Gold collapsing. Bitcoin UP.

[Norway]

@cypherdoc should be here now!
[doublepost=1483551380][/doublepost]ATH at Huobi!

https://bitcoinwisdom.com/markets/huobi/btccny

EDIT: ATH at all Yuan exchanges!!!!

 

[Mengerian]

Gold collapsing. Bitcoin UP.

Bookmark for gold parity: http://preev.com/btc/xau
[doublepost=1483550548][/doublepost]Already up to 0.85 in the past 10 minutes. Gold, Bitcoin's coming for you!

Weird, if I do the calculation manually, Bitcoin@$1120/Gold@$1163 = 96%

Something seems wonky with preev.com

 

[Norway]

@Mengerian Agree!

 

[Zangelbert Bingledack]

Now 98% to parity!

 

[Norway]

USD ATH at BTC-e

 

[Zangelbert Bingledack]

1710 users on /r/Bitcoin now.

235 users on /r/btc now.

7:1 ratio when it used to be 2:1 or 3:1 during boring price times. The legacy sub has a massive advantage in this Eternal September.

 

[79b79aa8]

that's too bad, but 1700 users is nothing anyways. when the masses flock to BTC, it won't be through reddit, but through facebook.

the blocksize debate will come down to sheer market forces, silly manipulation is futile long-term.

 

[solex]

Well, the price zooming up certainly takes the heat off Core on their capacity-planning inadequacies. What will be interesting is whether all these buyers actually start to use it for transactions.

 

[satoshis_sockpuppet]

@solex A page earlier I had the same worries. But I'm not too sure no more. Segwit support isn't growing, we had a rise from 30 to 400 Unlimited nodes in a few weeks/months. These are good reasons for a price rise like this (although I'm sure a lot of buyers now buy without any knowledge in any of these topics).
ViaBTC's Unlimited announcement was the spark ignition for this.

 

[Norway]

Any ETA for the next BU version? And: Did any miners/pools request BUIP040?

 

[79b79aa8]

SEC delays action on ETF:
https://www.sec.gov/rules/sro/batsbzx/2017/34-79725.pdf

"The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,11 designates March 11, 2017 as the date by which the Commission should either approve or disapprove the proposed rule change (File No. SR-BatsBZX-2016-30), as modified by Amendment No. 1."

Good! That will be fuel for another rally. The present one seems to need none of it.

 

[solex]

@Norway
A release candidate is aimed to be out on Jan 17th, and a jump to version 1.0, about which we can say to the miners and ecosystem businesses "use this to hard-fork - take it or leave it".

 

[Norway]

@solex Great! We need to draw a line in the sand at some point. I have no idea what @Jihan is thinking, but maybe this huge, announced mining facility is part of it.

 

[sickpig]

currently ~100$ (Houibi - Bitstamp) arbitrage opportunity

 

[lunar]

@Zangelbert Bingledack I do loves me a good chart.

 

[Zangelbert Bingledack]

SEC delays action on ETF:
https://www.sec.gov/rules/sro/batsbzx/2017/34-79725.pdf

"The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,11 designates March 11, 2017 as the date by which the Commission should either approve or disapprove the proposed rule change (File No. SR-BatsBZX-2016-30), as modified by Amendment No. 1."

Translation: "We need time to buy more coins in secret before making our announcement of approval."
[doublepost=1483563567][/doublepost]@cypherdoc Seeking Alpha: Will Bitcoin Crash Gold?

Investors in East Asia are turning to Bitcoin instead of gold as a way to move wealth out of depreciating currencies and hedge against political uncertainty. Bitcoin is replacing gold as the primary haven asset, and this will create further downside pressure on gold prices around the globe.

Overall, I believe we are witnessing a demographic shift. The younger generations of retail investors are increasingly losing interest in gold. Instead of physical metal, they are turning to higher-tech cryptocurrencies as a way to protect their wealth from government shenanigans.

 

[79b79aa8]

@Zangelbert Bingledack - less ominous translation: dems will let the Trump SEC make the decision, no need for them to take responsibility for it at this point, and negligible credit to be gained.

Anyone who wants to buy, but has waffled: you had plenty of chances in the past 2 years (at $200, $400, $600, $700), what were you waiting for? . . . It may still come down to the $700-$900 range once more, or it may not.

 

[Zangelbert Bingledack]

 

[79b79aa8]

i suppose this means pro taders are realizing profits and staying in cash overnight, chinese action too unpredictable.

that ETF will be YUGE.

 

[AdrianX]

Well, the price zooming up certainly takes the heat off Core on their capacity-planning inadequacies. What will be interesting is whether all these buyers actually start to use it for transactions.

@solex the real issue is moving coins on to or off an exchange when blocks are full and demand for block space is increasing. Many bitcoiners understand how important it is to have sole control and secure ones private keys, but most don't understand the issue created by BS/Core that forces transaction congestion - via limited block size.

https://www.reddit.com/r/Bitcoin/comments/5m0n2f/psa_btc_is_rallying_hard_af_get_your_coins_off/

Lots of investors are going to get burned (Gox style) moving coins via the blockchain with stuck transaction, as a result of increasing transaction demand. When the market is moving against them it is going to damage bitcoin as an investment tool regardless if one is moving coins onto or off an exchange.

BS/Core need to own this problem. When it hit's it will be 100% their doing and the fall out could be bigger than mtGox. The question is will the masses leave bitcoin or will this happen on a small enough scale to wake people up and push them to adopt a protocol upgrade.

Bitcoin Unlimited being the best the most practical option for miners and investors to ensure potential congestion be managed effectively.

It's a pity the solution is censored from one of the most viable go to communication channels and it's sad it could have such a negative impact on bitcoin confidence/adoption.