Topic: Gold collapsing. Bitcoin UP. - page 649. (Read 2032266 times)

Silver down 

 

now this is ugly:

remember the VIX chart i posted on Friday?  it looks like we're due for a new bit of volatility in equity markets.  i also would suggest that a rising USD, which is continuing tonite, is BAD for stocks in the long run.  money is debt and debt is money.  since most stock bulls are fueled by debt, a rising USD severely limits returns in stocks.  a lot of factors are coming into convergence right about now which could propel Bitcoin upwards:

And a year is even more short.

Bottom line is the purchasing power of Bitcoin over USD has considerably increased over its lifetime.


Maybe you'd like to read gain what Cortex posted :


Your perspective is supported by a laughably short sample of time in the context of store of value.

nice gap down, baby.

Gold collapsing.  Bitcoin UP:

You can suggest it, though that's not what is being currently discussed.  Further, Bitcoin's lifespan is so laughably short, "historical" was probably not the word you were looking for

Well how about I suggest discussing historical inflation.

^There is no such thing as a "subjective timeframe."  In logic nerd terms, what you maked thar is an ill-formed statement.

If you wish to suggest the timeframe is random, you're wrong.  Nothing random about choosing a year when discussing yearly inflation.

subjective timeframe is subjective

@NotLambchop:

 

@Cortex7:
Over the past year, Bitcoin has proven itself to be a horrendous store of value, losing ~65% of its buying power. 
Your bit about "a few families [controlling fiat]" makes it clear that, with your understanding of economics, all would benefit if you spent your idle time "browsing my little pony sites" instead of posting your ignorant, paranoid drivel in adult fora.

@justusranvier:  There was no "increase in purchasing power of fiat" over the past year.  My dollar doesn't buy any more than it did one year ago.
There was a decrease in Bitcoin's buying power, tho.  ~65%.  Nice going.

They were very easy to find just 3 years ago, you just had to look and you could find about 1 BTC a day you just had to have basic computer skills and a couple of old computers the driving factor was the inclination to look. Now it's a lot harder but people are still almost giving them away.

  Get some while you can.

Over the past year, holding Bitcoin has provided a 0% risk of being confiscated via negative interest rates.

http://www.zerohedge.com/news/2014-11-29/financial-terrorists-road-krugman-and-rogoff-peddling-toxic-advice

The increase in purchasing power of fiat relative to Bitcoin over the last year has correspond with an increased amount of risk.

Whether or not that makes Bitcoin or fiat a "better" investment depends on one's preferences.

again, perspectives are different.

CB's hold huge stores of gold in vaults.  masses can't get at any of that.

there's still 8M BTC's to be made.  get some while you can.

this "peasant" factor is effectively luck.

luck is not an ideal distribution model as far as I'm concerned.

of course no one is arguing that fiat is a better model but it seems to me the accessibility of Bitcoin, considering its digital form, defeats the "luck" factor that may favors some.  

It also protects the ledger, if ever say the internet were to fail for a short duration or mining nodes where to become disconnected difficulty would prevent the chain growing too quickly and alow time for a real world fix. The economic majority would still have the longest chain,  but for eg. if 25% of mining power represented the majority the next difficulty could be delayed for up to 8 weeks, allowing other nodes to reconnect before the retargeting

What's the indicator you're seeing that's tipping you off?

Im not saying this in absolute terms.   I'm never going to 'find' some gold.   Im just saying it does happen that some easy gold is still out there.   Maybe that keys into why gold has been used in general populations for so long

In alaska its possible to pick up gold, I really dont think its worth moving there but in some places they have some gold under rocks.   Unlikely as that seems, Im going to call that out as a dynamic that there is this 'peasant' factor to gold that even the non elite could acquire it.     In zimbabwe its sometimes possible to dig for it, spend the entire day wrecking your muscles and you might get 30 dollars if lucky.  Not worth it but I think its worth noting
Dollars for contrast, the newest dollars are handed to the richest and largest companies possible such as primary dealers to newly created debt.  While some say gold is useless, this dollar systems seems a less inclusive system, possibly self destructive and debased

I think gold money supply grows slower then world economy and when usa was on gold standard it caused deflation.   It did not constrict growth of the economy but prices fell from this effect

The free part to gold is very minor, I realise the most gold mined is done by giant corporations and feeds into the largest forms of money.   Central banks then take it, store and its never used again (directly).  Lots of irony.   
I wouldnt argue that wealth must be given free or found randomly but fair distribution is a good plus to a working system.   Some possibility of getting some to masses is a big plus