Slow and steady wins the race

[smoothie]

Slow and steady? It went from 80 to 120 in two days!

Exactly my thoughts...ironic that the OP says slow and steady haha

[evolve]

Come to the light little bear.

I will...as soon as the bubble pops and we are back at a reasonable valuation.  Just like last time.

[Frozenlock]

Because you are interested in the relative change.

$1 increase when you are at $1, that's a huge deal.
$1 increase when you are at $120 is nothing.

Are you telling me that when looking at stocks charts, you use a linear scale?

I already addressed why that isn't feasible, and yes, I do use linear charts with stocks.

[oda.krell]

[...] exponential growth is unsustainable [...]

I love that quote. Some mathematical truisms, applied to a poorly understood model of reality.

To use your own words, "I'll give you a clue": Exponential growth happens everywhere. You disagree? Go argue with the bacteria then.

What you actually mean is: exponential growth at the same rate will eventually become unsustainable. Big difference.

Whether the growth of btc price is already unsustainable or not is up for debate. The kneejerk answer "u can never haz exponential growth!" however is utterly pointless.

[evolve]

aapl chart

Yeah, apple is in a bubble too (one that is popping as we speak).

*tired meme*

Why dont you try making a point instead of recycling stupid memes?  Or do you have one?

I love that quote. Some mathematical truisms, applied to a poorly understood model of reality.

To use your own words, "I'll give you a clue": Exponential growth happens everywhere. You disagree? Go argue with the bacteria then.

What you actually mean is: exponential growth at the same rate will eventually become unsustainable. Big difference.

Whether the growth of btc price is already unsustainable or not is up for debate. The kneejerk answer "u can never haz exponential growth!" however is utterly pointless.

No, trying to make an unrelated semantic argument (when you clearly understood the point being made) is pointless.

[smoothie]

aapl chart

Yeah, apple is in a bubble too (one that is popping as we speak).

Agreed. Cant really compare apple to bitcoin. Two different animals.

LOL so much fail on this forum.

[Malawi]

All this China hype is nothing more than a trap before we continue sliding further down.

Clearly you were captain of your high school debating team.

Based on your debating technique, you must have been in the cheerleading section.

[oda.krell]

No, trying to make an unrelated semantic argument (when you clearly understood the point being made) is pointless.

Dude, what the hell. Just yesterday I added you to my list of commenters I keep track of, because you tend to make good points, and now you're simply acting like a dick.

The point that started it all was: should one use a log chart. You said, with heavy sarcasm, obviously not, as eventually all exponential growth must come crashing down.

Which might be true, in the long run, but until then the correct way to model a certain behavior is still to describe it via an expoential function.

To come back to the bacteria example: just because their growth will eventually cease to be expoential doesn't mean a biologist would not use an expoential function to describe their growth during the time were it does.

Applied to our case: there is nothing wrong with using a log chart. In fact, looking over the price development since 2010, it actually looks strongly like exponential growth took place. You only need to be cautious if you start drawing some long ass line in a log chart and expect it to continue into the next year... then you set yourself up for failure. But using a log chart to begin with is probably the right thing to do at the moment.

[Frozenlock]

*tired meme*

Why dont you try making a point instead of recycling stupid memes?  Or do you have one?

Because I already did, to which you simply answered

I already addressed why that isn't feasible.

I'm pretty sure I also have already addressed why almost everything
should be looked with a log chart. Somewhere. Sometime.

[evolve]

*tired meme*

Why dont you try making a point instead of recycling stupid memes?  Or do you have one?

Because I already did, to which you simply answered

I already addressed why that isn't feasible.

I'm pretty sure I also have already addressed why almost everything
should be looked with a log chart. Somewhere. Sometime.

Look up three posts above that:

I'll give you a clue why I didn't use one....exponential growth is unsustainable, and the barrier to entry is greater with a higher price, even if percentage of growth is the same (which is one reason you see stock splits).  

[evolve]

Dude, what the hell.

I apologize.  I guess I'm getting a bit sensitive from the constant dogpiles and argument baiting around here.

Applied to our case: there is nothing wrong with using a log chart. In fact, looking over the price development since 2010, it actually looks strongly like exponential growth took place. You only need to be cautious if you start drawing some long ass line in a log chart and expect it to continue into the next year... then you set yourself up for failure.

I can agree with this...however, I don't see why a log chart is necessary when I am just providing a snapshot of the market to illustrate the rapid growth and volatility that we have seen in the last couple of months (as I was earlier in the thread) .

Also, there seems to be this pervasive thought around here that linear charts are useless, which I strongly disbelieve. Both have thier place depending on what you are looking at or trying to illustrate.

[Peter Lambert]

Subject does not make sense. "Slow and steady wins the race" What race? Where is the finish line?

[Babylon]

Subject does not make sense. "Slow and steady wins the race" What race? Where is the finish line?

The finish line is the mythical real price.

[Frozenlock]

Look up three posts above that:

I'll give you a clue why I didn't use one....exponential growth is unsustainable, and the barrier to entry is greater with a higher price, even if percentage of growth is the same (which is one reason you see stock splits).  

Uh.. that's your explanation?

Stock splits exist because you can't buy half a stock.

And for the exponential growth...

Unsustainable? Perhaps. But until we hit a hard limit, that's pretty much the best way to characterize it.
That's a double exponential, by the way.

[evolve]

Stock splits exist because you can't buy half a stock.

Yes, you can definitely buy fractional portions of stock. I own 27.3347 shares of GE, for example.

Stock splits occur because the price gets too high for people to easily buy complete lots (even though stocks do not have to be bought this way). The higher price becomes a barrier to entry.

[Frozenlock]

Weird, I've never been able to buy fractional stock.

But a higher price is NOT a barrier to entry for Bitcoin.

[evolve]

Weird, I've never been able to buy fractional stock.

But a higher price is NOT a barrier to entry for Bitcoin.

Discount brokers, I use Sharebuilder.

Of course it is. Price always matters and will always have a psychological effect on buyers.  

[Frozenlock]

I wish to spend $10.

BTC @ $10 ---> 1 BTC
BTC @ $100 --> 0.1 BTC

Where is the barrier?

[evolve]

The psychological difference between owning 1 of something and owning 0.1 of something is the barrier.

[Crypt_Current]

rise, chikuns, rise!

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