tadamichi
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武士道
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June 11, 2022, 05:52:32 PM Merited by JayJuanGee (1) |
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“Sideways” means low volatility; the extreme of sideways-ness is price stability.
The theoretically ideal form of money is price-stable. Volatility only benefits traders, at the expense of everyone else.
If BTC could become price-stable,* then I would prefer that. The world cannot run on volatile money alone, nor on deflationary money alone. (Note to Jay: I am perfectly well aware that price-stable BTC will never happen.)
Since I don’t swing-trade, the only thing uncomfortable to me about a sideways market is that I never know whether it’s about to crash, or about to moon.
* I mean price-stable according to an index of goods and services. That means rising against the dollar, as the dollar depreciates from inflation. The dollar is not price-stable; to the contrary, the dollar is a volatile currency. Have you seen dollar prices lately!? Not only the obvious increase in prices, but the fluctuations as markets adapt to price shocks.
What if Goods and Services get priced in Bitcoin one day? We already saw people in failed economies like venezuela abandon their currencies for something harder like the dollar. What if we see this happening on a bigger scale with Bitcoin, because fiat will become so worthless that no one wants to use it anymore, similar to the bolivar. Bitcoin will atleast increase the pressure on fiat to not let get things out of hand that much.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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ChartBuddy
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June 11, 2022, 06:04:59 PM |
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Wilhelm
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June 11, 2022, 06:29:29 PM |
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It's funny how the US is at the top of this list. It's because they have a big ego problem. Euro zone has 8.1% China has 2.1% And many more countries... Imagine actually giving a picture of reality You can be right. But you see, I didn't say it myself, I just spread the word to you. I also gave the news link. There I reported what they were saying. However, I have some mistakes, I had to verify the veracity of this news before. I shared it with you without any verification. I realized my mistake. But I also shared with you what they said. So if they are wrong you can tell them. No problem but I just have a habit of fact checking I'm no better than you... In this age of misinformation I just try to evaluate claims that seem "odd"
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Hueristic
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Doomed to see the future and unable to prevent it
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Had some free time today, so I decided to fire up MATLAB and try to create some BTC/USD polar (a.k.a. spiral) price chart visualizations.
Trying to catch up and not really up to posting but this is a great chart visualization you setup so had to comment. What is the absolute minimum time frame for length to be in profit. Obviously its in between the 2 and 4 year but i'd like to know the exact timeframe as it would be nice to see if it holds as we progress.
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ChartBuddy
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June 11, 2022, 07:04:56 PM |
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Wilhelm
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June 11, 2022, 07:27:45 PM |
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Putin yields incredible power over the United States of America. - He can interfere with its elections and make someone become president.
- He can invoke a "Putin tax" (as Biden calls it) on gas prices at the pump.
- He can cause inflation to reach near 10% all by himself.
BUT he cannot win a war against Ukraine. Weird huh? Russia is good at controlling the data space. Putin just mindfucked himself into thinking his army was prepared and Ukraine wanted to be liberated.
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Hueristic
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Good morning WO. I see we are desperately in need of a new poll.
Any realistic TA which says we will see 40k soon?
Only my gut feeling is saying so…. Does that count as TA? I've found SOMA to be far more accurate than TA.
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ChartBuddy
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June 11, 2022, 08:01:20 PM |
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death_wish
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Take profit in BTC. Account PnL in BTC. BTC=money.
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June 11, 2022, 08:03:48 PM |
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A lot of people use technology but have no clue on how it works. Just like people that can't even tell you where there country is on a globe.
Democracy is based on the principle that people who can’t tell you where their country is on a globe will collectively choose wise, ethical, responsible leaders. Similarly, the free market is based on the principle that economically rational actors will converge en masse on a sensible price. #justsaying Bad news about the dollar: The dollar is crashing! Help! Help! The dollar is hemorrhaging value, suffering its worst inflation since the decade after the Nixon Shock!
It speaks volumes about the decline of basic education.
Although basic education has indeed declined, the idea that any large proportion of people were ever educated shows a deficiency in knowledge of history. The majority of people were never “educated” in any meaningful sense of erudition, nor were the masses ever “literate”. Always and everywhere, in greater or lesser degree, literacy was a privilege of the intellectual elite. It still is. It always will be—not for want of education, but from the nature of the ineducable.
Seriously bro!.. what are you trying to prove?.. how smart you are? how dumb everyone is? we get it!.. you've got a subscription to grammarly and want to maximise the use of it! When I was a schoolboy, I learned early to recognize the stench of jealousy. If I cared at all for your opinion, it would pump my ego; too bad I don’t. every post is always about you you you!... fucking sick of it!...
This forum has an “ignore” function. Please add death_wish to your ignore list: I hate to cast pearls before swine. Thank you.
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LFC_Bitcoin
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#1 VIP Crypto Casino
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June 11, 2022, 08:14:00 PM |
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Wall Street Silver@WallStreetSilv In what alternative universe does this add up to an 8.6% inflation rate? https://twitter.com/wallstreetsilv/status/1535612309762088960?s=21They’re robbing you blind, man. I will buy bitcoin all the way down, IDGAF. Every satoshi you buy now & in the future is the smartest move you will ever make. Do the opposite of what the herd do, the price is down but so what. The smart money does the exact opposite of what the plebs do.
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death_wish
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Take profit in BTC. Account PnL in BTC. BTC=money.
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June 11, 2022, 08:58:59 PM |
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The same universe where the U.S. Dollar has been trusted by anyone anywhere in the world, at any time after the Nixon Shock (or the gold ban and seizure in 1934; was France surprised not to get its gold, after the United States had ripped off the American people for their gold?). The same universe where official CPI inflation was kept at non-terrifying levels around 2008–2013. LOL. Did anyone with two eyes and a brain notice prices at the time? I once saw someone * sum up the way the CPI is calculated as, “Last year, you ate steak; this year, you eat hamburger. Inflation was only 2%, because your beef costs only 2% more.”The way that things are going, instead of beef, you will soon eat bugs. Inflation will stay at only 9%: Your protein will have only 9% YOY increase in price! Now, is anyone here surprised that I distrust the CPI—or that I distrust pricing that is distorted by the pernicious, psychologically deceptive effects of inflation? Adjusted for the dollar’s real-world loss of value, I think that BTC must now be well below its December 2017 peak (never mind 200 WMA). What goods and services could $19k buy in December 2017? What goods and services can $28.5k buy now? * Many years ago. Sorry, I forget who/where. The wording here is mine.
They’re robbing you blind, man. I will buy bitcoin all the way down, IDGAF.
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ChartBuddy
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June 11, 2022, 09:05:00 PM |
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Biodom
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Wall Street Silver@WallStreetSilv In what alternative universe does this add up to an 8.6% inflation rate? https://twitter.com/wallstreetsilv/status/1535612309762088960?s=21They’re robbing you blind, man. I will buy bitcoin all the way down, IDGAF. Every satoshi you buy now & in the future is the smartest move you will ever make. Do the opposite of what the herd do, the price is down but so what. The smart money does the exact opposite of what the plebs do. imho, bitcoin priced in these price increases in 2020-2021 and now it is showing what will happen in 6-12 mo: perhaps a severe recession/depression or at least a significant catastrophic deflation. We already see that stocks are dropping fast (a forward looking indicator). RE to follow, imho.
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Gachapin
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June 11, 2022, 09:22:32 PM |
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On the topic of oil.... I know an "oil guy" , like a legit oil guy, made his fortunes in Oil, and owns a company that does exploration.... like, the guy even in his old age, scuba dives to the bottom of oceans and uses various ships/submersibles etc to aid his research.. pretty fucking nuts.
Annnnnyways, I asked him about about "peak oil" once whilst we were having a piss up... and basically he said that there is no such thing as peak oil, and there is no shortage of oil and there won't be in any of our lifetimes....or our grand children's lifetimes either and likely not their grandkids either or even their great great great grandkids either, and that the world was making new oil all the time, and that basically the whole thing is bullshit that people who do not know, repeat.
Found that kinda interesting.
yup... I think abiotic oil theory is the right way to look at it. ...But that's bad for oil business
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savetherainforest
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June 11, 2022, 09:49:14 PM |
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Wall Street Silver@WallStreetSilv In what alternative universe does this add up to an 8.6% inflation rate? https://twitter.com/wallstreetsilv/status/1535612309762088960?s=21They’re robbing you blind, man. I will buy bitcoin all the way down, IDGAF. Every satoshi you buy now & in the future is the smartest move you will ever make. Do the opposite of what the herd do, the price is down but so what. The smart money does the exact opposite of what the plebs do. THOSE ARE ROOKIE NUMBERS !! PAMP-AP THAT INFLATULATION !!!
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ChartBuddy
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June 11, 2022, 10:01:20 PM |
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danadc
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June 11, 2022, 10:18:29 PM Merited by JayJuanGee (1) |
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I am a very fan of Snowden, especially or what he did, although his statements about BTC do not like this time, he wants more privacy, but does not understand that BTC goes far beyond privacy. Bitcoin “Is Failing as an Electronic Cash System”: Edward SnowdenEdward Snowden has said that he is "very much a fan" of Bitcoin, but he thinks that its lack of privacy could mean it fails in the long term. The American whistleblower said that there are multiple crypto assets that can be thought of as money akin to gold rather than currencies. He added that he thinks competition between cryptocurrencies is a net positive for the world. Source: https://cryptobriefing.com/bitcoin-failing-electronic-cash-edward-snowden/?utm_source=feed&utm_medium=rssI think everyone is looking for is focusing more on payments, Fiat money and do not see the complete potential that BTC represents.
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Gachapin
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June 11, 2022, 10:55:47 PM |
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Edward Snowden has said that he is "very much a fan" of Bitcoin, but he thinks that its lack of privacy could mean it fails in the long term. The American whistleblower said that there are multiple crypto assets that can be thought of as money akin to gold rather than currencies. He added that he thinks competition between cryptocurrencies is a net positive for the world. competition? Between POS shitcoins.... Yes. But POW competition to Bitcoin... nothing that I can see (especially when that mETH lab blows up, soon)
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empowering
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June 11, 2022, 11:03:40 PM Merited by death_wish (1) |
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Edward Snowden has said that he is "very much a fan" of Bitcoin, but he thinks that its lack of privacy could mean it fails in the long term. The American whistleblower said that there are multiple crypto assets that can be thought of as money akin to gold rather than currencies. He added that he thinks competition between cryptocurrencies is a net positive for the world. competition? Between POS shitcoins.... Yes. But POW competition to Bitcoin... nothing that I can see (especially when that mETH lab blows up, soon) He also warned of the dangers of the financialization of the crypto industry. He said that the space was becoming increasingly divided “because of the financialization of cryptocurrency” and hinted that he thinks users are not focusing enough on the technology itself. “[Users are] not thinking primarily about what are the networks that are going to serve us for 100 years for transferring value,” he said. *“ I am worried about a world in which our money is used against us.” Snowden said that he hopes to see people get access to “free money in the independence sense.” In what could be interpreted as an endorsement of the broader crypto ecosystem rather than any one specific asset, he suggested that having multiple assets that could act as money was a good thing for the world. “I think the more competition we have there, then all the better,” he said. ...and he is not wrong, this is what I think too. ...would be better rephrased as "having multiple assets that could act as money was would be a good thing for the world" ....and he is right about the privacy thing also in a way. * (he/we already live(s) in that world)
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ChartBuddy
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June 11, 2022, 11:04:54 PM |
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