A question to anyone who still doubts Bitcoin:

[Elwar]

Chewbacca is from Endor.

This makes no sense.

[NationOwnedCCNow]

You geniouses just pushed me to believe the only answer is 5.

Why? It is the missing number, ofcourse.



OR 8!!! And 8 is magical.



It's 8.

[porcupine87]

The thing is: The graph is based on reality, not fiction.

The thing is: The graph is based on the past, not the future.

Extrapolating is always dangerous. It works till it doesn't.

I also expect that we're probably shooting up by a factor of 5-10 in a few months...

But it isn't a given.

This.

Technical analysis uses a lot of selective sampling and selective selection of analysis strategy. For example: What exactly is the justification to choose a logarithmic scale? Just because this is the only scale where you can draw a trendline?

That's not proper science, it's manipulative selection of methods (and timeframe) until you get the results you want to get.

This. I mean if you take that trendline, everybody knows it will not go one forever. If the price increased by the factor of 5 every 6 month, does this mean the price will be 3 800 000 000 000 000 $ inb 10 years? Everyone knows that that is no true. Impossible. So this trendline has to be false in some time in the future. Maybe now. Maybe another 5 cylcles? We don't know.

[NationOwnedCCNow]

The thing is: The graph is based on reality, not fiction.

The thing is: The graph is based on the past, not the future.

Extrapolating is always dangerous. It works till it doesn't.

I also expect that we're probably shooting up by a factor of 5-10 in a few months...

But it isn't a given.

This.

Technical analysis uses a lot of selective sampling and selective selection of analysis strategy. For example: What exactly is the justification to choose a logarithmic scale? Just because this is the only scale where you can draw a trendline?

That's not proper science, it's manipulative selection of methods (and timeframe) until you get the results you want to get.

This. I mean if you take that trendline, everybody knows it will not go one forever. If the price increased by the factor of 5 every 6 month, does this mean the price will be 3 800 000 000 000 000 $ inb 10 years? Everyone knows that that is no true. Impossible. So this trendline has to be false in some time in the future. Maybe now. Maybe another 5 cylcles? We don't know.

Definately not this.

Log scale is used not to trick the eye but to make it possible for the eye to even see it. BTC have gone up too much so if you're gonna make a graph showing all the rises in detail you have to make the Picture as big and high as a 3-story building. To use 1-10 instead of 1-2 is just this - a means of showing what's happening without printing the Picture on a 10x10m wall.

But Yeah, ofcourse, it will be wrong sometime in the future. Nobody is arguing that.

[IIOII]

Selective sampling and selective selection? Wtf have you been smoking bro? Give me some of that sht!

What is "selective" on the graphs? There's an X and a Y axis, time and market value. That's it, nothing taken away and nothing added.

Justification to chose a logarithmic scale? Well you answered that yourself didnt you: You can Draw a trendline, see the trend of the curve and make a prediction.

It ain't proper science? Ofcourse not. The sentence following that is fkn stupid though. "Manipulative selection of Methods until a wanted result is given." Erm... No?

 You are free to make a graph on Your own proving me it's possible to stick to facts, as theese graphs do,  and get a different result.

Definately not this.

Log scale is used not to trick the eye but to make it possible for the eye to even see it. BTC have gone up too much so if you're gonna make a graph showing all the rises in detail you have to make the Picture as big and high as a 3-story building. To use 1-10 instead of 1-2 is just this - a means of showing what's happening without printing the Picture on a 10x10m wall.

But Yeah, ofcourse, it will be wrong sometime in the future. Nobody is arguing that.

Obviously you do not fully understand the argument: If you can apply arbitrarily chosen methods to arbitrarily chosen subsets of data on an arbitrary scale, you can manipulate your "analysis" to yield any result you want to have. Therefore such an analysis is also arbitrary and has no predictive value.

Please reduce your use of insulting language.

[NationOwnedCCNow]

TAKE A LOOK AGAIN! You see how the curve, after last rise/fall, goes Down just like it has done this day? Come on People, its all about Logic patterns.. Both the chinese and jews are extremely religious(Chinese believing in astrology and they both follow prophecies) and all about sticking to theese Logic patterns, aligning stars etc.

Im litterally laughing my ass off, at all you weak-hearted peeps out there Well gl to all

[Bit_Happy]

The trouble with Bitcoin is that it's growing at a logarithmic rate.

This makes it hard to "see" the trend.

Log scale helps alot:

I realized why I don't like this "chart" it is very misleading. Y axis is labeled in such a way to make it look like that. If labeled properly it doesn't look a thing like that.

"Statistics don't lie, but liars use statistics" Comes to mind.

Douche.

The value of a log scale is debatable.
There is no doubt that you should know what one is prior to rudely insulting g4c the way you did.

[BittBurger]

I don't think a person buying only 1BTC is ever going to become rich off of it, whether they buy it now or in 3 months.

+1

You'd have to buy a decent amount of coins now to potentially become wealthy from it

+1

The days of putting a few hundred bucks into BTC and becoming rich are over.

+1

[BitchicksHusband]

The answer is 9.

1+2=3
2+4=6
3+6=9

Also, of course you should use a log chart to view something that has been demonstrably growing logarithmically.  Sheesh!  Seriously, people?  We even have to have this argument?

[redhawk979]

Log scale charts always appear in a way to make people feel better about their investments, a way to pretend that there is no value loss.

[NationOwnedCCNow]

http://rt.com/op-edge/west-russia-sanctions-economic-destruction-436/

Not much time left now.. US pressing Russia into war With sanctions due to this very fact that their economy is about to go pop.

[NationOwnedCCNow]

https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fi%2FeZweFhJC%2F&t=538&c=nkNRFuib8QK82w

Add this Picture to the Whole.



End of discussion. 1-90 days.

Are you actually trying to justify one exponential rise by trashing another?

What??

I'm saying everything speaks for a bitcoin rise within the next weeks. Bitcoin Charts and history alone, stockmarket and economy , politics, geo-politics, energy market and so on and so on..

[g4c]

Log scale charts always appear in a way to make people feel better about their investments, a way to pretend that there is no value loss.

"always"... well give some examples of where log charts have been used to calm people in the past, or even just just one example?

Ask anyone who bought bitcoins below $1 if they've had value loss.

A log chart allows one to see macro structure and detail in data sets that simply cannot be seen on a linear scale.

Not all securities are suitable for log scales, bitcoin is because it is logarithmically exponentially growing.

[xybersurfer]

Log scale charts always appear in a way to make people feel better about their investments, a way to pretend that there is no value loss.

"always"... well give some examples of where log charts have been used to calm people in the past, or even just just one example?

Ask anyone who bought bitcoins below $1 if they've had value loss.

A log chart allows one to see structure and detail in data sets that simply cannot be seen on a linear scale.

Not all securities are suitable for log scales, bitcoin is because it is logarithmically growing.

i thought logarithmic scales were for exponential growth

[g4c]

Log scale charts always appear in a way to make people feel better about their investments, a way to pretend that there is no value loss.

"always"... well give some examples of where log charts have been used to calm people in the past, or even just just one example?

Ask anyone who bought bitcoins below $1 if they've had value loss.

A log chart allows one to see structure and detail in data sets that simply cannot be seen on a linear scale.

Not all securities are suitable for log scales, bitcoin is because it is logarithmically growing.

i thought logarithmic scales were for exponential growth

Yes, my bad.

It's exponentially growing.

Or 1/log growing.