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Topic: Eric Sprott on gold (Read 78 times) previous topic - next topic

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  • Nikko
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Re: Eric Sprott on gold
Reply #15
that argument of they are not mined for free is bs to me. It was created by 1 man ( or a few ) with nothing backing it. Classic ponzi where the guys that created make a ton of money and in the end it will POP.
Im happy for all those " friends " of mine who have made money...but in the end lots of people will lose it all...like always.
Who knows how far it will go is correct...calling a top is foolish ( will never do it again ), but I am calling a bottom at zero.


Re: Eric Sprott on gold
Reply #16
PPS BITCOINS are not mined for free, and the costs are going up everyday

To me mining a bitcoin is nothing more than playing a costly video game and the coin is representative of getting to the highest level. With a regular game you get a big flashy screen display with lots of celebratory noise. With the bitcoin game you get an electronic token that only has value that some one is willing to voluntarily pay, either via barter, that is accepting goods or service for the coin, or cash. With government issued currency, there is the full force of the issuer's police state to force everybody to accept it for all trade, public and private.
My grandkids spend a lot of time and effort along with spending energy and internet capacity playing video games and they are not making a cent even though they win quite often. WRT that crypto backed by gold, I am not so sure I trust that, the dollar was once backed by gold and the dollar bill used to be a silver certificate. Who is going to assure the crypto backing and what is to say a form of crypto coin clipping will not take place. I an not sure the electronic coin will have serrated edges to hinder clipping.
I might be completely off base on this, but name a major business sector that has not been hacked, including the US government, financial services,, health care, even credit rating agencies; they are four of supposedly the most secure. Call me old fashion, but I would rather have a tulip.

  • Erich
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Re: Eric Sprott on gold
Reply #17
https://grisha.org/blog/2017/09/28/electricity-cost-of-1-bitcoin/ If you can figure out a way to mine BTC for free let me know.
PS I will not be posting anymore BTC posts. Peoples minds are made up and they will not be changed.

Re: Eric Sprott on gold
Reply #18
Well it certainly got active since my last check. Good stuff. One thing that can be said for CryptoCurrency is there is a lot of emotion about it.

I hope in the end it is just a big temporary scheme. Here today and gone tomorrow, but I'm having my doubts about that and I think it is more likely to stay then leave. It's a shame that such a thing is going on like this today considering the severity of the ponzi scheme scenarios. I think that Bitcoin is the father and not likely to be the winner in the end. I would be more concerned with the development of the uprising children and where they go from here. Just a viewpoint, enjoyed the content.

Re: Eric Sprott on gold
Reply #19
https://grisha.org/blog/2017/09/28/electricity-cost-of-1-bitcoin/ If you can figure out a way to mine BTC for free let me know.
PS I will not be posting anymore BTC posts. Peoples minds are made up and they will not be changed.

Maybe this is not mining bitcoins, but Fox business just reported Bitcoin was hacked for $60 million.

  • Nikko
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Re: Eric Sprott on gold
Reply #20
1260 support is broken...will be interesting to see if capitulation starts today or it gets back above support and we rebound.
IMO, all miners should be sold now and bought back lower...capitulation bottom is coming within a few months IMO.

Re: Eric Sprott on gold
Reply #21
1260 support is broken...will be interesting to see if capitulation starts today or it gets back above support and we rebound.
IMO, all miners should be sold now and bought back lower...capitulation bottom is coming within a few months IMO.

With employment report tomorrow and fed next week, a drop is all but guarenteed

  • Erich
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Re: Eric Sprott on gold
Reply #22
1260 support is broken...will be interesting to see if capitulation starts today or it gets back above support and we rebound.
IMO, all miners should be sold now and bought back lower...capitulation bottom is coming within a few months IMO.
Agreed out of all miners I still will hold SGOL.

  • Nikko
  • [*][*][*][*][*]
Re: Eric Sprott on gold
Reply #23
added DUST as a day trade at 30.55...tight stop at 30