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The Lunatic Fringe - Trading talk.

Goldhedge

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bemac

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Sure would be nice to keep politics out of this thread, unless it's relevant to gold/silver price movement.
 

Zed

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Sure would be nice to keep politics out of this thread, unless it's relevant to gold/silver price movement.
It's going to impact gold.
 

Zed

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Can someone explain Bitcoin to me like I am 8 years old?
This is the best I can do on short notice.

It's like digital gold in a video game that EVERYONE is playing. Hard to get and has value in its context because it was built that way. Can it be copied, yes, can you get everyone to play the new game, no. Will governments ban it? They can't but they can make it very hard to access... but then other governments will welcome it and reap the benefit so there is little point... so goes the argument.

It seems destine to be this digital gold in an uneasy relationship with whatever official digital currencies arise. Much like gold and the USD etc...

Like gold it has value while people believe it has value.
 

oldgaranddad

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This is the best I can do on short notice.

It's like digital gold in a video game that EVERYONE is playing. Hard to get and has value in its context because it was built that way. Can it be copied, yes, can you get everyone to play the new game, no. Will governments ban it? They can't but they can make it very hard to access... but then other governments will welcome it and reap the benefit so there is little point... so goes the argument.

It seems destine to be this digital gold in an uneasy relationship with whatever official digital currencies arise. Much like gold and the USD etc...

Like gold it has value while people believe it has value.
My only disagreement is that gold has value whether people believe in it or not.
 

Zed

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dpong

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Value is always and only in the human mind.

[Didn't mean to be political. Sorry.] ;^)
 

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Zed

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ASX Gold Tribe are flat GREEN on the open... nothing worth getting excited about.
 

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just learned that Europe and Germany are considering another lockdown... then goes the markets
They will go full bananas over winter. This isn't over until they have crushed small to medium enterprise. They will do green deals with the big guys and in return they get to pick up the low end market share.

Me... cynical? Whatever gave you that idea?
 

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Zed

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oldgaranddad

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Goldhedge

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just learned that Europe and Germany are considering another lockdown... then goes the markets
The Intel
Europe COVID Lockdown: Multiple Countries Shut Down Again As Cases Spike
Italy, Spain, and parts of France and Germany are locking down once again.
By Megan Spurrell
October 26, 2020

Earlier this summer, much of Europe was successful in driving down COVID-19 infection rates and hospitalizations, enabling countries like Italy, France, and Spain to reopen well before parts of the U.S. But now, Europe COVID lockdowns are happening for the second time—with case numbers in some places eclipsing records from earlier this year.

Italy was the latest European country to announce such restrictions, which went into place Monday. Until November 24, bars and restaurants will now close by 6 p.m., and gyms, movie theaters, and public pools will close completely. The decree also encourages people to stay home, and to limit contacts to their immediate family, though no mandatory nationwide curfew has been put in place.

“We think we will suffer a bit this month but by gritting our teeth with these restrictions, we’ll be able to breathe again in December,” prime minister Giuseppe Conte told reporters at a Sunday press conference.

A reported 1,208 COVID-19 patients were in intensive care throughout Italy on Sunday, when the new lockdown began, which was more than on March 9 when Conte announced the country's first lockdown, reports Washington Post. That same day, October 26, a record daily total of 21,273 infections and 128 deaths were recorded. (Earlier in the summer, daily cases dropped as low as 200 per day.) These nationwide restrictions follow a series of regional curfews enacted days before, which sparked protests in both Naples and Rome.

In Spain, another former hotspot that flattened its curve with a three-month lockdown earlier this year, new restrictions were announced Saturday. A new state of emergency has been imposed, along with a national nightly curfew from 11 p.m. to 6 a.m., and gatherings of over six people are banned. Local authorities have been given free rein to restrict travel between regions.

These restrictions will be in place for 15 days, though Spain's prime minister Pedro Sánchez says he would ask parliament to extend the rules for six months if needed, warning of “tough months” ahead. More than one million cases have been reported in Spain, with 34,752 reported deaths as of Monday. New cases have increased by more than 50 percent over the past two weeks, bypassing daily case counts from April, according to The New York Times.

Cases continue to spike in neighboring countries as well. France, home to the fifth worst outbreak in the world, began locking down for a second time in late September, beginning with restaurant closures in the southern cities of Marseille and Aix-en-Provence, followed by two-week bar, gym, and pool closures in cities including Paris, announced in early October. The situation has yet to improve: This Saturday, the country announced more than 50,000 new infections, which was a new record for the fourth day in a row.
In the U.K., prime minister Boris Johnson (who contracted COVID-19 earlier this year) also announced a new wave of restrictions in late September, as infections began to rise. Pubs and restaurants were forced to close at 10 p.m. nightly, offices were closed once again, gatherings of more than six were banned, and fines were announced for anyone leaving home without a mask. These rules could last for as long as six months, Johnson says. On Sunday, nearly 20,000 new cases were reported.

Germany, lauded for how it handled COVID in the spring, has enacted two-week lockdowns in two Bavarian districts—Rottal-Inn and Berchtesgaden—over the past week, banning residents from leaving their homes without an approved reason following local spikes. Chancellor Angela Merkel has said she is eager to avoid a second nationwide lockdown, instead urging locals to minimize social activities with those outside their household. The country reported 8,685 cases on Monday, though Friday had over 14,000 new cases; in April, the peak daily case count was just over 6,000.


Poland has seen case counts double in less than three weeks, forcing the country to enter a nationwide “red zone” lockdown that has partially closed restaurants and primary schools (President Andrzej Duda has recently tested positive). Belgium, which currently has the second-highest infection rate in Europe after the Czech Republic, is also experiencing a surge of cases (with case counts nearly 8 times those recorded in the spring), forcing those who had returned to offices to work from home once again. Belgian hospitals have also suspended non-urgent surgeries, as hospital occupancy increased by 87 percent in the past week. The Czech Republic, which recorded over 12,000 new cases on Saturday, has imposed a full lockdown and closed its borders to travelers.

“The initial sentiment [when the new lockdowns began] was one of ‘oh no,’” says Andrea Grisdale, a travel specialist at ICBellagio, from her home in Lake Como, Italy. “Yet we know that we have to do whatever is necessary. If this is what it takes to get to the end of this—it's what needs to be done.”
 

Lancers32

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Thanks for all the replies. IF I want to lose all my money I would rather bet on Silver not Bitcoin or the alts. They say Gold and Silver are too volatile to be money they ought to take a gander at some of these Bitcoin and Etherium trusts that trade. 15-20% moves in a day? Worked too hard to be involved with that.
 

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They say Gold and Silver are too volatile to be money they ought to take a gander at some of these Bitcoin and Etherium trusts that trade. 15-20% moves in a day?
FWIW BTC is more considered reserve asset than money and Eth is a whole new thing in terms of scope. Kinda a smart bill of trade... maybe.
 

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Great! The new ultimate bragging rights goal for hackers to compromise and grab a few monetary digits in the process. All from the comfort of their digital lairs.
It's all over the place, there are almost daily announcements. This is moving fast. We have reached some sort of critical mass.
 

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Zed

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Zed

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ASX Gold Tribe are flat GREEN on the open... nothing worth getting excited about.
Slow burn up day, passing +3% with 1:40 to go.
 

Zed

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Arrrrghhh! Been consuming vast amounts of stuff and it's a mess out there...

I think my bottom line is buy a solid portfolio of gold producing miners, top it up with silver and some gold, stop watching the tape and hang on for around two years before you look at things again. It should be rewarding in the same way that surviving a title fight is, your bank account will be better off than your mental state.

Oh... and switch off the damn MSM.

[/rant]
 

Zed

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Bitcoin is something that has the attention of many Greater Fools and is easily replicated. #GOTCOIN?
The thing is that it isn't, "the network effect" has value. Cut and paste Facebook's code onto another server and you'd get nowhere DESPITE is being identical. Twitter same etc.

I know... getting your head around it is HARD but IIWII for now. Maybe when we get to some huge price it will be possible to replicate but I dunno. All crypto challengers seem to be going for some point of difference, things like ETH have great value for the functionality they offer etc.

Try and understand it, the future of finance will emerge from this space.
 

Zed

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Some even call it a currency despite it having no military/government backing.
Yeah, no, in the same way that gold isn't a currency these days.
 

dpong

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[Here we go.]
 

dpong

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Europe is going back to lock-down apparently. 99% chance US to follow.
 

savvydon

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A wash out here could turn into buying opportunity. This smells engineered to me. Will it extend into and thru the election?
 

oldgaranddad

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Europe is going back to lock-down apparently. 99% chance US to follow.
I think with the US the chances of lock down will be determined by who wins the election. 99% would be with Biden.
 

Lancers32

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First big down day out of the sideways probably best to wait at least a little to see where this goes today. $13.60 SILJ is enticing but you got $13 and 12 and change underneath. $23.50 Silver goes then you get action on the downside.
 

Lancers32

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HL new low CDE SILJ not as of yet. Layering in at this point SILJ waiting till end of day. Just above 13 should work but you might see red for longer than you might want. Buying deep breaks works until it doesn't. Bulls seem to be very confident this dip will be the last decent buying opp in this cycle to new highs. Do they get religion?