Gold is Losing Buyers to Bitcoin

Discussion of the Gold portion of the Permanent Portfolio

Moderator: Global Moderator

Libertarian666
Executive Member
Executive Member
Posts: 5994
Joined: Wed Dec 31, 1969 6:00 pm

Re: Gold is Losing Buyers to Bitcoin

Post by Libertarian666 » Thu Dec 07, 2017 8:53 pm

dualstow wrote:My waitress at dinner, tonight. (Well, ethereum). Is this the start of a revolution or the proverbial shoe shine boy warning sign?
I'm going with the shoeshine boy.

Also there was a poster on bogleheads who said he works in a Fortune 500 manufacturing company, and EVERYONE he talks to at work has gotten in.

This is so insane that I expect something to break sometime in the next month or two.
User avatar
Kriegsspiel
Executive Member
Executive Member
Posts: 4052
Joined: Sun Sep 16, 2012 5:28 pm

Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Thu Dec 07, 2017 9:01 pm

All those Fortune 500 people have 401k's also, but you don't see stock indices gaining 1,000% in a year. I don't trust whatever's happening with cryptocurrencies right now either.
Libertarian666
Executive Member
Executive Member
Posts: 5994
Joined: Wed Dec 31, 1969 6:00 pm

Re: Gold is Losing Buyers to Bitcoin

Post by Libertarian666 » Thu Dec 07, 2017 9:05 pm

Kriegsspiel wrote:All those Fortune 500 people have 401k's also, but you don't see stock indices gaining 1,000% in a year. I don't trust whatever's happening with cryptocurrencies right now either.
This is the 1979/1980 silver bubble on steroids.
User avatar
Kriegsspiel
Executive Member
Executive Member
Posts: 4052
Joined: Sun Sep 16, 2012 5:28 pm

Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Thu Dec 07, 2017 9:08 pm

Maybe those guys got wind that their corporation was buying up BTC, since they didn't have anything better to do with their money :P
User avatar
Kriegsspiel
Executive Member
Executive Member
Posts: 4052
Joined: Sun Sep 16, 2012 5:28 pm

Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Fri Dec 22, 2017 8:45 pm

http://fortune.com/2017/12/22/bitcoin-value-loss/

"Michael Novogratz, the former Goldman Sachs Group Inc. and Fortress Investment Group LLC macro trader, said he’s shelving plans to start a cryptocurrency hedge fund and predicted that bitcoin may extend its plunge to $8,000.

“We didn’t like market conditions and we wanted to re-evaluate what we’re doing,” Novogratz said in a phone interview. He predicted last week that bitcoin could reach $40,000 within a few months."

Thanks dualstow for putting breaking news in your sig line.
User avatar
bitcoininthevp
Executive Member
Executive Member
Posts: 465
Joined: Fri Sep 25, 2015 8:30 pm

Re: Gold is Losing Buyers to Bitcoin

Post by bitcoininthevp » Tue Jan 02, 2018 7:50 pm

dualstow wrote:By the way, that would be funny if bitcoininthevp and Marc were the same person...
...

Not the same person. :)
User avatar
Kriegsspiel
Executive Member
Executive Member
Posts: 4052
Joined: Sun Sep 16, 2012 5:28 pm

Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Thu Jan 18, 2018 10:23 am

Long Island Iced Tea shares went gangbusters after changing its name to Long Blockchain

Taking a page out of the 60's "*tronic" and 90's ".com" playbook.
Libertarian666
Executive Member
Executive Member
Posts: 5994
Joined: Wed Dec 31, 1969 6:00 pm

Re: Gold is Losing Buyers to Bitcoin

Post by Libertarian666 » Tue Jan 23, 2018 5:26 am

Kriegsspiel wrote:Long Island Iced Tea shares went gangbusters after changing its name to Long Blockchain

Taking a page out of the 60's "*tronic" and 90's ".com" playbook.
I remember those well.

But this time it will be different! :P
User avatar
bitcoininthevp
Executive Member
Executive Member
Posts: 465
Joined: Fri Sep 25, 2015 8:30 pm

Re: Gold is Losing Buyers to Bitcoin

Post by bitcoininthevp » Thu Jan 25, 2018 2:09 pm

Kriegsspiel wrote:Long Island Iced Tea shares went gangbusters after changing its name to Long Blockchain

Taking a page out of the 60's "*tronic" and 90's ".com" playbook.
Dont forget Kodakcoin and the Kodak Bitcoin Mining Hardware. Yes, THAT Kodak!

https://www.kodak.com/kodakone/default.htm
Jack Jones
Executive Member
Executive Member
Posts: 522
Joined: Mon Aug 24, 2015 3:12 pm

Re: Gold is Losing Buyers to Bitcoin

Post by Jack Jones » Fri Jan 26, 2018 10:36 am

Hey bitcoininthevp,

What's your take on the Bitcoin Cash fork? You HODLing your Bitcoin Cash stake, sold it already, or growing it?
User avatar
dualstow
Executive Member
Executive Member
Posts: 14231
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Fri Jan 26, 2018 1:12 pm

MangoMan wrote:MOOC
I figured Online Course, but had to look up the rest. If anyone else is curious:
Massive Open Online Course
Sam Bankman-Fried sentenced to 25 years
glennds
Executive Member
Executive Member
Posts: 1265
Joined: Mon Jan 28, 2013 11:24 am

Re: Gold is Losing Buyers to Bitcoin

Post by glennds » Fri Jan 26, 2018 2:52 pm

dualstow wrote:
MangoMan wrote:MOOC
I figured Online Course, but had to look up the rest. If anyone else is curious:
Massive Open Online Course
Well I guess the Massive part makes it more impressive than just an online course. Ginormous probably didn't sound serious enough.
User avatar
dualstow
Executive Member
Executive Member
Posts: 14231
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Fri Jan 26, 2018 7:15 pm

O0 Trying to attract the massive multiplayer online role playing game or MMORPG crowd.
Sam Bankman-Fried sentenced to 25 years
User avatar
bitcoininthevp
Executive Member
Executive Member
Posts: 465
Joined: Fri Sep 25, 2015 8:30 pm

Re: Gold is Losing Buyers to Bitcoin

Post by bitcoininthevp » Fri Feb 02, 2018 3:49 pm

Jack Jones wrote:Hey bitcoininthevp,

What's your take on the Bitcoin Cash fork? You HODLing your Bitcoin Cash stake, sold it already, or growing it?
I believe BTC has the right scaling path. It will take longer but will be more robust.

BCH is basically increasing the # of transactions linearly by a factor of 8. So instead of 7 transactions per second BCH would support ~56 transactions/second.

For reference Visa processes average of 2000 transactions per second with peaks into 50,000+ per second.

BTC is scaling via a new layer on top of bitcoin called Lightning. It is expected to handle much higher volumes, 1000's or 10,000's per second.

Since I got BCH "for free", it is interesting for the PP crowd in that Im speculating with an asset that I didnt purchase.

Ive converted some BCH to BTC. I watch the exchange rate between the two to see when might be a time to convert more. It is also nice have BCH as a hedge if lightning doesnt come soon or work out. I suppose. I dont see ever buying BCH.
User avatar
bitcoininthevp
Executive Member
Executive Member
Posts: 465
Joined: Fri Sep 25, 2015 8:30 pm

Re: Gold is Losing Buyers to Bitcoin

Post by bitcoininthevp » Fri Feb 02, 2018 3:52 pm

MangoMan wrote:If anyone is interested, Princeton is offering a free MOOC on Bitcoin and Cryptocurrency.

http://www.openculture.com/2018/01/bitc ... ceton.html
Princeton's bitcoin course that you mention is a good course. However, for more lay people (non computer needs/programmers), I would recommend less technical videos.

If you are curious or skeptical about bitcoin I would HIGHLY recommend Andreas Antonopoulos' youtube videos. They are less technical and some are for beginners. And he does not just talk bitcoin but how it fits into the world, monetary systems, governments, etc.

https://www.youtube.com/channel/UCJWCJC ... 5DhCieLOLQ
Post Reply