Good morning Bitcoinland.

Pretty much going sideways after a little dip and bounceback... currently $2877USD (Bitcoinaverage).

Right where we were yesterday. Ho hum.


Lots and lots of Guinness Extra Stout (the 5% alc/vol Ontario stuff, not the 4.2% Irish kind) with numerous shots of Jagermeister, tequila and Jamieson's in between. All on an empty stomach.

I'm getting too old for this kinda shit. Gotta remember to eat first and lay off the hard stuff, or at least stick to only one kind.

Feeling much better today. Just had a few Guinness and a couple shots of applejack after dinner last night.

A late good morning Bitcoinland. A little hung over.

Starting to inch back up again... currently $2880USD (Bitcoinaverage).

I see we were back over $2900 for a bit earlier.. Maybe we'll see $3000 before the weekend's over.

Go Bitcoin go.

Indeed. And logarithmic is the inverse of exponential, not parabolic. My bad for comparing parabolic growth to a log chart.

The chart I posted of Bitstamp's prices since 2015 is indeed exponential, just like compound interest.

Indeed. When people ask me about Bitcoin it's the first place I send them.

A few years ago I sent people Christmas cards with $5 worth of Bitcoin (smallest amount you could buy at an ATM) enclosed in a paper wallet.

I included three internet links... Satoshi's white paper, the Bitcoin 101 Blackboard Series, and BitcoinTalk.

It may be old now but it still remains valid.

I've only been into Bitcoin since it had just finally broken out of single digits for good but if you look back to when it was worth less than a penny per coin you'll see that its growth has indeed been and still is parabolic. To really see it, look at the log chart for the last 7 years.

Sure, there was that anomaly back in 2014-5  when it dipped below the ascending line. Look at the log chart before or after that anomaly and you'll see they're both rising at a parabolic rate. That'd why I chose a chart starting in summer of 2015.

If you'd bought in 2012 or early 2013, your $50k investment would have already made you a multi-millionaire.

I used a linear chart specifically because it does show the exponential growth. If I'd used a log chart it would show closer to a straight line.

When people talk about the price rise being parabolic, they are comparing it to linear. Using a log chart assumes parabolic growth.

Why not watch the whole thing:

https://www.youtube.com/watch?v=qHUPPYzzZrI&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&index=16

Why do people always have to have a reason for daily price fluctuations?

There's a reason for the continuing long-term price rise... supply and demand. Supply of new coins is limited and decreases with every halving. Demand grows continually with ongoing global adoption. The price is bound to keep going up long-term.

Some large price dips can be attributed to events or news. Usually they are triggered by things like problems at individual exchanges such as hacks or fiat transfer problems, and exacerbated by panic selling by noobs and other weak hands.

Other large dips are simply natural corrections and profit-taking after a particularly steep rally. These are also often accompanied by panic selling.

In most cases the price recovers fairly quickly from these dips. The best thing to do is use these dips as buying opportunities.

A daily price  fluctuation of $100-$200 is just normal business-as-usual and needs no news or other reason to justify it.

Good morning Bitcoinland.

I see we're still consolidating after the ATH and correction earlier this week... currently $2848USD (Bitcoinaverage).

Seems to be forming a nice ascending triangle. Hopefully it'll break upwards to a series of new ATHs.

Go Bitcoin go.

Good morning Bitcoinland.

Still consolidating after yesterday's excitement... currently $2814USD (Bitcoinaverage).

We had new ATHs on most exchanges, a large correction ($244 at Stamp) and still ended up with a nice green daily candle.

A little sideways wouldn't hurt.

Edit: Someone came to the door while I was typing and it dropped $35. Ouch.

Jolly good. Great to see new ATHs in all currencies despite a serious mid-day correction.

Onward and upward.

Some "reality" TV actor, just like Trump.

 

Aren't they all infallible? What do we mere mortals know?

Well well well. I see that while I was out the correction/profit-taking reached $244, all the way down to $689 (Stamp)... where we were 16 hours earlier.  

Now that's what I call an excellent healthy correction. We're already more than halfway back up and heading towards another tall green daily candle.

As I stated earlier, it's solid proof that this rally is just good healthy growth and not some kind of bubble waiting to pop. I can't believe how many people were calling this a crash.

Hopefully we'll see $3000 soon. Go Bitcoin go.


ftfy

The 2 bolded parts are mutually exclusive aren't they?

Vitalik Buterin's little centralized toy is hardly part of the real NWO.

It may be a source of fiat profits for those who got in early but it doesn't further the cause.

I find it ironic that Ethereum was actually spawned largely in Toronto's "Decentral" with people like Anthony Di Iorio contributing to its creation.

I first learned about it a few days before its release when Vitalik spoke at a meetup at Decentral's old location. I was fascinated by the smart contracts and innovative multiple POW concepts but chose not to get in because something about it didn't sit right with me.

I could have made a killing by buying in at that time I suppose, but I've done OK with my Bitcoins and I feel as if I'm doing something good for the world.

You'd be surprised.

Not everybody is a clueless speculative trader seeking fiat currency profits.

Some people have actually taken the time to learn how Bitcoin works and care about the real "new world order" of decentralization, peer-to-peer networking and global communities of individuals.

Oh look, a pleasant little $130 correction... all the way down to where we were 9 hours ago.

It's nice to see proof we're not in a bubble.  


A guessing game?

OK, I'll say $3200 down to $2600, maybe $2400 rock bottom.

Then again it might not go really far until we break $4000 and it crashes down to $3200.


I'd rather hold more. If not hundreds, then at least dozens.

Wish I'd found out about Bitcoin a half a year earlier when it was in single digits. I would have bought hundreds at a time instead of dozens and already be rich.

I still can't bitch though. I may not be rich yet but at least I'm comfortable.

An early good morning Bitcoinland, and a splendid morning it is indeed.

The uptrend is continuing nicely... currently $2924USD/$3940CAD (Bitcoinaverage).

Hopefully we'll see $3000/$4000 soon.

Since this rally has people thinking about NLC, here's a little memento:




 


Anyone who took the time to really think about it.