Quote from: cellard on August 27, 2018, 06:31:28 PM

And what about this:

Please stop denying gold isn't any less manipulated than Bitcoin

Tinfoil hat, aliasing error, delusional nonsense. The peak and decline in gold began because of the start of the strong dollar-short vortex and the rise of the DJIA on its way to 26000 (and ultimately 40,000) as Armstrong correctly predicted back in 2011 and 2012 (despite @realr0ach's lies and cherry picking blogs out-of-context). It was a simple international capital flows phenomenon. There was and is no long-term manipulation of the gold price. You guys don't seem to understand anything about the entropy.

Remember it was @realr0ach stating back in 2016 that Armstrong was going to be incorrect about a rising DJIA and strong dollar. Well he ate his words and lost 4000% of this relative value by selling BTC for silver in October 2016. And now he is going to double-down on that mistake and lose another 1000%, to bring himself into the destitute class of -40,000% relative loses over a span of 5 years or so.

The following exponential trend of Bitcoin is undeniable because it is being adopted as the NWO international reserve currency:

https://steemit.com/trading/@anonymint/most-important-bitcoin-chart-ever (see chart on the linked page)

James A. Donald (aka "Jim", first person to communicate with Satoshi on the mailing list where Bitcoin was first announced) recently explained this adoption pattern well:

Quote from: https://blog.jim.com/politics/and-another-one-bites-the-dust/#comment-1877414

For a long time the big demand for crypto currency has been wealthy Chinese evading currency controls, but with the recent crackdown on hate speech, we are seeing massive American and European demand, which directly resulted in the recent spike in crypto currency values.

Another substantial source of demand for crypto currency, which has been around since the beginning, is buying steroids and suchlike over the internet, but the really huge move in crypto currency demand came during the recent crackdown on political activists.

Quote from: 1Referee on August 27, 2018, 08:54:19 PM

they at least know that Bitcoin will likely eat into Gold's market share even further. They'll sleep a whole lot less comfortable knowing that.

Did anyone actually click the linked chart in the quote below?

Because the chart linked below shows that physical metals have been declining in relative value inexorably. Gold is declining in relative value while Bitcoin is rising. Only someone without a brain stem would buy gold at this point. Its being rapidly phased out by technological advance.

Quote from: Traxo on August 23, 2018, 08:57:34 PM

Quote from: STT on August 23, 2018, 08:39:28 PM

I think its arrogant to believe we have altered a trend that has been in existence that long.

It's important to distinguish ego from facts (the link explains that Iron was a precious metal and money 323 B.C.). So not only is the trend of gold just a small fraction of recorded civilization, but there is a chart of an inexorable trend of decline in value for physical things at that link.

technology really has inexorably made physical things less and less valuable. And the Internet and the computer are accelerating that trend to the extent that gold is losing its function as money. Paper money was the first invention that relegated gold to second tier status, and now Bitcoin will replace the second tier as well. The fat lady is about to sing on gold.

See the link in the above quote for a historical chart (cited from the Economist magazine) of the plummeting value of commodities in general over the past two millennia. Iron used be a precious metal in 323 B.C. The value of platinum recently fell off a cliff because electric cars don't need catalytic converters (which normally contain platinum). And the PUBLIC CONFIDENCE in cryptocurrency is rising exponentially (see the above Steemit linked chart) while plummeting for gold as explained up-thread.

Quote from: realr0ach on August 28, 2018, 02:27:47 AM

What utility?

You can ask the same question about gold. Yet it was already explained to you up-thread that what makes something money is PUBLIC CONFIDENCE that it is money.

You can revisit the education that you ignored up-thread for all the details.

Quote from: realr0ach on August 28, 2018, 02:27:47 AM

If you hoard all the bitcoins in the entire world, there's no way possible for you to extort me by forcing me to buy into your artificial scarcity scam.

And you sit on your gold in your basement while your stacks of gold and silver decline in relative value to the value of a ham sandwich and we don't care. Enjoy your oblivion.

Nobody wants your precious metals anymore. You can't seem to comprehend such a simple principle. This was already explained in great detail up-thread. You rely on liquid market makers that can be regulated by the government. The common man will not accept your trinkets in payment for goods and services.

Although the common man will end up being kicked offchain from Bitcoin eventually (2024+) by the $5000+ transaction fees (as price of BTC and demand for Bitcoin transactions increase), he will increasingly accept cryptocurrency in general. And Bitcoin is the reserve currency of this brave new world.

Quote from: realr0ach on August 28, 2018, 02:27:47 AM

However, if I hoard all above ground silver in the world, people actually need it

No we don't. We can mine more of it. And besides technology makes that shit less and less valuable.

For example, soon we will have bots that can bore with A.I. directly on the ore veins and your precious metals are going to plummet in value.

Also see how electric cars have destroyed the demand for platinum, which I cited up-thread.

Of course the following is bad news for goldbugs because the more industrial demand the less monetary are the precious metals, as the recent plunge in platinum has exemplified:

https://www.materialstoday.com/metals-alloys/news/new-platinumgold-alloy-most-wearresistant/

Quote from: realr0ach on August 28, 2018, 03:16:32 AM

For anyone expecting a dollar short squeeze that Anonymint is always plagiarizing Armstrong's claim about, it damn sure ain't happening right now:

Quote from: realr0ach on August 28, 2018, 03:12:53 AM

Commercial banks are 40:1 short the US dollar right now, indicating they are front running lots of dollar decline. In the past, most bitcoin pumps in relation to fiats occurred with yuan decline and I don't recall any real bitcoin movements based on dollar decline. It seems like if yuan declines, lots of China money flows into bitcoin, which is then sent out of China and into the dollar or Vancouver housing or something. If dollar declines, the flow into bitcoin for capital flight does not occur.

They are being phased out also by this brave new NWO. They are also thus implicitly short Bitcoin, which exemplifies their decadence.

And to those who continue to be stuck on the power and Internet grid reliability non-issue, read this explanation of your myopia.