Topic: Gold collapsing. Bitcoin UP. - page 1555. (Read 2032281 times)

Gold is a no-brainer, until the debt bubble keeps inflating:


Source: http://www.theburningplatform.com/?p=31430

You need to point out that the market is rigged and even if TPTB try to push the prices of Precious metals lower to discourage people from investing in PM. You can't possible say that Gold is in a bubble. They have this game rigged for a very long time. You have countries demanding delivery of the PM. With the war drums beating you have countries going off the US dollar and receiving payment in gold instead of the worlds reserve currency the US dollar. This is just the beginning of this bull run in gold. Gold should be over 2000 by now and Silver over 100. When you have counties like Switzerland where the Swiss parliament are demanding the Federal Reserve return their gold reserves in a statement they released called the “Gold Initiative.” and other countries like Venezuela Germany. Something big is about to happen or people that understand the fundamentals will be in good shape for this depression we are heading. You can't have governments printing more money, then whats the point of working.

There is a difference in paper market game and the physical, You need to own physical and bitcoins.

Bitcoins will be worth more than 35US dollars because its the first free market that is not rigged, only manipulated by people with the most capital. But we are playing this game to increase capital or increase bitcoin holding. If I could move the price of bitcoins on buying or selling, then clearly I'm winning at this game called capitalism.

Yup buying all 3 atm (silver,gold, miners)

The fed is still printing.  They can't stop printing or the "recovery" will collapse.. They have no choice..

$DXY up.  USD/JPY up.  USD/CHF up.  EUR/USD down.

linear thinkers like you should be buying gold right now.  are you?  how about silver?

edit:  how about pm mining stocks?

It looks like we could be at the bottom of the deflationary cycle (which has been ongoing for over 10 years now, according to your chart).  Not to say that we are, but could be.

OR, you think $DXY is going to see new highs?

Bitcoin could have a giant increase in value because that is what BTC is worth thanks to the supply constraints and usability built in by the designer(s).

Bitcoin could go to zero if it never really 'catches' either because there is never a real need for the solution or because it is attacked effectively by those it threatens (and the resources at the disposal of such entities are vast.)

A third option which I did not really try to bring up in that entry is that Bitcoin could become a victim of it's own success and fail in the face of issues involving a combination of scaling problems + exploitation of the attack vectors that these problems open up.  I suspect that BTC values will approach zero in this instance though having control of elements of the block chain will not.

That is my current philosophy on the issue.  I have no idea which way things will go, but it is my nature to be prepared for failure and be pleasantly surprised if good results transpire.

I agree 100% with you in regarding to the yellow metal.  However,

I heard and repeated similar statement made by someone last year predicting the year-end BTC price, I was wrong.

It's now my belief that bitcoin is here to stay, users come and go, but there will always be believers, and its value will not go to zero.

why?

I have had to sit tight on my PM supply and wait it out for a year now and then while things consolidate.  Thankfully I have had zero difficulty doing so and ignoring all of the people calling a top.  Maybe this will be the time that the PM "bubble" finally pops, but I can think of no plausible change in the mechanisms which have been responsible for the increased value over the last decade.  There are things about PM's which concern me quite a lot and caused me to diversify, but a popping bubble is not really one of them.

I project that Bitcoin will either increase in value by several (if not many) orders of magnitude, or it will go to zero.  I think that the latter is much more likely than the former and always have, but I do hold enough BTC as a long-shot bet that if it takes hold I'll do much better than I possibly could with PM's.

Thanks to keep reminding me why I got you ignored Cypherdoc.

Hint : No sense of scale.

instead of rehashing all the same arguments, i'll just have you guys reread my thread started last Aug 9, 2011.  we'll just translate that date over to today and see what happens.

we are now at the start of wave 3 down in gold which will be the most devastating.

Gold: I smell a trap   

What are those numbers on the Y-axis?

Whatever it is, gold went from $300 to $1800 in the last 10 years, and that number went from 2.1 to 1.6; so the lower it goes, the higher gold price you'll see, right? 

does this look like inflation?

It has been estimated that all the gold mined by the end of 2009 totaled 165,000 tonnes. At a price of US$1900 per troy ounce, reached in September 2011, one tonne of gold has a value of approximately US$61.1 million. The total value of all gold ever mined would exceed US$10.1 trillion at that valuation. http://en.wikipedia.org/wiki/Gold_reserve

I also think it'll take much more than 8 years...

It's called "an extraordinary claim"

 

so the backtested for thousands of years store of value (gold)..  Good in Roman times, good today..

The GLD ETF has a market cap of 69 billion dollars..

http://data.cnbc.com/quotes/gld

Every Government in the world holds tons of gold just in case..

But BTC will overtake all that in just 8 years..

That is freaking amazing!!!!!!!!