Today & Tonight, Gold is Getting KILLED

gkv9

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!!! RiSe aBovE ThE StoRm !!!

Quote from: markj113 on February 20, 2016, 12:04:06 PM

Quote from: n0ne on February 20, 2016, 12:01:35 PM

This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

And you base that statement on what facts or data?

From personal experience on several precious metal forums most stackers consider bitcoin to be a giant ponzi scheme.

Ponzi???
Yeah right... A reverse ponzi you mean, right???
Because, as the time goes, the rewards get lowered, whereas in Ponzi, you get higher rewards and there comes stagnancy period where that Ponzi scheme f**ks you out of the game and you get nothing...
You just invest, carry on thinking that one day you will become blah blah blah, and then what???
Boom, the company runs away with your bucks, and you cry harder but get nothing...
But wait, BTC ain't a ponzi, if it would have been, you might not have been here on this forum talking about this coin as it would have got destroyed way before...

plost24

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Quote from: Amph on February 22, 2016, 12:32:20 PM

Quote from: markj113 on February 20, 2016, 12:04:06 PM

Quote from: n0ne on February 20, 2016, 12:01:35 PM

This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

And you base that statement on what facts or data?

From personal experience on several precious metal forums most stackers consider bitcoin to be a giant ponzi scheme.

then they are being an idiot, since gold it's also a ponzi scheme if you consider bitcoin a ponzi scheme, their nature is very akin to me

but it's both wrong, since there is no ponzi involved in both

you are right, how can they see a ponzi shema in bitcoin you are the only owner for your bitcoin and the price is all about the market and it is not controled so there is no ponzi in both gold or bitcoin the too is investing methode

Amph

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Quote from: markj113 on February 20, 2016, 12:04:06 PM

Quote from: n0ne on February 20, 2016, 12:01:35 PM

This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

And you base that statement on what facts or data?

From personal experience on several precious metal forums most stackers consider bitcoin to be a giant ponzi scheme.

then they are being an idiot, since gold it's also a ponzi scheme if you consider bitcoin a ponzi scheme, their nature is very akin to me

but it's both wrong, since there is no ponzi involved in both

dloghwak

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Quote from: markj113 on February 20, 2016, 12:04:06 PM

Quote from: n0ne on February 20, 2016, 12:01:35 PM

This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

And you base that statement on what facts or data?

From personal experience on several precious metal forums most stackers consider bitcoin to be a giant ponzi scheme.

To be fair, most stackers are waiting for world war 3 or the apocalypse tho.
Most important these stackers are not the reason for the price rise in precious metals.

JosNekoKopa

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I dont have money to invest in gold because this is expensive from my standpoint but
this is now is great chance for those who have money! Dont ask just buy!

Pab

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Hold,hold gold Gold is over 1200$ level and supply is lover first time in history
Chinise are replacing us debt by gold

OROBTC

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Quote from: JosNekoKopa on February 21, 2016, 10:15:56 AM

Quote from: lumeire on February 20, 2016, 12:06:09 PM

Quote from: n0ne on February 20, 2016, 12:01:35 PM

This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

Gold people are traditionalists, bitcoin and the bitcoin community are the exact reverse, so not in a long time will we see them in here.

Everyone with money will rush to bitcoin, this is not secret.
But to exit from gold to switch to btc i really doubt

Much of the "gold community" does, in fact, NOT like Bitcoin, but the smarter ones do... Wink

What they realize is that BTC is good diversification even if they hold gold, even if they maybe hold a lot.

* * *

Note to people commenting on this thread:

I put this note up on the day AFTER gold's big price jump ($50) to show its partial retracement.

I did not intend for this thread to be a long-running one, there are at least two other threads following gold in general. Again, this was an observation for the Au price drop a few days ago.

JosNekoKopa

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Quote from: lumeire on February 20, 2016, 12:06:09 PM

Quote from: n0ne on February 20, 2016, 12:01:35 PM

This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

Gold people are traditionalists, bitcoin and the bitcoin community are the exact reverse, so not in a long time will we see them in here.

Everyone with money will rush to bitcoin, this is not secret.
But to exit from gold to switch to btc i really doubt

BTCBinary

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I don't think that gold will be losing a lot of value so soon. With the advent of the space industry, there is a new growing need for gold. So, in a way, it will be possible to see the price of gold going up in the following years.

lumeire

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Quote from: n0ne on February 20, 2016, 12:01:35 PM

This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

Gold people are traditionalists, bitcoin and the bitcoin community are the exact reverse, so not in a long time will we see them in here.

markj113

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Quote from: n0ne on February 20, 2016, 12:01:35 PM

This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

And you base that statement on what facts or data?

From personal experience on several precious metal forums most stackers consider bitcoin to be a giant ponzi scheme.

n0ne

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This Statement is just to give a overview of the growing bitcoin market over the gold market.
Soon most of the gold investors would get into the bitcoin community.

markj113

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gold has pulled back the losses, does this chart look like gold is getting killed?

elizabethqueen

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Quote from: OROBTC on February 15, 2016, 10:54:13 PM

...

After last Thursday's impressive $50 price melt-up, it looks like gold is getting hammered in the Far East. The total price decline over the past 24 hours or so is over $30 per ounce (not counting Friday's lesser decline). I can't explain it, so please don't ask...

FYI, gold price is easily available at:

ounce.me (a nice handy little site that also shows BTC, LTC and other PM prices as well as crude oil and the US$)
kitco.com (the coin shops use this site to price their gold coins for sale to the public)
24hGold.com (also has links to other gold and financial info)

The ounce.me site also has a handy BTC:Gold ratio, this would be of interest to anyone buying gold with their BTC.

make sense,gold killed. but i also think that gold is similar with bitcoin,that two is mined,and the amount always change,also with the price,the problem is,gold more hard to get,and bitcoin is more easy.

JosNekoKopa

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Probably people don't realize value of gold is always much greater if you hold!
You can't watch price of gold through dollar, this is so wrong!

STT

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Quote from: squatz1 on February 17, 2016, 11:04:18 PM

Hmmm, I don't know if I should go ahead and invest or if it's going to fall any farther.
Any ideas?

Gold does not change value, gold does not change at all. It does not rust, it doesnt react with air water most acids, cant rot. Even if melted it can be put back together just the same, this is its worth. When the price changes it is the dollar which are moving not the gold because that bit of metal has done nothing from one day to the next where as the change in dollars based in politics and its debt and trade worth is substantial.

If they put dollar rates to 20% as they have in the past briefly then gold price will fall maybe half but this is not the metal being any less useful. The point to buying gold really is long term it will out last the dollar regime. They cannot afford 20% rates as all the debt issued in recent years is payable in the nearer term and the government cannot pay interest on it (without reducing their other budget costs like the worlds largest army etc), I dont think USA can afford 5% rates even.
If or when inflation goes past 5% then gold will have a positive yield in comparison to money, which normally should be impossible as it does nothing and performs no business where as USA and its currency should be returning positive rates on its borrowings

larem

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Quote from: squatz1 on February 17, 2016, 11:04:18 PM

Hmmm, I don't know if I should go ahead and invest or if it's going to fall any farther.
Any ideas?

Nobody knows for sure or they'd be a trillionaire and every other investor in the world would do it as well. You just have to guess based on your own intuition... but gold is usually seen as a somewhat safe way to beat inflation (rather, keep up with it).

squatz1

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Hmmm, I don't know if I should go ahead and invest or if it's going to fall any farther.
Any ideas?

mrflibblehat

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Good idea to buy gold. It' never a bad idea to diversify things.

jmintuck02

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Now, when gold is getting killed, that is a good time to buy a bit o" gold. Just look for the dips and pick up some at the dip. See if you can

hold on for a steeper dip, or as low as you can possibly go before you spring for an ounce or two, or whatever you can afford. Complement

it with BTC.

OROBTC

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Quote from: Kakmakr on February 17, 2016, 02:03:32 AM

Quote from: youdamushi on February 16, 2016, 04:45:27 AM

Quote from: Kakmakr on February 16, 2016, 01:41:19 AM

The saying goes, "When in doubt, buy Gold" but what if my doubts involve the laws governing the ownership of gold. What will prevent governments from prohibiting people to own gold, like they did in the USA. We buy gold in the hope that they will not do that again.

I know some countries do not allow people to buy gold and in Greece they wanted to stop people from buying it too, when things got tough. It might be seen as a safe haven, but it has some regulatory issues too. ^hmmm^

It doesn't matter that you have the right to own it or not. You can always hide it somewhere and the worth of the god will still be good especially in other countries!

What is the value of that, if you cannot use it in open trade? The problem with transporting it to other countries where it has value, is the logistics and the weight. If ownership of gold is forbidden, you cannot simply climb on board of a jet with a bunch of gold bars and wizz to another country. The security at the airport will confiscate all gold before you can take it out of the country. Bitcoin can go through borders without any trouble and that is a mayor advantage over gold.

Bitcoin is a bit volatile at the moment but once it gets more distributed, it would be a perfect alternative for gold ownership.

Well, Kakmakr, I have the following comments to pass along:

1) It is rather easy to take small amounts (say 2 oz or less in small coins) with you through the airport. Be creative...

2) "There is always someone around who will take (= accept as payment) your gold."

3) Yup, BTC goes through airports very nicely! The problem is that BTC is not popular in many countries (like Peru: my "other" beat).

4) You wrote (re Bitcoin):

   "... it would be a perfect alternative for gold ownership."

   I would correct that to:

   "... it would be a perfect complement to gold ownership."

Kakmakr

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Quote from: youdamushi on February 16, 2016, 04:45:27 AM

Quote from: Kakmakr on February 16, 2016, 01:41:19 AM

The saying goes, "When in doubt, buy Gold" but what if my doubts involve the laws governing the ownership of gold. What will prevent governments from prohibiting people to own gold, like they did in the USA. We buy gold in the hope that they will not do that again.

I know some countries do not allow people to buy gold and in Greece they wanted to stop people from buying it too, when things got tough. It might be seen as a safe haven, but it has some regulatory issues too. ^hmmm^

It doesn't matter that you have the right to own it or not. You can always hide it somewhere and the worth of the god will still be good especially in other countries!

What is the value of that, if you cannot use it in open trade? The problem with transporting it to other countries where it has value, is the logistics and the weight. If ownership of gold is forbidden, you cannot simply climb on board of a jet with a bunch of gold bars and wizz to another country. The security at the airport will confiscate all gold before you can take it out of the country. Bitcoin can go through borders without any trouble and that is a mayor advantage over gold.

Bitcoin is a bit volatile at the moment but once it gets more distributed, it would be a perfect alternative for gold ownership.

STT

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Nothing big in the grand scheme, its only a high percentage as gold fell from 1900 already but I imagine 50 will be nothing in the future when it recovers and surpasses previous highs. The thing to watch is the bigger trend which was down even on recent rises unfortunately, takes alot of time to turn around usually

7788bitcoin

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Market ups and downs are very normal. This is how the traders make profits...

larem

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Quote from: 1Referee on February 16, 2016, 05:03:26 AM

It looks like the market price of Gold is totally destructed if you look at the 24 hour chart. If you switch over to the 30 day chart, then it's up more than 13%!!

It's been on a downhill trend for so long, though, that I feel it's most likely just artificial. I have the feeling it's going to drop back down again soon. Though with the world events, maybe not?

1Referee

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It looks like the market price of Gold is totally destructed if you look at the 24 hour chart. If you switch over to the 30 day chart, then it's up more than 13%!!

southafricadude

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ounce.me is a cool site! Bookmarked....thanks for the share

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Quote from: Kakmakr on February 16, 2016, 01:41:19 AM

The saying goes, "When in doubt, buy Gold" but what if my doubts involve the laws governing the ownership of gold. What will prevent governments from prohibiting people to own gold, like they did in the USA. We buy gold in the hope that they will not do that again.

I know some countries do not allow people to buy gold and in Greece they wanted to stop people from buying it too, when things got tough. It might be seen as a safe haven, but it has some regulatory issues too. ^hmmm^

It doesn't matter that you have the right to own it or not. You can always hide it somewhere and the worth of the god will still be good especially in other countries!

Kakmakr

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The saying goes, "When in doubt, buy Gold" but what if my doubts involve the laws governing the ownership of gold. What will prevent governments from prohibiting people to own gold, like they did in the USA. We buy gold in the hope that they will not do that again.

I know some countries do not allow people to buy gold and in Greece they wanted to stop people from buying it too, when things got tough. It might be seen as a safe haven, but it has some regulatory issues too. ^hmmm^

OROBTC

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Quote from: The Sceptical Chymist on February 15, 2016, 11:47:46 PM

Sir! I'd say gold is holding its own pretty well, and silver is not faring poorly either.

I'm thinking about buying some sort of gold coin with some spare bitcoin, probably through Provident. Like a Mexican gold 5 pesos or some such. Gold dipped a little, but I think it's just that, a dip. I don't think it's getting killed.

I can highly recommend Provident, I have bought from them some six times, all w/ Bitcoin. Shipment takes less than a week (usually...).

Gold (of course) has been doing very well over the past few weeks, but its moves last week, as well as today/tonight are very dramatic (I did of course, write an inflammatory Subject Title here, smile,,,).

Short-term my predictions (guesses) re gold price are worth very little. Given some time, however, I believe gold will go way up vs. most other investments. Buying little by little is what I have done for decades (since 1985 or so). I remember how *SHOCKED* I felt one time paying $500 ($500!!) for a mere ounce of gold... LOL

I have bought as income permitted. I am at about 11% in gold of my net worth. 1% - 20% is a reasonable (and very wide) range. Remember that only some 2% of Americans own ANY investment (non-jewelry) gold, so even if you wind up with just 2 ounces (say) in your "stack", you are way ahead of most people.

Buying small-sized gold coins is a great strategy if you do not own much. Mexican 5 peso coins as well as 1/10th oz Eagles fit the bill nicely.

EDIT: Provident does charge 1% more for Bitcoin payment, argh.

EDIT 2: To correct spelling errors.

The Sceptical Chymist

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Sir! I'd say gold is holding its own pretty well, and silver is not faring poorly either.

I'm thinking about buying some sort of gold coin with some spare bitcoin, probably through Provident. Like a Mexican gold 5 pesos or some such. Gold dipped a little, but I think it's just that, a dip. I don't think it's getting killed.

OROBTC

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...

After last Thursday's impressive $50 price melt-up, it looks like gold is getting hammered in the Far East. The total price decline over the past 24 hours or so is over $30 per ounce (not counting Friday's lesser decline). I can't explain it, so please don't ask...

FYI, gold price is easily available at:

ounce.me (a nice handy little site that also shows BTC, LTC and other PM prices as well as crude oil and the US$)
kitco.com (the coin shops use this site to price their gold coins for sale to the public)
24hGold.com (also has links to other gold and financial info)

The ounce.me site also has a handy BTC:Gold ratio, this would be of interest to anyone buying gold with their BTC.

Topic: Today & Tonight, Gold is Getting KILLED (Read 1552 times)