Topic: I just cashed out my lot of Bitcoins for Gold. Here's why. (Read 6277 times)

Ahh. We have a paper gold trader here.

oh one sign bitcoin is dying is the volume in trading. so far its good.

i like the selling your btc part to lock profits.  but your gold prediction part remains to be seen. i hate predictions, especially when nobody really knows whats going on except for the insiders.

btc going to be at zero by 2020?  that's a big maybe. but until then, what will replace btc?  so far nadda. btc is here to stay for now.

Sounds smarter than "wife, house and yacht". But I guess you hold at least some of that, too

and gold was $1380.

You're surely in the green, but doing only the first part would've been better.

At time of the OP, the price of bitcoin was at $110.

There's other options than the ears that have some practical purpose. But rarely gold is used there as far as I can tell.

Agreed, They will likely keep them to term.

It is known that ALL the newly printed fiat that is going back to the FED is BEING used to buy more bonds. So it is not about not selling it is about not selling to foreign entities

This chart is interesting, if it is accurate, it means that the sale of government bonds in 2007 triggered the financial crisis, and after that the sentiment changed, they have to buy much more bonds to keep the system alive, and I guess they dare not to sell any government bonds in the foreseeable future

That's why gold is crashing hard 

To the OP.

That wasn't very smart.

Basically been trying to explain this already but most people respond with laughter or stick their fingers in their ears and say "la la la..."

are you talking about the white paper or am I missing something?

Yet, it is surprising how many agree with this idea, no?

The unique chemical properties of gold are pretty special.
You can't really burn it up.  It doesn't oxidize.  It pretty much is forever.
Diamonds are similar.
The notion of something lasting forever has a romantic quality to it.
To some of us, really cool math, elliptic curve cryptography, and an elegant philosophical proof are also highly rewarding and weirdly romantic as well.
You can do the math and see which of those are more likely to appeal to your lady friends.

Bitcoins look nice in my wallet too

I suspect gold is used in jewelry primarily because it is expensive, not even because of its chemical properties. Chemical properties are important too, especially for earrings, but for many other items, I see no particular reason why women would prefer gold & diamonds to plastic & glass. I'm not even sure where this idea that a woman with holes in her ears, and pieces of metal in them, somehow looks 'nicer', is coming from.

That was the data requested, foreign purchases.  It includes all foreign..
It is from the treasury report.  The latest data is there, in the link provided, but maybe you are in our future.
They also have domestic data, but you can look it up yourself, now that you know that it is there.  Make the graph that suits you best.

NET PURCHASES OF U.S. TREASURY BONDS & NOTES BY MAJOR FOREIGN SECTOR:
              FOREIGN OFFICIAL INSTITUTIONS, OTHER FOREIGNERS, AND
                     INTERNATIONAL & REGIONAL ORGANIZATIONS
                                        
                            (IN MILLIONS OF DOLLARS)


      (NEGATIVE FIGURES INDICATE NET SALES BY FOREIGNERS TO U.S. RESIDENTS
              OR A NET OUTFLOW OF CAPITAL FROM THE UNITED STATES)

                    TOTAL                                    INTERNATIONAL
                     NET          FOREIGN                         AND
                   FOREIGN        OFFICIAL       OTHER         REGIONAL
     MONTH        PURCHASES     INSTITUTIONS   FOREIGNERS    ORGANIZATIONS
     -------   ---------------  ------------  ------------  ---------------

     2013-03             5,289       -16,816        25,750           -3,645
     2013-02             2,614        -6,697         8,315              996
     2013-01            32,302        53,128       -23,075            2,249
     2012-12            29,893         8,366        19,974            1,553
     2012-11            28,085        -1,697        30,401             -619
     2012-10            12,043         7,841         3,834              368
     2012-09           -17,492           919       -22,127            3,716

Copied for the historical purpose of creating a thread called "I told you so"

https://blockchain.info/address/1BitcoinDiesWithSHA256As0f09062013

invalid address as already stated & no bitcoin sent obviously, so troll challenge:

BTC price atm $105/BTC & gold price $1,385/Oz atm, so say you sold $1M worth of BTC @ $105 (ignoring spread etc) = 9,525 BTC you get approx 722 Oz of gold, lets see in 1 year, 2 year, 4 year, 10 year, etc how much 9,525 BTC & 722 Oz of gold is worth in USD, atm it's $1M each.  

Sorry, but to me spreading false information about a topic that is already confusing for the average person is not a "nice joke".