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It looks like EUR and USD are completely separate systems, so that if I deposit EUR I can't buy in the USD market, and if I sell in USD I can't withdraw to SEPA. Is that correct? If so it severely limits the usefulness.
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That's like saying the main reason why the Yankees won is because the Red Sox lost. It's true, but it doesn't explain anything.
It's only necessarily true if they played in the same game. There is an almost infinite amount of options which can make you wrong, so if you can't see a single one of them it must be because you don't want to. |
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I haven't made that assumption at all. I claim that without additional coins being mined and brought to market, supply would equal demand and price would be stable OR supply would be less than demand and prices would rise until supply did equal demand.
You're still wrong, though. There's nothing forcing those who buy coins to keep them or not sell unless the price is at least what they paid for them. The main reason why there is demand for bitcoins is that buyers expect the price to go up. When enough people stop expecting that they will try to sell. That's why the price is no longer $30, not because miners sell coins. |
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I didn't quit my day job. I can afford to wait. Time is on my side, but not on yours. You'r only goal was to extract profits from speculators like me. Now, your future looks bleak while I see many buying opportunities ahead for myself.
So you're basically really angry at the miners because they sold you coins for a much lower price than you think they are worth. Has anything ever made you happy? |
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Thanks very much for this information. My cards are currently at stock voltage, so I will first try lowering the voltage and see where this gets me. I'm hopeful that I can add a third 5850 and not be pulling much more than I am now (say keeping it under 450w or so).
Less than 450W is easy, but it depends on how much hashing rate you are willing to sacrifice. I have "silent mode" for a miner with 2x5850 and 1x5870 which uses 385W, but the hashing rate is only ~920 Mh/s. I only use it on really hot days or when I don't want fan noise, though. |
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I guess, distilled down to a single question, how do we assess the value of BTC as if it were completely decoupled from any other currency? Or can we even? No, we can't, because it's not. You can at best pretend it is for a while, but then you will create opportunities for arbitrage which others will exploit until you can no longer afford to. |
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They have disassociated us with the front page. The obvious question is why? Because they want to reduce the chance that the mainstream associates bitcoins with internet kooks like us, and particularly extremists like you. It will never really take off if they do. |
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You don't lose any money until you cash out. If you do not sell when the price drops, you have not lost any money.
That's only true if you consider all the money you've spent on Bitcoins as lost already. |
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Seems to work now. I had to restart the miner to make it stop falling back to the backup server all the time, before I did that I would get "long poll: IO error" regularly. The same thing has happened every time Multiclone has been flakey.
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You need a parsing function for the payout as well when when it's run as a multi user pool, and that's a lot more work.
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I think in the $12's its going to be a tough battle at that point to fall into the $11's. You will have many new speculators coming in around that point thinking that bitcoin will go back up. Eventually it will fall to a more stable rate, but may take some days.
If the buyers actually see this as a battle to keep the price as high as possible they're just stupid. Obviously the buyers should want the price to be as low as possible. If they're buying at 13, it should be because they think that's the lowest price they can get all the coins they want without being outbidden. Paying more than they have to will only make them run out of money faster, and then the price will crash. |
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Have you stopped beating your wife yet?
I'll take that as a vote for "totally new paradigm". |
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There's an issue with some users's btcmine accounts for that time period, because I can't access old btcmine stats.
Pool hopping doesn't really work with BTC Mine anyway, so I think people will be happy if you just share the coins for the unpaid shares equally for that site and spend the time on fixing bitcoins.lc instead. |
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It's of course possible that I am wrong. In that case could you please explain to me exactly how someone knows ahead of time that a pool will find a block before another pool such that the time spent in the new pool is going to be more valuable, on average, than time spent in another pool? More than 50% of the blocks are found in less than the average time it takes to find a block, so when a block has just started it is more than 50% likely that it will take less than average time to solve it. By jumping you can get more than your fair share of blocks that are found quickly, and waste less than average time on those that are not. |
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I just recently asked.
every monday.
I don't think nick5429 has ever said that, and the two previous payouts were on a Tuesday and a Wednesday. |
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Well you as the seller define the price. The buyer is always bullish. Every time you sell some bitcoin (in the "hope" that the price goes down), you sell it to someone who thinks that the price goes up. So basically every buyer thinks that the price goes up. Or to put it another way, half of the traders think that the price will go up. Only the sellers keep the price low.
So the conclusion for sellers should be, that whenever one can sell at a certain price, that price was essentially too low, because whenever one buy at a certain price, this one thinks that it will go up, and therefor would have bought at an even higher price.
If that's true then so is the opposite, but I guess most people here are too biased to see that. |
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I think you're the one not realizing that whatever it is that I give them is NOT increasing in price itself. If I invest in a box paper, my return on that paper will be 0%. Obviously I would prefer to sell that paper NOW and get the whole 10BTC, but if I can't sell it, and say a year down the road someone produces paper and pays their employees and sources deflation-adjusted costs, they'll be able to sell it at deflation adjusted prices, undercutting me. But the problem with your example isn't that you can't sell it for 10 BTC now, it's that you refuse to sell it for 9.95 BTC now. You are saying that they can't get it for that price unless they wait 2 months. Your formula breaks down if you accept 9.95 now instead of in 2 months, because then you should also accept 9.95 worth of dollars now. |
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But they are not buying money, they are buying product. As I said, it doesn't matter. You have given them 10 BTC worth of something, and you are saying that if they wait 2 months they only have to pay 9.95 BTC. I suppose this is something your brain just filters out for you because it creates cognitive dissonance when combined with what you obviously want to believe, but it is no less true. |
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Inflation means, these days, means price inflation. It can also mean money supply inflation. Money supply inflation causes price inflation (in the absence of other factors). I read what patvarilly wrote in his olive branch message to you, you don't look cleaver just by repeating it. This meaning doesn't make sense in the context of the thread, though. I still suggest you read about inflation, you'll learn useful stuff about the relation between money supply, size of economy and inflation. |
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