yeah. click the graph you want the data from the page you linked. on the new page with the large chart, use your browser menu and view the source for the webpage. the raw data will stick out like a sore thumb. ---- if you're using chrome as your browser, maybe with other browsers, you can also right click the plotted line, and select inspect element. it will show you a tag named "path"... the data is encapsulated by that tag. Great. Thank you! it is presented in an unfortunate format but MatLab can fix that. Now I can do all sorts of calculations!  |
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The last couple of days, litecoins have exploded in value from less than a dollar to almost 4$ today! Will this continue and which crypto currency, if any, is next to boom, do you think? In my opinion, a currency is like a network and its value is determined by how many people that use it or how many people speculators expect will be using this currency in the future. And here, there are other factors than only network size or hashes per second at play. The technology is also important and I think that one of the positive things about litecoins is that transactions are confirmed faster than with bitcoins. Which techonological benefits do the different currencies have and which parameters will be the relevant for determining a winner or the winners in the long run? I would love to hear your thoughts on this!  |
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The block reward seems to be 25 BTC. As it should be. |
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I have submitted a pasport and a tax return which are both written in Danish. Can this be accepted?
Also, when I am on the Mt. Gox. site it tells me the following:
"Warning: You have only partially completed the AML process. Before we can review your submission, you must provide address information on the AML page here. "
But I have already uploaded both required documents and pressed the "Finish" button. Should I be worried?
Regards,
Sword Smith
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Dear forum
I was wondering if any decent work on the correlation between network difficulty and price of a BTC in $/BTC has been made. Maybe there is a graph showing this relationship somewhere?
Regards,
Sword Smith
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Great news, Wish I had bought more of them back at $2.50!! join the club |
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Bitcoin price is a google trends predictor.
+1 Excactly. The price seems to drive the interest more than the other way around although although both views are true to some degree. People like to make money. |
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congratulate me!  Very well. Congratulations! Now please congratulate me |
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Screenshot from Bitcoinity anybody??
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What you are presenting is a false dichotomy.
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Great. And I believe I am the one educating you. You failed to address my main argument: Great! Now you have accepted that the reason that I accept USD is that I can buy stuff with it. And here comes the central point: USD becomes more valuable since the goods and services that I can produce can be traded in USD!! The value that it gains this way is proportional to the worth of the goods that I can produce and am willing to trade in USD. USD gains value since the same amount of dollars can now be traded for more goods, i.e. Q has increased by me accepting USD. What applies to my sevices or good also applies for other people so Q is one of the determining factors of valueing a currency.
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So you see, now, that purchasing power is not the only determining factor in the value of a currency?
Fixed Broken Fixed. Value determines purchasing power. Not the other way around. This is self-evident if you examine what the terms mean: Value: How much people want A. Purchasing power: How much B you can get for A. Since you have to get B from someone, how much they want A will be the deciding factor in how much B they're willing to give up for it. You see only what you want to see. I told you that I would value the Rai stone according to, among other things, its purchasing power. This you chose to ignore. I honestly think that the arguments speak for themselves and that it is up to anybody to go through our discussion and make up their own mind. I only value US dollars for one reason. I can buy stuff with it. OK, that's why you want USD. To buy stuff. But you're missing the point. The only reason you can buy stuff with it is because people want it. And yes, part of why people want a currency is so that they can buy stuff with it. But that does not determine it's value. How much people want it is what determines it's value, and trying to base the value on purchasing power is like trying to get to space this way:  Great! Now you have accepted that the reason that I accept USD is that I can buy stuff with it. And here comes the central point: USD becomes more valuable since the goods and services that I can produce can be traded in USD!! The value that it gains this way is proportional to the worth of the goods that I can produce and am willing to trade in USD. USD gains value since the same amount of dollars can now be traded for more goods, i.e. Q has increased by me accepting USD. What applies to my sevices or good also applies for other people so Q is one of the determining factors of valueing a currency. A currency is a network and its value increases when more people adopt it. Are you trolling me? If so, it is working  And your silly picture is just that, silly, and not an argument. |
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So you see, now, that purchasing power is not the only determining factor in the value of a currency?
Fixed Broken Fixed. Value determines purchasing power. Not the other way around. This is self-evident if you examine what the terms mean: Value: How much people want A. Purchasing power: How much B you can get for A. Since you have to get B from someone, how much they want A will be the deciding factor in how much B they're willing to give up for it. You see only what you want to see. I told you that I would value the Rai stone according to, among other things, its purchasing power. This you chose to ignore. I honestly think that the arguments speak for themselves and that it is up to anybody to go through our discussion and make up their own mind. I only value US dollars for one reason. I can buy stuff with it. Either by travelling to the US and pay my living expenses there or by buying Danish kroner with the US dollars. There is no other reason for me than the fact that I can purchase stuff with USD to value them - purchasing power impacts value but, as I have admitted, other factors may influence my subjective value as well. |
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So you see, now, that purchasing power is not the only determining factor in the value of a currency?
Fixed |
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People value a currency for many other things than just what you can buy with it. As I said before, you've got it backwards. You can buy stuff with bitcoin because people value it. Not the other way around. People have to value a currency, and desire it, before you can buy things with it, or else, they wouldn't offer to sell things for it. It's common sense.
It is just as much common sense to state that people value it because they can buy stuff with it. It is, as mentioned above, not either or. It is both - a feedback process. No, it isn't. If I tried to buy your computer from you using Rai stones, you'd run me off, because you don't want Rai stones. This, despite the fact that on the island of Yap, one could conceivably buy a large estate and the livestock (and wife!) to go with it. You don't value Rai stones, so you won't sell me anything for one, no matter how much you could buy with one. I would love a Rai Stone!! Besides, my computer is from primo 2009. i would value a Rai stone according to the purchasing power that it could give me and how much I value that purchasing power on Yap. I might value it at a discount since it was on some remote island. And maybe I would also value it just because it would be cool to say that I owned one. |
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For instance, the person who only wants to get his 5 million dollars through border checkpoint without being hassled won't give a shit that you can buy tea with it. He just wants a few thousand coins to keep in a brainwallet to avoid having to explain why he's carrying 5 million dollars. That is an excellent point which does not completely make my calculations irrelevant, though. The reason that he can change back from BTC to fiat is that other people also value BTCs because they can buy stuff for it. People value a currency for many other things than just what you can buy with it. As I said before, you've got it backwards. You can buy stuff with bitcoin because people value it. Not the other way around. People have to value a currency, and desire it, before you can buy things with it, or else, they wouldn't offer to sell things for it. It's common sense.
It is just as much common sense to state that people value it because they can buy stuff with it. It is, as mentioned above, not wither or. It is both - a feedback process. |
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I've been stating all along that he was wrong because he based his calculations on a flawed premise: That bitcoin's value comes from what you can purchase from it. He's got it backwards. You can purchase things with bitcoin because people value it.
Neither statement is sufficient. It applies both ways: I value it because I can purchase things for it and you can purchase things for bitcoins because I value it. I value fiat currency because I can purchase things with it. The same goes for bitcoins and I expect to increase my purchasing power of any bitcoin holding I may have. A currency like Bitcoin is like a network and the network value rises when more people join that is, when you can trade more things with bitcoins. |
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Did you even read my OP, Myrkul?
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In other words, people think that it is worth buying, so they buy it.
Do I sense that we are reaching some kind of understanding? An expectation of a large future Q is what drives this investment strategy: http://youtu.be/NG1qooBzE2w |
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