Bitcoin Forum
July 26, 2017, 12:48:28 PM *
News: BIP91 seems stable: there's probably only slightly increased risk of confirmations disappearing. You should still prepare for Aug 1.
 
   Home   Help Search Donate Login Register  
Poll
Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

Pages: « 1 ... 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 [1063] 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 ... 1558 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1938776 times)
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
February 13, 2015, 11:00:37 AM
 #21241

1501073308
Hero Member
*
Offline Offline

Posts: 1501073308

View Profile Personal Message (Offline)

Ignore
1501073308
Reply with quote  #2

1501073308
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Wekkel
Legendary
*
Offline Offline

Activity: 1554



View Profile
February 13, 2015, 11:56:46 AM
 #21242

We need $350+ for a meaningful price signal.

Like this post? you can tip me (BTC) 18j7UBNfhWWfvwGwrtzWfUrp1v6RDerFkY or (XEM) NBXGH5-MXQPNL-T5TA3R-QCQYUX-3FIEXC-LGIKGT-H7XJ
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
February 13, 2015, 12:21:53 PM
 #21243

...
Everybody who says dollar is more "stable" than gold is a sad, misinformed person. Dollar is stable strictly when measured in dollars...

No, the dollar is stable in terms of its buying power.
With USD, I can be fairly certain my food basket will to cost me as much as it did ...oh, let's say... a day ago.
With Bitcoin, the price is calculated on the spot, and is good for exactly 10 minutes.
Ten minutes.
Ten.
Price stays constant for ten (TEN) minutes.
Now if USD prices of goods changed every ten minutes, while BTC prices remained constant, you'd have a point.  In the meantime, back you go.


Get well soon!
NotHatinJustTrollin
Full Member
***
Offline Offline

Activity: 126


View Profile
February 13, 2015, 12:37:51 PM
 #21244

Great paper, this guy gets it:


http://www.oecd.org/daf/fin/financial-markets/The-Bitcoin-Question-2014.pdf


"The Bitcoin Question: CURRENCY VERSUS TRUST-LESS TRANSFER
TECHNOLOGY"




As always:
Distributed ledger technologies = the internet
Cryptocurrencies = pets.com



 Smiley
sidhujag
Legendary
*
Offline Offline

Activity: 1526


View Profile
February 13, 2015, 12:43:46 PM
 #21245

U cant compare usd and bitcoin in terms of volatility not fair comparison.. however lets try:

Usd volume daily $4 trillion
btc volume daily $4 million

Usd basket volatility = 0.1% daily
btc volatility = 10% daily

Btc adjusted volatility if volume was $4 trilliion = 0.000001%

Now which one looks more stable???

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
February 13, 2015, 12:59:05 PM
 #21246

U cant compare usd and bitcoin in terms of volatility not fair comparison.. however lets try:

Usd volume daily $4 trillion
btc volume daily $4 million

Usd basket volatility = 0.1% daily
btc volatility = 10% daily

Comparing USD volatility to BTC?  You're thinking of that batshit crazy rpietila.  I agree, laughable.
I'm pretty much with you on BTC being a hundred times as volatile as USD, but caveat:  The prices in my grocery store aren't adjusted every ten minutes, not even by .1% Cheesy

Quote
Btc adjusted volatility if volume was $4 trilliion = 0.000001%

Now which one looks more stable???

If BTC had volume of $4trillion, it would be USD, and thus stable.  It's not, so it ain't.
 
As far as your "adjusted volatility," you've clearly been to universities, but I'm afraid it don't work like you think it does Cheesy
Zangelbert Bingledack
Legendary
*
Offline Offline

Activity: 1036


View Profile
February 13, 2015, 02:27:29 PM
 #21247


Awesome article, exactly what is missing from the central planning oriented dev talk. Can we get a visual version of this argument? I suspect the two-part article's length and weightiness is limiting its virality as of now.

When you consider it for a bit, it starts to seem strikingly obvious: node operators offer a valuable service to miners and users, and although right now they do so for free, when and if it starts to be difficult for them to do so, a market will form on its own as node operators and other interested parties negotiate their own rules and fees.

Blocksize should have no hard limit. As with everything else, it should be economically limited. The trick is not to panic about "how the market could possibly handle it without central planning." No one is smart enough to figure out all the little rules and stipulations for each economic relationship, let alone do so in advance, let alone get consensus on such rules. Just remove the cap and let the market work. Babying the market with paternalism in the form of artificial scarcity just leaves the space open for competitors to stick their oars in.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
February 13, 2015, 02:33:53 PM
 #21248

This is a huge deal. One of the most successful bitcoin companies meets one of the most successful business models= BOOM :

https://www.coinbase.com/apps/54db4e971e21224be40004aa
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
February 13, 2015, 03:58:44 PM
 #21249

Bullshit

ain't that perrrrty:

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
February 13, 2015, 04:16:21 PM
 #21250


"i love bullshit"


all these boys refuse to listen to you.  why is that?:

Preet Bharara "there is nothing wrong with Bitcoin":

http://www.msnbc.com/the-cycle/watch/why-bitcoin-is-important-398177347735

Larry Summers Likes the Idea of Bitcoin

http://dealbook.nytimes.com/2015/02/12/larry-summers-likes-the-idea-of-bitcoin/?_r=1

Edmund Moy Former Head of the US Mint:

The Currency Revolution, Courtesy of Bitcoin

http://edmoy.com/the-currency-revolution-courtesy-of-bitcoin/
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
February 13, 2015, 04:38:47 PM
 #21251


"[Bitcoin] is a mirage."--

Mine's bigger Cool
sidhujag
Legendary
*
Offline Offline

Activity: 1526


View Profile
February 13, 2015, 04:52:24 PM
 #21252

U cant compare usd and bitcoin in terms of volatility not fair comparison.. however lets try:

Usd volume daily $4 trillion
btc volume daily $4 million

Usd basket volatility = 0.1% daily
btc volatility = 10% daily

Comparing USD volatility to BTC?  You're thinking of that batshit crazy rpietila.  I agree, laughable.
I'm pretty much with you on BTC being a hundred times as volatile as USD, but caveat:  The prices in my grocery store aren't adjusted every ten minutes, not even by .1% Cheesy

Quote
Btc adjusted volatility if volume was $4 trilliion = 0.000001%

Now which one looks more stable???

If BTC had volume of $4trillion, it would be USD, and thus stable.  It's not, so it ain't.
 
As far as your "adjusted volatility," you've clearly been to universities, but I'm afraid it don't work like you think it does Cheesy
Once btc has volume of $4 trillion of purchasing power today in btc then prices in the stores will be in btc thus volatility is just on the market and that low value that i came up with... Because of limited supply volatility will tend towards 0 as population increases

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
Wekkel
Legendary
*
Offline Offline

Activity: 1554



View Profile
February 13, 2015, 05:04:55 PM
 #21253

Thank God honey badger doesn't care for naysayers. It just doesn't.

Like this post? you can tip me (BTC) 18j7UBNfhWWfvwGwrtzWfUrp1v6RDerFkY or (XEM) NBXGH5-MXQPNL-T5TA3R-QCQYUX-3FIEXC-LGIKGT-H7XJ
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
February 13, 2015, 05:18:57 PM
 #21254

...
Once btc has volume of $4 trillion of purchasing power today in btc then prices in the stores will be in btc thus volatility is just on the market and that low value that i came up with... Because of limited supply volatility will tend towards 0 as population increases

If my shitcoin had "$4 trillion of purchasing power," it wouldn't be the shitcoin that it is, would it?  How many different ways must this be restated?

TL;DR: Here's your reasoning:
"Once pigs seat more people than an A380 & start to fly just as fast, they would give Airbus some competition."
True.  They would.  Caveat:  They don't, and Airbus ain't worried.  Ain't likely to, either.

@Wekkel: Make that "didn't care."
sidhujag
Legendary
*
Offline Offline

Activity: 1526


View Profile
February 13, 2015, 05:38:49 PM
 #21255

...
Once btc has volume of $4 trillion of purchasing power today in btc then prices in the stores will be in btc thus volatility is just on the market and that low value that i came up with... Because of limited supply volatility will tend towards 0 as population increases

If my shitcoin had "$4 trillion of purchasing power," it wouldn't be the shitcoin that it is, would it?  How many different ways must this be restated?

TL;DR: Here's your reasoning:
"Once pigs seat more people than an A380 & start to fly just as fast, they would give Airbus some competition."
True.  They would.  Caveat:  They don't, and Airbus ain't worried.  Ain't likely to, either.

@Wekkel: Make that "didn't care."

A token with inherent utility is better than the one without it. Market will adjust on its own.

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
Wekkel
Legendary
*
Offline Offline

Activity: 1554



View Profile
February 13, 2015, 05:42:23 PM
 #21256

There are no guarantees in life. Some take their chances and act. Others just try to keep a player down. Others never knew what hit them.

So be it.

Like this post? you can tip me (BTC) 18j7UBNfhWWfvwGwrtzWfUrp1v6RDerFkY or (XEM) NBXGH5-MXQPNL-T5TA3R-QCQYUX-3FIEXC-LGIKGT-H7XJ
NotLambchop
Sr. Member
****
Offline Offline

Activity: 378


View Profile
February 13, 2015, 05:44:04 PM
 #21257

>A token with inherent utility

WTF does that even mean?  

@Wekkel re. "Some take their chances and act":  You're just running with scissors.  Nothing laudable about that.

inca
Legendary
*
Offline Offline

Activity: 1148


View Profile
February 13, 2015, 06:20:36 PM
 #21258

I wonder when NLC panic buys Smiley
Wekkel
Legendary
*
Offline Offline

Activity: 1554



View Profile
February 13, 2015, 07:23:31 PM
 #21259

Time praying for lost souls was better spent in all those altcoin threads back in 2013. But I'll leave this thread to the OP again for the real info.

Like this post? you can tip me (BTC) 18j7UBNfhWWfvwGwrtzWfUrp1v6RDerFkY or (XEM) NBXGH5-MXQPNL-T5TA3R-QCQYUX-3FIEXC-LGIKGT-H7XJ
sidhujag
Legendary
*
Offline Offline

Activity: 1526


View Profile
February 13, 2015, 08:23:32 PM
 #21260

>A token with inherent utility

WTF does that even mean?  

@Wekkel re. "Some take their chances and act":  You're just running with scissors.  Nothing laudable about that.


"Token money is money made from tokens of some form, as opposed to account money. Most modern coins used in circulation are token money, as are paper notes."

Bitcoin = Token with utility BUILT-IN to its protocol. If you don't understand that sorry I can't help you.

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
Pages: « 1 ... 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 [1063] 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 ... 1558 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!