Wary
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September 23, 2013, 11:42:12 PM |
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And we are witnessing just how those details emerge throughout the fledgling Bitcoin ecosystem. Are you referring to some specific events? Can you elaborate?
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Adrian-x
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September 24, 2013, 12:40:25 AM |
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Well, for one, that quantitative metrics matter. It is not sufficient to make a projection to extremes based on the limited understanding of a theory. This is important for understanding little things like when you can apply linear relationships and when you have to apply exponential relationships... Little things like that.
For another. Market systems are more complex than you might expect if the only model you have for them is a cartoon. It is insufficient to simply dismiss things you don't agree with as 'externalities'. One thing we have learned very well about risk management is that externalities and complexities matter.
The point Austrians make is it isn't up to central authorities to manage the economy, but to individuals to manager there activity in an economy, to that point quantitative metrics, with regards to risk management is that externalities and complexities do matter, if you want to manage your participation at a highly effective level. It isn't justification to warrant central control. A Economy is a measure of economic interactions in a given system - v - Directing Economic interactions in a system to achieve an Economy. This is what I am talking about. Austrians tend to wax poetic about economic generalizations. But the actual devil is in the details. And we are witnessing just how those details emerge throughout the fledgling Bitcoin ecosystem. I'm still not convinced the NSA doesn't pay your salary I see value in the Chicago schools / Monetarists approach in the velocity of money -v- economic activity, and agree should speculative demand diminish that it would be the most accurate method for evaluating XBT actual value. But Monetarists have this elephant in the room called the Central Bank, (more akin to "Seymour" form the Little Shop of Horrors) not to mention a subjective view of Economic Prosperity, that is not shared by all participants in the Economy. The tools are best used not by a Central Bank but by the wealth managers in the economy. But I couldn't agree more that Bitcoin Land is an education, albeit a cognitive infiltration, but it could be working in reverse like Sonmi-451 educating her interviewer in The Cloud Atlas.
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Adrian-x
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September 24, 2013, 12:53:28 AM |
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Are you referring to some specific events? Can you elaborate?
Price exploration - adoption - success - those who have taken the red pill are running the 7th revision of the matrix, and cognitive infiltration is either your kryptonite or motivation to master the matrix.
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Adrian-x
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September 24, 2013, 01:50:48 AM |
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If only.
Sonmi-451... That's how counterintelligence works.
I also happen to think that Bitcoin was introduced to provide that education to CB's et al. Just as the Snowden revelaitons are being used to bludgeon the world into better IT security, where the NSA would actually have an edge. It is much more efficient than the political process.
Thank chodpaba, Not that I approve of the NSA having an edge when it comes to an all seeing eye, but I like the idea of educating CB's albeit a long shot, I can't see any harm in it. I hope that doesn't imply Bitcoin has an off switch? I'll give you an A for analysis, although you are stretching by deductive reasoning skills I still like to live in the world where the grass grows because it gets a little fertiliser, water and care, and Satoshi was an individual.
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Adrian-x
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September 24, 2013, 01:53:56 AM |
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For one thing, it's teaching righties about the efficacy of syndicalist systems.
Would you equate individuals buying into Bitcoin, in the same vain as partaking in a syndicalist systems?
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Adrian-x
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September 24, 2013, 02:21:05 AM |
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Think about it this way... In the 1990's Alan Greenspan spoke of the inevitability of an algorithmic monetary system. If you know that something like that is going to happen wouldn't you want to be on the cutting edge of it rather than chasing it? How do you set up a laboratory to see how something like that would actually work in the real world, and get official approvals for it?
If you know of the inevitability of a Wikileaks, why not just set up your own? etc.
It's all war games.
What I believe Greenspan, was referring to is managing the money supply through rules inherent in monetarist theory, free of political manipulation. Bitcoin could be a real world experiment, but it seems to me to be the antithesis of an algorithmic monetary system. Sure Bitcoin could be a real world experiment, if it is I love the theory, so the question remains, how do you bring it under control, does it have an off switch? Or is its success proof of the thesis.
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Wary
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September 24, 2013, 08:56:21 AM |
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For one thing, it's teaching righties about the efficacy of syndicalist systems. You mean, after reading an article about bitcoin republicans are joining trade-unions?
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CMMPro
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September 24, 2013, 11:16:08 AM |
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on a side note totally unrelated to the talks in this thread about infiltrating the Austrian school...
does btc-tc closing have an impact price and btc speculative supply? or is this a non event?
Most people who invest in btc securities are probably investing bitcoins they're already hoarding. And most of them are keeping their shares instead of panic selling. Most investors probably aren't looking to get out of bitcoin just because a securities exchange is winding down. There are alternatives, and most issuers have already assured their investors that a transition will be made. Overall I don't think it will have any impact. I don't think Btc-tc was a huge part of the bitcoin economy, and like I said, most people are holding. I don't actually have any numbers, though, so I'm kinda just talking out my ass. If anyone else has some insight I'd love to hear it. I think you are correct. Investing was seen as a means of "cold storage with benefits" more than anything. None of those people are thinking about cashing out, except back into cold wallets, definitely not USD.
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prophetx
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he who has the gold makes the rules
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September 24, 2013, 11:48:59 AM |
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on a side note totally unrelated to the talks in this thread about infiltrating the Austrian school...
does btc-tc closing have an impact price and btc speculative supply? or is this a non event?
Most people who invest in btc securities are probably investing bitcoins they're already hoarding. And most of them are keeping their shares instead of panic selling. Most investors probably aren't looking to get out of bitcoin just because a securities exchange is winding down. There are alternatives, and most issuers have already assured their investors that a transition will be made. Overall I don't think it will have any impact. I don't think Btc-tc was a huge part of the bitcoin economy, and like I said, most people are holding. I don't actually have any numbers, though, so I'm kinda just talking out my ass. If anyone else has some insight I'd love to hear it. I think you are correct. Investing was seen as a means of "cold storage with benefits" more than anything. None of those people are thinking about cashing out, except back into cold wallets, definitely not USD. That is pretty much as I thought, glad people seem to agree on this. I think a few panic sold, but that was just the typical knee jerk reaction coming from the day trading set. But I have not looked at the price charts again, so it will be good to at least track this over the next week to see what the leakage is. I wonder if this is creating new arbitrage opportunities between stock exchange markets and how efficient the markets are to find a balance.
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prophetx
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he who has the gold makes the rules
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September 24, 2013, 12:05:09 PM |
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For one thing, it's teaching righties about the efficacy of syndicalist systems. You mean, after reading an article about bitcoin republicans are joining trade-unions? I thought most true Republicans were for small, limited govt which would imply support for the use of private associations, or syndicates or cartels, for the governance of trade and commerce. But then again the party has been infiltrated by corporatists who love helping big industry suck from the govt tit. Our grandfathers are rolling over in their graves.
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Ivanhoe
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September 24, 2013, 02:02:26 PM |
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Volume is awful low
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molecular
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September 24, 2013, 06:33:02 PM |
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wtf girls and guys, is 123 the new 5?
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windjc
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September 24, 2013, 06:44:18 PM |
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wtf girls and guys, is 123 the new 5?
I don't know. What I do know is that this thread has completely degenerated off topic.
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molecular
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September 24, 2013, 06:53:08 PM |
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wtf girls and guys, is 123 the new 5?
I don't know. What I do know is that this thread has completely degenerated off topic. I've always seen this thread as kind of a lounge. Doesn't fulfill that purpose any more, either.
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adamstgBit
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September 24, 2013, 06:54:44 PM |
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I just bought into an RESP, for my younger son. and the 45-50 year old lady selling me the RESP, had heard of bitcoin. We fill out some forums and talk about bitcoin a bit here and there. I tell her bitcoin is the future and she looks at me like , and says i believe it!, turns out her husband is into investing and that how she heard about bitcoin, but still hasn't bought any, mostly because they are not sure how, lol. I gave her one of my general purpose biz card with cavirtex.com on the back and told her to buy buy buy! just thought i'd share that
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uyo
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September 24, 2013, 06:56:09 PM |
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wtf girls and guys, is 123 the new 5?
I was thinking about the same today. Furthermore, from 5 it went only higher.
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molecular
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September 24, 2013, 07:04:12 PM |
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I'm looking at weekly volume on mtGox (in BTC)
Last week it has been the week with the lowest volume since the week of Jun 20 2011. And that was the week with the hack and mtGox being offline for 4.5 days. LOL.
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bobdude17
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September 24, 2013, 07:12:20 PM |
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I'm looking at weekly volume on mtGox (in BTC)
Last week it has been the week with the lowest volume since the week of Jun 20 2011. And that was the week with the hack and mtGox being offline for 4.5 days. LOL.
Low volume is a good set up for a breakout, no?
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ElectricMucus
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Marketing manager - GO MP
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September 24, 2013, 07:16:23 PM |
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Well it is essentially dysfunctional. If it's down or works as a bucket shop doesn't really matter apparantly.
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