ChartBuddy
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Activity: 2184
Merit: 1778
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 29, 2014, 10:00:34 AM |
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wachtwoord
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Activity: 2324
Merit: 1125
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May 29, 2014, 10:34:54 AM |
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I present the Matroska Cup & Handle pattern:  $1000 bitcoin party around October... see you there  EDIT: which, by the way, has worked before very well: can there be a cup & handle inside a cup & handle ?  This is a pretty interesting pattern. So you're speculating at this point that we still won't reach our previous ATH this year? Very imaginative  |
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oda.krell
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Activity: 1470
Merit: 1007
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May 29, 2014, 10:46:12 AM |
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Eh, sorry to rain on your parade guys, but in all honesty, the entire "should we talk abot bit or ubit or mBTC" discussion only matter if Bitcoin ever becomes a unit of account. And frankly, I don't see that happening for a long time yet. (I mean it: long time. A human generation, maybe).
And for the other aspects, exchange medium, store of wealth, it doesn't matter one bit (hur hur) what it's called... gold bugs had to wrap their head around the rather impractical 'ounces' for a while, and that never stopped adoption either.
What I'm saying is, discuss away how to call the fractions of a coin, but I tend to think, it won't matter either way.
*emphasis mine bitcoin was born as a unit of account, it's actually the core function. simply an open ledger of accounting (that cannot be changed, by anyone, as far as we know) but I'm guessing that you're using the term "unit of account" to mean "global reserve currency" and in that case you're right, 10-15 years at least... I think? I told him already. He doesn't believe me. I think he understands bitcoin pretty much as well as I do. We may differ on some finer point, and when we do, I start to worry a little bit... I guess that's why I posted that. No, I understood your (and wachtwoord's) point just fine. I'll try to sharpen mine: Quote WP: "... unit of account allows meaningful interpretation of prices, costs, and profits" I understand that, in principle, our little distributed global ledger could serve as a brilliantly useful unit of account. Many of the necessary aspects (transparent, tamper proof) are there. But to allow a "meaningful interpretation of prices/costs", you cannot -- for now -- go through the ledger alone. You will need another point of reference (commonly: USD), if the time horizon is longer than a few seconds. We probably agree that Bitcoin has the potential to become maybe /the/ unit of account eventually, but for as long as price swings wildly (and, despite what some claim, largely unpredictably on a long enough time span), it is not an actually usable unit of account without reference to another (more stable) asset. |
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ChartBuddy
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Activity: 2184
Merit: 1778
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 29, 2014, 11:00:34 AM |
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ShroomsKit
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May 29, 2014, 11:02:38 AM |
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We're moving the wrong way. Can someone please tell these people.
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wachtwoord
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Activity: 2324
Merit: 1125
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May 29, 2014, 11:04:49 AM |
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We're moving the wrong way. Can someone please tell these people.
Someone misconfigured Willy. Someone call Mark! |
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freebit13
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May 29, 2014, 11:36:05 AM |
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Only testing the support at 555, nothing to see here...
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lemonte
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May 29, 2014, 11:37:59 AM |
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We're moving the wrong way. Can someone please tell these people.
Someone misconfigured Willy. Someone call Mark! Doubt Mark has seen his willy in a long time. |
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GreekGeek
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May 29, 2014, 11:42:48 AM |
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hey guys
can someone provide any link with news about the FB bit-tip please?
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TERA
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May 29, 2014, 11:45:39 AM |
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Here is a bullish and a bearish possibility moving forward, though I am no longer placing bets on the downside as it is too risky at this point, even if that case were to materialize.  |
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KFR
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May 29, 2014, 11:51:18 AM |
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oda.krell
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May 29, 2014, 11:51:27 AM |
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Here is a bullish and a bearish possibility moving forward, though I am no longer placing bets on the downside as it is too risky at this point, even if that case were to materialize. Welcome back. Hope you didn't miss the train up... it was a pretty sweet ride (for a while). |
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wachtwoord
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Merit: 1125
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May 29, 2014, 11:53:18 AM |
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You draw the super-exponential rise in September.
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TERA
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May 29, 2014, 11:55:38 AM |
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I present the Matroska Cup & Handle pattern: $1000 bitcoin party around October... see you there EDIT: which, by the way, has worked before very well: can there be a cup & handle inside a cup & handle ? This is a pretty interesting pattern. So you're speculating at this point that we still won't reach our previous ATH this year? Very imaginative  |
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TERA
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May 29, 2014, 11:56:52 AM |
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Welcome back. Hope you didn't miss the train up... it was a pretty sweet ride (for a while).
Stop loss at $460. |
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oda.krell
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May 29, 2014, 11:59:44 AM |
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Welcome back. Hope you didn't miss the train up... it was a pretty sweet ride (for a while).
Stop loss at $460. Hope shroomskit doesn't see it. He lives on bear tears, whether they actually cried or not. |
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ChartBuddy
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May 29, 2014, 12:00:34 PM |
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CoinHamster
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Activity: 101
Merit: 10
฿ ฿ ฿ ฿ ฿
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May 29, 2014, 12:02:11 PM |
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Hmm, looks to me that the foolish playing around 3500 on Houbi will soon be finished.
30min SAR will change.
4h and 30min RSI on stamp are ready.
fasten seatbelt
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