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da_cheif on Gold

predicting 5K in future

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#1 Russ

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Posted 18 December 2016 - 11:37 AM

aka Don Wolanchuk from his twitter feed late Nov... "GOLD ..a 2nd wave pullback appears to be at or near completion.....thusly allows for a blast off any time.. 5k oz is on the distant horizon"

 

I think he is a little early as my other post says low should come 1st Quarter 2017... we'll see.

 

 


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"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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#2 AChartist

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Posted 18 December 2016 - 09:10 PM

on the cusp here of breakout much above 793

 

suppose to be related to starting a series of airgaps up in silver, according to webbot.

not that means much for entertainment purposes.

 

i dont have enough bitcoin to make a difference in my life unless something historic happens over time.

 

my weekly gold cycles are below cycle levels with good snapback potential and the large 9 week cycles up should help,

 

but with another potential lowpoint in 5-6 weeks possible.

 

I really couldnt buy silver this week prices really arent much lower of the actual phys. I got two more chinese panda gold at 1181 each.

 

I would like 100 oz of scottsdale stackers here at about 1800 which is more than my lowest paid.

 

 

http://bitcointicker.co/


"marxism-lennonism-communism always fails and never worked, because I know

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#3 AChartist

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Posted 20 December 2016 - 10:56 PM

epic, was called by webbot to stair step to 788 and then flow straight over 1000 more quickly.

 

webbot has been lousy on metals but never did claim a date, this is his claim dating the rise in silver following

 

the bitcoin going over 788. So we see or not soon. he will be forever abandoned on metals if he is wrong on this time.

 

 

It then gets one pullback from over 1000 back into 888 then goes on from there never looking back.

 

But then no one would have believed this anyway.

 

 

I can imagine when it is the only currency available for international settlement when EU is broken up, 

 

obama-soros sent all the western gold trhough the east arbitrage, US is broken up into autonomous regions.

 

It can still be years when it is $1M.

 

 

When all the nations are broken up dead anarchy I can image a gold reserve on bitcoin making it the global standard.

 

 

http://bitcointicker.co/


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#4 Russ

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Posted 21 December 2016 - 07:00 AM

Who controls bitcoin and what is to stop them from creating too many bits, like printing to infinity?


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#5 AChartist

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Posted 21 December 2016 - 10:12 AM

epic new breakout overnight with volume.

 

there is a finite number of them mathematically possible because it is based on the number of prime numbers

 

possible I believe.  Sure I dont know enough but looking at it technically is real. Imagine all the nations are collapsed

 

in obama muslim ghettos and there is no such thing left as meaningful currency (like venezuela, most of europe, etc).

 

currency is only created by work, there is no such thing as meaningful work in obama-soros satanism so there is no currency.

 

I can understand at any point in time it is worth the currency that it cancelled. When buying a bitcoin that currency left the ether, cancelled.

 

If that currency is perceived to buy a mercedes then the bitcoin was the same, now how that describes bitcoin price growth I dont know yet

 

but it is related to a finite number of bitcoins versus

 

unlimited unaccountable obama debt printing such as

 

$6T announced missing through defense budget is just the last year is counterfeit computer digits.


Edited by AChartist, 21 December 2016 - 10:15 AM.

"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#6 Smithy

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Posted 21 December 2016 - 11:30 AM

Bitcoin is limited to 21 million. It takes increasingly more electricity and computer power to create them ("mining") and once 21 million is reached there are no more.



#7 Russ

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Posted 21 December 2016 - 12:32 PM

Martin Armstrong on Bitcoin... 

I am told that I will be wrong because Bitcoin has an arbitrary cap at 21 million so it cannot end up as the dollar. Sorry, if you cap it at 21 million and there are over 300 million Americans alone, just how is Bitcoin going to ever replace anything? That is the attempt of austerity and that cap would prevent it from ever being really accepted among any reasonable portion of society. Since bitcoin fluctuates in value, then why not just hold gold coins which are more acceptable worldwide. That is the value of gold above wheat and oil. It is the same quality on a global scale. That is gold’s strength compared to real estate, which is not a movable asset. Gold is the ultimate international asset for it is the same everywhere.

You can’t have it both ways. If bitcoin removes the cap to make it more acceptable, then you are back to the problem of the dollar – elastic money supply. Think through this whole problem seriously. You first have to understand the function of money and what it is and that does not include any store of wealth.

 

Bitcoin can never become a “world currency” for it is highly questionable whether or not any electronic form of money can become a true “world currency” when more than half the world does not even have a bank account. This is why Europe declared it a right to have a bank account when in fact they are really saying it is mandatory. Call it a “right” and everyone wants a “right”; call it “mandatory” and they see it as authoritarian. This is the oldest game in town. Do you buy LIFE INSURANCE to cover you if you live forever? Or is it DEATH INSURANCE in case you die early? Try selling DEATH INSURANCE and they will hang the phone up.

1863CompoundIntNotes.jpg

186410CompoundInt-Table.jpg

The reason the paper U.S. dollar is a “world currency” is because it is recognizable. You will accept it in exchange ONLY because you know someone else will take it from you. One of the reasons Bitcoin has become popular is that people have wrongly assumed the Fed creates money at free will and that the money supply should not be in the hands of the banks. This reasoning shows naivety for the Fed can create elastic money and buy assets, but those assets ultimately mature and expire. They attribute all our problems to central banks and totally ignore the fact that Congress creates the money with new debt that reverts to money, which simply pays interest as it did in the 1860s to convince people to accept it. When government bonds could not be used as collateral to borrow against, then it was less inflationary to borrow than to print. That changed in the 1970s, so note there is no difference between borrowing or printing except borrowing creates more money because we have to pay the interest.

purchasing-Manhattan.jpg

Wampum-belt.jpg

The story about the Dutch buying Manhattan from the Indians for some strings of beads and trinkets worth $24 has been a popular piece of trivia. Actually, in the Dutch National Archives, the only known primary reference to the purchase of Manhattan island is a letter written by Dutch merchant Pieter Schage, dated November 5, 1626, written to directors of the West India Company. This was in reference to the settlement of “New Netherland” and New York was first named New Amsterdam. In this letter, Schage writes, “They have purchased the Island of Manhattes from the savages for the value of 60 guilders.”

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The guilder was essentially a one-ounce silver coin of .885 fineness. Beads to us seem like a scam, but to the American natives this was money. To the ancient Chinese, cowrie shells were money. Both cases, beads or shells actually come from the same branch as gold and silver – the desirable luxury line of value.

The second branch of money is the more practical avenue where the object must have some utilitarian value. For example, this was what we call the “Bronze Age” precisely because the Minoans traveled the seas and money became bronze ingots. Bronze was the next step up in that utilitarian branch that evolved from food and then clothing. Note the shape of these bronze ingots. They are imitating the previous universal form of money in the practical utilitarian branch, like sheep skin for clothing. The four points symbolize the four legs.

Tutankamun-Coffin.jpg

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Gold and silver have no practical value. They, like shells and beads, come from the “luxury” branch where the object is simply desirable. Gold became prized because it was seen as the tears of the sun. Until it was widely discovered, only royalty could possess gold. We see it in the form of royal use in Egyptian coffins to royal cups in Greece. As gold became more common, then it moved down through the classes to become accepted as a commodity in trade.

 

Signatum-Chickens-2.jpg

The earliest form of money in Rome was simply lumps of bronze. Eventually, this became standardized by weight to save time in calculating how much metal one had for each transaction. This gave rise to coins, which began in Turkey during 7th century BC.

Electronic-Money.jpg

So within this context we must ask the question: can Bitcoin become a world currency? The answer to that is more likely than not a resounding NO. Any form of electronic money could function within the developed world, but to trade with the rest of the world we will be like the Dutch searching for beads to conclude a transaction outside the electric zone.

So we live within our developed world, but if we travel, we may find it not so easy to conduct business with electronic money just as not all places will accept a given type of credit card. Some people from Europe discover their cards do not work in the United States. This is just one example of a closed system.

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Then there is the question of government. There is a profit to manufacturing money even when it is a precious metal. This profit is called Seigniorage (also spelled seignorage) which comes from the old French seigneuriage meaning the “right of the lord (seigneur) to mint money.” It was a death sentence to counterfeit for you were depriving the king of his right to make a profit. Pictured here are Indian imitations of Roman gold coins spanning from 14 AD to 240 AD. Why not mint your own gold coins? Because there was no “trust” in government so the value of a Roman coin had a premium to just the bullion value. They did keep pace with the changing emperors.

Bitcoin will eventually clash with government for they are hunting money. They will want their piece of the action. That is just how things evolve. After the crash and burn, the system will be completely new. That is when we will have a chance to reshape the world.


Edited by Russ, 21 December 2016 - 12:37 PM.

"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#8 AChartist

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Posted 21 December 2016 - 02:05 PM

well i'm not going to argue with Armstrong but again he is supporting federal reserve with qualification of its intended form

 

not FDR hijacked abomination. I can imagine a fixed monetary system of a number of gold coins or bitcoins, such that each unit

 

of growth not each unit of economic widget value but change growth units, increases the value of the money not the numbers of the money.

 

The unconstitutional generational property confiscation is the federal reserve technology of increasing units of currency destroying generational value of labor.

 

Therefore the difference of fixed bitcoin money units is consitutional money, generational individual constitutional property rights are secured such that is should be

 

that your grandfather's labor that

 

built the railroad made the factory that filled the railroad made the jobs that filled the factory that you grandfathers labor is repaid perpetually by dividend of increasing

 

money value with growth units.

 

Constitutional money is opposite federal reserve technology. 

 

There is no reason in growth of bitcoin value that smaller fractions of bitcoin make equivalent future purchases as it should be that all productivity contributes to

 

consistently falling product prices and rising living standard and property rights perpetually aggregately. All opposite federal reserve slavery technology.

 

So I am repeating things to say a couple different ways the same thing.


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#9 Russ

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Posted 21 December 2016 - 04:44 PM

Armstrong does not support the bankers, he is predicting the whole system is going to crash and burn eventually.  I think he is right though that the governments of the world will not let a private group like bitcoin become the provider of the main currency. The governments and their owners the bankers will always prefer to be in charge of the money supply, perhaps the governments and bankers could take over bitcoin?


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#10 AChartist

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Posted 21 December 2016 - 04:45 PM

i guess bitcoin is testing the higher breakout line, it seems to be an organic market something we never saw 

 

or in our lifetime or for a while anyway.

 

I will start working it with the cycle charts. I did call it ok off the last peak applying the cycles for a very long trough. It can be tenuous

 

to extrapolate cycles to repeat off transients like the 2013 peak. I am a believer but will have to approach it technically

 

since it is really not understood. I first heard about it from webbot around $10 and just didnt research how to buy it, screwed

 

around with QEIII ponzies instead, stupid. I think I do understand it I think it can be substantiated with gold which could be a

 

day when paper is not accepted for it, just gold fungible would do that, just like that. But we have to be rigorous with technical tools,

 

same as we did with the federal reserve ponzies we didnt understand in real time.

 

If I can parlay a high to exchange for more units, if webbot continues to

 

be right about it blasting above 1000 then settles in one time to 888 I can possibly parlay 33% more units.


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan