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1621
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Economy / Speculation / Re: Bitcoins vast overvaluation
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on: September 20, 2013, 03:50:07 PM
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Ya people are not going to send cash via mail. If you know where to buy in 10 min without a month long verification process, excessive fees, or sending bank wire or cash deposited to a stranger's account. Please enlighten us. That is just your public wallet. I know you have coins because you are a lifetime member to the foundation. I think when I looked it was thousands of dollars that could only be paid in coins  Bitcoin has to be better than what people already use. "The revolution will be monetized!" or this will never happen Coinbase. Verification takes about a week (Which is the same as paypal or any other service that links to your bank account. It is a bit longer before you can buy insane amounts, but the default limits give you a lot of room). Fees are reasonable. |
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1622
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: September 20, 2013, 03:46:43 PM
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And, as I explained, it would be worthless. I don't understand your obsession with it.
If there were some evidence of early release, it would be valuable, as it would point to malfeasance. Though it is very unlikely to find that in the clear anywhere.
What exactly are you disagreeing with? I only made two claims:
1. There are dozens of people (Fed employees, board members) who knew the decision before it was public.
or
2. Most of those people are very well connected with Wall Street and government officials.
No problem with these as written, just that they don't lead to a meaningful conclusion in this context without a #3. Trading something public with inside knowledge, or disclosing that knowledge to someone that trades is what brings the trouble for them. I never made that claim. I was just saying that if #3 were to happen, a public release would not be necessary and a timestamp wouldn't show shit. I got in this whole mess because he asked what time the notes were released and I knew off the top of my head. I guess I should have just lmgtfy and walked away. I have no horse in this race, so I'm not going to run any more. Have fun guys. |
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1624
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Economy / Speculation / Re: Why is Bitcoin so cheap?
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on: September 20, 2013, 02:20:24 PM
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Bitcoin is valued at EXACTLY what is is worth TODAY. No more and no less. The market takes ALL factors into consideration and dictates what its price is at any given moment in time. Tomorrow BtC will also be exactly right...regardless if it is up or down. If the equilibrium starts to tilt in any direction the market will correct it within minutes.
This. The market is efficient. If the market is efficient, how come price was $266 one day, and then $50 two days later? What changed? Oh yeah, nothing but the price itself. If you claim the market approaches efficiency in the limit, I won't argue. But at any given moment the market can be super inefficient. |
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1625
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: September 20, 2013, 02:14:01 PM
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... The timestamp could be from the .gov site or any site that crawled it.
And, as I explained, it would be worthless. I don't understand your obsession with it. And I still have seen no proof for what you are saying.
What exactly are you disagreeing with? I only made two claims: 1. There are dozens of people (Fed employees, board members) who knew the decision before it was public. or 2. Most of those people are very well connected with Wall Street and government officials. |
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1626
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: September 20, 2013, 12:06:45 PM
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today's whole FOMC exercise is the #1 reason why a centrally planned printing press favors those who control it.
i guarantee you someone other than just Ben knew ahead of time what the decision was going to be. which is precisely why the gold market popped a full 3 min before the announcement.
if there was ever a time and need for a "fair" money...
When were the meeting notes released to the public exactly? this is what you are looking for. times are PST: <snip> No, I want to know when a website first made the meeting notes available to the public. Pretty sure website makers knew after just about everyone else. ??What?? How are the meeting notes distributed to the public? I assumed some .gov site would just host them. Sure the news sites and blogs write up a story after the minutes are released... but I want to know the first moment a trading bot could have gotten the minutes from a public source. Pretty basic stuff, I was going to lmgtfy, but I'll be nice and give you a direct link: http://www.federalreserve.gov/newsevents/default.htmWhen the Fed announces a 2pm release, they don't publicly release early. I assume this to be true, yet I still have not found actual data to support it. A time stamp would be great. A timestamp is worthless. It only records the system time, which can be off by several minutes either intentionally or unintentionally. I don't think you need to be looking for an early public release when there were dozens of people who knew early that are highly connected to both Washington and Wall Street. |
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1628
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Economy / Speculation / Re: The Great Silk Road Crash of 20** ...?
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on: September 20, 2013, 02:02:38 AM
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Desolator, sadly for some argueing this is right. Formal education is a must for ANY trade or practice. I'd go out on a limb and say yeah you don't need college. But you cannot do it alone. You need mentors, you need critic's and furthermore you actually need a hard hitter like desolator to point this out.
If you want an example as to why. Go on digital point. Have one of those east indian coders do something extremely simple for you. You will pay for googled code. Ask them to provide source code then do some googleing of your own. You get what you pay for.
At any rate the point is, you can't be 100% self made. Ask yourself this question involveing a totally different field. If your house was on fire would you want the trained crew of emergency responders. Or the weekend on call crew that has basic training?
I won't argue against the need for mentors, but formal training is absolutely not necessary for all people. Most people have no motivation to learn without formal structure, but some people can do it. |
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1629
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: September 20, 2013, 01:44:45 AM
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today's whole FOMC exercise is the #1 reason why a centrally planned printing press favors those who control it.
i guarantee you someone other than just Ben knew ahead of time what the decision was going to be. which is precisely why the gold market popped a full 3 min before the announcement.
if there was ever a time and need for a "fair" money...
When were the meeting notes released to the public exactly? this is what you are looking for. times are PST: <snip> No, I want to know when a website first made the meeting notes available to the public. Pretty sure website makers knew after just about everyone else. ??What?? How are the meeting notes distributed to the public? I assumed some .gov site would just host them. Sure the news sites and blogs write up a story after the minutes are released... but I want to know the first moment a trading bot could have gotten the minutes from a public source. Pretty basic stuff, I was going to lmgtfy, but I'll be nice and give you a direct link: http://www.federalreserve.gov/newsevents/default.htmWhen the Fed announces a 2pm release, they don't publicly release early. |
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1630
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: September 19, 2013, 01:25:56 PM
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today's whole FOMC exercise is the #1 reason why a centrally planned printing press favors those who control it.
i guarantee you someone other than just Ben knew ahead of time what the decision was going to be. which is precisely why the gold market popped a full 3 min before the announcement.
if there was ever a time and need for a "fair" money...
When were the meeting notes released to the public exactly? 2pm EST |
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1632
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Economy / Speculation / Re: 18 Sept 2013 Untaper
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on: September 18, 2013, 08:13:56 PM
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Indeed, I can't believe my eyes. I think the bitcoin market is lacking this sort of awareness. Anyway, I bought some btc Just wait until Wall Street closes for the day. That's when they pay attention to Bitcoin. |
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1633
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Economy / Speculation / Re: What are you doing here?
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on: September 18, 2013, 08:11:47 PM
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buy & hold is speculating. one decides NOT to sell. every day. i would not agree that the only speculators are the daytraders. i am on buy & hold, but i keep checking this forum to be prepared for panic sells...  Not necessarily. It may not be common for most users of this forum, but it is indeed possible to hold bitcoins and go a whole day without even thinking about them once. If you have to check every day, you are probably overexposed. |
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1634
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Economy / Speculation / Re: The Great Silk Road Crash of 20** ...?
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on: September 18, 2013, 07:41:56 PM
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I meant ones who, like me, actually went to college to learn programming and database design.
>I meant ones who, like me, >like me >actually went to college >to learn programming and database design. The fact you "had" to go to college to learn this is quite telling. Your ego is quite bloated, friend. Yes, normal programmers go to college to get real world training from career programmers who actually know what they're talking about. If you're just some nerd sitting in front of your computer with a textbook you got off Amazon, trying to learn it with zero guidance or on some forum full of arrogant douchebags who pretend they're professional programmers too, good fucking luck. That's where garbage code with no standards, no comments, and no sense comes from. If you want to know what kind of software comes from self-taught dumbfucks who are clueless about UI design standards and efficient programming, look at Fedora 18. It's like me trying to write a symphony and not knowing shit about music, lol. What a coincidence that the same exact people saying professional programming training isn't necessary are the same ones who talk out their ass about security vulnerabilities and make immature, misguided comments to anyone they view as potentially superior to them because they have no self esteem. I guess dumbasses about programming are dumbasses about everything in life. The vast majority of the code that monitors satellite and seismographic data to identify nuclear tests for the US gov was written by someone with no formal training in programming. He was self taught and frequently schooled those with formal training. However, he is very intelligent. Not everybody can teach themselves, but formal training isn't necessary for everyone. I'm almost done with my CS masters and I have a bachelors in CS and Math, but he often teaches me things I would never learn in school. |
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1635
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Economy / Speculation / Re: Told ya so.
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on: September 18, 2013, 07:29:56 PM
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Assuming steady price, yes. However, next time we have a 2011 style capitulation, we will likely see difficulty take a dip.
I doubt there will ever be a 90+% drop again, unless it's a 100% drop. But you never know... It's more about a longer term downtrend than the percentage drop since difficulty adjusts to price very slowly. |
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1636
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Economy / Speculation / Re: Told ya so.
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on: September 18, 2013, 03:49:06 PM
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The exponential growth of hash rate can not go on forever, we will see some storm after many ASIC devices become reserve hash power due to they cost more in electricity than mined coins I'll check this prediction in 3 months Exponential growth is an accelerating curve so yes I agree. But linear growth of hashrate will likely continue on a constant average slope I believe with newer and refined technologies. Assuming steady price, yes. However, next time we have a 2011 style capitulation, we will likely see difficulty take a dip. |
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1637
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Economy / Economics / Re: How to actually start an anarchy?
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on: September 18, 2013, 05:13:57 AM
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You don't start an anarchy. They naturally arise after revolution. However, the huge productivity of relatively free people quickly creates a "power vacuum" that draws in those who make a living controlling others. |
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1638
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Economy / Economics / Re: Best way to turn 2BTC into 4BTC
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on: September 18, 2013, 01:42:31 AM
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Go to a online casino supporting bitcoin payment, buy some chips and go to a single zero roulette game, bet all on RED: 47.3% chance to double it Martingale that shit  |
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1640
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Economy / Speculation / Re: [Poll] Do you have a life?
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on: September 18, 2013, 12:21:55 AM
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I get in trouble, because I browse this forum constantly at home when me and the wife are watching tv. She gets pissed, I tell her "We are watching cartoons....and I am sitting next to you. What the hell? I am reading educational content, while the kid and you stare at Sponge-bobs nappy butt.. So stop complaining!"
Am I wrong?
wife: "but you're not present". Haha, I know all about that one, because I am the one doing the nagging and getting pissed. Damn, I was hoping I would find I was in the right...guess not lol Pay attention to your kids. They might not appreciate it, but if you don't they will hate you for it. It has taken me years to try and build a relationship with my father as an adult, and I'm still not able to give him the benefit of the doubt. |
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