toknormal
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Activity: 3066
Merit: 1188
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January 13, 2015, 08:25:20 AM |
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If you took out a loan in DRK, converted it to USD and then two years later had to pay the DRK back (so you had to then get USD and convert it back to DRK), yes you're likely to be seriously disadvantaged..............But, think about if things are far more progressed along in terms of adoption and you can buy many goods and services in DRK, then it's a different situation altogether because if you don't convert your borrowed DRK into anything else Good point - that's basically it. i.e. the practice of borrowing in one currency and buying in another basically amounts to playing the currency markets (going alternately 'short' and 'long' in a currency pair). Hey ! This is how Icelandic banks made money by exposing their own mortgage customers to forex trading risk !  , ultimately bankrupting them. So this isn't a problem of deflationary currencies, it's simply a risk inherent with any type of cross currency trading. One other thing regarding "liquidity". Remember that cryptocurrency (as I indicated in my 101) is UNLEVERED BASE MONEY. What that means is that it could be levered in a fractional reserve system exactly the way base fiat money currently is in order to create more liquidity. In that regard, the "credit money" element of our current financial system if effectively a derivative and you can create as much of a derivative as there is demand. The same would apply if crypto was used as base money - i.e. in a hypothetical crypto economy we probably wouldn't actually be using the base crypto itself but a derivative of it (even though people might hold their savings in the base crypto). |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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toknormal
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Activity: 3066
Merit: 1188
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January 13, 2015, 08:34:24 AM |
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Any idea why this is happening? I've been working on hubbie's book marketing etc... so I missed many pages here.... What's up? Mark Karpeles selling his stash ? The banks bought loads of BTC 2 years ago and are now mounting an attack in case crypto "gets somewhere" ? Ditto the NSA ? Whales cashing out ? Capitulation ? Paycoin ? Ripple ? Commodity crash triggered by oil selloff ? Distribution ? |
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RenegadeMan
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January 13, 2015, 08:41:47 AM |
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Any idea why this is happening? I've been working on hubbie's book marketing etc... so I missed many pages here.... What's up? Mark Karpeles selling his stash ? The banks bought loads of BTC 2 years ago and are now mounting an attack in case crypto "gets somewhere" ? Ditto the NSA ? Whales cashing out ? Capitulation ? Paycoin ? Ripple ? Commodity crash triggered by oil selloff ? Distribution ? And....perhaps....Everyone just loading into USD like there's no tomorrow because that's the flavour of the moment (and people are so worried they return to the known)? |
BTC: 1KjAPEa3WvhmDGT4jmT9i5P3UPFdFH629e
DASH: Xdr6U5qcAdbuKRrr3xKBb1ySoPq7MKERnB
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tungfa
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Activity: 1834
Merit: 1023
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January 13, 2015, 08:42:48 AM |
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AikaPool
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January 13, 2015, 09:58:41 AM |
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Welcome to pool - http://aikapool.com/drkPlease add to OP! Single registration on many coins! All balances in one window!  |
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SpreadLight
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Activity: 67
Merit: 10
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January 13, 2015, 10:05:59 AM |
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Are you guys watching bitcoin price chart?  Bitstamp hit 225$ |
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KryptoFoo
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January 13, 2015, 10:20:08 AM |
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Are you guys watching bitcoin price chart? Bitstamp hit 225$ Perhaps we are finally seeing some capitulation. Let's get it over with! |
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SpreadLight
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Activity: 67
Merit: 10
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January 13, 2015, 10:25:00 AM |
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Are you guys watching bitcoin price chart? Bitstamp hit 225$ Perhaps we are finally seeing some capitulation. Let's get it over with! You call this capitulation? i am afraid this is NOTHING compared to the upcoming capitulation. It is almost guaranteed now we are gonna hit sub 100$ and only after that we might see another bubble. |
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stonehedge
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Activity: 1652
Merit: 1002
Decentralize Everything
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January 13, 2015, 10:27:21 AM |
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Are you guys watching bitcoin price chart? Bitstamp hit 225$ Perhaps we are finally seeing some capitulation. Let's get it over with! You call this capitulation? i am afraid this is NOTHING compared to the upcoming capitulation. It is almost guaranteed now we are gonna hit sub 100$ and only after that we might see another bubble. He called this "some capitulation", not the total extent of the capitulation. |
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KryptoFoo
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January 13, 2015, 10:28:52 AM |
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Are you guys watching bitcoin price chart? Bitstamp hit 225$ Perhaps we are finally seeing some capitulation. Let's get it over with! You call this capitulation? i am afraid this is NOTHING compared to the upcoming capitulation. It is almost guaranteed now we are gonna hit sub 100$ and only after that we might see another bubble. He called this "some capitulation", not the total extent of the capitulation. I agree, the volume is not high enough. Despair levels are pretty high so far (just check in over here: http://trollboxarchive.com). BTC down 10% already. Maybe we see a plunge to 200 on very high volume, and maybe another flash crash at btc-e into the 100's to form a bottom. Very painful to watch. |
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SpreadLight
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Activity: 67
Merit: 10
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January 13, 2015, 10:34:39 AM |
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Are you guys watching bitcoin price chart? Bitstamp hit 225$ Perhaps we are finally seeing some capitulation. Let's get it over with! You call this capitulation? i am afraid this is NOTHING compared to the upcoming capitulation. It is almost guaranteed now we are gonna hit sub 100$ and only after that we might see another bubble. He called this "some capitulation", not the total extent of the capitulation. I agree, the volume is not high enough. Despair levels are pretty high so far. BTC down 10% already. Maybe we see a plunge to 200 on very high volume, and maybe another flash crash at btc-e into the 100's to form a bottom. Very painful to watch. it is painful but at the same time something that we have to go through anyway. So better happen now and we can get over with it. I am happy that FBI won't get much fiat for their next auctions Once they sell all the coins for cheap then we will see the next bubble  |
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stonehedge
Legendary
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Activity: 1652
Merit: 1002
Decentralize Everything
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January 13, 2015, 10:45:51 AM |
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Are you guys watching bitcoin price chart? Bitstamp hit 225$ Perhaps we are finally seeing some capitulation. Let's get it over with! You call this capitulation? i am afraid this is NOTHING compared to the upcoming capitulation. It is almost guaranteed now we are gonna hit sub 100$ and only after that we might see another bubble. He called this "some capitulation", not the total extent of the capitulation. I agree, the volume is not high enough. Despair levels are pretty high so far. BTC down 10% already. Maybe we see a plunge to 200 on very high volume, and maybe another flash crash at btc-e into the 100's to form a bottom. Very painful to watch. it is painful but at the same time something that we have to go through anyway. So better happen now and we can get over with it. I am happy that FBI won't get much fiat for their next auctions Once they sell all the coins for cheap then we will see the next bubble lol, and still somehow DRK "holds" against the BTC. Painful times but I'm feeling a touch of relief too. |
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numisma
Member
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Activity: 61
Merit: 10
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January 13, 2015, 10:50:12 AM |
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At the moment only the sell walls @ cryptsy are holding the price down |
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stonehedge
Legendary
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Activity: 1652
Merit: 1002
Decentralize Everything
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January 13, 2015, 11:01:01 AM |
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At the moment only the sell walls @ cryptsy are holding the price down That sell wall is looking mighty tasty |
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RenegadeMan
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January 13, 2015, 11:03:18 AM |
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Are you guys watching bitcoin price chart? Bitstamp hit 225$ Perhaps we are finally seeing some capitulation. Let's get it over with! You call this capitulation? i am afraid this is NOTHING compared to the upcoming capitulation. It is almost guaranteed now we are gonna hit sub 100$ and only after that we might see another bubble. He called this "some capitulation", not the total extent of the capitulation. I agree, the volume is not high enough. Despair levels are pretty high so far. BTC down 10% already. Maybe we see a plunge to 200 on very high volume, and maybe another flash crash at btc-e into the 100's to form a bottom. Very painful to watch. it is painful but at the same time something that we have to go through anyway. So better happen now and we can get over with it. I am happy that FBI won't get much fiat for their next auctions Once they sell all the coins for cheap then we will see the next bubble lol, and still somehow DRK "holds" against the BTC. Painful times but I'm feeling a touch of relief too. Well it's good DRK's "holding" against BTC but just like "A rising tide lifts all boats" when the opposite's true everything goes down simultaneously. Unfortunately all of crypto is being decimated, both in value and the public's trust in it's validity. So SpreadLight while I can understand you're "happy that FBI won't get much fiat for their next auctions" this is not good and we could be witnessing a major collapse. It's no joke. |
BTC: 1KjAPEa3WvhmDGT4jmT9i5P3UPFdFH629e
DASH: Xdr6U5qcAdbuKRrr3xKBb1ySoPq7MKERnB
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OnetyOne
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January 13, 2015, 11:05:17 AM |
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At the moment only the sell walls @ cryptsy are holding the price down That sell wall is looking mighty tasty Lol impatience I guess, they took the sell wall off and dumped it under .006 |
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stonehedge
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Activity: 1652
Merit: 1002
Decentralize Everything
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January 13, 2015, 11:08:43 AM |
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At the moment only the sell walls @ cryptsy are holding the price down That sell wall is looking mighty tasty Lol impatience I guess, they took the sell wall and dumped it under .006 Gah! I was going to have a nibble at that! |
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numisma
Member
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Activity: 61
Merit: 10
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January 13, 2015, 11:09:04 AM |
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I have this gut feeling, that if DRK/BTC ratio holds, we might get more people into DRK, as this is THE COIN to be a part of in a mess like this. This is the best opportunity in a while.
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