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4mherewego (OP)
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October 27, 2013, 06:18:53 AM |
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April might have been higher measured in dollars... But we all know that the dollar is useless as a tool for comparison since it fluctuates like crazy with announcements of infinite printing of more dollars and lack of announcements of infinite printing of dollars. But if you use gold as a comparison Bitcoin did actually reach ATH in October:  With log scale:  |
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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rampantparanoia
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October 27, 2013, 06:25:57 AM |
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interesting point of view. do you see gold being the standard again?
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live627
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October 27, 2013, 06:46:09 AM |
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What would it look like when priced against real estate, DOW, or SMP-500?
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StarenseN
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October 27, 2013, 09:41:06 AM |
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April might have been higher measured in dollars... But we all know that the dollar is useless as a tool for comparison since it fluctuates like crazy with announcements of infinite printing of more dollars and lack of announcements of infinite printing of dollars. But if you use gold as a comparison Bitcoin did actually reach ATH in October: With log scale: ...but you're till comparing against gold priced in USD. |
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notme
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October 27, 2013, 01:32:37 PM |
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April might have been higher measured in dollars... But we all know that the dollar is useless as a tool for comparison since it fluctuates like crazy with announcements of infinite printing of more dollars and lack of announcements of infinite printing of dollars. But if you use gold as a comparison Bitcoin did actually reach ATH in October: With log scale: ...but you're till comparing against gold priced in USD. BTC/USD*USD/g of gold = BTC/g of gold. No USD here. It falls out. |
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StarenseN
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October 27, 2013, 01:38:05 PM |
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April might have been higher measured in dollars... But we all know that the dollar is useless as a tool for comparison since it fluctuates like crazy with announcements of infinite printing of more dollars and lack of announcements of infinite printing of dollars. But if you use gold as a comparison Bitcoin did actually reach ATH in October: With log scale: ...but you're till comparing against gold priced in USD. BTC/USD*USD/g of gold = BTC/g of gold. No USD here. It falls out. I know. So if g of gold is worth 1M$ USD, BTC/g of gold will drop, do you see my point ? |
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BitcoinAshley
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October 27, 2013, 01:52:56 PM
Last edit: October 28, 2013, 01:32:40 AM by BitcoinAshley |
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We're also at our all time high according to 7 day EMA.  This is important as it implies that our current price level may be more stable than it was in April of this year. We were only above $200 for a very short period of time. Now we may be below $200, but we've been in this area for much longer than we were in April. |
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notme
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October 27, 2013, 02:41:41 PM |
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April might have been higher measured in dollars... But we all know that the dollar is useless as a tool for comparison since it fluctuates like crazy with announcements of infinite printing of more dollars and lack of announcements of infinite printing of dollars. But if you use gold as a comparison Bitcoin did actually reach ATH in October: With log scale: ...but you're till comparing against gold priced in USD. BTC/USD*USD/g of gold = BTC/g of gold. No USD here. It falls out. I know. So if g of gold is worth 1M$ USD, BTC/g of gold will drop, do you see my point ? No, I don't. USD is arbitrary. You could do the same calculation with CNY and get nearly identical results. |
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wachtwoord
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October 27, 2013, 02:47:30 PM |
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Thanks for this thread. And thanks for pointing out that site. Is there also a way to see automatic updating graphs like this?
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theonewhowaskazu
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October 27, 2013, 04:52:53 PM |
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April might have been higher measured in dollars... But we all know that the dollar is useless as a tool for comparison since it fluctuates like crazy with announcements of infinite printing of more dollars and lack of announcements of infinite printing of dollars. But if you use gold as a comparison Bitcoin did actually reach ATH in October: With log scale: ...but you're till comparing against gold priced in USD. BTC/USD*USD/g of gold = BTC/g of gold. No USD here. It falls out. I know. So if g of gold is worth 1M$ USD, BTC/g of gold will drop, do you see my point ? The logic is that of Gold would go up that high, bitcoin should (in order to hold its value) go up as well. Which sort of makes sense, considering the similarities between gold and Bitcoin. |
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smoothie
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LEALANA Bitcoin Grim Reaper
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October 27, 2013, 07:13:54 PM |
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Nice chart, love the thread. Good stuff. Thanks for pointing this out to us.
Can you do one for silver too?
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
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HeliKopterBen
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October 27, 2013, 11:26:09 PM |
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April might have been higher measured in dollars... But we all know that the dollar is useless as a tool for comparison since it fluctuates like crazy with announcements of infinite printing of more dollars and lack of announcements of infinite printing of dollars. But if you use gold as a comparison Bitcoin did actually reach ATH in October: With log scale: ...but you're till comparing against gold priced in USD. BTC/USD*USD/g of gold = BTC/g of gold. No USD here. It falls out. I know. So if g of gold is worth 1M$ USD, BTC/g of gold will drop, do you see my point ? No, I don't. USD is arbitrary. You could do the same calculation with CNY and get nearly identical results. notme is right. This chart and data series takes fiat completely out of the equation. |
Counterfeit: made in imitation of something else with intent to deceive: merriam-webster
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tutkarz
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October 28, 2013, 08:14:36 AM |
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but that means the dollar increased in value meantime, shouldn't be the opposite considering printing money and debt problems?
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notme
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October 28, 2013, 01:27:57 PM |
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but that means the dollar increased in value meantime, shouldn't be the opposite considering printing money and debt problems?
1. Debt is deflationary. 2. Printing (at least in the US) does not happen without debt creation. 3. Gold fell during this time, which is why this chart looks stronger. 4. As explained above, these graphs have no relation to the value of fiat. |
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theonewhowaskazu
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October 28, 2013, 02:20:49 PM |
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but that means the dollar increased in value meantime, shouldn't be the opposite considering printing money and debt problems?
Not necessarily, for 3 reasons: 1) Much of the printed money is flowing overseas due to the trade deficit. 2) If you look, the public debt is decreasing, meaning the private debt must be increasing even faster. That's deflationary. 3) Gold is currently in an over-corrected state due to its last bubble crash. Gold does the exact same thing Bitcoin does, only to a lesser extent. |
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klee
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Merit: 1000
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October 28, 2013, 02:23:01 PM |
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April might have been higher measured in dollars... But we all know that the dollar is useless as a tool for comparison since it fluctuates like crazy with announcements of infinite printing of more dollars and lack of announcements of infinite printing of dollars. But if you use gold as a comparison Bitcoin did actually reach ATH in October: With log scale: ...but you're till comparing against gold priced in USD. BTC/USD*USD/g of gold = BTC/g of gold. No USD here. It falls out. I know. So if g of gold is worth 1M$ USD, BTC/g of gold will drop, do you see my point ? You know what math is idiot? |
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