Gold is Losing Buyers to Bitcoin

Discussion of the Gold portion of the Permanent Portfolio

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dualstow
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Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Sun Nov 19, 2017 8:19 pm

I will read the pm in a sec. I just googled my wallet string which I found on page 7. Looks like I have 56 transactions and a balance of zero. Funny, I should have only one transaction:Marc’s gift. Hmm.
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Re: Gold is Losing Buyers to Bitcoin

Post by Don » Sun Nov 19, 2017 8:33 pm

Yes. I see how to get to my account and I click on make payment. It takes me to a page where I can select the amount of the bitcoin to sell and then instructs me to copy a link to my clipboard to use to send the payment. After that I don't know how to proceed. I would like to send the payment to myself somehow, but in the form of actual cash (say to Paypal if its easiest). I can get the link to make the payment but then what should I do to send the payment to myself? Thanks.
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Re: Gold is Losing Buyers to Bitcoin

Post by eufo » Sun Nov 19, 2017 10:00 pm

dualstow wrote:I will read the pm in a sec. I just googled my wallet string which I found on page 7. Looks like I have 56 transactions and a balance of zero. Funny, I should have only one transaction:Marc’s gift. Hmm.
Uh oh... sounds like you got ganked!
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Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Sun Nov 19, 2017 10:31 pm

False alarm; I was reading it wrong. Even though I googled my own wallet string, that seems to be Marc’s that I was looking at. (Zero bitcoins? Hope he has many wallets). I guess that’s the way the ledger works.

Turns out I still have the 0.1 btc. I’m sure I read that wrong a few years ago, too.
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Re: Gold is Losing Buyers to Bitcoin

Post by eufo » Sun Nov 19, 2017 11:01 pm

dualstow wrote:False alarm; I was reading it wrong. Even though I googled my own wallet string, that seems to be Marc’s that I was looking at. (Zero bitcoins? Hope he has many wallets). I guess that’s the way the ledger works.

Turns out I still have the 0.1 btc. I’m sure I read that wrong a few years ago, too.
Ended up being a quite generous gift! To hold or to sell? (sell)
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Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Tue Nov 21, 2017 9:46 am

Bitcoin and Ethereum Prices Take a Hit After Another Cryptocurrency Was Hacked
dualstow wrote:Even though I googled my own wallet string, that seems to be Marc’s that I was looking at. (Zero bitcoins? Hope he has many wallets). I guess that’s the way the ledger works.

dualstow, it's possible to look at how much cryptocurrency other people have if you know how?
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Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Tue Nov 21, 2017 9:50 am

I don't know if I'm looking at the complete picture, but it seems like if you know someone's wallet string, you can google it. It does show the balance as zero. Now I doubt Marc has zero, but maybe that particular wallet does.
I really know very little about bitcoin having done only one transaction: passively receiving fractional bitcoin from Marc.
(I'm waiting on verification from a trading site, but it appears to be out of order this week. Well, not appears. Customer service wrote back to me and confirmed it). So much for cashing out in a hurry. Maybe it'll be fixed when 1 bitcoin = $45. O0

We need to ask someone who knows what they're talking about. Where's that bitcoin_in_the_vp person? Or Pointed Stick?
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Re: Gold is Losing Buyers to Bitcoin

Post by whatchamacallit » Tue Nov 21, 2017 10:25 am

Don't forget to claim your capital gains on Bitcoin sales. Especially if it is through coinbase. I expect they will get audited if they haven't already.
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Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Tue Nov 21, 2017 11:03 am

dualstow wrote:I don't know if I'm looking at the complete picture, but it seems like if you know someone's wallet string, you can google it. It does show the balance as zero. Now I doubt Marc has zero, but maybe that particular wallet does.
I really know very little about bitcoin having done only one transaction: passively receiving fractional bitcoin from Marc.
(I'm waiting on verification from a trading site, but it appears to be out of order this week. Well, not appears. Customer service wrote back to me and confirmed it). So much for cashing out in a hurry. Maybe it'll be fixed when 1 bitcoin = $45. O0

We need to ask someone who knows what they're talking about. Where's that bitcoin_in_the_vp person? Or Pointed Stick?
Send out the

Image
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Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Tue Nov 21, 2017 11:16 am

hahaha!
Kriegsspiel wrote:
Send out the

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Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Tue Nov 21, 2017 5:04 pm

By the way, that would be funny if bitcoininthevp and Marc were the same person...
...
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Re: Gold is Losing Buyers to Bitcoin

Post by Cortopassi » Thu Nov 23, 2017 11:32 am

I wonder how this compares to oil and gas used to pull gold out of the ground.

https://powercompare.co.uk/bitcoin/
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Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Sat Nov 25, 2017 8:12 am

Cortopassi wrote:I wonder how this compares to oil and gas used to pull gold out of the ground.
Kriegsspiel wrote: Now, it's gonna take resources to make money, how does bitcoin compare to gold in the resources it takes to "make" it: bitcoin is about 7x more resource-intensive than gold. That's using an "optimistic" number for the energy requirements of bitcoin. Taken from here. But if a bitcoin is worth $6,800 and an ounce of gold is worth $1,275, maybe you could say that bitcoin is only 1.3x as resource intensive ($673 worth of currency created/barrel of oil vs $910 for gold) using the same numbers?
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Re: Gold is Losing Buyers to Bitcoin

Post by Cortopassi » Sat Nov 25, 2017 9:35 am

Kriegsspiel wrote:
Cortopassi wrote:I wonder how this compares to oil and gas used to pull gold out of the ground.
Kriegsspiel wrote: Now, it's gonna take resources to make money, how does bitcoin compare to gold in the resources it takes to "make" it: bitcoin is about 7x more resource-intensive than gold. That's using an "optimistic" number for the energy requirements of bitcoin. Taken from here. But if a bitcoin is worth $6,800 and an ounce of gold is worth $1,275, maybe you could say that bitcoin is only 1.3x as resource intensive ($673 worth of currency created/barrel of oil vs $910 for gold) using the same numbers?
Thanks. Missed that.
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Re: Gold is Losing Buyers to Bitcoin

Post by ochotona » Sat Nov 25, 2017 7:55 pm

When you stop using the "coin" part of the name, the whole issue gets framed differently:

YOU'RE TRADING CURRENCY FOR TOKEN.

Why is it when they show images representing bitcoin, they show goldeny looking coins? Because it farks with the logical part of your brains.
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Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Wed Nov 29, 2017 11:22 am

Investors who bought Bitcoin just ahead of Thanksgiving certainly have something to be thankful for. Bitcoin prices breached $11,300 Wednesday for the first time, representing a rise of over $3,100 in a week.

It’s a stunning rise for the cryptocurrency, which only just broke the psychologically important milestone of $10,000 hours earlier

snip

... both Nasdaq and Cantor Fitzgerald are looking to launch bitcoin derivatives.

http://fortune.com/2017/11/29/bitcoin-p ... e-futures/
Seems legit.
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Re: Gold is Losing Buyers to Bitcoin

Post by Cortopassi » Wed Nov 29, 2017 11:37 am

No bubble here, not at all.

I am sure some people are making out like bandits. And there's probably still a good amount of time to do it even now.

But a huge number of people are going to be screwed. I will not be one of them.

I liked the offhanded comment on gold here, making it sound bad...

“Bitcoin has no underlying rate of return,” said Bogle at a Council on Foreign Relations event on Tuesday, as reported by Bloomberg. “You know bonds have an interest coupon, stocks have earnings and dividends, gold has nothing. There is nothing to support Bitcoin except the hope that you will sell it to someone for more than you paid for it.”
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Re: Gold is Losing Buyers to Bitcoin

Post by buddtholomew » Wed Nov 29, 2017 11:41 am

So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
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Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Wed Nov 29, 2017 11:43 am

buddtholomew wrote:So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
I hope gold prices stay low until I can buy some more from selling stocks.
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Re: Gold is Losing Buyers to Bitcoin

Post by buddtholomew » Wed Nov 29, 2017 11:46 am

There's no reason to sell stocks, EVER.
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Re: Gold is Losing Buyers to Bitcoin

Post by dualstow » Wed Nov 29, 2017 12:02 pm

buddtholomew wrote:There's no reason to sell stocks, EVER.
I sell to rebalance, but of course with stocks going up like this it feels funny.
I have also sold individual stocks this year, but since my total stocks (pp + vp) feel so low (40%?), I swapped them out for some Vanguard Total Stock Market. That's something I don't mind buying "at the top."
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Re: Gold is Losing Buyers to Bitcoin

Post by Libertarian666 » Wed Nov 29, 2017 9:43 pm

buddtholomew wrote:So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
Perhaps you should sell all your gold and buy Bitcoin.

It can only go up!
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Re: Gold is Losing Buyers to Bitcoin

Post by eufo » Wed Nov 29, 2017 9:55 pm

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

Post by dualstow » Thu Nov 30, 2017 9:39 am

eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
I get the Harry Potter reference, but does that mean a non investor?

By the way, Craig was right:
https://motherboard.vice.com/en_us/arti ... itcoin-tax

Well, fine with me. Better the IRS than hackers.
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Re: Gold is Losing Buyers to Bitcoin

Post by Kriegsspiel » Thu Nov 30, 2017 11:03 am

dualstow wrote:
eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
I get the Harry Potter reference, but does that mean a non investor?
I believe muggle is what Goldman Sachs calls their customers now that muppet is out of fashion.
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