Gold Vs Bitcoin… Why bitcoin wins.

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  • Wed, Nov 20, 2013 - 04:14am

    #31
    troof

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    Where have all the electrons gone?

[quote=TAMWO37101]

I HOLD my gold in a safe and yet the bankers still manage to steel from it through price manipulation.

[/quote]

Well, if they're steeling it, they're doing alchemy which is pretty cool but unlikely.;-)

If they're stealing it, they know where your safe is and have cracked it.  Just another good reason for never putting most of your gold in a safe which is the most obvious place to look for it.

If you've lost money through price manipulation, you likely bought too late in the game, just like now is late in the game for bitcoin.

 

Gold is more stable than computer based electrical charges.  Gold in physical possession is not subject to loss of electrical power, loss of Internet, EMP attack, solar flare, hacking, government take-over via electronic means, quantum computing cracking of cryptography, etc.

Who do you think is the original source of bitcoin? 

Who do you think is developing quantum computing?

What is the final step if this shift to a cryptocurrency were to be widely embraced by society?

People, don't listen to shills, the techno-intrigued, the well meaning but misguided, and the gullible. 

Be patient and count on the Golden Key. 

Remember problem, reaction, solution.  Thesis, antithesis, synthesis.

 

When will they ever learn?

http://www.youtube.com/watch?v=Ek_Vso6Lu1g

 

  • Wed, Nov 20, 2013 - 05:59am

    #32
    Time2help

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    Bitcoin

This is a great thread 😉

  • Wed, Nov 20, 2013 - 01:14pm

    #33

    Tammy Sharp

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    MONEY resiliency

Hi Troof

  Yes, I meant 'they' steel purchasing power even though I have it in my possession.  I bought what I thought was at the end of a correction but boy TPTB have been working overtime this year knocking it down whenever they can.  I think we should treat BITCOIN as a new prep or another form of resiliency planning.  If you can own a few, I think its a good idea.  Just as we all here embrace the resiliency concept of having several ways to obtain water, food, energy, safety, we should consider bitcoin as another 'back up' to our money preps.  Bitcoin is on our side-power to the 99%-truth in numbers!  BUT, yes, I believe in the 5000 year old history of gold as money and thankful I own that too.

Thanks for the bitcoin TA DAVE!  I got a good chuckle when I saw that.  You were right about recent bitcoin bubble-pop!  If you get a chance though could you do a historical bitcoin chart TA?  Curious to know what your take on that would be.

TAM  

  • Wed, Nov 20, 2013 - 03:05pm

    #34

    thebrewer

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    Great test but someone will get burned

I love the idea of an alternate currency outside the central banks but I don't think  Bitcoin is it. A great test case yes. Will lessons be learned? Yes. Will some of them be hard? Definitely!

I still like the idea of PM's being the new old currency. Something tangible. Once these ETF's collapse, and they will, you'll be glad you're holding something real in your hands.

  • Thu, Nov 21, 2013 - 01:03am

    #35

    sand_puppy

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    Catherine Austin Fitts Distrust Digital Currency

Catherine Austin Fitts is someone whose opinion I value highly.  She sees a faction, whose identity is not known, working diligently to get control over the entire world.  She refers to this group as "Mr. Global."  

It is her opinion that Mr Global want a digital, non physical, money which they can control.  Anything that only exists or moves over the electronic and fiber-optic networks, which they control and monitor, would be fine with them including "digital gold," SDRs, dollars, bitcoins or digital wampum beads.

Needless to say, she distrusts this new embracing of bitcoins.

CAF Note: Hey, if Mr. Global announced he wanted to get people into a fiat currency without deposit insurance because he wanted to shift to a digital global currency, everyone would be outraged, no? But voila, now we have a grassroots movement. No fractional reserve, no deposit insurance, means more leverage than derivatives……    Just remember, he who controls the cable and the satellite, controls [and monitors any digital currency].

  • Thu, Nov 21, 2013 - 03:29am

    #36
    hunt4riches

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    Bitcoin VS Fiat

I only have one thing to say about bitcoin:  "It's a coin represented by a bunch of bits of data".  Going a little deeper: Data is data, and we can increase data bits so long as we can extract silicon out of the ground and we have A LOT of that…  Much like there can be as much paper money as there are trees to make paper from. 

Let's just pretend for a minute that the bitcoin software, algorithms, wallets, etc are all 100% perfect in design.  Lets also pretend that no bitcoins can ever be destroyed, lost, stolen or confiscated.  These efforts can be duplicated and competing crypto currencies can be born.  Suppose Bitcoin-1 goes to $10,000, but the problem is there are not enough of them.  So someone invents a new competing crypto currency and sets the supply at 10 trillion and gets all governments of the world to declare them legal tender and mandate their use.  Well.. willing to bet right there that bitcoin-1 will take a giant dump and then Bitcoin-2 would be no better than printed or digitally sourced fiat. 

Anyone ever give thought that Bitcoin-1 is just a beta for the much fabled illuminati plan to have a one-world currency?  That would be digital?  Designed to be less anonymous?  Could be confiscated and 100% controlled?  See where I'm going?? 

A gold coin still looks and feels just the same today as it did 2,000 years ago.  It's for that same reason gold will always have value simply due to the fact that it's scarce, does not easily react chemically and is breathtakingly beautiful to look at.  Gold always has been and always will be truly anonymous.  Big borther aside, if I "spend" a gold coin at the market, the next guy to touch that gold coin has absolutely no clue I ever held it, spent it, etc…

Gold is no longer ideal for money as there is simply not enough of it.  Continuous handling of coins wears them away to nothing and then the gold would just disappear back into the ground from where it came.  The best case is to require governments to back a percentage of their currency with it and leave it in bar form.  But the percentage is but a whimsical number that can be arbitrarily changed at will by the stroke of the pen.  If you can make it 50%, you can make it 1%, and if you can make it 1% it might as well be zero. 

Money, no matter the form, is just a promise……  That promise is only given value by faith… 

  • Thu, Nov 21, 2013 - 09:43am

    #37
    bowskill

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    Keiser on bitcoin

Interesting Keiser Report out today which includes an interview with a couple of bitcoin adopters.

http://rt.com/shows/keiser-report/episode-526-max-keiser-025/

One of them reports on how he went trying to live only on bitcoin. Surprisingly well.

Other interesting points:
– some prominent gold bulls are bitcoin bears (vested interest vs objective opinion?)
– the lack of intrinsic value criticism of bitcoin is contrasted with the lack of portability issue with gold
– US is only 2% of the total bitcoin market – regulators are deluded if they think they will control it
– bitcoin increasingly seen as a new asset class
– the Chinese are swarming into it
– bitcoin is not the only cryptocurrency – look out for Litecoin.

  • Thu, Nov 21, 2013 - 10:24am

    #38

    amusedtodeath

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    Yes this is a free market

The regulators don't love it, Wall Street and the Fed don't understand it. When they finally do, they will realize how incendiary this technology is. By then it'll be too late, it already is, and no one can stop it!

There will be no confiscation, they'll find it almost impossible to tax. As for what goes up must come down, Bitcoin is nowhere near a bubble, it can't be manipulated through a paper futures exchange (like Gold & Silver are). People  need to take time out and really understand this thing. We're in the early adoption phase and parabolic prices will be the norm until it finds the right level of supply v demand.

If you want to believe the money laundering smear, what about cash? That's been used for money laundering since the beginning. And yes, this is how a free market behaves: the Syrian crisis Gold and Silver go down and Bitcoin went up.The Government shutdown, ditto.The Obama Care shenanigans, ditto.

After the latest parabolic move up it's now leveling off, as it did in the last run up from $30 to $200.

Bubble? No where near it!

 

 

  • Thu, Nov 21, 2013 - 11:46am

    #39
    troof

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    Tip toe through the tulips with meeeeeee

[quote=amusedtodeath]

The regulators don't love it, Wall Street and the Fed don't understand it. When they finally do, they will realize how incendiary this technology is. By then it'll be too late, it already is, and no one can stop it!

There will be no confiscation, they'll find it almost impossible to tax. As for what goes up must come down, Bitcoin is nowhere near a bubble, it can't be manipulated through a paper futures exchange (like Gold & Silver are). People  need to take time out and really understand this thing. We're in the early adoption phase and parabolic prices will be the norm until it finds the right level of supply v demand.

If you want to believe the money laundering smear, what about cash? That's been used for money laundering since the beginning. And yes, this is how a free market behaves: the Syrian crisis Gold and Silver go down and Bitcoin went up.The Government shutdown, ditto.The Obama Care shenanigans, ditto.

After the latest parabolic move up it's now leveling off, as it did in the last run up from $30 to $200.

Bubble? No where near it!

[/quote]

Tulips were in a free market too.

http://www.youtube.com/watch?v=skU-jBFzXl0

  • Thu, Nov 21, 2013 - 04:38pm

    #40

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    Depends

Amusedtodeath,

It depends on how you define a free market. In my opinion free markets have never existed according to the accepted definition. It's an ideal, not a fact, something you work toward but never reach (democracy is another).

There will be no confiscation, they'll find it almost impossible to tax. As for what goes up must come down, Bitcoin is nowhere near a bubble, it can't be manipulated through a paper futures exchange (like Gold & Silver are). People  need to take time out and really understand this thing. We're in the early adoption phase and parabolic prices will be the norm until it finds the right level of supply v demand.

I appreciate your enthusiasm, but I just don't buy it. Do you? The first rule for me in investing/trading/protection of wealth is to not fall in love with anything. I'm not enamored with fiat, gold, or bitcoin. They are all mediums to fill necessary evils (or benefits depending on your perspective) of our society. 

I remember back when I was trading in 1999 there was the "new" economy, and all the propaganda… "this time things are different, tech-stocks to the moon,etc, etc." Sorry I don't mean to burst yet another bubble, but things like bitcoin, and yes all currency, are derived from flawed human beings. It will be manipulated (as we are seeing in its chart), it will and can be confiscated. And the thought of it as being impossible to tax? Well, that's most appealing to organized crime, or even worse to those who think they shouldn't give anything back to society.

Early phase of a currency means parabolic prices and massive fluctuations? It's interesting how this concept is taken at face value. Please explain to me why this is absolutely necessary in an emerging currency market. What is natural about it? As I do have a pretty good understanding of economics and currency, please go deeper than just supply and demand.

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