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First Bitcoin ATM machine comes to San Diego
http://www.kusi.com/story/26572142/first-bitcoin-atm-machine-comes-to-san-diego
please support these guys anytime you're in San Diego!
Topic: Gold collapsing. Bitcoin UP. - page 942. (Read 2032274 times)
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Yup. I'm not comfortable shorting gold because the cost of production is too close to the cost per oz. But I'm not comfortable going long because of the power of the paper market. The stock markets and real estate look scary and I can't shake the feeling that btc is being supressed. Maybe it's one of fiat cash is king moments
... is what you meant right?Haha yes. I should have been more specific. One of the best investment strategies ever. Just sit and wait for something interesting to come along. But the dollar's 'strength' is a mirage right now as every currency races to the bottom.
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The world is going digital, something that never existed before. Gold can't compete in a digital world
All it takes is a Electromagnetic pulse and you'd find out why just one store of wealth is not happening. Or a really bad solar flare, feasible events.
Its very easy for gold to be digital, what is less likely is the distributed network that btc has. Dollars can be backed by gold and so value can be transmitted without chopping up bits of gold
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Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication
Dont you think we could replace gold a long time before 1972. If it needed to be replaced it would have, its been there thousands of years because the one constant is human nature; such as every generation believing they have surpassed the mistakes of the last and then right after repeating those same mistakes
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Yup. I'm not comfortable shorting gold because the cost of production is too close to the cost per oz. But I'm not comfortable going long because of the power of the paper market. The stock markets and real estate look scary and I can't shake the feeling that btc is being supressed. Maybe it's one of fiat cash is king moments
... is what you meant right? 
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
And that's where you're wrong. The world is going digital, something that never existed before. Gold can't compete in a digital world. Bitcoin can. Forget that and you'll pay the price.
The lights won't stay on for another 1000 years. Unless Singularity and/or Bitcoin usher in 1000 years of Bitopia.
As far as our lifespans go, the old ceiling of gold parity will soon be the new floor. Bitcoin is much rarer (and more easily stored/transmitted/audited/verified) than gold.
disgusting bankers:
Those soft-hearted bankers expressed a concern that without adquate consumer protections, users of Bitcoin would be vulnerable to fraud and theft. Bankers also suggested, presumably out of a concern for national security, that Bitcoin be subject to the same anti-money-laundering procedures, including Know-Your-Consumer, that banks are subjected to. Bankers explicitly suggested that Bitcoin be subjected to the suspicious activities reports (SARs) that banks must currently file. Personally, this all sounds like an attempt at “raising rivals’ costs” to me.
http://www.cato.org/blog/bankers-advise-fed-regulate-bitcoin
Those soft-hearted bankers expressed a concern that without adquate consumer protections, users of Bitcoin would be vulnerable to fraud and theft. Bankers also suggested, presumably out of a concern for national security, that Bitcoin be subject to the same anti-money-laundering procedures, including Know-Your-Consumer, that banks are subjected to. Bankers explicitly suggested that Bitcoin be subjected to the suspicious activities reports (SARs) that banks must currently file. Personally, this all sounds like an attempt at “raising rivals’ costs” to me.
http://www.cato.org/blog/bankers-advise-fed-regulate-bitcoin
Patterns are imaginary. The trick is to understand how imagination works.
true, but my imagination on gold has worked so far.
Yup. I'm not comfortable shorting gold because the cost of production is too close to the cost per oz. But I'm not comfortable going long because of the power of the paper market. The stock markets and real estate look scary and I can't shake the feeling that btc is being supressed. Maybe it's one of cash is king moments.
Patterns are imaginary. The trick is to understand how imagination works.
true, but my imagination on gold has worked so far.
Patterns are imaginary. The trick is to understand how imagination works.
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make.
This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow."
http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrow
thanks for the interesting article.
May we live in interesting times... People who hold bitcoins aren't necesarily investors. They are equally as likely to be idealists, anarchists or just interested in technology. As user705 pointed out, gold as pure money is not the future, but gold, either long or short, could be a good short to mid term investment or speculative bid.
a while back i went over why i thought the peak in gold was in 2011. if i'm right, this was an 11 yo bull which is pretty advanced and even longer than the general commodity bubble we had throughout the noughts. i believe there is a repeating 9 yr gold cycle which bottomed in 2008. this current 9 yr cycle appears to have topped in 2011 after only 3 yr and into a parabola, characteristic of bubble tops. the left translated shape also is suggestive that we've seen the top and is a bearish sign. we won't be bottoming for this cycle for a few more years.
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make.
This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow."
http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrow
thanks for the interesting article.
May we live in interesting times... People who hold bitcoins aren't necesarily investors. They are equally as likely to be idealists, anarchists or just interested in technology. As user705 pointed out, gold as pure money is not the future, but gold, either long or short, could be a good short to mid term investment or speculative bid.
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make.
This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow."
http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrow
thanks for the interesting article.
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make.
This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow."
http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrow
USD is getting weaker and weaker... soon will lose its reserve title...then things will get interesting and to be honest, I hope I am long gone before then.
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
No arguments there. I think it's more important to look at gold from its investment perspective right now. Does it have one last mega-spike left or is it dead in the water? If you believe the former then it's worth hanging in there or buying and waiting for the right time to sell, and then move into other investments. If you think it's already dead then your money should be somewhere else (or cash in hand waiting for something else), or shorting gold. And in these weird times, those are some bitching decisions to make.
This is an interesting development. "Battle for control over gold pricing begins as China opens gold window tomorrow."
http://www.examiner.com/article/battle-for-control-over-gold-pricing-begins-as-china-opens-gold-window-tomorrow
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Guys like you, and especially the hired trolls all over this forum like Severro, antibitcoinconsortium, fallling, etc don't even realize that the only reason they are able push their agenda and scare everyone is through their repeated usage of the very tool that Bitcoin uses; the Internet. Bitcoin is essentially just messaging over the Internet.
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
Bitoin might end up a blip of history in 50 years or perhaps it will be like the 1st computer or a ford model T but you are confused about the point here. Gold will still be gold a 1000 years from now but it will never be money again for the majority of the worlds population just like pigeon mail will never be a future mode of communication for the majority of the worlds population or the horse will again somehow become a major mode of transport. btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
is a strong relationship between gold and btc?
0.691
Correlated
https://www.kimonolabs.com/bitcoin/correlator
so basically none
So moderately strong positively correlated. Correlation ranges from -1 to 1
Before the agricultural revolution, it took humanity about one million years on average to develop enough infrastructure/capability to support an additional one million humans living at subsistence levels. After the agricultural revolution, that changed to talking only a few hundred years. Now, after the industrial revolution, that takes 90 minutes on average.
There are huge side effects:
http://www.worldwildlife.org/threats/soil-erosion-and-degradation
That's important but the kicker is overall economic growth, we're moving from a meme of more to a meme of better. The problem is the centers of control are working from the ideology of Co opting / controlling the supply of more. Monopolies have no value when people find alternatives, micro electronics, alternate energy and food security technologies like aquaponics (oh and money) are reshaping everything.
Before the agricultural revolution, it took humanity about one million years on average to develop enough infrastructure/capability to support an additional one million humans living at subsistence levels. After the agricultural revolution, that changed to talking only a few hundred years. Now, after the industrial revolution, that takes 90 minutes on average.
There are huge side effects:
http://www.worldwildlife.org/threats/soil-erosion-and-degradation
gold up, btc down 70% ytd and counting lol
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
btc will be a blip in history in 50 yrs, gold will be as good as gold 1000 yrs from now.
And that's where you're wrong. The world is going digital, something that never existed before. Gold can't compete in a digital world. Bitcoin can. Forget that and you'll pay the price.
+1.
Look at how the world has changed in the last 200yrs. It's been unprecedented. I read a paragraph the other day that stated (paraphrasing):
Before the agricultural revolution, it took humanity about one million years on average to develop enough infrastructure/capability to support an additional one million humans living at subsistence levels. After the agricultural revolution, that changed to talking only a few hundred years. Now, after the industrial revolution, that takes 90 minutes on average.
Think about that. Humanity and civilization are changing faster than they ever have before, by many orders of magnitude, and the digitization and electronic interconnectedness of the world is only accelerating that pace.
tl;dr: It *is* reasonable to think that ideas and customs which have "stood the test of time" will soon change/end.
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