Spend 5k on the car and 15k on BTC. There are plenty of decent cars for 5k.
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Nothing unusual there Imagine how the Chinese feel trying to read the Satoshi white paper in mandarin using google translate.
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The TLDR version of the China news is that some senior party official banking guy restated the Dec 6 announcement which was that people are free to trade in bitcoin at their own risk.
This is being taken as a sign that nothing will happen on 31 Jan.
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There is no reason why Bitcoin QT (or it's replacement) has to download anything more than say the past 100,000 blocks. Prior blocks could be stores on supernodes which still do not have to be centralised.
Problem solved.
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Traditional hedges include gold and real estate. Bitcoin is certainly very promising as another defensive asset class.
At first glance these do indeed seem like effective hedges against inflation, yet when you add capital gains tax to the mix, some of the wind is taken from the sails. Who cares when your mortgage is reduced to pennies (in real terms). And we all know that bitcoin is also subject to capital gains tax. If serious inflation arrives you will know about it. If the price of gasoline suddenly doubles then pay attention. If the price of bread doubles pay attention. If the price of computers (measured in flops) doubles then run around screaming. But futures indexes are piss poor predictors of the future (otherwise we would all be rich). You can sit and draw lines on charts all day long and it means bugger all in the real world. If you really care about this write code that scrapes real time pricing data off websites for basic commodities and do your own real time inflation index. Work with real data in real time not bullshit from gold bugs. If you are good enough at it you can front run the Fed inflation figures and make your fortune that way.
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Traditional hedges include gold and real estate. Bitcoin is certainly very promising as another defensive asset class.
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Yes lightning strikes happen quite quickly too.
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Sorry you will need to do better. *Where are you getting the chips from? *Why are you proposing to scatter them all over the world? *What do you bring to the table? if we can hook up with a brilliant design team the rest are details.
Very important details.
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No sign of hyperinflation in any advanced economy today. Maybe come back in 10 years and check again.
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It's hopeless. We need to move the decimal place. Mexico devalues its currency when too many zeros pile up and changes 1,000 peso notes into 1 peso notes.
We need to do the opposite and have an upvaluation.
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Look you can play this game in your own bedroom. Put a pile of bitcoin (monopoly money) on your bed along with your spare change and pretend that is the ATM. Pick the current market price as the starting point. Then flip a coin and if it's heads increase the price of bitcoin by 10 USD and if tails reduce the price by 10 USD.
Every coin flip do an arbitrage trade against the machine (your bed). The machine plays catch up and sets it's new price to match the "market price" after the trade. You will quickly find that the machine (your bed) runs out of money OR bitcoin and becomes stranded on the wrong side of the market price unless you run a huge spread which makes it unprofitable to trade.
You're still not getting it. The ATMs don't JUST use the market price, it also uses the amount of cash it has left. Hence the 'closed loop' part. So the last $10 it has, might, for instance, cost you 200% market value. Add to that a 3% service charge there won't be much, if any, scope for arbitrage. Make up your mind. Is the ATM market linked or not? Only if it is market linked with a premium then yes it will work. If it is running off a pure internal demand and supply algorithm then it will fail. Market linked with a premium, which changes depending on the local supply/demand. It's not that hard to imagine. Yes agree perfectly feasible. What about the risk of the machine accepting counterfeit notes and issuing counterfeit notes to the public?
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Well looks like they made a deal no shut down this time around.
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Look you can play this game in your own bedroom. Put a pile of bitcoin (monopoly money) on your bed along with your spare change and pretend that is the ATM. Pick the current market price as the starting point. Then flip a coin and if it's heads increase the price of bitcoin by 10 USD and if tails reduce the price by 10 USD.
Every coin flip do an arbitrage trade against the machine (your bed). The machine plays catch up and sets it's new price to match the "market price" after the trade. You will quickly find that the machine (your bed) runs out of money OR bitcoin and becomes stranded on the wrong side of the market price unless you run a huge spread which makes it unprofitable to trade.
You're still not getting it. The ATMs don't JUST use the market price, it also uses the amount of cash it has left. Hence the 'closed loop' part. So the last $10 it has, might, for instance, cost you 200% market value. Add to that a 3% service charge there won't be much, if any, scope for arbitrage. Make up your mind. Is the ATM market linked or not? Only if it is market linked with a premium then yes it will work. If it is running off a pure internal demand and supply algorithm then it will fail.
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Pay attention please. I think it's time to panic sell again.
We need some high quality FUD.
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-1 for posting about $7 bitcoin
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I am most definitely not a mathematician. But I don't think it would work.
I would stand in front of the ATM all day and arbitrage it.
That means I would make a profit on every trade. Trading is a zero sum game so the machine would make a loss on every trade. Eventually all value in the machine would be destroyed.
It cannot be any other way. There is no such thing as a perpetual motion machine or magic sausage machine.
Maybe someone more skilled than I can show this mathematically.
You are not an economist either! You have just demonstrated why it would work! Imagine an urban area with real time info online on the price of all the machines. There would be apps to win form interested people when they were close to a machine that had deviated from the mean exchange rate. The would then sell or buy bitcoins, thus restocking the machine. This arbitrage is not zero sum. It is actually a more opportunistic and decentralised way to replace a network of security vans who periodically withdraw and deposit money from banks, with all parties taking a cut on the way. So you could do your arbitraging and be happy you are providing a useful service to the community! Look you can play this game in your own bedroom. Put a pile of bitcoin (monopoly money) on your bed along with your spare change and pretend that is the ATM. Pick the current market price as the starting point. Then flip a coin and if it's heads increase the price of bitcoin by 10 USD and if tails reduce the price by 10 USD. Every coin flip do an arbitrage trade against the machine (your bed). The machine plays catch up and sets it's new price to match the "market price" after the trade. You will quickly find that the machine (your bed) runs out of money OR bitcoin and becomes stranded on the wrong side of the market price unless you run a huge spread which makes it unprofitable to trade.
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I love dinosaurs. I wish we had honey badger patterns right now though.
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There is a price rally every weekend.
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If it somehow became public knowledge that you had a piece of paper in your house that was worth $120 million USD how long do you think it would take for your front door to be kicked down by a very determined group of heavily armed bandits? Or for a group to jump you when you come from the bank safety deposit box?
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