Gold collapsing. Bitcoin UP. - page 1313.

Adrian-x

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Quote from: ?? on ??

Quote from: miscreanity on May 10, 2013, 01:26:37 PM

Quote from: ?? on ??

Armies used to be paid with gold, and so the presence of gold was representative of the reach of a state. It is painfully ironic that anti-statists have embraced gold.

Temporal beneficiaries are constantly in flux. Gold historically allowed central authority to rise, and also brought its downfall. It is the surrounding dynamic as much as the properties of the metal that determines the trend.

How did gold bring the downfall of central authority?

Oh, that's right—it allowed for overreach.

I'd love to get more info on this history I find it fascinating.
I would have concluded central authority hasn't yet had a impactful downfall, ultimately gold (being somewhat finite) was abandoned by central authority (and the Capitalists) because it couldn't be inflated (absurdly using the gold standard) and if someone saved it, it couldn't be returned through inflation.

Melbustus

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Quote from: miscreanity on May 10, 2013, 02:13:11 PM

It's also amusing that accusations of Bitcoin being a pump & dump are vociferously rejected while the same argument is turned on gold. The principle of wealth protection stands for both.

Yeah, they're both scarce, but gold has a huge bug: tangibility. Gold is like an alt-coin but with worse properties.

miscreanity

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Quote from: cypherdoc on May 10, 2013, 12:45:18 PM

the gold bulls are desperate.

your question prompted me to call my local coin dealer down the street. the markup for a Kruggerand over spot is 4%. it's been that for years back when i was buying in 2005.

One sample does not represent the population.

It's also amusing that accusations of Bitcoin being a pump & dump are vociferously rejected while the same argument is turned on gold. The principle of wealth protection stands for both.

As derivative instruments develop more widely for Bitcoin, the distinction between an actual Bitcoin holding and such instruments will cause the same difficulty in distinction between the asset and its representations that we're seeing with gold.

Paper claims are nothing. Physical monetary metals are not extinct, nor will they be in the immediate future. If that were the case, Bitcoin would've already come to dominate all aspects of finance and would probably be valued in excess of USD$40mm per BTC.

waveaddict

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Quote from: cypherdoc on May 10, 2013, 12:45:18 PM

the gold bulls are desperate.

your question prompted me to call my local coin dealer down the street. the markup for a Kruggerand over spot is 4%. it's been that for years back when i was buying in 2005.

I always found the Sprott physical silver and gold trust premium/discount percentage to be a good indicator for whether these conspiracy theories have any merit. A higher premium trend would make me possibly believe in them. However, since last year, the premium has virtually disappeared between physical and paper. Remember, the market will almost always warn of an imminent problem if there was one.

A historical chart for the gold trust premium/discount percentage can be found here:
http://sprottphysicalbullion.com/sprott-physical-gold-trust/net-asset-value/

A historical chart for the silver trust premium/discount percentage can be found here:
http://sprottphysicalbullion.com/sprott-physical-silver-trust/net-asset-value/

Adrian-x

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Quote from: ?? on ??

I was 90% in BTC/LTC when it was at $3.5 / .005$

However I like to keep only 90% or so in crypto. So i have been profit taking here and there. now I have some silly fiat and want some cheap silver.
...

This is the most bullish sign I have seen for Bitcoin today. (Implies Bitcoin's distributing)
And not to mention my superstitious reasoning, The last time I had a similar thought it resulted in over a 1000% increase in BTC.

miscreanity

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Quote from: ?? on ??

Armies used to be paid with gold, and so the presence of gold was representative of the reach of a state. It is painfully ironic that anti-statists have embraced gold.

Temporal beneficiaries are constantly in flux. Gold historically allowed central authority to rise, and also brought its downfall. It is the surrounding dynamic as much as the properties of the metal that determines the trend.

cypherdoc

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Quote from: Tril on May 10, 2013, 12:15:02 PM

Cypher,

What do you think about this:
http://www.zerohedge.com/news/2013-05-09/are-we-verge-witnessing-death-paper-gold-scam

Plausible: someone spreads rumors of a run on physical gold to try to prop up gold price?

the gold bulls are desperate.

your question prompted me to call my local coin dealer down the street. the markup for a Kruggerand over spot is 4%. it's been that for years back when i was buying in 2005.

Tril

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Cypher,

What do you think about this:
http://www.zerohedge.com/news/2013-05-09/are-we-verge-witnessing-death-paper-gold-scam

Plausible: someone spreads rumors of a run on physical gold to try to prop up gold price?

oakpacific

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I don't know, on one hand, it feels kinda sad that one can never stop a granny from buying foolishly. On the other, maybe the implication is that with the downfall of gold they will finally realize that PM's mojo is no more?

N12

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Gold is a barbarous relic. Grin

cypherdoc

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Quote from: ?? on ??

But... But, I thought gold was supposed to break the trend line.

it did.

DOWN.

cypherdoc

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oh Lordy.

geezuz, silverbox, is it time yet?:

cypherdoc

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Quote from: ?? on ??

Quote from: cypherdoc on May 10, 2013, 08:28:13 AM

Quote from: ?? on ??

Silver way down, hope I can buy some at 19$

You should've been buying bitcoins at 50.

I was 90% in BTC/LTC when it was at $3.5 / .005$

However I like to keep only 90% or so in crypto. So i have been profit taking here and there. now I have some silly fiat and want some cheap silver.

Nothing wrong with diversification. Silver I think will do well in the next 40 to 50 years and I am willing to wait.

Peace

I'll be dead by then.

Peace.

cypherdoc

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Quote from: ?? on ??

Silver way down, hope I can buy some at 19$

You should've been buying bitcoins at 50.

cypherdoc

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Quote from: tvbcof on May 03, 2013, 05:58:28 AM

Wow. BTC down to $86. Harshest of tokes!

Gold looks like it's toying with $1500 again at least. Nice to be diversified.

Spoke too soon.

Gold DOWN. Bitcoin up.

Zerg?

tvbcof

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Wow. BTC down to $86. Harshest of tokes!

Gold looks like it's toying with $1500 again at least. Nice to be diversified.

thezerg

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Quote from: cypherdoc on May 01, 2013, 09:11:12 AM

zerg?

Gold hurting today, bitcoin too (but not so much) Sad

the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 130.00. Gold is 1444.00. Nasdaq is 3317.00
Bitcoin: 2307.41%
Gold: -14.56%
Nasdaq: 8.58%
Gold Diff: 2718% advantage Bitcoin
Nasdaq Diff: 2117% advantage Bitcoin[/b][/size]

cypherdoc

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zerg?

tvbcof

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Quote from: cypherdoc on April 28, 2013, 05:19:03 PM

...
maybe he wrote it in a fit of drunkenness.

Some chemically induced altered state of consciousness strikes me as a strongly plausible hypothesis.

cypherdoc

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Quote from: tvbcof on April 28, 2013, 02:37:31 PM

Quote from: cypherdoc on April 28, 2013, 06:13:39 AM

Hey tv

Looks like the majority don't think that Max was joking :

http://thegenesisblock.com/no-mr-keiser-bitcoin-should-not-peg-itself-to-the-dollar/

His ranting was particularly unclear on the piece in question. You are right about that. I cannot be confident that I understand exactly where he was coming from. But I am certain that Max in no way meant to indicate that a peg should be implemented in the 'classic' fiat money supply way because it is simply to absurd. Similarly, any literal interpretation of the 'peg' or 'fix' in terms of on-the-street valuation has to be a joke, but most of you Libertarians went off on a tear without thinking about that.

With luck Keiser will follow up in an entertaining way in one of his outlets.

its unfortunate b/c in the meantime his reputation is being ripped to shreds and he hasn't bothered to show up and defend himself.

maybe he wrote it in a fit of drunkenness.

Topic: Gold collapsing. Bitcoin UP. - page 1313. (Read 2032272 times)