Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Walsoraj]

(By the way, some bitcoiners seem to be trying to convince people to adopt bitcoin by telling them that money sucks.  I sense a problem with that marketing strategy: it seems that many people have used money sometime in their lives, and may even have enjoyed the experience -- unlikely as that may sound.  )

All of this leads me to the conclusion that Ripple is the future of cryptocurrency. In fact, I am currently in the process of selling all of my assets to invest solely in XRP.

Jorge, thanks for your thoughtful comments. I'm bullish on Ripple too, but I wouldn't recommend anyone invest more than 50% of their net worth. Ripple is not a get-rich-quick scheme like bitcoin. It might take 6 months to a year before the first mega-bubble. Be smart and patient.

The last paragraph in my quote above is not mine, of course; it was inserted by @walsoraj.

A weird sense of humor, or the desperation of a bag-holder?  

But it is true: I did sell all my BTC to invest in XRP, months ago.  And I have been doubling my XRP holdings every day since then, as I did before with BTC.

Considering I am one of your alt accounts, technically you wrote it.

Not a bag holder. Just trying to help.

I can only imagine how much xrp you now have considering you were long suspected to be The Great Manipulator with tens of thousnds of btc.

[byronbb]

(By the way, some bitcoiners seem to be trying to convince people to adopt bitcoin by telling them that money sucks.  I sense a problem with that marketing strategy: it seems that many people have used money sometime in their lives, and may even have enjoyed the experience -- unlikely as that may sound.  )

I hear in Argentina, Argentines think the peso SUCKS.

[sidhujag]

He prob had 0.1 btc donated to him from a bull to a bear and bought ripple with that.... I dont think ripple is the key to success so sadly we prob wont hear from him when btc rises

[solex]

(By the way, some bitcoiners seem to be trying to convince people to adopt bitcoin by telling them that money sucks.  I sense a problem with that marketing strategy: it seems that many people have used money sometime in their lives, and may even have enjoyed the experience -- unlikely as that may sound.  )

I hear in Argentina, Argentines think the peso SUCKS.

Yeah. Seeing this annoys some Argentines.

[JorgeStolfi]

If anyone is telling you money sucks, they are sure right about this junk. Fortunately, I never had to use it, and really pity any poor soul who had to.

I used those, and several other versions of the currency, each defined as 1000 of the previous unit.  IIRC, at one point inflation got to 40% per month [ sic ].

But guess what, the economy kept working in spite of that.  badly, of course, but it did.  Sorry if that disappoints some, but civilization did not collapse.

And people did not get utterly ruined.  No sane person "invests" in cash; when the inflation gets too high, banks will offer inflation-corrected savings and investment funds, that allow fast deposit and withdrawal at any time.

Inflation, like salt on food, is good in small doses, disastrous otherwise.  It must be just big enough to dissuade people from hoarding the currency.  Inflation of 5% per year requires adjustments in salaries and prices, each year or every 6 months, and must be explicitly taken into account in planning or contracts spanning many months.  Beyond that, inflation begins to be a real pain: prices and salaries have to be adjusted all the time, people must rush to invest the salary, etc.

[ChartBuddy]

Explanation

[JorgeStolfi]

The last paragraph in my quote above is not mine, of course; it was inserted by @walsoraj.

A weird sense of humor, or the desperation of a bag-holder?  

But it is true: I did sell all my BTC to invest in XRP, months ago.  And I have been doubling my XRP holdings every day since then, as I did before with BTC.

Considering I am one of your alt accounts, technically you wrote it.

Not a bag holder. Just trying to help.

I can only imagine how much xrp you now have considering you were long suspected to be The Great Manipulator with tens of thousnds of btc.

Sorry about that, sometimes my other personalities get on my nerves.  Never mind.

My holdings are easy to compute: I learned about bitcoin ~350 days ago, and I have been doubling my hoard every day since then. 

I am not the Great Manipulator, of course.  Watashi-wa Nakamoto Satoshi-san desu, but don't tell that to anyone.

[MrPiggles]

The last paragraph in my quote above is not mine, of course; it was inserted by @walsoraj.

A weird sense of humor, or the desperation of a bag-holder?  

But it is true: I did sell all my BTC to invest in XRP, months ago.  And I have been doubling my XRP holdings every day since then, as I did before with BTC.

Considering I am one of your alt accounts, technically you wrote it.

Not a bag holder. Just trying to help.

I can only imagine how much xrp you now have considering you were long suspected to be The Great Manipulator with tens of thousnds of btc.

Sorry about that, sometimes my other personalities get on my nerves.  Never mind.

My holdings are easy to compute: I learned about bitcoin ~350 days ago, and I have been doubling my hoard every day since then.  

I am not the Great Manipulator, of course.  Watashi-wa Nakamoto Satoshi-san desu, but don't tell that to anyone.

if you started with 1 btc 30 days ago and doubled every day you'd have 1,073,741,839 bitcoin by now.

If you started 350 days ago I really can't be arsed to calculate it, but either way you're clearly full of shit even if you only started with 0.01 btc or a few satoshis.

http://www.al6400.com/blog/2006/07/10/a-penny-doubled-everyday/

[solex]

I used those, and several other versions of the currency, each defined as 1000 of the previous unit.

x1000, then x1000, then x100, for the full story.

But guess what, the economy kept working in spite of that.  badly, of course, but it did.  Sorry if that disappoints some, but civilization did not collapse.
And people did not get utterly ruined.  No sane person "invests" in cash;

(my bold)
The primary purpose of money is a store of value, so that it can proxy for products and services in commerce. It must retain value over time to properly function. If it doesn't then the whole economy is badly distorted, made inefficient.

when the inflation gets too high, banks will offer inflation-corrected savings and investment funds, that allow fast deposit and withdrawal at any time.

You know, of course, about the horrendous corallito, and how the banks ruined thousands of savers. This has been practiced in many countries, not just Argentina and Cyprus. Also, investment (pension) funds have been raided in numerous countries, like Hungary and France, in recent years.

Inflation, like salt on food, is good in small doses, disastrous otherwise.  It must be just big enough to dissuade people from hoarding the currency.  Inflation of 5% per year requires adjustments in salaries and prices, each year or every 6 months, and must be explicitly taken into account in planning or contracts spanning many months.  Beyond that, inflation begins to be a real pain: prices and salaries have to be adjusted all the time, people must rush to invest the salary, etc.

Hoarding is simply the same as saving. Savings are what makes capitalism a viable economic model. Inflation is a stealth tax from those who have last use of new money (the poor, middle class) to the pockets of those who have first use of new money (the banks, wealthy, government).

[MrPiggles]

for a maths professor jorge isn't very good at maths, lol

[marcus_of_augustus]

Crap money is ok for crap countries, in fact it almost defines them. All the observational evidence strongly points towards sound money as being a necessary condition for prosperity, especially over long time frames.

Jorge and ripple seem like a good match but in the long run they might both be dead.

[justusranvier]

Jorge and ripple seem like a good match but in the long run they might both be dead.

I see what you did there.

[octaft]

I am beginning to wonder if I was wrong about Jorge not being a troll...

[dropt]

If you started 350 days ago I really can't be arsed to calculate it, but either way you're clearly full of shit even if you only started with 0.01 btc or a few satoshis.

Which obviously means he has 0BTC.  Pretty easy to double 0BTC everyday now ain't it. 

[MrPiggles]

I am beginning to wonder if I was wrong about Jorge not being a troll...

I've been calling him a troll for some time

If you started 350 days ago I really can't be arsed to calculate it, but either way you're clearly full of shit even if you only started with 0.01 btc or a few satoshis.

Which obviously means he has 0BTC.  Pretty easy to double 0BTC everyday now ain't it.  

Yeah, but is it possible to sell 0 btc to buy 0 xrp?

Pretty sure that just makes him full of shit, if he's claiming to have something and double it daily but really has zero, it's not clever semantics, it's bullshit.

[octaft]

I am beginning to wonder if I was wrong about Jorge not being a troll...

I've been calling him a troll for some time

If you started 350 days ago I really can't be arsed to calculate it, but either way you're clearly full of shit even if you only started with 0.01 btc or a few satoshis.

Which obviously means he has 0BTC.  Pretty easy to double 0BTC everyday now ain't it.  

Yeah, but is it possible to sell 0 btc to buy 0 xrp?

Pretty sure that just makes him full of shit, if he's claiming to have something and double it daily but really has zero, it's not clever semantics, it's bullshit.

Well he is definitely trolling now, of course, I'm just wondering if he's always trolling or just trying his hand at it for a bit.

[noobtrader]

price is moving   

[ChartBuddy]

Explanation

[solex]

Well he is definitely trolling now, of course, I'm just wondering if he's always trolling or just trying his hand at it for a bit.

Think of it like the journey of Anakin Skywalker, way back, starting off with an open mind, but soon began an ever deeper descent into the troll-side of the farce.

[marcus_of_augustus]

Well he is definitely trolling now, of course, I'm just wondering if he's always trolling or just trying his hand at it for a bit.

Think of it like the journey of Anakin Skywalker, way back, starting off with an open mind, but soon began an ever deeper descent into the troll-side of the farce.

  ...
in that one the farce is strong,
mastered the dark arts of the subtle FUD has he.