ChartBuddy
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December 24, 2014, 09:00:27 PM |
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NewLiberty
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Activity: 1204
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Gresham's Lawyer
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December 24, 2014, 09:09:16 PM |
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Xmas rally ... derp ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FECJEzgC.gif&t=665&c=sXHiIMkKjV6ULA) Good call on the 6hr PSAR Tzupy ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) This is the live cat bounce?
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criptix
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December 24, 2014, 09:20:06 PM |
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happy christmas to everyone ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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ShroomsKit
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December 24, 2014, 09:26:05 PM Last edit: December 24, 2014, 10:07:06 PM by ShroomsKit |
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Merry Christmas to everyone here after a LONG YEAR in bitcoin. Can't wait to see what 2015 has in store for us. Dumpers and traders trying to destroy Bitcoin even more. Till the point that everyone gives up and moves on. What else?
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ShroomsKit
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December 24, 2014, 09:27:02 PM |
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This will go into history as the Christmas eve panic of 2014 ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi59.tinypic.com%2F11jvoyx.jpg&t=665&c=Lku1blwS7ZBPtA) Started shorting this fucker just at the left of this image Ouch, that long I took isn't looking so hot right now ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) Great. Every trader losing money is like a christmas present to me.
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BldSwtTrs
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December 24, 2014, 09:32:59 PM |
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Merry Christmas everybody ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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derpinheimer
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December 24, 2014, 09:39:08 PM |
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ChartBuddy
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Activity: 2282
Merit: 1800
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 24, 2014, 10:00:27 PM |
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JorgeStolfi
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December 24, 2014, 10:06:07 PM |
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Trading bitcoin is a negative-sum game because of the bank and trading fees. Exchanges do not create any money or bitcoin, but they consume some of both when coins and dollars move through them or inside them. Suppose that, since 2009, all the traders, current and past, put a total of X bitcoins and Y dollars into the exchanges (both net, deposits minus withdrawals). Because of the fees, all those people together now have less than X bitcoins and less than Y dollars left in their exchange accounts. So, as a group, they lost some bitcoins and lost some money. No matter how the deposits, withdrawals, and balances have been divided among those traders, and how you measure the gains and losses, every gain that a trader made is more than offset by the losses of other traders.
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samsonn25
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December 24, 2014, 10:24:30 PM |
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Yes indeed where there is opportunity for profit alot of middlemen step in.
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ChartBuddy
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December 24, 2014, 11:00:26 PM |
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findftp
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Delusional crypto obsessionist
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December 24, 2014, 11:02:36 PM |
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Chartbuddy, go and take some free time with your family. You've deserved a happy xmas as well
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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December 24, 2014, 11:03:16 PM |
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Trading bitcoin is a negative-sum game because of the bank and trading fees. Exchanges do not create any money or bitcoin, but they consume some of both when coins and dollars move through them or inside them. Suppose that, since 2009, all the traders, current and past, put a total of X bitcoins and Y dollars into the exchanges (both net, deposits minus withdrawals). Because of the fees, all those people together now have less than X bitcoins and less than Y dollars left in their exchange accounts. So, as a group, they lost some bitcoins and lost some money. No matter how the deposits, withdrawals, and balances have been divided among those traders, and how you measure the gains and losses, every gain that a trader made is more than offset by the losses of other traders. Jorge: You may be coming along a little bit, and at least you seem to be considering the bitcoin economy from 2009, rather than focusing on it since November 2013, which seems to had been your previous practice. As you may know, there is a lot more to any economy rather than some exchange activiities, and the narrow bitcoin world that you attempt to be outlining from your asserted neutral academic perspective. In any investment, there are a large variety of transactional costs and economic activities that have a variety of rippling effects (positive and negative) upon other aspects of the economy. We should NOT be attempting to describe any economy in isolation and by merely focusing on a few selective factors and then suggest that instead of having a zero sum game the whole of the contributions add up to a negative sum game because there happens to be transaction costs involved. Your outline and description of bitcoin contributions seems to be selectively biased and inadequate. You surely seem to spend a lot of time on a topic to attempt to negatively describe it and to project its demise and to fail to see the many positive attributes in which various cryptos, including bitcoin creates positive economic activity in the short and medium term and even if aspects do NOT survive in the long term remain socially / economically beneficial contributory forces.
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inca
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December 24, 2014, 11:21:00 PM |
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Love the cynical 2.5k dump on finex, ha! Love these natural market trades. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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BldSwtTrs
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December 24, 2014, 11:24:44 PM Last edit: December 24, 2014, 11:39:13 PM by BldSwtTrs |
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Trading bitcoin is a negative-sum game because of the bank and trading fees. Exchanges do not create any money or bitcoin, but they consume some of both when coins and dollars move through them or inside them. Suppose that, since 2009, all the traders, current and past, put a total of X bitcoins and Y dollars into the exchanges (both net, deposits minus withdrawals). Because of the fees, all those people together now have less than X bitcoins and less than Y dollars left in their exchange accounts. So, as a group, they lost some bitcoins and lost some money. No matter how the deposits, withdrawals, and balances have been divided among those traders, and how you measure the gains and losses, every gain that a trader made is more than offset by the losses of other traders. It's a game with positive externalities (the price convey information to other economic agents and thus guide the allocation of economic resources). And the trading game in itself is negative only if we account for the monetary gain-losses, but the overall subjective value gaining by the sum of each agent involved in this game is greater than the netting of their monetary accounts (subjective value begets by an exchange needs to be greater than the objective monetary value involved in order that the said exchange happens).
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FatherBob
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December 24, 2014, 11:36:24 PM Last edit: December 25, 2014, 12:03:53 AM by FatherBob |
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... You surely seem to spend a lot of time on a topic to attempt to negatively describe it and to project its demise and to fail to see the many positive attributes in which various cryptos, including bitcoin creates positive economic activity in the short and medium term and even if aspects do NOT survive in the long term remain socially / economically beneficial contributory forces.
My son, I see you have put much thought into your lengthy yet delightfully levitous sentence, which likely started out as a medium-length, or even short sentence that, after a comma, compounded and continued to grow and grow--like a weed reaching for sunshine which JUST GOT to be there outside above this deep, dark, and, frankly, depressingly damp oubliette; and WHO in God's name uses words like oubliette when they really mean "sewer sinkhole," and what does levitous even mean?! All good questions, my child, and the answer is Him! ~Rev. FatherBob
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ChartBuddy
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Activity: 2282
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December 25, 2014, 12:00:29 AM |
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JorgeStolfi
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December 25, 2014, 12:17:54 AM |
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It's a game with positive externalities [... ] the trading game in itself is negative only if we account for the monetary gain-losses, but the overall subjective value gaining by the sum of each agent involved in this game is greater than the netting of their monetary accounts (subjective value begets by an exchange needs to be greater than the objective monetary value involved in order that the said exchange happens).
Well, I agree. Besides doubling my BTC holdings every day for a year now, I learned a lot of new things from posts and links in this forum, and (believe it of not) from this thread especially.
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ChartBuddy
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Activity: 2282
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December 25, 2014, 01:00:27 AM |
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FreeBambi
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December 25, 2014, 01:20:31 AM |
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