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

[NotLambchop]

Post the price of a house from 1946 and 2013.

~5k in 1946 vs ~260k 2013, almost x50.

Computers, on the other hand, have actually gone down in price:
~$486,804.00 in 1946 (ENIAC); ~$299.99 in 2006 (2.93-GHz HPa1200y desktop).

That's why the standard of living is measured in terms of "basket of goods," and not in computers or houses.

Hope this clears things up for you

[inca]

Now tell me which items in such a 'basket of goods' takes up most household income. Next remind us who benefits from large mortgages currently in existence in the Western world? Finally, why does it now require both husband and wife to work to attain the same standard of living as a single earner in the 1970's and earlier?

[Elwar]

Many posts in this thread have been deleted around the 10k posts mark, and also earlier. Fearing that those could have been used as evidence?
As for 2 years of jail humbling a guy, I don't think so. Just makes him bitter and revengeful, possibly more cautious.

Most of the posts around 10,000 were people posting "10,000!!!!", trying to be one of the people on the 10,000th page.

But then those that missed it started deleting their old posts so that their post would be on page 10,000. This went on for about 3 days straight.

[Richy_T]

Average Annual Income 1946 = $2,600;   2013 =$51,017, almost x20 times.

Which is great if you live paycheck-to-paycheck and don't plan to retire (and believe the government inflation figures which differ significantly from those calculated by independent bodies).

[NotLambchop]

Now tell me which items in such a 'basket of goods' takes up most household income. Next remind us who benefits from large mortgages currently in existence in the Western world? Finally, why does it now require both husband and wife to work to attain the same standard of living as a single earner in the 1970's and earlier?

I'll do one better:  I'll give you the actual standard of living chart, 1947 to ~now.



Things are looking up, inca.  Fistbump?

[jonoiv]

...
Christmas is coming. No doubt many of us will settle down, full of ham, turkey, duck (or whatever your local seasonal dish is) around the television with the family and tune into that enduring classic, "It's a wonderful life".

If you're familiar with this movie, at one point, $8000 dollars is misplaced. This is seen as a catastrophe. Chaos ensues: Businesses are at risk, careers threatened, jail time looms, suicide considered.

Over $8000?

Well, see "It's a Wonderful Life" was released in 1946. Care to guess how much that would be worth in modern money? We're talking close to $100,000 dollars (give or take pocket change) and that's using government figures which have been diddled over the years.

Merry Christmas.

Yep, 8k in 1946 is ~102k now, almost x13 times

On a happier note:

Average Annual Income 1946 = $2,600;   2013 =$51,017, almost x20 times.

Funny things, stats

102k for a block buster movie in 2014.    

you have to be kidding. A top blockbuster is $100 million easy.

$8000  x 12500 (twelve thousand, five hundred times)

[NotLambchop]

Average Annual Income 1946 = $2,600;   2013 =$51,017, almost x20 times.

Which is great if you live paycheck-to-paycheck and don't plan to retire.

Those who are living paycheck-to-paycheck are the people I'm concerned about, not the rich complaining about not being rich enough.
No one saves for retirement by stuffing a mattress.  401(k), or even a bank account would do better.  Welcome to the 20th 21st century!

[conspirosphere.tk]

Average Annual Income 1946 = $2,600;   2013 =$51,017, almost x20 times.

[ChartBuddy]

Explanation

[Richy_T]

I'll do one better:  I'll give you the actual standard of living chart, 1947 to ~now.



Things are looking up, inca.  Fistbump?

See that gap between the "projected" and "actual"? That's what your fiat currency gets you.

[NotLambchop]

...
Christmas is coming. No doubt many of us will settle down, full of ham, turkey, duck (or whatever your local seasonal dish is) around the television with the family and tune into that enduring classic, "It's a wonderful life".

If you're familiar with this movie, at one point, $8000 dollars is misplaced.[/color] This is seen as a catastrophe. Chaos ensues: Businesses are at risk, careers threatened, jail time looms, suicide considered.

Over $8000?

Well, see "It's a Wonderful Life" was released in 1946. Care to guess how much that would be worth in modern money? We're talking close to $100,000 dollars [/color](give or take pocket change) and that's using government figures which have been diddled over the years.

Merry Christmas.

Yep, 8k in 1946 is ~102k now, almost x13 times

On a happier note:

Average Annual Income 1946 = $2,600;   2013 =$51,017, almost x20 times.

Funny things, stats

102k for a block buster movie in 2014.    

you have to be kidding. A top blockbuster is $100 million easy.

$8000  x 12500 (twelve thousand, five hundred times)

You should read and think before typing.  Try it now!

[inca]

Actually I would say that wages seem stagnant and cost of living on major life purchases for the average person has risen dramatically higher than inflation. This is entirely to the benefit of banks lending mortgages.

Something funny seems to have happened on that chart almost exactly when the US came off the gold standard and became a centrally planned pure fiat currency. You argued very eloquently (and wrongly IMO) that bitcoin is a poor currency because it has fixed enforced programatic scarcity on another thread. Perhaps look at that chart you posted and give us an analysis to back up that assertion with a straight face.

[NotLambchop]

I'll do one better:  I'll give you the actual standard of living chart, 1947 to ~now.



Things are looking up, inca.  Fistbump?

See that gap between the "projected" and "actual"? That's what your fiat currency gets you.

That's because "projected" was projected by folks like you, this chart is supposed to show you exactly what you've read into it. 
What it does show is the standard of living actually improving.

[NotLambchop]

Actually I would say that wages seem stagnant and cost of living on major life purchases for the average person has risen dramatically higher than inflation. This is entirely to the benefit of banks lending mortgages.

Something funny seems to have happened on that chart almost exactly when the US came off the gold standard and became a centrally planned pure fiat currency.

That's because the chart was made by goldbugs, duh!  I used it because even they admit that the standard of living has improved.

You argued very eloquently (and wrongly IMO) that bitcoin is a poor currency because it has fixed enforced programatic scarcity on another thread. Perhaps look at that chart you posted and give us an analysis to back up that assertion with a straight face.

For someone who has me on ignore, you follow my posts pretty diligently.  Kudos!

[inca]

No rebuttal then?



 

[prophetx]

amazing new interface on Poloniex, this is the kind of stuff that will have regular people more comfortable buying crypto

https://poloniex.com/exchange#btc_xcp

[NotLambchop]

No rebuttal then?
 

Lol, I told you i posted a chart made by goldbugs, to err on your side of the argument.  Here's a real one

[FreeBambi]

pries is crashink

is it ok?

[FatherBob]

Are you going to spend eternity in Hell, or basking in Bitcoin's glory?  
Mind if we come in?

[ChartBuddy]

Explanation