What do you do if an unprecedentedly severe economic disruption means the goods you want to buy aren't available at any price? How can the Permanent Portfolio preserved your wealth?
That is what I mean by "all saving is speculation". Nothing can guarantee the future ability of the economy to produce the goods and services you will want to buy with deferred consumption.
Even in a severe economic disruption all goods are available for some price, likely high. The Permanent Portfolio will preserve your wealth in such scenario because it holds 25% physical gold. This gold will in such scenario also be valued high. That is how you will be able to buy the goods you desire even during a severe economic disruption. You did not answer my question: What if you are not able to earn a living due to illness, accident or old age? Nobody will give a shit about your shiny rock if the shit really hits the fan. Weapons (for hunting and defense), bullets, and food stores are the only sensible investments for such a time. |
|
|
|
|
History shows saving in dollars to be foolish since the creation of the federal reserve.
I'll keep dollar cost averaging into sound money, thanks.
|
|
|
|
I would like to make a few clarifications in regards to Bitcoin store. 1. $850K is the Quarterly target in order to stay in the best pricing tier. 2. If Bitcoinstore.com doesn't reach this goal, it will continue in businesses, but with slightly higher prices. 3. I'm aware that the site still needs a lot of polishing, specifically regarding the searching and filtering options. 4. The goal widget on the fron't page doesn't currently update automatically, but you can monitor our progress at http://blockchain.info/address/1JqjoFF8QZwidrTbfnihGHDeu16pbLia1q5. I previously negotiated with the distributor to let us start off with the best price tier for Q1 2013. Everything with the Developers has taken MUCH longer than planed. Time was running out, so I had to launch the site before it was truly ready in order to have any chance of meeting the sales target for this quarter. 6. I think if we can hit close to $300K, I will have a good chance of getting the distributor to allow us to continue in the best price tier since 98% of the sales will have been from March. 7. If you are a professional Magento developer and would like to help with Bitcoinstore.com (Search, Filters, data import, etc) Please contact me. (You will be paid in BTC) With everyone's help, Bitcoin is well on it's way to changing the world for the better! I won't be back until 3 is addressed. I tried to find two very basic things, got frustrated and gave up. You would have been $300 closer to your goal if I could have found what I was looking for. |
|
|
|
Everyone knows the bitcoin market is TINY! there are a vast amounts of people who's net worth is far grater then the whole bitcoin market, for these people investing in bitcoin makes very little sense... right now... because if they tried to enter and then exit the market, this would first pump up the price to unbelievable new heights, and then as they cash out the market would crash in a heart beat!
These are the people that will be buying 1000$ bitcoins 10 years from now. because by then the market will have grown enough to allow these people to enter and exit the market without insane volatility.
As long as bitcoin holds true to its promises ( limited supply, unhackable, imposable to centrally control ) then we can expect to have bigger and bigger fish come into the market!
When I first found bitcoin my wealth would have pumped the market price up 10x rather easily, and I didn't have very much wealth. To say that investing in bitcoin at that point made little sense is what makes little sense. Of course, exiting the market right after you enter it and before it sees the growth you anticipate does make little sense. Great clarification. The large players would just invest 0.00005% of their wealth. It will either be an insignificant loss or it will grow to match his other investment classes in value. |
|
|
|
I think we should forget about stability for next year. rising so high will not lead price to stability.
All we got in bitcoin world so far are wishful thinkers... In bitcoins world there is a "securing your funds from states" discourse that i think has become a mantra which creates a false veil of "fairness", "stability", "growth", and so on. This veil is just that, a veil... a bitcoin world where there is no law and no basic rules there is all but stability and security ( im not infering that states do provide stability and security though... i dont believe that is true eithe). What i mean is that when people begin to repeat stuff at infinitum it becomes a doctrine that begins to fade out critical thinking, and in bitcoin world, that mentality is fucked up. I believe bitcoin is a great tool... but the masses are taking it to a doctrine-like state of culture that im begining to dislike. Heuristics are a usual part of the learning process. These oversimplifications will fall away with time as people begin to understand the basics. Have patience. |
|
|
|
$50
Rocket is taking off  Inau's secret rocket =A classic.  When the term was first used, a rocket happened from $3.2 to $4.5... I remember it very well. Things have changed, eh?  32-45 is not so different... |
|
|
|
Raise the hard block size limit, and you have doubled the total amount of cion from 21M to 42M. And once this happened, no one can guarantee that it will never double again
are you retarded? He means there will be a fork, so double the coins. I don't know why he thinks both chains will survive... What will stop the old chain if people still believe in a 1 MB limit? Nothing. I fully support people using the chain they feel is superior. I simply think that in this example, the superior chain will be the more usable chain. Should a fork occur, if there is doubt as to which chain is superior, it will be settled in the market. I don't think both will survive. Sure, only will survive under the "Bitcoin" banner, but even those who support the new chain have an interest in the old chain since their prefork coins can be spent one time on each chain. As I said, the market will decide. I would sell all my coins on one chain in order to purchase more on the other chain. If this happens in an overwhelming fashion, one chain will crash into oblivion. If both have enough supporters, it will reach an equilibrium and both will survive. What I'm speculating is that in the case of changing a small detail in order to make the coin more usable, the more usable chain will be the only survivor. I'm just making a guess that is different from johnyj since he seems to think there will be double the usable coins resulting in a halving of the exchange rate. There will be double the usable coins. Half will be exactly as usable as before, and half will be, in your opinion, "more usable" because the blockchain allows more transactions per time period. I don't see anywhere where johnyj mentioned the exchange rate. You seem to have jumped to that conclusion on your own. |
|
|
|
Yet another person complaining about gox being made of cardboard; yet still using gox
You may not know it, but Gox unfortunately is the only service around here that didn't run with client's money in the last three years, and that matters more than poor service. However, only up to some limit This +1 plus, even more, there is simply no alternative to Mt.Gox, when you combine the high volume, the relatively easy availability from any point of the world, the ubiquitous API used by most other services, and the USD/BTC rate, which, due to this dominance, is commonly used as just "the" Bitcoin rate. And yes, this is a very dangerous situation for the XBT economy as a whole. All of those advantages, besides the API, are caused by the volume. If that volume were to move, the advantages would follow, but it is a chicken and egg problem. Like I've said before, we will likely have to see MtGox broken before we can have 10 replacements pop up and really allow bitcoin to grow. Many of these future leaders are already with us, but are waiting for the opportunity. Right now, MtGox and it's shitty reliability are the biggest thing holding back bitcoin. Edit: And many other exchanges offer solid APIs. |
|
|
|
Vote with your feet.
Keep saying it. I've been at it for months yet people continue to bitch and moan instead of using a different exchange. |
|
|
|
Paypal's peak transaction processing is about 100 transactions per second. Assuming that their average transaction size is still $57 (the 2005 number), that's $5700 per second, or $20.5 million per hour. To process the same amount of exchanged value as Paypal processes today, 1BTC would have to equal $2 today, or $1 once all 21M are minted.
Visa's transaction volume in 2011 was $6 trillion, their average TPS is 2500, and their peak TPS is 10K. So at peak they process $2.74 billion per hour. To represent the same amount of exchanged value as the Visa network represents today, 1BTC would have to equal $260.93 today, or $130.46 once all 21M are minted.
Of course, these assume that every bitcoin in existence is being constantly exchanged - that there are no cold wallets or savings accounts. Any BTC held as store of value will reduce the effective BTC in circulation and drive up the minimum necessary price further.
Are you really extrapolating peak volume measured in seconds to longer time scales? That doesn't seem like a valid methodology. Also, good job leaving out how you jumped from $X million per hour to $Y/1BTC. |
|
|
|
Raise the hard block size limit, and you have doubled the total amount of cion from 21M to 42M. And once this happened, no one can guarantee that it will never double again
are you retarded? He means there will be a fork, so double the coins. I don't know why he thinks both chains will survive... What will stop the old chain if people still believe in a 1 MB limit? Nothing. I fully support people using the chain they feel is superior. I simply think that in this example, the superior chain will be the more usable chain. Should a fork occur, if there is doubt as to which chain is superior, it will be settled in the market. I don't think both will survive. Sure, only will survive under the "Bitcoin" banner, but even those who support the new chain have an interest in the old chain since their prefork coins can be spent one time on each chain. |
|
|
|
Why smile?
The OP said don't bother with speculating, just buy low and sell high. In other words, don't bother speculating, just speculate. No, he said buy low and sell when you need fiat. |
|
|
|
Raise the hard block size limit, and you have doubled the total amount of cion from 21M to 42M. And once this happened, no one can guarantee that it will never double again
are you retarded? He means there will be a fork, so double the coins. I don't know why he thinks both chains will survive... What will stop the old chain if people still believe in a 1 MB limit? |
|
|
|
they really should up the limit to 1GB and be done with it...  Right, 1GB every 10 minutes is totally fine  |
|
|
|
Find two differences   1. Time scale 2. Prior behavior |
|
|
|
I really really dislike this image.
For one thing, it acts as though "hoarding" is the only thing that will drive up the price, which says bad stuff about BTC as a currency. If we have a functioning, growing economy, what will drive up the price will be that there aren't enough BTC in circulation to keep up with the Bitcoin economy's value velocity. If "hoarding" is the primary price driver, we have something that looks suspiciously similar to a Keynesian deflationary spiral.
But on a more fundamental level, the whole chart acts like the investment upside is the big argument for BTC, which is awful for the Bitcoin community because it attracts HYIP idiots and con-men, while raising all the red flags that would keep serious investors away.
I'm pretty sure Keynes was high when he came up with the deflationary spiral. What if like, everybody didn't spend their money, man. It would become more and more valuable and nobody would want to spend it. People will still buy what they need. They will just buy less of what the don't need. How is making resource usage more efficient going to cause problems? Inflationary money makes people waste resources. However, I do agree this graphic is too focused on potential gains, and not enough on the advantages of bitcoin that might translate to it being so valuable if it stands the test of time. |
|
|
|
The hype was there but the infrastructure wasn't. Let's hope this doesn't lead to an even greater crash when people realize mtgox is made of cardboard.
There are many more options this time around. When gox fractures it will be time to buy hard. It will be like blowing up a starfish pheonix. There will of course be an incubation period, but when those eggs hatch, watch out. |
|
|
|
Why are people selling when they should be buying?
why did you bring this thread back from the dead? Seriously. It's called a history lesson. There are many new users around with no hindsight. You can't have good foresight without hindsight. |
|
|
|
Dear friends,
This post is to let you know that the the bubble is about to burst, luckly the price will settle down about 15-20usd/btc after the plunge. Don't fool yourselves, the price of something cannot go up forever. I don't know how further is the bubble going to go, but I'm not going to find out.
Since there is no way to short bitcoins, you'll wake up in a no-bid market soon and suffer an horrendous gap.
I've cashed out almost 95% of my bitcoins. Now...it should go down to 20 again :-)
Are you in fiat? What is your exit strategy? +1. Why would you hold dollars at a time like this? |
|
|
|
Exact hit  Nice, good job Does this mean we have a breakout of your channel? |
|
|
|
|
Show Posts
