|
Watching mtgox fade a way will be even more painful to watch than the grind down into the 40s.
|
|
|
|
|
Bitcoin isn't a protocol, it's a prototype.
|
|
|
|
|
Somebody bought another 100 coins, that'll show us.
|
|
|
|
|
No comments on this epic 100 Bitcoin rally?
|
|
|
|
By the same token that your weak-minded friend was impressed that "a bitcoin" is "worth more than the dollar", we have idiots on CNBC saying things like "it's crazy that people are actually willing to pay $100 for just one of these bitcoin things". WTF!! Why can't people understand divisibility and percentages?
Don't be part of the problem!
Actually its more like why pay 100 Dollars for something that someone payed 1 Cent for three years ago? Or worse why pay someone 100 Dollars for something that they bought for 1 Cent three years ago? Of course that does only makes sense if you think there is someone who will pay you 10,000 Dollars in another three years. Don't you be part of the problem. You're right - my aunt was telling me how houses used to cost around £3000 where she lived. These days the same ones are worth around £500,000. I'll wait till houses go back down to £3000 before I buy again. Thanks for the tip. Are you seriously comparing inflation over decades resulting in 16 fold increase to the 3 years of Bitcoin evangelism resulting in a 1000 fold increase? Are you saying the principle isn't the same? Only if Scientology would have taken over the housing market. Who knows was your aunt by chance living in Hubbarts neighborhood? |
|
|
|
No more triple digits means that 90s is expensive, and therefore we have much further to go down. Reptilia, this point in time is August 2011, not November 2011.
perhaps we conditioned ourselves to think ahead a bit sooner? FYGM |
|
|
|
Protect yourself and hold as little fiat as you can safely get away with.
This ^^ If not Bitcoin then anything inflation proof will do as a way to store money, even things like collecting antiques We are in a deflationary phase now actually. You start buying when blood is running in the streets? I'll buy when I think I can sell for more than 2% profit within 24 hours. (With relative certainty) The problem is, under those conditions one frequently ends up selling high and buying higher. So? It still accumulates profit, that's better than the average market participant can say. Still inferior to the performance of buy and hold, even if you bought at $32. Each one of those gaps between selling high and buying higher represents a reduction of your holdings. The average market participant thinks they are smarter than the market as a whole, if not in confidence then by their actions. Presuming that their action represents the best course of action, while it seldom is. Sell high, buy higher is a really awful strategy. The way to mitigate risk beyond just buy and hold is really DCA. And that looks more like what our buy whale is doing... The support is there, I'm disappointed. |
|
|
|
...
Sure, but the point is that in bitcoin world big money doesn't automatically mean more money, because you can't print and loan bitcoins. That's pretty simple.
You don't think there were tycoons & beggars with gold standard? We had the silly thing in US 'til the seventies! As far as lending with Bitcoin, i can talk you through many interesting lending schemes where the total number of bitcoins in circulation is not the ceiling (hint: when you borrow a million dollars from a bank, do you take it home in a trunk?)  It was 1971 when Nixon separated gold from USD. Still under the weekly forex volume. |
|
|
|
Protect yourself and hold as little fiat as you can safely get away with.
This ^^ If not Bitcoin then anything inflation proof will do as a way to store money, even things like collecting antiques We are in a deflationary phase now actually. You start buying when blood is running in the streets? I'll buy when I think I can sell for more than 2% profit within 24 hours. (With relative certainty) The problem is, under those conditions one frequently ends up selling high and buying higher. So? It still accumulates profit, that's better than the average market participant can say. |
|
|
|
I can probably see bureaucratic system => institutional violence, but I still fail to see how bureaucratic system necessarily follows from an increase in urbanization.
That's how it works historically and empirically. |
|
|
|
If your libertarian romantic ever plays out I rather think we are facing the extinction of the human race.
Why would rejecting institutionalised violence cause the extinction of the human race? Are peaceful people incapable of functioning without being threatened from day to day? Institutional violence is just a result of urbanization, the entire population is urbanized, and dependent of the financial system to keep them from dying from starvation. IF you are serious start a farm. So you think urban population would starve if it wasn't for the current implementation of the financial sector and/or institutional violence? I'm afraid I don't follow your reasoning. I'm saying that institutional violence is caused by the urbanization. This is very easy to understand as institutional violence is merely an expression of the (violent tendencies of) individuals in the bureaucratic system which in turn is a result of the dramatic increase of urbanization. (Both the tendencies and the importance of the bureaucratic system itself) |
|
|
|
I fail to see the chicken connection.
So you are living in a vegan community? Do you grow Hemp or Lupines? Do I really have to explain how an economy works? You don't need to produce anything yourself. Furthermore, chickens are non-mandatory in a diet. I don't eat chicken often but prefer fish, beef and pork. Do you understand the causal relationship between urbanization and institutional violence? |
|
|
|
I fail to see the chicken connection.
So you are living in a vegan community? Do you grow Hemp or Lupines? |
|
|
|
If your libertarian romantic ever plays out I rather think we are facing the extinction of the human race.
Nah, just the part that should never have existed in the first place. So how many chickens do you own? None. So you essentially giving yourself up? Or did I miss something? |
|
|
|
If your libertarian romantic ever plays out I rather think we are facing the extinction of the human race.
Nah, just the part that should never have existed in the first place. So how many chickens do you own? |
|
|
|
If your libertarian romantic ever plays out I rather think we are facing the extinction of the human race.
Why would rejecting institutionalised violence cause the extinction of the human race? Are peaceful people incapable of functioning without being threatened from day to day? Institutional violence is just a result of urbanization, the entire population is urbanized, and dependent of the financial system to keep them from dying from starvation. IF you are serious start a farm. |
|
|
|
Protect yourself and hold as little fiat as you can safely get away with.
This ^^ If not Bitcoin then anything inflation proof will do as a way to store money, even things like collecting antiques We are in a deflationary phase now actually. You start buying when blood is running in the streets? I'll buy when I think I can sell for more than 2% profit within 24 hours. (With relative certainty) |
|
|
|
Protect yourself and hold as little fiat as you can safely get away with.
This ^^ If not Bitcoin then anything inflation proof will do as a way to store money, even things like collecting antiques We are in a deflationary phase now actually. |
|
|
|
|
If your libertarian romantic ever plays out I rather think we are facing the extinction of the human race.
|
|
|
|
if the price falls forever i will be the last one to get out  the ONLY thing that will ever cause me to sell my bitcoins ever is a substantial appreciation in price If price falls by 99% that still like 1% profit, amirite??? |
|
|
|
|
Show Posts
