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Author Topic: Today 1 BTC=1.3 USD  (Read 3529 times)
wobber
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January 07, 2011, 05:30:23 AM
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What if we all say: from today, one bitcoin is 1.3 PPUSD? Will it's value be that? I guess so, since it's worth what we all want it to. What stops us to do so? Can we call this "speculation"?

I'm very curious about that.

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theymos
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January 07, 2011, 05:40:18 AM
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Anyone who agrees to do that will run out of PPUSD very quickly.

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January 07, 2011, 05:44:23 AM
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Anyone who agrees to do that will run out of PPUSD very quickly.
... Unless all people at the same time move their ASK orders up to that level at the same time

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January 07, 2011, 06:01:03 AM
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Hey! I'll sell you my BTC @ 1.3USD!!!  Shocked

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nanotube
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January 07, 2011, 06:10:57 AM
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Hey! I'll sell you my BTC @ 1.3USD!!!  Shocked

hey me too! count me in!  Smiley

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January 07, 2011, 06:18:28 AM
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Hey! I'll sell you my BTC @ 1.3USD!!!  Shocked

hey me too! count me in!  Smiley

1.29! 1.29!

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January 07, 2011, 06:25:02 AM
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Hey! I'll sell you my BTC @ 1.3USD!!!  Shocked

hey me too! count me in!  Smiley

1.29! 1.29!

what the hell? We just agreed it would be 1.30, are you a cheater?

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January 07, 2011, 07:56:58 AM
 #8

What if we all say: from today, one bitcoin is 1.3 PPUSD? Will it's value be that? I guess so, since it's worth what we all want it to. What stops us to do so? Can we call this "speculation"?

I'm very curious about that.

It would only work if you use government regulations to impose it. The only way to create a cartel is government regulations. Cartels dont last long in the free market (as you just witnessed).
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January 07, 2011, 03:56:04 PM
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what the hell? We just agreed it would be 1.30, are you a cheater?

20 BTC @ 1.289 each!

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January 07, 2011, 04:36:25 PM
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Damn you! I got so excited after reading the headline only to find that it was not true Angry I thought I was rich for a minute there.

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January 07, 2011, 06:35:28 PM
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ok, i didn't want to do it... but it looks like you guys force my hand. selling 5000btc at 1.288 usd each! it's my final offer! Smiley

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wobber
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January 07, 2011, 06:49:56 PM
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I don't know if this topic had any influence but on Mt.Gox the high price for today is 0.322. Might be, who knows...

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Vinnie
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January 07, 2011, 06:50:12 PM
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ok, i didn't want to do it... but it looks like you guys force my hand. selling 5000btc at 1.288 usd each! it's my final offer! Smiley

You're much deeper than I am. 10BTC @ 1.285 USD each!

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davux
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January 07, 2011, 09:54:27 PM
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What if we all say: from today, one bitcoin is 1.3 PPUSD? Will it's value be that? I guess so, since it's worth what we all want it to. What stops us to do so?

As you can see in the posts that follow yours, this idea is not very realistic. What you/we can do, though, if you want the value of Bitcoin to raise, is to make an effort and accept to buy bitcoins at a slightly higher price.

But I guess the main question is: why bother? I mean, it's just a choice of units. A Bitcent is already worth 3.3 USD, how great is that? Means nothing.

(BTW, the correct spelling "its value", not "it's value". I'd love everyone out there to consider that.)

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January 07, 2011, 10:42:49 PM
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what the hell? We just agreed it would be 1.30, are you a cheater?

20 BTC @ 1.289 each!

Regular price is $1.30, On sale today only for $1.05!  Get them while they last!

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
RHorning
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January 07, 2011, 11:36:44 PM
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I don't know if this topic had any influence but on Mt.Gox the high price for today is 0.322. Might be, who knows...

Technical analysis has been showing the price of bitcoins was going up anyway and some good reasons to think that would be the case.

There certainly is some strong inflation going on right now in regards to Bitcoins, because demand is outstripping supply.  Postings here are irrelevant, other than to note that the overall trend is to be that the value of Bitcoins relative to the dollar is just going to go up.  Speculation about when parity (aka 1 BTC == 1 USD) has happened even before this thread was started.

Claiming this thread has the kind of influence suggested is like saying you had control of the Sun when it came up over the horizon this morning.  Your mass and possibly the mass of the things you own might have had a small impact upon that happening, but it is a minor and on a practical level an insignificant impact upon that happening.

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kiba
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January 07, 2011, 11:39:45 PM
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Lot of things have influence on the bitcoin economy from day to day basis. It would be foolish to think something cause something else with no evidence to back it up.

We simply don't know why bitcoin spectulators bid the ways they bid, unless we start handling survey each day on why they bid.

MoonShadow
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January 07, 2011, 11:57:47 PM
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There certainly is some strong inflation going on right now in regards to Bitcoins, because demand is outstripping supply. 


You intended to say "strong deflation", right?  Inflation is when the size of the monetary base is increasing relative to the size of the economy, which ultimately results in the drop in relative value of the currency.  What we are experiencing, in aggregate, is deflation.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
hugolp
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January 08, 2011, 05:19:22 AM
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There certainly is some strong inflation going on right now in regards to Bitcoins, because demand is outstripping supply. 


You intended to say "strong deflation", right?  Inflation is when the size of the monetary base is increasing relative to the size of the economy, which ultimately results in the drop in relative value of the currency.  What we are experiencing, in aggregate, is deflation.

Inflation is when there is an increase of money bigger than the demand for money (not the size of the economy).
MoonShadow
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January 08, 2011, 05:40:51 AM
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There certainly is some strong inflation going on right now in regards to Bitcoins, because demand is outstripping supply. 


You intended to say "strong deflation", right?  Inflation is when the size of the monetary base is increasing relative to the size of the economy, which ultimately results in the drop in relative value of the currency.  What we are experiencing, in aggregate, is deflation.

Inflation is when there is an increase of money bigger than the demand for money (not the size of the economy).

Well, that's what I said.  The economy is what creates the natural demand.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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