Everything except the price trend is going fantastic

[lontivero]

The overall 2-year trend resumed in May:

For a dose of reality check this one out.

https://blockchain.info/charts/estimated-transaction-volume?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

unchanged for 2.5 years

It doesn't depend on the price, unbelievable! How can that be possible? I mean, it requires that BTC volumen is in function of the price. Higher price -> lower BTC volumen.

 

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[oda.krell]

^
TLDR:
Bitcoin monetary base inflation = ~10% YTD
Bitcoin price inflation               = ~65% YTD

a) Agreed (approximately) on the first number, the "monetary base inflation". Even if some crypto enthusiasts like to point to the finite total no. of coins that will ever exist and think of the existing (and growing) base of mined coins as irrelevant, I personally think it is correct to call Bitcoin's monetary base "inflationary" during its bootstrapping/mining phase.

Note that the yearly inflation declines over time. For now though, it's still above 10%:
2013: ~15%
2014: ~13%

b) Your "price inflation" is bullshit of course. Otherwise, I'll go back one more year, and suddenly Bitcoin becomes hugely deflationary. Meaning, I don't get to cherry pick the periods of the market where BTC/USD hugely increased, so you don't get to cherry pick the period where it decreases. The market valuation of one bitcoin is simply not the issue here - otherwise, I point to market valuation since inception and point out we're still up more than 100,000%.

c) Finally: the fact that, despite the significant inflation of the monetary base, we went from a 1 million USD "market cap" in 2011 to a 5 billion "market cap" currently should probably tell you something, but I know it won't :3

[NotLambchop]

...
b) Your "price inflation" is bullshit of course. Otherwise, I'll go back one more year, and suddenly Bitcoin becomes hugely deflationary. Meaning, I don't get to cherry pick the periods of the market where BTC/USD hugely increased, so you don't get to cherry pick the period where it decreases. The market valuation of one bitcoin is simply not the issue here - otherwise, I point to market valuation since inception and point out we're still up more than 100,000%....

"Cherry pick the period"?  You mean choosing a year when discussing yearly inflation rate? 

[turvarya]

...
b) Your "price inflation" is bullshit of course. Otherwise, I'll go back one more year, and suddenly Bitcoin becomes hugely deflationary. Meaning, I don't get to cherry pick the periods of the market where BTC/USD hugely increased, so you don't get to cherry pick the period where it decreases. The market valuation of one bitcoin is simply not the issue here - otherwise, I point to market valuation since inception and point out we're still up more than 100,000%....

"Cherry pick the period"?  You mean choosing a year when discussing yearly inflation rate? 

Bitcoin/USD-exchange rate is just not stable enough to make a serious statement about that.
Such discussions are just dumb ...

[sidhujag]

...
b) Your "price inflation" is bullshit of course. Otherwise, I'll go back one more year, and suddenly Bitcoin becomes hugely deflationary. Meaning, I don't get to cherry pick the periods of the market where BTC/USD hugely increased, so you don't get to cherry pick the period where it decreases. The market valuation of one bitcoin is simply not the issue here - otherwise, I point to market valuation since inception and point out we're still up more than 100,000%....

"Cherry pick the period"?  You mean choosing a year when discussing yearly inflation rate? 

Yup the year u created this account to try to scare noobs into selling before u buy and dissapear back to your normal account, that year

[inca]

...
b) Your "price inflation" is bullshit of course. Otherwise, I'll go back one more year, and suddenly Bitcoin becomes hugely deflationary. Meaning, I don't get to cherry pick the periods of the market where BTC/USD hugely increased, so you don't get to cherry pick the period where it decreases. The market valuation of one bitcoin is simply not the issue here - otherwise, I point to market valuation since inception and point out we're still up more than 100,000%....

"Cherry pick the period"?  You mean choosing a year when discussing yearly inflation rate? 

Yup the year u created this account to try to scare noobs into selling before u buy and dissapear back to your normal account, that year

Ha.

[oda.krell]

...
b) Your "price inflation" is bullshit of course. Otherwise, I'll go back one more year, and suddenly Bitcoin becomes hugely deflationary. Meaning, I don't get to cherry pick the periods of the market where BTC/USD hugely increased, so you don't get to cherry pick the period where it decreases. The market valuation of one bitcoin is simply not the issue here - otherwise, I point to market valuation since inception and point out we're still up more than 100,000%....

"Cherry pick the period"?  You mean choosing a year when discussing yearly inflation rate?  

Choosing the 1 out of 4.5 years of trading in which price is (mainly) is down to discuss, in rather general terms, the "yearly inflation rate"?

That's cherry picking, absolutely.

Average over the entire time, or break it down by year (starting mid/late 2010)

[NotLambchop]

...
b) Your "price inflation" is bullshit of course. Otherwise, I'll go back one more year, and suddenly Bitcoin becomes hugely deflationary. Meaning, I don't get to cherry pick the periods of the market where BTC/USD hugely increased, so you don't get to cherry pick the period where it decreases. The market valuation of one bitcoin is simply not the issue here - otherwise, I point to market valuation since inception and point out we're still up more than 100,000%....

"Cherry pick the period"?  You mean choosing a year when discussing yearly inflation rate?  

Choosing the 1 out of 4.5 years of trading in which price is (mainly) is down to discuss, in rather general terms, the "yearly inflation rate"?

That's cherry picking, absolutely.

Average over the entire time, or break it down by year (starting mid/late 2010)

You trying to arguing such nonsense borders on trolling, oda.krell.  I refuse to believe you can't understand how absurd your stance is.  When talking about USD yearly inflation, do you average it over the entire life of the dollar?  Or do you use the recent year data?

The attempt to include Bitcoin's heyday is interesting, though.  If you average Bitcoin over it's entire lifespan, you will have to include the price at Bitcoin's inception, which would be 0 (zero), any other point would be rather arbitrary, or "cherry picking," as you put it.  With zero as a starting point, any increase in BTC/USD price, percentage-wise, is infinity.  Even if the price went back down to $0.01/BTC.

So yeah, Bitcoin's value has increased infinitely since its inception.  Good point.
In the past year, tho, the price has tanked by ~65%.
That's some serious sound money.

  ~Happy Investing!

[inca]

I may have forgotten Lambchop, but I cannot recall you having any argument for why the price will drop in the medium term, other than "see the recent chart".

Enlighten us

[Raystonn]

The overall 2-year trend resumed in May:

For a dose of reality check this one out.

https://blockchain.info/charts/estimated-transaction-volume?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

unchanged for 2.5 years

That's definitely not unchanged.  There is a clear upward trend.  Your selection of a linear chart simply zooms out so far due to the temporary spike, that it becomes difficult  for some to see.  Erase the spikes that occur around bubbles and the overall bullish trend becomes apparent even on linear charts.

[NotLambchop]

I may have forgotten Lambchop, but I cannot recall you having any argument for why the price will drop in the medium term, other than "see the recent chart".

Enlighten us

Non sequitur?

Enlighten us

[podyx]

The overall 2-year trend resumed in May:

For a dose of reality check this one out.

https://blockchain.info/charts/estimated-transaction-volume?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

unchanged for 2.5 years

That is definately not unchanged, there are days when it's 400k and days when there are 50k

It just looks unchanged because of the huge fucking spike that some spoiled kid managed

[inca]

Leave logic aside and please enlighten us!

[NotLambchop]

^
So thaat you can come back with something equally clever and apropos, like "I cannot recall you having any argument for why water is wet, enlighten us <durr emoji>."
Not falling for your fiendish ploy, bro

[oda.krell]

That's cherry picking, absolutely.

Average over the entire time, or break it down by year (starting mid/late 2010)

You trying to arguing such nonsense borders on trolling, oda.krell.  I refuse to believe you can't understand how absurd your stance is.  When talking about USD yearly inflation, do you average it over the entire life of the dollar?  Or do you use the recent year data?

Why of course, how silly of me. Here, this should satisfy your high standards of data presentation, I hope:


USD inflation by year:




BTC inflation by year:




Negative numbers = deflation.

 ~Happy Investing!

[NotLambchop]

That's cherry picking, absolutely.

Average over the entire time, or break it down by year (starting mid/late 2010)

You trying to arguing such nonsense borders on trolling, oda.krell.  I refuse to believe you can't understand how absurd your stance is.  When talking about USD yearly inflation, do you average it over the entire life of the dollar?  Or do you use the recent year data?

Why of course, how silly of me. Here, this should satisfy your high standards of data presentation, I hope:

You accused me of cherry picking because I chose year as a time span when discussing yearly inflation.
After I explained to you why you were wrong, you came back with some catty line about my high standards.
You've finally crossed over into the full-blown troll territory, oda.krell.

  ~Happy Investing!

[oda.krell]

[NotLambchop]

^Yes, I remember 2013 real well--great time for Bitcoin.  The glory days were glorious, but nao it's time to let go, oda.krell

[brg444]

^Yes, I remember 2013 real well--great time for Bitcoin.  The glory days were glorious, but nao it's time to let go, oda.krell

When they return, will you let go and... you know.. go away?

[oda.krell]

"Quick! Sell ALL the Apple stocks!"