Everything looks fine on the logarithmic charts

[Quantus]

all you need to do is flip the colors Can some one do this

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[giszmo]

all you need to do is flip the colors Can some one do this

if it makes you happy ... but somehow I prefer the more subtle jokes.

[dinzy]

 

Funny. you could have color swapped the candles for greater effect

[Oldminer]

I prefer the snail chart

[Piper67]

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.

Not really accurate, now is it? Bitcoin is deflationary in the long run, but at the moment there are thousands of new bitcoins mined every day... The current period in the bitcoin cycle is remarkably INFLATIONARY, and yet the currency manages to somewhat hold its value... Not bad, eh?

[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.

Not really accurate, now is it? Bitcoin is deflationary in the long run, but at the moment there are thousands of new bitcoins mined every day... The current period in the bitcoin cycle is remarkably INFLATIONARY, and yet the currency manages to somewhat hold its value... Not bad, eh?

Not really.  The dollar is inflationary, but you don't see it declining over 10% in a single day.  All that stuff is already priced into the market.

[mpfrank]

Get ready for a big jump in August if the U.S. Congress fails to raise the debt ceiling in time to avoid a default...

[Etlase2]

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.

Not really accurate, now is it? Bitcoin is deflationary in the long run, but at the moment there are thousands of new bitcoins mined every day... The current period in the bitcoin cycle is remarkably INFLATIONARY, and yet the currency manages to somewhat hold its value... Not bad, eh?

I'm sure that has nothing to do with 50,000 people vying for 50 btc every 10 minutes vs. 5 people vying for 50 btc every 10 minutes.

[muyoso]

Get ready for a big jump in August if the U.S. Congress fails to raise the debt ceiling in time to avoid a default...

No one is dumping their USD into effing bitcoins.  They would use gold.  Bitcoins are essentially worthless as a currency right now and the entire "economy" could collapse tomorrow for any number of reasons.  I know everyone on this board thinks that bitcoins are going to be the new universal currency and that every business will accept them and they will be worth thousands of dollars each, etc, etc, etc, but you have to realize that everyone on this board that says things like that is insane.

[DamienBlack]

Get ready for a big jump in August if the U.S. Congress fails to raise the debt ceiling in time to avoid a default...

No one is dumping their USD into effing bitcoins.  They would use gold.  Bitcoins are essentially worthless as a currency right now and the entire "economy" could collapse tomorrow for any number of reasons.  I know everyone on this board thinks that bitcoins are going to be the new universal currency and that every business will accept them and they will be worth thousands of dollars each, etc, etc, etc, but you have to realize that everyone on this board that says things like that is insane.

Gold is kind of worthless as a currency too. Don't know many people who would accept it for goods, and even if they did, how would I get it to them? Mail it?

Investing in gold assumes someone will be willing to buy it off of you for a fair price with currency you can use. At the moment, bitcoins are the same. But in the future, it might be possible to trade bitcoins directly for a variety of goods. It is easy and convenient. I don't think it will ever be that way for gold.

And PS, I'm dumping a good bit of my USD into bitcoin. So somebody is.

[misterbigg]

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.

And this is why the current decline in BTC value is going to reach some limit.

[muyoso]

Gold is kind of worthless as a currency too. Don't know many people who would accept it for goods, and even if they did, how would I get it to them? Mail it?

Investing in gold assumes someone will be willing to buy it off of you for a fair price with currency you can use. At the moment, bitcoins are the same. But in the future, it might be possible to trade bitcoins directly for a variety of goods. It is easy and convenient. I don't think it will ever be that way for gold.

And PS, I'm dumping a good bit of my USD into bitcoin. So somebody is.

Thats because gold isn't a currency.  Gold is a commodity.  You don't pay for things with gold.  You store your wealth in gold because their isn't a civilization on this planet that wouldn't give you their currency in exchange for gold. 

[DamienBlack]

Thats because gold isn't a currency.  Gold is a commodity.  You don't pay for things with gold.  You store your wealth in gold because their isn't a civilization on this planet that wouldn't give you their currency in exchange for gold.  

Then think of bitcoins as a commodity, with the potential to one day become a currency. If you are willing to put your money in a commodity, bitcoins seems a reasonable alternative to put some speculation money in. There is no particular reason to categorize bitcoin as "only" a currency. In many ways it has many traits of a commodity. Namely, a finite amount and a supply/demand dynamic.

[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.

Not really accurate, now is it? Bitcoin is deflationary in the long run, but at the moment there are thousands of new bitcoins mined every day... The current period in the bitcoin cycle is remarkably INFLATIONARY, and yet the currency manages to somewhat hold its value... Not bad, eh?

Not really.  The dollar is inflationary, but you don't see it declining over 10% in a single day.  All that stuff is already priced into the market.

yes really.  you call yourself an economist but you have no idea what inflation is.  no idea at all.

[pointbiz]

I hope everyone realizes this debate will never end. And at some point in the future the community will agree to have even more than 8 decimal places. When BTC is extremely valuable even 1 satoshi will be divided to 8 decimal places.

Regarding intrinsic value... it's in the network and software.

[DamienBlack]

I hope everyone realizes this debate will never end. And at some point in the future the community will agree to have even more than 8 decimal places. When BTC is extremely valuable even 1 satoshi will be divided to 8 decimal places.

Regarding intrinsic value... it's in the network and software.

This is the dream that many bears, myself included, hope for. But you have to ask yourself, how likely do you think that scenario is?

When I think about the many things that can go wrong, and the fact that maybe not many people will think this idea is as cool as I do, and I pull out my inner pessimist and make him answer the question, I still feel like there is a 1% chance of bitcoins becoming really, really big. Now the real me, thinks there is closer to a 60% chance. But either way, it is still worth an investment.

[bitsalame]

There are three kinds of debates that never ends:

1) Two (or more) knowledgeable people who share two (or more) valid points but in different ideological/theoretical positions.
Although they prefer their own vision, both usually recognize, acknowledge and understand the intellectual capacity and position of their opponent.
The debate is easily identifiable by the proper usage of terminology, sophisticated vocabulary and the higher level of debate.

2) One knowledgeable guy (who really know his stuff) Vs. one ignorant/stubborn/pedantic (who thinks he knows it all, although he barely could pass "TheTopic" 101).
The ignorant one usually thinks he is way ahead of the knowledgeable guy (or that he can even "beat" him through rhetoric and "logic"), and because he remembers better the textbook definitions of the terms. Expect a lot of both formal and informal fallacies from the ignorant person.

3) Two fools arguing each other, when both think they understand a subject after skimming through a dictionary and wikipedia.
Both idiots think that the other guy doesn't know anything. Usually they just repeat or recycle what they've read or heard, and make opinions without any grounds. More like a cockfight of egos, rather than a real intellectual debate. Expect a lot of misspellings and incongruity.

The funny thing is that in all cases the ignorant one is always oblivious of his pathetic ignorance.

[myrkul]

There are three kinds of debates that never ends:

1) Two (or more) knowledgeable people who share two (or more) valid points but in different ideological/theoretical positions.
Although they prefer their own vision, both usually recognize, acknowledge and understand the intellectual capacity and position of their opponent.
The debate is easily identifiable by the proper usage of terminology, sophisticated vocabulary and the higher level of debate.

2) One knowledgeable guy (who really know his stuff) Vs. one ignorant/stubborn/pedantic (who thinks he knows it all, although he barely could pass "TheTopic" 101).
The ignorant one usually thinks he is way ahead of the knowledgeable guy (or that he can even "beat" him through rhetoric and "logic"), and because he remembers better the textbook definitions of the terms. Expect a lot of both formal and informal fallacies from the ignorant person.

3) Two fools arguing each other, when both think they understand a subject after skimming through a dictionary and wikipedia.
Both idiots think that the other guy doesn't know anything. Usually they just repeat or recycle what they've read or heard, and make opinions without any grounds. More like a cockfight of egos, rather than a real intellectual debate. Expect a lot of misspellings and incongruity.

The funny thing is that in all cases the ignorant one is always oblivious of his pathetic ignorance.

And 95% of the debates on the internet are 3, 4% are 2, and 1% is 1. Give or take.

[NO_SLAVE]

Get ready for a big jump in August if the U.S. Congress fails to raise the debt ceiling in time to avoid a default...

No one is dumping their USD into effing bitcoins.  They would use gold.  Bitcoins are essentially worthless as a currency right now and the entire "economy" could collapse tomorrow for any number of reasons.  I know everyone on this board thinks that bitcoins are going to be the new universal currency and that every business will accept them and they will be worth thousands of dollars each, etc, etc, etc, but you have to realize that everyone on this board that says things like that is insane.

(shhh shhhh,  dont interrupt the fantasy!  Their all going to be BTC zillikonares! - now back to the circle jerk)
Go BTC! It will be at 30+ tommorrow!

[NO_SLAVE]

There are three kinds of debates that never ends:

1) Two (or more) knowledgeable people who share two (or more) valid points but in different ideological/theoretical positions.
Although they prefer their own vision, both usually recognize, acknowledge and understand the intellectual capacity and position of their opponent.
The debate is easily identifiable by the proper usage of terminology, sophisticated vocabulary and the higher level of debate.

2) One knowledgeable guy (who really know his stuff) Vs. one ignorant/stubborn/pedantic (who thinks he knows it all, although he barely could pass "TheTopic" 101).
The ignorant one usually thinks he is way ahead of the knowledgeable guy (or that he can even "beat" him through rhetoric and "logic"), and because he remembers better the textbook definitions of the terms. Expect a lot of both formal and informal fallacies from the ignorant person.

3) Two fools arguing each other, when both think they understand a subject after skimming through a dictionary and wikipedia.
Both idiots think that the other guy doesn't know anything. Usually they just repeat or recycle what they've read or heard, and make opinions without any grounds. More like a cockfight of egos, rather than a real intellectual debate. Expect a lot of misspellings and incongruity.

The funny thing is that in all cases the ignorant one is always oblivious of his pathetic ignorance.

speaking of pathetic. dont you have some nobel prize papers to write?