Gold Vs Bitcoin... Why bitcoin wins.

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Bitcoin

This is a great thread ;-)

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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  

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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.

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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].

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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... 

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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.

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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!

 

 

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Tip toe through the tulips with meeeeeee
amusedtodeath wrote:

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!

Tulips were in a free market too.

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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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bitcoin TA

In the last few days, we saw a descending triangle breakdown which was almost immediately bought, moving price back above the breakdown point.  On the daily chart this printed a reversal candle.  Buying appears strong below 600.  The chart formation looks bullish to me.

The volume on the upside isn't quite as strong as the downside volume was, which is a bit of a cautionary note, but it does seem like the big selling is done for the moment.

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amused

LOL I like it! 

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Currency- a means of exchange

I take your point about no real free market, but given the outright manipulations by central banks on everything including the price of money, I still maintain that Bitcoin at the moment is a 'freer market'. The recent parabolic move was put down to the Chinese  getting in  after a couple of documentaries on Bitcoin. By this I mean the Chinese people,not the government.

I still don't think Bitcoin is in a bubble,it is a currency and should be used as such. For the record I own 0.5 BTC, I also own some Gold & Silver. People shouldn't invest in a currency for gain but as a means of exchange for goods and services which is where digital currencies come into their own.

 I get all the references to the dot.com this time it's different- it never is! But as a means of exchange I think Bitcoin has a future. Only time will tell..

 

 

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We are all rare tulips-troof

Hi Troof- We live in the age of exponentials and bubbles.  Bonds/debt, stocks, population, extraction/production/consumption of anything and everything, real estate. MSM and CNBC claiming hard that gold is in bubble (not yet) and TPTB working hard to make it look that way.  But one day gold will be in a bubble and the whole point is to get in and out and transfer your wealth/energy into asset class that is undervalued, something like real estate/land if you time it right.  Right now bitcoin is a great NEW monetary opportunity that im betting has a lot further to go before it pops.  Maybe some buy and hold pm's simply to trade for goods and services in future?  That doesn't make sense.... I might do that for silver, but my gold I completely expect to go more parabolic and I WILL get out of gold at some point to transfer wealth into preps i need (undervalued LAND!).  So understand that bitcoin is a brand new avenue to let wealth/energy accumulate and transfer at appropriate time to another asset class that is undervalued....to store wealth.  I have read many comments about those who hold pm's to simply barter with in the future and maybe a new thread would be interesting to find out what exactly do folks here expect to do with their PM's in the future.  Bitcoin is another NEW opportunity to accumulate wealth.  I seriously think that western central banks have little gold in storage, that is why they need to slam it down.  They cant even give Germany their gold back for seven years, another reason to take it down as low as they can.  I can just see Central Planners deciding to go with a digital backed currency before gold backed currency because gold is moving west to east, we dont have the MOST gold anymore to back a currency!  "Hey guess what everybody-we are adopting this incredible new technology to back our currency because 'the times they are a changin'.  In the meantime we'll accept both till said date to transfer completey to new currency. Sorry folks for the inconvenience but digital currency is the future-we cant stop progress!."  WATCH..THEY will do whatever it takes to prevent gold from prevailing because our gold is GONE...baby gone.

 You know, one of the most profound realizations that hit me hard when I swallowed the blue pill was understanding that the only reason I exist and walk this planet was because of a BUBBLE.  So bring on the tulips. We are all unique, rare, beautiful tulips that are worth something....TROOF       

TAM  

 

 

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I meant RED pill

I dont even know my matrix pill colors-I meant RED pill...TROOF

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Bitcoin at $853

Bitcoin transaction volume for purchases is flat or decreasing yet the value of a bitcoin in $'s goes up, up, and away.   That the FED is NOT bad mouthing the bitcoin tells me the Powers That Be don't care about it or are about to crash it.   Whenever I see the initial exponential curve I have to say to myself "what foolishness is going on?".  Gold had this behavior too before its recent pull back.  For awhile there this website was heavily promoting gold but not much said now.  One would think the "fire sale for gold" message would be bigger here now.  That it isn't and bitcoin skyrockets has me wondering what is going on.   Is this another sign of a big crash as the herd gets quiet before the storm?

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Peter Schiff video on gold 2.0 vs gold

http://www.youtube.com/watch?feature=player_embedded&v=0L7SOPDOvvI

"bitcoin has no intrinsic value"

"what gives gold value is that it has intrinsic value on its own"

"these people who own bitcoins, their judgement is being clouded by the money"

"there is a bubble in bitcoins, people want to get in on it"

"..a lot of the people who got into bitcoins ... certainly have a vested interest in trying to expand the market, to talk the market up." 

"when the [bitcoin] market turns, look out below"

"in the meantime, if you are really looking for a true store of value, if you dont want to be in government fiat money, if you want to be in real money that can't be created at will, can't be inflated away, BUY GOLD."

This all said in front of a Europacific Precious Metals logo. Peter also has a vested interest. Are we about to see a whole lot more public education (marketing) by the gold lobby yet to come at bitcoin?

I generally admire Peter Schiffs work. But is this presentation just borne from frustration at the decline in price action in pm's? It comes across to me as a marketing exercise pitched at potential bitcoin investors.

 

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many otherwise smart commentators

Are still having trouble digesting the Bitcoin phenomenon.  Many Gold advocates fall into this either/or trap I think.  I really enjoyed listening to this Max Keiser episode yesterday... the guest is in the VC space and talked about where Bitcoin is today, and where it might be going... he strikes me as very level headed, pointing out that it is possible that an investment in Bitcoin today could go to zero... and it can.  I don't think it will though..  Bitcoin is a worldwide phenomenon.. and the dollar (and the US financial authorities by extension) is in the process of losing it's dominance.  Anyway, the guy forced us to think about Bitcoin as a market capitalization (currently about $10B   https://blockchain.info/charts/market-cap ) and compare this to other entities in the financial universe (Goog has a market cap of $347B) and this helps us keep things in perspective... the real "problem" if you will, in my opinion, is what I wrote about in my thread, "The unbearable lightness of Bitcoin, aka deflation", is the price of Bitcoin... it keeps going up in dollar terms!  Gotta be a bubble, right?  The exchange value of Bitcoin will have it's brief speculative excesses for sure.. this is human nature.. but the phenomenon is not going to die.. it is too inventive.. too useful, too refreshing in the face of the abuse we the people have taken from the monetary authorities over the years;

https://blockchain.info/charts/market-cap

Andy Hoffman of Miles Franklin is one of those commentators who has been ever so slowly coming around to see some of what Bitcoin is and has to offer, but he still is unable to get out from under his pre-conceived notions .. but I know where he is coming from in a way, since I hate the money cartel as much as he does, and I hate what they are doing to Silver/Gold as much as he does. 

http://blog.milesfranklin.com/cashless-society

What Armstrong fails to address is the fact gold and silver have always been money; not to mention, that Bitcoin, while “convenient,” would take decades, if not centuries, to establish a track record.  When one reads of this year’s record physical gold demand – principally, from the soon-to-be undisputed Superpower China – it’s frankly, ludicrous to state otherwise.  Not to mention, insinuating silver prices have fallen to multi-year lows – entirely during U.S. trading hours – due to anything other than manipulation, when considering this year’s record U.S. Mint Silver Eagle sales.  Yes, the mint sold more silver Eagles in the first nine months of 2013 than all of 2011, when prices hit $50/oz. and a so-called “bubble” was forming.  And yet, we’re told silver is in a “bear market” – as worldwide money printing accelerates at its highest-ever level.

Here Andy is alluding to the thousands of years history of Gold and Silver as money.  Given the internet and the speed of communication today, his statement above is a gross exaggeration.. Bitcoin is taking the world by storm because it is the right invention at the right time... there are very few barriers to adoption, other than a slight technical learning curve.  He goes on to say;

No matter how things evolve, 5,000 years of monetary history won’t suddenly be erased by a new form of fiat currency; which, by the way, is exactly what Bitcoin is.  To believe Bitcoin’s masters will never allow supply expansion is pure folly; in my view, no different than what was agreed in 1944’s Bretton Woods Conference.  Moreover, bigger, smarter computers will surely enable increased rates of production, at cheaper costs; yielding a rapid technological evolution involving more complex virtual currency algorithms and faster computers.  But in the end, it’s still fiat currency – until proven otherwise.

And this is where Andy really goes off the rails....

A.  Bitcoin does not have any one master.. it is by nature distributed.. and this is part of it's beauty and elegance.  There is a non-profit .org that exists to help herd the cats, the cats in this case being the active miners and miner nodes (groups of miners that work together) who are the lifeblood of Bitcoin.. but this .org does not have the power to go in a change the underlying source code to allow for a higher rate of Bitcoin production.  This is open source software like Linux.. meaning that all the players.. all the hacker programmers.. can see the source code and alert the world if something of importance like this were to "infect" Bitcoin's digital DNA.  Andy is wrong.. he does not understand open source software and the idealistic enforcement capacity of the techie community.. as smart as he is, he just doesn't get this.  After 30 years in semiconductors, seeing the Linux revolution happen, I do, and many of us here do as well.  Bitcoin is the Linux of money... whereas the dollar is the Windows 7 of money.. with a big powerful cartel behind it that wants to keep you in it's ecosystem and get it's vig from you along the way.

B.  Bitcoin is not, I repeat NOT, fiat currency.  It really galls me when someone of Andy's intelligence says this.  This is really, really important to understand in my opinion.  

Fiat money

From Wikipedia, the free encyclopedia
 

Fiat money has been defined variously as:

  • any money declared by a government to be legal tender.[1]
  • state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard.[2]
  • money without intrinsic value.[3][4]

The term derives from the Latin fiat ("let it be done", "it shall be").[5]

Bitcoin is decentralized... there is no government involved that forces it upon us as money.  It lives or dies as a phenomenon based on it's usefulness and desirability as an asset.  Nobody has to use it.  There is no violence behind it.. no taxes to be paid in it.  Maybe Andy is pointing to the intrinsic value argument.. but even there... Bitcoin is software.  We place value on software based on its usefulness.  We buy app's all the time on our phones, and some of us pay a pretty penny to get specialized software to create music, or photoshopped images, etc.  If you think of Bitcoin as revolutionary software.. a payment system that encompasses the store-of-value function.. then you start to see that it does not lack intrinsic value.

As far as what percentage of my net worth I am willing to invest, Gold and Silver are by far more important to me.  Bitcoin can go to zero.. and Gold and Silver never will.  That being said, there is really no end in sight for how pervasive Bitcoin could become as a form of payment, and therefore how high, in dollar exchange value, 1.00 Bitcoins could go.    

          

 

 

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The moment of troof

Jim,

Based on your assessment of Bitcoin, hypothetically, with a medium risk tolerance, what percentage of your portfolio would you be willing to allocate to it right now, at this moment, if you:

1) were starting out and had no debts and had $10K to invest?

2) were along in your accumulation of wealth with no debts and had $100K to invest?

3) were nearing retirement with no debts and had $1M to invest?

Thanks for your thoughts on this matter.

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Investment advice

Troof,  My only investment advice to folks is this;  If you have savings, it is imperative that you learn enough about the nature of currency (fiat and other), money (Gold and Silver), and other investments to become at least somewhat self-directed.  One of Chris' early aphorisms was to, "trust yourself".  It is self-obvious that one cannot get to that point of trusting one's self without educating one's self.  I act as a commentator here in order to pass along that which I have learned myself in a decade of intense study, kicked off when the Corporation I work for told me that I had just missed the cut, and that my traditional pension plan was getting switched over to a lump sum that I would have to manage, or have managed for me. 

I personally would not put more than a few % of my net worth into Bitcoin..  I am much more interested in Bitcoin based on what it says about the people's hunger for alternatives to fiat money.. and I view Bitcoin's success as nothing but a positive harbinger of what is to come for PM investors as Gold overcomes the shackles of the fractionally reserved paper market structures of today.   

 

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Thanks Jim.  My fears about

Thanks Jim. 

My fears about Bitcoin are about how it came into existence and how the resistance against it by TPTB seems to be token.  Also, it seems to be getting a good deal of media exposure, more than one would expect if there was high level resistance against it.  If it was the threat to them it would appear to be, I would think it would be rapidly squelched.  That does not seem to be the case.  I could easily see it being subverted and becoming the means by which we are moved into a one world digital currency system that becomes even more controlling than the one we have now.  Thesis, antithesis, synthesis.  With technology being on the cusp on developing practical quantum computing, you know there is no encryption that cannot be broken.  Quantum computers will be the new H bomb.  Whoever has them will rule the world.  Wealth extraction will become more efficient and pervasive than ever before.

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Sign of irrational exuberance for Bitcoin?

Uh oh. I just received the following email. 

I've heard to be wary when the shoeshine boy starts recommending a specific investment product. But the breast augmentation guy?

PRESS RELEASE

LIFT YOUR BREASTS… WITH BITCOINS.

AMSTERDAM, 24-11-2013 | THE CYBER CURRENCY BITCOIN has reached the lingerie and fashion world, after being announced as the latest way to pay for adhesive breast lifts at instant-breast-lifts.co.uk.

The founder of instant-breast-lifts.co.uk, Marcel Duits has announced, that adhesive breast lifts can now be purchased with bitcoins as well the the Bye Bra range, which is a simple solution to quickly and effectively enhance the female breast without the need for surgery or even a bra.

Instant-Breast-Lifts.co.uk is known only to supply high quality breast lifts which are produced from a 3M medical adhesive, which has become the world's first Bitcoin receiving lingerie reseller.

Duits, who admits to owning some Bitcoins already, said, "Bitcoins become more widely accepted and we would like to contribute to make Bitcoin a worldwide accepted currency. Purchases of consumers who buy adhesive breast lifts which are paid with Bitcoins will be processed with PRIORITY and send straight away as well receive a discount code for the Bra Wallet as Bitcoins do not result in transaction costs.

Priority for Bitcoin paying consumers might become a trend in the upcoming years to persuade consumers to pay with Bitcoins. Bitcoin paying consumers are more interesting due to the fact Bitcoin does not charge transaction costs.

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Place in portfolio

Troof - your question to Jim is a really good one. I will throw in my personal situation and thought process for what it is worth.

I don't fit exactly into your categories. I am 51, have no debts, have a bit of physical pm and a little cash and some real estate that is not suitable to keep long term (when TSHTF). My aim is to be able to pass on a small parcel of quality farm land (I have a list of criteria for what is needed - including water supply and simple long term infrastructure) and some pm to my kids.

Chris Martenson (and this community), Steve Keen and Nicole Foss were the main influences for making some radical decisions in the last couple of years that got me out of debt and into pm's.

The way I am going, simply working and saving is not going to get me the land I need in a short enough time frame given the potential risks to the wider economy in the medium term. I want it set up in the next 5 years.

So a month or so ago I decided to put 25% of my cash into bitcoin. I agree with everything Jim has said about it and I do believe more and more that it does actually have intrinsic value. People are coming up with ways to use the blockchain that is beyond simply transferring money. This new network has use and therefore intrinsic value. Therefore I believe bitcoin passes the test and is money.

However, I could not find a way to put my cash into bitcoin fast enough. I had to do it in dribs and drabs over several weeks while the price was going bonkers. Quite frustrating. But still I find that my total investment is almost doubled in value within the month.

My plan was to cash out one third once it had doubled and keep the other two thirds invested. That way, I reduce my potential maximum loss to an acceptable level. I now plan to try and spend one third (as bitcoin) wherever possible that I previously would have used cash. Until that happens I am indeed vulnerable to losing the lot. But if I do, I will survive albeit further from reaching my goal (but I wasn't going to reach it anyway the way things were going).

If bitcoin does become bigger than Paypal, Google or Turkey it will probably happen pretty soon (it's already on a par with Western Union). Along the way I will use some of it to help get that farm land and keep the rest as bitcoin.

The Keiser interview Jim mentioned is really interesting. Barry Silbert sees the outcome for bitcoin as binary. Either zero or the moon. Which means you probably don't have to risk much for a potential large gain  in purchasing power.

Others may pick holes in my logic and see me as just a speculator. I don't care. A big part of the decision is also wanting to support bitcoin because I do believe in it. I don't see the decision to go with bitcoin as any different from buying gold. Only the time frames are different. Gold is for the very long term. Bitcoin is until the end of the internet.

It makes sense to me. But we are all different and my decisions wont suit the situation of others. Still, I hope this adds positively to the ongoing debate. Thanks everyone.

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I will continue to side with

I will continue to side with the 4000 year old money.  

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Bitcoin passes $1000

When I first heard Max Keiser predict this I thought he was nuts. Programmers at Bitcoinity.org had a little fun with the milestone. 

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Bitcoins in the trash

If the electronic burglars don't get your Bitcoin wallets then the local landfill site will come for you like a bogeyman in the night: 

http://www.telegraph.co.uk/technology/news/10478871/Treasure-hunt-for-4m...

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Posts: 435
Going to slit my wrists

jdye I just read your post and honestly... if I was having a bad day before - your bright and cheery assessment of the future just wanted me to end it all right now. (just kidding).  Seriously - go watch a Disney movie or something. What kind of life would be worth living with that much dread?  What are you saving up for?

 

What is life all about?  You can look hopeful or scared and cowering - it's going to happen either way.  Make the best of it.

 

Be happy!

 

mrees999's picture
mrees999
Status: Gold Member (Offline)
Joined: Aug 16 2013
Posts: 435
take the blame

My wife did something very similar with her old wedding ring. Had it stuffed in a shoe - forgot, andit was later donated.  Oops.  I'm sure it was the ring's fault, not hers.

 

:-)

 

mrees999's picture
mrees999
Status: Gold Member (Offline)
Joined: Aug 16 2013
Posts: 435
Bitcoin 10,000

I heard him predict litecoin at $50 and bitcoin 10,000. At this rate...it should be by the new year.

 

Feeling rich?

 

HAHAHA

:-)
 

mrees999's picture
mrees999
Status: Gold Member (Offline)
Joined: Aug 16 2013
Posts: 435
breast augmentation

If somebody is just scanning subject lines - that probably got your attention!

 

My breast guy recommends Amway - so I don't put too much stock into what they way.

 

:-)

 

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5809
latest BTC TA - double top at 1240

A double top formation is bearish.  An attempt was made to push BTC higher, but it has failed.  There are not enough new bullish buyers to move the price higher.  This usually leads to some sort of selloff - longs want to ring the cash register before the price drops too far.  We see this in progress now.

Now we have to look at support, which is at 1050.  A break through 1050 will likely lead to some serious selling.  If 1050 holds, we'll see what the bulls have to say - will the dip be bought, and how high will they chase BTC?

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