With shorts on okcoin at a high I think it might be wise to assume a neutral position here. sentiment is a significant part of ew.
Queue the image where everyone switches from "SELL! SELL!" to "BUY! BUY!". |
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It didn't matter if you paid $5 or $10, just as it won't matter if you paid $300 or $700 when the price bubbles again.
If you were going to buy 1000 Bitcoin, then a $5 price fluctuation wouldn't matter much. But if you were going to buy $10,000 worth of Bitcoin, then that $5 price fluctuation means the difference between having 1000 Bitcoin and 2000 Bitcoin. I think you'd agree that it does matter. |
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What would be the purpose of dividing adoption-squared by number of coins? I don't see how that is useful.
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What is your target range for this trade?
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Sounds like you'd rather use market cap than coin price. I use coin price because that is what everyone in this subforum is interested in.
If I have time I will update with most recent data tonight.
No, this is not what I mean. I mean coin price, but it has to take account of the creation of new coins. Read again: The formula will be:
Price = C x (Unique number of addresses used)^2 / (Number of bitcoins created) x C
where C is the appropriate constant (different from the one you used but approximatively equal to the one you use multiplied by 13.000.000). C/C = 1. So you are just proposing dividing by number of coins. Why? Price is already per coin. As number of coins increases, it is reflected in the price. |
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Was that it? We're already going up again? We're really going to make a double bottom around 370/2260?
Nope, spoke too soon. Just broke that on Huobi. |
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Was that it? We're already going up again? We're really going to make a double bottom around 370/2260?
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Sounds like you'd rather use market cap than coin price. I use coin price because that is what everyone in this subforum is interested in.
If I have time I will update with most recent data tonight.
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Why would it matter? Do you always expect services for free?
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This is not a poll on who you think will do well in the next U.S. election. It is a poll on which party is better for Bitcoin in the next election. Let's keep the trolling out please.
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Cryptocurrencies are meant to allow payments that governments (and banks, which can be conflated with them) cannot see, block, divert, or undo.
In your mind maybe. You don't get to speak for any cryptocurrency developers. We can speak for ourselves thanks. That is not explicit in Satoshi's paper, but seems to have been a basic assumption by most of the crypto fans, especially the most ardent ones. (Reducing credit card fees is not something that would get people that excited about, is it?).
Most cryptocoins seem to be designed and supported with that goal in mind. Some bitcoiners are even adopting other coins because they do not see bitcoin as sufficiently robust in that regard. Few coins, if any (Ripple perhaps? I don't know about it) are designed to allow the same level of control that governments now have on bank transfers.
Bitcoiners are a broad church and you, especially you, don't get to speak for all of us. Stop trying to paint Bitcoin as a political tool invented by political extremists. YOU are the bloody extremist here, prof. Bitcoin is a technology. Like Bittorrent. Like the Internet. Like electricity. Like guns. Like fire. Some people use it to make things; others to break and/or take things. Some people just sit at the sidelines hurling abuse and shouting "heresy" right up to the point where they're drowned out by the sound of change inexorably passing them by. You're not a skeptic; you're an intellectually dishonest, disingenuous shit-slinger with absolutely nothing worthwhile to contribute to this conversation. BTW, been meaning to tell you something... You rock.  |
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I am going to start using the term "bits" from now on when quoting prices. I agree with Gavin. Price is currently about $0.000387 per bit. Let's go for bit-dollar parity! |
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As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:
- boring grey in colour
- not a good conductor of electricity
- not particularly strong, but not ductile or easily malleable either
- not useful for any practical or ornamental purpose
and one special, magical property:
- can be transported over a communications channel
If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.
Maybe it could get an initial value circularly as you've suggested, by people foreseeing its potential usefulness for exchange. (I would definitely want some) Maybe collectors, any random reason could spark it.
I think the traditional qualifications for money were written with the assumption that there are so many competing objects in the world that are scarce, an object with the automatic bootstrap of intrinsic value will surely win out over those without intrinsic value. But if there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something.
(I'm using the word scarce here to only mean limited potential supply)
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Feel free to add support to my project request here for a Bitcoin Consumer Wallet with the previously discussed features. This should help enhance mass adoption. Complaints about the inability to reverse transactions would disappear completely if everyone were to use this. |
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This is designed to mimic the consumer protections offered by credit cards, without giving up the benefits of Bitcoin. This should improve mass adoption.
1) All transactions are sent to a multisig address shared with 3 parties: wallet owner (sender), escrow agent, and target of transaction
2) All transactions are subject to an approval period. If sender approves, or if approval period of 30 days times out, funds are released to target immediately.
3) If sender disputes a transaction within approval period, escrow agent gets involved and sends funds to correct location (sender or target). Escrow agent gets a small sum to resolve disputes, and nothing for non-disputes.
4) Selection and management of escrow agents should be decentralized.
5) App must support NFC to allow a user-friendly experience. Just get your phone near the register and payment is complete. You can review your transactions for approval/dispute any time in the next 30 days much like you do for credit cards.
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I used apple pay today, if only bitcoin were so simple.
We are getting there slowly though
Sarcasm detector malfunctioning...But yeah what was simple about it? I'm just hoping one day bitcoin apps are as easy as apple pay. I bought something from walgreens today by just putting my phone near the register, doesn't get any easier than that So you want someone to be able to steal your Bitcoins by getting near your phone? Cryptocurrency uses a push model for payments, not a pull model. Pull models only work when transactions are reversible. That said, there is no reason why credit cards can't exist denominated in Bitcoin instead of USD. There is also no reason why Apple Pay couldn't support Bitcoin as a currency in addition to USD as well. Bitcoin should be considered as cash, offering the same consumer protection as cash: none. Consumer protections will come when we have Bitcoin-denominated credit/debit cards. We don't need Visa/Mastercard for this. We just need a Bitcoin card that uses smart contracts to hold a transaction in escrow until approved by both parties, disputed, or timed out (auto approve after 30 days). On dispute, an escrow agent gets involved for a small fee and sends the money to the right place. This should all be built into what I will dub a "Bitcoin Consumer Card" or "Bitcoin Consumer App", the latter which could support NFC like Apple Pay. |
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"First Global Credit Customer Service Ltd., the UK based service division of the company, announced today that they have signed an agreement to work with London based financial industry expert DATAFORT to manage business continuity services for the company. First Global Credit, which allows people to use their Bitcoins as collateral to invest in mainstream stocks and stock markets, has done this as part of an ongoing plan to improve the level of service and security they provide their customers" http://www.prweb.com/releases/2014/10/prweb12260207.htmlol bitcoin as collateral? if we keep the private keys.. how are they suppose to get them? and please dont tell me just because we signed some shitty piece of paper. XD Either they keep them, or it's multi-sig where keys are needed from both parties to move the coins. |
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You are right. Let's discuss its future performance. Let me get my crystal ball.
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Carry trades are actually fairly common. You borrow currency that has a lower APR minus inflation, then change it to a currency that has a higher rate on investment minus its inflation. Just make sure you have enough USD to cover the monthly payments for the next 5 years and you should be fine.
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