Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32556. (Read 26471179 times)
July 22, 2013, 05:35:28 PM
Hoping for some fireworks tonight after a boring day.
July 22, 2013, 05:34:34 PM
This should be interesting...
July 22, 2013, 05:33:23 PM
I said half of it.
http://en.wikipedia.org/wiki/Gold
I guess wikipedia should check their sources ha?
Btw investment is 40%, I think that includes "pure gold rings"
http://en.wikipedia.org/wiki/Gold
Quote
The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.
I guess wikipedia should check their sources ha?
Btw investment is 40%, I think that includes "pure gold rings"
July 22, 2013, 05:27:49 PM
Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
It's bought for bling, that implies value but it's not bought as an investment. It's bought to be used.
Since jewelery isn't even made up of pure gold and is alloyed it's made to be used, a investor looking for a store of value in terms of gold wouldn't care if it's made up of pure gold, even better the alloying wouldn't have to be payed, pure gold bullion is the most popular form of use as investment.
So it does matter if you buy a a bar or coin versus a ring or necklace.
That's bullshit. Metric Investment bars are 99.9 and investment bullion coins are 99.9. Oh and comex 400oz bars are also pure gold.
Again, look it up.
Do you read what you type or just ignore reality and hit the post button?
July 22, 2013, 05:23:08 PM
Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
It's bought for bling, that implies value but it's not bought as an investment. It's bought to be used.
Since jewelery isn't even made up of pure gold and is alloyed it's made to be used, a investor looking for a store of value in terms of gold wouldn't care if it's made up of pure gold, even better the alloying wouldn't have to be payed, pure gold bullion is the most popular form of use as investment.
So it does matter if you buy a a bar or coin versus a ring or necklace.
That's bullshit. Metric Investment bars are 99.9 and investment bullion coins are 99.9. Oh and comex 400oz bars are also pure gold.
Again, look it up.
I don't about your story about 23k jewelery but I suspect you just pulled that up out of your ass.
July 22, 2013, 05:20:00 PM
Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
It's bought for bling, that implies value but it's not bought as an investment. It's bought to be used.
Since jewelery isn't even made up of pure gold and is alloyed it's made to be used, a investor looking for a store of value in terms of gold wouldn't care if it's made up of pure gold, even better the alloying wouldn't have to be payed, pure gold bullion is the most popular form of use as investment.
So it does matter if you buy a a bar or coin versus a ring or necklace.
July 22, 2013, 05:10:12 PM
Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
It's bought for bling, that implies value but it's not bought as an investment. It's bought to be used.
Since jewelery isn't even made up of pure gold and is alloyed it's made to be used, a investor looking for a store of value in terms of gold wouldn't care if it's made up of pure gold, even better the alloying wouldn't have to be payed, pure gold bullion is the most popular form of use as investment.
So it does matter if you buy a a bar or coin versus a ring or necklace.
There even is a difference in terms of investment only vs monetary use with gold. Only alloyed coins are made for circulation.
Gold is soo different from bitcoin.
July 22, 2013, 05:09:49 PM
That's the buying whale, he's willing to buy at 91.6 but does not want to move the price up.
That's because he wants to buy more at 90-ish. So he waits for a selling whale to meet his price.
That's because he wants to buy more at 90-ish. So he waits for a selling whale to meet his price.
July 22, 2013, 05:04:19 PM
Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility.
Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right?
Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content.
About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver.
I believe 5-10% of the market cap of gold is from use in jewelry.
Look it up.
July 22, 2013, 05:03:17 PM
Look at that 2700 BTC buy wall at market price that has just appeared. It is not very visible in ChartBuddy's picture. Everything has gone quiet.
July 22, 2013, 04:50:13 PM
Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility.
Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right?
Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content.
About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver.
I believe 5-10% of the market cap of gold is from use in jewelry.
Look it up.
July 22, 2013, 04:49:33 PM
Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility.
Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right?
Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content.
About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver.
I believe 5-10% of the market cap of gold is from use in jewelry.
July 22, 2013, 04:47:02 PM
Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility.
Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right?
Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content.
About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver.
Bitcoins utility is sending anonymous payments in the black market and website donations. Both rhodium and bitcoin exhibit wild hype cycles and car salesmen personalities trying to pump & dump.
July 22, 2013, 04:41:08 PM
Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility.
Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium? Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right?
July 22, 2013, 04:30:57 PM
Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. The amount on the market is miniscule and many sellers have already blown their load.
+1.
By going up about 5%, Silver just increased its market cap 20 times more than the total of bitcoin's market cap. Silver is tiny, so bitcoin is minuscule.
So much potential here. I'm not calling bears stupid but I can't find a sane reason to short btc even if you think it may drop 50%..the rise may break your neck.
Downside much less than potential upside. Bolded for a reason
MSFT lost 11% on one day last week.
July 22, 2013, 04:27:18 PM
When MtGox finally goes down and Bitcoin is used as it was meant to be, what would you guys do?
There should be two "bitcoins" one for the fool finding bigger fool guys and the other one for using it the way it is intended to be used.What is was way bitcoin was intended to be used in again? As a store of wealth? As a unit of account?
July 22, 2013, 04:25:50 PM
Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility.
Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
July 22, 2013, 04:22:22 PM
When MtGox finally goes down and Bitcoin is used as it was meant to be, what would you guys do?
There should be two "bitcoins" one for the fool finding bigger fool guys and the other one for using it the way it is intended to be used. July 22, 2013, 04:17:09 PM
When MtGox finally goes down and Bitcoin is used as it was meant to be, what would you guys do?
Live life until I die.
July 22, 2013, 04:16:34 PM
Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. The amount on the market is miniscule and many sellers have already blown their load.
+1.
By going up about 5%, Silver just increased its market cap 20 times more than the total of bitcoin's market cap. Silver is tiny, so bitcoin is minuscule.
what happens to a mosquito in a storm?
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