abercrombie
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November 15, 2014, 05:40:26 PM |
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Looks like a mini bubble of december 2013 imo
Yea, Nov 9th to Nov 15 looks like a Alt coin pump and dump.
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podyx
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November 15, 2014, 05:41:38 PM |
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Looks like a mini bubble of december 2013 imo
Yea, Nov 9th to Nov 15 looks like a Alt coin pump and dump. So what does one make of this??
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N12
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November 15, 2014, 05:42:17 PM |
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...snip...
Blitz, you realise the Shroomskit account is used by (and this is an IIRC from a Shroomskit post months back) four different people (shared house? company) -- which explains the lack of consistency and distinct personality changes in posts every few days/hours. And none of them give a fuck about what the others post. So, keep posting this is a bit like posting Parashat ha-Shavua to prove the Pope is Catholic. Save your time/bandwidth. He's lying to hide his shame. Just have a look at his writing styles/personas and you'll see they're consistent.
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podyx
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November 15, 2014, 05:46:26 PM |
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Kinda looks like we'll be going further down right?
Can you imagine $330 again? That would be sick..
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johnyj
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Beyond Imagination
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November 15, 2014, 05:53:17 PM |
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In a steady-state system, the price of a monetary asset is given by the "quantity theory of money", which states that:
P x Q = M x V, where P is the price of the goods - so the price of the monetary asset is its inverse: B = 1 / P
B = 1/P = Q / (M x V)
Q is the amount of goods bought by the monetary asset, M is the amount of monetary asset in circulation, and V is the average velocity (the number of times per year that a given bitcoin is used to buy something).
V is the inverse of T, the (harmonic) average holding time of a bitcoin: the number of years a bitcoin is held as store of value.
So the "end value" in steady state of a bitcoin will ultimately depend on two things: how much stuff is bought using bitcoin, and how long one holds one's bitcoins.
This theory is too simplified, and has many flaws, thus not used by bitcoin community 1. The formula only works when there is only one currency If there are multiple currencies in circulation, that will become PQ=m1v1+m2v2+m3v3+... Because bitcoin is only one small currency in circulation, you can not use the formula to calculate its price since you don't know how much goods are exclusively sold for bitcoin (maybe none) 2. Not all the money has the same circulation speed For a given amount of dollar, the V for each dollar is different, impossible to use this model to calculate anything. For example, FED has created 6x more money since 2008, but majority of those money has a velocity of 0 (hold at FED as reserve), thus removed from circulation 3. The P in the formula usually don't include capital goods (for example MBS or bitcoin), which consists of majority of today's money flow. When capital goods enter the formula, the calculation will be totally changed and the price level of daily goods will become irrelevant For bitcoin, there is one simple method to calculate its value: The mining cost. Mining cost is the lowest possible cost to get bitcoin, it is the baseline for its valuation
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podyx
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November 15, 2014, 05:55:43 PM |
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I fail to see how $370 is not a great price right now Sure, we were at $360 2 days ago but we've had retracements before we got there and it really looks like we are entering a bull market right now. Why is nobody buying
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lyth0s
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World Class Cryptonaire
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November 15, 2014, 05:57:15 PM |
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I fail to see how $370 is not a great price right now Sure, we were at $360 2 days ago but we've had retracements before we got there and it really looks like we are entering a bull market right now. Why is nobody buying Funny that you say that, my weekly auto-buy just occurred.
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LFC_Bitcoin
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#1 VIP Crypto Casino
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November 15, 2014, 05:58:13 PM |
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I fail to see how $370 is not a great price right now Sure, we were at $360 2 days ago but we've had retracements before we got there and it really looks like we are entering a bull market right now. Why is nobody buying In theory this 'should' be a bull market as the price has dropped. 'Dem cheap coinz' Etc etc but......we just seem to be slipping down further, there's no sign of an upwards reversal.
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NotLambchop
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November 15, 2014, 05:58:50 PM |
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Is bitcoin the mark of the beast? The permabulls make me think it's possible: anyone who does not worship the beast or its image would be killed. Also: causes all people to receive the mark of the beast in their right hand or in their forehead. ... Confirmed a long time ago.
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Erdogan
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Activity: 1512
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November 15, 2014, 05:59:29 PM |
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In a steady-state system, the price of a monetary asset is given by the "quantity theory of money", which states that:
P x Q = M x V, where P is the price of the goods - so the price of the monetary asset is its inverse: B = 1 / P
B = 1/P = Q / (M x V)
Q is the amount of goods bought by the monetary asset, M is the amount of monetary asset in circulation, and V is the average velocity (the number of times per year that a given bitcoin is used to buy something).
V is the inverse of T, the (harmonic) average holding time of a bitcoin: the number of years a bitcoin is held as store of value.
So the "end value" in steady state of a bitcoin will ultimately depend on two things: how much stuff is bought using bitcoin, and how long one holds one's bitcoins.
This theory is too simplified, and has many flaws, thus not used by bitcoin community 1. The formula only works when there is only one currency If there are multiple currencies in circulation, that will become PQ=m1v1+m2v2+m3v3+... Because bitcoin is only one small currency in circulation, you can not use the formula to calculate its price since you don't know how much goods are exclusively sold for bitcoin (maybe none) 2. Not all the money has the same circulation speed For a given amount of dollar, the V for each dollar is different, impossible to use this model to calculate anything. For example, FED has created 6x more money since 2008, but majority of those money has a velocity of 0 (hold at FED as reserve), thus removed from circulation 3. The P in the formula usually don't include capital goods (for example MBS or bitcoin), which consists of majority of today's money flow. When capital goods enter the formula, the calculation will be totally changed and the price level of daily goods will become irrelevant For bitcoin, there is one simple method to calculate its value: The mining cost. Mining cost is the lowest possible cost to get bitcoin, it is the baseline for its valuation Which is also wrong, the mining cost follows the value. Lower price, lower mining cost, on the long time scale.
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podyx
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Activity: 2338
Merit: 1035
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November 15, 2014, 05:59:33 PM |
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I fail to see how $370 is not a great price right now Sure, we were at $360 2 days ago but we've had retracements before we got there and it really looks like we are entering a bull market right now. Why is nobody buying In theory this 'should' be a bull market as the price has dropped. 'Dem cheap coinz' Etc etc but......we just seem to be slipping down further, there's no sign of an upwards reversal. Yea.. I guess the fact that we have more volume then ever on a, what looks like to be a reversal, is pretty bearish...
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NotLambchop
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November 15, 2014, 06:01:01 PM |
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...we just seem to be slipping down further, there's no sign of an upwards reversal.
So... Dance party?
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ChartBuddy
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Online
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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November 15, 2014, 06:01:21 PM |
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Wandererfromthenorth
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November 15, 2014, 06:03:00 PM |
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...snip...
Blitz, you realise the Shroomskit account is used by (and this is an IIRC from a Shroomskit post months back) four different people (shared house? company) -- which explains the lack of consistency and distinct personality changes in posts every few days/hours. And none of them give a fuck about what the others post. So, keep posting this is a bit like posting Parashat ha-Shavua to prove the Pope is Catholic. Save your time/bandwidth. He's lying to hide his shame. Just have a look at his writing styles/personas and you'll see they're consistent. Of course it's always the same person. He is exactly what you would call a troll, 100%. I think I have seen like a dozen of his personalities in this thread, but it's clear is always him.
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podyx
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November 15, 2014, 06:04:03 PM |
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Yup, heading up for a while now
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LFC_Bitcoin
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November 15, 2014, 06:04:33 PM |
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You must be on something. Wrong price charts all day.
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Bagatell
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November 15, 2014, 06:07:33 PM |
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You must be on something. Wrong price charts all day. You're talking to a bot. No wonder you missed that big green candle on Wednesday.
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empowering
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Activity: 1078
Merit: 1441
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November 15, 2014, 06:09:40 PM |
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I fail to see how $370 is not a great price right now Sure, we were at $360 2 days ago but we've had retracements before we got there and it really looks like we are entering a bull market right now. Why is nobody buying In theory this 'should' be a bull market as the price has dropped. 'Dem cheap coinz' Etc etc but......we just seem to be slipping down further, there's no sign of an upwards reversal. Yea.. I guess the fact that we have more volume then ever on a, what looks like to be a reversal, is pretty bearish... What occurred with your margin call on Okcoin? Was it because your collateral was BTC? (just out of interest)
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Wandererfromthenorth
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November 15, 2014, 06:11:41 PM Last edit: November 16, 2014, 03:13:52 PM by Wandererfromthenorth |
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Put on your seatbelts folks!
For all we know, the volume might just mostly be china fake volume.
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