Don't worry boys, the Bitcoin market will continue to stay down all this year, but will begin to rise again mid next year along with the whole U.S. stock market. Just like 2014 was, going into 2015. You see, it's all engineered and managed markets now. It's all fake and completely managed. They just need Average Joe to think it's real. The game: 2-3 years of raging bull, followed by 1-1.5 years of bear. This is exactly the way the U.S. stock market played out in 2011-2013. Then again in 2015-2017. In a long term melt-up, this is the new new. Get used to it.  Not likely. More likely: 1-3 years no crossing of $20k while essential infrastructure is being build. HODL will get new meaning. I would agree with you, but then again I never would have thought there would be a second bubble in 2013 either, so who the fuck knows. |
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spiff
long time no see
welcome!
Thanks jojo! I have been lurking of late, but didn't really feel the need to chime in. No clue where the price is gonna go either. |
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The really amazing part of the Petro is that for the first time an entire nation will learn crypto oriented currency. Boom or bust, this is likely to be a noteworthy turning point in financial history.
I think we can quite safely predict that the Petro will be a total bust, and if anything will be negative for some peoples view of cryptocurrencies. I doubt it will have a lot of impact in the larger scheme of things though. |
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Bob, when a short gets called, how can those kind of dollar amounts buy bitcoins at a specific market price (instead of considerable slippage)?
Or is it a forced market buy for $2,554,207 when the bitcoin price exceeded $6,607.5 (first example)? How would the shorter then guarantee it can pay back all the bitcoins lent?
(not a trader as you might have noticed)
They don't, they always get bought at market prices. That's why you have (a safety) margin as a buffer. Depending on the rules of your platform, you might have some funds left after getting margin called. EDIT: If volatility is larger than anticipated, and liquidity is low, there might be insufficient margin, so exchange platforms might have to freeze trading, cough up funds themselves, or socialize the losses to other (winning) traders. |
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that mayor
Last of the V8s
Elwar
Anon136
becoin
jbreher
jojo69
Gyrsur
samson
yefi
bitserve
DaRude
Searing
kromer
kurious
mymenace
jonoiv
fragout
xhomerx10
strawbs
Asrael999
gentlemand
Torque
holzer
HairyMaclairy
Hueristic
slowlyslowly
RayX12
JayJuanGee
criptix
LFC_Bitcoin
BTCMILLIONAIRE
bones261
RoomBot
BobLawblaw
gembitz
Raja_MBZ
Millionero
ivomm
33bitcoin
Aveatrex
Phil_S
Ludwig Von
Icygreen
josephpogi
micgoossens
goldkingcoiner
realr0ach
diesmaster
kirreev070
serveria.com
leetlezee
RivAngE
BTCHadzija
asiwajuadejumo Your list contains some of the more interesting persons on this forum imho... |
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It's ludicrous how many companies still rely on SMS as a security layer. It's almost as bad as when you're asked to provide your D.O.B. as a login credential, like that isn't a matter of public record. There are ridiculous security practices all over the place. Using regular signatures for official documents, or for showing you accepted a packet from a delivery guy (honestly, how is he going to know if you doodle down a wrong signature?), the use of credit cards in the US, etc. . |
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I can usually see the indicators of a jump. ie someone with a huge sell wall trying to push prices down before pumping them, high rated individuals on localbitcoins trying to buy very large amounts of bitcoins, etc.
I don't follow localbitcoins. Would you say that there are currently more of these people buying or not? And how can you check this out? |
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the JJG overcomer has appeared
the prophecy has been fulfilled
woe and pestilence is upon the land
I lolled hard  . |
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Your words captured my feeling exactly. |
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- On the next halving Bitcoins coin emission falls below fiat inflation
- The one after that Bitcoin replaces Gold as hedge as coin emission falls below Golds yearly mining rate
- After the third one the coins lost yearly will be greater than the newly mined coming to market.
On top of it there will be significant changes of energy price. It does not matter how cheap electric will be bitcoin is limited just hashrate rises. With very cheap power even now uneconomical gold mines will reopen. Just study and understand this.  You made a very common mistake. The bitcoin emission rate is already better than fiat if you look at historical rates of base money creation. Comparing new bitcoin creating with dollar price inflation is apples and oranges. So the reality is even rosier than you think. Other than that, nice data summary. |
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Italy panic over, normal selling will resume shortly.
If this is true though, it will show us something very interesting. I have been trying to figure out lately whether the market is viewing bitcoin as another tech stock or a flight to liquidity style asset. It would appear that it's both. It seems that bitcoin likes either extreme and dislikes a status quo future. I have come to a very similar conclusion. Bitcoin is this weird animal that is both a highly speculative asset and a safe haven. I would add that I don't think a status quo is that bad(absent shitty fundamental news), more years of surviving means more trust. Also, the tech gets developed further and the network and industry can grow. |
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I strongly agree with what I think is your more general point that A) commodity money is important B) cryptocurrency is not a replacement or substitute for it
Mind explaining why you think commodity money will stay important? Genuinely interested. |
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Anon136 doesn't seem like a fanatic, but the subject he wanted to discuss about didn't currently seem interesting. You do seem a little fanatical tho..
You know there are people out there who do not value electronics right?
And it's kind of ironic to hear from a bitcoin fanatic, that electronics isn't important to everyone I missed your earlier reply in which you said you were drunk, so I'll let the discussion be for now. |
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snip
No sure how any of that makes sense as a response to what I said.  This guy just starts talking next to the point so that he can keep believing whatever he wants to believe. Whether he himself is aware of this, I am not sure. He acts as if he wants a courteous rational discussion and claims the moral high ground, but in the same breath calls people that make calm remarks fanatics. Trolls gonna troll I guess. |
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And markj113 shows up to brag about the gold and lambos that he claims to own but can't prove it.  "When trolls on parade, buy the fucking dip." Lol, nice reply . |
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Strawman much?
First off, I originally specifically said "Gold's monetary utility is also easily replaceable.", already taking into account that gold has other utility than just the monetary one.
Secondly, I was talking about the concept of intrinsic value in general.
Intrinsic value is based on the important needs of society. Says who? Intrinsic means an inherent property of the object it's self. So for example a gold bars refraction index is an intrinsic property, it's elemental makeup is an intrinsic property. The atomic weight of it's atoms would remain the same even if there were no one around to observe it because that is an intrinsic property. But value? In order for it's value to be an intrinsic property it would need to have a consistent value even in the absence of people around to place a value upon it. 100% this. |
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Nice pieces, but aren't their historical value higher then the value of their gold content?
Yes but same principle applies to old gold sovereigns for example that are over a hundred years old but only worth bullion values. Do you even listen to yourself? Intrinsic value is based on the needs of society....
How do you call the needs of a society "intrinsic" to a piece of gold?
And then you call me confused...
I thought he made that clear - industrial uses. There are also cultural uses such as wedding rings and other jewellery, dentistry etc. Jezus people. I realize that gold has utility. I know that you can use it for jewellery, electronics etc. . I was talking talking about the bullshit concept of "intrinsic value", which is right out there with phlogiston. At this point I feel like I am highjacking the thread though, so I'll quit talking about it (for now ). |
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Intrinsic value is based on the important needs of society.
Do you even listen to yourself? Intrinsic value is based on the needs of society.... How do you call the needs of a society "intrinsic" to a piece of gold? And then you call me confused... |
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you guys should edit the images with width=100 if you are going to quote each other back and forth
You are right, sorry. Fixed. |
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