Author Topic: Gold & Silver Prices Breaking 2015 Lows  (Read 1470 times)

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Offline r3globe

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Gold & Silver Prices Breaking 2015 Lows
« on: December 08, 2017, 03:45:02 PM »
I wrote before about the possibility of Gold breaking the $1000. I was wrong on the timing or just flat wrong. Since then Gold moved sideways at best.

It appears to me that this might be happening as we speak. Gold & Silver look very heavy here. For this scenario to happen, we need Gold to break $1050 before end of year. This will be a very substantial drop in a short period of time. Breaking the $1000 level will come sometime next year. It already looks like a lot of Gold & silver bugs are heading to bitcoin. This loss of faith is necessary for this market to finally bottom.

Offline r3globe

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #1 on: December 08, 2017, 05:47:53 PM »
I can not help but share this. I can not attest to its authenticity. It came from the Coin Compendium Forum  N16:

Quote from: Y7ASyxC on 2017 Dec 06, 11:16:02 am

Where is badon?

Sold all his coins for bitcoin, then cashed out and is sipping cocktails on his private island ;p


I call this one of the early signs of the market bottoming  N16

Offline r3globe

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #2 on: December 18, 2017, 11:06:10 PM »
It looks like the tax bill could be passed this week. I think gold will react very negatively once it passes! Dow 40,000 and gold $1000!

Offline KeyDate1/2ozPandas

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #3 on: December 19, 2017, 12:26:13 AM »
I don't think tax bill will affect gold.  Bitcoin and its cousins will.  For bitcoin to get as big as gold market it only needs to go up by another factor of 20x, which may only take another year if it repeats its 2017 performance of 24x.

Was talking with former gold panda king about bitcoins today, he was #1 registery gold panda man prior to 2008, I bought him out in spring of 2008.  He went all in on bitcoin under 2000 just a few months ago and has made multiples more money in a few months than is panda collection did from 2004-2008.   He is not planning to sell until it goes up another 5x. 

Offline aragog

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #4 on: December 19, 2017, 08:59:38 AM »
I was just reading an article at NGC newsletter and guess what? it was about bitcoins as well.
It a bit frustrating in my case, as in 2010 -2011 I was doing research on it when the price was fluctuating between 20-50 bucks and I was considering buying about 20  bitcoins at that time. I had my first gains from coins at that time. I have just sold 10 2 euro Grace Kelly coins that I bought in 2008 for 300 euro and sold them when the price went to 1000 euro. That was just before Greece issue and I was happy that I sold Grace Kelly in time. I was looking for some ten bags and was expecting that bitcoin might go up to 500, but the volatility of it made me cautious.
Now, it is aa bit frustrating, as it was once in a lifetime opportunity and there are slight chances something like that might appear again.
And then was Ethereum two years ago. I just liked the name and also studied it a bit.
But again I did not buy a single one...

The dark side is that bitcoin is more for off-shore money and criminal money, especially when the rules are stricter now, and I do not want put my hard earned money into this money laundering  machine.

I only hope that this phenomenon can push down  the fees of card payments and paypal.

Offline bender9876

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #5 on: December 19, 2017, 10:34:00 AM »
I hope it changes PayPal also

Offline KeyDate1/2ozPandas

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #6 on: December 19, 2017, 11:57:01 AM »
100,000 US accounts are being added every day, each of those accounts requires full ID verification.  Before it was dark web tool, now bitcoin is becoming a mainstreet tool. 

ICO Volume - This an indication of investment in the future
https://dms.licdn.com/playback/C4E00AQGShBV3QY74YA/9080d448426344d5a55ccf312498705a/feedshare-mp4_500/1479932728445-v0ch3x?e=1513787486&v=alpha&t=Ynver3LlDoIhs4Lkj8UkFRcme5Hk8RgJ60vdj9LM68Q

Bitcoin Adoption - attached
 
Of course investing in this opportunity now requires a lot more skill as the risk for downside is comparable to upside. 

Offline r3globe

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #7 on: December 19, 2017, 12:03:51 PM »
I do not think rise of bitcoin is the reason for gold's decline. Bitcoin price rise is a symptom of the problem. It is drawing a lot of the gold crowd into it until a spectacular and catastrophic decline in bitcoin price happens (it has to happen sooner or later). Peak of bitcoin price will probably mark the low of gold. Tax bill will be very Dollar positive and therefore a decline in Gold. 2018 is going to be very very interesting to say the least.

Offline KeyDate1/2ozPandas

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #8 on: December 19, 2017, 12:44:11 PM »
For the last 5 months I have been helping collectors sell their pandas to buy bitcoins.  Their only reason to sell was to invest in bitcoins.  I only deal in small niche, imagine all the US coin holders that are doing the same thing.  Strong dollar is a good argument, but I also expect debt levels in the US to increase due infrastructure package which will hurt dollar, it could be neutral year for the dollar.

Offline aragog

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #9 on: December 19, 2017, 02:24:37 PM »
100,000 US accounts are being added every day, each of those accounts requires full ID verification.  Before it was dark web tool, now bitcoin is becoming a mainstreet tool. 

ICO Volume - This an indication of investment in the future
https://dms.licdn.com/playback/C4E00AQGShBV3QY74YA/9080d448426344d5a55ccf312498705a/feedshare-mp4_500/1479932728445-v0ch3x?e=1513787486&v=alpha&t=Ynver3LlDoIhs4Lkj8UkFRcme5Hk8RgJ60vdj9LM68Q

Bitcoin Adoption - attached
 
Of course investing in this opportunity now requires a lot more skill as the risk for downside is comparable to upside. 
That is a good example of a technology adoption.
IMHO, much more people are investing into bitcoin than using it for payments.
And the steep growth just shows how much it will decline.
I am wondering  how does the pizzaola man feels like right now. the first transaction was 10 000 bitcoins for one pizza delivery. haha.
There has to come a new payment methods, but it won`t be blockchain technology, Can you imagine in e-technology and e-democracy age, payment to proceed for hours, days or even weeks? Or that  there are fees to speed up the process...
That`s a nonsense.
I am not a sceptical, I just regret that I did not catch that  wave.
And when all digest talk about bitcoin it is high time to sell. I will surely try some shorts on it in a half a year in case it will be still worth it.

Offline KeyDate1/2ozPandas

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #10 on: December 19, 2017, 03:45:08 PM »
Block chain is the future of payments.  Bitcoin is just the brand name that media promotes, there many others based on block chain that will be the future of payment processing.  The knowledge needed to navigate where to invest takes a lot of research and time.  I wish it was as easy as gold panda 1/2 investing.

Offline Polkrich

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #11 on: December 20, 2017, 02:26:12 AM »
Block chain is the future of payments.  Bitcoin is just the brand name that media promotes, there many others based on block chain that will be the future of payment processing.  The knowledge needed to navigate where to invest takes a lot of research and time.  I wish it was as easy as gold panda 1/2 investing.
Yes, thats my opinion too.

Offline wg

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Offline pandamonium

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #13 on: December 20, 2017, 07:22:07 AM »
jsmineset   "Crypto traders spooked after Korean bitcoin exchange files for bankruptcy"..........

Offline KeyDate1/2ozPandas

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Re: Gold & Silver Prices Breaking 2015 Lows
« Reply #14 on: December 20, 2017, 10:54:16 PM »
20-40% of all cryptocurrencies have either been stolen (hacked) or are lost forever (owner lost the keys).  Another 20-40% are locked up in long term owners hands.  This why they are so volatile, the float on them is tiny and small changes in demand can move them very quickly.  This is exactly how the internet companies of late 1990s traded, for those that traded those, the crytos are dejavu and opportunity abounds for those that remember the patterns.  For those that are seeing this for the first time, pay attention and learn how the cycle plays out and in 10-20 years another opportunity will surface and you will be ready.