMomentumzv

I could believe that I would hedge 10% of my Bitcoin fortunes to gold in the next 10x upmove. For every BTC10k it'd mean the sale of BTC1k, multiplied by about $5000...

For $5M you get 125 kg of gold.

Certainly there are people who own a tonne of gold (1/180,000 of the gold stock) but they are fewer in number. It is much easier to buy 1/180,000 of all BTC, since that can be done by investing a manageable $44k...

How much gold is that? Does anyone realistically own that much? I was told filling up a 2L bottle with gold dust would make it weigh 40kg.

edit:

I understand that in terms of portability it'll never beat crypto.

I've just realized that the guy looks like mish - coincidentally an unrepentant goldbug (and Bitcoin basher).

So instead of 0...more like ~20.

quite a few banker suicides as well.

Worker death should be atleast 1
http://nypost.com/2014/03/06/bitcoin-firm-ceo-jumped-to-her-death-neighbor/

This ^

is what happened back in August 2013 ....hashrate lead price....and ended up pulling the price up with it a matter of months later. Same cycle is happening here.

http://www.scribd.com/doc/228253109/The-Relative-Sustainability-of-the-Bitcoin-Network-by-Hass-McCook

Where did you get this? I see the twitter post but no reference of where it came from.

The fundamentals have not changed: HODL!

Bitcoin ATMs + ETF (easy ways in) + ongoing merchant adoption + fiat debacle --> bitcoin tornado!


RIP RIP(PLE)    Sorry!