Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 173. (Read 907212 times)

http://www.zerohedge.com/news/2014-06-02/ecuador-transfers-half-its-gold-reserves-goldman-sachs-exchange-liquidity

Monetary base is expanded but liquidity is siphoned out from the masses.

Quote

Ecuador agreed to transfer more than half its gold reserves to Goldman Sachs Group Inc. for three years as the government seeks to bolster liquidity.

The central bank said it will send 466,000 ounces of gold to Goldman Sachs, worth about $580 million at current prices, and get the same amount back three years from now.

Wow. They really haven't been paying attention very much have they.

Ecuador: Let me help you. You're never getting that gold back.

I don't think ecuador has a lot of choice, the deal is probably done by some kind of blackmail or threat

Yeah, probably. But they have to find some way to get Germany's gold back.

This situation with the German gold illustrates the massive advantage Bitcoin has over precious metals. It is way easier to take delivery of Bitcoin than of gold silver etc. When things get tough this can be critical.

My personal experience lies in comparing my dealings with both e-gold and MtGox. In both cases I got out with no loss of funds before the collapse. The difference is how I managed to get out. In the case of e-gold I had to convert my gold into CAD and take delivery of the CAD. In the case of MTGox I had to convert my CAD to BTC and take delivery of my BTC. In both cases I ended up keeping the "delivered" form of money, CAD for e-gold, BTC for MTGox.

rpietila

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Quote from: Pruden on June 03, 2014, 02:46:28 AM

You seem to imply that corporate profit margins are low while they are at the highest level in history, which is the other side of the huge government and household deficits. Merchants can keep revenues and lower wages because the rest of the economy is taking money from the future.

The higher corporate profits, the less functional the economy. In a frictionless economy, the corporate profits would be in rapid tending towards zero. What we currently see is the opposite. The guardians of liberty have failed big time.

sidhujag

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reading the btce chart looks like we testing $620 then $600

Pruden

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Spanish Bitcoin trader

Quote from: isov on June 02, 2014, 07:55:52 PM

Monetary base is expanded but liquidity is siphoned out from the masses. So there is money inflation at the top and deflation of income at the bottom. This prevents prices in retail from skyrocketing as people can't really spend and merchants have to keep prices low - despite inadequate profit margins.

You seem to imply that corporate profit margins are low while they are at the highest level in history, which is the other side of the huge government and household deficits. Merchants can keep revenues and lower wages because the rest of the economy is taking money from the future.

For further reading: http://www.hussmanfunds.com/wmc/wmc130311.htm

donut

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No, we are going to break out of it...
Upside... Cheesy

That's what happened last time:

isov

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Quote from: dnaleor on June 02, 2014, 07:15:13 PM

über bullish case for bitcoin: Will we stay in this range?

Bitstamp 3d chart:

No, we are going to break out of it...
Upside... Cheesy

BitchicksHusband

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Activity: 378

Merit: 255

Quote from: zimmah on June 02, 2014, 07:21:36 PM

Quote from: BitchicksHusband on June 02, 2014, 05:43:30 PM

http://www.zerohedge.com/news/2014-06-02/ecuador-transfers-half-its-gold-reserves-goldman-sachs-exchange-liquidity

Monetary base is expanded but liquidity is siphoned out from the masses.

Quote

Ecuador agreed to transfer more than half its gold reserves to Goldman Sachs Group Inc. for three years as the government seeks to bolster liquidity.

The central bank said it will send 466,000 ounces of gold to Goldman Sachs, worth about $580 million at current prices, and get the same amount back three years from now.

Wow. They really haven't been paying attention very much have they.

Ecuador: Let me help you. You're never getting that gold back.

I don't think ecuador has a lot of choice, the deal is probably done by some kind of blackmail or threat

Yeah, probably. But they have to find some way to get Germany's gold back.

BitDreams

hero member

Activity: 503

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For some sexy chart animation, click the forward arrow at this link: https://www.tradingview.com/v/vdW6XF5v/

My projection is a rest @ 700-730, which is near the base before breakdown in January 2014.

zimmah

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Quote from: BitchicksHusband on June 02, 2014, 05:43:30 PM

http://www.zerohedge.com/news/2014-06-02/ecuador-transfers-half-its-gold-reserves-goldman-sachs-exchange-liquidity

Monetary base is expanded but liquidity is siphoned out from the masses.

Quote

Ecuador agreed to transfer more than half its gold reserves to Goldman Sachs Group Inc. for three years as the government seeks to bolster liquidity.

The central bank said it will send 466,000 ounces of gold to Goldman Sachs, worth about $580 million at current prices, and get the same amount back three years from now.

Wow. They really haven't been paying attention very much have they.

Ecuador: Let me help you. You're never getting that gold back.

I don't think ecuador has a lot of choice, the deal is probably done by some kind of blackmail or threat

dnaleor

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Want privacy? Use Monero!

über bullish case for bitcoin: Will we stay in this range?

Bitstamp 3d chart:

Biodom

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Quote from: BitchicksHusband on June 02, 2014, 05:38:14 PM

Quote from: pinksheep on June 01, 2014, 08:25:45 AM

Quote from: DoomDumas on May 31, 2014, 10:06:41 PM

Hi all..

Thank you rpietila for tha high quality TA.. very appreciated.

Im very bullish but not as bullish as 300k/btc..

When does rpietila think it will hit $300K?

Last year, ha ha. He predicted it by the end of 2013. I think he was a little bit overexcited then.

Interesting...prof Bitcorn-$10, Risto P. (during superexponential stage)-$300000.
If you take log10 of these numbers, then it is 1 and 5.447 and average of these two outliers on a log scale is 3.23856, which comes up to $1732 if you revert back from the log scale.
so, my prediction for year end=$1732.

BitchicksHusband

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http://www.zerohedge.com/news/2014-06-02/ecuador-transfers-half-its-gold-reserves-goldman-sachs-exchange-liquidity

Monetary base is expanded but liquidity is siphoned out from the masses.

Quote

Ecuador agreed to transfer more than half its gold reserves to Goldman Sachs Group Inc. for three years as the government seeks to bolster liquidity.

The central bank said it will send 466,000 ounces of gold to Goldman Sachs, worth about $580 million at current prices, and get the same amount back three years from now.

Wow. They really haven't been paying attention very much have they.

Ecuador: Let me help you. You're never getting that gold back.

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Quote from: pinksheep on June 01, 2014, 08:25:45 AM

Quote from: DoomDumas on May 31, 2014, 10:06:41 PM

Hi all..

Thank you rpietila for tha high quality TA.. very appreciated.

Im very bullish but not as bullish as 300k/btc..

When does rpietila think it will hit $300K?

Last year, ha ha. He predicted it by the end of 2013. I think he was a little bit overexcited then.

Bagatell

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Quote from: Biodom on June 02, 2014, 03:56:14 PM

Monetary base is expanded but liquidity is siphoned out from the masses.

http://www.zerohedge.com/news/2014-06-02/ecuador-transfers-half-its-gold-reserves-goldman-sachs-exchange-liquidity

AlexGR

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There'll be no hyperinflation unless some cataclysmic event or financial war begins.

Monetary base is expanded but liquidity is siphoned out from the masses. So there is money inflation at the top and deflation of income at the bottom. This prevents prices in retail from skyrocketing as people can't really spend and merchants have to keep prices low - despite inadequate profit margins.

The whole situation also disallows people to buy bitcoins, silver, gold etc - in a large scale, things that would make the value of these assets skyrocket. Instead, lack of liquidity forces people to sell their bitcoins, gold etc.

zimmah

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Quote from: findftp on June 02, 2014, 03:52:50 PM

Quote from: Biodom on June 02, 2014, 03:51:03 PM

Quote from: SlipperySlope on May 30, 2014, 10:46:15 PM

Quote from: findftp on June 02, 2014, 03:52:50 PM

Quote

Currently, I suppose that the mining reward is mostly spent on new mining equipment and power. The equipment manufacturers may accept bitcoin payments. So a portion of the mining reward may stay in bitcoin and not be exchanged for fiat. In the summer of 2016 the block creation reward is scheduled to again halve to 12.6 bitcoins per mined block. My logistic model has a trend price of about $840,000 for July 1, 2017. So three years from now, 1800 daily block creation reward bitcoins would have a fiat value of $151 million. Even if converted entirely into fiat, I think that figure is achievable by worldwide investment.

A price of above $840,000 by July 1 2017 is one of the most optimistic predictions I have seen. In percentage terms, how likely do you think it is that that will happen?

If we get to $269,000 by July 1, 2016 then I would say 50%. Otherwise who knows. The Metcalfe's Law model is compelling.

If bitcoin is ever going to $300k, i will be selling 10% for sure

.

Not when a loaf of bread will cost you 50k.
Unless you're dying of hunger

If loaf of bread will be 50K, bitcoin would be 8000K minimal or more likely 800 mil

i think hyperinflation would indeed skyrocket the price of bitcoin, as people will be much quicker to realize bitcoin can save them from hyperinflation very effectively

Biodom

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Quote from: Biodom on June 02, 2014, 03:51:03 PM

Quote from: SlipperySlope on May 30, 2014, 10:46:15 PM

Quote from: Biodom on June 02, 2014, 03:51:03 PM

Quote

Currently, I suppose that the mining reward is mostly spent on new mining equipment and power. The equipment manufacturers may accept bitcoin payments. So a portion of the mining reward may stay in bitcoin and not be exchanged for fiat. In the summer of 2016 the block creation reward is scheduled to again halve to 12.6 bitcoins per mined block. My logistic model has a trend price of about $840,000 for July 1, 2017. So three years from now, 1800 daily block creation reward bitcoins would have a fiat value of $151 million. Even if converted entirely into fiat, I think that figure is achievable by worldwide investment.

A price of above $840,000 by July 1 2017 is one of the most optimistic predictions I have seen. In percentage terms, how likely do you think it is that that will happen?

If we get to $269,000 by July 1, 2016 then I would say 50%. Otherwise who knows. The Metcalfe's Law model is compelling.

If bitcoin is ever going to $300k, i will be selling 10% for sure

.

Not when a loaf of bread will cost you 50k.
Unless you're dying of hunger

If loaf of bread will be 50K, bitcoin would be 8000K minimal or more likely 800 mil

findftp

legendary

Activity: 1022

Merit: 1008

Delusional crypto obsessionist

Quote from: SlipperySlope on May 30, 2014, 10:46:15 PM

Quote from: SlipperySlope on May 30, 2014, 10:46:15 PM

Quote

Currently, I suppose that the mining reward is mostly spent on new mining equipment and power. The equipment manufacturers may accept bitcoin payments. So a portion of the mining reward may stay in bitcoin and not be exchanged for fiat. In the summer of 2016 the block creation reward is scheduled to again halve to 12.6 bitcoins per mined block. My logistic model has a trend price of about $840,000 for July 1, 2017. So three years from now, 1800 daily block creation reward bitcoins would have a fiat value of $151 million. Even if converted entirely into fiat, I think that figure is achievable by worldwide investment.

A price of above $840,000 by July 1 2017 is one of the most optimistic predictions I have seen. In percentage terms, how likely do you think it is that that will happen?

If we get to $269,000 by July 1, 2016 then I would say 50%. Otherwise who knows. The Metcalfe's Law model is compelling.

If bitcoin is ever going to $300k, i will be selling 10% for sure

.

Not when a loaf of bread will cost you 50k.
Unless you're dying of hunger

Biodom

legendary

Activity: 3892

Merit: 4331