Gentlemen! As tempting as it may be, I must remind you:  That is all. You may now return to bickering. |
|
|
|
|
ITT: Bitcoin trolls everyone.
|
|
|
|
440  |
|
|
|
Manipulative micropooping by miniature dwarf bear whale in progress  |
|
|
|
...
So the supply of bitcoin is increasing around 14% a year at the moment? If during that time bitcoin adoption grows by 14% the effect should cancel out.
... It depends on what you mean by "adoption grows by 14%. If 14% more people learn about Bitcoin this year, and each one bought just one Satoshi, that doesn't do much. And simply spending 14% more $ doesn't do much either--BTC price has quadrupled since a year ago, so what's needed is (14 x 4)= 56% more fiat. Oversimplified, but you get the drift. What I meant is that if the bitcoin economy as a whole grows by 14%, not user adoption counted in individuals. The point is that as long as we have real growth of over 14% per year you can neglect the additional coins from miners and price comes down to speculation and usefulness and of course more scarcity if we do grow over 14% ... I think we're saying the same thing, I simply reduced "real growth" (which is difficult to define) to a simple statement: If the price of bitcoin has doubled over a year, the influx of fiat needs to increase by 28% to negate the 14%, or: Influx_of_fiat today = Influx_of_fiat one_year_ago * (Bitcoin_price today / Bitcoin_price one_year_ago) * 0.14 (or something--coffee's not kicked in yet) |
|
|
|
Dear Investors! Mr. ABitInterested, the managing director of the stealth pornographic website XXXProfit, has been unexpectedly unable to connect to the internet since Sep 12. Let me assure you there is no cause for alarm. Trusted people in constant contact with Mr. AbitInterested via encrypted secure channels would like to [again] reassure you that things are going exactly as expected. On an unrelated note, I have the Condolences Gifs I promised you if things "go wrong" (IMPOSSIBLE!). Unfortunately, due to difficulties beyond my control which I'm currently not at liberty to discuss, the distribution has been delayed. It will happen, though, so don't fret. In the mean time, enjoy these colorful balloons, gratis!  Anonymously Yours, D00d from the Intertubes. As always, ~Happy investing! |
|
|
|
...
So the supply of bitcoin is increasing around 14% a year at the moment? If during that time bitcoin adoption grows by 14% the effect should cancel out.
... It depends on what you mean by "adoption grows by 14%. If 14% more people learn about Bitcoin this year, and each one bought just one Satoshi, that doesn't do much. And simply spending 14% more $ doesn't do much either--BTC price has quadrupled since a year ago, so what's needed is (14 x 4)= 56% more fiat. Oversimplified, but you get the drift. |
|
|
|
...
Do you realise that the Bitcoins mined daily 2 or 3 years ago (and same last year) were worth (in $) a lot less than what they are worth today?
If the BTCs mined every day are worth $5 each instead of $1200 or $400 A LOT LESS of $ worth of buy support is needed to sustain or increase the exchange rate.
... Bingo. |
|
|
|
Lol @  . Lrn 2 unit of account, ur paying in BTC, not $$ |
|
|
|
It has nothing to do with the newly mined coins. Really annoying hearing people spout that nonsense.
Like, totally! I mean, how on earth could an increase of the monetary base by about 14% this year lead to a lower evaluation per unit if insufficient speculative or usage-driven capital enters the market to counter that inflation. What a preposterous throught. FUD!  |
|
|
|
Gentlemen, make it do something!  |
|
|
|
Lol, listen to yourself. Roadstress tries to discredit me by saying I sound like some d00d he doesn't like, and you complain about MY mudslinging and MY ill-reasoned arguments?  |
|
|
|
...
I know that you are not scammer Josh Zerlan from BFL, but you sound very much like him...
Your point? The local tinfoilhatters have insisted I'm every bogeyman under the sun, from Mircea Popescu to Eduardo De Castro. |
|
|
|
^Read more than the last post FTW!
I believe that the next one might carry us north of $10,000. The longer time we spend here, the more explosive it gets. The supermove from $2 to $266 (133x price appreciation) took 17 months. Extrapolate that with the starting point of $340 in 2014-4-11.
The bottom called is $340 from 4/11/14. Please read the entire OP before saying he's wrong. He may become wrong a few days from now, but as of this very moment we have not broke the bottom that he called. Lol, OK. He asks you to extrapolate from 4/11/14. At no point does he call that date the bottom he's calling. No more so than he explicitly calls $2 [from the same quote] the bottom. Perhaps he meant $2? As others have mentioned, rpietila asks you to think like this: pick two points on the chart that I chose, and extrapolate from there. That makes as much sense as me saying "Bitcoin exchange rate went down from $1153 to $339 in just a few months. If we extrapolate from that, with the starting point of $400..." So yeah  |
|
|
|
... But keeping my eyes open for a bullish move.
 |
|
|
|
I am thinking i might liquidate some of my share portfolio and buy another 100 coins ... Someone talk me out of it!
Why? As a Bitcoiner, I applaud you. The more you buy, the more my coin's worth  |
|
|
|
... The market price appears to be have been dictated much more by speculative demand than fundamentals for a long time now... For a currency unbacked by a state or a closed economy, talking about "fundamentals" is horseshit. So we don't get into an argument on semantics here: I was trying to make a simplification to the effect that there is some amount of Bitcoin usage apart from speculation. I think that's what people mostly refer to when talking about fundamentals - developments that affect non-speculative use. The point is, we don't know what the price of BTC would be in a philosophical la-la land where price is driven solely by non-speculative uses, so we can't argue that an increase in such uses must lead to a proportional increase in BTC price. You're right, it's just that I find it hard to separate "speculative" from "intrinsic" (in the economics sense of the word) value, when it comes to money. |
|
|
|
today is a good day to buy
 rhymes |
|
|
|
|
Show Posts
