Topic: Gold collapsing. Bitcoin UP. - page 1324. (Read 2032270 times)

my DZZ and ZSL are exploding. 

nice offset to the temporary drop in Bitcoin.

given what's happening with gold and silver, i strongly suggest that all you idiots who are dumping Bitcoin reverse yourselves and start buying.  

you won't get another chance.

BOOM.

gold and silver on HIGH ALERT.

i remember how exciting it was just to get over the "Diff: +1000" level.

when was that?  a mere month ago?

Although its hard to do an update at this time, perhaps now is also when it is most valuable.

the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 71.90.  Gold is 1525.00.  Nasdaq is 3300.00
Bitcoin: 1231.48%
Gold:    -9.76%
Nasdaq:  8.02%
Gold Diff:  1376% advantage Bitcoin and Shrinking
Nasdaq Diff:  1133% advantage Bitcoin and Shrinking


This thread was started in the period of stability after first bubble popped.  If you had invested then, your investment has outperformed gold and stocks by over 10 times!  And if you had invested at the "bottom" (around $2) you would be looking at 20x returns!  In less then 2 years. 

Bitcoin is on an exponential adoption curve.  This is so exciting that it periodically gets ahead of itself.  Way ahead.  Don't beat yourself up for not selling near the top... if you had done so you would essentially have been simply taking that money from new investors, rather then due to a fundamental growth in Bitcoin.  I guess the consolation prize for feeling guilty is being rich :-).  But since you are reading a thread about gold, I'm guessing long term investment not trading is a major part of your strategy; don't lose sight of that now.

A thought for those who are showing a paper loss -- for those who bought during this bubble:  You have a decision.   You can sell and take a real loss, reducing your portfolio diversification, taking a position in an inflating currency, and losing any chance of taking advantage of the volatility next time.  Or you can keep your money in bitcoins, recognizing its significant volatility on top of exponential growth.  If you had bought at the very top of the last bubble you'd be up over 100% right now.  Or see this as a buying opportunity.  Personally I don't see the choice as difficult.

And finally, a note about the future... during the last bubble people really thought that it was "the end of bitcoin".  Today, there is that history to look back on.  And people will look back on it and make investment decisions accordingly.  This is clearly not the end; there is life after a bubble.  In fact the Bitcoin story is still just beginning.

Bitcoin may be having some temporary, short term problems but look at this huge long term problem:

thats about right for him to be able to buy a mansion

How did you arrive at 3-7 BTC / oz AU ?

I'm wondering: Since you wrote about your concern regarding people levering their way to ride this run, don't you think this could have been prevented by not advertising potential gains like it was done?

You forgot " "

But in all seriousness it could fall quite a bit further before the butterfinger newbsteak coefficient falls down to early march levels again.

Actually, Trace Mayer did in a 21 March 2013 article:


$1560/$266=5.86

Right smack in the middle of 3-7 bitcoins per ounce of gold.

The current correction has taken it to about 10.2 bitcoins per ounce of gold. So expect a consolidation with a gradual closing of the ratio. This will probably be a combination of both an increase in the price of bitcoins and a decrease in the price of gold.

It would be delightful to me if PMs dropped a bunch (and there was physical availability) because I would rather take whatever profits I'm going to take out of Bitcoin straight into PMs rather than go through fiat.  And I don't like sitting on fiat.  Even better would be if a lot of private individuals got all worked up about Bitcoin so I could find willing trading partners for PMs and other things.

I find it hard to believe that after this much time, after all of the money that Mt. Gox has made, after the availability of high performance hardware and software, etc, they cannot have come up with a decent matching engine implementation.  An alternate explanation is that they wish to have poor performance at times, but that's pretty outrageous and doesn't make much sense.  So, I guess there must be things I'm not thinking of.

---

On a different topic, another thought I had was that when I was trading, I usually either put in bids a long way away from the market or just made my purchase.  It was not worth it to me to try to chase the price for a fraction of a percent.  Might as well just go ahead and make the purchase.  If I'd finished my buy-bot before I had my fill of Bitcoin it might have been a little different but not much.

So, I wonder how the near-walls get filled to such a high level and move so quickly to stay near the price.

Then I thought, gee, if I were going to manipulate things and risk a large stock of coins by selling, I could reduce the risk by simply selling them to myself.  Of course I also want the BTC of whatever geeks I got involved in the stampede.  So putting quite a few bids in over some period of time would be the way to go.

I don't trade much or participate in any market manipulation, so maybe this is a big 'no shit' to the veterans?

http://www.dailyreckoning.com.au/gold-vs-bitcoin/2013/04/10/

'The simple fact is that after a 13-year run, investors are selling. Spare me your central bank stories. The market doesn't care how you feel about monetary policy right now. Selling is contagious. And right now, it's getting close to a pandemic.Investors are selling gold ETFs at a record pace. Approximately 106 tonnes of bullion was dumped in February, according to CNNMoney. That's the biggest monthly sell-off ever. That's where your selling pressure is coming from — whether you like it or not.The gold cycle is turning. Avoid the ETFs and miners. If you own them, get out now. These will be the most vulnerable investments as the drop approaches.'

As the leading conspiracy theorist around here, you may be interested in this:

https://www.facebook.com/MtGox/posts/455962117821534

Misreality finally speaks up after a few hours of reprieve.  Well done!

Very informative and enlightening, thank you.

I'm not sure I'd call that a 'little' stiletto, but other than that I agree.

Bitcoin Up and gold catching up.