Bitcoin vs Gold – Is Bitcoin Taking Investors Out Of The Gold Market
Chris Temple wraps up the markets with us today by focusing on the swings in Bitcoin over the weekend. After Bitcoin fell over $1,500 from Thursday to Sunday the news was all over the story. Chris and I discuss the possibility of Bitcoin being another bubble much like the tech bubble in early 2000. We also address the arguments that Bitcoin has distracted investors from the gold sector.
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An in depth discussion on Bitcoin and digital currencies would be short and sweet. As long as there is internet access and ATM’s work, you can use them. If you can’t hold it in your hand, you have nothing!
Markedtofuture:
If you don’t have internet access you have bigger problems than Bitcoin.
Your like the Postmaster who says E-mail is not real because there is no stamp.
How about intellectual property? Cloud based Storage? Want more?
They are probably too busy watching the roller coaster ride and panicking.
Bitcoin is not an investment. It can easily come down to 1000 or less.
Note to self:
Add Paul L. to list.
Jason:
People argue three reasons to own bitcon (1) to keep financial transactions out of the clutches of the government
http://www.zerohedge.com/news/2017-11-13/irs-puzzled-why-out-500000-coinbase-users-only-900-reported-gains-or-losses
(2) Supply is limited
And we know this is not true because bitcon keeps splitting and there are well over 1200 variations. That’s hardly limited.
(3) the price has gone up.
Well, that happened with Florida land in the 1920s, all real estate in the 2000s, Beanie Babies in the last of the last century and of course tulip bulbs.
For those who didn’t pay attention in the past, bitcon and all the variations are in a bubble. Do not confuse the real and valuable “block chain” with pseudo currencies. One has value.
Bob M :
You missed a $7500 run in Bitcoin and continue to do so.
People that hold their Bitcoin and don’t sell are called “Hoddlers”
People that missed the BitCoin run are called “CLUELESS”
Nobody is confusing anything here .In case you didn’t notice,there was no Blockchain before Bitcoin. Security of the network is where we are at now.
C’mon Bob, get a clue.
The loss of ur bitcoin due to no net may not be an issue at all, as you say, if the net goes down we have alot bigger issues than no bitcoin.
The americans are getting dna samples of Russians (according to the blogs)
pcr figures they are looking for a virus or disease that only kills Russians…..ok.
Another small point, the Russians believe the americans are preparing to hit Russia with nukes, a “first strike” they call it, the americans have not denied this once.
Will America Survive Washington? — Paul Craig Roberts (11/13/2017)
hmmm
If a person figures they really want to live after such an event leaving n america and europe might be an idea, course if ya like light shows……
No net for bitcoin is not a big deal.
The recently reported decimation of cod stocks off Alaska, that might affect everyone a little more than bitcoin.
b:
There is going to be a Bitcoin Satellite network in place by the end of this year.You won’t have to have internet to access it.
Maybe the next Alt Coin will be BitFish. Very few people understand the part Alaska plays as a protein source for the world. Kudos to you b.
I didn’t miss anything. I’m doing just fine with what I have. No one can come up with any valid reason for owning bitcon other than it’s gone up. That’s the measure of a bubble. You don’t need to know anything else.
Wanna buy some Beanie Babies cheap?
No one can up with any valid reason for owning Bitcoin other than it’s gone up?
Try this one.
Old people are old and they lack vision.
Look at the average age of those who are the new entrepreneurs of the world.
There not financing there new innovations with Gold.
I believe your absolutely correct John, we are on the verge of a whole new reality yet again.
Artemis Resources ARV.AX ARTTF First Gold Nuggets from Mt OscarWits
Ed Mead, Artemis’s Executive Director, commented;
“The discovery of these watermelon seed gold nuggets on our 100% owned Mt
OscarWits approved exploration ground, after our recent exploration work
confirmed conglomerates over a 14km strike, is significant. These nuggets are
typically smaller than what we find at Purdy’s Reward as Mt OscarWits
conglomerates appear to be less mafic.”
https://hotcopper.com.au/threads/ann-first-gold-nuggets-from-mt-oscarwits.3833918
MTF:
I’m doing a book on the 2nd Pilbara gold rush. I need to document your contribution so will you email me so I can be in contact with you.
You know what the Comet Well/Purdy’s gold looks like. What Artemis just posted pictures of doesn’t look the same to me. I think that’s from a hard rock source and not Vits gold.
I’ve tried to be congenial here,and I even held back when Jerry said to leave Cory to the mining stocks when Jason pointed out the lack of coverage of the Cryptos.
My question is: Are we here to make money?
Mr T and Corey are two more people you can add to your list that have totally missed over a $7,500 move in Bitcoin.
What part of 1277 Crypto Currencies traded on 6,544 different exchanges don’t you two understand?
By continually focussing on Bitcoin you expose to everyone your complete lack of understanding of the Cryptos.
You say greater fool theory? Tell me what part of Jr Mining stocks isn’t exactly that?
What a bunch of CRAP!
Gold investing isn’t speculation? Do a little digging and find out who Alan Greenspan’s Cronies were when he set up the futures. Do you really think the Banks are the only ones involved in the price fixing of Gold?
The train has left the station. We all know who was on it.
Bubble or no Bubble.
Talking about bubble gum, I prefer Hubba Bubba to Bitcoin! LOL! DT
Your on the list to D.T. Reality is a BITCH!
pssssst now we have discussionof oil moving higher. When it was in the 30’s all we heard was…it was going lower by all of the commentaries on this forum. period no exception. Now that it has moved up 50-60% the commentators are talking about it. Without exception they all missed the boat because lower prices always portend lower prices. Charts never work at bottoms or tops…I have yet to see a single person in 35 years get it right.
So why woukd you expect anything different?
“When it was in the 30’s all we heard was…it was going lower by all of the commentaries on this forum. period no exception.” — Dave
Dave were you reading the KER back in early 2016 when we were commenting on the double-bottom in Oil at $26 and then trading the swings on the way back up?
Here is what was being said back then, and most of the regular commentators seized the bottom at $26 and then moved back higher into the 30’s, 40’s with it, with an expectation of the low 50’s as the range for the remainder of that year.
Personally I got a bit excited at the first move down to $27 in Jan, but noted the double bottom at $26.07 in Feb. Everything is clear in hindsight, but if you read over these comments, it was a pretty good real time assessment from all the KERites….
____________________________________________________________________________
> On January 19, 2016 at 12:47 pm,
Excelsior says:
My 2 cents on Oil is we are starting to grind along the bottom channel for prices where cuts in production will start showing up (however Iran is also entering the marketplace again canceling out some of those cuts in production).
My prediction for Oil in 2016 is for the grind from the $27-$42 region to stretch out for a while, putting tons of companies out of business and exacerbating debt burdens.
> On January 19, 2016 at 3:40 pm,
Excelsior says:
I’ll admit that I did take out a small speculative gamble on oil today near the close and bought some UWTI. If Oil hits $27 I’ll add some more. Just looking for a little bounce into the low $30’s to sell it back.
> On January 21, 2016 at 8:58 am,
Excelsior says:
Yep – I’d say we’re getting the bounce in Oil big time today. Up from below $27 yesterday to $29.85 today. Gadzooks!!!
> On January 21, 2016 at 10:01 am,
Excelsior says:
I believe this move was severe enough in both Oil & the Loonie that we definitely put in a short-term bottom, and probably and intermediate bottom. I’m undecided but hopeful we could have put in THE bottom in them both, but I believe the Loonie could bottom slightly before Oil, so it is very possible.
> On January 28, 2016 at 12:19 pm,
Excelsior says:
Paul L. Do you think Oil may make it up to the mid to high $35s before topping short-term?
> On January 28, 2016 at 12:26 pm,
Paul L. says:
My target a while back my target was the 33 to 35 area and it almost hit 35 for a second and fell hard. It is looking stronger than I expected. I had expected it to fail but is holding up well. I am afraid to dump my positions because if it launches to the 38 area it could spike quickly to the 40’s once 38 is defeated and I still have losses to cover.
> On February 7, 2016 at 5:25 am,
Excelsior says:
**** Paul – I’m waiting for the next leg down in Oil to see if it does retest 26 and head lower before wading into the stocks. If Oil can’t get through 26 then I’ll start tier 1 around there.*****
> On February 11, 2016 at 9:18 pm,
Excelsior says:
***** Oil was down to $26.07 earlier but it has bounced back up to $27.64.
Paul L, do you think Oil will get down to $25 or below in the near future or was that it? ****
> On February 13, 2016 at 9:03 am,
Excelsior says:
**** LPG – I’m tempted to start wading in to Oil as well, and when oil hit $26.07 on Thursday, I was wondering if that was it? *****
>On February 17, 2016 at 3:07 pm,
Excelsior says:
Good thoughts on Oil as per usual Paul L.
Oil put in it’s low on Thursday at $26.07, it looked like that may be a bottom for the intermediate term. However, I was concerned it may pull back, so I didn’t act.
> On February 26, 2016 at 9:43 am,
Paul L says:
I think oil is getting ready to breakout above 35 soon and enter a new trading range of around 35 to 42 and then we can be sure that the bottom is in. It has been bouncing in the 26 to 34.7 area for a very long time. I saw it hit around 34.66.
>On February 27, 2016 at 5:19 am,
Excelsior says:
For Oil I am considering a swing trade on the long side in the stocks for the early part of the week, and then I may short Oil if it gets up to the $36-37 zone.
.On February 27, 2016 at 7:26 am,
Excelsior says:
**** We could have seen the double bottom in Oil recently with the $26.07 level, but I do believe after the current Oil rally puts in an intermediate top, that it will head back down lower (and drag the Loonie back down with it).
To be clear, that doesn’t mean Oil will reach or dip below $26.07; however, I’m not ruling the potential either with the current supply glut of epic proportions.
In the short-term I’m looking to bet on Oil on the long side up to $36-$37, and then potentially reverse the trade.
> On March 2, 2016 at 4:48 pm,
gary says:
I’m now about 75% convinced that stocks have completed their 7 year cycle low. If stocks have completed their multi-year cycle low then so has oil and the CRB.
Now is the time to be getting on board as everything will go up together
>On March 5, 2016 at 9:52 am,
Paul L says:
Experts can only guess where any market is going. I loaded up more on my big oil stock position at $26 to $28 oil as these were ridiculous levels that would not last long.
>On March 5, 2016 at 9:48 am,
Paul L says:
P&F is showing a $54 bullish objective for oil.
> On March 5, 2016 at 9:54 am,
Paul L says:
Bank of America recently put out a $47 forecast for oil for June.
> On March 5, 2016 at 1:49 pm,
GH says:
It looks to me like oil and the CRB have bottomed with respect to gold.
>On March 11, 2016 at 9:22 am,
Paul L says:
Oil is looking very strong and headed to the 40 to 43 area. I was expecting a correction from 38 but it did not happen but investors sold off expecting one.
>On March 11, 2016 at 11:01 am,
Excelsior says
I’m waiting on individiual Oil stocks, but may short WTI at $41, and then go long WTI oil around $33
>On March 11, 2016 at 1:05 pm,
Tom says:
Seems like there isn’t a care in the world right now. Stocks up, oil up again, PMs have a had a good rally. If you aren’t long something then you are wrong.
>On March 17, 2016 at 7:33 am,
Excelsior says:
I just purchased some DWTI to short Oil as this rally today up close to $41 is where I’ve expected things to top out. I’ve stated I expect Oil to pull back from here to $33.
My bet is that Oil is about to top and head back down and that will reverse course for the Loonie, as it will also head back down along with.
>On March 17, 2016 at 9:16 am,
Paul L says:
The experts everywhere have been wrong with oil calling for the 20’s. They are still calling a bear market after a 50% move. If gold had a 50% move you would not call that a bear market rally. It made me hesitate 2 days ago and I did not jump back in and missed some more big gains. I think it needs to correct to around the 34.50 area but it could break above 40.
> On March 17, 2016 at 11:16 am,
Excelsior says:
Paul I’ve been waiting for $41 Oil once it broke above $38, so I started shorting building a short position using DWTI today. Upon closer inspection the $42.41 $42.58 (2 significant prior troughs) and $42.52 (200 day EMA) represent the most likely resistance, so if Oil gets up to $42.50 then I’m going to heavily short Oil.
The prior trough at 34.53, the minor peak at $34.82. and the 50 day EMA at $34.59 seem like good first layer of support.
> On March 17, 2016 at 7:33 pm,
gary says:
Rick hasn’t seen much going on in oil for months. During that time oil has rallied 60%.
I have to wonder how much must an asset rally before it qualifies as significant?
We are not in deflation, We are at the beginning stages of an inflationary period. Gold and commodities would not be surging higher like this if deflation was impending.
> On March 18, 2016 at 11:14 am,
Excelsior says:
Thanks Paul for your thoughts. It sounds like we are in pretty close agreement then because I was looking for $42.50 to be the top as mentioned, and I did short Oil this morning when it hit $42.40 and got into DWTI at $118.21. DWTI made it up to $129.73 earlier and has pulled back to $126, so it does look like today may have been the short-term top in OIl.
>On March 19, 2016 at 10:50 am,
Excelsior says:
My point was that for Oil to surge to $70 like Martin Armstrong believes, it would take a major sell-off in the USD to allow that kind of rise. Personally, I just don’t see Oil at $70 any time soon. I think a range of the $30s-$50s seems most reasonable.
Hi Shad :
I left you a comment on the other blog. General Market Commentary.
Hey JohnK. OK – I’ll go look for that comment. Thanks.
Yup, Dave is full of it. I was not looking for lower oil so there’s another exception.
I am now waiting for oil to hit $54 and may do some light buying via xop but I think it needs to go to 52.50 and then I can buy heavily for a bounce up the around 59 which would be the 200 week average.
I don’t think it is time to start new positions if a person is not already in. When it held 47, I loaded up heavily.
Paul L. I had a blast looking back over our Oil discussions from early 2016, and just wanted to thank you for all your insights over the years on the Oil market.
You are one of the best I’ve seen at trading the short duration moves in Oil and the Oil stocks and just wanted to let you know that your comments are appreciated.
Thanks for the very kind comments.
UR absolutely right John, PM shares are just as much “greater fool” as bitcoin.
Only things that are not are things we buy to actually use or something that provides earnings.
Rickards was mentioning he was buying fine art, same thing, to make money,greater fool, not because he cared for the art.
Maybe after a huge crash people will again value things as per its use.
But, Chris is right, how the heck can something as unstable as bitcoin be used as a currency?
Gold is far the best imo, except ya cant buy a cupa coffee with it. lol
b:
Who said anything about Bitcoin being a Currency?
the creators of bitcoin.
b:
And now your telling me that you have read Satosi’s White Paper?
lol
Am I wrong that bitcoin has been touted as currency for years?
Which is why I didnt buy it at $3 when I first ran into it, I saw no use for it.
nobody spoke of it as a technology opportunity, just currency, the advantage being transferring funds at low cost.
b:
Everybody is trying to affix a label to Bitcoin.That is human nature I guess.
There has never been anything like Bitcoin before so Bitcoin is Bitcoin.
Bitcoin is trust and decentralization based on mathematical law.
JohnK:
Did you really say this? “Bitcoin is trust and decentralization based on mathematical law.?
That may be the most meaningless statement posted on Kereport since Bill stopped posting. It mean absolutely nothing.
Blockchain is an distributed accounting system. It’s cool and good for a lot of things but bitcon is an accident waiting for even greater fools.
More horseshit, JohnK. The “greater fool” plays a role in every market and in every aspect of life but assets like junior miners can at least be valued based on a number of real metrics. The same is not true of any cryptos..
Mathew:
You know you are on the list of those that missed the $7500 run in Bitcoin.
Money talks,Bullshit walks.
I missed it and that changes nothing. My opinion of it now would be the same had I not missed it. By your bad logic, lottery winners are geniuses.
Your attitude was everywhere at the Nasdaq top in 2000.
Mathew:
I wasn’t even investing in 2000. I had just purchased my 1st computer and 1st investing book. I’ve bought into plenty of bad investments since then.
I’ve also managed to buy into a couple of good ones.
I will be the first to admit that I have a long way to go.
I’ve taken a lot of crap here at the K E Report about my position on Bitcoin.
So far I’ve been more right than wrong. Go Figure.
I gave you an honest opinion and did not knock BC or you. It was you who dished crap after choosing to get offended.
I said all along that there is no telling how high it could go. One thing that seems to support even higher BC is the fact that shill Nouriel Roubini is calling it a bubble. He is not wrong, but his stance suggests that the bubble will grow even bigger before popping.
Roubini is the “economist” who hated gold until it had about a month left to run and he called it a buy (along with Cramer) in August, 2011.
Mathew:
That right there is the “Cop Out” answer for “I just missed a $7500.00 run in Bitcoin”
I use to listen to Nouriel and Kramer. Not any more.
Neither one of them will tell you that the housing crash of 2008 started as a Silver squeeze at Bear Stearns orchestrated by those who were still “Bitter” that they didn’t get on board with the Long Term Capital Management bailout .
For the record I’m not selling any of my Physical Gold and Silver any time soon.
CNBC and their ilk are not for me.
To miss a move in something as speculative as BC is nothing like missing a move in an asset class that has measurable value.
I used to own Netflix but missed much of the huge upside there, too, as I overestimated the intelligence of the average investor — again (I dodn’t know why I keep doing that). Most people are apparently willing to pay any price for something that is rising.
Mathew:
Guilty as charged.
My biggest fault in my investing career has been lack of patience.
The lessons have been painful.
But Hey, I’m doing what I enjoy. What more can you ask for.
JohnK:
I hope when you realize the depth of your stupidity that you are as vocal about admitting stupidity as you are as touting a bubble by every measure.
Yes, I missed the run to $7500 but I missed the collapse from $7500 as well.
Are we having fun yet?
Stupid is as stupid does. So far the accounting says I’ve been more right than wrong about Bitcoin.
Anyways I’m past Bitcoin. I’m moving on to the “Purpose Driven Cryptos” now.
I’m sure Bob you will be right there to tell me how wrong I will be on these also.
Off Topic………….
Does anybody on this site accutally believe that the US sent a manned spacecraft to the moon, & that those men walked on the surface of the moon, & returned to the US ?
Well John K, what do you think of the moon landing 50 years ago, come on fess up! DT
D.T :
Once again it is you who is asking me a question that I have never given serious thought to.
To be honest I have never had any reason to question the moon landing.
I did go to Cape Canaveral and watch them launch STS-81.I also saw the Atlas Rocket.
Anybody that has the balls to climb in that thing and be launched is good enough for me regardless whether they went to the moon or not.
Crrection:
It was the Saturn 5 Rocket of the Apollo Missions.
I heard the Chinese are planning to go up there and see if they can find that waving flag.
b, you mean the false flag! DT
B….DT……A ten ounce silver bar says they wont find anything…Why ?
Because i dont believe it can be done.
IT, I believe the technology is here now, but it absolutely wasn’t 50 years ago, but have you noticed nobody has attempted another moon landing in all those years? It still would he a huge risk and if The US tried now and failed they would be the laughing stock of The World. With all the space satellites from many different countries, and The Hubble, and the ground based observatories, you would get caught falsifying a moon landing. DT
the reason we dont go back to the moon is the long headed aliens got upset with us putting a flag on it.
I guess they figured they got there first so its theirs.
Did you know that NASA lost the original film footage?
Like JohnK, not that long ago this was something I had never questioned. Once one does, it seems like yet another ‘preposterosity’ that we Americans swallowed hook line and sinker.
http://www.checktheevidence.com/pdf/Dave%20McGowan%20-%20Wagging%20The%20Moon%20Doggie.pdf
GH:
I have to agree with you. I did find it interesting that I never have questioned the moon landing. I actually had to laugh.Could this yet be another psy-op job done on us?
I think the reason I never questioned this was that no one around me was questioning it.
Thank God for the internet. Now we can question everything.
Now that I think about it,The second biggest loss I ever took in the stock market,the company had a Space Shuttle Commander on the Board of Directors. The company was scamming everyone with a phony press release.
“Could this yet be another psy-op job done on us?”
You better believe it!
Mae Brussell: Bill Kaysing’s book We Never Went To The Moon (09-19-1977)
I’ve followed this rabbit hole for a long time, but just wanted to say thanks for posting the reuters article about how they “lost” the tapes. (likely for good reason, so that people couldn’t examine them with modern equipment).
Maybe the estate of Stanley Kubrick kept a few of them on file? 😉
Corey asks the same question “does bitcoin take away investment from gold”
He has asked this question no less that 5 times to 5 different guests in the last week. George Gero, Jeffery Christian, Craig Hemke, and of course Chris Temple today…to name a few.
I guess he didn’t have time to prepare before the intervies…so he just wings it.
Dave…I dont believe bitcoin takes away investment from gold…..
Different strokes, for different folks.
I cant recall hearing of any gold holder selling , & going into bitcoin, but i expect John K will prove me wrong.
Irish:
Physical Gold and Silver are my “Core” Investments. I also have some physical Palladium.
I would not sell any physical to buy the Cryptos. I don’t have to.
I believe a balanced approach is required when speculating. To be honest, if I had some free cash I would invest in “Purpose Driven Crypto” rather than pure speculation.
I try not to be greedy.
John k….Thank You for your reply.
I bet JImmy Hoffa is on the moon…………. 🙂
Yes, Jimmy Hoffa is in charge of unions on the dark side of the moon.
I heard Hoffa had Inspector Gadgets elevator shoes supplied by The CIA, to the moon Jimmy, and back. DT
Howdy Tony,
I have been both fascinated and mystified with the disconnect that permeates the goldbug and hard asset community as it relates to bitcoin vs gold and the argument over this thing called value.
The old world legacy use for gold still resides today in many ways, and the new technological advancements of a new-age financial/transfer breakthrough that the cryptos represent are in-fact a huge compliment to each other. I cannot understand how seemingly highly intelligent people miss this key dynamic. Its not an either/or in my view.
I don’t have a clue if some Japanese code writing technical time-traveler sitting in his labratory and writing code for years came up with Bitcoin blockchain tech or if some sinister gov operatives did, but there is no denying anymore the real world potential for the blockchain technology to expand and grow are literally free humanity in unknown ways yet to be consieved.
I believe that both the old legacy assets of gold/silver and hard assets in general and well researched and true functioning crypto companies that have real technology to benefit mankind can coexist and compliment each other.
I’m deeply grateful that I have the opportunity at my age to claim both in my personal asset holdings portfolio.
The genie is out of the bottle and it it will never go back in.
Vortex, I just saw this post, but agree with many of the points you made. Cheers!
Bitcoin is irrelevant imo. The big banks own none. That tells you all you need to know.
It is in a bubble and to vulnerable. It has nothing to do with alternatives to yen, usd, or euro. It is purely a speculation with no intrinsic value.
Good discussion y’all…………..
BITCON is a Central Bank Electronic Way to put you more in to Electronics ! Day have More Bitcoins dan Dollars ! Whats Next ? https://www.youtube.com/watch?v=K4vqi2_cCKY
One might suspect that they might make it a requirement to have an RFID chip in you to use Bitcoin and its clones. Sort of a carrier of an access code to facilitate transactions.
No chip, no Bitcoins or means to use them and of course all other forms of currency or money outside of the block chain would be illegal or nonexistent.
Steven:
Who exactly are they?
There is a very well organized group of corporations (e.g. VISA and others involved in digital payment), USAID, individuals like Bill Gates, who are working toward a cashless society.
The following links used to work, but are now dead:
Aaron Russo claimed that a Rockefeller with whom he had become friends told him a cashless society with RFID chips was the goal. Maybe in ‘From Freedom to Fascism’?
Jhayant Bhandari wrote a series of articles on the turmoil in India caused by the move against cash there of last Nov. 8.
Clearly the above parties are not goofing around.
Even at the time I saved the above links, these pages were posted at USAID, but one or both (I can’t remember) was NOT LISTED among their press releases. I only found them because of links in the comment section under some article on the move against cash in India.
Engdahl:
The Sinister Agenda Behind the Washington War On Cash
Makes ya wonder what the cryptos are actually about.
Only thing I can think to do to oppose digital is to use cash at every opportunity.
Course, that didnt help India.
R.e. cryptos, I don’t follow them closely enough to have a strong opinion, but the possibility that they serve TPTB in the transition to a cashless society can’t be discarded, imo.
Beyond being stubborn about using cash, I think, as with all these topic, spreading understanding is the key.
Sessions directs prosecutors to ‘evaluate certain issues’ involving Uranium One and Clinton, leaves door open on special counsel
EXCLUSIVE – Attorney General Jeff Sessions directed senior federal prosecutors to evaluate “certain issues” requested by congressional Republicans, involving the sale of Uranium One and alleged unlawful dealings related to the Clinton Foundation, leaving the door open for an appointment of another special counsel.
It is to be hoped that Bitcoin will show mankind the folly of investing in anything but gold, silver and productive enterprises.
Another to add to the list.Stephen Rowlandson Repeat after me. I am posting on KE Report and missed the $7500 run in Bitcoin.
Make that 1278 Crypto Currencies traded on 6544 Markets
Market Cap 206,834,127,161
24 hr vol: $14,232,992,953
BitCoin Dominance 53.6%
JohnK:
One of the easy measures of a stock market bubble is when there are more mutual funds than there are underlying stocks. Like now.
If there are 1278 crypto currencies, you are suggesting that they are limited? Limited by what? At least you could eat tulip bulbs and play with Beanie Babies (MIB)
The dollar may continue rallying and that should bring down the energy sector for the short term. The daily chart on oil is too spectacular and it should correct. I went to all cash last week.
Pop flash! Behind the scenes at GQ, you see a global org composed of a hierarchy of fashionable males that promotes youth male beauty: the lure being coveted photo ops such as Armani…
A bitcoin crash will NOT crash the markets. The market cap for bitcoin is barely a TENTH of Apple’s cash.
WE SHOULD BE TALKING ABOUT THE>>>>>>>>>>”TENTH” AMENDMENT ….where by congress did not have the POWER to establish the FED. RESever . ….and the Fed is a bogus organization.
Rich men are transferring OUR wealth to their pockets……..Sheep wake up…..
Wake Up Sheeple:
ha, ha……..good one……… 🙂
I own both. I used bitcoin sales to purchase gold. I bought bitcoin to have money outside the banking system. I figured it would take off again in 2015/16. And I Was right.
Make that 1278 CryptoCurrencies/6547 markets.
Who else wants to add their name to the list of people that continue to dole out advice and opinions on the Cryptos that missed the $7500.00 run in Bitcoin?
CryptoCurrencies and the 9/11 event have a lot in common when it comes to people.
Reposting:
$Bitcoin Vs. #Gold? Why You’re Probably Wrong About This Battle
October 27, 2017 – Katusa Research #Cryptocurrencies #PreciousMetals
“It’s been said that if you want to have an enjoyable dinner party, don’t talk about politics or religion.”
“Conversations about these topics are almost sure to get heated and irrational. They often turn calm, well-mannered people into raving lunatics.
* I believe we should add another item the banned topic list…”
$Bitcoin vs. #Gold
“In all my years in the market, I’ve seen few subjects get people riled up like Bitcoin vs. gold does. Some people hate Bitcoin and love gold. Some people love Bitcoin and hate gold. If you want to stir up a storm at an investment conference or on social media, just pick one, say it’s great, and then say the other is stupid. Then sit back and watch the insults and attacks pile up.
> “But what if zealots on both sides are being stupid?”
“What if everybody is looking at Bitcoin vs. Gold the wrong way?” – Marin Katusa
https://katusaresearch.com/bitcoin-vs-gold-youre-probably-wrong-battle/
Here’s an article out today perpetuating this ridiculous Bitcoin vs Gold narrative.
It is a waste of time as they are 2 totally different markets, with different headwinds & tailwinds and are not a substitution for one another, nor do they have to be mutually exclusive of one another. Some are trying to merge the two into digital gold, but even then, and they can always be held in tandem, or both can be ignored for that matter. It’s people’s personal preferences.
It is just getting REALLY OLD listening to each side tear down the other side, and some of it comes from this bizzaro concept of pitting them against each other like this:
_________________________________________________________
The Days Of Bitcoin ‘Stealing Gold’s Thunder’ Could Be Over
Anna Golubova – Monday November 13, 2017
http://www.kitco.com/news/2017-11-13/The-Days-Of-Bitcoin-Stealing-Gold-s-Thunder-Could-Be-Over.html
Ditto, Ex.
Even different forms of precious metals investments are extremely different in the role they can play in a portfolio. It’s all about the details and nuances.
Bitcoin is a completely different animal, with it’s own roles to play, even if it does have *some* overlap of characteristics with gold.
Well stated GH.
“The Nerdiest guy in High School just bought a Yacht. Don’t get mad learn Crypto.”
https://www.oceancoyacht.com/images/yachts/Sunrays/Y705Sunraysmainprofile1.jpg
To The Moon with Crypto Wars — Issue No. 2
November 10, 2017
Your dose of crypto news and analysis from @BTO and @Goldfinger
Shad:
Everybody is an “Expert” on the Cryptos now.
But then again they are experts on everything else to.
Unfortunately for you Shad, You made the list to of those who missed the Bitcoin run also.
Your still my go to guy on the mining stocks.
My kids always say “Geez Dad ,Your such an asshole” I think the’re right.
Lucky for them,I quit “Working” and figured out how to make money.
Yes, John, I was aware of Bitcoin earlier on and chose not to participate. In hindsight, it was the wrong decision, but I wouldn’t have speculated much on it even if I had a few years back.
Having said that, it doesn’t make someone a genius that did buy it back then, nor are they an expert because they simply bought some back then and have spent the last few years trying to figure out what it was and why it went up so much into a speculative bubble.
I don’t have an opinion really on Bitcoin, but feel being the market leader and first mover gave it much more notoriety over the other cryptos. It may get replaced at one point down the road, but I’ve said what happened to BC wasn’t significant nor important.
As for the technology and secure contracts and data security/efficiency with Block Chain technology. That is here to stay and is another new significant technology that will transform the world.
That doesn’t mean all block chain companies are real businesses nor should they be trusted. It is just like the dot com era where many companies are benefiting from the frenzy, but when the dust settles there will only be a small circle of market players.
correction, I’ve “never” said what happened in BC wasn’t significant nor important…
Shad:
I’m no Genius. We both know that. The difference between myself and 99% of the posters here is that I can admit when I’m wrong. Some people can never be wrong.
The thing with me was that there came a time when I figured out that I could make more money evaluating Crypto/Blockchain companies than Gold mining companies.
Most of my investments take about four years on average to start paying off.
Case in point: At the same time I bought into Bitcoin,I bought into Osisko mining.
One of my favorite sayings is”If your so smart,how come you don’t have more money.?”
Keep up the good work Shad.I attribute you with my attitude about sharing information with others. Many times what you give will come back in spades.
Good thoughts JohnK and yes, there are many investors that are miffed about missing the move in cryptos and in blockchain companies and in pot stocks and in Lithium and in Cobalt and in Biotech and on and on…… they often react by tearing down a sector, rather than trying to value it or understand it. Kudos to you for realizing you could make good returns in the cryptos earlier on.
As for me, I’m no genius either, and will readily admit I missed the move in Bitcoin and later in Ethereum, but I looked into at the time, and wasn’t personally interested. Like I said, in hindsight is was the wrong decision.
I have a number of friends with no other investments in stocks or mutual funds, that bought Bitcoin and gloat often about how it was so easy to see. I allow them this space to toot their horns, because they were right, and I had advised to proceed with caution a few years back (when it wasn’t so obvious) and they love to remind me of that.
Of course, a few stuck up for me, because I had issued this warning right before Bitcoin had that severe pullback a few years back, and it lasted about a year. That saved a few that listed a number of dollars by getting out of Bitcoin before that happened and locking in their gains. Some bought back in at lower prices, and some never got back in and are pissed that they had a position and sold to soon.
I understand how it feels to have been in the right place but sold too early as it happened to me with Novo earlier this year where I got a nice return, but had no idea it would scream up to the levels it has. Same thing in Garibaldi where I advised others to take a punt, and had a few bids that never got filled and then…. Boom! off to the races it went. To me Bitcoin is just another example of a big move that I missed. It happens all the time, and I’m sure it will happen again.
The great point to realize as an investor in ANY market is that there is always another train leaving the station. From what I read on the chat boards, the next big investment thesis is “Augmented Reality”…….
Let’s get in early, so that in a few years we can have a “We’re Right Party!” 🙂
As for the mining stocks, they are high throttled by nature, and since things have been a dull sideways to down slog for the last year, most (me included) would have fared better trading almost any other sector, but when the worm turns and the 2 baggers, 4 baggers, and 10 baggers start hitting again, it will have been worth the delayed gratification.
Until then….
JohnK……Fred Flinstone said it best “knowing it is half the battle”….
That was to your kids comment
The One Chart All Investors Should See Before 2018 [Cobalt]
Nov 13, 2017 – By: OilPrice_Com
“Pay close attention to this cobalt chart. Demand could be about to surge from 2k tonnes today… to over 300k tonnes in 2030. That’s a 14,900% increase in demand.”
“This Cobalt chart is the only one you really need to understand. Simply: Cobalt is never going to be cheap again, thanks to the electric vehicle revolution and a massive supply chain bottleneck coming out of Africa.”
XOP has dropped a full $2 and now that everyone is dumping I am starting to buy at 34.80 and hopefully it goes lower.
So here’s an interesting implosion…….. Comstock Mining.
I’ve been watching them unravel for years from a distance, because I was interested in their Nevada mine, and potentially under-explored resource that may have a few more surprises up it’s sleeves.
The downside to me a few years back was all their real estate based on tourism, and product line of bullion, as a side-tangent to their mining business. Fast-forward to today and they have been selling their real estate holdings to the town springing up around Tesla and Google and have paid down most of their debt on the mining company in the process.
They are now putting their focus back on mining again, have been optimizing their production schedule, and have an interesting exploration plan on a move forward basis.
After restructuring their balance sheet, they have just gotten creamed this year. I keep these spreadsheets for each sub-sector and when a company starts screaming higher or imploding downward, I like to go take a closer look.
I’m seriously considering trying to catch a falling knife here, but don’t want to get cut up in the process. I believe they’ve just reinvented themselves as a company, but the market has dismissed them a few years back, and probably still has the same concerns most did from that era.
This could be an interesting turn around story to keep tabs on. (LODE). I am concerned that they’ll get delisted soon though with their stock under $1. (Currently around $.41)
Their Corporate Presentation needs an enema, and update, but here is the Sept one:
Oh yeah….. They also just completed a reverse stock split. 😉
____________________________________________________________________
Tuesday, October 31, 2017
Comstock Mining Announces Third Quarter 2017 Results;
Announces Strategic Joint Venture, Debt Reductions, Lower Costs and Reverse Stock Split
(October 31, 2017)
“Comstock Mining Inc. (LODE) today reported selected unaudited financial results for the fiscal quarter ended September 30, 2017, and business updates.
* Third Quarter 2017 Selected Strategic and Operational Highlights
– Completed Strategic Joint Venture Option Agreement to immediately accelerate Lucerne’s assessment, drilling, engineering and development, while dramatically reducing annual costs.
– Received the 2017 Nevada Excellence in Mine Reclamation Award for most excellent mine reclamation.
– Reduced spending in every major category, achieving record low operating expenses.
– Projected lower operating spend rate of less than $3.6 million per annum, before the estimated annual cost benefits from the Joint Venture Option Agreement of an additional $1.25 million.
– Reduced long-term debt by over $1 Million from the sale of various, small non-mining properties.
– Completed federally funded column testing of Dayton mineralized materials, through Cycladex Inc., a strategic investee, for, faster, cheaper, safer leaching solutions, yielding 82-85% gold.
– Established a strategic collaboration with and funded by Itronics Inc. (ITRO), to assess reclamation cost reductions, increased leach-pad extraction potential, and the metallurgy of our mineralized materials.
– Acquired 30 unpatented lode claims with 472 contiguous acres, increasing our lands to over 9,284 acres.
– Celebrated the Nevada Department of Transportation’s USA Parkway Grand Opening Celebration, directly benefiting Comstock’s Certified Industrial Site and water rights located on the US 50 highway corridor.
– Reduced our senior secured debenture to $9.9 million, with ongoing plans to sell non-mining assets valued at approximately $14 million targeted to eliminate the remainder of our debt.
– Announced an agreement to sell 80% of the Daney Ranch to Daney Enterprises Inc., for $3.52 million cash, subject to certain closing conditions, valuing the property above plan, at $4.4 million.
– Cash and cash equivalents at September 30, 2017, were $2.3 million.
Corrado De Gasperis, Executive Chairman and CEO of the Company stated, “Our third quarter was focused and productive as we progressed various strategic initiatives, especially the Joint Venture Option Agreement with Tonogold Resources, and consummated land and water sales at high values, and reduced debt.”
Tonogold Announces Strategic Gold Joint Venture
by @newswire on October 5, 2017
“Tonogold Resources Inc (TNGL) is pleased to announce that it has entered into a binding agreement with Comstock Mining Inc. (LODE) , which amongst other things, provides Tonogold an exclusive right to earn a 51% controlling interest in 1,162 acres of mining claims in the highly prospective Comstock Lode region in Virginia City, Nevada, which includes the Lucerne Deposit, located in the Storey and Lyon Counties, as listed in Schedule 2 and depicted in the map provided in Schedule 1. ”
https://ceo.ca/@newswire/tonogold-announces-strategic-gold-joint-venture
To be clear, LODE – Comstock Mining, has been in a steady decline for some time, and is incredibly high risk, but in reading over their last few press releases, they do seem to be in the early stages of a turn around in their operations, and a better focus on just the mining.
Lastly, after a reverse stock split there is typically a little time of further selling, then a plateau, and then an impressive spike up once the new direction sinks in. Then when investors and analysts revalue a project, they may realize how undervalued it is and re-rate it higher.
There is probably still some time for it to waffle around, but I may take a stab at it during tax loss selling season. No pain no gain…..
Free book from #BrentCook circa 2012 on process of exploration
I just took a nice fat gain on Aurora Cannabis at 6.20. Bought yesterday and today. It is looking too shaky and volatile.
I sold way too soon. Thought it was getting way overbought. Then it opened up huge 2 days in a row. Yes getting scary volatile
LODE has not been just unloaded. Its been taken out to the woodshed.
haha! What a LODE! 😮
My only point was that behind that woodshed they may be starting to regroup to come out and greet the world again.
I’ve been watching them from afar for years, and now that they did the reverse split, sold the real estate, paid down their debt, and have a more intense focus on their Gold/Silver mine and grassroots exploration again, then it piqued my interest.
Also I love intense carnage in a stock, but like it when after that it goes quiet and dull. Personally, I’m keeping my eye on Comstock and if they get a final washout obliteration, I’ll probably start mopping up some of the shares as a contrarian speculation.
I’ve been doing the same thing with Troy Resources and Golden queen lately. They’ve been absolutely destroyed, but fundamentally are both working on turn around stories.
I don’t expect these all to work out with stellar results, but it doesn’t take many 5-10 baggers to cure any imbalanced in one’s portfolio.
There are actually another dozen or so miners that are in the process of reinventing themselves that I watch from a distance and a number of other Turn Around stories that I have positions in like Alexco, Excellon, Santacruz Silver, Aurcana, Red Eagle, K92 Mining, Orezone, Jaguar Mining, Inca One, Nicola Mining, Resolute Mining, Anaconda Mining, Resource Capital Gold Corp, Orefinders, etc… that I have positions in and believe will get up on their bikes and ride soon…..
At this point, I’d call Scorpio Gold a turnaround story as well.
Platinum Group Metals I’d call a survival story at this point, but there are a large number of PGM miners that are effectively in a make it or break it point and are working to turn their operations/investor perceptions/and directions around.
I still like Jubilee Platinum as an under the radar PGM & Chrome company that is quietly turning their cash flows and operations around. One day, investors will take notice, and this company will get re-rated upwards.
Speaking of Turn Around stories and K92 Mining (KNT) (KNTNF), there is news out today:
K92 Ships First Kora Concentrate under new Kora Offtake Agreement Which Includes a Provision for USD $15 Million in Non-Dilutive Capital
by @marketwired on November 14, 2017
https://ceo.ca/@marketwired/k92-ships-first-kora-concentrate-under-new-kora-offtake
(SGN) (SRCRF) Scorpio Gold Announces Filing of NI 43-101 Technical Report and Feasibility Study for Processing the Heap Leach Mineral Resource at Mineral Ridge
by @nasdaq on November 6, 2017
https://ceo.ca/@nasdaq/scorpio-gold-announces-filing-of-ni-43-101-technical
(NIM) (HUSIF) Nicola Mining Announces New Craigmont Follow Up Induced Polarization Survey Results
by @nasdaq on November 10, 2017
https://ceo.ca/@nasdaq/nicola-mining-announces-new-craigmont-follow-up-induced
(MXSG) Mexus Gold builds Merrill Crowe advanced gold recovery plant for Santa Elena Mine; Scheduled to go into production by 2nd week of November
Got out of my weed position on the bounce to 20.13. This sector is looking scary and overvalued.
At&t is in the 33 area and Verizon in the 44 area. I got rid of these before the big dividend at around 38 and 49.9 as these often get hit hard when they go ex dividend. Not going to buy these again.
Todays Grand Pu Ba in the Dinosaur Parade is none other than Bob M.
Bob has taken the distinguished position aboard the Apatosaurus.
https://www.rockwell-center.org/2015site/wp-content/uploads/2010/04/dinosaur_parade.jpg
Hey Paul L .
Good for CNBC.They are always the last to realize what exactly is happening.
Is this you and your friends listening to CNBC?
https://www.laoistoday.ie/wp-content/uploads/2017/07/Sheep.jpg
Now repeat after me. My name is Paul L . I just missed the $8,180.00 move in Bitcoin.
1281 CryptoCurrencies/6580 Markets
214,294,840,146 Market Cap
BTC Dominance 53.9%
I was actually going to buy at 2000 but there is no way to buy that on my trading system. It not like exchanging dollars to bitcoin so I did not bother. Called the bank and they had no clue either. I guess you have to deposit money with the bitcoin company directly.
The real problem was people pulling money out of Bitcoin to put into Bitcoin Cash which ran from $999 Friday night to $2,800 Sunday morning and was down to around $1150 Monday morning.
I like Chris’ take on the markets but he’s WAY behind the curve on Bitcoin.
Maybe you should get some of the Bitcoin developers on the air some time for some in depth discussion on Bitcoin.
https://www.youtube.com/watch?v=J3W6pGqvlGc