Bitshares price discussion

[Blazin8888]

Here we go ;) check out the Poloniex volume

[cylonmaker2053]

People are pumping the heck out of BTS in the polo trollbox right now.  Some guy claiming he heard about big news coming soon (big financial partner?) , and various people trying to explain Bitshares to newbies there.

Also the polo volume has been higher in some of the past few days than btc38!  I wonder if the trade is shifting.  I'd like to see polo volume rise a lot.  Its already replaced what bter used to be.

interesting...i heart rumors that make BTS popular

[Ander]

If there were any news wouldn't it make more sense to come here instead of a trollbox? Seems just like any other attempt to pump the price

Yeah, think it was an attempt to pump based on the Bank partnership news that Dan mentioned in the last mumble.

[Akado]

People are pumping the heck out of BTS in the polo trollbox right now.  Some guy claiming he heard about big news coming soon (big financial partner?) , and various people trying to explain Bitshares to newbies there.

Also the polo volume has been higher in some of the past few days than btc38!  I wonder if the trade is shifting.  I'd like to see polo volume rise a lot.  Its already replaced what bter used to be.

If there were any news wouldn't it make more sense to come here instead of a trollbox? Seems just like any other attempt to pump the price

[Ander]

People are pumping the heck out of BTS in the polo trollbox right now.  Some guy claiming he heard about big news coming soon (big financial partner?) , and various people trying to explain Bitshares to newbies there.

Also the polo volume has been higher in some of the past few days than btc38!  I wonder if the trade is shifting.  I'd like to see polo volume rise a lot.  Its already replaced what bter used to be. 

[cylonmaker2053]

At some point when there is a crisis of confidence in fiat (and there always is) then governments will have to prove their reserves to some degree. I think it's a safe bet that Western holdings are grossly overstated and Eastern holdings, especially China are understated.

true, at some point it'll be favorable for governments to declare they have vaults spilling over with gold; it's just that when that incentive exists, i'd bet every government will overstate their holdings!

great graphics, btw. great snowball fight ...i'd rather have the gold chucked on my side of the fence.

[Empirical1.2]

The recent rout was likely a Western response to China announcing an increase of 50% of their gold holdings in a single month.

http://www.zerohedge.com/news/2015-07-17/china-increases-gold-holdings-57-one-month-first-official-update-2009

China has actually accumulated a MUCH larger position, the West's only counter-response is to depress the paper price and talk down gold in the MSM, but you'll still see the physical PM market respond to situations like Greece, most notably in shortages and higher premiums.

China didnt buy that much gold in 1 month.  Thats the change over the past six years since they last released info in 2009.  And apparently they had bought a lot less than people thought they were.

Yeah, I know they didn't buy that in one month, they've accumulated it (and a much larger position since 2009) and they can announce increases whenever it's advantageous for them to do so. Someone would have to be extremely naive to think that is the total of the increases we will see announced.

There are various theories for their reasoning but this sounds fairly logical

AEP goes on to quote David Marsh, from the monetary forum OMFIF, who said "China would risk unsettling the world gold market if it revealed bullion reserves of 2,000 or 3,000 tonnes. This might be interpreted as an unfriendly move against the dollar at a "delicate time."

And from a purely logical standpoint, it would be far more sensible for the PBOC to reveal just a fraction of its gold holdings, whether it was to stabilize its stock market or to boost its chances of SDR admission, than to expose the entire vault, especially if it wanted to buy more: it doesn't take rocket surgery to realize that one can buy more assets for cheaper, if one is not exposed as amassing a huge position in a given asset.

http://www.zerohedge.com/news/2015-07-20/case-china%E2%80%99s-missing-gold

with China, or any government for that matter, we never know how close reported figures come to the truth. i also suspect they've been hoarding more gold than they've made public, and at some point i imagine they'll have incentive to pretend they have more than they do...i don't think they ever have incentive to tell the truth.

At some point when there is a crisis of confidence in fiat (and there always is) then governments will have to prove their reserves to some degree. I think it's a safe bet that Western holdings are grossly overstated and Eastern holdings, especially China are understated.

[cylonmaker2053]

The recent rout was likely a Western response to China announcing an increase of 50% of their gold holdings in a single month.

http://www.zerohedge.com/news/2015-07-17/china-increases-gold-holdings-57-one-month-first-official-update-2009

China has actually accumulated a MUCH larger position, the West's only counter-response is to depress the paper price and talk down gold in the MSM, but you'll still see the physical PM market respond to situations like Greece, most notably in shortages and higher premiums.

China didnt buy that much gold in 1 month.  Thats the change over the past six years since they last released info in 2009.  And apparently they had bought a lot less than people thought they were.

Yeah, I know they didn't buy that in one month, they've accumulated it (and a much larger position since 2009) and they can announce increases whenever it's advantageous for them to do so. Someone would have to be extremely naive to think that is the total of the increases we will see announced.

There are various theories for their reasoning but this sounds fairly logical

AEP goes on to quote David Marsh, from the monetary forum OMFIF, who said "China would risk unsettling the world gold market if it revealed bullion reserves of 2,000 or 3,000 tonnes. This might be interpreted as an unfriendly move against the dollar at a "delicate time."

And from a purely logical standpoint, it would be far more sensible for the PBOC to reveal just a fraction of its gold holdings, whether it was to stabilize its stock market or to boost its chances of SDR admission, than to expose the entire vault, especially if it wanted to buy more: it doesn't take rocket surgery to realize that one can buy more assets for cheaper, if one is not exposed as amassing a huge position in a given asset.

http://www.zerohedge.com/news/2015-07-20/case-china%E2%80%99s-missing-gold

with China, or any government for that matter, we never know how close reported figures come to the truth. i also suspect they've been hoarding more gold than they've made public, and at some point i imagine they'll have incentive to pretend they have more than they do...i don't think they ever have incentive to tell the truth.

[Empirical1.2]

The recent rout was likely a Western response to China announcing an increase of 50% of their gold holdings in a single month.

http://www.zerohedge.com/news/2015-07-17/china-increases-gold-holdings-57-one-month-first-official-update-2009

China has actually accumulated a MUCH larger position, the West's only counter-response is to depress the paper price and talk down gold in the MSM, but you'll still see the physical PM market respond to situations like Greece, most notably in shortages and higher premiums.

China didnt buy that much gold in 1 month.  Thats the change over the past six years since they last released info in 2009.  And apparently they had bought a lot less than people thought they were.

Yeah, I know they didn't buy that in one month, they've accumulated it (and a much larger position since 2009) and they can announce increases whenever it's advantageous for them to do so. Someone would have to be extremely naive to think that is the total of the increases we will see announced.

There are various theories for their reasoning but this sounds fairly logical

AEP goes on to quote David Marsh, from the monetary forum OMFIF, who said "China would risk unsettling the world gold market if it revealed bullion reserves of 2,000 or 3,000 tonnes. This might be interpreted as an unfriendly move against the dollar at a "delicate time."

And from a purely logical standpoint, it would be far more sensible for the PBOC to reveal just a fraction of its gold holdings, whether it was to stabilize its stock market or to boost its chances of SDR admission, than to expose the entire vault, especially if it wanted to buy more: it doesn't take rocket surgery to realize that one can buy more assets for cheaper, if one is not exposed as amassing a huge position in a given asset.

http://www.zerohedge.com/news/2015-07-20/case-china%E2%80%99s-missing-gold

[Ander]

The recent rout was likely a Western response to China announcing an increase of 50% of their gold holdings in a single month.

http://www.zerohedge.com/news/2015-07-17/china-increases-gold-holdings-57-one-month-first-official-update-2009

China has actually accumulated a MUCH larger position, the West's only counter-response is to depress the paper price and talk down gold in the MSM, but you'll still see the physical PM market respond to situations like Greece, most notably in shortages and higher premiums.

China didnt buy that much gold in 1 month.  Thats the change over the past six years since they last released info in 2009.  And apparently they had bought a lot less than people thought they were.

[Empirical1.2]

I wouldnt buy gold stocks right now, most of them are in debt and losing money, and the chart looks to me like they will go a lot lower.  Bitcoin/cryptocurrencies replaced gold, imo.  During the greece crisis gold just kept going down, while bitcoin rose, and the media was talking about bitcoin as the store of value.


http://www.marketwatch.com/story/why-gold-is-falling-and-wont-get-up-again-2015-07-20


"Do you remember Gold, it was sort of an analog bitcoin". :)

The gold and silver markets are cornered by large players who control the paper price.

http://www.zerohedge.com/news/2015-07-04/why-did-citigroups-precious-metals-derivative-exposure-just-soar-1260

The recent rout was likely a Western response to China announcing an increase of 50% of their gold holdings in a single month.

http://www.zerohedge.com/news/2015-07-17/china-increases-gold-holdings-57-one-month-first-official-update-2009

China has actually accumulated a MUCH larger position, the West's only counter-response is to depress the paper price and talk down gold in the MSM, but you'll still see the physical PM market respond to situations like Greece, most notably in shortages and higher premiums.

Torgny Persson, CEO of BullionStar, noted

Precious metals demand in the last week leading up to the Greek referendum has been about 150 % higher than normal both in terms of order quantity and order volume...Based on my conversations with the western world's leading refineries and precious metals wholesalers, they have experienced similar increases in the last week."

However, a surging gold price is the last thing that anybody who's concerned with maintaining the veneer of financial stability wants to see.

http://www.zerohedge.com/news/2015-07-14/gold-and-silver-stand-selling-paper-gold-and-silver-finally-ending

[Buck Fankers]

http://www.zerohedge.com/news/2015-07-20/what-happened-last-time-mainstream-media-slammed-gold

[cylonmaker2053]

I wouldnt buy gold stocks right now, most of them are in debt and losing money, and the chart looks to me like they will go a lot lower.  Bitcoin/cryptocurrencies replaced gold, imo.  During the greece crisis gold just kept going down, while bitcoin rose, and the media was talking about bitcoin as the store of value.


http://www.marketwatch.com/story/why-gold-is-falling-and-wont-get-up-again-2015-07-20


"Do you remember Gold, it was sort of an analog bitcoin". :)

lol nice... gold as an analog to bitcoin  +5%

yeah if i were a trader i would not be buying gold or mining stocks right now, but i'm loading up for a long term horizon using big dips as buying opportunities and spreading risks to the entire sector instead of specific stocks. that's just with some discretionary cash i keep in my portfolio. when i do my overall rebalancing i'll inevitably sell some winners and buy more gold and mining stocks since those have been persistent losers.

[Buck Fankers]

"Do you remember Gold, it was sort of an analog bitcoin". :)

+5%

[Ander]

I wouldnt buy gold stocks right now, most of them are in debt and losing money, and the chart looks to me like they will go a lot lower.  Bitcoin/cryptocurrencies replaced gold, imo.  During the greece crisis gold just kept going down, while bitcoin rose, and the media was talking about bitcoin as the store of value.


http://www.marketwatch.com/story/why-gold-is-falling-and-wont-get-up-again-2015-07-20


"Do you remember Gold, it was sort of an analog bitcoin". :)