Silver Slams Higher As Bitcoin Hysteria Shifts To Non-Electronic Money
It would appear that physical assets trump digital assets this morning in Europe as Silver has just spiked over 1% (and Gold back over $1615) as Bitcoins plunge on heavy volume... Did the Europeans run out of Bitcoins? Given the lack of movement in 'traditional' currency markets, one has to wonder just how much faith has been lost in the folding fiat fiasco.
Gold is also starting to jump now...
Charts: Bloomberg and BitcoinCharts.com
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See if silver can keep from getting slammed back under $29 now. The cartel has been ruthless holding $29 lately
If gold can get over $1620 maybe the short covering magnet can pull everything up with it.
I'm giving up and selling my silver on this mornings bounce. Ben B. has made it clear: if you buy Nexflix, Groupon, Facebook, LinkedIn, Google, etc. you make money...anything else, the Fed will crush you. I finally got the message!
You would reget that decision in a few years.
years?
Who controls bitcoin?
CIA
Indeed metals performed better than bitcoin on this 2 hours timescale. Nice troll Tyler !
Just kidding! Wouldn't dream of selling my silver. But I did switch from SLV to USLV yesterday. That's how confident I am in a big move soon
If you don't hold it in your hands, you don't own it. You only have a paper claim on a paper asset.
It's not a claim, it's not even paper...
Still, it's something nobody can create outside of the very transparent and predefined issuance program.
What is backing up the value of bitcoin..??
Faith. A whole lot of faith.
Credo, credere, in Latin. Belief in English.
Do you think storing value in a limited, impossible to counterfeit currency is valueless ?
Do you think storing money on a usb stick or even the cloud, and transfering it anywhere in seconds for next to nothing is valueless ?
Ha Ha LOL the Fucking bankers didn’t see this one coming!
The Euro PIIGS are using Bitcoin to move their savings out of the Euro zone ergo creating a demand for the electronic currency. This is just what Bitcoin needed to become legit, and out side of their squids reach.
Io non mangio con Roth Hyman.
Frank Pentangeli Godfather II
"What is backing up the value of bitcoin..??"
~~~
See ~ What you get is a virtual shotgun, which, according to a holographic Joe Biden, you virtually fire into the air, TWICE, to scare off any potential perps...
It's THAT easy & convenient...
1. wake up to find this
2. check btc price
3. all-time high @ $73
PS. Eventhough I'm a huge proponent, I think this is a bubble. I'm back to the silver stack here.
yeah, WTF kind of currency goes up and down in price like Bitcoin? Sure I can see 1-.5% move like a normal currency.This is a total fucking FED CIA jizz bubble ready to expolde in their face...
We are watching the panic heard of sheep funneling into the slaughter house in real time
So what can you buy with bitcoins?
You can buy a lot of stuff, including PMs. /r/bitcoin is the place to go.
This bubble gotta pop, it's totally parabolic. I'm not selling btc, I'm taking the hit, and I'm back to PMs, which are really fucking cheap. When you need 22 bitcoins to get an ounce of gold, and this happened in the space of 4 months, it's time to take a breath.
Such high volatility is probably normal in a currency that begins its levitation. An event we haven't ever seen before.
Yes, it's worthless. #1: Who wants a currency where every single transaction can be traced? #2: Who wants a currency that is worthless in a power outage? #3: Who wants to store value in an open source currency with no barriers to entry? If bitcoin really catches on any other well-heeled entity large enough to run an affinity program can create a competing version, which would result in a huge decrease in purchasing power for holders of the original bitcoin branded currency. #4: There are serious problems with the way that bitcoins interface with bank accounts, because transactions in one are reversible and in the other they are not. Thus the potential for getting scammed is high. As is the potential for having your storage location robbed, or your storage media corrupted resulting in a loss. In short, bitcoins suck and are nearly worthless.
And according to the market, your opinion is worthless.
The Bitcoin Channel
Oh great! An easy & informative WEBSITE... Just in time for granny to get interested [& for about 10,000 'fake' GET YOUR BITCOINS HERE websites to start popping up, so granny can cash in her tea set, set up a PAY PAL account, & wire the funds to UPPER VOLTA]...
~~~
That ought to instill confidence going forward... [now that the 'Nigerian Prince' scam has worn out its welcome]...
you forgot to blame the jews this time
#5 Regulatory risk (see InTrade) If bitCoin ever becomes big enough to be of a real irritant (i.e. being in the news too much) then it will get punked by some govt entity in the name of public good
#6 Hacking - These fools get hacked with some regularity and it seems to shave quite a bit of value off every time there is a "forked-branch" or "fucked-branch" not sure which
If you are investing in bitCoin you kinda deserve what is coming to you
You're talking about the profits, right ?
I am so sick of hearing this argument that bitcoin is "limited". Listen, it's a cryptographic pair system essentially, right? I other words its a finite set of numbers culled from the infinite set of all numbers. Well, guess what, there is an infinite number of such sets. Simply change the algorithm or the seeds and presto! You have just created BitCoin2! It is a new, limited, set of keys. So what do all the BTC-heads think is going to happen if BTC exchange rate just goes parabolic like they all hope? Does anyone really think that another competing BTC set won't be created by people unwilling to pay $25k per BTC? Now you have another competing currency with ALL THE SAME PROPERTIES AS BTC! Get it? Now it's just an adoption race. BTC will have first-mover advantage but absolutely nothing stops others from choosing to transact in BTC2 or BTC3.
You really think if this sort of digital currency paradigm starts threatening the petro-dollar or the yuan, or any other currency back by the full faith and credit of an army that government players will not get involved somehow? Either by soaking up and manipulating BTC like any other currency, or by creating competing BTCs tied to violence and oil.
I am open to rebuttals but thus far I have not seen a single argument that explains how BTC-next is not a threat to BTC-original. Only the set is limited, the set of sets is infinite.
"BTC will have first-mover advantage"
Which is pretty much all that is needed. See eg Windows
"BTC will have first-mover advantage"
Which is pretty much all that is needed. See eg Windows
ROFL, see eg MSFT @ ~$28
I'll wait til uncle warren announces investing in bitcoin
If it's faith that a superior system will make the present one obsolete, then yes
The ability to buy drugs online pretty much.
Scarcity, contrasted with infinite fiat.
uhhh, physical, physical, physical, physical... and then more physical.
Caracalla,
That is only paper; not silver.
SUCKA !
Don't be a silvertease......I was going to send you my email address, got pretty pieces of paper issued by the Fed for trade.
"Wouldn't dream of selling my silver. But I did switch from SLV to USLV yesterday."
Jesus fucking christ.
I'm moving to silver paint cans - best of both worlds: physical and can be put on paper, too - you just couldn't ask for better!
Then, I'm moving into the gold paint market: I'm gonna print me some nice bitcoins, paint them gold, and sell them on ebay, right next to the chinese gold coins.
I'm super totally confident about this new approach of mine, after all, you have to embrace this new age of e-conomy! YAY!
Because we love ya....
The article below more than covers all the anti bit coin rhetoric the blog can muster.....
Long long ago I told you this when btc was 10£ I am telling you again now many of you will wait till 1000£ .....
But never say we did not try to educate you....and yes I am much more into pm ....I like btc for the same reason I like take aways that cook the food in front of you.....nothing hidden...
https://en.bitcoin.it/wiki/Myths
I always thought this was how TPTB were going to make the shift to a completely electronic currency. Make the people think it's their choice. The longer BTC survives, the more I believe in my thesis...if BTC were a true competitor, they'd have been crushed by now!
Your thesis is circular. Maybe TPTB don't have as much power as you think they do?
The Bitcoin Channel
Not only is my thesis circular, but so is my investment choice (gold bullion). And if TPTB have half of the power and influence I think they have, we're still in trouble....
He said "controls" not "trolls".
Descartes, Maxwell, Gauss, Ramanujan, Euler, Riemann, Euclid, Hilbert, Leibniz, et al.
Oh noes, a conspiracy of boring dead guys!
"Who controls bitcoin?"
Clearly not you
edith bunker