cypherdoc (OP)
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December 15, 2014, 10:24:12 PM |
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it means gold's SOV function days are numbered.
Or paper gold's SOV function the paper gold was the entire reason for the price ramp in the first place.
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msin
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December 15, 2014, 10:57:40 PM |
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The more people are paid in BTC for services, employment, etc. the higher the price of BTC will go.
They have to be paid in BTC, and they have to save in BTC. Otherwise it won't work. Yes, exactly, if they are paid in BTC, save their BTC, it will create an extremely scarce market.
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smooth
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December 15, 2014, 11:07:05 PM |
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At ~3600 BTC/day, the current price of ~$350 / BTC requires ~$1.3 million of new capital (money, energy for hashing, etc) to enter the system. Your list of capital types should include products and services. Every person who sells their productivity for Bitcoin and does not immediately spend what they earn is contributing to that ~$1.3 million/day requirement. The concept I like to focus on is accumulation (of holding). Every bit of that new 25 BTC mined every 10 minutes has to find a home with someone willing to hold it. It doesn't really matter if that comes from miners holding it, investors buying it, or people trading goods or services and holding the coins they receive. In reality all of these play a role, and they all involve exchange of other resources for coins, but we can be sure that aggregate accumulation is ~$1.3m per day. It is indeed helpful to price discovery and liquidity that this forces a constant market clearing process. It is also no surprise that the scam altcoin market has moved to ICOs and proof-of-stake which lack such a process.
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smooth
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December 15, 2014, 11:17:22 PM |
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it means gold's SOV function days are numbered.
Or paper gold's SOV function Correct. Paper gold has absolutely no advantages over BTC. At least physical gold you might imagine retains value if there is a catastrophic failure of technology (solar flare, communications infrastructure brought down hard by hacking, etc.), breakdown of rule of law (arguably has already happened), etc. Paper gold, forget it.
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sgbett
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December 16, 2014, 12:27:30 AM |
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The more people are paid in BTC for services, employment, etc. the higher the price of BTC will go.
They have to be paid in BTC, and they have to save in BTC. Otherwise it won't work. Yes, exactly, if they are paid in BTC, save their BTC, it will create an extremely scarce market. If I can dodge a LambShop for a second (becoming increasingly rabid of late I notice), this is exactly what all the 'permabulls' see as being almost inevitable. Eventually everything will be in BTC. Then the USD/BTC price becomes irrelevant, apart from roughly what it was just before everyone went full crypto. 5 years ago nobody could even imagine a world where money was anything other than what it currently was. Fast forward and there is a massive groundswell of people who now see what it could be. You either see it and panic you are too late, or you don't see it and think you can make a few "oldbucks" off the rubes by out-trading them. Call me a rube, I'm going all the way. Once it resumes its uptrend above the last ATH I'll skim as a hedge (even though my gut tells me not to bother, my math tells me I should) [thats my "full disclosure"] Still one the most insanely +EV binary bets I have ever come across.
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"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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msin
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December 16, 2014, 12:42:59 AM |
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The more people are paid in BTC for services, employment, etc. the higher the price of BTC will go.
They have to be paid in BTC, and they have to save in BTC. Otherwise it won't work. Yes, exactly, if they are paid in BTC, save their BTC, it will create an extremely scarce market. If I can dodge a LambShop for a second (becoming increasingly rabid of late I notice), this is exactly what all the 'permabulls' see as being almost inevitable. Eventually everything will be in BTC. Then the USD/BTC price becomes irrelevant, apart from roughly what it was just before everyone went full crypto. 5 years ago nobody could even imagine a world where money was anything other than what it currently was. Fast forward and there is a massive groundswell of people who now see what it could be. You either see it and panic you are too late, or you don't see it and think you can make a few "oldbucks" off the rubes by out-trading them. Call me a rube, I'm going all the way. Once it resumes its uptrend above the last ATH I'll skim as a hedge (even though my gut tells me not to bother, my math tells me I should) [thats my "full disclosure"] Still one the most insanely +EV binary bets I have ever come across. I agree, although I don't know if it's inevitable. When you start to see companies paying their employees in BTC, then you should really hold on to your precious BTC.
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cypherdoc (OP)
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December 16, 2014, 02:39:39 AM |
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cypherdoc (OP)
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December 16, 2014, 02:41:33 AM |
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where is BTC-e? breaking out:
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cypherdoc (OP)
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December 16, 2014, 04:11:55 AM |
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junk is junk:
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cypherdoc (OP)
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December 16, 2014, 04:14:36 AM |
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stocks plunging round the world
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cypherdoc (OP)
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December 16, 2014, 04:22:55 AM |
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cypherdoc (OP)
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December 16, 2014, 04:26:29 AM |
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he's getting destroyed with downvotes.
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solex
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100 satoshis -> ISO code
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December 16, 2014, 04:28:53 AM |
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he's getting destroyed with downvotes. Last time he apologized and explained his error. How many times can he do that?
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cypherdoc (OP)
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December 16, 2014, 04:43:46 AM |
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he's getting destroyed with downvotes. Last time he apologized and explained his error. How many times can he do that? he'll never change. so i guess for as long as he's around.
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smoothie
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LEALANA Bitcoin Grim Reaper
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December 16, 2014, 04:44:07 AM |
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he's getting destroyed with downvotes. Last time he apologized and explained his error. How many times can he do that? Lukey-boy still at his antics. No surprise there.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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cypherdoc (OP)
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December 16, 2014, 01:07:03 PM |
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cypherdoc (OP)
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December 16, 2014, 01:13:44 PM |
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holomen
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December 16, 2014, 01:19:09 PM |
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Volume is really low, Though my current market sentiments agrees to your opinion.
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