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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2032126 times)
cypherdoc (OP)
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August 19, 2014, 02:06:35 PM
 #10801

plot with log scale, seriously



why?  i like linear scale.

ok, no problem. its the same data. however, i think log scale is more informative as a viewing tool. for ex, you will more clearly see that the hashrate growth rate has been dropping since dec.



i understand the math.

personally though, i think your point casts an unnecessarily negative slant to the situation.
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August 19, 2014, 02:20:38 PM
 #10802

i think log scale is more informative as a viewing tool. for ex, you will more clearly see that the hashrate growth rate has been dropping since dec.

That's a good thing, in my opinion. The power allocated to bitcoin is already huge, which would cause the low fees: People don't feel the need for even more mining power, so they don't increase the profitability beyond the block reward. Inflation cost is already high enough (more than 4% for most of the year): https://blockchain.info/charts/cost-per-transaction-percent?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=
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August 19, 2014, 02:26:49 PM
 #10803

plot with log scale, seriously



why?  i like linear scale.

ok, no problem. its the same data. however, i think log scale is more informative as a viewing tool. for ex, you will more clearly see that the hashrate growth rate has been dropping since dec.



i understand the math.

personally though, i think your point casts an unnecessarily negative slant to the situation.

just yinging a bit to your yang
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August 19, 2014, 02:30:38 PM
 #10804

Gold rates are pretty stable and don't vary much. BTC can go extreme hikes and downfalls.
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August 19, 2014, 03:21:22 PM
 #10805

plot with log scale, seriously



why?  i like linear scale.

ok, no problem. its the same data. however, i think log scale is more informative as a viewing tool. for ex, you will more clearly see that the hashrate growth rate has been dropping since dec.



i understand the math.

personally though, i think your point casts an unnecessarily negative slant to the situation.

just yinging a bit to your yang

that's cool
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August 19, 2014, 05:11:28 PM
 #10806

https://bitsharestalk.org/index.php?topic=6990.msg93296#msg93296
cypherdoc (OP)
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August 19, 2014, 05:23:01 PM
 #10807


are we supposed to be impressed?
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August 19, 2014, 05:23:59 PM
 #10808


Not especially. Just informative.
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August 19, 2014, 05:29:07 PM
 #10809

Is it just me or were premiums almost double a year or two ago?

1 oz Gold Bar - Credit Suisse (In Assay)
Any quantity only $21.99 per bar over spot!
- See more at: http://www.apmex.com/product/11950/?&RILT=Link_1oz-CreditSuisse-GoldBar&utm_source=Responsys&utm_medium=email&utm_campaign=Non-Purchaser%20Conversion#sthash.mR23LWlQ.dpuf

1 oz Argor-Heraeus Gold Bars just $17.99 per bar over spot!
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August 19, 2014, 05:30:05 PM
 #10810

Gold seems oldschool, BTC is the future. Hope BTC rises more.
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August 19, 2014, 05:41:51 PM
 #10811

Is it just me or were premiums almost double a year or two ago?

1 oz Gold Bar - Credit Suisse (In Assay)
Any quantity only $21.99 per bar over spot!
- See more at: http://www.apmex.com/product/11950/?&RILT=Link_1oz-CreditSuisse-GoldBar&utm_source=Responsys&utm_medium=email&utm_campaign=Non-Purchaser%20Conversion#sthash.mR23LWlQ.dpuf

1 oz Argor-Heraeus Gold Bars just $17.99 per bar over spot!

on sale, baby!!!  woot!!!
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August 19, 2014, 06:13:20 PM
 #10812


Yes you are correct I skimmed it. Sorry with as many posts I read every day I am bound to misread a part of one at some point. Forgive me.  Grin



You're forgiven. Just to be clear, despite that fact that you're profoundly and dangerously wrong about litecoin, I respect a lot of what you say and the promotion you've done for the bitcoin community in general (with the exception of the multi-year litecoin distraction).




You obviously did not address the word "fight" and how Bitcoin did that.

Nothing new? LOL yes please ignore the fact that you obviously said that Bitcoin fought a battle.

As if it has a conscience.

I would say that is pretty new information in our little debate about comparing Bitcoin and Litecoin and useful metric of comparing them on how "successful" they are. Hence why I said your argument was broken given using that statement.


Ok, seems like irrelevant semantics, so I'll rephrase: PEOPLE who saw the advantages and potentially world-changing nature of a scarce, global, distributed, electronic, frictionless money had to FIGHT from SCRATCH to get many humans to consider the entire concept more than a laughing stock. This seems pretty obvious and undebatable to me... Many former naysayers/skeptics in finance, politics, tech, econ, etc, have come around on BITCOIN.





Full Disclosure: I was one of the few who bought LTC when they were ~$0.005 each. So yes I would know how to call things pretty well (i.e. that it was a bargain back then) even when there was the same type of statements about LTC that are being spouted today (i.e. "Litecoin is dying" blah blah).


Congrats. Your misunderstanding of the overall crypto-ecosystem, and the harm you're doing to everyone, including yourself (ultimately), has luckboxed into a nice payoff for the moment.

I should potentially not say "luckboxed", since you may have an easier time understanding the flawed logic of bandwaggoners and therefore realized early that litecoin was likely to obtain an irrational (judged by longrun fundamentals) temporary success.





The obvious bias to Litecoin that some here have is fine as they are entitled to their opinion but it is somewhat funny when the same things happen to Bitcoin in terms of price suppression those same things are ignored.


I don't know what you're trying to say here.





Just so everyone is aware...

When bitcoin was 2.75 years old it was ~$4-$6.

and

When Litecoin was 2.75 years old it too was ~$4-$6...

So when I say that comparing them using a time metric of life span is less skewed than comparing them in today's terms (as if Litecoin is even competing against Bitcoin ...which it is not in my view)....I actually do have a point...

Given I asked the original question:

...
Where was Bitcoin when it was at 2.75 years old?
...



That's still an invalid way to look at things for the reasons I've outlined (in several different semantic forms now).





Did you even look up your facts before trying to debunk my thought process and argument with your "Bitcoin fought that battle" statement?

Not sure where you think I put forth any incorrect facts...



Anyways, only time will tell, so how about this... I'll bet you 100 LTC to 1 BTC that LTC will be trading for < 0.01 BTC 5 years from now. That is, I'll give you 100 LTC on August 19th 2019 if the price of LTC is >= 0.01 BTC, and you give me 1 BTC if the price of LTC is < 0.01 BTC. Interested? Cypher can escrow, if he's willing.



Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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August 19, 2014, 06:38:33 PM
 #10813


Yes you are correct I skimmed it. Sorry with as many posts I read every day I am bound to misread a part of one at some point. Forgive me.  Grin



You're forgiven. Just to be clear, despite that fact that you're profoundly and dangerously wrong about litecoin, I respect a lot of what you say and the promotion you've done for the bitcoin community in general (with the exception of the multi-year litecoin distraction).




You obviously did not address the word "fight" and how Bitcoin did that.

Nothing new? LOL yes please ignore the fact that you obviously said that Bitcoin fought a battle.

As if it has a conscience.

I would say that is pretty new information in our little debate about comparing Bitcoin and Litecoin and useful metric of comparing them on how "successful" they are. Hence why I said your argument was broken given using that statement.


Ok, seems like irrelevant semantics, so I'll rephrase: PEOPLE who saw the advantages and potentially world-changing nature of a scarce, global, distributed, electronic, frictionless money had to FIGHT from SCRATCH to get many humans to consider the entire concept more than a laughing stock. This seems pretty obvious and undebatable to me... Many former naysayers/skeptics in finance, politics, tech, econ, etc, have come around on BITCOIN.





Full Disclosure: I was one of the few who bought LTC when they were ~$0.005 each. So yes I would know how to call things pretty well (i.e. that it was a bargain back then) even when there was the same type of statements about LTC that are being spouted today (i.e. "Litecoin is dying" blah blah).


Congrats. Your misunderstanding of the overall crypto-ecosystem, and the harm you're doing to everyone, including yourself (ultimately), has luckboxed into a nice payoff for the moment.

I should potentially not say "luckboxed", since you may have an easier time understanding the flawed logic of bandwaggoners and therefore realized early that litecoin was likely to obtain an irrational (judged by longrun fundamentals) temporary success.





The obvious bias to Litecoin that some here have is fine as they are entitled to their opinion but it is somewhat funny when the same things happen to Bitcoin in terms of price suppression those same things are ignored.


I don't know what you're trying to say here.





Just so everyone is aware...

When bitcoin was 2.75 years old it was ~$4-$6.

and

When Litecoin was 2.75 years old it too was ~$4-$6...

So when I say that comparing them using a time metric of life span is less skewed than comparing them in today's terms (as if Litecoin is even competing against Bitcoin ...which it is not in my view)....I actually do have a point...

Given I asked the original question:

...
Where was Bitcoin when it was at 2.75 years old?
...



That's still an invalid way to look at things for the reasons I've outlined (in several different semantic forms now).





Did you even look up your facts before trying to debunk my thought process and argument with your "Bitcoin fought that battle" statement?

Not sure where you think I put forth any incorrect facts...



Anyways, only time will tell, so how about this... I'll bet you 100 LTC to 1 BTC that LTC will be trading for < 0.01 BTC 5 years from now. That is, I'll give you 100 LTC on August 19th 2019 if the price of LTC is >= 0.01 BTC, and you give me 1 BTC if the price of LTC is < 0.01 BTC. Interested? Cypher can escrow, if he's willing.




don't take it, Noah.

Noah, please make sure you step back from your business involvement as the leading seller of physical Litecoins as you view this debate.  we all know you've done tremendous work in that arena and i am the proud owner of a set of LTC you so generously gave me.  but it's quite possible that the entire LTC arena can go caput like we've been warning if indeed our theories of a one currency to rule all plays out.

don't catch a falling knife.
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August 19, 2014, 06:49:43 PM
 #10814

https://twitter.com/cypherdoc2/status/501803060495409152
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August 19, 2014, 07:04:54 PM
 #10815

SLW fails to maintain clearance of resistance while silver continues to collapse.  Bad sign for metals in general:

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August 19, 2014, 07:38:11 PM
 #10816

get the hell outta my way.  seriously:



This chart keeps amazing me. It's just... I mean... where will it end?

Fuck Moore, we're doubling every 2.5 months.

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August 19, 2014, 07:45:17 PM
 #10817

breaking up.  step on it.
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August 19, 2014, 07:46:10 PM
 #10818


This chart keeps amazing me. It's just... I mean... where will it end?


after Bitcoin takes over the world.
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August 19, 2014, 08:02:16 PM
 #10819

get the hell outta my way.  seriously:



This chart keeps amazing me. It's just... I mean... where will it end?

Fuck Moore, we're doubling every 2.5 months.



It's more like doubling every 1-1.5months avg over the past year, isn't it? If it's really 2.5mo, I may have some new asicminer equipment to buy...

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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August 19, 2014, 09:00:31 PM
 #10820


Yes you are correct I skimmed it. Sorry with as many posts I read every day I am bound to misread a part of one at some point. Forgive me.  Grin



You're forgiven. Just to be clear, despite that fact that you're profoundly and dangerously wrong about litecoin, I respect a lot of what you say and the promotion you've done for the bitcoin community in general (with the exception of the multi-year litecoin distraction).




You obviously did not address the word "fight" and how Bitcoin did that.

Nothing new? LOL yes please ignore the fact that you obviously said that Bitcoin fought a battle.

As if it has a conscience.

I would say that is pretty new information in our little debate about comparing Bitcoin and Litecoin and useful metric of comparing them on how "successful" they are. Hence why I said your argument was broken given using that statement.


Ok, seems like irrelevant semantics, so I'll rephrase: PEOPLE who saw the advantages and potentially world-changing nature of a scarce, global, distributed, electronic, frictionless money had to FIGHT from SCRATCH to get many humans to consider the entire concept more than a laughing stock. This seems pretty obvious and undebatable to me... Many former naysayers/skeptics in finance, politics, tech, econ, etc, have come around on BITCOIN.





Full Disclosure: I was one of the few who bought LTC when they were ~$0.005 each. So yes I would know how to call things pretty well (i.e. that it was a bargain back then) even when there was the same type of statements about LTC that are being spouted today (i.e. "Litecoin is dying" blah blah).


Congrats. Your misunderstanding of the overall crypto-ecosystem, and the harm you're doing to everyone, including yourself (ultimately), has luckboxed into a nice payoff for the moment.

I should potentially not say "luckboxed", since you may have an easier time understanding the flawed logic of bandwaggoners and therefore realized early that litecoin was likely to obtain an irrational (judged by longrun fundamentals) temporary success.





The obvious bias to Litecoin that some here have is fine as they are entitled to their opinion but it is somewhat funny when the same things happen to Bitcoin in terms of price suppression those same things are ignored.


I don't know what you're trying to say here.





Just so everyone is aware...

When bitcoin was 2.75 years old it was ~$4-$6.

and

When Litecoin was 2.75 years old it too was ~$4-$6...

So when I say that comparing them using a time metric of life span is less skewed than comparing them in today's terms (as if Litecoin is even competing against Bitcoin ...which it is not in my view)....I actually do have a point...

Given I asked the original question:

...
Where was Bitcoin when it was at 2.75 years old?
...



That's still an invalid way to look at things for the reasons I've outlined (in several different semantic forms now).





Did you even look up your facts before trying to debunk my thought process and argument with your "Bitcoin fought that battle" statement?

Not sure where you think I put forth any incorrect facts...



Anyways, only time will tell, so how about this... I'll bet you 100 LTC to 1 BTC that LTC will be trading for < 0.01 BTC 5 years from now. That is, I'll give you 100 LTC on August 19th 2019 if the price of LTC is >= 0.01 BTC, and you give me 1 BTC if the price of LTC is < 0.01 BTC. Interested? Cypher can escrow, if he's willing.




1. How am I harming anyone? I only give my opinion and look at the facts. People can make their own decision. So thank you for trying to make me out to be someone who is harming anyone at all. Please get that straight buddy.

2. Your bet is in my view so far out that no one knows where things will be ~5 years from now. Plus i'm not to take long term bets as it isn't my style. If you know and appreciate what I've done on the forums then you will see I've successfully won several bets and made several really good calls so my betting you proves nothing other than that I would stoop to your level, not to mention the false accusations you made above about me "harming" people.

3. Take a look back at my 2.75 year comparison and tell me I am not wrong on the values I gave you based on my own knowledge of the price action.

WE are on the same side but obviously we disagree on a "fair" metric of comparing BTC and LTC. There really isn't much else to say but the fact that you have your points and I have mine.

Oh and there is a huge difference in what you rephrased your sentence to mean in your original post above than what it actually said. We are comparing Bitcoin and Litecoin...not its supporters and how much they "fought" to do such and such. Please stay on the debated topic as BTC and LTC both do not have the consciousness to fight nor anything else besides what it was designed to do. So don't kid yourself there in your argument there.

Who knows the future of BTC or LTC? No one. But I can say one thing for sure that crypto currency/digital currency is not going to be going away and to believe that only ONE will exist or be "successful" is your own opinion.

@Cypher thanks for your post. I did not take the bet given how long it was for and on top of the fact that I'm being accused of "harming" people by supporting Litecoin.

In the end this is all fun for me. I've made a pretty penny in the meantime as well as learned a lot in the process.

Obviously we all will at some time disagree on points and beliefs of what will happen in the future but to make accusations that are unmerited is just childish.

As with Cypher I do not agree with everything he has to say but he does have some good points which is why I am a big supporter of his despite my past with him which is in the past.  Wink

I am going to drop the topic as obviously the debate went off course from simply BTC and LTC and now is on to ...its supporters and how they fought blah blah blah. lol ....See what I did there?  Roll Eyes

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