Gold collapsing. Bitcoin UP. - page 1164.

cypherdoc

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Quote from: Erdogan on April 04, 2014, 02:40:51 AM

If you have a claim on gold, where the gold is reserved for you and in store, like what you have if you store your gold with Euro Pacific Bank, the arrangement will not change the gold volume.

But we have also claims on gold, where there is no gold backing. When you claim it, you get either the gold or the same value in fiat at the going rate. This represent gold credit, and it increases the volume of gold plus gold credit.

So if you count the gold credit as the gold plus credit supply, we have gold plus credit inflation. Which lead to price inflation measured in gold, which is the same as gold price goes downward.

i've argued this for years.

Erdogan

legendary

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If you have a claim on gold, where the gold is reserved for you and in store, like what you have if you store your gold with Euro Pacific Bank, the arrangement will not change the gold volume.

But we have also claims on gold, where there is no gold backing. When you claim it, you get either the gold or the same value in fiat at the going rate. This represent gold credit, and it increases the volume of gold plus gold credit.

So if you count the gold credit as the gold plus credit supply, we have gold plus credit inflation. Which lead to price inflation measured in gold, which is the same as gold price goes downward.

molecular

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Quote from: cypherdoc on April 03, 2014, 10:05:43 AM

Quote from: molecular on March 27, 2014, 01:53:08 PM

Quote from: TeeBone on March 27, 2014, 01:50:30 PM

Both heading DOWNTOWN. 400's baby, bring it. 300's next.

Don't get too excited. $400 is in the cards, yes. But 300...? I don't think.

hey molecular,

was that your Trezor on the PIN entry video? was that you talking? Wink

yes. Guilty of owning a trezor and being able to count to 4. Wink

cypherdoc

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let's go.

cypherdoc

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Quote from: molecular on March 27, 2014, 01:53:08 PM

Quote from: TeeBone on March 27, 2014, 01:50:30 PM

Both heading DOWNTOWN. 400's baby, bring it. 300's next.

Don't get too excited. $400 is in the cards, yes. But 300...? I don't think.

hey molecular,

was that your Trezor on the PIN entry video? was that you talking? Wink

sidhujag

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Its all about incentives.. us gov fucked up... trying to kill btc
by taxing this early.. it creates incentive to hodl and spend in btc instead of coming back to played out fiat.

miscreanity

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Quote from: tvbcof on March 31, 2014, 06:17:40 PM

Quote from: cypherdoc on March 31, 2014, 01:10:59 PM

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/

Ha! Matonis could have taken almost the entire contents of this story from any of 100's of posts I've been spewing ad-nauseam for the last few years. I hope his writings get some traction and get people thinking about all of the problems it would solve to focus on this use-case...if it's not already to late.

Indeed, give credit where due. We're all in this together.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: cypherdoc on March 31, 2014, 01:10:59 PM

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/

Yup. The IRS ruling merely crystallises in many foggy minds what many of us have known all along. Unfortunately, a lot of VC's and USA based money seems to have already been thrown at making a Bitcoin branch that looks and feels like something the US authoritarian regulators might like ... and ended up with Pay-Pal2.0 ... oops. They need to raise their sights and take a look at the real high ground before they waste any more of their powder on those stinking trenches filled with the unfortunate US patriots.

Bitcoin technology is better suited to settlement/clearing and medium/long term International irreversible, censorship-resistant exchange of value. However, it does also pave the way for crypto-financial layers to be built on top that can deal with jurisdictional risk and instantaneous payments and etc, on a case by case basis.

Adrian-x

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Quote from: tvbcof on March 31, 2014, 06:17:40 PM

Quote from: cypherdoc on March 31, 2014, 01:10:59 PM

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/

Ha! Matonis could have taken almost the entire contents of this story from any of 100's of posts I've been spewing ad-nauseam for the last few years. I hope his writings get some traction and get people thinking about all of the problems it would solve to focus on this use-case...if it's not already to late.

"to late"

The Crypto P2P FED infrastructure is being tried at the moment, "us" the speculators are being tested if we can effectively manage the XBT money supply 24/7 across space and time with limited information in the face of adversity and FUD. I think its going well considering all the noobs we picked up after we saw $400 the first time, noobs being those who haven't figured out sell high and buy low.

tvbcof

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Quote from: cypherdoc on March 31, 2014, 01:10:59 PM

ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/

Ha! Matonis could have taken almost the entire contents of this story from any of 100's of posts I've been spewing ad-nauseam for the last few years. I hope his writings get some traction and get people thinking about all of the problems it would solve to focus on this use-case...if it's not already to late.

cypherdoc

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ppl are starting to talk of Bitcoin as a reserve currency as i had envisioned:

http://www.coindesk.com/irs-bitcoin-ruling-may-bright-side/

sidhujag

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Quote from: miscreanity on March 30, 2014, 01:23:12 PM

Quote from: molecular on March 27, 2014, 01:53:08 PM

Quote from: TeeBone on March 27, 2014, 01:50:30 PM

Both heading DOWNTOWN. 400's baby, bring it. 300's next.

Don't get too excited. $400 is in the cards, yes. But 300...? I don't think.

Big rises have yet to backfill. In order for the $1000+ high to fill, it would have to drop below $300, possibly as low as ~$160 before the trend reverses.

Of course growth rates may be enough to keep that from happening. If the ~$400-430 range holds through the supposed China deadline and the big investments start drawing in new usage, we could easily be headed back to the moon.

In short, April is going to be a pivotal month for Bitcoin (and gold, silver, bonds, nearly everything else). I think if a collapse doesn't happen here, we'll know whether Bitcoin will truly thrive by late 3rd to 4th quarter this year.

Volume is high according to current supply so my formula is supply*10.. aslong as we have 28k volume btc a day we should be going up until its not.

miscreanity

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Quote from: molecular on March 27, 2014, 01:53:08 PM

Quote from: TeeBone on March 27, 2014, 01:50:30 PM

Both heading DOWNTOWN. 400's baby, bring it. 300's next.

Don't get too excited. $400 is in the cards, yes. But 300...? I don't think.

Big rises have yet to backfill. In order for the $1000+ high to fill, it would have to drop below $300, possibly as low as ~$160 before the trend reverses.

Of course growth rates may be enough to keep that from happening. If the ~$400-430 range holds through the supposed China deadline and the big investments start drawing in new usage, we could easily be headed back to the moon.

In short, April is going to be a pivotal month for Bitcoin (and gold, silver, bonds, nearly everything else). I think if a collapse doesn't happen here, we'll know whether Bitcoin will truly thrive by late 3rd to 4th quarter this year.

Dusty

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Libertas a calumnia

Quote from: tvbcof on March 26, 2014, 01:03:28 PM

The trouble is that Bitcoin only works for most people when they guess right and entrust it to someone who doesn't happen to be a crook. When they try to secure their ownership themselves it often turns into an unmitigated disaster. The problem is more associated with computer (and device) security than it is with Bitcoin itself, but it's not probably going to get any better as time goes by. Probably it will get worse in fact.

Actually that trend is reversing, just take a look at new generation wallets like https://greenaddress.it/

You have the convenience and ease of use of an online wallet but without any drawback since using a 2of2 signature the owner of the site can't run away with your funds.

For the same technological choice you are safe even if a trojan compromises your pc or your phone.

If they disappear your funds are safe using pre-signed transactions with nLockTime.

The backup is simple and one-time (using BIP32 HD wallets).

That considerably raises the bar for security relatively to all the others, but for unknown reasons (maybe polical ones?) greenaddress it's not even listed on the main bitcoin.org site.

TeeBone

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Quote from: molecular on March 27, 2014, 01:53:08 PM

Quote from: TeeBone on March 27, 2014, 01:50:30 PM

Both heading DOWNTOWN. 400's baby, bring it. 300's next.

Don't get too excited. $400 is in the cards, yes. But 300...? I don't think.

Im a big ole Bear, i lie in wait for times like this Grin

300's wouldnt suprise me. 200's either. Dont think we've seen captitulation, hardcore pain yet to come. same thing happening with gold/silver, last few weak hands being shaken out.

molecular

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Quote from: TeeBone on March 27, 2014, 01:50:30 PM

Both heading DOWNTOWN. 400's baby, bring it. 300's next.

Don't get too excited. $400 is in the cards, yes. But 300...? I don't think.

TeeBone

sr. member

Activity: 502

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Both heading DOWNTOWN. 400's baby, bring it. 300's next.

counter

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Time is on our side, yes it is!

Quote from: Spaceman_Spiff on March 26, 2014, 01:35:02 AM

Quote from: counter on March 26, 2014, 01:14:06 AM

I'm not sure I still feel comfortable comparing the two as there is no real reason why people would not use both for a place to store wealth. I can see why the price of gold would go down as it has made some strong moves up.

Whats the point of gold if bitcoin were a secure store of value?

well gold can't just be made out of thin air and has a history of being a good store of weath. Also it can be useful in other ways so I think it is a valuable asset to have. I hope that answers you question.

cypherdoc

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Not lookin so good.

Junior miners:

Large miners:

cypherdoc

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back under $1300!

Topic: Gold collapsing. Bitcoin UP. - page 1164. (Read 2032266 times)