Everything looks fine on the logarithmic charts

[DamienBlack]

I would just like to point out to all the doom and gloomers, that everything looks just fine on the log charts (which you should be using)

[Quantus]

what is this?

[DamienBlack]

what is this?

This is the price of bitcoins over the last 12 months on a logarithmic scale.

[dinzy]

Looking at this, I would wait a couple of months before buying again at ~ 5 bucks. 

[BTC Economist]

Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

[DamienBlack]

Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

Yes, I admit a downward trend. It just isn't "the end of bitcoin" like some people are griping about.

[imperi]

If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins.

edit:

More like 2 or 3%.

[GeniuSxBoY]

If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins.

If it ever gets to 0.05...no one thinks they're worth a nickle to have. You'll have a bunch of bitcoins that nobody wants anymore.

[Quantus]

oh I had to educate myself about logarithmic charts. (Used in earthquakes and solar flares or any thing that uses a large number variances.) like our horribly unstable bitcoins.
I still don't understand how to read this chart though. how is this different from some thing like a Moving average? only a 9th grade education sorry  

[Jack of Diamonds]

If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins.

If it ever gets to 0.05...no one thinks they're worth a nickle to have. You'll have a bunch of bitcoins that nobody wants anymore.

I'd take the gamble with a hundred bucks.
If you win, you practically got 2,000 bitcoins free and their value is $20-$50 years down the road. If you lose, you're out the price of 2 video games, a few bar nights, or what-have-you.

Since they always have *some* function as an instrument of value, I'd hold on to them. Doesn't matter if it's temporarily $15, $3, $0.01 or $250.

[BTC Economist]

oh I had to educate myself about logarithmic charts. (Used in earthquakes and solar flares or any thing that uses a large number variances.) like our horribly unstable bitcoins.
I still don't understand how to read this chart though. how is this different from some thing like a Moving average? only a 9th grade education sorry  

The idea is that a jump from 5 to 10 should be seen the same as a jump from 10 to 20.  In both cases you double your money.  What's important is the % change not the absolute value in change.  Logs show percentage changes.

[Quantus]

o i fucking get thank you

[aral]

Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

Hey 'economist' it's only deflationary in the long term.  Right now it's highly inflationary.  The supply of bitcoins is increasing as miners discover new blocks and the only reason it is holding its value at all is the expansion of the bitcoin economy. 

[BTC Economist]

Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

Hey 'economist' it's only deflationary in the long term.  Right now it's highly inflationary.  The supply of bitcoins is increasing as miners discover new blocks and the only reason it is holding its value at all is the expansion of the bitcoin economy.  

Wrong.  It's not even holding its value as you say.  It's declining.

[myrkul]

There's always a slight dip right before the jump.

Back up to $30?

I think so.

[imperi]

I think there's a decent possibility of this happening.

[TraderTimm]

Wrong.  It's not even holding its value as you say.  It's declining.

Hey now, the human brain can rebound from many things. Don't sell yourself short.

[Bitcoin Swami]

I think there's a decent possibility of this happening.

is that a cup and handle? Still learning my chart lingo.. very interesting

[imperi]

I think there's a decent possibility of this happening.

is that a cup and handle? Still learning my chart lingo.. very interesting

Indeed, it is. I learned about this type of graph somewhat recently from one of BitcoinChannel's videos.

[giszmo]

I personally prefer the -1 chart