"the other thing i said above is that it looks like gold is heading into a world of hurt starting right about now. that should be good for Bitcoin."
Cypher, I'm thinking the average gold investor will be scared to shift into btc if they perceive it to be just another CB controlled market. Out of the frying pan etc. Wall Street will switch its attention to btc when the Fed stops controlling the Dow/S&P. There's too much easy money to be made in the stock markets for the big boys until then, and any shift to safety just seems to go into the dollar and related instruments. The major funds have pulled billions out of the UK markets in recent weeks, mainly because of Scotland's independence referendum and the only beneficiaries of that move seem to be $DXY and other major stock markets. A yes vote will see some nice volatility in the markets, but I'm not sure if bitcoin will see much impact. The voting starts later today.
Topic: Gold collapsing. Bitcoin UP. - page 945. (Read 2032274 times)
From the WSJ a few weeks back.
"The SEC usually takes about a year to approve an ETF, but it is still reviewing an application for a bitcoin fund 14 months after it was filed. That fund, to be called Winklevoss Bitcoin Trust and carry the ticker symbol COIN, comes from the brothers Tyler Winklevoss and Cameron Winklevoss."
And I'm sure they'll drag it out as long as possible.
http://online.wsj.com/articles/with-a-bitcoin-etf-risk-isn-t-virtual-1410120108
"The SEC usually takes about a year to approve an ETF, but it is still reviewing an application for a bitcoin fund 14 months after it was filed. That fund, to be called Winklevoss Bitcoin Trust and carry the ticker symbol COIN, comes from the brothers Tyler Winklevoss and Cameron Winklevoss."
And I'm sure they'll drag it out as long as possible.
http://online.wsj.com/articles/with-a-bitcoin-etf-risk-isn-t-virtual-1410120108
the main bull argument i see here for a bottom in the 440 range is we have considerable support as seen in the drawn oval. sure, there's a chance we push down into the 300's to challenge the 339 low but the bears have to get thru the support level first. that's going to be difficult due to all the selling that's been going on. do they have the ammunition?
the other thing i said above is that it looks like gold is heading into a world of hurt starting right about now. that should be good for Bitcoin.
the other thing i said above is that it looks like gold is heading into a world of hurt starting right about now. that should be good for Bitcoin.
$DXY just poked its head over the top of resistance --> Breakout!
i said this in the Wall St Myth thread.
what Wall St will need to see to get into Bitcoin in a big way is Gold Collapsing, Bitcoin UP. once they see that money moving into Bitcoin and the increased liquidity that comes with it, then they will be willing to get in in a big way. both of these factors will be huge inputs into the price.
it's happening now.
what Wall St will need to see to get into Bitcoin in a big way is Gold Collapsing, Bitcoin UP. once they see that money moving into Bitcoin and the increased liquidity that comes with it, then they will be willing to get in in a big way. both of these factors will be huge inputs into the price.
it's happening now.
clearly POW is failing:
gold rejecting off resistance. should resume downtrend:
1310! Its just where the candlesticks are pointing.. we shall see.
Said this in 2012... probably earlier too... http://www.forexfactory.com/news.php?do=news&id=380828#post5957650
USDx and Stock market leaving the station together... probably 32k dow and 90-95 usdx atleast.
dude! gold sinking further after hours!
1210 incoming!
gold rejecting off resistance. should resume downtrend:
1310!
Wrong direction
gold rejecting off resistance. should resume downtrend:
1310! Its just where the candlesticks are pointing.. we shall see.
Said this in 2012... probably earlier too... http://www.forexfactory.com/news.php?do=news&id=380828#post5957650
USDx and Stock market leaving the station together... probably 32k dow and 90-95 usdx atleast.
"People have left the party as the gold story becomes boring for many investors," John Stephenson, portfolio manager at Stephenson & Co., told the news service.
"The world is not falling apart, and the market has shrugged off the political developments. At a time when higher interest rates are knocking at the door, people don't see the need for gold."
http://www.newsmax.com/Finance/UBS-gold-Fed-dollar/2014/09/16/id/594964/
"The world is not falling apart, and the market has shrugged off the political developments. At a time when higher interest rates are knocking at the door, people don't see the need for gold."
http://www.newsmax.com/Finance/UBS-gold-Fed-dollar/2014/09/16/id/594964/
I did sell almost all of my gold earlier this year in tranches. I will keep a small %. Markets are buoyed by one thing and one thing only - expectation of central bank buying. I would be extremely surprised if the fed actually taper QE significantly. After all a rising interest rate will hammer asset prices and who the heck is going to buy the bonds!?
"People have left the party as the gold story becomes boring for many investors," John Stephenson, portfolio manager at Stephenson & Co., told the news service.
"The world is not falling apart, and the market has shrugged off the political developments. At a time when higher interest rates are knocking at the door, people don't see the need for gold."
http://www.newsmax.com/Finance/UBS-gold-Fed-dollar/2014/09/16/id/594964/
"The world is not falling apart, and the market has shrugged off the political developments. At a time when higher interest rates are knocking at the door, people don't see the need for gold."
http://www.newsmax.com/Finance/UBS-gold-Fed-dollar/2014/09/16/id/594964/
gold rejecting off resistance. should resume downtrend:
just read this paragraph and realize just what a dictator John Kerry perceives himself to be:
"Well, folks," he said, "ever since the end of the Cold War, forces have been unleashed that were tamped down for centuries by dictators, and that was complicated further by this little thing called the internet and the ability of people everywhere to communicate instantaneously and to have more information coming at them in one day than most people can process in months or a year."
"Well, folks," he said, "ever since the end of the Cold War, forces have been unleashed that were tamped down for centuries by dictators, and that was complicated further by this little thing called the internet and the ability of people everywhere to communicate instantaneously and to have more information coming at them in one day than most people can process in months or a year."
Holy cow - so he believes he can process all this information and without changing his opinions over time, dictator is an understatement, this is a motive for internet censorship.
just read this paragraph and realize just what a dictator John Kerry perceives himself to be:
"Well, folks," he said, "ever since the end of the Cold War, forces have been unleashed that were tamped down for centuries by dictators, and that was complicated further by this little thing called the internet and the ability of people everywhere to communicate instantaneously and to have more information coming at them in one day than most people can process in months or a year."
"Well, folks," he said, "ever since the end of the Cold War, forces have been unleashed that were tamped down for centuries by dictators, and that was complicated further by this little thing called the internet and the ability of people everywhere to communicate instantaneously and to have more information coming at them in one day than most people can process in months or a year."
Boom. usually the first move is the wrong move.
What did the FOMC say? Can anyone summarize?
tldr: tapering to $5 bill mortgage purch, $10bill treasuries.
...that economic activity is expanding at a moderate pace. On balance, labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee’s longer-run objective. Longer-term inflation expectations have remained stable.
The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions...
Beginning in October, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $5 billion per month rather than $10 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $10 billion per month rather than $15 billion per month.
Thanks. So, this isn't a commitment though right? It's an "intention to taper"?
correct. you never know with these ppl though.
I've always understood hashrate to be calculated on the rate of block discovery
https://bitcoinwisdom.com/bitcoin/difficulty
http://bitcoin.stackexchange.com/questions/11139/how-is-the-network-hash-rate-calculated (see answer 2)
But that said failures in keeping an internet connection up 24/7 and Maximum power draw running 24/7 without hardware failure, while mitigating DOS attacks does account for some variance.
https://bitcoinwisdom.com/bitcoin/difficulty
http://bitcoin.stackexchange.com/questions/11139/how-is-the-network-hash-rate-calculated (see answer 2)
But that said failures in keeping an internet connection up 24/7 and Maximum power draw running 24/7 without hardware failure, while mitigating DOS attacks does account for some variance.
well, here's the good news.
in terms of instantaneous reactions, Bitcoin hasn't budged an inch.
in terms of instantaneous reactions, Bitcoin hasn't budged an inch.
which may, in the broader picture, argue for Bitcoin as the ultimate hedge against mayhem in the broader markets.
and also argues against gold & silver as well, as we see it whipping around like a stuck pig right along with everything else.
i don't know but sometimes i have this bad habit of correlating significant news events with what i perceive to be turning points in charts.
but today's FOMC mtg comes right on the day that the BTC price retests the 440 level (almost the bottom) after 9.5 mo of its longest bear mkt.
it would be fitting if we bottomed out now.
Boom. usually the first move is the wrong move.
What did the FOMC say? Can anyone summarize?
*FED TO END QE PROGRAM AT NEXT MEETING IF OUTLOOK HOLDS, RELEASES EXIT STRATEGY GUIDELINES
*FED WILL USE IOER RATE TO MOVE FED FUNDS INTO TARGET RANGE
*FED TO USE OVERNIGHT-REVERSE REPO `AS NEEDED' IN EXIT
*FIRST RATE RISE SEEN IN 2015 BY 14 FED OFFICIALS VS 12 IN JUNE
*FED KEEPS 'CONSIDERABLE TIME' PLEDGE FOR LOW RATES POST-QE
*FED SEES MEDIAN FED FUNDS RATE AT 1.375% AT END OF 2015
*FED SAYS TIMING OF REINVESTMENT PHASE-OUT IS ECONOMY-DEPENDENT
*FED SAYS INFLATION `RUNNING BELOW' FOMC'S LONG-RUN GOAL
*FED REPEATS SIGNIFICANT UNDERUTILIZATION IN LABOR MARKETS
*FED SAYS ECONOMY EXPANDING AT MODERATE PACE, LABOR MKT IMPROVED
*FISHER, PLOSSER DISSENT ON FOMC VOTE ON FORWARD GUIDANCE
Also thanks.
Boom. usually the first move is the wrong move.
What did the FOMC say? Can anyone summarize?
tldr: tapering to $5 bill mortgage purch, $10bill treasuries.
...that economic activity is expanding at a moderate pace. On balance, labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Fiscal policy is restraining economic growth, although the extent of restraint is diminishing. Inflation has been running below the Committee’s longer-run objective. Longer-term inflation expectations have remained stable.
The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions...
Beginning in October, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $5 billion per month rather than $10 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $10 billion per month rather than $15 billion per month.
Thanks. So, this isn't a commitment though right? It's an "intention to taper"?
Boom. usually the first move is the wrong move.
What did the FOMC say? Can anyone summarize?
*FED TO END QE PROGRAM AT NEXT MEETING IF OUTLOOK HOLDS, RELEASES EXIT STRATEGY GUIDELINES
*FED WILL USE IOER RATE TO MOVE FED FUNDS INTO TARGET RANGE
*FED TO USE OVERNIGHT-REVERSE REPO `AS NEEDED' IN EXIT
*FIRST RATE RISE SEEN IN 2015 BY 14 FED OFFICIALS VS 12 IN JUNE
*FED KEEPS 'CONSIDERABLE TIME' PLEDGE FOR LOW RATES POST-QE
*FED SEES MEDIAN FED FUNDS RATE AT 1.375% AT END OF 2015
*FED SAYS TIMING OF REINVESTMENT PHASE-OUT IS ECONOMY-DEPENDENT
*FED SAYS INFLATION `RUNNING BELOW' FOMC'S LONG-RUN GOAL
*FED REPEATS SIGNIFICANT UNDERUTILIZATION IN LABOR MARKETS
*FED SAYS ECONOMY EXPANDING AT MODERATE PACE, LABOR MKT IMPROVED
*FISHER, PLOSSER DISSENT ON FOMC VOTE ON FORWARD GUIDANCE
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