Ostensibly THE BIGGEST SCAM IN THE HISTORY OF MANKIND (2 Viewers)

[SylviaB]

Investment in precious metals like silver and gold is primarily driven by fear and emotion, which is what this video is trying to tap into (as you can see in the silver graph data, silver prices were extremely bullish in the years subsequent to the GFC and the collapse of Europe- then right back down!). You will come across people who think gold is the apparent answer to everything. It's not. The market is extremely volatile and uncertain. A lot of investors tend to only trade gold in an attempt to hedge and/or mitigate risk against other investments. This idea that gold and silver will come to the rescue in times of economic downturn is laughable.

its a little more complicated than this

 

[alekovic]

Obviously, although I was merely commenting on the video and the corresponding fear drive which it is trying to instill among viewers, very much congruent with the sentimental factors influencing gold/silver prices - if it's a crisis, buy gold!

 

[SylviaB]

the dot com bubble was driven by pure logic and reason

 

[funkshen]

invest in stamps

 

[isildurrrr1]

what about tramp stamps?

 

[Graney]

Put all your money in bitcoin immediately (srs).

 

[SylviaB]

Put all your money in bitcoin immediately (srs).

that doesnt seem wise right now


whislt there's obvious resistance at the ~230 level the fact that the sell-off was short-lived and prompted more buying is a good sign in the short-term. however, I wouldn't be surprised if there wasn't a reversal pattern forming, though its too early to tell right now.

like if you mean buy in and then sell on the next rally, its still risky, but maybe. But if you mean pour into it and hold on, then I dont think so. I mean if you think that bitcoin is going up with going significantly below its current price then I'd reconsider.

I've actually never traded bitcoins though, how liquid are they?

 

[Graney]

Idk I was just being glib, abusing the srs tag, I like bitcoin zealotry as a meme. There's so much govt opposition and legal action against exchanges for the foreseeable future, it is an unresolved problem. I have no idea how they can be converted to aud.

 

[SylviaB]

There's so much govt opposition and legal action against exchanges for the foreseeable future, it is an unresolved problem.

unfortunately thats why I never got into them in the first place.

 

[funkshen]

there are bitcoin exchanges that accept AUD (MtGox, btcmarkets, LocalBitcoins)

there are several OTC bitcoin outfits with offices in Australia

a number of exchanges allow deposits to be made in australian banks (CBA, Westpac, etc)

how 'liquid' BTC is depends on where you're trading BTC, and is subject to change. the size of the exchange is obviously the biggest factor; most people are satisfied with the liquidity exchanges like Bitstamp and MtGox provide, but the volumes traded (as an absolute quantity or proportion of total volume of bitcoins) are nowhere what proper financial markets experience. MtGox is facing serious legal challenges so might be very liquid in the morning and fucked in the afternoon.

if you're not trading in huge quantities you will probably be satisfied, and subject to very little risk that you won't be able to cash out.

reporting bitcoin earnings to the ATO is currently a nightmare.

 

[Graney]

How do you know so much about bitcoin, the quran, french domestic politics, etc, are you some kind of savant.

MtGox is facing serious legal challenges so might be very liquid in the morning and fucked in the afternoon.

What are you talking about bro, this video clearly demonstrates there are no problems at mtgox

[youtube]UP1YsMlrfF0[/youtube]

 

[Garygaz]

bitcointrader.com.au

anonymous purchasing

you can also buy cash through the mail from the right sites for between a 5-10% commission, and obviously some risk too.