ejinte
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November 16, 2014, 02:36:41 PM |
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370s in 3 ... 2 ... 1... Not looking too promising, gentlemen Look at the orderbook
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NotLambchop
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November 16, 2014, 02:38:35 PM |
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370s in 3 ... 2 ... 1... Not looking too promising, gentlemen Look at the orderbook Dropped 8 bucks on no volume, so... yeah.
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noobtrader
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November 16, 2014, 02:42:39 PM |
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370s in 3 ... 2 ... 1... Not looking too promising, gentlemen Look at the orderbook Dropped 8 bucks on no volume, so... yeah. touching support... hmmm bitcoin is critical within 24 hours
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Unpredictable
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November 16, 2014, 02:45:43 PM |
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It doesn't matter because I'm still : I'm even buying more.
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alexeft
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November 16, 2014, 02:46:30 PM |
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Cup and handle forming on the 4h chart?
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LFC_Bitcoin
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#1 VIP Crypto Casino
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November 16, 2014, 02:48:01 PM |
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370s in 3 ... 2 ... 1... Not looking too promising, gentlemen What a loser!
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noobtrader
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November 16, 2014, 02:49:41 PM |
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Cup and handle forming on the 4h chart? 3 minute chart at bitfinex
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NotLambchop
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November 16, 2014, 02:53:11 PM |
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370s in 3 ... 2 ... 1... Not looking too promising, gentlemen What a loser! Stay stubborn, angry and poor
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alexeft
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November 16, 2014, 02:54:14 PM |
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Cup and handle forming on the 4h chart? 3 minute chart at bitfinex What is there to see on the 3 minute chart other than noise?
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Erdogan
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November 16, 2014, 02:56:35 PM |
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Fiat is designed to lose value, 2 percent in some countries, 2 1/2 in others. Bitcoin not.
Bitcoin too, until the year 2150 or something ! Although you are right that bitcoin has monetary mass inflation until then, while many central banks have price inflation targets. The difference between both is (at constant velocity) given by economic growth. The store of value aspect and the transaction medium aspect of money hangs together, you can not have only the one or only the other. So when you hold, you need to be sure that you can transact. But the volume of transactions that occurs is irrelevant.
I think we're in a chicken and egg problem. Of course, volume can be small, and value (per coin) large, if velocity is small (if most coins are held a very very long time). In that case, you are right, volume doesn't matter much, my formula doesn't matter much, and we are more in a "store of value" problem, and the market share of the aggregate demand for store of value. On the other hand, if bitcoin is mainly a means of payment, then the demand will essentially be to have "bitcoins to pay with", and the inherent time they are held between obtaining them and spending them, is then more described by my formula. We are then in a market that is essentially driven as "monetary asset" (to buy stuff with). In reality both will play. But my personal opinion is that the latter will be more important in the medium term (the coming decade say) than the pure store of value. As someone else said, that's not a problem because for the moment, speculation "to the moon" is the driver. But that driver will not - in my opinion - hold on for 10 more years without any fundamental driving it, and only a (pipe?) dream in the far future going for it. This is why commercial adoption is so important, and it has to become a significant part of the demand if bitcoin is to go somewhere (to the moon). Holding today means speculation that a large number of people will discover the same thing. I think they will, and one of the reasons it goes slowly is the vast amount of nonunderstanding of the value of money problem among people who have understanding money as their job.
That's true :-) However, it may become a self-fulfilling prophecy too. If people commanding large amounts of value are "too stupid to adopt bitcoin", well.... then bitcoin will not be adopted. This is why I think the road of commercial adoption is much much more important than long-range speculation of "the moon". Commercial adoption will rise the demand for bitcoin as a payment asset, and not as a store for value (any longer than the time to spend it). If *that* can support a higher market cap, it may be the main price drive in the coming decade, over promises of "the moon", which will stay hypothetical, in my opinion, for at least many decades (at least the time it takes for the current generation of financials to take their retirement). A lot of investors think that the main purpose is payments, so they invest in diverse bitcoin related services companies. I think payments in itself does not drive the price, only the urge to hold bitcoins. Fortunately, that is a future side effect of creating many new payment customers, so I am happy with that.
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abercrombie
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November 16, 2014, 02:57:47 PM |
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Wow, went to sleep early Saturday night just when it was rallying at $383. Missed the whole runup to $395. Just woke up this morning, and it's back to $381.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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November 16, 2014, 03:01:16 PM |
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noobtrader
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November 16, 2014, 03:01:25 PM |
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Cup and handle forming on the 4h chart? 3 minute chart at bitfinex What is there to see on the 3 minute chart other than noise? oh... derp... u were right...
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Erdogan
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November 16, 2014, 03:03:02 PM |
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... Fiat is designed to lose value, 2 percent in some countries, 2 1/2 in others. Bitcoin not.
Bitcoin's doing just fine on that front lately, regardless of design ...Holding today means speculation that a large number of people will discover the same thing. I think they will, and one of the reasons it goes slowly is the vast amount of nonunderstanding of the value of money problem among people who have understanding money as their job.
The professionals and academics nonunderstand money, but you, Erdogan, veryunderstand it goodly. ...or might you be unsane? Perfect description, i veriunderstand goodly. Read the so called experts, they are full of stupid consensus related nonsense, and full of contradictions. By the way, the 2 percent price inflation is not really 2 percent forever, it takes only a change of mind of a few persons at a central bank to change it to 10 or whatever. Argentina has a goal of 20. Central banks change goalposts frequently, in fact, they change the goalposts at every fucking meeting. And the money volume inflation is closer to 10 percent in the main currencies, for currencies that are completely implemented. Edit: This is not the place to flash names of famous people, only arguments are good.
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NotLambchop
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November 16, 2014, 03:24:11 PM |
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... Fiat is designed to lose value, 2 percent in some countries, 2 1/2 in others. Bitcoin not.
Bitcoin's doing just fine on that front lately, regardless of design ...Holding today means speculation that a large number of people will discover the same thing. I think they will, and one of the reasons it goes slowly is the vast amount of nonunderstanding of the value of money problem among people who have understanding money as their job.
The professionals and academics nonunderstand money, but you, Erdogan, veryunderstand it goodly. ...or might you be unsane? Perfect description, i veriunderstand goodly. Read the so called experts, they are full of stupid consensus related nonsense, and full of contradictions. Experts = "so-called experts," consensus of the educated = "stupid ... nonsense." Illiterate d00d from the interwebs = real learningz. Gotcha. By the way, the 2 percent price inflation is not really 2 percent forever, it takes only a change of mind of a few persons at a central bank to change it to 10 or whatever...
Lol, that's how smart money works. See explanation by wikip gubermint stooges: http://en.wikipedia.org/wiki/Federal_Reserve_System#Elastic_currencyEdit: This is not the place to flash names of famous people, only arguments are good.
Non-sequitur? Edit:
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Erdogan
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November 16, 2014, 03:31:24 PM |
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Here is one expert, cato daily, from the monetary conference. Kevin Dowd, an adjunct scholar at the Cato Institute: http://www.cato.org/multimedia/daily-podcast/unfortunate-future-bitcoin"bitcoin will crash to zero, get out now! Yes, I am disappointed too." Check out his reasoning: Loss of confidence. And Cato is one of the best sources, committed to liberty.
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Erdogan
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November 16, 2014, 03:34:35 PM |
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... Fiat is designed to lose value, 2 percent in some countries, 2 1/2 in others. Bitcoin not.
Bitcoin's doing just fine on that front lately, regardless of design ...Holding today means speculation that a large number of people will discover the same thing. I think they will, and one of the reasons it goes slowly is the vast amount of nonunderstanding of the value of money problem among people who have understanding money as their job.
The professionals and academics nonunderstand money, but you, Erdogan, veryunderstand it goodly. ...or might you be unsane? Perfect description, i veriunderstand goodly. Read the so called experts, they are full of stupid consensus related nonsense, and full of contradictions. Experts = "so-called experts," consensus of the educated = "stupid ... nonsense." Illiterate d00d from the interwebs = real learningz. Gotcha. By the way, the 2 percent price inflation is not really 2 percent forever, it takes only a change of mind of a few persons at a central bank to change it to 10 or whatever...
Lol, that's how smart money works. See explanation by wikip gubermint stooges: http://en.wikipedia.org/wiki/Federal_Reserve_System#Elastic_currencyEdit: This is not the place to flash names of famous people, only arguments are good.
Non-sequitur? Edit: I don't understand, did you hide an argument in this nonsense?
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NotLambchop
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November 16, 2014, 03:37:45 PM |
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>Cato Institute Loooool, just peed myself a little Good one, bro! ~NotLambchop, PhD DMD DD DMT
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NotLambchop
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November 16, 2014, 03:39:07 PM |
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... I don't understand, did you hide an argument in this nonsense?
You don't understand because you're not too bright/chose to huff gasoline instead of doing your homework. Hope this helps
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wmr42393
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November 16, 2014, 03:40:25 PM |
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why do yo keep posting the same picture over and over again? do you have some memory issues?
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