I believe muggle is what Goldman Sachs calls their customers now that muppet is out of fashion.dualstow wrote:I get the Harry Potter reference, but does that mean a non investor?eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
Gold is Losing Buyers to Bitcoin
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- Kriegsspiel
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Re: Gold is Losing Buyers to Bitcoin
- dualstow
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Re: Gold is Losing Buyers to Bitcoin
RIP Marcello Gandini
Re: Gold is Losing Buyers to Bitcoin
Yes. I have a few friends that fit this mold and always seem to ask about things right as they've hit their maximum exposure. Not sure why I call them muggles... maybe because I feel like I'm magical? Lol!dualstow wrote:I get the Harry Potter reference, but does that mean a non investor?eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
Don't agree with me too strongly or I'm going to change my mind
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Re: Gold is Losing Buyers to Bitcoin
I would sell if it ever went up.Libertarian666 wrote:Perhaps you should sell all your gold and buy Bitcoin.buddtholomew wrote:So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
It can only go up!
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Re: Gold is Losing Buyers to Bitcoin
Then you're all set. It's going up every second!buddtholomew wrote:I would sell if it ever went up.Libertarian666 wrote:Perhaps you should sell all your gold and buy Bitcoin.buddtholomew wrote:So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
It can only go up!
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Re: Gold is Losing Buyers to Bitcoin
It doesn't matter. Since gold never goes up and Bitcoin always goes up, he should sell gold and buy Bitcoin!dualstow wrote:I think he means the gold.
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Re: Gold is Losing Buyers to Bitcoin
And you call them muggles? Sounds like they actually have a bit of magic in them.eufo wrote:Yes. I have a few friends that fit this mold and always seem to ask about things right as they've hit their maximum exposure. Not sure why I call them muggles... maybe because I feel like I'm magical? Lol!dualstow wrote:I get the Harry Potter reference, but does that mean a non investor?eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
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Re: Gold is Losing Buyers to Bitcoin
He still doesn’t get it, thanks for trying.dualstow wrote:I think he means the gold.
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Re: Gold is Losing Buyers to Bitcoin
Valuethinker is essentially making the same joke over at bogleheads.
RIP Marcello Gandini
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Re: Gold is Losing Buyers to Bitcoin
Oh, I get it all right.buddtholomew wrote:He still doesn’t get it, thanks for trying.dualstow wrote:I think he means the gold.
You hate gold.
Who is making you hold it?
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Re: Gold is Losing Buyers to Bitcoin
Steam has stopped accepting BTC because they're too volatile/fees.Xan wrote:I assume that they immediately convert received bitcoins to dollars. As you say, their expenses are in dollars. Unless they are choosing to speculate in bitcoins by holding them, in which case that's really a separate "business" from the real one.Kriegsspiel wrote:Something I was mulling over. Say you're a internet business who accepts btc. A while ago, something that cost a btc would also cost like, $10. Now...
How do businesses respond to massive appreciation in a currency? Did all the businesses reduce their prices, in btc, to match what the prices were in dollars (0.00137 btc/$10 as of now)? What if the btc/$ rate drops, and they're left holding btc? All their expenses are in dollars. The only real advantage is that the business could avoid the transaction fee credit companies impose, and the possibility to evade taxes. Accepting btc seems incredibly risky for businesses, unless I'm missing something.On May 22, 2010, Laszlo Hanyecz paid a fellow early adopter 10,000 bitcoin to order him two Papa John's pizzas. In those days that was more or less a fair-value exchange. Today 10,000 bitcoin is worth $12.8 million or so, and one bitcoin will buy a few more than two pizzas.
Re: Gold is Losing Buyers to Bitcoin
It happened today... I'm calling the top @ $16,000/Bitcoin.eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
I could be wrong, but here we go.
Don't agree with me too strongly or I'm going to change my mind
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Re: Gold is Losing Buyers to Bitcoin
When this crashes, we had better hope that we don't find out that the banks have "invested" in it and want to be bailed out... again.eufo wrote:It happened today... I'm calling the top @ $16,000/Bitcoin.eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
I could be wrong, but here we go.
It could certainly bring down the commodities exchanges due to busted transactions where the loser can't pay.
And that is even without leverage!
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Re: Gold is Losing Buyers to Bitcoin
I mean, that's gotta be it, right? Who else is buying these goddamn things?Libertarian666 wrote: When this crashes, we had better hope that we don't find out that the banks have "invested" in it and want to be bailed out... again.
It could certainly bring down the commodities exchanges due to busted transactions where the loser can't pay.
And that is even without leverage!
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Re: Gold is Losing Buyers to Bitcoin
My waitress at dinner, tonight. (Well, ethereum). Is this the start of a revolution or the proverbial shoe shine boy warning sign?
RIP Marcello Gandini
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Re: Gold is Losing Buyers to Bitcoin
I'm going with the shoeshine boy.dualstow wrote:My waitress at dinner, tonight. (Well, ethereum). Is this the start of a revolution or the proverbial shoe shine boy warning sign?
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.
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Re: Gold is Losing Buyers to Bitcoin
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.
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Re: Gold is Losing Buyers to Bitcoin
This is the 1979/1980 silver bubble on steroids.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.
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Re: Gold is Losing Buyers to Bitcoin
Maybe those guys got wind that their corporation was buying up BTC, since they didn't have anything better to do with their money
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Re: Gold is Losing Buyers to Bitcoin
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.
"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.
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Re: Gold is Losing Buyers to Bitcoin
dualstow wrote:By the way, that would be funny if bitcoininthevp and Marc were the same person...
...
Not the same person.
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Re: Gold is Losing Buyers to Bitcoin
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.
Taking a page out of the 60's "*tronic" and 90's ".com" playbook.
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Re: Gold is Losing Buyers to Bitcoin
I remember those well.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.
But this time it will be different!
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Re: Gold is Losing Buyers to Bitcoin
Dont forget Kodakcoin and the Kodak Bitcoin Mining Hardware. Yes, THAT Kodak!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.
https://www.kodak.com/kodakone/default.htm