Topic: Gold collapsing. Bitcoin UP. - page 804. (Read 2032266 times)
If there's blood, then the sharks will be coming. Wall Street pressure to approve the ETF, perhaps?
Smells like the infamous "blood-in-the-street" time begins.
It's much worse than that for Gold as money.
The GDX & GDXJ are signaling much more down side.
If only Bitcoin could shed its techno communists.
Gold is in a bear market, what did you guys expect? 1180 was bound to be broken sooner or later. It's going sub $1000 soon, $600-$800 is very likely within next 2 years.
Smells like the infamous "blood-in-the-street" time begins.
Gold cracked 1180. This is big!
It means nothing if you stop measuring gold in USD. There is no final line in the sand.
Bitcoin went to 275 when gold went to 1190.
Gold collapsing. Bitcoin being assaulted by SC"s.
Gold cracked 1180. This is big!
It means nothing if you stop measuring gold in USD. There is no final line in the sand.
Gold cracked 1180. This is big!
I wonder how much of a stretch it would be for the Swiss to achieve 20% gold holdings. Do I recall correctly that they have ~7% at this time? If they just bide their time, it will probably come about organically, as gold goes up and the worthless paper becomes more... Worthless.
Meanwhile, gold drops to 1175
Meanwhile, gold drops to 1175
It's going to be an issue for them because while protecting their EUR peg (by selling CHF) they have managed to amass a huge war-chest of foreign assets on the order of $500 billion ... so now 20% of foreign holdings is goinng to be quite some gold ... unless they buy back those CHF or try some slippery accounting tricks like recategorisation of assets foreign versus domestic, etc.
I wonder how much of a stretch it would be for the Swiss to achieve 20% gold holdings. Do I recall correctly that they have ~7% at this time? If they just bide their time, it will probably come about organically, as gold goes up and the worthless paper becomes more... Worthless.
Meanwhile, gold drops to 1175
Meanwhile, gold drops to 1175
Back to the gold topic.
There is a referendum in Switzerland, in November, which is likely to secure a yes vote that the SNB holds 20% of its assets in gold (currently at 7.6%). As soon as this passes the bank will have five years to reach the 20% target. There is no legal escape for it. Considering that the SNB balance sheet has recently blown out Fed/BoE/BoJ-style - it will have to buy up to 1,700 tons of gold in the open market - and take delivery!
http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown
I really think this will put a floor under the current gold price, and maybe even spark another medium-term rally.
There is a referendum in Switzerland, in November, which is likely to secure a yes vote that the SNB holds 20% of its assets in gold (currently at 7.6%). As soon as this passes the bank will have five years to reach the 20% target. There is no legal escape for it. Considering that the SNB balance sheet has recently blown out Fed/BoE/BoJ-style - it will have to buy up to 1,700 tons of gold in the open market - and take delivery!
http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown
I really think this will put a floor under the current gold price, and maybe even spark another medium-term rally.
Will be interesting to watch the weasels at the SNB try to wriggle out of it ... after the shit they pulled with the EUR peg anything is possible.
Shit is being pulled again! Seems like this...
...On the top floor of PayPal HQ the legendary Black Phone is ringing...
Nervously the execs crowd around until one of them summons enough courage to pick up the receiver.
There are no pleasantries, a voice just hisses: "Remember Wikileaks? Now its the Swiss Gold Initiative"
Drrrrrrrrr. The caller has hung up, the unseen world bankster network hath spoken.
https://goldswitzerland.com/swiss-gold-initiative-2014/
Quote
On Wednesday, October 29, we have received notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG. The reason is that we are not a formally registered charity in Switzerland and that we must seek a different approach to raising funds for this extremely important Initiative campaign. During the past two weeks we have received donations from various parts of the world and many from the United States of America. We and the Initiative Committee, chaired by Luzi Stamm of the Swiss National Parliament, are extremely greatful for the contributions that we have received to date and this setback will not stop our effort and our commitment to go through with the Social media promotional campaign that will in fact start on November 1 in Switzerland.
what BS but ... bitcoin to the rescue!
This could make for some great publicity for both bitcoin and the Swiss Gold initiative.
I've been seeing discussion in a number of places how BTC has been highly correlated with gold. True or not, the idea is gaining some currency.
Does the premise of this thread no longer hold? Will it return?
Does the premise of this thread no longer hold? Will it return?
Back to the gold topic.
There is a referendum in Switzerland, in November, which is likely to secure a yes vote that the SNB holds 20% of its assets in gold (currently at 7.6%). As soon as this passes the bank will have five years to reach the 20% target. There is no legal escape for it. Considering that the SNB balance sheet has recently blown out Fed/BoE/BoJ-style - it will have to buy up to 1,700 tons of gold in the open market - and take delivery!
http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown
I really think this will put a floor under the current gold price, and maybe even spark another medium-term rally.
There is a referendum in Switzerland, in November, which is likely to secure a yes vote that the SNB holds 20% of its assets in gold (currently at 7.6%). As soon as this passes the bank will have five years to reach the 20% target. There is no legal escape for it. Considering that the SNB balance sheet has recently blown out Fed/BoE/BoJ-style - it will have to buy up to 1,700 tons of gold in the open market - and take delivery!
http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown
I really think this will put a floor under the current gold price, and maybe even spark another medium-term rally.
Will be interesting to watch the weasels at the SNB try to wriggle out of it ... after the shit they pulled with the EUR peg anything is possible.
Shit is being pulled again! Seems like this...
...On the top floor of PayPal HQ the legendary Black Phone is ringing...
Nervously the execs crowd around until one of them summons enough courage to pick up the receiver.
There are no pleasantries, a voice just hisses: "Remember Wikileaks? Now its the Swiss Gold Initiative"
Drrrrrrrrr. The caller has hung up, the unseen world bankster network hath spoken.
https://goldswitzerland.com/swiss-gold-initiative-2014/
Quote
On Wednesday, October 29, we have received notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG. The reason is that we are not a formally registered charity in Switzerland and that we must seek a different approach to raising funds for this extremely important Initiative campaign. During the past two weeks we have received donations from various parts of the world and many from the United States of America. We and the Initiative Committee, chaired by Luzi Stamm of the Swiss National Parliament, are extremely greatful for the contributions that we have received to date and this setback will not stop our effort and our commitment to go through with the Social media promotional campaign that will in fact start on November 1 in Switzerland.
There are no block reward issued coins on a 1:1 sidechain, only coins that are locked by their owners in that chain.
it doesn't have to be that way.
which is precisely why SC's are a prelude to a shit fest with all sorts of blossoming SC's even worse than the altcoin explosion.
I know!
But to be honest I couldn't care less about this. Scammers will scam and speculators, suckers and fools will lose money. Sidechain doesn't enable them. In reality it confronts them with the question I have presented before : now that 1:1 sidechains exist, what is so special about the features you are proposing that they need their own coin to function, because the guy next door is doing just the same thing BUT on a 1:1 peg.
If they answer me like smooth believe they will : "because I want it to be so". Then F*** them, I'll buy from your neighbour at the 1:1 shop, there's MUCH less risk.
I also feel it's wrong to say SC don't enable scammerers it does it on a whole new level. I also feel your use of the word buy implies a one way exchange in value not a risk free leveraged of one's Bitcoin.
My understanding is a 1:1 peg is optional. And there is no mention of pegging the block rewards which would also be required to maintain a 1:1 pegged relationship.
1:1 is optional indeed but then the sidechain is no more a BTC application specific chain but a sidecoin, the younger brother of the altcoin.
Pegging the block reward? I think this explains your misunderstanding.
A 1:1 sidechain is not created with any unit in it. There are no block reward issued coins on a 1:1 sidechain, only coins that are locked by their owners in that chain.
There's no misunderstanding, there are valid applications for SC (I still think OT is a more practical solution for those trust free situations) I realize there will be all kinds of SC, but in principal thay are off blockchain ledgers with a mechanical link to Bitcoin - some with tokens some without some with MM some without. But ones with tokens that require MM will have tx rewards and they will be writt to a separate ledger and they'll need to reward miners, that may not even be written in blocks, but the economic incentive will be the same. You can't say how SC will be create or used so I think it's dishonest to say there won't be any 1:1 pegs that have odd rules.
After going through that series you will realize that their answers will be nothing but objectivist philosi-babble. Crypto-currencies are a social experiment and deserve the rigors of the experimental process. If this roundtable is any sort of scientific peer review, then there should be tl:dr abstracts available for public viewing. For Gods sake, even if it's just a formal meeting, at least have a secretary and take minutes!
No trolling.
After going through that series you will realize that their answers will be nothing but objectivist philosi-babble. Crypto-currencies are a social experiment and deserve the rigors of the experimental process. If this roundtable is any sort of scientific peer review, then there should be tl:dr abstracts available for public viewing. For Gods sake, even if it's just a formal meeting, at least have a secretary and take minutes!
No trolling. Maybe you could address directly what it is that I have wrong....
Not with the time constraints I'm under right now.Maybe by the time part 6 of that series is finished you'll have your answer.
Even better, email Daniel about joining the Hangout so that you can ask questions directly.
Maybe you could address directly what it is that I have wrong....
Not with the time constraints I'm under right now.Maybe by the time part 6 of that series is finished you'll have your answer.
Even better, email Daniel about joining the Hangout so that you can ask questions directly.
A 1:1 pegged sidecoin. Let say it is pegged in such a way that all bitcoins can be moved to scBTC (or none). There will always be a difference in value, due to the different qualities of the two coins. We have discussed the possibility of higher value, in which case all bitcoins will be converted, effectively it becomes an altcoin that takes over.
My opinion is a sxBTC value would not increase without first seeing a correlated increase in BTC. The reason for this is the sidechain in question is an additional value proposition to the use of Bitcoin itself and so the increase in price of the sidechain unit will be caused by an increase in the demand for Bitcoin because of the new feature provided by this sidechain.
As you have stated, the sidechain is only applicable to certain areas of transactions whereas Bitcoin covers them all. The logic is : no one is gonna buy some sxBTC on the open market just to be able to do faster or private transactions. They are going to buy BTC and then use some to store wealth, some to transact privately, some for faster confirmations.
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