Ivanhoe
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October 18, 2013, 11:59:23 AM |
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30d high and the day has just begun. Nice !
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ChartBuddy
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October 18, 2013, 12:01:54 PM |
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samson
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October 18, 2013, 12:13:52 PM |
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30d high and the day has just begun. Nice !
Less than 4000 BTC to go above the $166 high since the April crash.
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DougTanner
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October 18, 2013, 12:48:43 PM |
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Looks like we hit $165 ~an hour ago. Probably the same whale that did the sell two days ago to try to cause a panic sell. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FzCkEYKJ.jpg&t=665&c=F4BxaBs-7f9KmQ)
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Zangelbert Bingledack
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October 18, 2013, 12:59:13 PM Last edit: October 18, 2013, 01:09:52 PM by Zangelbert Bingledack |
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This part of the IMF document was striking: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FjJm2Yzr.jpg&t=665&c=zPenM8BSKMD2-g) They're basically saying the bail-in has to be a surprise in order for it to work properly. That means we shouldn't necessarily look to news developments for early warning. There's no one who can now think "it can't happen here" or "I'd know if it were about to happen" or "other less stable countries would do it first, giving early warning." No, this indicates it will probably happen all at once, in many countries or every country in a certain region on the same day. It could happen tomorrow afternoon. Are you ready? Or are you content to be a sheep getting shorn? 10% of your net worth gone *poof* just like that. Wait until the wealthy get wind of this. This is a message that could ignite the real fire under the bitcoin price. There is simply no other suitable protection.
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ChartBuddy
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October 18, 2013, 01:02:01 PM |
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Richy_T
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October 18, 2013, 01:48:09 PM |
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Because of the so-called "no-bill bill" passed in 1998, US dollar notes may not be exported from the US. I think they were classified as ammunition or something to that effect. For that reason, to transfer USD internationally across US borders without having to struggle with the legal implications of smuggling war material, a bank has to convert the money into quarters before shipping overseas.
Unless you're the US government where you just put a cool billion on a palette, stick it in a warehouse and it "mysteriously" disappears.
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Richy_T
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October 18, 2013, 01:49:27 PM |
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It would be good to have one website, maybe in the Bitcoin wiki to have all the international wire-transfer fees summed up by country and by bank, compared to Bitcoin. Could someone create such a page? Well volunteered.
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Richy_T
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October 18, 2013, 01:52:06 PM |
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Also, given the current administration's proclivities... this all probably has more to do with preventing medical tourism (under the auspices of AML) than anything to do with Bitcoin. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) +1 interesting.
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Richy_T
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October 18, 2013, 01:57:17 PM |
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They're basically saying the bail-in has to be a surprise in order for it to work properly. That means we shouldn't necessarily look to news developments for early warning. There's no one who can now think "it can't happen here" or "I'd know if it were about to happen" or "other less stable countries would do it first, giving early warning." No, this indicates it will probably happen all at once, in many countries or every country in a certain region on the same day. It could happen tomorrow afternoon. Are you ready? Or are you content to be a sheep getting shorn?
10% of your net worth gone *poof* just like that. Wait until the wealthy get wind of this.
This is a message that could ignite the real fire under the bitcoin price. There is simply no other suitable protection.
It's worse than just monitoring developments for early warnings. The "right" investors were given direct warnings in order to allow them to get their money out in a timely manner. The vileness of taking peoples' money in this manner aside, that is corruption of the first order. The signs are here, now. Mind you, it's not like they aren't stealing wealth via inflation anyway. Cash is, most definitely, not king.
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samson
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October 18, 2013, 02:02:04 PM |
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We're one whale buy away from breaking the post crash $166.xx high.
When that happens I suspect there will be a frenzy.
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ChartBuddy
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October 18, 2013, 02:02:12 PM |
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thezerg
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October 18, 2013, 02:28:29 PM |
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As evil as high inflation is, it is not an unexpected event given past history in any fiat currency that has a history. But a tax on assets breaks the whole concept of private property. I haven't read the report yet (I plan to) but from the quotes it seems like the report is entirely forgetting the most important thing which is that the feedback loop that rewards success and punishes failure must be preserved. This was my issue with Cyprus bank bail-ins vs. bankruptcy. It is not sufficiently disruptive to cause people (or their intellectual successors -- in other words a whole culture) to be fired. Let's compare the Cyprus disaster with Detroit bankruptcy. In Detroit we have: www.cbsnews.com/8301-201_162-57606936/kwame-kilpatrick-former-detroit-mayor-sentenced-to-28-years-in-prison-for-corruption/"...the sweeping federal probe that has led to the convictions of more than 30 people." A government "default" (or perhaps better stated as "repealing unfunded entitlement promises") and/or high inflation (which points directly at the government) will cause a shift to fiscal responsibility, if anything will. I think we as a society need to learn an important lesson which is essentially that NO promise or fund is safe from subsequent politicians if there is any legal way it can be accessed. Programs like social security, teacher's retirement funds, etc need to be legally and administratively separate (and even that may not be enough, but at least it is worth a try). And all Ponzi systems -- that is, any unfunded promise that expects to be funded by future labor or taxes -- should be not legally binding.
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adamstgBit
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October 18, 2013, 02:37:20 PM |
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OMG look at the wall at Stamps
and here i am buying alts...
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theonewhowaskazu
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October 18, 2013, 02:40:05 PM |
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One thing I've noticed that's slightly interesting is that the dollar spread between Gox and Bitstamp has remained relatively constant while the price has increased, actually decreasing the percentage spread. Not sure if this is just a market inefficiency, or it actually implies more arb is going on.
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Spaceman_Spiff
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October 18, 2013, 02:40:35 PM |
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OMG look at the wall at Stamps
and here i am buying alts...
stamp just said Boom ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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DougTanner
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October 18, 2013, 02:40:58 PM |
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Bitstamp surging to meet Gox's movements. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FD6XeQqB.jpg&t=665&c=YPt3V6pmpTo6FA)
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derpinheimer
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October 18, 2013, 02:41:18 PM |
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OMG look at the wall at Stamps
and here i am buying alts...
What do you mean? That there are no walls there? Now that $150 is gone its no depth rise. I LOL at the dummies who buy after $144 and $150 fall. Herpaderp, lets pay $5 more than we would have if we bought in to that obviously falling wall..
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adamstgBit
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October 18, 2013, 02:51:37 PM |
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this is starting to look parabolic....
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rpietila
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October 18, 2013, 02:52:22 PM |
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10% of your net worth gone *poof* just like that. Wait until the wealthy get wind of this.
I think this is a reasonable tax. It hits the wealth, which is more concentrated than income. It is fairer than inflation, because the rich can avoid inflation by buying hard assets, whereas the poor cannot. The poor need not pay much at all, but would be notified of the destructive policy of gov debt.
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