EVERYONE CALM DOWN

[legolouman]

I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this

is this a joke

what in gods name makes you believe that 100% arbitrary assertion

This actually

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

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[bitconformist]

I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this

is this a joke

what in gods name makes you believe that 100% arbitrary assertion

This actually

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

[legolouman]

I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this

is this a joke

what in gods name makes you believe that 100% arbitrary assertion

This actually

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

[fcmatt]

what if the price falls below the green line. will you just redraw the bottom green line and say all is well again?

[ElectricMucus]

what if the price falls below the green line. will you just redraw the bottom green line and say all is well again?

We'll talk about when and if it happens if you are still around you can always necrobump the thread and provide an alternative explanation 

[bitconformist]

I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this

is this a joke

what in gods name makes you believe that 100% arbitrary assertion

This actually

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

[legolouman]

I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this

is this a joke

what in gods name makes you believe that 100% arbitrary assertion

This actually

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

[Grinder]

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Of course it hasn't, because if it did then the green lines wouldn't be where they are now. Even if the price falls to 0.01 all you need to do is add older trades and wait until it recovers to 0.011 to make the trend be up.

[legolouman]

what if the price falls below the green line. will you just redraw the bottom green line and say all is well again?

We'll talk about when and if it happens if you are still around you can always necrobump the thread and provide an alternative explanation 

I agree, that makes sense.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Of course it hasn't, because if it did then the green lines wouldn't be where they are now. Even if the price falls to 0.01 all you need to do is add older trades and wait until it recovers to 0.011 to make the trend be up.

You clearly aren't looking at the picture. It consistently hits the line and then goes back up. If it dropped to .01 then the graph wouldn't consistently hit the bottom of the trend and come back up, they would just be dips.

[bitconformist]

I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this

is this a joke

what in gods name makes you believe that 100% arbitrary assertion

This actually

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

Sorry, I'm confused again: can you explain the orange line?

[legolouman]

I like that chart. It shows how the market is going to fluctuate on it's median. Sometimes up, sometimes low, but it shouldn't go anywhere outside of the bar. Prices have stabilized, and have not changed since I wrote this

is this a joke

what in gods name makes you believe that 100% arbitrary assertion

This actually

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

Sorry, I'm confused again: can you explain the orange line?

Difficulty- how hard it is to find a block
Bitcoin Price at Mt.Gox
High or Low trends
Did the best I could explaining, honestly, it's pretty straightforward.

[Fakeman]

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

Sorry, I'm confused again: can you explain the orange line?

Here, try these:

[Synaptic]

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

Sorry, I'm confused again: can you explain the orange line?

Here, try these:

LoL.

Also, fuck Bitcoin, let it die, or help it along. Bitcoin needs to die to give a crypto-currency that isn't designed like total shit to arrive and gain a market.

Bitcoin was a great proof-of-concept. It served it's purpose, not let it pass and the next evolution to arrive.

[legolouman]

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

Sorry, I'm confused again: can you explain the orange line?

Here, try these:

LoL.

Also, fuck Bitcoin, let it die, or help it along. Bitcoin needs to die to give a crypto-currency that isn't designed like total shit to arrive and gain a market.

Bitcoin was a great proof-of-concept. It served it's purpose, not let it pass and the next evolution to arrive.

It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from.

[ElectricMucus]

[Synaptic]

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

Sorry, I'm confused again: can you explain the orange line?

Here, try these:

LoL.

Also, fuck Bitcoin, let it die, or help it along. Bitcoin needs to die to give a crypto-currency that isn't designed like total shit to arrive and gain a market.

Bitcoin was a great proof-of-concept. It served it's purpose, not let it pass and the next evolution to arrive.

It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from.

If Satoshi didn't foresee that GPUs would be used for computing hashes (which is almost as close to their optimal use-case as one can get) even two years ago, then he is definitely the idiot-savant I described.

I prefer the con-man argument, but I digress...

[legolouman]

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

Sorry, I'm confused again: can you explain the orange line?

Here, try these:

LoL.

Also, fuck Bitcoin, let it die, or help it along. Bitcoin needs to die to give a crypto-currency that isn't designed like total shit to arrive and gain a market.

Bitcoin was a great proof-of-concept. It served it's purpose, not let it pass and the next evolution to arrive.

It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from.

If Satoshi didn't foresee that GPUs would be used for computing hashes (which is almost as close to their optimal use-case as one can get) even two years ago, then he is definitely the idiot-savant I described.

I prefer the con-man argument, but I digress...

Two years ago, a top of the line Video Card, wouldn't compare to CPU mining of those days. To think that a video card would be better at mathematical equations than a CPU (designed for computing) would be idiotic.

[VPoro]

You clearly aren't looking at the picture. It consistently hits the line and then goes back up. If it dropped to .01 then the graph wouldn't consistently hit the bottom of the trend and come back up, they would just be dips.

I have to take on this - fitting a line to two points is... quirky to say the least. You can always fit a line with R = 1.0 to two points, it doesn't mean anything. What you are suggesting here is exponential growth, btw, since a straight line in a logarithmic scale corresponds to:

log y / t = k --> log y = k*t --> y = exp(k*t) which yields to infinity when t --> infinity, i.e. the price would approach infinity if your predicted growth would hold up.

If you had drawn these lines before the price information was available (let's say at Nov 2010), there could be something, and even then, straight line just isn't possible in a log curve.

I call bullshit.

[Synaptic]

But what do the green lines represent? Sorry, I'm a bit clueless at finance.

The Green Lines are representing the Highs and lows of the BTC value. It HAS NOT gone outside of those lines, and the lines remain a shallow angle.

Ah, okay. I think I understand.

And the jagged orange line?

That's the difficulty, which will most likely drop again. (going on 3 in a row)

Ah, gotcha.

And the lavender one?

That is the actual price per BTC at MtGox, not to be confused with the high and low

Sorry, I'm confused again: can you explain the orange line?

Here, try these:

LoL.

Also, fuck Bitcoin, let it die, or help it along. Bitcoin needs to die to give a crypto-currency that isn't designed like total shit to arrive and gain a market.

Bitcoin was a great proof-of-concept. It served it's purpose, not let it pass and the next evolution to arrive.

It isn't that Bitcoin was designed poorly. The deflation theory was bad, but the other problems, that have to do with mining were unforeseen. Satoshi didn't think that GPU's would end up being used to mine BTC, and that is where these problems are coming from.

If Satoshi didn't foresee that GPUs would be used for computing hashes (which is almost as close to their optimal use-case as one can get) even two years ago, then he is definitely the idiot-savant I described.

I prefer the con-man argument, but I digress...

Two years ago, a top of the line Video Card, wouldn't compare to CPU mining of those days. To think that a video card would be better at mathematical equations than a CPU (designed for computing) would be idiotic.

You fucking idiot...

Even the R600 chip from 2006 could out-hash a CPU from the same era.

[legolouman]

You clearly aren't looking at the picture. It consistently hits the line and then goes back up. If it dropped to .01 then the graph wouldn't consistently hit the bottom of the trend and come back up, they would just be dips.

I have to take on this - fitting a line to two points is... quirky to say the least. You can always fit a line with R = 1.0 to two points, it doesn't mean anything. What you are suggesting here is exponential growth, btw, since a straight line in a logarithmic scale corresponds to:

log y / t = k --> log y = k*t --> y = exp(k*t) which yields to infinity when t --> infinity, i.e. the price would approach infinity if your predicted growth would hold up.

If you had drawn these lines before the price information was available (let's say at Nov 2010), there could be something, and even then, straight line just isn't possible in a log curve.

I call bullshit.

You my friend, have just made that up. If you look into science, exponential growth does the same thing. It gets High, and then crashed, and again, and again, until it stabilizes or it wipes it's self out.