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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2008779 times)
FNG
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September 19, 2014, 08:56:50 PM
 #12401

well under $6000 as that amount is not "throw away" money for anyone who is still salaried.
Depends on salary.
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September 19, 2014, 09:02:14 PM
 #12402

Before the agricultural revolution, it took humanity about one million years on average to develop enough infrastructure/capability to support an additional one million humans living at subsistence levels. After the agricultural revolution, that changed to talking only a few hundred years. Now, after the industrial revolution, that takes 90 minutes on average.

There are huge side effects:
http://www.worldwildlife.org/threats/soil-erosion-and-degradation

That's important but the kicker is overall economic growth, we're moving from a meme of more to a meme of better. The problem is the centers of control are working from the ideology of Co opting / controlling the supply of more. Monopolies have no value when people find alternatives,  micro electronics, alternate energy and food security technologies like aquaponics (oh and money) are reshaping everything.

Forget it, Adrian.

In economics, the Jevons paradox (/ˈdʒɛvənz/; sometimes Jevons effect) is the proposition that as technology progresses, the increase in efficiency with which a resource is used tends to increase (rather than decrease) the rate of consumption of that resource.[1] In 1865, the English economist William Stanley Jevons observed that technological improvements that increased the efficiency of coal-use led to the increased consumption of coal in a wide range of industries. He argued that, contrary to common intuition, technological improvements could not be relied upon to reduce fuel consumption.[2]

The issue has been re-examined by modern economists studying consumption rebound effects from improved energy efficiency. In addition to reducing the amount needed for a given use, improved efficiency lowers the relative cost of using a resource, which tends to increase the quantity of the resource demanded, potentially counteracting any savings from increased efficiency. Additionally, increased efficiency accelerates economic growth, further increasing the demand for resources. The Jevons paradox occurs when the effect from increased demand predominates, causing resource use to increase


http://en.wikipedia.org/wiki/Jevons_paradox

I'm aware of Jevons_paradox, but much smarter people than me (Satosi) know it's only supply and demand that brings it into equilibrium. The divergence in usage as a result of innovation also express it's self in an economy as art and culture ultimately this is enriched experiences.

We won't find a comfortable equilibrium with constant economic growth as managed under the target of central banks.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
cypherdoc
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September 19, 2014, 09:02:32 PM
 #12403

well under $6000 as that amount is not "throw away" money for anyone who is still salaried.
Depends on salary.

I already addressed this. He's got a good day job.
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September 19, 2014, 09:39:56 PM
 #12404

well under $6000 as that amount is not "throw away" money for anyone who is still salaried.
Depends on salary.

I already addressed this. He's got a good day job.

ok, let's do it your way.  let's say he's got a low salary and only put $600 to buy 1000BTC.

at 300,000-400,000% return, which he's already claimed, he'd turn that into $1.8M-2.4M.  see, he's rich.

btw, i don't get it.  this is the title of his thread  "#1 Bitcoin and Altcoin Price Forecasts (+1,492% gains, +750% more than B&H)" and i think he downward adjusted those numbers based on other ppl's criticism.
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September 19, 2014, 09:50:08 PM
 #12405

you forget that I distributed a lot of coins via donations along the way and bitcoinica hack

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September 19, 2014, 09:53:42 PM
 #12406

you forget that I distributed a lot of coins via donations along the way and bitcoinica hack

or maybe given all the inconsistencies one finds scattered about in your claims, it's simply a matter of false advertising?
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September 20, 2014, 03:18:38 AM
 #12407

so who sold under $400?
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September 20, 2014, 03:28:06 AM
 #12408

recap end of day silver. 

geezuz, just look at that!  icebreaker and Goat are gonna be rich!  this is what happens when you complete the 3rd stage of criticality:



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September 20, 2014, 03:34:24 AM
 #12409

actually, this one is much prettier where i've drawn the 2 yr chart with the 3rd breach @18.17.  note how red candle just punched right thru on volume.  just beautiful.  no wonder ZSL simultaneously punched UP thru 2 resistance levels in the same day:

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September 20, 2014, 03:44:05 AM
 #12410

note the $DXY finished just a smidge above resistance at the close.  thats good for the USD.  let's see if we blast off Monday morning as technically it's freely cleared this level.  right now, i think the daily cycle bottom got put in on 9/16.  if so, it should blast off UP, while driving everything else down:

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September 20, 2014, 03:57:47 AM
 #12411

uh oh.  moar blackhole sh*t:

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September 20, 2014, 04:00:47 AM
 #12412

uh oh
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September 20, 2014, 04:07:07 AM
 #12413

If gold goes lower i will trade some bitcoins for some ounces of it. Cool

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September 20, 2014, 04:11:01 AM
 #12414

If gold goes lower i will trade some bitcoins for some ounces of it. Cool

that's the spirit.

just make sure you wear thick gloves.
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September 20, 2014, 04:19:44 AM
 #12415

nice OKCoin bid wall there.
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September 20, 2014, 04:20:06 AM
 #12416

oh yes
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September 20, 2014, 04:21:32 AM
 #12417

oh yes

listen to me.  i sound like i'm having an orgasm.
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September 20, 2014, 05:58:42 AM
 #12418

The market cap is now below both "Metcalfe Value" estimates (num TXs  / num addrs)--something that hasn't happened since early 2013.  Note that I'm taking the 7-day moving average of each time series, so the recent drop in price hasn't been fully "averaged in" (i.e., if the price stays low, the divergence between Metcalfe value and market cap will grow).





Peter R. much appreciated for this update Smiley

Have you considered fitting onto a long term network adoption curve? Like say a sigmoid with final market cap at $2 trillion? Or similarly with a final target saturated transaction network or similar?

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September 20, 2014, 07:08:27 AM
 #12419

2 trillion is either way too high or way to low.   If bitcoin passes 1 trillion valuation then it will be worth more then any single public stock so it will likely go on to at least duplicate/replace golds value which is about 10 trillion.
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September 20, 2014, 07:15:41 AM
 #12420

Before the agricultural revolution, it took humanity about one million years on average to develop enough infrastructure/capability to support an additional one million humans living at subsistence levels. After the agricultural revolution, that changed to talking only a few hundred years. Now, after the industrial revolution, that takes 90 minutes on average.

There are huge side effects:
http://www.worldwildlife.org/threats/soil-erosion-and-degradation

That's important but the kicker is overall economic growth, we're moving from a meme of more to a meme of better. The problem is the centers of control are working from the ideology of Co opting / controlling the supply of more. Monopolies have no value when people find alternatives,  micro electronics, alternate energy and food security technologies like aquaponics (oh and money) are reshaping everything.

Forget it, Adrian.

In economics, the Jevons paradox (/ˈdʒɛvənz/; sometimes Jevons effect) is the proposition that as technology progresses, the increase in efficiency with which a resource is used tends to increase (rather than decrease) the rate of consumption of that resource.[1] In 1865, the English economist William Stanley Jevons observed that technological improvements that increased the efficiency of coal-use led to the increased consumption of coal in a wide range of industries. He argued that, contrary to common intuition, technological improvements could not be relied upon to reduce fuel consumption.[2]

The issue has been re-examined by modern economists studying consumption rebound effects from improved energy efficiency. In addition to reducing the amount needed for a given use, improved efficiency lowers the relative cost of using a resource, which tends to increase the quantity of the resource demanded, potentially counteracting any savings from increased efficiency. Additionally, increased efficiency accelerates economic growth, further increasing the demand for resources. The Jevons paradox occurs when the effect from increased demand predominates, causing resource use to increase


http://en.wikipedia.org/wiki/Jevons_paradox

I'm aware of Jevons_paradox, but much smarter people than me (Satosi) know it's only supply and demand that brings it into equilibrium. The divergence in usage as a result of innovation also express it's self in an economy as art and culture ultimately this is enriched experiences.

We won't find a comfortable equilibrium with constant economic growth as managed under the target of central banks.


With or without central banks: "a comfortable equilibrium with constant economic growth" is an oxymoron.
An economy is a collectivist organisation (state bastard), and:

"Essentially, the economy is an engine that transforms resources into waste."

http://www.financialsense.com/contributors/ugo-bardi/2011/07/22/entropy-peak-oil-and-stoic-philosophy-part-2
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