Reminder: Goldbugs are a joke - page 2.

hatshepsut93

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Quote from: pereira4 on July 07, 2019, 10:59:05 AM

The entire market is obviously rigged. When you can pump stocks by printing money you don't get a clear view of what's going on. The metals market are also rigged. Spoofing in future markets is an ongoing thing. When JP morgan's ass was saved when they did the wrong trade on silver back on 2012 which resulted on Blythe Masters being executed.

People are saying the same thing about Bitcoin, that banks/governments can print money and buy it, that futures are used to manipulate the price. People are talking about whales and manipulators in Bitcoin every day.

Quote from: pereira4 on July 07, 2019, 10:59:05 AM

They meet in chatrooms / telegram and manipulate prices, this is no crazy conspiracy theory. Obviously this is happening in all markets to some extent including Bitcoin but with the difference being that with Bitcoin it's the only thing you can know and audit to be strictly limited in amount so any Maddof scheme attemps to disturb real price discovery are short-lived.

Everything is a [conspiracy] theory until there is evidence. Manipulation, insider trading and other illegal practices happen all the time, on any market, but it doesn't mean that the whole market is rigged, especially if the market is huge.

BrewMaster

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Quote from: BitHodler on July 06, 2019, 02:30:07 PM

Peter Schiff is smart and a man with a plan. He uses his authoritative position to convince people to buy spot gold while most of his exposure consists of stocks of gold miners.

For every 1% that gold increases in value, these stocks go up like 2-3%. In an interview he even admitted that these stocks account for the main part of his portfolio, which just points out how hes only driven by greed.

He knows that gold will not reach $5-10k unless the dollar undergoes hyperinflation. He's just trying to pump his stocks because they function as a leveraged investment tool during actual spot movements.

what most people forget is that whenever someone keeps publicly giving investment advice they are not doing it out of the goodness of their heart. they have a benefit in what they are saying and that benefit isn't something that is going to come to them in 2 years as they encourage others, it will be that day and week.

coolcoinz

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I still find gold and silver interesting and worth having but if you compare these two charts you can see how bitcoin took in gold refugees in 2017 or maybe it's better to say it ripped a hole in gold's value. You can see a sharp drop on the gold chart and a nice big FOMO candle on bitcoin at the same time. Some gold holders got bored after 3 years of waiting on gold to go back up, saw bitcoin rising and sold to jump on the moon rocket. I bet that it will happen again if Bitcoin breaks 20k, gold will go even lower.

pereira4

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Quote from: hatshepsut93 on July 06, 2019, 08:02:06 AM

Quote from: pereira4 on July 05, 2019, 06:56:47 PM

Gold finally gets a little pump after years of stagnation and underperforming when it should have been performing against the ongoing fiat clusterfucks all over, and goldbugs start giving "told you so" lessons.

What clusterfucks are you talking about? Stocks are booming for many years already, while some people are saying that recession is coming soon almost every day. So, no wonder that gold struggles now, and goldbugs are indeed a joke, because how emotional they are about investing. Good investors evaluate potential investments objectively, without letting their personal beliefs interfere with this process, and it's a problem that can plague any investor, not just goldbugs.

The entire market is obviously rigged. When you can pump stocks by printing money you don't get a clear view of what's going on. The metals market are also rigged. Spoofing in future markets is an ongoing thing. When JP morgan's ass was saved when they did the wrong trade on silver back on 2012 which resulted on Blythe Masters being executed.
They meet in chatrooms / telegram and manipulate prices, this is no crazy conspiracy theory. Obviously this is happening in all markets to some extent including Bitcoin but with the difference being that with Bitcoin it's the only thing you can know and audit to be strictly limited in amount so any Maddof scheme attemps to disturb real price discovery are short-lived.

Kakmakr

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Quote from: gentlemand on July 06, 2019, 11:57:21 AM

Quote from: Kakmakr on July 06, 2019, 11:20:28 AM

I have been banned from several of these forums and most excuses was posting "spam" ….so anything related to Bitcoin on a Gold forum is classified as Spam. Grin

Are gold fanatics any more welcome here? I can see why they'd give a Bitcoin fan the boot. They're there to discuss their shininess. I don't have negative feelings about metals but I've no desire to own any beyond having a lump as a paperweight, and I may as well buy some of the fool's variety and save a load of money.

Well not all of them are invested into physical Gold... a lot of them only have a piece of paper that promises them that they own that percentage of Gold somewhere in a vault. Roll Eyes

They trust centralized entities with their wealth and they trust that the digital entry next to their name would guarantee them ownership of that so-called asset/commodity. Roll Eyes

Most of them have never even saw the physical Gold in those vaults... they just trust that it is there. Grin

BitHodler

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Peter Schiff is smart and a man with a plan. He uses his authoritative position to convince people to buy spot gold while most of his exposure consists of stocks of gold miners.

For every 1% that gold increases in value, these stocks go up like 2-3%. In an interview he even admitted that these stocks account for the main part of his portfolio, which just points out how hes only driven by greed.

He knows that gold will not reach $5-10k unless the dollar undergoes hyperinflation. He's just trying to pump his stocks because they function as a leveraged investment tool during actual spot movements.

gentlemand

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Quote from: Kakmakr on July 06, 2019, 11:20:28 AM

I have been banned from several of these forums and most excuses was posting "spam" ….so anything related to Bitcoin on a Gold forum is classified as Spam. Grin

Are gold fanatics any more welcome here? I can see why they'd give a Bitcoin fan the boot. They're there to discuss their shininess. I don't have negative feelings about metals but I've no desire to own any beyond having a lump as a paperweight, and I may as well buy some of the fool's variety and save a load of money.

Kakmakr

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It is one of my favourite pass times to visit the Gold bug forums and then to post something clever about Bitcoin. If you want to see a cluster fuck... then do the same... they hate it. The truth hurts most, if you expose their lies and that happens frequently. Grin

I have been banned from several of these forums and most excuses was posting "spam" ….so anything related to Bitcoin on a Gold forum is classified as Spam. Grin

Disclaimer : I have some Gold investments as part of my portfolio, but it is relatively small. Tongue

TheCoinGrabber

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Okay, I've never invested in metals but from what I've seen they don't really move as much as bitcoin prices. If I only have a limited amount of funds I can use for investments, then I'd definitely go for something that will outpace it.

And what do their holders do anyway when there's a rise? Do they just dump all their cache like people do with their stocks?

1Referee

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Quote from: gentlemand on July 06, 2019, 05:04:33 AM

I don't really get how metal fans don't emphasize the countless ways in which their pet's price is rigged. You'd think they'd want to highlight that as an example of what they're up against.

Gold bugs are deluded mostly. They keep talking shit about central banks and whatnot, but the same entities that they want to see bust are buying Gold like there is no tomorrow. Roll Eyes

I watched a recent video where a Gold bug was talking about how it would be a good time to cash out some profits now the Gold price has seen a meteoric rise in the last weeks. I couldn't do anything but laugh the whole time. Their meteoric rise of 10% is a fart for Bitcoin. Imagine what would happen if Gold would go up 25% more, these guys will probably dump their entire metal stash. Cheesy

hatshepsut93

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Quote from: pereira4 on July 05, 2019, 06:56:47 PM

Gold finally gets a little pump after years of stagnation and underperforming when it should have been performing against the ongoing fiat clusterfucks all over, and goldbugs start giving "told you so" lessons.

What clusterfucks are you talking about? Stocks are booming for many years already, while some people are saying that recession is coming soon almost every day. So, no wonder that gold struggles now, and goldbugs are indeed a joke, because how emotional they are about investing. Good investors evaluate potential investments objectively, without letting their personal beliefs interfere with this process, and it's a problem that can plague any investor, not just goldbugs.

gentlemand

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I don't really get how metal fans don't emphasize the countless ways in which their pet's price is rigged. You'd think they'd want to highlight that as an example of what they're up against.

Crypto fans are pretty smug about this not being the case for them but I have no doubt at all They will attempt the same thing. I only hope crypto's unique qualities are enough to resist it.

figmentofmyass

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Quote from: The Sceptical Chymist on July 05, 2019, 07:23:06 PM

Unbelievable, and I agree with you 100%. I had to check the gold price after reading this thread, as I don't really follow the metals markets anymore. It's at $1399, which is somewhat of a pop I agree, but I don't think it's anything anyone should be pissing their pants over.

Gold and silver have been the worst investments (IMO) since 2011 when they both came crashing down to earth. If you'd invested in the stock market or in bitcoin at that time, you'd have done quite well for yourself. But yep, the same goldbugs keep saying the same things over and over again like an idiotic mantra.

isn't that sort of cherry picking time periods though?

they were fantastic investments between 2001 and 2011. silver rose more than 1100% over that period. very few assets generate returns this strong.

precious metals are much slower moving than bitcoin. it's important to keep that in mind. if we're comparing to bitcoin, then the post-2011 period seen in gold could easily be like the post-2013 period in bitcoin. i see the beginnings of a new bull market when i look at the gold chart today.

The Sceptical Chymist

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Unbelievable, and I agree with you 100%. I had to check the gold price after reading this thread, as I don't really follow the metals markets anymore. It's at $1399, which is somewhat of a pop I agree, but I don't think it's anything anyone should be pissing their pants over.

Gold and silver have been the worst investments (IMO) since 2011 when they both came crashing down to earth. If you'd invested in the stock market or in bitcoin at that time, you'd have done quite well for yourself. But yep, the same goldbugs keep saying the same things over and over again like an idiotic mantra.

When I check precious metals prices, I use coinflation.com, and on that site there are always pro-metals articles. Always, and they're all the same, with the same arguments for owning gold/silver, and they're all bullshit. If these people are anti-crypto, they're even more idiotic.

pereira4

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Gold finally gets a little pump after years of stagnation and underperforming when it should have been performing against the ongoing fiat clusterfucks all over, and goldbugs start giving "told you so" lessons.

Whenever you see a goldbug giving you a 101 on economy and investments lesson (the same goldbugs which told you to buy gold instead of "that Bitcoin scam" since 2012) show them this pic which exposes the mother of all goldbugs:

Unbelievable that this guy and their followers still have the audacity to go around lecturing Bitcoin holders. They should be quietly hiding under a rock at best.

Topic: Reminder: Goldbugs are a joke - page 2. (Read 517 times)