I'm really hoping it will reach its intrinsic value of nothing far sooner, that way I don't even have to deal with it.Originally Posted by madfranks
Franks you better learn from Ares, pump when he pumps and dump when he dumps, the kind of faith you have in it is completely blind.
XOXO
To be clear though, I'm trading to obtain more Bitcoins.
Everyone knows the dollars days are numbered. It doesn't take a genius to see that the cracks are opening wider by the day. The more the FED tries to paper over it's abject failures the more people are going to look for an alternative. I really wish it was Gold or Silver. I truly do, but you and I both know that it's a controlled market. They dump it literally minutes before BLS stats are released, they've done it twice in a row these past two releases. You can't profit or trade in a manipulated market. You're not privy to the intel before it gets disseminated to the rest of the trading / speculating public. They take full advantage of it, whether there is a law there or not. And you know what? There isn't shit you or I can do about it.
They can pump or dump the precious metals market at anytime using naked shorts, even getting the comex in on the scam. If they can't deliver they'll settle in cash. What good is that? You have nations literally stealing peoples life savings (Poland, Argentina, Russia), or taking a 50 percent hair cut on current money in the bank (cyprus), what would you have them do? Go to their nearest precious metals dealer and buy up all that they have? What benefit is that to you or humanity as a whole? Even IF they institute a new gold backed system, its still one that leaves them in control of it. Rinse, recycle, repeat, it's a practice they've perfected for 500+ years. Gold and Silver are nice to have, but isn't going to do a god damn bit of good in the long run. It isn't going to remake this world, they control all the physical. If you don't believe that you're deluding yourself. India's populace has took to buying gold, what did the Indian government do? Shut down gold importation or tax it so heavily to make it mostly unobtainable.
That's where crypto currencies come in whether you like it or not. It's just the nature of the world we live in and where the people have been pushed too. The free market will always find a way. It doesn't always mean we have to agree with it.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
Son-of-Liberty (10th November 2013)
MtGox: 298.16
Btc-e: 269.00
Madfranks, looks like I was right this time. (it's rare lol) This is a decent correction.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
I hope it goes lower personally. I feel like there is strong resistance at the $200 mark for Bitcoin. I have nothing to prove it, but it's a gut feeling.
Same here, my gut tells me there is a strong floor at 200-250. So I'm just sitting and waiting to see some EMA cross over before I buy back in.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
That post pretty much reflects my thoughts on crypto currency in a concise and coherent manner.To be clear though, I'm trading to obtain more Bitcoins.
Everyone knows the dollars days are numbered. It doesn't take a genius to see that the cracks are opening wider by the day. The more the FED tries to paper over it's abject failures the more people are going to look for an alternative. I really wish it was Gold or Silver. I truly do, but you and I both know that it's a controlled market. They dump it literally minutes before BLS stats are released, they've done it twice in a row these past two releases. You can't profit or trade in a manipulated market. You're not privy to the intel before it gets disseminated to the rest of the trading / speculating public. They take full advantage of it, whether there is a law there or not. And you know what? There isn't shit you or I can do about it.
They can pump or dump the precious metals market at anytime using naked shorts, even getting the comex in on the scam. If they can't deliver they'll settle in cash. What good is that? You have nations literally stealing peoples life savings (Poland, Argentina, Russia), or taking a 50 percent hair cut on current money in the bank (cyprus), what would you have them do? Go to their nearest precious metals dealer and buy up all that they have? What benefit is that to you or humanity as a whole? Even IF they institute a new gold backed system, its still one that leaves them in control of it. Rinse, recycle, repeat, it's a practice they've perfected for 500+ years. Gold and Silver are nice to have, but isn't going to do a god damn bit of good in the long run. It isn't going to remake this world, they control all the physical. If you don't believe that you're deluding yourself. India's populace has took to buying gold, what did the Indian government do? Shut down gold importation or tax it so heavily to make it mostly unobtainable.
That's where crypto currencies come in whether you like it or not. It's just the nature of the world we live in and where the people have been pushed too. The free market will always find a way. It doesn't always mean we have to agree with it.
It's not like I am overly thrilled with it, and probably why I was resistant at first but....
If I want to live my life somewhat financially free what other options do I have? Gold and silver just aren't cutting it anymore.
You think that the machine is so powerful that you can't fight, when the reality is that you're the battery that powers the machine.
Ares (10th November 2013)
Maybe not now, but gold and silver's day will come, of that I'm sure. But in the meantime, it's great to have another option that is potentially quite profitable.
"Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
- Lew Rockwell
Not like I am swearing off PM's, they are important to have to but they really have not been performing considering what is actually going on in the world.
You think that the machine is so powerful that you can't fight, when the reality is that you're the battery that powers the machine.
I'm really more of a "buy and hold" person. When I try to sell on the highs and buy the dips, my timing is always really bad.
"Liberty is so creative, and the government is so stupid, that I’m very optimistic about the future"
- Lew Rockwell
Indeed but it is all being observed and judgement will eventually be met.
James 5:4 Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.
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