sgbett
Legendary
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Activity: 2576
Merit: 1087
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April 09, 2013, 04:48:04 PM |
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Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.
Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares?   i dont get it. please enlighten me? |
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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600watt
Legendary
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Activity: 2338
Merit: 2106
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April 09, 2013, 04:49:37 PM |
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I'm about to jizz in my pants! +1 i am a student of modern history. but i don´t need to ask my professor to know. we are making history. either way. tulips? it´s not a bubble. its cryptotulipical |
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nobbynobbynoob
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April 09, 2013, 04:55:14 PM |
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RE Berkshire Hathaway shares
i dont get it. please enlighten me?
Looks like a fair example of a market that's almost permabullish to me. |
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Pruden
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April 09, 2013, 05:00:39 PM |
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Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.
Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares? I know that corporation, but in your graph I fail to see any tenfold increase in a matter of weeks neither a hyperbolical growth slashing doubling times by half into a matter of days. |
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zoolander
Member
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Activity: 75
Merit: 10
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April 09, 2013, 05:04:01 PM |
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Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.
Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares? Please tell me you not trying to justify Bitcoin's growth by comparing it to company that specializes in long term investments in companies notably eschewing even the most successful technology stocks, never-mind currency experiments like Bitcoin. Warren Buffet wouldn't touch Bitcoin with a barge pole. |
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Jaw3bmasters
Full Member
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Activity: 196
Merit: 100
Another block in the wall
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April 09, 2013, 06:15:29 PM |
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Warren Buffet wouldn't touch Bitcoin with a barge pole.
His son probably does. |
In Cryptography we trust.
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sgravina
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April 09, 2013, 08:03:07 PM |
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Question: How long does it typically take for the USD exchange rate of bitcoin to double? Answer: | Start_rate | End_rate | #_of_days | Dates | | $3.125 | $6.25 | 194 | 2011-12-01 to 2012-06-15 | | $6.25 | $12.5 | 163 | 2012-06-15 to 2012-11-25 | | $12.5 | $25 | 79 | 2012-11-25 to 2013-02-12 | | $25 | $50 | 30 | 2013-02-12 to 2013-03-18 | | $50 | $100 | 14 | 2013-03-18 to 2013-04-01 | | $100 | $200 | 8 | 2013-04-01 to 2013-04-09 |
Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400? This post just made me cash out. I just sold almost all my bitcoins on MtGox for $236 each. I'm going to use the dollars to pay off debt. I don't understand the price appreciation. If I had money right now to invest I would not buy bitcoins. Thus I shouldn't keep my bitcoins because the dollars are more valuable to me. If the price does collapse I will be glad to have taken this move. If the price keeps doubling every day or so then I will just wonder why? I don't think I will ever understand it. It challenges my very conception of what value is. |
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samurai1200
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April 09, 2013, 08:23:24 PM |
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I just sold almost all my bitcoins...
I don't understand the price appreciation.
Oops.  |
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BTCLuke
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April 09, 2013, 08:32:17 PM |
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I wish we could make everyone here post the last position they took on bitcoin underneath their name....
BTCLuke
Bought at $3
Still holding
sgravina
Sold at $236
Scared shitless
Wouldn't that be useful? Let's start a petition.
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Luke Parker
Bank Abolitionist
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600watt
Legendary
Offline
Activity: 2338
Merit: 2106
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April 09, 2013, 08:33:58 PM |
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Question: How long does it typically take for the USD exchange rate of bitcoin to double? Answer: | Start_rate | End_rate | #_of_days | Dates | | $3.125 | $6.25 | 194 | 2011-12-01 to 2012-06-15 | | $6.25 | $12.5 | 163 | 2012-06-15 to 2012-11-25 | | $12.5 | $25 | 79 | 2012-11-25 to 2013-02-12 | | $25 | $50 | 30 | 2013-02-12 to 2013-03-18 | | $50 | $100 | 14 | 2013-03-18 to 2013-04-01 | | $100 | $200 | 8 | 2013-04-01 to 2013-04-09 |
Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400? This post just made me cash out. I just sold almost all my bitcoins on MtGox for $236 each. I'm going to use the dollars to pay off debt. I don't understand the price appreciation. If I had money right now to invest I would not buy bitcoins. Thus I shouldn't keep my bitcoins because the dollars are more valuable to me. If the price does collapse I will be glad to have taken this move. If the price keeps doubling every day or so then I will just wonder why? I don't think I will ever understand it. It challenges my very conception of what value is. but it will keep going for an entire week. you miss 3x double... |
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Crypt_Current
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April 09, 2013, 08:34:45 PM |
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I just sold almost all my bitcoins...
I don't understand the price appreciation.
Oops. yerp. those with eyes to see will see clearly. those with ears to hear will listen correctly and receive the correct message, and hopefully act accordingly. |
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Malawi
Full Member
Offline
Activity: 224
Merit: 100
One bitcoin to rule them all!
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April 09, 2013, 08:38:39 PM |
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Question: How long does it typically take for the USD exchange rate of bitcoin to double? Answer: | Start_rate | End_rate | #_of_days | Dates | | $3.125 | $6.25 | 194 | 2011-12-01 to 2012-06-15 | | $6.25 | $12.5 | 163 | 2012-06-15 to 2012-11-25 | | $12.5 | $25 | 79 | 2012-11-25 to 2013-02-12 | | $25 | $50 | 30 | 2013-02-12 to 2013-03-18 | | $50 | $100 | 14 | 2013-03-18 to 2013-04-01 | | $100 | $200 | 8 | 2013-04-01 to 2013-04-09 |
Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400? This post just made me cash out. I just sold almost all my bitcoins on MtGox for $236 each. I'm going to use the dollars to pay off debt. I don't understand the price appreciation. If I had money right now to invest I would not buy bitcoins. Thus I shouldn't keep my bitcoins because the dollars are more valuable to me. If the price does collapse I will be glad to have taken this move. If the price keeps doubling every day or so then I will just wonder why? I don't think I will ever understand it. It challenges my very conception of what value is. Even though I see your point, and I think this is a bubble, I would not have sold more or less everything. But then again, I would already have sold several smaller posts as I think this rate is unsubstainable in the short run. |
BitCoin is NOT a pyramid - it's a pagoda.
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DannyHamilton (OP)
Legendary
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Activity: 3360
Merit: 4570
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April 09, 2013, 09:01:11 PM |
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I wish we could make everyone here post the last position they took on bitcoin underneath their name....
BTCLuke
Bought at $3
Still holding
sgravina
Sold at $236
Scared shitless
Wouldn't that be useful? Let's start a petition.
Would making a purchase using bitcoin be considered a "position"? If someone makes a purchase valued at $1000 at the time, and uses bitcoin to pay for that purchase, should that be considered the same as taking a position of "selling" at whatever the rate was at the time of purchase? |
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nobbynobbynoob
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April 09, 2013, 09:51:10 PM |
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Would making a purchase using bitcoin be considered a "position"?
If someone makes a purchase valued at $1000 at the time, and uses bitcoin to pay for that purchase, should that be considered the same as taking a position of "selling" at whatever the rate was at the time of purchase?
For the individual using that bitcoin I suppose the end result would be pretty much the same either way. But purchasing real products with bitcoin rewards and helps bitcoin businesses, and thereby the currency and economy as a whole. Personally, I generally "don't do" buying fiat with my BTC but I do buy stuff with BTC from time to time. |
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georgeu2000
Newbie
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Activity: 35
Merit: 0
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April 09, 2013, 10:07:06 PM
Last edit: April 10, 2013, 02:54:44 PM by georgeu2000 |
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| Start_rate | End_rate | #_of_days | Dates | | $3.125 | $6.25 | 194 | 2011-12-01 to 2012-06-15 | | $6.25 | $12.5 | 163 | 2012-06-15 to 2012-11-25 | | $12.5 | $25 | 79 | 2012-11-25 to 2013-02-12 | | $25 | $50 | 30 | 2013-02-12 to 2013-03-18 | | $50 | $100 | 14 | 2013-03-18 to 2013-04-01 | | $100 | $200 | 8 | 2013-04-01 to 2013-04-09 | | $200 | $400 | 4 | 2013-04-19 to 2013-04-23 | | $400 | $800 | 2 | 2013-04-23 to 2013-04-25 | | $800 | $1,600 | 1 | 2013-04-25 to 2013-04-26 |
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TraderTimm
Legendary
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Activity: 2408
Merit: 1121
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April 09, 2013, 10:07:25 PM |
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My personal thesis is we need a correction at some point. I think we're near one now. The next 24 hours for me will be illuminating.
If we do achieve some crazy valuation like $1,000 - I'll have to reconsider, but for now I'm very apprehensive about a chart that looks insane on the LINEAR scale and the LOG scale.
The trader inside me is saying "cover and hunker down". I'd recommend you cover what you're comfortable with, because it is getting very nutty out there.
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fortitudinem multis - catenum regit omnia
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And1
Member
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Activity: 62
Merit: 10
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April 09, 2013, 10:40:11 PM |
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Demonetization in this way is impossible. It will cause hyperinflation of fiat too and in result BTC will devaluate together with fiat in the end. But some people will loose all money while others will get fortunes, it will also destabilize markets. Goverment will simply ban BTC. All this ride started one or two days after legalizing BTC (i have stupid guess that this move was to spite China) and might stop like this.
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nobbynobbynoob
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April 09, 2013, 11:33:39 PM |
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Demonetization in this way is impossible. It will cause hyperinflation of fiat too and in result BTC will devaluate together with fiat in the end. But some people will loose all money while others will get fortunes, it will also destabilize markets. Goverment will simply ban BTC. All this ride started one or two days after legalizing BTC (i have stupid guess that this move was to spite China) and might stop like this.
This will probably be as effective as the government "simply banning" various drugs... or guns in Chicago... or driving over 55/65/70 mph on an empty highway in Nebraska... |
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And1
Member
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Activity: 62
Merit: 10
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April 10, 2013, 11:50:26 AM |
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Agree that its impossible to completely stop bitcoin, but it will pop the bubble as exchanges, bitpay etc will be forbiden too.
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nobbynobbynoob
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April 10, 2013, 12:15:21 PM |
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Agree that its impossible to completely stop bitcoin, but it will pop the bubble as exchanges, bitpay etc will be forbiden too.
They would thrive online by operating out of territories where bitcoin is at least legal if not encouraged, the way that online gaming does now. But buying/selling bitcoin would become somewhat trickier in banned countries, for sure. |
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