To Fallling;
Get lost you nab, i asked to remove you from this forum, you keep talking BS over and over, GTFO of this forum you idiot.
You seem to be a bit nervous, in almost the same manner as so many ultra-uber-it-will-rise-at-any-moment bulls. Or why can't you bear a plain troll? Calm down and let him post. You like some Benzodiazepine? Im not nervous, getting frustrated like little kids like YOU and FALLLING by youre BS. Why do you tunnelvision me, im not a idiot who thinks to get rich within 1 year...i never said that, in fact i've no problem to stay at this price lvl for the comming year. Calm down? you dont even know this guy. And now you think you can attack me with that BS Benzodiazepine. I'm not suprised if youre 2e accound is Fallling. You are pretty upset about a stupid troll. Go get some fresh air dude. This shit is so not worth your time or energy. |
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I'm not sure a hard financial crash would even be possible anymore, now that the world's central banks know that they can just fire up QE and confiscate savings in the short term.
Sure it is. Loss of faith can always cause a massive crash. In a hyper-inflation scenario stocks may rise nominally but they'll definitely crash in real terms. Time will tell but it looks as if the rest of the world is set to pull the trigger and move away from the current dollar centric system..the glut of dollars is sure to flow. We're still the largest consumer economy. I'm not sure the rest of the world is willing to give up their biggest customer. They are certainly trying to lessen the impact of such a move for when it comes, but I don't think that time has come yet. The BRICS need a bit more time to strengthen their consumerism. Their middle classes are rapidly growing, but they are more sensible so it takes 2 middle class Chinese to consume as much as 1 middle class person from the US. But they have the numbers, so it is only a matter of time. |
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Companies that engineer their products to fail eventually fail themselves. Just take a look at the U.S. auto industry.
Anyway, this has nothing to do with bitcoin.
Correct, successful companies do not engineer their products to fail. Successful companies engineer their products and then test reliability. If it is reliable, they only lease it to you with a required service contract. If it is unreliable, they sell it to you outright so you have to buy a new one or pay them to fix it when it breaks. Or, in the case of warranties, they are based on mean time to failure. |
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Won't happen.
There isn't enough bitcoin around to let country buy oil at country level.
sure there is. after all they're infinitely dividable and can be worth anything. including a million/billion dollars a coin. so yeah theres defiantly enough bitcoins around for countries to use it for oil. will they do it? who knows Bitcoin is only divisible to 8 decimal places without a hard fork. Hard forks are very difficult to orchestrate, so although extending the number of decimal places is technical feasible, it will be difficult in practice and will never happen before it is agreed to be an absolute necessity. When bitcoin first rolled out it was 4 decimal places. Back in 2011 they decided that 8 were needed and it came out as part of a core update. Similar thing with the view on "dust" last year. Those sorts of updates are pretty minimal and don't require a big change. Changing the hashing algorithm or moving to PoS or something would be a big deal. So if more than 8 decimal places are required, I think it will happen without causing any issues. If required, yes. But if you try to do it before there is consensus that it is necessary you will end up with two blockchains each claiming to be Bitcoin. Such is the case any time you try to change the rules in a way that is incompatible with older versions of the software. The "dust" changes were merely parameter adjustments. Dust is still valid and is included by some miners, but most choose to filter it. So not really that similar. Also, you're full of shit because I was 0.5% of the hashpower in 2010 and at that time we had 8 decimal places. It might have been 4 in a very early version, but certainly not in 2011. |
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With 8 decimals you get trillions of "units" why would you need more ? 8 decimals is pretty enough i think
I don't know that we ever will, I was merely contesting the claim it was infinitely divisible. However, in the case of bitcoin being used as a global reserve currency (as was hinted at by denominating oil trade in BTC), 21,000,000 BTC * 100,000,000 / 7,000,000,000 = 300,000 satoshi's per person. Using our current unit of account, which has 2 decimals that's equivalent to $3000 per person. And that is neglecting all nonperson entities (businesses, governments, nonprofits), and the fact that we'll probably be at 8 billion people before we ever reach that point of adoption (if ever.... BIG if). |
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Every day we're getting closer to 600. As i said before i think a big crash is more likely than a big pump. Sadly enough.
If we don't go up soon i expect some big dumps. For most people there is no point waiting snymore for something that's not gonna happen, They will start selling. This expected rally up is taking too long. Damn do people lack patience these days. |
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I predicted that Brazil, Russia and China would become the world powers 15 years ago. Christianity has been spreading like wildfire in those countries. The BRICS notation are mostly marketing jargon to sell you over price securities. And I don't see Brazil, Russia and China becoming world power any time soon. Then you are asleep my friend, because with their growing economies and huge populations they are going to blow by the US and Europe very soon. Exactly. The US is 4% of the world's population and that figure is rapidly shrinking. China's middle class is now much larger than the entire US population. Meanwhile, our middle class is dwindling. |
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Won't happen.
There isn't enough bitcoin around to let country buy oil at country level.
sure there is. after all they're infinitely dividable and can be worth anything. including a million/billion dollars a coin. so yeah theres defiantly enough bitcoins around for countries to use it for oil. will they do it? who knows Bitcoin is only divisible to 8 decimal places without a hard fork. Hard forks are very difficult to orchestrate, so although extending the number of decimal places is technical feasible, it will be difficult in practice and will never happen before it is agreed to be an absolute necessity. |
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This is one of the catalysts I am looking for to spark a Bitcoin rally like no other:
The next time the world has a financial crisis, Bitcoin will soar to the heavens as central banks around the world print to oblivion.
Central banks are all tapped out, they cant do any more printing on that kind of scale. The only 'bank' with a clean balance sheet is the IMF. Next time reality bends the financial class over and kicks it in the nuts, the IMF is the only institution that can step in by printing SDR's. When this happens you're going to see a revaluation of gold, as gold will be included in the new basket of currencies And to be in an asset that sits outside the regular financial system at that time, decentralised and immune (to an extent), is the place to be and why everyone is so confident in btc. In that case I'd say it will be Gold UP, Bitcoin WAY UP. I doubt they'll get an sdr going. Especially given yesterday's announcement: http://abcnews.go.com/Business/wireStory/emerging-nations-plan-world-bank-imf-24555957China has been rebuffed for years from imf inclusion. Exactly, the BRICS each just threw in $20 billion in spare cash to start their own international bank. Next time the US or Europe fucks up we will be begging them for loans. Soon enough, they will own all our debt and will start to be the ones to make the rules. |
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Is it possible for another bubble to occur? Once a product has gone relatively mainstream in that a majority of people are aware of it, bubbles generally do not occur because there is a lack of further speculation.
I highly encourage you to do a survey in your local community. Unless you happen to live in silicon valley, chances are more than 90% of people's eyes will glaze over if you ask them about bitcoin. We are very far from the majority of people being aware of it. |
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Interesting discussion with Vitalik and some of the nxt guys happening today after he posted his Stake article today. Looks like he admits nxt does things a little better then he thought:https://nxtforum.org/general-discussion/bounty-for-successful-nothing-at-stake-attack/msg60166/#msg60166
A few of his ideas from the article are also currently being implemented into nxt in a feature they call economic clustering. Seems to me like nxt is spearheading some incredible advancements and are not shy to keep adding new powerful features to the protocol quickly. At its very worst it will be a great case study when determining how to improve bitcoins mining mechanism.
Not every time someone mentions another coin is to pump the shit out of it, some people actually have the belief that good advancements can come from experimenting with this technology in a number of ways. Just like those who were quick to dismiss bitcoin are paying for it, you'd be wise to keep your eyes open to new ideas.
bravo sir. I'm quoting this so it can really sink in. nxt seems to be a great platform for experimentation. A research oriented cousin is exactly what Bitcoin needs. What will be interesting to watch is how Bitcoin handles it if nxt actually comes up with something interesting and can prove it works how they think it should. |
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I bought at 1200 and followed all the HODL advices and now my stash is worth 50% less.
I'M A SUCESSFUL HODLER YAY
I bought at 5 and followed all the HODL advices and now my stash is worth 12,600% more. I'M A SUCCESSFUL HODLER YAY  This is how you do it. Don't be a daytarder. |
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Again, I'm not saying they aren't true believers, but if they aren't, and if it's just the "greater fool" theory, this distribution could definitely impact BTC pricing. As long as they think there are greater fools to buy in at higher prices (obviously true right now), you continue to maximize value. But frankly, we've got people on this board who seem to think their 1 BTC is going to make them a dollar millionaire someday. If you are one of the 1000 who have an average of SIX THOUSAND BTC right now, would you settle for $1.4MM?
It would impact BTC pricing, in the short term, once. Then the 1000 sellers would have sold their btc to 10,000 buyers and the distribution would improve. Distribution would likely improve, yes. I think we could probably guess endlessly about the long term effects of the price. Some would argue, persuasively, even, that the effect on price could be substantial and lengthy. This isn't exactly like stocks that have underlying inherent assets and cash flows of which one is buying shares. I think it would be hard to find many examples of stocks with no underlying fundamental changes that had sell orders on 50% of the float, so when it happens, it's due to fundamentals and the impact is likely to be long-lasting. This might be different. But in the situation you described, there was not a change in fundamentals, only an overvaluation in the estimation of a few large holders that was corrected for through selling. |
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Again, I'm not saying they aren't true believers, but if they aren't, and if it's just the "greater fool" theory, this distribution could definitely impact BTC pricing. As long as they think there are greater fools to buy in at higher prices (obviously true right now), you continue to maximize value. But frankly, we've got people on this board who seem to think their 1 BTC is going to make them a dollar millionaire someday. If you are one of the 1000 who have an average of SIX THOUSAND BTC right now, would you settle for $1.4MM?
It would impact BTC pricing, in the short term, once. Then the 1000 sellers would have sold their btc to 10,000 buyers and the distribution would improve. |
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I can't see anything so far. Can someone please give some good reasons (explanation or charts, no trolls pls) that can enlighten me? I have the feeling we'll see months passing and nothing notable will happen, only 100 USD ups or downs.
Good god, can someone please just ban this troll already? He is annoying as fk. I have him on ignore, but it's just not enough. His blatant stupidity has somehow seeped through the Ignore functionality on this sub. It's pretty blatantly stupid to see a new thread by someone you have on ignore and think is annoying, and then go click on the thread so you can complain. Go get some sun, it will put you in a better mood than hunching over your computer all day, trust me. |
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Fungibility...
Physical cash is fungible, and yet an 1804 US silver dollar once sold at auction for $4.14 million. Alas, I'm not sure the analogy can be made to work. Unless it were possible for an address to "refuse" to be the recipient of a transaction, which to my knowledge it cannot. Transaction inputs are based on transaction outputs, not addresses. As long as you select the correct transaction you can ensure the coins are descended from the historically interesting transaction. However, you can't take a part of a transaction output as input, you have to use the whole thing. So you would need to first send your numismatic coin to its address before you spent any of the rest. |
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Isn't nuclear war probability too big? Impact would also depend on its scale.
And if you include nuclear war shouldn't you also include Harrington events, meteor impacts, plague, famine, etc? I think you mean Carrington events: http://en.m.wikipedia.org/wiki/Solar_storm_of_1859 |
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We started going up 2 weeks ago and we're just about 50% higher. It's good, it's nice but look at the charts. February 1st was way higher. So we're lower than where we were at 2014's start. Of course money can be made on price swings or bubbles but looking at the bigger picture, seems nothing fundamental changed. Not that many new people buy bitcoin.
If we were to repeat last bubble, a 9x increase in 2-months timeframe, we should be at 4500 this summer. But I think chances for this to happen are very slim. Too much new money have to be poured into and not that many newcomers into bitcoin yet.
I am very curious where the price will be on July 2nd. I'll have to do a big decision then and a powerful Bitcoin might help me. A good price will be 1000 zone. Based only on last bubble, where price double first time in about 1mo, we could be there by my due date. But this might be also the end of a mini-bubble, deflating from 680s to 400s again.
$ 400? The energetic cost to mine 1 BTC on the date you mention exceed more than $ 400 for those which do not think anyone in their right mind would sell BTC below $ 600 if you want to cover at least the cost to manufacture. All that means is if price gets that low some inefficient miners will shut down hardware. |
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How bullish divergence turns into bearish  This is the first post I had not seen in this thread. I've been away for a while, busy with school. But it is on it's way through these levels again, just in the opposite direction. |
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