Topic: Gold collapsing. Bitcoin UP. - page 928. (Read 2032270 times)
I seem to remember it happening before...
So the bitcoin price is going up and to the left?
Didn't think that was possible. lol
i know, i know. i tried for about a minute to flip it in imgur but noscript was messing me up. Up. i mean UP!
remember what i said about clearing the resistance ceiling near 440. there is little to no further resistance until 600. given the magnitude of the Paypal news and the longish almost 10m bearish trend, we could see us move up fast.
So the bitcoin price is going up and to the left?
Didn't think that was possible. lol
lol, wtf. the shorts on finex are still there in their full 11k beauty...?!? wouldn't have thought.
This is awesome because it shows that this wasn't a covering rally like the last one.
RE: digital money beating gold. Cypherdoc I think that this is one of the smartest things you've said on this forum so far. You observed that digital money makes transmission instant and therefore can be deployed rapidly to calm panics, etc. That is, the physical act of deployment can happen quickly.
I'd like to extend this a tidbit to also observe that unbacked money has the advantage that social/political advantage that the decision to transfer can be made quickly and in a centralized fashion. That is, deciding to pull gold out of Fort Knox and send it to god knows where would probably require an act of congress and freak out the general public. But telling some bank that they can add a couple of zeros to their balance sheet, especially given that that money needs to STAY on the balance sheet to meet additional solvency regulations, seems to be done by a couple of people sitting in a conf room with no oversight or public knowledge of the situation. This may not be GOOD, but it let fiat beat gold...
That is a great observation explaining the true nature of fiat, that of a manipulation tool and as such it has a great value to the political class.
On the other hand real money is like physics it doesnt care about your feelings if you step out of the ledge and crash on the concrete.
There's a real discussion to be made by rational and civilised societies in the future about this.
For the time being bitcoiners are creating the future without asking permission.
RE: digital money beating gold.
If it wasn't for the religion of gold throwing so many smokescreens up around the issue, it would be generally considered as obvious as the fact that the internal combustion engine beat horses as a transportation provider. lol, wtf. the shorts on finex are still there in their full 11k beauty...?!? wouldn't have thought.
This is awesome because it shows that this wasn't a covering rally like the last one.
RE: digital money beating gold. Cypherdoc I think that this is one of the smartest things you've said on this forum so far. You observed that digital money makes transmission instant and therefore can be deployed rapidly to calm panics, etc. That is, the physical act of deployment can happen quickly.
I'd like to extend this a tidbit to also observe that unbacked money has the advantage that social/political advantage that the decision to transfer can be made quickly and in a centralized fashion. That is, deciding to pull gold out of Fort Knox and send it to god knows where would probably require an act of congress and freak out the general public. But telling some bank that they can add a couple of zeros to their balance sheet, especially given that that money needs to STAY on the balance sheet to meet additional solvency regulations, seems to be done by a couple of people sitting in a conf room with no oversight or public knowledge of the situation. This may not be GOOD, but it let fiat beat gold...
A floating abstraction based on force and politics is loosing value relatively to a rational and mathematically secure tool of value exchange.
Yes seems plausible and inevitable !!!
Yes seems plausible and inevitable !!!
Engineers vs.Thugs: the Power of Bitcoin, Cryptography &Tech
https://www.youtube.com/watch?v=KybZAEm0stY
wow thanks for this! That was one of the most refreshing perspectives I've heard in a while.
lol, wtf. the shorts on finex are still there in their full 11k beauty...?!? wouldn't have thought.
bears have gained hubris, time to slaughter
lol, wtf. the shorts on finex are still there in their full 11k beauty...?!? wouldn't have thought.
aye caramba!
just got home... what's the gist?
just got home... what's the gist?
Nice 14% rally in 60min.
i love short squeezes 
The squeeze hasn't even started yet, 11,227.90 BTC still lent out on bitfinex.
Shorts increasing, now at 11,325.44 BTC. This is going to be fun
.
Shorts getting scared. 
they stuck their necks out and got their heads chopped off
At least they'll be immortalized forever.http://nakamotoinstitute.org/the-skeptics/
Panic buy time.
i love short squeezes
The squeeze hasn't even started yet, 11,227.90 BTC still lent out on bitfinex.
they stuck their necks out and got their heads chopped off
Jump to: