lontivero (OP)
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Amazing times are coming
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November 30, 2014, 04:11:37 PM |
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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
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November 30, 2014, 04:43:23 PM |
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^ 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
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Not sure which Bitcoin wallet you should use? Get Electrum!Electrum is an open-source lightweight client: fast, user friendly, and 100% secure. Download the source or executables for Windows/OSX/Linux/Android from, and only from, the official Electrum homepage.
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NotLambchop
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November 30, 2014, 05:00:03 PM |
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... 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?
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turvarya
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November 30, 2014, 06:14:51 PM |
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... 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 ...
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sidhujag
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November 30, 2014, 06:18:49 PM |
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... 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
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inca
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November 30, 2014, 06:22:40 PM |
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... 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.
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oda.krell
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November 30, 2014, 06:33:20 PM |
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... 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)
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Not sure which Bitcoin wallet you should use? Get Electrum!Electrum is an open-source lightweight client: fast, user friendly, and 100% secure. Download the source or executables for Windows/OSX/Linux/Android from, and only from, the official Electrum homepage.
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NotLambchop
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November 30, 2014, 07:15:02 PM |
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... 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!
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inca
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November 30, 2014, 07:32:17 PM |
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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 ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Raystonn
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November 30, 2014, 07:33:24 PM |
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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.
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NotLambchop
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November 30, 2014, 07:46:48 PM |
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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 ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Non sequitur? Enlighten us ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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podyx
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November 30, 2014, 07:48:01 PM |
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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
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inca
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November 30, 2014, 08:14:57 PM |
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Leave logic aside and please enlighten us!
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NotLambchop
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November 30, 2014, 08:24:33 PM |
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^ 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 ![Angry](https://bitcointalk.org/Smileys/default/angry.gif)
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oda.krell
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November 30, 2014, 11:24:08 PM |
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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: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FLbyxAHe.png&t=665&c=qaeusouHz6HZaw) BTC inflation by year: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fe66zDQh.png&t=665&c=wiRsY5qFqADZpw) Negative numbers = deflation. ~Happy Investing!
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fe66zDQh.png&t=665&c=wiRsY5qFqADZpw)
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Not sure which Bitcoin wallet you should use? Get Electrum!Electrum is an open-source lightweight client: fast, user friendly, and 100% secure. Download the source or executables for Windows/OSX/Linux/Android from, and only from, the official Electrum homepage.
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NotLambchop
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November 30, 2014, 11:33:56 PM |
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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: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FrvmTTzp.png%3F1&t=665&c=_cH50XwHmDSonw) 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!
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FrvmTTzp.png%3F1&t=665&c=_cH50XwHmDSonw) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fmedia-cache-ak0.pinimg.com%2F236x%2Fd7%2F5f%2F3a%2Fd75f3a6d4868e8f0a843b3267a1e5482.jpg&t=665&c=_sdXyR65KZPWTg)
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oda.krell
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November 30, 2014, 11:35:23 PM |
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Not sure which Bitcoin wallet you should use? Get Electrum!Electrum is an open-source lightweight client: fast, user friendly, and 100% secure. Download the source or executables for Windows/OSX/Linux/Android from, and only from, the official Electrum homepage.
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NotLambchop
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November 30, 2014, 11:53:54 PM |
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^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 ![Sad](https://bitcointalk.org/Smileys/default/sad.gif)
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brg444
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December 01, 2014, 12:08:51 AM |
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^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 ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) When they return, will you let go and... you know.. go away?
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"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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oda.krell
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December 01, 2014, 12:31:03 AM |
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"Quick! Sell ALL the Apple stocks!"![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FnDdDlF2.jpg&t=665&c=p0uxPAU-jIakEA)
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Not sure which Bitcoin wallet you should use? Get Electrum!Electrum is an open-source lightweight client: fast, user friendly, and 100% secure. Download the source or executables for Windows/OSX/Linux/Android from, and only from, the official Electrum homepage.
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