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Is Bitcoin Greatly Rotating Into Bullion?
While correlation is not causation, the coincidental timing of the tumble in virtual currencies and the surge in physical (alternative) currencies suggests another great rotation may be occurring... with gold at fresh 3-month highs as Bitcoin presses 3-months lows...
While not surprising, the chart above also shows the massive collapse in Mt.Gox pricing as the world and their virtual pet rabbit run for the exits...
Gold is now up over 12% from the post-Taper lows...
and Silver is exploding higher... up 15.6% now in February alone.
Charts: Bloomberg and Bitcoinwisdom
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Oh yeah... it's "done" you fucking tool haha. The Chinese and Russians are not cracking down on Bitcoin because that is impossible.
Guess you missed this headline phoney.
Bitcoin declared illegal by Russian authorities Russian can sic its hackers to fuck it up day and night. Legally. Mt. Gox Halts ALL Bitcoin Withdrawals, Price Drop Follows - CoinDesk AND ITS GONE. BYE BYE SHITCOIN.
Copy/Save. Gonna be funny to revisit posts like this in 5 or 10 years. Like looking at P. Krugman articles about how the internet was a "passing fad that will have no lasting impact". LOL.
You have the reasoning skills of a teenage girl.
Are you seriously using the fall of Mt Gox (a single, widely discredited exchange run by an idiot), as a measure of the health of the entire Bitcoin ecosystem?
not for lack of trying.
gold, silver, copper, bitcoin.
http://www.kitcometals.com/charts/copper_historical_large.html
copper has a nice bottom YTD in.
Still well off the highs of December.
If bitcoin is acting as a proxy for actual cash then i could understand the inverse relationship between gold and bitcoin (as bitcoin rises gold falls in price.)
who wouldn't want the real thing of course.
trading actual gold for bitcoins seems beyond belief however.
you'd definitely want a very secure exchange if that's the plan.
Bitcoin - for idiots!For Smart - Gold!
Time for @fonestar to retain some of FB's click farms to buy him some likes / up arrows.
Bitcoin is almost a non-event. The reason why gold is going up is because the funds are no longer selling GLD.
Bitcon.! I can't see why anyone could believe in Bitcoins as an investment. If the thing works, fine for trading, but as an investment??, then only physical old! Nothing else.
There will be max2205, bet on it!
EDIT:
I see you were right before I could finish my reply... :)
Maxcoin??
Max Keiser (yes, that Max Keiser) launched his own digital coin a few weeks back. Check it out here:
https://www.coins-e.com/exchange/MAX_BTC/
fonestar is stoked for the launch of Max's own coin!!
"Max Keiser launched his own digital coin"
New alt coins are being launched almost every day. All you need is a few software guys to monkey with the existing code, change a few parameters, build a website, and entice a few kids to start mining the new coin with promises of instant wealth.
Most of these new coins die in a few weeks. It's not an important event.
Yes! MaxCoin!!
Max Keiser fucked up the "Buy silver Crash JPM" movement and then he jinxed bitcoin.
Do people really still follow him?
Should be a ton of comments on this one
75% of them posted by fonestar.
No rotation.
Gold owners would never be stupid enough to trade in their asset in favor of pretend money.
Bitcoin owners... well, they'd be stuck with their Winklevoss-bits till exchanges lifted redemption restrictions, which is, until the price recovered within a spitting distance of the last peak. And good luck with that.
The answer to the question is: no.
Well, Ned Z, I converted some BTC into a 0.25 oz Gold Eagle about two months ago... Short-term, though, I think you would be right, now it takes over 2.00 BTC for an ounce, a week or two ago it was 1.50 or so. Not so favorable.
Bitcoiners want something that has intrinsic value as much as they want to go outside.
I think that is the smartest thing you have said in like 8 months!
When bitcoin matched gold I called the high. Even the greediest of fucks has to know to trade a fake coin for an ounce.
One Bitcoin is going to buy you alot more than one single gold coin in the years to come.
Um. No. This was the run up. For it to get more wide spread, people have to use it, and all the early adopters are hoarding them. If they do use them and it becomes wide spread, the value goes down not up. This is precisely why they are hoarding them. Peter Schiff has been horrible with predictions the past five years, but he did make a great point that widespread adoption is bearish for price. The merchants taking them have to sell them for dollars. This selling drives price DOWN.
Also, there are better alternatives coming onto the market. I own some of the other crypto currencies just for speculation, so if btc enters mania phase it will lift all the crap coins with it. So, I kind of hope it does, but it is more likely we saw the top at 1:1 with gold.
.
Funny as a sea cucumber ejecting its innards.
No. The current situation does not allow to draw that conclusion. It does not correspond with reality.
One Bitcoin is going to buy you alot more than one single gold coin in the years to come
Maybe one of those beautiful plated Buffalos with 14 milligrams of .9999 pure gold
There was a video making rounds of a guy trying to sell silver an gold coins to strangers for ridiculously low sums and most people turning down the metals, not knowing their actual worth.
I would love to see a show with Fonestart trying to sell QR codes to strangers for the price of a bullion.
BitWho?
fonestar bytes.
fonechar in bits?
I can't wait to buy his at $10.00
"fonestar bytes"
More like fonestar bites
Foney I love you, but Beany-Baby and CABBAGE PATCH dolls in their day, had bigger CAPITILIZATION than BTC, and now nobody has ever heard fo them, and it was only 15 years ago.
What will happen in 10 years is that nobody will have ever heard of 'BTC', or any kind of crypto-currency, where some UKRANIAN 'mining operation' could create 5 Billion USD in wealth out of thin air, these things always end in NOTHING.
Even now on EBAY cabbage patch dolls and beany baby have valule, and I personally know people with garages full of them 'waiting' for them to come back.
We will never know how long "FONEY" holds to this, perhaps he'll die looking at his BTC-WALLET on his vintage PC, but the fact is in 5+ years the average person will not have a clue to what a BTC is-was.
*
IHMO the WORLD, and especially the USA has played this toilet paper wealth cycle to the MAX, and in coming years, yes all MONEY will have to be backed by REAL WEALTH.
Crypto-currency's mined by 12 year old's in HK will just be a SIGN of end times for paper-money, NOT backed by GOLD.
*
Foney, I love you, how about we creating a new band-wagon and putting all this good energy into that?
"Beany-Baby and CABBAGE PATCH doll"
The difference is that Beanie Babies have at least a small intrinsic value, because they can be used as a children's toy. A few years ago I bought 12 BB's for $10, perhaps I overpaid, but I got $10 worth of enjoyment out of owning them.
The problem with Bitcoins is that they are a problem to use, to handle, to store, and to manage. There is no intrinsic value to them compared to art for example, even if you overpay for a painting, at least you might use it to hang on the wall, and you can enjoy collecting gold coins from different countries and historical eras.
And with governments sniping at Bitcoins, they could even have negative value, in the sense that holding them is more trouble than it is worth.
erg say bitcoin good. *channeling fonegwar*
fonewar engaging in spamtoshi is a good way of putting it.
Satoshi-San, love pornstar,... me thinks we brothers. Perhaps re-incarnated from previous life to this realm for what? Punishment or Reward? :)
Run rabbits run!!!
However, we can only promise you anonymity without the costs of i-shit, encryption, accounts, electricity or internet ;-)
Speaking of iShit could any of the resident fake libertarians explain why TPTB's darling AAPL is so anti-Bitcoin? If TPTB are so behind Bitcoin, shouldn't they be pushing it hard?
My guess, and that is FWIW (very little), is that Apple wants to do an iCoin. AAPL even cut off Blockchain's app which AFAIK did not support commerce, just information, curious move that...
fonestar hopes they do iCoin. It will be funny to watch it flop as their company is old news.
Don't say that! That means I trashed my i-Phone and bought a Motorola Droid Maxx for nothing.
Apple is anti-everything it can't monetize
Bring on fonestar!!
fonestar is here unmolested!!
You might be unmolested but bitcoins are taking it in the A$$, and I doubt your as happy go lucky as you appear.
Hoping for $500 Bitcoin by the time fonestar's tax return is ready.
Lets see you attempt to purchase something with your SHITCOINS(TM) in Siberia.... They'll tall ya to go pound salt in the gulag.
If you can't hold it, you don't own it! Period (.)
Oh yea.... Hey PhonyStar, hows that 500.00 level that you don't care about feeling now?
LMAO
GOLD- Everywhere you want to be (TM)
The people of Siberia are big into Bitcoin and the laplanders are too.
https://www.mtgox.com/signup
In three days you will be able to get them for $3 at Gox.
My reaction to people who refer to themselves in the third person or by using the royal 'we' is the same as my reaction to guys who wear blue dress shirts with white collars that have to be from Penneys and sport a golf course tan (talkin' to you Angelo) - I just instinctively don't trust them. Color me superficial.
The price suppresion backfired massively, creating record levels of physical delivery. Prices now have to rise to quell physical demand.
Its going to be a great decade for PM's, keep stacking Bitchez !!!
Yes, I would agree. But, what if we are running low on space...?
:)
:p
|;.! <--- His name was Mr Lennon Hendrix
We are all Tyler Durden now.
Can we live in Switzerland too?
brought to you by ABC media AKA Disney corpse. HUUUH HUUH
A rotation from virtual currency to virtual GLD? Nice move.
Lets see you attempt to purchase something with your SHITCOINS(TM) in Siberia.... They'll tall ya to go pound salt in the gulag.
If you can't hold it, you don't own it! Period (.)
Oh yea.... Hey PhonyStar, hows that 500.00 level that you don't care about feeling now?
LMAO
GOLD- Everywhere you want to be (TM)
BitCoin is far more acceptable than gold as a payment, and gold has had 5,000 years to prove itself as an acceptable form of payment, and BTC has overtaken it in 5 years. In modern history gold itself was not even used, a paper substitute was used - proving that the monetary properties of gold have limitiations - especially with portability, divisibility and fungibility.
BTC is accepted by many merchants across the world for a wide range of things, try going into those same shops - hell any shop and paying with gold, or even with silver.
I love gold and silver, but I am not so foolish as to impute qualities to them that do not exist. BTC is exceptionally good money, and its rate of acceptance over 5 years is a very strong indicator of its future potential.
Gold and silver are the ultimate forms of savings, nothing is as durable as gold - but as far as the rest of its monetary properties - crypto shits all over it. Crypto is more divisible, portable, fungible, acceptable, secure, limited in supply - ya, BTC is simply better money than gold in almost every way -except for durability, which is why holding gold and silver makes a tonne of sense - but failing to hold any BTC or crypto at all, is as stupid as not owning gold.
"Bitcoin is money, and nothing else." J.P. Morgan
PS...for the dude that gave me a thumbs-down...I was kidding. Wow...went sailing over someone's head!
"Bits are money, everything else is bullshit."
~JP Borgan
If you're going to quote someone, make sure it's right.
h/t Twitter. Cite your source.
BTC may be 1% of daily Gold trade. but there is 1% phys backing for phys Au to paper Au, so all the BTC could buy the physical.
never bought BTC. glad i didnt at $1000 (seriously looking at buying but then. fuck i am a sheep...lucky i am lazy and didnt have the powder due to pending tax bill)
anyway, you cant make fun of fonestar until btc is below $16, and i am sure he will liquidate before then.
would you make fun of someone that bought silver for $16, didnt sell it at $48 but later liquidated at $30? of course you wouldnt, he still up compared to almost every other asset.
i just think fone should sell why he is still miles ahead, and not wait to be only a few meters ahead.
NASA and alchemy – it’s the last two bullets Fed, against gold.
In the world media is already unfolding speculation that NASA will soon be mine gold in cosmic space. Smart people understand, that the price of this gold will be much higher, than the most expensive mining on our planet. But most of the fools believes in it blah blah blah of Fed.
I don't know shit but if BTC is causing the gold/silver spike OMFG if the masses lose confidence in the dollar and run to gold. Its g5 and hot bitches time.
I've studied every chart. ] soliloquies> Bitchez\
I've got some thanks to give.
Eamonn I'm disapointed?
Stupid, at the peak BTC capitalization was 10 Billion, now BTC is down 80%, so its like 2 billion, that is enough gold to what go shopping at k-mart for a nigerian dictator?
Then assumption here is that the 10 billiion of evaporated wealth in BTC ( 12 B -> 2 B USD ) was sold and bought GOLD, but that is BULLSHIT, as all that happen is those who created BTC for free sold to BUYERS, but there was never any real wealth, and those who sold used that CASH, for expense.
Even now the BTC exchanges try to control the collapse of BTC, but its a controlled collapse.
But BTC collapse doesn't have a fucking thing to do with GOLD.
Let's see the CHINESE bought say 2,000 tons of GOLD last year.
That's $900 BILLION USD in GOLD ( ? ), ... so at best it has NOT a fucking thing to do with the MAYBE billion USD that was stolen from idiots that paid REAL CASH (USD) for BTC.
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GOLD is/was MAYBE effected 1/900 by BTC, in other words 0.0011 is how much BTC effect GOLD at BEST.
FUCKING BULLSHIT STORY
It is a wise move as we near the collapse of the financial system.
Food and Insulin is good also.
Insulin? You should be lifting weights. A set of free weights is cheap.
Bitcoin is here to stay losers. I'm not quite sure how you guys still have faith in paper rectangles with pictures of dead guys drawn on them. They're not even unique, like a bitcoin is. You realize that your bank account doesn't actually have those dollars, don't you? It's just a number on a screen that the bank controls, so you're already in 'digital money' whether you like it or not. You're just paying some evil jackasses to handle your account for you. I'm sure they have your best interests at heart.
Cabbage Patch DOll is here to stay
Beany Baby's are here to stay
Tulip's are hear to stay
All grand popular delusions in HUMAN history, never go away, there is always somebody somewhere holding on to the delusion.
*
The market is VERY-VERY small.
I can see in 2+ years maybe 2-3 exchanges for BTC all ran by FONESTAR,
the BID/ASK will be 10 to 0.00001 in milli-grams of gold.
*
There are old Japs in the Jungles of Asia, who are still hiding since WWII, go tell them the 'war is over'.
In 2 years time there will be no exchanges at all - they are being disinter-mediated, the exchange system is going to be 100% decentralized - the banksters will then have nowhere to attack at all.
That BTC market that you describe as 'very, very small' is a market that was worth zero 5 years ago, and it expanded exponentially. BTC is weathering some extreme attacks, but it has not gone away - and has shown extreme resilience to the bad press, exchange failure, DDoS attack, association with money laundering and illegal trade - this resilience is creating confidence.
Silver, gold, and crypto is a diversified strategy to protect savings - banks, fiat and govt have proven to be nothing but a criminal enterprise.
Bitcoin makes absolutely no sense to me. It's only viable market is illegal. I've made up my mind, so fuck off trying to sell me on this shit.
You fuck off. The Bitcoiners are going to totally destroy your society and your "laws".
I guarantee you have shit in bitcoin. Probably not even 100. You bought a lottery ticket and think it's going to win. It won't.
We will see won't we dipshit?
I think usd/jpy is going to breach 100.
This is news? Who didn't know that crypto currencies were a scam?
moron
I have to give you an up-vote fone star. That clown was an idiot!
Don't get used to it!
The people who speculate in bitcoin are probably not the same people who buy gold.
JFC with these gold/bitcoin comparisons.
Carrots are not mashed potatoes.
Sure glad those Hackers can't jack my stack !
Any data (and conclusions) based on Mt. Gox are completely shit at the moment. Gox is imploding -- likely due to fraud -- and each day something new comes up. First it was the bogus transaction ID hack, now today hundreds, if not thousands, of people are reporting unauthorized logins to their accounts.
My guess is Gox has been perpetrating some type of fraud and is desperately trying one thing after another to cover it up.
I sold 3 coins for JPY on Mt.Gox 3 weeks ago at $950 each. After waiting all this time for the withdrawl to hit my Japanese bank account and writing them nasty letters, I requested to cancel the wire transfer. They "serviced" this request VERY quickly, lol. Anyways, those 3 coins I sold bought me 10.5 BTC today. Time will tell if I ever see those coins from Mt.Gox.
As far as the unauthorized logins are concerned, my understanding is they just started sending out emails when accounts are logged in. This means to me that all those accounts have been compromised for a long time but only just now are people realizing it.
"Do people really still follow him?"
Deaf people are still unaware of how annoying he sounds.
Buying digital coins (microchip money) doesn't hit the squids where it hurts like precious metals does. It doesn't bring them any closer to being exposed for the frauds that they are. The achilles heel of Goliath is physical precious metals. Furthermore, there is no barriers to entry to compete with digital coins. Many other competitors are growing and will sprout around bitcoin which, to me, says that bitcoin's growth prospects are hampered and any future growth will likely occur at a much slower pace - the market cap will be shared more and more, especially as competition to be #1 microchip money intensifies. Plus there are many risks with digital money and there are many more clever minds which I don't doubt will figure out how to hack or disrupt digital money at some point on the near future. I don't trust bitcoin personally, especially since JPM tried to patent a digital currency virtually identical to bitcoin not long ago. Why not just let another company develop it... then buy the company? It's market cap isn't too high and it could easily be squashed by the big players... but it's not.... why? Why aren't actions taken against it if it is such a real deal? Digital money might be a good investment purely from an investment standpoint but it doesn't do much to change the world for the better. It's just breathing life into something that the Goliath will jump on and make his own, regulate, tax, etc... allowing the Goliath to contine it's path of grandeous financial manipulation an eency weency bit longer. Protective algorithms only last so long as computing power increases exponentially. There was a guy who started minting his own gold and silver money, and he called it the "liberty dolar." The dude was shut down immediately for circumventing Goliath's authority. Why isn't bitcoin? If it can't be shut down by programmers because the encryption is too sophisticated then why isn't it shut down with finances? Why isn't it sold six feet under? It's sketchy. Too much risk. Unlikely to see a large spurt of growth again (due to competition and unknown risk and vulnerability). If I were an investor who had gained enormously through bitcoin but suffered a loss to the Mt.Gox incident.... I would probably cash out now, take my winnings, and invest it in silver coins.
The achilles heel of Goliath is physical precious metals.
Why? Because their existance is finite, correct?
Furthermore, there is no barriers to entry to compete with digital coins.
Actually, there is a barrier, and that is the establishment of a verification network.
Digital money might be a good investment purely from an investment standpoint but it doesn't do much to change the world for the better.
There are literally billions of people on this planet with access to a smart phone, but no access to banking as you and I know it. Bitcoin completely changes their ability to transfer funds to one another. The electronic transfer of funds is an industry that generates over a hundred billion dollars in fees per year.
The emergence of cryptocurrencies are a bigger deal than you realize.
The hostility and FUD spreading I've seen regarding stem from ignorance about what it is and how it works.
Bull fucking shit,
3 billiion people on the earth trade phone credit all day and everyday,
any where in south-america, africa, or asia,
I can put $10 USD on my phone, in credit and go anywhere use that credit as CASH to purchase and trade for anything,
I can send $5 to my girlfriends phone anytime I wish, and I can put CASH on the table at any SHOP ( cigarette, rice, soda ) and buy phone credit.
The entire conversation here is assholes in the USA parental basement who haven't see how 4+ billion folk on earth are already living.
Doesn't that simply validate his point ? All those phones can run a Bitcoin client and hence slip right in without any extra infrastructure ? It is better than phone credit because outside those countries phone credit is not very appealing as a medium of exchange.
HeinzGolderian.... precious metals are Goliath's achilles heel not because they are limited in supply, but because Goliath has created an enormously over-leveraged paper market promising the same existing precious metals over and over and over again to different buyers... (think fractional reserve). Everytime someone takes a little piece of precious metal away from Goliath his ponzi scheme becomes closer and closer to being exposed as the fraud that it is because the Goliath becomes less and less likely to satisfy his precious obligations. There simply isn't enough precious to fill all the IOU's issued and the more the precious filters into the publics hands the weaker Goliath becomes. Ease of creation (not being easy to create) is an aspect of sound money... but it isn't the aspect that makes it the perfect offensive against Goliath. Physical precious is the sweet spot for taking down this giant because it's the one thing Goliath doesn't have enough of. Money flowing into bitcoin that might have been destined for silver only keeps Goliath alive a little longer....
You're right about the barriers to entry part... I shouldn't have said "NO barriers to entry." However establishing a verification network is not a very difficult thing to do for any agency planning a digital currency let alone college students. Pretty much any major website which sells merchandise already has verification networks. What I should have said is that the barriers to entry are weak (small hurdles) to overcome and vast numbers of competitors could appear out of nowhere very quickly - some of which potentially could be under-the-skin-microchip-money proposed by Goliath himself...
Finally, when I say that bitcoin doesn't help the world for the better like acquiring precious does I simply mean that it doesn't thwart Goliath's agenda and acutally might play into it instead. On the other hand... acquiring the precious directly injures Goliath and directly rids him of his powers of sorcery (financial manipulation)...
Either way... the ascent of silver and gold (as history has shown time and time again after fiat money collapses - which it always does) mathematically is inevitable. Bitcoin might rise with it as well... but... not nearly as far up as physical silver and gold now that they are breaking free from their artificially manipulated lows. There is going to be some compounding of value as this manipulation unwinds that I truly think will send it aeons above and beyond any microchip money or any other asset. % on %... silver looks the most promising... but gold is the most damaging to Goliath.
I apologize for the multiple posts earlier... not sure what happened.
.
.
Buying digital coins (microchip money) doesn't hit the squids where it hurts like precious metals does. It doesn't bring them any closer to being exposed for the frauds that they are. The achilles heel of Goliath is physical precious metals. Furthermore, there is no barriers to entry to compete with digital coins. Many other competitors are growing and will sprout around bitcoin which, to me, says that bitcoin's growth prospects are hampered and any future growth will likely occur at a much slower pace - the market cap will be shared more and more, especially as competition to be #1 microchip money intensifies. Plus there are many risks with digital money and there are many more clever minds which I don't doubt will figure out how to hack or disrupt digital money at some point on the near future. I don't trust bitcoin personally, especially since JPM tried to patent a digital currency virtually identical to bitcoin not long ago. Why not just let another company develop it... then buy the company? It's market cap isn't too high and it could easily be squashed by the big players... but it's not.... why? Why aren't actions taken against it if it is such a real deal? Digital money might be a good investment purely from an investment standpoint but it doesn't do much to change the world for the better. It's just breathing life into something that the Goliath will jump on and make his own, regulate, tax, etc... allowing the Goliath to contine it's path of grandeous financial manipulation an eency weency bit longer. Protective algorithms only last so long as computing power increases exponentially. There was a guy who started minting his own gold and silver money, and he called it the "liberty dolar." The dude was shut down immediately for circumventing Goliath's authority. Why isn't bitcoin? If it can't be shut down by programmers because the encryption is too sophisticated then why isn't it shut down with finances? Why isn't it sold six feet under? It's sketchy. Too much risk. Unlikely to see a large spurt of growth again (due to competition and unknown risk and vulnerability). If I were an investor who had gained enormously through bitcoin but suffered a loss to the Mt.Gox incident.... I would probably cash out now, take my winnings, and invest it in silver coins.
Seeing multiple duplicate posts like this really gives me a lot of faith in the security and reliability of computer networks to manage digital money correctly.
Sit on my bitcoin and rotate, maybe you'll turn into gold.
Tyler .
I'm perplexed? Are those moving averages 20&50(simple averages) on the bone headed BTC half assed technical charts?
I'm amazed that the technical studies of BTC are so limited !
http://bitcoinwisdom.com/
Bitcoin lovers and Bitcoin haters are both wrong, haha. As is taught in Buddhism, the answer is in the middle way, between opposite extremes.
PMs for storing wealth. Bitcoin for transactions.
Why don't more people get this? Answer: Once someone chooses a direction, they no longer view the issue objectively, but instead defend their choice to the detriment of all logic out of fear of having made the wrong choice.
I'd continue, but I don't think that I could possibly sound any more pretentious.
What BUDDHA said was that there will always be MEN who eat SHIT (BTC), and men who eat RICE(GOLD),
The men who eat rice will prosper, find a good wife, make baby's and live a good life.
The men who eat shit ( play BTC ), will not have relationships, and have bad breath, and never have offspring and perish.
There will always be good money and bad money, and good food and bad food.
Buddha say's "WHo are we to decide for another what he puts in his mouth", but it does effect your outcome. Your relationships.
Make NO mistake EATING 'SHIT' is not a 'balanced' lifestyle.
Assholes like to say, just eat 1/2 & 1/2 but even a little shit is is going to make problems.
Life is too short to be a SHIT EATER.
Enough Said.
He who is using the strongest expletives surely has the strongest arguments. ;)
My shitcoin(tm) is mighteir than your turdcoin(tm), but my cryptoturd(tm) is the strongest virtual anal in all cyber dystopia.
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Like I said earlier today, this story about BTC will soon be forgotten and just be seen in the 'end times' as a desperate attempt of the USA to pull new 'puppet out its ass'
Uncle Sam has played his 'one trick pony' aka US Dollar way to long, ... NSA/CIA would love to have had a crypto-currency in their baggage, but the CHINA/RUSSIANS would have no part, and unless its used worldwide its NOT going to have legs.
*
There are many a solution to the perfect Crypto-Currency and as CS person myself I would love to BS on the subject, but lets just say that BTC was never pure P2P, and that coming from the ASSHOLES is not where you want virgin birth.
RFID & Bitcoin, sounds like a match made in Hell
bitcoin IS digital bullion!!!!
and the sooner gold/silver/comodities exchanges for BTC/LTC open, and all the BS fiat goes away, the better
The problem with all electronic currencies is that they aren't physical/real, and neither are the markets.
To steal gold (and I don't mean gold "paper"), you have to be physically present, and the dangers are well-known so can be protected against. Digital space is way less secure. Even if you don't "steal" Bitcoins, you can shut down the trading market with DDS attacks, which are the easiest form.
The DoJ/NSA are the ones taking down Bitcoin, because they can't allow an alternative to their Ponzi scheme. This is like the East Berliners building the wall to keep their own people from fleeing to the west.
Basically, electronic currencies presuppose a funtioning infrastructure in order to be useful. Attacking the infrastructure is the easiest way to take them down.
You don't need infrastructure in order to carry an ounce of gold in your pocket.
So far experience has shown that Bitcoin is a magnet for scammers. You don't need to have a logical theory to prove why this is true because it is easy to observe.
P2P is NSA look at what the technology was based off.... Cominication during covert ops.
I'm converting my BTC into my store of Gold. BUT WAIT I'm +60 days waiting for my funds from Mt Gox. It aint looking good either. Exchange Rate? Mt Gox Price range? It's all irrelevent of what price you bought or sold at. Who's talking return on investment? I'm just worried about my return of my investment $. I just want my money. Lets see; Fiat? BTC? Gold? Wait Wait... I'll take my Gold along with my Guns and God.
We have seen the top for BTC. This I guarantee. It came and went like a comet.
Bitcoin pricing is now being manipulated by the government, just like they do with bullion. There is no FDIC or Knox for bitcoin, and great incentive to make off with the loot.
Ten men control 90% of BTC mining and Exchange they pumped and dumped the BTC-BITCH to $1300 and worked hard ever since to keep her from plummeting to earth.
Now that even ZH retards know that BTC if bit-fucked, its time to blame the government.
Please pay no attention to the ten men ( mt-gox, ... Ukraine, winkelvoss fuckheads ... ) that actually run the bitch up, and then fuck its customers.
Yep for years to come there will be lawsuits and all the exchanges and miners will be blaming the FBI for their failure, ... never for a moment to think to blame themselves for CRIMINAL pump&dump of SHIT.
411, what happened to your 3 or 4 other accounts?
Go read my BIO, there you will find my email, and we can talk about that offline here where its safe,
You know full well that anybody that tells the truth here on ZH last about 5 minutes.
A few weeks ago I made a comment on Banzai rather than answering my question, he deleted,
Last week I had a question on a Charles Smith post, same-same, he chose to delete my account rather than answer the question.
It appears that most deleting here is done by the poster, rather than a specific tyler, but what is strange is that these assholes like fonestar, and perhaps you never get deleted here, ...
I alwAYS SAY here trust only those less than a month, anybody over a month is part of the goldman-sachs, aipac, kluster-fuck aka ZH.
Lastly, I just started using this account today, so even though it says a week+ that's not true, my average life here on ZH is 2 days to 4 weeks, but never more than 4 weeks, and when I get deleted its never because of what I said, ... its always because of the house-cleaning work that takes place.
I have also noted there are active bot's outside of ZH that can target the ZH complaint site with posts, they seem to count, and use that as an argument as well.
Again, maybe we can compare notes off line,...
ABC-MEDIA, ... GOLD-MAN-SACKS, aka AIPAC, aka MOSSAD
Satoshi411, you really need to seek help from a mental health care professional. You are displaying symptoms of severe and dangerous paranoia drivien dementia. I have been commenting here for years and always speak my mind, which is rarely mainstream, and frequently contrary to many of the bloggers who post here. I have nevere experienced any form of censorship on this site. I am sure that many long term users here would concur with my statements. So, I would advise you to start your own blog site where you can spew your paranoid horse poo all you want, and we can all be thrilled to not read it. But, above all, get some voluntary help from the private sector before you are subjected to compulsory help via the penal system.
Funny the ZH mantra here is "why banker not go to jail",
But when BTC criminals rob and rape clients, nobody calls for their balls and better the 'gubmint' is blamed for BTC failure, fucking funny
Especially given that BTC is NSA/CIA and they would have loved to see BTC go to the moon.
The reason BTC failed is because everybody knows its NSA and its being banned in the 'free world'.
BTC is not NSA. its just a plain old confidence game. only a nitwit, a moron, an imbecile would fork over good money for the invention of some math porn geek
No the original papers for BITCOIN (Algorithm) go back from 1992->2009, and all point directly to NSA.
My personal PET theory is given that outcome and given that UKRAINE somehow ended up with 80% of the BTC mining franchise is that early on AIPAC aka CIA/MOSSAD made a deal in EUROPE to give UKRAINE the franchise to elite in return they turn their country over to Europe.
The death of BTC is largely because PUTIN saw too that that BTC ( NSA/CIA ) was put to death, with the death of BTC, now AIPAC(ISRAEL/USA) has no leverage to control UKRAINE.
We're saying the same thing, just that Winkelvoss Twins are your pump&dump whore on the 'exchange' side of the PONZI, and the MINING was done in Asia, but largely UKRAINE got control.
*
Alogorithms, science, theory, proof of concept, and free code, of course came from Satoshi aka NSA.
*
But yes, as you can see here on ZH, every halfwit, nimwit, and fuckwit (fonestar) is pumping and dumping the bitch.
Me think including Ron Paul a lot of early players got 'freebtc' and ergo became pumpers the perfect CON.
yep. i could smell the scam a mile away, maybe two miles.
btc is for fetishists only
If Bitcoin is for fetishists you can do me up in buttless leather bondage chaps and call me Bittie.
Wasn't the Bitcoin market capitalization 0.2% of the gold market capitalization?
Meaning, Bitcoin can't have any significant effect on the gold market.
Exactly. Its still amazing how the financial media treat Bitcoin as if it actually meant anything at all in any market. The only explanation must be extreme fear that it would mean something in the future. It might but until MarketCap is way over 500B (today its around 8B !!) Imagine that last weeks turnover in BTC approx 400M would mean anything to any market :):)
You cant count mtgox ! nobody has for the past 12months
zerohedge are worried about bitcoin ? maybe something to do with 3000% in 12 months
You cant count mtgox ! nobody has for the past 12months
zerohedge are worried about bitcoin ? maybe something to do with 3000% in 12 months
Relax.
http://www.thewarningsecondcoming.com/relax-all-of-you-and-know-that-god...
BTC is unlikely to have had any measurable effect on the gold market - maybe some physical sales, but the main downdrift is due to uncertainty - where I think most are going into cash rather than gold.
I'm sure the barrage of attacks on BTC will continue, and it will have to weather extreme headwinds - but monetary freedom is a powerful idea, crytpo's are building out infrastructure - proving their durability. The end result of these problems are going to be a positive for BTC - they are minor issues, and will be resolved moving ahead.
The prices of gold, silver and BTC arent that critical at this time - its exciting to see some nice upside in PM's - but until the vaults are dry, we can expect a continuation of manipulation. Its nice to see the PRIC's retreat on gold and silver for a while, but my confidence is not based on falling or rising prices, but on objective assessment of the environement and the value of gold, silver and BTC.
Stupid money rotates into Gold? Oh, no, we're all doomed!
But, hold on a second... there is no money at the sidelines, it just changes owner.
Meanwhile Bitcoin's logfile is 15 GB big. Hmmm, what does that tell us? What happens, when Bitcoin replaces the US-dollar? 1000 Million transaction each day won't fit in Bitcoin's logfile, what do you think? The logfile has already forked a few times, Bitcoin is dead as a squirrel run over by a truck.
SHORT THE BITCOIN BITCHEZ !!!
If they were late for the party, i.e. most retail "investors", leveraged Bitcoin speculators should be financially wiped out by now. And given their capital and operational costs does anyone have a guess about the break even BTC price for those mining farms?
"does anyone have a guess about the break even BTC price for those mining farms?"
From everything I have read, those mining operations are a money pit. Many people claiming profits are not counting their full investment and operating costs, and many people are assuming increasing Bitcoin value to cover their expenses. A drop in Bitcoin value wipes them out. Some of the smaller operators are counting on immediate profits from dumping coins to cover electricity bills.
When gold goes down it's paper manipulation, if it goes up it's bullion price
kinda...ya
Great aticle Tyler! Markets can not be cpmpared by size, but investors perception is everything Gold 2.0 scam was taking a lot of attention from the real only one Gold:
Gold And Silver Break Crucial Levels Causing Massive Short Squeeze
As we have mentioned before, Gold and Silver has broken to the upside causingmassive short squeeze. The big boyz are loaded on Gold now and we will monitor today how the mass media will be picking up the Gold story again.http://sufiy.blogspot.co.uk/2014/02/gold-and-silver-break-crucial-levels...
Bitco(i)n was/is a great experiment : it proves that technically advanced people (aka computer nerds) are as greedy as the average wall street banker. Plus que ca change.....
Bitcoin's had a good ride but like any new financial vehicle, or ponzi, or whatever it really is, it needs a constant flow of new adoptors to take it to new levels. One could say the same about gold, with the caveat that gold has been playing its role for thousands of years. Me thinks the top is in on bitcoin and all of the early adoptors have now rotated into Maxcoin and other vehicles.
Let's pretend you are an average Joe who has some cash and wants to move it? Would you buy something that loses half it's value in a week and has no guarantee of a cash out when you are done with it to do that with? Lets get "real" here a money order would be way more stable and reliable. In fact just about any current legal system for transfering cash is better. Yes cash is trash but at least a US dollar does not currently lose half it's value in a week. If all you are doing is sending money to a relative a Fedex envelope and cash is a better system. Who in their right mind would spend their hard earned money in a $350 bit coin with no guarantee of value or ability to turn it back into cash? I have a stock in a bridge in Brooklyin you might be interested in. I can gurantee you that far more people would take your gold, silver or cash than they would your bitcoin.
... loses half it's price in a week ...
It's price, not value, not use.
Pretend that you live in the real world and you pull up to a gas station with your Bitcoin and see what it's "value" is?
Just for fun......If i could print my own currency, i would buy all the gold from the central banks and make everyone adopt gold as a currency after i owned most of it. For added fun, I could fund my own campaign to make people think gold is scarce....
Here is an introduction email I found for anyone new to Bitcoins http://eprofits.com/article/wtf-is-bitcoin-and-should-you-pay-attention
The article that you linked to makes good reading if you enjoy total bullshit. I especially enjoyed this bit of nonsense:
"With government spying on everybody’s mind, the good thing about Bitcoin is that it is totally private. And without a specific entity in charge, it’s very difficult for it to be manipulated, stolen, devalued, or controlled."
Too funny!!
The same sort of mania that moved the hyper thin Bitcoin 10 fold last year will vault the metals market this year. The Bitcoin phenom is a symptom and not for everyone. Everyone should own some gold or silver now, the 3 year bear market is over!! PM are the ultimate macro play and less volitile than stocks.
bullionbitcoin.com
Desperation can be identified when a poster starts speaking of himself in the third person. I guess Fonestar has a mighty paper loss he's trying to make up.
Bitcoin and Beanie Babies...Real.solid.investments.
Federal reserve notes are a pyramid scheme. Bitcoin is a technology that I hope will help free us from the CB's. Also there should not be a war between crypto and Pm's, there should be a union of the two and then we would have a real weapon to fight the cartel.
Why can't I buy Shitcoin on Mt Gox for $338 and sell it on Bitstamp for $600?
because you'll get goxed