HairyMaclairy
Legendary
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Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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September 30, 2018, 11:48:28 AM |
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I haven't done the full Math on this, but isn't that a back and forth kind of game (due to the presence of traders and speculators)?
Correlation vs Causation. This is the Captain speaking. If there is a statistician on board, please press the call attendant button to identify yourself to the cabin crew. From that perspective you can spin the argument up from both sides. The price is a result of the difficulty, as it dictates the supply. The cause that you speak of can be arbitrarily picked here. (Infinite difficulty = no coins = no price, hence the presence of a difficulty creates a price) Except this isn’t really accurate. Difficulty adjusts both up and down. With a low enough difficulty I can run the entire Bitcoin network on my 2009 laptop. Any decrease in supply due to a rapid decrease in hashrate is inconsequential on a multi year time line.
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BTCMILLIONAIRE
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September 30, 2018, 11:58:40 AM |
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I haven't done the full Math on this, but isn't that a back and forth kind of game (due to the presence of traders and speculators)?
Correlation vs Causation. This is the Captain speaking. If there is a statistician on board, please press the call attendant button to identify yourself to the cabin crew. From that perspective you can spin the argument up from both sides. The price is a result of the difficulty, as it dictates the supply. The cause that you speak of can be arbitrarily picked here. (Infinite difficulty = no coins = no price, hence the presence of a difficulty creates a price) Except this isn’t really accurate. Difficulty adjusts both up and down. With a low enough difficulty I can run the entire Bitcoin network on my 2009 laptop. Any decrease in supply due to a rapid decrease in hashrate is inconsequential on a multi year time line. I should've clarified that I meant the initial difficulty for the genesis block. A difficulty so high that no coins can be mined results in no coins and thus no price, and a difficulty so low that arbitrarily many coins can be mined by anyone would result in a price of zero. Hence, the difficulty came first, and the price came after. Even without these edge cases, you need to mine coins first before any price can be set though. Alas, you can spin this up either way by including or excluding exotic scenarios.
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Globb0
Legendary
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Activity: 2688
Merit: 2053
Free spirit
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Nice growler
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Ted E. Bare
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September 30, 2018, 01:49:19 PM |
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She's in your avatar. Cool!
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kirreev070
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September 30, 2018, 01:49:57 PM |
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DPRating compiled a rating of centralized crypto-exchanges based on the ratio of trading volume and users to IP.
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sirazimuth
Legendary
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Activity: 3486
Merit: 3576
born once atheist
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September 30, 2018, 01:55:07 PM |
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the being formerly known as Last of the V8s I am LA you may refer to me as LA the Legendary a legendary promotion after the merit system implemented <respect> welcome aboard mate
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d_eddie
Legendary
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Activity: 2632
Merit: 3429
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September 30, 2018, 02:29:40 PM Merited by JayJuanGee (1) |
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DPRating compiled a rating of centralized crypto-exchanges based on the ratio of trading volume and users to IP. Y U no Bitstamp?
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d_eddie
Legendary
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Activity: 2632
Merit: 3429
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September 30, 2018, 02:32:21 PM |
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the being formerly known as Last of the V8s I am LA you may refer to me as LA the Legendary The precious bits of info you managed to dig out made you a legend already. Not to mention the very fne ladies portrayed in some of your most memorable posts. Way to go!
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Torque
Legendary
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Activity: 3696
Merit: 5269
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September 30, 2018, 02:36:21 PM |
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In all trading markets, there is no more true price or value discovery based on supply/demand anymore.
There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.
That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).
So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?
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xhomerx10
Legendary
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Activity: 3976
Merit: 8623
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September 30, 2018, 02:36:52 PM |
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Much more boring man.... but on my way for a very late breakfast (hope its not gonna be the headlight of this sunday) Ok so its the highlight of today oldschool breakfast and a small pump Man do i love these moment and this f****** sunday place via Imgflip Meme GeneratorKeep on pumping into october ,hairry Said its a rally month so i’m ready to go Jesus Mic! Based on what I'm seeing I hope you only eat one meal per day!
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BTCMILLIONAIRE
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September 30, 2018, 02:53:15 PM |
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In all trading markets, there is no more true price or value discovery based on supply/demand anymore.
There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.
That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).
So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?
Is there even a real narrative in the MSM? I don't think I've really read any article that was relevant or even interesting. Always hype or doom with some fluff that is quite often just flat out wrong. Seems like the only thing they're good for are figuring out when to dump a few coins or buy some more.
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El duderino_
Legendary
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Activity: 2646
Merit: 12932
BTC + Crossfit, living life.
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September 30, 2018, 02:59:49 PM |
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Much more boring man.... but on my way for a very late breakfast (hope its not gonna be the headlight of this sunday) Ok so its the highlight of today oldschool breakfast and a small pump Man do i love these moment and this f****** sunday place via Imgflip Meme GeneratorKeep on pumping into october ,hairry Said its a rally month so i’m ready to go Jesus Mic! Based on what I'm seeing I hope you only eat one meal per day! btc'ers always have a big appetite as for DIPS as for food as for alcohols as for women etc
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El duderino_
Legendary
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Activity: 2646
Merit: 12932
BTC + Crossfit, living life.
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September 30, 2018, 03:23:09 PM Merited by LFC_Bitcoin (1) |
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The first ever crypto bank opening in October in Zurich, Switzerland. 👍🇨🇭 #bitcoin gogo
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El duderino_
Legendary
Offline
Activity: 2646
Merit: 12932
BTC + Crossfit, living life.
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September 30, 2018, 03:46:26 PM |
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God I wish XRP would just go away already.
Major fucking smug-storm brewing on Twitter.
back on 2 and even shouldn't be in TOP 100 but yeah there will always be flaws (yeah to much XRP posts and reads everywhere, it will vanish)
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taratorly
Member
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Activity: 258
Merit: 10
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September 30, 2018, 03:47:26 PM |
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The first ever crypto bank opening in October in Zurich, Switzerland. 👍🇨🇭 #bitcoin gogo It is an incredible development. Zurich is the important place for money world. I hope it will be good.
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Torque
Legendary
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Activity: 3696
Merit: 5269
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September 30, 2018, 03:55:52 PM Last edit: September 30, 2018, 04:29:42 PM by Torque |
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In all trading markets, there is no more true price or value discovery based on supply/demand anymore.
There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.
That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).
So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?
Is there even a real narrative in the MSM? I don't think I've really read any article that was relevant or even interesting. Always hype or doom with some fluff that is quite often just flat out wrong. Seems like the only thing they're good for are figuring out when to dump a few coins or buy some more. I've long theorized that the MSM "narrative" for Bitcoin has always been and always will be negative, primarily for two reasons: 1. Wallstreet doesn't own 90%+ of all bitcoin (like they do with tech stocks), never will, therefore they don't want to promote it (i.e., they can't game the system therefore they are disinterested anyway). 2. The whales that are interested in the Bitcoin market don't want Average Joe to find and buy the bottom. If they can keep up the negative narrative around Bitcoin, they can say "Stay away, there is no good time to buy!". They only want the public to buy the next ATH in the last few weeks and be bag holders.
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jojo69
Legendary
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Activity: 3290
Merit: 4534
diamond-handed zealot
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September 30, 2018, 04:14:34 PM |
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you may refer to me as LA the Legendary
A hearty congratulations sir. Long awaited and well deserved. Huzzah!
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LFC_Bitcoin
Legendary
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Activity: 3668
Merit: 10243
#1 VIP Crypto Casino
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September 30, 2018, 04:21:40 PM |
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I couldn't help but notice the distinct lack of a ring on a particular finger. As your attorney, I advise you to take a hit out of the little brown bottle in my shaving kit. You won't need much, just a tiny taste. Then, put a ring on that finger. Yeah come on mic, time to get down on one knee Saying that, I’ve been with my girl 10 years now & she has no ring on her finger too
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Torque
Legendary
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Activity: 3696
Merit: 5269
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September 30, 2018, 04:30:40 PM Merited by BobLawblaw (2) |
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I couldn't help but notice the distinct lack of a ring on a particular finger. As your attorney, I advise you to take a hit out of the little brown bottle in my shaving kit. You won't need much, just a tiny taste. Then, put a ring on that finger. Right after getting a prenup.
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realr0ach
Sr. Member
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Activity: 924
Merit: 311
#TheGoyimKnow
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September 30, 2018, 04:32:59 PM |
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In all trading markets, there is no more true price or value discovery based on supply/demand anymore. There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.
The roundtable groups formed a club to rig all markets and they do so through the ESF and trading desks at places like the squid and JP Morgan. So it is not that there is no market, it's that all the billionaires are colluding together on the same team. In practice it's like having one single whale with almost infinite money vs a bunch of minnows. Even good traders can make mistakes and lose everything, which they know, so they created a rigged system in order to try and keep themselves in power forever. Anyone familiar with cryptocurrency technicals can spot that this is an obvious fragile, closed entropy system that's doomed to catastrophically collapse. Or how I already explained things they do before: In the GATA archives for metals, it was admitted by the govt that they try to introduce volatility into the metals market using the ESF in order to make them look like a less stable store of value so they can pretend the dollar is somehow more stable. The ESF itself might even be running the bitcoin pump and dumps doing the same thing here. Create bubbles then catastrophic collapses over and over ad infinity...in everything...then you pretend the dollar is stable. Meanwhile, they literally hand out a blueprint of when and where the pump and dumps will occur to a select few oligarchs to make sure they can continuously stay in power and never lose a bet.
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