Given how mining work for bitcoin, I do not think the price will stable.
It has to keep going up so miners can have "profit" in either profit or transaction fee.
Well, it can still go up and be relatively stable as well. Generally speaking if something is rising in price at a rapid rate it will not be considered stable. Well it could be rising in price relative to the USD but still stable relative to gold and oil. I.e. the USD is going down instead of bitcoin going up. |
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Are theese cards good or bad for bitcoin? Are business like amazon avoiding accep bitcoin with this cards?
A lot of people change their bitcoins for gift cards when they need buy something. They can do it, but are they hurting bitcoin or helping it?
Well, Amazon for example still has incentive to accept bitcoin over giftcards. They get a much higher total amount of profit from a theoretical direct bitcoin purchase over a gift card or credit card purchase. Why would they have an incentive to accept bitcoin over their own branded gift card? I would argue the opposite. Once a gift card is paid for Amazon will have zero incremental costs in accepting the gift card as payment. They know 100% that the money is there. Because when you buy a gift card through Gyft or another company you're getting few percent off the value and the company selling the gift card has to make a profit as well. So Amazon is selling them to the company at a pretty large discount relative to what they would be paying if they used BitPay to directly accept bitcoin(around 1% I think). Actually, while most companies do take off a certain percent, Gyft doesn't. In fact, you get bonus points which you can redeem for even more gift cards. Well I mean that Amazon is selling the cards to Gyft for a good chunk less than face value so that Gyft has some room to make a profit. And yeah Gyft gives back a lot, which makes me wonder what their profit margins are like. |
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People seem to be just so anti-regulation because they think bitcoin doesn't need it, but if bitcoin is going to become mainstream it's going to require some in certain areas wether you like it or not.
What sort of areas are you referring to in particular? |
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OK Rpietila, right now XMR lacks a official GUI(there are GUI's, but not "official") and a resolve to the Blockchain bloat/scale.
Once XMR has an official GUI, and a resolve to the Blockchain bloat/scale, what is your valuation on what XMR's price should be then?
The realistic upper limit on BTC's price is 25% of world's wealth (ie ~5M$/ BTC). The realistic upper limit for XMR is 25% of BTC (ie ~0.25 BTC/XMR). I think the development of GUI is priced in, so it will be a negative event if we fail to deliver it. Yeah, the GUI pretty much has to be priced in since it's a pretty trivial/inevitable thing. |
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This could be huge for bitcoin. I wonder how much of this is already priced into the market at this point. Maybe it's not really priced in yet since it's not clear how popular this will be.
Either way, to me this is one of the most exciting things to happen to BTC in a very long time.
I think it's not priced in, because it will generate new inflow of capital. Significant amounts... Although I'm not that excited, because it seems to be a little bit backwards-oriented: Investing in a new monetary concept using an investment vehicle that is effectively invalidated by the new monetary concept. When will it launch? ya.ya.yo! Yeah, in a way it does defeat the overall purpose of bitcoin. But a lot of people and groups can not invest in bitcoin and have to invest in securities. So this is just the market figuring out a way to offer them a chance at the value that bitcoin provides. It almost sounds too good to be true. Maybe I'm overestimating the potential. |
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Business, for their own interest, will provide competitive price and quality service.
Exactly. That is the nature of free and open markets. Reputation is as much a currency as bit coin or fiat. That's true, but it's still in consumers best interests as a group to maximise their value. |
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bitcoin is already regulated. AML and KYC is regulation.
but you can do everything from that to 80% taxes on every transaction. problem is: other countries will not follow your rules.
Companies that handle money are regulated. That's not quite the same as bitcoin itself being regulated. |
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Path of Exile is pretty refreshing. I haven't had too much time to play with it, but it looks like they really did do away with a "main" gold-like currency pretty well. I've played with a few others trying to do away with a main currency and they always felt very restrictive, but PoE does more of a hybrid system than completely doing away with "normal currency." The crafting/selling hybrid system is totally unique, too, AFAIK. Haven't cracked into much of the game, though - haven't found a rare item or map mod, yet.
Pleased that the skill tree is completely overwhelming at first glance. Nice to be able to sit back and study something again, restudying it over and over as I progress and want to work with the items and gems I have without everything being intuitive and obvious. Multiplayer being very clearly opt-in is nice, too, though I'd guess it's necessary on highest difficulties (did first roll on Ambush to get working knowledge of game).
Path of Exile is awesome, I played it religiously for half a year. Once you get used to it, my favorite part is running whatever new hardcore league is currently up and doing races. I would literally die and start over in the Nemesis league over 40 times - I didn't care that I lost all my progress because it was so competitive and fun to progress and learn. And Races are just the most competitive thing I've played in the longest time - you compete against thousands of other players, and to get into the top 10 or 20 position for a race is just an awesome feeling. Plus you get rewards if you do well over the Race season as well. The game just has such a refreshing amount of depth compared not just to Diablo 3, but to any non-indie release. Sure, it doesn't look and feel as flashy as the more polished AAA games, but it will take you literally over a year to learn everything in the game. And if you only play hardcore, it will probably take you a very long time just to reach the end-game part when you start running maps. I haven't even progressed that far because I haven't played the normal league at all. Yeah. I can't wait for the new leagues. I really want to see what GGG will come up with this time. I really liked Nemesis league. You always had to be paying attention or you would die. Corrupted blood, storm herald ect will get you easily. I didn't really play much Invasion league but a lot of people said it was too hard, which is pretty amazing considering how hardcore the player base is. I'll probably be playing PoE every four months as long as they're putting out content. Which is going to be a long time by their estimation. Full expansion with Act 4 is going to be insane when that comes. The only thing I don't really like is the archaic trading system of having to go meet people in town and spam chat channels, but they are fixing that soon. Other than that it's probably one of the best designed games of all time. |
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Ok: https://i.imgur.com/qC5HFQi.pngBtw next time i need size, and this should follow the "global" design of BitMark. If BitMark has not, should be created before every graphics.  That looks like it will go well there. Good work. |
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Or at least different market caps for different levels of stability.
What is your estimate for +-1% variation and +-3% variation. Or what do you think is the most realistic +-% range that we'll see?
Gold is what, 9 trillion? And it's still often volatile. I'm guessing this is purely due to speculation.
Do you consider gold stable? Not really. But it's a lot more stable than bitcoin and and if bitcoin were ever to become as volatile as gold I would consider that a big step forward. |
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Are theese cards good or bad for bitcoin? Are business like amazon avoiding accep bitcoin with this cards?
A lot of people change their bitcoins for gift cards when they need buy something. They can do it, but are they hurting bitcoin or helping it?
Well, Amazon for example still has incentive to accept bitcoin over giftcards. They get a much higher total amount of profit from a theoretical direct bitcoin purchase over a gift card or credit card purchase. Why would they have an incentive to accept bitcoin over their own branded gift card? I would argue the opposite. Once a gift card is paid for Amazon will have zero incremental costs in accepting the gift card as payment. They know 100% that the money is there. Because when you buy a gift card through Gyft or another company you're getting few percent off the value and the company selling the gift card has to make a profit as well. So Amazon is selling them to the company at a pretty large discount relative to what they would be paying if they used BitPay to directly accept bitcoin(around 1% I think). |
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Total number of coins to ever be minted? Why is that more helpful than the standard market cap calculation?
It tells us the real picture. I don't know about you but I always compare coins using that metric alone. But generally shouldn't the market be taking the future supply curve into account when pricing? Or do you think that these markets are so inefficient that they don't reflect the reality?(Likely) And I can assume that is one of the major reasons you consider XMR a sound investment. The market doesn't reflect the coins true value? What would a fair valuation look like right now in your opinion? |
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regulation would look like this
complete shutdown of all em/electrical signals in the entire world
which equals impossible
the system is designed to be uncrackable
or replaced with a better uncrackable system if the first one
becomes redundant
Well regulation might not be effective, but how exactly would they try to regulate? What would they even do, attempt to make people register wallets or something? AML/KYC stuff? Is that the main issue? |
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Business, for their own interest, will provide competitive price and quality service.
But it's still in consumers best interest to get as much as they can from the business via organization. This way they can negotiate as a group. And it's in the best interest of the business to cooperate as well. Best way to reach an equilibrium. But people have to realise that their aggregate spending has power and that their power should be used to their advantage. |
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Bitcoin Foundation.  They already do everything but take responsibility. If someone has to take the heat, why not them? |
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Explain this to me: Why is it that the market doesn't trust Monero if it has so solid fundamentals? Why is it that 100% instamined PoW/PoS hybrids appear out of nowhere, and just by being based on the Bitcoin codebase are able to out-perform the marketcap of Monero in a few days or weeks? This shouldn't even be possible.
4 Darkcoin $ 34,537,954 $ 7.78 4,439,477 DRK
11 Bytecoin (BCN) $ 8,974,931 $ 0.000057 156,920,284,106 BCN
13 VeriCoin $ 7,597,613 $ 0.283679 26,782,417 VRC
15 XC $ 6,451,500 $ 1.17 5,515,507 XC
17 Monero $ 5,080,622 $ 2.72 1,867,647 XMR
It is more helpful to compare the marketcaps with the total # of coins, which puts for example XMR in the $50M range, far above BCN. Total number of coins to ever be minted? Why is that more helpful than the standard market cap calculation? |
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There's always this spectre of 'regulation' hanging over bitcoin. If the US, or Japan or another major country decided to regulate bitcoin, what would we expect to see exactly? How do you think they would approach it? What sort of impact would you think it would have on bitcoin, either positive or negative?
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Many people will be looking back wishing they bid higher in that auction.
There still lots of bitcoin for sale on the exchanges if they still want to buy some. It's out there if the want it. |
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Are theese cards good or bad for bitcoin? Are business like amazon avoiding accep bitcoin with this cards?
A lot of people change their bitcoins for gift cards when they need buy something. They can do it, but are they hurting bitcoin or helping it?
Well, Amazon for example still has incentive to accept bitcoin over giftcards. They get a much higher total amount of profit from a theoretical direct bitcoin purchase over a gift card or credit card purchase. |
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It seems pretty standard all over the world that banking regulations are coming out telling banks not to deal in bitcoin(yet anyway). I'm pretty ambivalent about the whole thing because while banks buying up bitcoins would be nice on the price, I couldn't care less about them offering their bitcoin "services" to me if they are going to be anything like what they currently offer for fiat.
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