... bad money is the root of the problem!
Let's get rid if it.
 There is no such a thing as "bad money" ... you can't say "bad stone" because someone smashed your head with it! Currencies are essential because they facilitate the interchange of goods/services. Ciao. Fine point. But don't bring a knife to a gun fight .... and then praise the knife for being expertly crafted .... but inevitably not up to the job. There is such a thing as bad money, good money, better money and best money and it is a technological continuum. Cowrie shells and tally sticks are obviously past their use by date. Centrally issued fiat paper notes and their electronic ledgers representations are smelling pretty bad right about now too. |
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Actually, the easiest interpretation is encoded into the genesis block .... just one sentence.
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One thing to be sure of is that Nagle will be the last sucker to buy bitcoins .....
... and your math is absolute crapola, it doesn't 100k a day. You are meant to be a financial markets guy and you haven't 1st clue how money markets function ... I guess that's why Bear-Stearns, Lehman, Morgan-Stanley, Wells-Fargo, Washington Mutual, etc, etc are no longer solvent?
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+1 to the OP
... bad money is the root of the problem!
Let's get rid if it.
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Bitcoin is getting more and more stable all the time ... just another non-problem.
Wider adoption will introduce more stability will introduce wider adoption will ....
(see chodpaba time series analysis, the waves are getting broader and longer with each cycle => percentage-wise the volatility will decrease)
As I type, MtGox, Low: 13.51 High: 16.5 That's a change of 22.1% IN ONE DAY. This is stability? For perspective, the Dollar moved against the Euro by 0.8% today. The dollar has fallen against the Euro by about the same 22% margin.... it just took EIGHT YEARS rather than a day. "more stability" implies relative stability, no? 40% movements have been recorded not so long ago. For some real perspective, the dollar is 200 hundred years old, bitcoin is 2 years old. If the dollar was moving 22% in a day against anything after 200 years it would be time to get the hell out. No, relative stability doesn't work. By that logic I could declare I'm starting to dig the next grand canyon. I dug a 10ft hole in my backyard in 1 day. Grand canyon took thousands of years of erosion to create. Relatively speaking, I'm on good pace! Hint: when you are in a hole stop digging ... you appear to be out of your depth here. |
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what kind of loser buys socks for $20?
Some people buy Ferraris, we buy socks. It is the status symbol of choice for Bitcoin gazillionares the worldwide. Nice. ... and the more bitcoin you splashed out on socks the higher up the totem pole you must be. |
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He is saying that, should you mistake the self bootstrapping of a new currency for a speculative bubble (or vice versa) you are likely to make a serious error in investment choices.
Ehh.. I would argue they're one in the same. Either way you're speculating. Could pay off, might not. wrong, "speculative bubble" implies a bursting ... a boot-strapping currency is a bubble that doesn't burst (on a human economic finite time scale) |
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Bitcoin is getting more and more stable all the time ... just another non-problem.
Wider adoption will introduce more stability will introduce wider adoption will ....
(see chodpaba time series analysis, the waves are getting broader and longer with each cycle => percentage-wise the volatility will decrease)
As I type, MtGox, Low: 13.51 High: 16.5 That's a change of 22.1% IN ONE DAY. This is stability? For perspective, the Dollar moved against the Euro by 0.8% today. The dollar has fallen against the Euro by about the same 22% margin.... it just took EIGHT YEARS rather than a day. "more stability" implies relative stability, no? 40% movements have been recorded not so long ago. For some real perspective, the dollar is 200 hundred years old, bitcoin is 2 years old. If the dollar was moving 22% in a day against anything after 200 years it would be time to get the hell out. |
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Very interesting. Ironically, it seems like a good time to invest in mining equipment, as the difficulty shouldn't be going up much in the next month, but if people did that, then the difficulty _would_ rise.
Then again, it is probably an even better time to just buy if you are interested in investing. The price:difficulty ratio indicates that compared to the past, it is a good time to buy, not mine.
I'm guessing this means you don't predict a big price rise soon. Late August?
Yeah, I don't see any reason to think any different right now. The thing that makes sense to me is that these 'flat' periods are pretty essential to fueling the extended rallies. If it happens too soon it will probably just peter out and crash, and there probably isn't enough pent-up demand for that just yet. yep, the market is digesting, the flat periods are essential, the rallies (or dumps) are just the visible evidence and final outcome of all the mulling that has gone on for some period beforehand ..... a trigger makes them finally make the move on a price that they had already decided on days, weeks or months ago, trigger dates are an interesting angle of analysis also, seasons, moon cycles, tax dates, etc. ... think a drop to 9-10 area is on the cards before the big roller gets up steam again. After the flurry of news articles the quietness is interesting, lots of normally chattery people are mulling what the heck bitcoin means for them, if they haven't got an answer they like they'll be buying, "can't beat 'em join 'em" types ... |
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Confusing an historically anomalous monetisation event for a speculative bubble could be dangerous for your financial well-being.
Not sure what you are referring to here exactly, clarify if you could. I could, but I can't be bothered. I'll leave it as an exercise for the interested reader. humbug whatever? |
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Confusing an historically anomalous monetisation event for a speculative bubble could be dangerous for your financial well-being.
Not sure what you are referring to here exactly, clarify if you could. I could, but I can't be bothered. I'll leave it as an exercise for the interested reader. |
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So how did this story end?
Kevin joined a Tibetan monkery and gave away all his worldly goods, including his bitcoins ... the end. |
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chodpaba if you can't get wealthy somehow with your knowledge something is wrong with the world and efficient information markets theory
Indeed. When bitcoins take over the world, chodpaba will be elected supreme ruler. Lord of Slack perhaps. .... even a Lord of the manor has a price that will get him out of bed .... |
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The main reason bitcoin is unstable I think is from what I can see the exchanges don't reflect any kind of reality. Seems like everyone, myself included, is just riding a speculative bubble trying to get rich quick. You need to expand the market to actually buy useful goods with it. Trying to be a central banker and control the supply doesn't change those facts. I think the market would still be very volatile. Also, with Bitcoin exchanges when compared to tradional financial exchanges, how many are invested long-term?
What reality did you have in mind for the exchanges exactly? ... noone "needs" to DO anything ... people are using bitcoin for whatever they see fit and the price reflects that. Confusing an historically anomalous monetisation event for a speculative bubble could be dangerous for your financial well-being. |
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Bitcoin is getting more and more stable all the time ... just another non-problem.
Wider adoption will introduce more stability will introduce wider adoption will ....
(see chodpaba time series analysis, the waves are getting broader and longer with each cycle => percentage-wise the volatility will decrease)
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chodpaba if you can't get wealthy somehow with your knowledge something is wrong with the world and efficient information markets theory
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We're seeing a rebound after a two day selloff with big volume on both days. I would wait to see how it ends on the day just in case its a dead cat bounce. Then I might consider an entry.
I took some nice profits on the way down at 16 and then again at 15. I told myself I was just going to take the money and be happy, but I might put some back in if we get a dead cat bounce, which looks plausible. you bely your mentality here ... it is not when you take profits but what you take profits in ... for every sell there is a buy and vice versa ... sell dollars, buy a car ... buy gold, sell dollars .... buy bitcoin, sell jewellery/wife what asset do you want to be in today is really the question? ... tomorrow is another day. |
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BC will get bitcoin associated with British Columbia and all that BC bud that ends up in USA ... we wouldn't want Bitcoin associated with BC bud, it would give it a bad name
I think you smoked a little too much of that BC bud, buddy ...  I would surmise that 80% of potheads (or should I say medical marijuana patients) do not know what BC stands for, aside from Before Christ. Most of this demographic probably think Montreal and Toronto are provinces. Just my two (bit)cents. jokes on you now BC buddy .... /sarcasm |
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Separation of state and money.
It should be written in the constitution, there's some pro-active engagement right there for you. Free market money is the future. They can fight it or get swept away like dinosaurs in tidal wave of technical innovation.
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