rpietila Wall Observer - the Quality TA Thread ;)

[Erdogan]

It is not too late to get in.

[1714492312]

1714492312

[1714492312]

1714492312

[BitChick]

had I invested in Bitcoin before the insane price increase. It's specially annoying as I saw it a lot of times back in 2009, but I don't want to be involved in criminal shit I though... ahh fuck.

You didn't research it very thoroughly if you thought it was criminal. If it's any consolation, thousands of people researched it more than you did and even contributed to the community without buying in. There may be hundreds of reasons, that you didn't have money at the time, that paypal blocked your account and you got burned etc. etc.

The question is how many thought "omfg $100, I really should have bought some earlier, I'll wait until they get less expensive" and are kicking themselves now. The major exchange turned out to be a scam, China decided aganist merchant adoption, and not once did we dip under $400 for very long.

Oh yeah I didn't. I thought "all this people will eventually get screwed". Like they would trace back the coins to the owners and shit. Also I just was scared away by the paedo and drugs stuff, so yeah I just forgot about it and thought it was "some deep web shit".

My husband and I were careful not to invest either because of the relationship with drugs, money laundering back in 2012.  We waited until we heard that some money laundering rules were at least being put into place before making our first purchase in 2013 right before the April bubble.  Unfortunately we did not go "all in" at that point and just put our feet in the water so to speak.   I feel like fear of the government cost us a few thousand, if not hundred thousand, at this point.  At least we are involved now and it is still early!

[AnnoyMint]

My husband and I were careful not to invest either because of the relationship with drugs, money laundering back in 2012.  We waited until we heard that some money laundering rules were at least being put into place before making our first purchase in 2013 right before the April bubble.  Unfortunately we did not go "all in" at that point and just put our feet in the water so to speak.   I feel like fear of the government cost us a few thousand, if not hundred thousand, at this point.  At least we are involved now and it is still early!

You are most likely incapable of understanding exactly how too late it is at this time, but it is too early to say for sure how late it actually is lately, and when the time comes you will be surprised at how early some of us (me in particular) were able to determine how late it actually is.  Lately I have been giving this topic some thought, especially early in the morning when I awake, which in your part of the world would be very late at night, but I actually experience day earlier than you ever could because of the rotational bias of the spherical solar satellite on which we reside being more attuned to my early waking than yours.  It is simply too late for you.

But I am done trying to elucidate the likes of you, and will leave now, never to return to this thread.

[BitChick]

My husband and I were careful not to invest either because of the relationship with drugs, money laundering back in 2012.  We waited until we heard that some money laundering rules were at least being put into place before making our first purchase in 2013 right before the April bubble.  Unfortunately we did not go "all in" at that point and just put our feet in the water so to speak.   I feel like fear of the government cost us a few thousand, if not hundred thousand, at this point.  At least we are involved now and it is still early!

You are most likely incapable of understanding exactly how too late it is at this time, but it is too early to say for sure how late it actually is lately, and when the time comes you will be surprised at how early some of us (me in particular) were able to determine how late it actually is.  Lately I have been giving this topic some thought, especially early in the morning when I awake, which in your part of the world would be very late at night, but I actually experience day earlier than you ever could because of the rotational bias of the spherical solar satellite on which we reside being more attuned to my early waking than yours.  It is simply too late for you.

But I am done trying to elucidate the likes of you, and will leave now, never to return to this thread.

Time will tell.  I am not worried.  I haven't lost anything and have gained a decent amount in one year so it is all good regardless.

But I have a feeling we are still VERY early in this.   

[Erdogan]

If you are a latecomer and full of grief, just swallow that, and inform yourself now. Imagine what bitcoin can do from its current state, based on bitcoin properties and how the world works. If it looks good, jump in. Know, reason and feel, act.

[Torque]

My husband and I were careful not to invest either because of the relationship with drugs, money laundering back in 2012.  We waited until we heard that some money laundering rules were at least being put into place before making our first purchase in 2013 right before the April bubble.  Unfortunately we did not go "all in" at that point and just put our feet in the water so to speak.  I feel like fear of the government cost us a few thousand, if not hundred thousand, at this point.  At least we are involved now and it is still early!

You are most likely incapable of understanding exactly how too late it is at this time, but it is too early to say for sure how late it actually is lately, and when the time comes you will be surprised at how early some of us (me in particular) were able to determine how late it actually is.  Lately I have been giving this topic some thought, especially early in the morning when I awake, which in your part of the world would be very late at night, but I actually experience day earlier than you ever could because of the rotational bias of the spherical solar satellite on which we reside being more attuned to my early waking than yours.  It is simply too late for you.

But I am done trying to elucidate the likes of you, and will leave now, never to return to this thread.

Time will tell.  I am not worried.  I haven't lost anything and have gained a decent amount in one year so it is all good regardless.

But I have a feeling we are still VERY early in this.  

Please ignore that newbie troll acct, BitChick.  Everyone involved in Bitcoin knows that whether it takes 2 yrs, 5 yrs, or even 10 yrs, bitcoin will at the very least do another 80-100X the current exchange price.  It's silly to think that the ~2M bitcoiners worldwide currently involved is all that there will ever be involved, ever.  A laughable thought, actually.  If and when the Bitcoin market ever plateaus, I believe at least 250M+ bitcoiners worldwide will be involved.  And that's a very conservative estimate, to say the least.

[Peter R]

My husband and I were careful not to invest either because of the relationship with drugs, money laundering back in 2012.  We waited until we heard that some money laundering rules were at least being put into place before making our first purchase in 2013 right before the April bubble.  Unfortunately we did not go "all in" at that point and just put our feet in the water so to speak.  I feel like fear of the government cost us a few thousand, if not hundred thousand, at this point.  At least we are involved now and it is still early!

You are most likely incapable of understanding exactly how too late it is at this time, but it is too early to say for sure how late it actually is lately, and when the time comes you will be surprised at how early some of us (me in particular) were able to determine how late it actually is.  Lately I have been giving this topic some thought, especially early in the morning when I awake, which in your part of the world would be very late at night, but I actually experience day earlier than you ever could because of the rotational bias of the spherical solar satellite on which we reside being more attuned to my early waking than yours.  It is simply too late for you.

But I am done trying to elucidate the likes of you, and will leave now, never to return to this thread.

Time will tell.  I am not worried.  I haven't lost anything and have gained a decent amount in one year so it is all good regardless.

But I have a feeling we are still VERY early in this.  

Please ignore to that newbie troll acct, BitChick.  Everyone involved in Bitcoin knows that whether it takes 2 yrs, 5 yrs, or even 10 yrs, bitcoin will at the very least do another 80-100X the current exchange price.  It's silly to think that the ~2M bitcoiners worldwide currently involved is all that there will ever be involved, ever.  A laughable thought, actually.  If and when the Bitcoin market ever plateaus, I believe at least 250M+ bitcoiners worldwide will be involved.  And that's a very conservative estimate, to say the least.

LOL, check the post history for AnnoyMint.  This is a spoof account parodying another infamous profile here at bitcointalk--it's actually pretty funny.  

[ErisDiscordia]

My husband and I were careful not to invest either because of the relationship with drugs, money laundering back in 2012.  We waited until we heard that some money laundering rules were at least being put into place before making our first purchase in 2013 right before the April bubble.  Unfortunately we did not go "all in" at that point and just put our feet in the water so to speak.   I feel like fear of the government cost us a few thousand, if not hundred thousand, at this point.  At least we are involved now and it is still early!

You are most likely incapable of understanding exactly how too late it is at this time, but it is too early to say for sure how late it actually is lately, and when the time comes you will be surprised at how early some of us (me in particular) were able to determine how late it actually is.  Lately I have been giving this topic some thought, especially early in the morning when I awake, which in your part of the world would be very late at night, but I actually experience day earlier than you ever could because of the rotational bias of the spherical solar satellite on which we reside being more attuned to my early waking than yours.  It is simply too late for you.

But I am done trying to elucidate the likes of you, and will leave now, never to return to this thread.

And the troll of the year award goes to... 

Thank you, kind sir, you made me literally LOL

[BitChick]

My husband and I were careful not to invest either because of the relationship with drugs, money laundering back in 2012.  We waited until we heard that some money laundering rules were at least being put into place before making our first purchase in 2013 right before the April bubble.  Unfortunately we did not go "all in" at that point and just put our feet in the water so to speak.  I feel like fear of the government cost us a few thousand, if not hundred thousand, at this point.  At least we are involved now and it is still early!

You are most likely incapable of understanding exactly how too late it is at this time, but it is too early to say for sure how late it actually is lately, and when the time comes you will be surprised at how early some of us (me in particular) were able to determine how late it actually is.  Lately I have been giving this topic some thought, especially early in the morning when I awake, which in your part of the world would be very late at night, but I actually experience day earlier than you ever could because of the rotational bias of the spherical solar satellite on which we reside being more attuned to my early waking than yours.  It is simply too late for you.

But I am done trying to elucidate the likes of you, and will leave now, never to return to this thread.

Time will tell.  I am not worried.  I haven't lost anything and have gained a decent amount in one year so it is all good regardless.

But I have a feeling we are still VERY early in this.  

Please ignore to that newbie troll acct, BitChick.  Everyone involved in Bitcoin knows that whether it takes 2 yrs, 5 yrs, or even 10 yrs, bitcoin will at the very least do another 80-100X the current exchange price.  It's silly to think that the ~2M bitcoiners worldwide currently involved is all that there will ever be involved, ever.  A laughable thought, actually.  If and when the Bitcoin market ever plateaus, I believe at least 250M+ bitcoiners worldwide will be involved.  And that's a very conservative estimate, to say the least.

LOL, check the post history for AnnoyMint.  This is a spoof account parodying another infamous profile here at bitcointalk--it's actually pretty funny.  

Yes.  I know.  The post was way too short to be the real "Annonymint."  I just can't help but respond for some reason?

[aminorex]

How could a single unit of something be so valuable?.... How could a single BTC have the purchasing power of 100K dollars?

How can a single metric tonne of gold be worth so much?

[qwerty555]

How could a single unit of something be so valuable?.... How could a single BTC have the purchasing power of 100K dollars?

How can a single metric tonne of gold be worth so much?

How can 10,000 pcs of printed paper and a good story be worth 1 million dollars of tinned beans?

How can 9 banks with a total capitial of under $1trillion be exposed to derivative losses of $200 +++trillion?

http://www.businessinsider.com/9-banks-combine-for-over-200-trillion-derivatives-exposure-2012-4

That is why the system needs to change.

Edit  that is now  $290 trillion for just 5 banks

https://www.google.com.ph/search?q=largest+derivative&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a&channel=sb&gfe_rd=cr&ei=TFfLU_SHBeWD8QfyyoC4DA#channel=sb&q=total+derivative+exposure+2014&rls=org.mozilla:en-US:official




http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1389103

As of May 18th, 2011 (the last BIS update available, which covers the period up to January 1st, 2011), the total notional value of all global OTC or over-the-counter (meaning non-exchange traded instruments where there is huge 'counter-party' risk) derivatives is now $601 trillion dollars US.

http://www.bis.org/publ/otc_hy1105.pdf

The actual total is probably closer to $1 quadrillion, as at the end of 2008, both the BIS and the IMF simply changed to a 'value to maturity' model, which is a 'mark to model' method, not the truthful 'mark to market' model for valuing notional derivative contract value. At the time of this change, the total was $1.1 quadrillion for OTC derivative types.

This is the same trick that the private banks and firms have used for the last 15 years to hide massive losses and claim false profits to trigger executive bonuses (it used to be illegal, until the laws were changed under the Clinton, Bush, and Obama administrations).


If even 25% of these contracts go bad, you are talking about $250 or so trillion needed to be covered. ( this is if the total is $1 quadrillion) The global GDP is only 55 to 60 trillion a year. The definition of economic depression is a 5% drop in GDP over 2 consecutive years.

[rpietila]

If even 25% of these contracts go bad, you are talking about $250 or so trillion needed to be covered. ( this is if the total is $1 quadrillion) The global GDP is only 55 to 60 trillion a year. The definition of economic depression is a 5% drop in GDP over 2 consecutive years.[/i]

To whom do they need to pay?

If we, the taxpayers, are the ones receiving the reward of our "good" bets, then we should be happy with the 250,000,000 million, since that would about double the wealth of every taxpayer in the world!

If we, the taxpayers, are not receiving the money, why should we be held accountable for paying "Bank A" the amount equal to all our net worth combined, especially as the counterparty, Bank B, that is on the winning side, is provably owned by the same people as "Bank A"?

If my left pocket makes a bet, valued at the size of the world, with my right pocket, on the condition that whichever pocket wins, the rest of the world must pay everything that they have to this pocket, well, let's just say I have been hospitalized for less

[DogTheHunter]

How could a single unit of something be so valuable?.... How could a single BTC have the purchasing power of 100K dollars?

How can a single metric tonne of gold be worth so much?

In some countries, like India, gold is part of daily life and built into some aspects of religious and culture displays of faith, status and acknowledgement or reinforcement of social connections. Therefore, the price of gold is driven by the need imperative to buy gold jewellery.

We need to make Bitcoin part of all religions or social displays ( ). BTC donations at the end of sermons, BTC as birthday presents, BTC as dowry, etc. 1 BTC for the boatman.

The scarcity and high price of BTC is the thing that would ironically reinforce its desirability, and the circular path is laid.

[dnaleor]

How could a single unit of something be so valuable?.... How could a single BTC have the purchasing power of 100K dollars?

How can a single metric tonne of gold be worth so much?

In some countries, like India, gold is part of daily life and built into some aspects of religious and culture displays of faith, status and acknowledgement or reinforcement of social connections. Therefore, the price of gold is driven by the need imperative to buy gold jewellery.

We need to make Bitcoin part of all religions or social displays ( ). BTC donations at the end of sermons, BTC as birthday presents, BTC as dowry, etc. 1 BTC for the boatman.

The scarcity and high price of BTC is the thing that would ironically reinforce its desirability, and the circular path is laid.

Where do you need to cross a river frequently? I want to be your boatman 

[DogTheHunter]

How could a single unit of something be so valuable?.... How could a single BTC have the purchasing power of 100K dollars?

How can a single metric tonne of gold be worth so much?

In some countries, like India, gold is part of daily life and built into some aspects of religious and culture displays of faith, status and acknowledgement or reinforcement of social connections. Therefore, the price of gold is driven by the need imperative to buy gold jewellery.

We need to make Bitcoin part of all religions or social displays ( ). BTC donations at the end of sermons, BTC as birthday presents, BTC as dowry, etc. 1 BTC for the boatman.

The scarcity and high price of BTC is the thing that would ironically reinforce its desirability, and the circular path is laid.

Where do you need to cross a river frequently? I want to be your boatman 

http://en.wikipedia.org/wiki/Charon's_obol

[wachtwoord]

How could a single unit of something be so valuable?.... How could a single BTC have the purchasing power of 100K dollars?

I can define a unit called the wachtwoord which is 160 BTC. Right now 1 wachtwoord is already trading @ $100k USD (625*160). Capiche?

[rpietila]

I can define a unit called the wachtwoord which is 160 BTC. Right now 1 wachtwoord is already trading @ $100k USD (625*160). Capiche?

In this case one wachtwoord should come to the next Malla party, since the unit's worth is higher than the threshold BTC100!

[Biodom]

I can define a unit called the wachtwoord which is 160 BTC. Right now 1 wachtwoord is already trading @ $100k USD (625*160). Capiche?

In this case one wachtwoord should come to the next Malla party, since the unit's worth is higher than the threshold BTC100!

rpietila, did you update the bitcoin wealth distribution recently?
Do you care to comment on how NY-proposed rules will affect bitcoin in a short or longer term? Do they even matter?
I hope that eventually some jurisdiction will dedicate itself to people with larger possession of bitcoin (say, 20-100 BTC and above) and provide better rules, taxation, etc.

[dnaleor]

I can define a unit called the wachtwoord which is 160 BTC. Right now 1 wachtwoord is already trading @ $100k USD (625*160). Capiche?

In this case one wachtwoord should come to the next Malla party, since the unit's worth is higher than the threshold BTC100!

What is the XMR treshold?

When my XMR stash is worth 100 BTC i'll come for sure
edit: that will take a while though...

[rpietila]

rpietila, did you update the bitcoin wealth distribution recently?
Do you care to comment on how NY-proposed rules will affect bitcoin in a short or longer term? Do they even matter?
I hope that eventually some jurisdiction will dedicate itself to people with larger possession of bitcoin (say, 20-100 BTC and above) and provide better rules, taxation, etc.

The bitcoin wealth distribution does not materially change if the price remains constant.