Stock market crash - 5 % overall - page 2.

cypherdoc

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Quote from: finnthecelt on August 05, 2011, 11:11:39 AM

Quote from: cypherdoc on August 05, 2011, 11:04:39 AM

looks like to me they're trying to take down gold and silver...

It's more of a margin liquidation. If they really want to smash the crap out of silver though now is the time to raise the COMEX marging requirements.

Of course all they'd do is force a lot more physical metal off the market.

whats interesting is that yesterday i sold a bunch of Krugerands to my local coin dealer. at first he tried to cut his offer price to $5 below spot. his excuse was that there was a ton of Krands coming to market. eventually he gave me spot but only b/c i run alot of biz thru him.

they've already raised Comex margin reqs a few times b/c of the leverage involved. i think they're going to be successful. they have no choice but to get it down b/c too much money has been heading into them for the last 11 yrs b/c of their reckless policies. everything comes to an end.

finnthecelt

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Quote from: cypherdoc on August 05, 2011, 11:04:39 AM

looks like to me they're trying to take down gold and silver...

It's more of a margin liquidation. If they really want to smash the crap out of silver though now is the time to raise the COMEX marging requirements.

Of course all they'd do is force a lot more physical metal off the market.

finnthecelt

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Quote from: HappyFunnyFoo on August 04, 2011, 06:00:56 PM

I'm super long stocks and have 95% of my assets in them. I've more than doubled my initial investment since I started buying in Feb/March 2009 (held cash until the Citigroup memo leak that started the rally).

Bitcoin gains are like taking steroids - you might double or triple your size, but in the end you'll end up with nothing and disappointment. Stock market gains are, well, awesome, and buying during historically 'bad' times for the market yields an average of 10%/year in return, even if you just randomly buy companies. Anyone putting more than a couple of bucks in a technology which is in early beta and based upon encryption that's going to be obsolete in four years is nuts.

Taken a look at the Dow:gold ratio over the last 10 years? You think you're making money? lol

cypherdoc

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looks like to me they're trying to take down gold and silver...

Phinnaeus Gage

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Bitcoin: An Idea Worth Spending

Quote from: indicasteve on August 04, 2011, 03:25:43 PM

Meh...just went to the beerstore and beer is still the same price. No effect here.

For the first time, yesterday, I saw the new sized Folger's Coffee tubs. I first thought there was a sale till I reached for it. And I was only joking the other day when I posted about the individual ketchup packages soon to be priced the same as the old 12(16)oz GLASS bottled Hunts.

TraderTimm

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Been waiting for this POMO-Fattened market to roll over. We're getting some dip-buying early today, but it looks like the erosion will continue towards the close. Woe to anyone thinking equities is a 'safe' haven.

cypherdoc

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Quote from: indio007 on August 04, 2011, 10:28:05 PM

Bank of New York Mellon is charging to deposit money in an account.....

how rapacious is that?

indio007

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Bank of New York Mellon is charging to deposit money in an account.....

T-Bill's are paying ZERO interest....

Mutual Funds have the lowest cash on hand since .... ever....

Yesterday's Bitcoin panic was a blip compared to what is happening in other markets....

Viva la Bitcoin!

cypherdoc

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Dow 4000 here we come.

Bitcoin Swami

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Quote from: lemonginger on August 04, 2011, 09:00:21 PM

LOL @ anyone long stocks. You better pray for inflation, in which case your money would be better in PMs anyway. I agree it is silly to think of bitcoins as they currently stand as a good store of value, but if ppl want to think of them as a high risk high reward investment that's fine.

You do realize the entire global economy is on the verge of another large tailspin right (by which of course I mean we never actually left the first one, only ignored it for a bit). The longer you delay the inevitable, the more violent the contraction.

I feel the same. Stocks are the last thing I'd be in, long.

lemonginger

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firstbits: 121vnq

LOL @ anyone long stocks. You better pray for inflation, in which case your money would be better in PMs anyway. I agree it is silly to think of bitcoins as they currently stand as a good store of value, but if ppl want to think of them as a high risk high reward investment that's fine.

You do realize the entire global economy is on the verge of another large tailspin right (by which of course I mean we never actually left the first one, only ignored it for a bit). The longer you delay the inevitable, the more violent the contraction.

FlipPro

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Quote from: HappyFunnyFoo on August 04, 2011, 06:00:56 PM

Anyone putting more than a couple of bucks in a technology which is in early beta and based upon encryption that's going to be obsolete in four years is nuts.

You're a liar.
https://en.bitcoin.it/wiki/Myths#Quantum_computers_would_break_Bitcoin.27s_security
Bitcoins security mechanism can be upgraded at any time... It is SHA 256 at the moment because that is current industry standard.

jackjack

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May Bitcoin be touched by his Noodly Appendage

Quote from: HappyFunnyFoo on August 04, 2011, 06:00:56 PM

I'm super long stocks and have 95% of my assets in them. I've more than doubled my initial investment since I started buying in Feb/March 2009 (held cash until the Citigroup memo leak that started the rally).

Bitcoin gains are like taking steroids - you might double or triple your size, but in the end you'll end up with nothing and disappointment. Stock market gains are, well, awesome, and buying during historically 'bad' times for the market yields an average of 10%/year in return, even if you just randomly buy companies. Anyone putting more than a couple of bucks in a technology which is in early beta and based upon encryption that's going to be obsolete in four years is nuts.

Agreed
I love FUD too
The sky is falling SELL SELL SELLLLLLLLLLLLLLLLL!11!!!!11!

HappyFunnyFoo

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I'm super long stocks and have 95% of my assets in them. I've more than doubled my initial investment since I started buying in Feb/March 2009 (held cash until the Citigroup memo leak that started the rally).

Bitcoin gains are like taking steroids - you might double or triple your size, but in the end you'll end up with nothing and disappointment. Stock market gains are, well, awesome, and buying during historically 'bad' times for the market yields an average of 10%/year in return, even if you just randomly buy companies. Anyone putting more than a couple of bucks in a technology which is in early beta and based upon encryption that's going to be obsolete in four years is nuts.

evolve

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daytrader/superhero

Quote from: S3052 on August 04, 2011, 03:34:12 PM

Impact could be on individuals who are long stocks. If they get wiped out / lost a lot of money in the stock market, and have a lot of BTC, they may sell some BTC to get back some cash.
But I doubt that so many BTC holders are also big Stock holders.

i fall into this category.....stocks are my major investment, and im definately long (buy and hold

). right now my positions are up 1% for the year...saw a lot of profit disappear this week

BTC is more speculation for me (though i have no intention of cashing out anytime soon) and ive only invested a small amount due to risk....

S3052

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Quote from: fastandfurious on August 04, 2011, 03:06:05 PM

The big indices in US are down around 5 % at closing. What kind of impact do you guys think this have on the bitcoin economy (if we think that the turmoil continues)?

Impact could be on individuals who are long stocks. If they get wiped out / lost a lot of money in the stock market, and have a lot of BTC, they may sell some BTC to get back some cash.
But I doubt that so many BTC holders are also big Stock holders.

finnthecelt

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I'm more curious to see what happens when the global fiat train wreck compiles at the bottom of the cliff.

That will be the real test for BTC.

lemonginger

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firstbits: 121vnq

wooo baby, nothing like the smell of a little panic and fear at the end of the day.

sure glad I doubled down on SDS a few weeks ago with the impending debt talks about 2nd quarter GDP.

Just wait until the chain of European defaults starts.....

indicasteve

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Meh...just went to the beerstore and beer is still the same price. No effect here.

indio007

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Profit taking + panic = selloff

Sounds oddly familiar to something ..........

Topic: Stock market crash - 5 % overall - page 2. (Read 4259 times)