What, I don't even... Do you even math? How does that correlate to anything at all?
I guess, it correlates to a different R squared. At least the OP's chart had an idea of where it wanted to go, your chart makes my frontal lobe hurt trying to understand what possessed you to put that line there.
I am seriously not trying to mock you or anything. I just don't follow what your point is.
I guess you are tying to say that bitcoin will fail?
No, I don't. I think, it will work until civilization will fail again. Care to make a bet on it? Lets say that you owe me 1btc in 2020 if bitcoin is successful and I will owe you $420usd which is the ATH of bitcoin of today. Seems fair right? tollface.jpg
I'm not stupid. I made a similar bet this year and I won. I mean bitcoin will fail so you would be making out like a bandit  Your chart says that we will never break the ATH again! You are wrong. It doesn't. Upon coser examination it looks like your chart is still bullish, just a lot lower  Yes, and therefore it implicates that ATH will be broken later. But seriously, what is up with this chart you made? I want to understand your position.
My position is, that the blue line depends on the R squared that we choose. |
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Well if you are choosing point then you are just drawing a line where you want it to be. It is a pretty line. I like that it is blue. The complete lack of antialiasing give is a kinda retro vibe. Not much value beyond that.
No, it's not me who chooses the data points. What, if the computer chooses only monthly (median) or yearly data points? I'm not a mathematician, I am only a philosopher and always happy to learn something. That's why I asked the Genius. Is it mathematically impossible to paint different lines? Who chooses R squared? |
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What is the r squared for your regression or did you simply draw a line on a chart?
The OP isn't saying Bitcoin will do "this" simply showing that there the line drawn has a high correlation to the known historical price points.
In other words the chart of actual price points can be simplified/reduced to the line drawn. If the trend continues (and it may not) it will generally follow the line drawn. In other words MATH ROCKS.
Can't price points be reduced to the line of my chart as well, if you simply choose fewer price points? |
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Looks pretty accurate to me. It all comes back to the binary bet: either Bitcoin more or less follows this chart, or it goes to zero. The investment proposition is simple. Determine what you think the odds of those two outcomes are, decide how confident you are in those odds, and place your bets accordingly (based on your own life situation in the context of those two outcomes and their probabilities, as well as your risk tolerance). Why accurate? And this one isn't?  |
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So many bubbles.  Yes, Bitcoin is not a bubble, it is a foam party, where bubbles are popping all the time, endlessly until the end.  |
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3 of historical 5 running.
If June 11 was the historic big One and April 2013 was not the big Three, than the pending big Three should reach 4 digit numbers. Right, master? |
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You don't feel this skyrocketing price is way too fast to be sustainable? My gut tells me we're in for a pretty heavy correction soon.
Fast? Still not fast =) I consider it sustainable so far. Yes, still not fast.  |
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Only debt-based (= state based) economies grow. No debt - no growth. Or has anyone seen the selfsufficient, untaxed, stateless communities in the rain forests or in the arctic tundras growing rampant? Without debt, there is simply no need to grow (rampant).
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 chart courtesy to oper128 Flattening out? |
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lol you wonder why have you not seen the message from knc in china ??
No, it is exploding in the U.S. as well. |
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Reminder that it's soon 3 months since Emptygox has supplied us with any sort of update with regards to the SWIFT withdrawal situation. Reminder that they still mislead people by having this on the withdrawal page: International Wire Transfers:
At the moment we are manually processing wire transfers and have a slight backlog as we create a new withdrawal system with our banking partners. Your withdrawal may take two weeks or more depending on the amount. Two weeks or more, guys. Yes, it is cristal clear criminal business behavior, and the sturles are still pushing it. That's a shame for the bitcoin community. |
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Dealer: The ones playing it smart (the banks) are open and quite transparent about it, people just don't understand it. I repeat, it's sneaky, under-the-belt and mean, but not a lie. No, this wrong. This is like saying Bernie Madoff's scheme was sneaky, smart but not a lie. The system is a fraud and the levels of deception that are employed to hide it from the people are disgusting. They use the full weight of their lackeys in the mainstream media to obfuscate and sometimes the weight of the paid off justice system to keep the level of fraud out of criminal courts by paying token fines (using their very same funny monies). It is one huge fucking fraud, up and down the river, no matter which way you look at it ... you apologists (mostly economists and academics) for such a massive scam are more part of the problem than the solution, you have been there in one form or another since 1913 egging it on and apologising for it while poor people are getting ripped off and their savings eroded and while driftless shysters and Wall St. banks who do no work for millions get away scot free. The worst and most fatal system apologists and therefore more part of the problem than a solution are those people who postulate that the one huge fucking fraud began one hundred years ago. The truth is: The fraud began with systemic Organized Violence, which was installed around 10'000 years ago, as the non-patriarchal, self-sufficient communities have been collectivized, patriarchized, patronized, subjugated and destroyed. The Society is no more the humankind; the civilist (homo oeconomicus) is not a human. Central Banks are only inherent symptoms in the system: the Society. |
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It's not the system that's wrong, it's the people trying to achieve personal gains with it.
Debt-based money is unsustainable because it requires an exponential growth of the money supply: when money is debt, paying interest on this debt requires creating more money, hence more debt. Money was debt-based from the beginning. When the tax debt to the state mafia was payable in barley, then barley was money. When it was payable in a specific metal, than this specific metal was money. The interest rates in ancient mesopotamia were much higher then today. |
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A Ponzi scheme is evil (it is a crime in fact). Fraction Reserve Banking is just a fancy name for a Ponzi scheme.
Civilization (=society, collectivism, organized violence) is a ponzy scheme from the beginning. Fractional Reserve Banking is only the logical effect of it and it is as old as the Civilization. |
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My thought is this: since fractional reserve banking basically creates money out of nothing,
It does not create money "out of nothing". Repeating the same false statement over and over again does not make it true. The money that's finally created during the process of lending is created out of the opportunity value of the lent money. What's the opportunity value of a $300,000 mortgage? The house increasing in value I would guess would be your answer. The opportunity value is precisely what you make of it. It's derived from time preference, and roughly opposite to opportunity cost. It's very difficult, if not impossible to calculate, that's why we rely on the market to determine said value. http://en.wikipedia.org/wiki/Time_preferencehttp://en.wikipedia.org/wiki/Opportunity_costFor your specific mortgage, well, how much interest do you pay? That's the opportunity value as determined by the market (with some regulation, risk-management, administration, marketing costs etc. factored in). Okay, but do you think that can go on forever?
No. So opportunity value is just an empty term you just made up and is still 'nothing'.
Google finds a few (tens of thousands) hits for the term "opportunity value", but admittedly, it's more a buzz today, whereas the term "opportunity cost", which describes (not exactly) the opposite, is much more common and well-defined. So the money is still in essence being created out of nothing and then lent out,
I'll have to repeat myself here. Money is not created out of nothing. Just because you don't understand how it comes into existence doesn't make it magic. The process of money creation is well understood, there is not substantial controversy about it amongst economists. it's an evil scheme especially if you consider the macroeconomic consequences and I'm sure you know that already. If not you should get your head out of the sand and look around.
You may find that "scheme" evil, but it made the rise of the middle classes possible at the end of the middle ages. It powered the progress of modern society towards individual liberty and democracy. I fail to see "evil" in that. Everything correct in your statement, except the last sentence. Collectivism with indebted people ( society) is always evil and against the nature of human being. There is no individual liberty in a democracy. Individualism in a collectivist society, where you are enforced to pay protection money to the mafia (church and state) and where you are ruled and terrorised by the hypercollective and its representatives, is also against the nature of human being. Natural human being is a life in non-patriarchal, non-monogamous, self-sufficient communities, beyond the state, beyond debt, and therefore beyond business and money. Pairing families and harem families are unnatural slave constructs (famulus = house slave), originally constructed by the mafia (church and state) for the purpose of paying protection money, which began about 10'000 years ago. |
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Yes, but no debt means no money, no economy, no business: self-sufficiency!
Yes, there will always be 21,000,000 BTC as money with no debt. No, they won't have any value without debt around it. Self-sufficient people beyond the state do not trade any metals with strangers. They are self-sufficient, because beyond the state and the society, there is no debt, and therefore no traded metal. There you'll find the self-sufficient community.
You can have money without debt.
You can have an economy without debt.
You can have businesses without debt.
No, never ever in the history of mankind. Business, economy and money is based on the state and on the debt to the state (Mafia). Beyond that, humans never ever needed Business and Money. They were self-sufficient, and in some rainforests, they are self-sufficient until today, because they live beyond the state and beyond debt. And therefore beyond business. They are not busy. |
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Everyone probably need to know where price will go after red 5... But I dont wanna scary you before time will come =) To wave C, anywhere above USD 32.-? |
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