Gold collapsing. Bitcoin UP. - page 1151.

impulse

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Quote from: Melbustus on May 22, 2014, 01:22:07 AM

Isn't he now saying there's value in the transfer tech, but not the currency?

Here's the progression of all the gold-bug bitcoin naysayers:

1) 2011: "Bitcoin is a silly nerd fad that'll be dead in a month or two."
2) 2012: "Bitcoin has no intrinsic value."
3) 2013: "The government will never let bitcoin survive."
4) 2014: "Bitcoin as a payments technology has value, but the currency won't have lasting value."

Hasn't Peter been saying #4 a bunch lately? Funny - this current trend of former total naysayers talking about how the network/tech has lasting value but the currency doesn't is really dumb. They're so obviously trying to save a little face by giving some grudging kudos to bitcoin, but can't fully admit how wrong they are/were.

I can't wait 'till we get over the false notion that the network/currency-unit are completely distinct and these guys accept the entangled (and valuable) nature of the whole beast.

Edit: Boom. $500 taken out on Bitstamp as I was typing.

For some reason they still don't understand exactly why the bitcoin token cannot be separated from the Bitcoin network. I think they believe that there is a way in which to make them separate entities, thus removing value from the token, but they are misinformed.

marcus_of_augustus

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Eadem mutata resurgo

Gold up, bitcoin up ... don't let it blow all your minds all at once.

El Cabron

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Quote from: smoothie on May 22, 2014, 05:05:44 AM

Quote from: El Cabron on May 08, 2014, 08:44:51 PM

Quote from: johnmatrix on May 08, 2014, 06:20:18 PM

Gold obvously doesnt have such big dips like bitcoin but in the long run bitcoin will win

I agree with this as well, but there is no point in saying gold is down and btc is up when clearly that is not the case.

I have been trading gold/silver since 2002 and btc since 2010. the thing i noticed in that time is that some times it is good to use btc to buy gold, and some times to use gold to buy btc.

btc does not always go up and gold does not always go down. to say that it does every week, esp in 2014 is just Huh

well i dont know what it is. i 100% do not understand why it is being done. anyone with access to a 6 month chart of both btc and gold will know that it is just not true.

Trading BTC since 2010? Proof? Lol

Lol, Smoothie you troll. I guess the 100% correct way to put it would be "HODLing since 2010" I was not actively trading in 2010, just stacking. Wink

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: El Cabron on May 08, 2014, 08:44:51 PM

Quote from: johnmatrix on May 08, 2014, 06:20:18 PM

Gold obvously doesnt have such big dips like bitcoin but in the long run bitcoin will win

I agree with this as well, but there is no point in saying gold is down and btc is up when clearly that is not the case.

I have been trading gold/silver since 2002 and btc since 2010. the thing i noticed in that time is that some times it is good to use btc to buy gold, and some times to use gold to buy btc.

btc does not always go up and gold does not always go down. to say that it does every week, esp in 2014 is just Huh

well i dont know what it is. i 100% do not understand why it is being done. anyone with access to a 6 month chart of both btc and gold will know that it is just not true.

Trading BTC since 2010? Proof? Lol

Pruden

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Spanish Bitcoin trader

Quote from: cypherdoc on May 21, 2014, 02:17:35 PM

remember this?

well, Harvard's Ken Rogoff appears to favor that idea:

http://cryptocrimson.com/2014/05/harvard-economics-professor-makes-case-bitcoin/

i don't quite understand fully the above paragraph as he appears to say that he wants to force ppl to spend by utilizing negative interest rates but yet he says Bitcoin will allow a safe haven to avoid just that.

Of course it's impossible to understand. Remember that poorly-written Excel? That affaire surfaced several very relevant manipulative decisions he and his friend Reinhardt made when analyzing the data, that completely biased their results. The bias was strongly in favour of their thesis, but I'm sure that was pure chance.

That any journalist pays him attention after that shows the state of journalism and, in this particular case, of Bitcoin fanatics. He is warning of complete control of everyone's transactions through the blockchain and a crypto site considers that "making a case for Bitcoin." Huh

Melbustus

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Quote from: cypherdoc on May 21, 2014, 04:51:18 PM

Quote from: World on May 21, 2014, 04:38:45 PM

positive news Grin

http://www.coinbuzz.com/2014/05/21/peter-schiffs-euro-pacific-metals-now-accepts-bitcoins/
nice logo Grin

http://www.europacmetals.com

Yeah I've been posting on this on reddit all day.

My bet is he's had an epiphany and is accumulating near a price bottom trying to not attract attention.

Lol. More people getting out Goat.

Isn't he now saying there's value in the transfer tech, but not the currency?

Here's the progression of all the gold-bug bitcoin naysayers:

1) 2011: "Bitcoin is a silly nerd fad that'll be dead in a month or two."
2) 2012: "Bitcoin has no intrinsic value."
3) 2013: "The government will never let bitcoin survive."
4) 2014: "Bitcoin as a payments technology has value, but the currency won't have lasting value."

Hasn't Peter been saying #4 a bunch lately? Funny - this current trend of former total naysayers talking about how the network/tech has lasting value but the currency doesn't is really dumb. They're so obviously trying to save a little face by giving some grudging kudos to bitcoin, but can't fully admit how wrong they are/were.

I can't wait 'till we get over the false notion that the network/currency-unit are completely distinct and these guys accept the entangled (and valuable) nature of the whole beast.

Edit: Boom. $500 taken out on Bitstamp as I was typing.

thezerg

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Quote from: El Cabron on May 20, 2014, 09:28:00 PM

Quote from: thezerg on May 20, 2014, 09:20:24 PM

There really is no comparison between creating diamonds and creating gold. The former is perfecting a chemical process the latter is nuclear.

Here is my reply in the "Can both Bitcoin and Gold Survive?" thread on the other forum.

Quote from: markm on February 02, 2011, 04:40:40 PM

Im 85 percent crypto and 10 percent PMs. So im bullish (crypto) now.

but gold is here to stay until we can get enough energy to make lead into gold.

Gold will be around for a while

Yes I completely agree. At some point you need to diversify for quality sleep.
I'm happy with having some PMs and seeing them trickle back down to 300 per ounce (or whatever) over the next decade, although I don't think that that will happen.

Its funny, I originally bought BTC with that same reasoning (diversify away from the dollar).

leopard2

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Quote from: wachtwoord on May 21, 2014, 02:48:35 PM

Quote from: cypherdoc on May 21, 2014, 02:17:35 PM

remember this?

Quote from: cypherdoc on May 15, 2014, 01:33:33 PM

negative interest rates coming right up:

bottom line: negative interest rates could become a distinct reality. keep buying.

And the patient just died.

hehe, just what I thought when I saw that. it's a flatliner isn't it? Cheesy

no worries though, a little world war or a currency reform, USD 2.0 and the Kondratieff cycle will start again. And then, after every fiat holder got fleeced the hard way, crypto will gain purchase power beyond imagination.

wachtwoord

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Quote from: cypherdoc on May 21, 2014, 04:51:18 PM

Quote from: World on May 21, 2014, 04:38:45 PM

positive news Grin

http://www.coinbuzz.com/2014/05/21/peter-schiffs-euro-pacific-metals-now-accepts-bitcoins/
nice logo Grin

http://www.europacmetals.com

Yeah I've been posting on this on reddit all day.

My bet is he's had an epiphany and is accumulating near a price bottom trying to not attract attention.

Lol. More people getting out Goat.

Nah, he also takes gold for Bitcoins (I've seen a post about that). He's just earning money on the spread.

cypherdoc

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Quote from: World on May 21, 2014, 04:38:45 PM

positive news Grin

http://www.coinbuzz.com/2014/05/21/peter-schiffs-euro-pacific-metals-now-accepts-bitcoins/
nice logo Grin

http://www.europacmetals.com

Yeah I've been posting on this on reddit all day.

My bet is he's had an epiphany and is accumulating near a price bottom trying to not attract attention.

Lol. More people getting out Goat.

World

hero member

Activity: 743

Merit: 500

positive news Grin

http://www.coinbuzz.com/2014/05/21/peter-schiffs-euro-pacific-metals-now-accepts-bitcoins/
nice logo Grin

http://www.europacmetals.com

wachtwoord

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Quote from: cypherdoc on May 21, 2014, 02:17:35 PM

remember this?

Quote from: cypherdoc on May 15, 2014, 01:33:33 PM

negative interest rates coming right up:

bottom line: negative interest rates could become a distinct reality. keep buying.

And the patient just died.

knightcoin

full member

Activity: 238

Merit: 100

Stand on the shoulders of giants

Quote from: ranlo on May 20, 2014, 03:25:17 PM

Quote from: bitcoinsrus on May 20, 2014, 12:42:18 PM

Quote from: thezerg on May 20, 2014, 12:39:41 PM

Quote from: wachtwoord on May 20, 2014, 11:25:44 AM

Yes he also holds more Lambo's than me.

I notice that you didn't say "more Lambo than my net worth" so you must not be doing too badly

Check out my lambo....1/10th the price and the manufacturer said its made somewhere in Taiwan so I guess its imported Grin

I love your lego lambo! I want one too. I'll love you forever if you buy me one,

.

lego lambo is for dogecoin users Grin

cypherdoc

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remember this?

Quote from: cypherdoc on May 15, 2014, 01:33:33 PM

negative interest rates coming right up:

well, Harvard's Ken Rogoff appears to favor that idea:

http://cryptocrimson.com/2014/05/harvard-economics-professor-makes-case-bitcoin/

"Rogoff makes the compelling case that as the Federal Reserve’s efforts to stimulate the economy have been abysmal at best, and as the U.S. central bank has already slashed interest rates as low as zero percent, the only way in which they can go lower according the the professor, is if the U.S. would adopt some form of digital currency. Essentially, it is his belief that if rates were to dip below zero, which is possible, instead of you paying to take out a loan, banks would pay you to take out a loan.

As crazy as the idea sounds, and given the fact that those banking on earning interest from their savings accounts would be out of luck, Rogoff explains that this is unlikely with a cash economy because would then force consumers to spend, rather than save. His point is; however, the same point that the Fed makes, which is that in order to stimulate the economy, consumers need to spend. Despite the unlikely scenario of which would force consumers to spend instead of save, given negative interest rates, Rogoff says that this is where digital currency comes in.

The professor says that if there was no physical money, the unfavorable scenario would be avoided in the case in which negative interest rates exist; this is due to the fact that as digital currencies such as bitcoin do not need to be stored in traditional banks, consumers therefor would not be forced to spend it. In fact, rather than becoming less valuable, digital currencies such as bitcoin, which are deflationary in nature, would actually become more valuable with time.

According to Rogoff, another plus for digital currency is that it could actually increase tax revenue, based on the notion that without cash, the government could finally track transactions, elimination the potential for tax evasion. While critics of digital currencies like bitcoin say it promotes misuse and illegal conduct, Rogoff says that it has the potential to do just the opposite, meaning that with increased tracking, illicit operations would no longer be possible."

i'd love to read the original paper if anyone has access to it. i don't quite understand fully the above paragraph as he appears to say that he wants to force ppl to spend by utilizing negative interest rates but yet he says Bitcoin will allow a safe haven to avoid just that.

the part i like though is where he says Bitcoin will become more valuable with time if negative interest rates are imposed along with a push to digital money becomes a reality.

bottom line: negative interest rates could become a distinct reality. keep buying.

cypherdoc

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Quote from: El Cabron on May 20, 2014, 10:37:05 PM

Quote from: Melbustus on May 20, 2014, 09:36:08 PM

Quote from: El Cabron on May 20, 2014, 08:55:28 PM

...

I have more LTC than gold, silver and every other metal combined.

Now that's nuts. I don't like the multi-decade outlook for PMs, but I don't like the multi-*year* outlook for litecoin. There are no prizes for being 2nd in this race, especially if you offer nothing technically over #1.

But I'm not a trader, so if you have some market-momentum argument, that's fine.

I agree and I am slowly moving some LTC into BTC (and some metals) but my point of making that public was to show people just how bullish I am on crypto. Just cuz I hold gold does not mean I don't like crypto.

Also I do have some LTC cuz if BTC breaks or forks LTC is our best shot. However BTC is looking stronger every day.

yeah sure, your positions always magically change once we appear to be making a definitive turn in direction of the price, like over the last 2 days. prior to that, you were bad mouthing crypto and pushing metals heavily.

not only that, you like to rewrite history, like that time several months ago when you claimed you were selling metals back in 2011. no you weren't. b/c for someone who so often likes to comment about how right they were, you would've been all over this thread back then announcing that fact as this thread was front and center. instead we only hear about it a few months ago. Roll Eyes

El Cabron

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Quote from: Melbustus on May 20, 2014, 09:36:08 PM

Quote from: El Cabron on May 20, 2014, 08:55:28 PM

...

I have more LTC than gold, silver and every other metal combined.

Now that's nuts. I don't like the multi-decade outlook for PMs, but I don't like the multi-*year* outlook for litecoin. There are no prizes for being 2nd in this race, especially if you offer nothing technically over #1.

But I'm not a trader, so if you have some market-momentum argument, that's fine.

I agree and I am slowly moving some LTC into BTC (and some metals) but my point of making that public was to show people just how bullish I am on crypto. Just cuz I hold gold does not mean I don't like crypto.

Also I do have some LTC cuz if BTC breaks or forks LTC is our best shot. However BTC is looking stronger every day.

Melbustus

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Quote from: El Cabron on May 20, 2014, 08:55:28 PM

...

I have more LTC than gold, silver and every other metal combined.

Now that's nuts. I don't like the multi-decade outlook for PMs, but I don't like the multi-*year* outlook for litecoin. There are no prizes for being 2nd in this race, especially if you offer nothing technically over #1.

But I'm not a trader, so if you have some market-momentum argument, that's fine.

El Cabron

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Quote from: thezerg on May 20, 2014, 09:20:24 PM

There really is no comparison between creating diamonds and creating gold. The former is perfecting a chemical process the latter is nuclear.

Here is my reply in the "Can both Bitcoin and Gold Survive?" thread on the other forum.

Quote from: markm on February 02, 2011, 04:40:40 PM

Im 85 percent crypto and 10 percent PMs. So im bullish (crypto) now.

but gold is here to stay until we can get enough energy to make lead into gold.

Gold will be around for a while

thezerg

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There really is no comparison between creating diamonds and creating gold. The former is perfecting a chemical process the latter is nuclear.

dree12

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Quote from: El Cabron on May 20, 2014, 08:55:28 PM

Quote from: cypherdoc on May 20, 2014, 11:18:50 AM

Quote from: wachtwoord on May 20, 2014, 11:16:19 AM

Quote from: cypherdoc on May 20, 2014, 11:13:40 AM

Quote from: wachtwoord on May 20, 2014, 10:45:05 AM

Quote from: cypherdoc on May 20, 2014, 10:27:08 AM

Quote from: El Cabron on May 20, 2014, 10:07:37 AM

we are now down 40 cents for the last 30 days! panic!

Goat

you're better off selling your gold and silver now and switching to Bitcoin.

I think Goat is in what's also known as a "win-win situation"

what you really mean is that just b/c he said this...:

Quote from: El Cabron on May 15, 2014, 08:30:19 PM

Sure gold could lose 70% of it's value before then, but fiat is dead....

...he can claim he was right no matter what happens.

par for his course.

Nah, I say it because he holds more gold than my net worth, more land than my net worth, more silver than my net wort, more Bitcoin than my net worth and likely more Litecoin than my net worth.

probably, but you never know.

he does have a Lambo! Wink

I have more LTC than gold, silver and every other metal combined. I'm about 85% crypto and very bullish on it.

My point was gold is not exactly collapsing but if that is just troll bait then I failed hardcore, lol. But it is in the title of the thread and he does say that it is collapsing about every other day so it is a pretty effective troll. Gold is not going to die soon, BTC however just might get forked or have a bug and die off any second. Gold is something I hope ever have to sell or use but it is mostly like insurance. No way I'm going with out beer money!

Artificial diamonds are practically cheaper and better than the real deal now. How long until artificial gold?

Even if that will take a while, there are hypotheses that moons and planets in our solar system may contain gold. How long until those are extracted?

Topic: Gold collapsing. Bitcoin UP. - page 1151. (Read 2032266 times)