Topic: Bitcoin goes to 1200-1300 (within a month?) - page 40. (Read 79095 times)

Gee, thanks. I guess inflation really is at 0%, and the monetary base has not grown at all.

BTC really can't hold a candle to the boring, steady, and relentless decline of good ol' USD. Thanks for clarifying that too.

Going from a few dollars to hundreds of dollars apiece in the space of a few years is quite a horrific train wreck indeed.



Rationality and sustainability in one chart.

Yes I do...  If you look at that spike in late 2013 the MEC market cap went from a few thousand to around $50 million. Easiest money I ever made. 
The chart you provided, looks very similar to 2013 again this year. The next spike will be much bigger. If you got in on Megacoin back then, you should have plenty to invest and diversify.   

2 posts eh? Like you have any clue what you're talking about... lol

CPI numbers not looking how you want them to? Change the methodology.

http://www.shadowstats.com/alternate_data/inflation-charts

Thanks again! Whether you're actually a troll, or just some fool with an inferiority complex, people like you are one of the biggest reasons to invest in crypto currency...   

If you aren't worried about your fiat being debased, I'm not sure what you're doing here? You would certainly have no interest in Bitcoin.

Another new account, and a few mindless troll posts to waste your day?

The same pack of bacon we bought last year for $8 is now $16. A ribeye steak that was $6 a year ago is now $10. Everything from candy bars to ice cream bars are getting smaller and smaller as the price goes up. 

DEFINITION OF 'INFLATION'
The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum.

INVESTOPEDIA EXPLAINS 'INFLATION'
As inflation rises, every dollar will buy a smaller percentage of a good. For example, if the inflation rate is 2%, then a $1 pack of gum will cost $1.02 in a year.

The chart you supplied shows the increasing lack of purchasing power. If average wages drop 23%, and the reported rate of inflation is supposedly 2%, you are experiencing massive inflation. What is it you don't understand?

Exactly...

"Let's just print some more money to makeup the growth rate and make it look as if the economy is recovering"
Same trick as "let's give people shitty minijobs so the unemployment rate looks nice and low and we can win the next elections and brag it out"

It's all smoke and mirrors, the economy still runs under the same scams and dead ends, keep stacking metal and BTC and don't forget land too.

Official inflation data does not include food, fuel, and most necessities. Real inflation is running at more than 10% for the last 3 years. Take a look at the price of fast food over the last few years, and this will give you a good idea of real inflation.

On top of this, household income is down sharply since 2008. Savings is even worse. Depending on who you want to believe.

http://www.breitbart.com/big-government/2014/08/11/u-s-wages-down-23-since-2008/

http://economix.blogs.nytimes.com/2013/03/28/median-household-income-down-7-3-since-start-of-recession/?_r=0

http://business.time.com/2013/03/12/if-theres-no-inflation-why-are-prices-up-so-much/

http://www.financialsense.com/contributors/john-mauldin/is-government-lying-to-us-about-inflation-yes

http://www.forbes.com/sites/perianneboring/2014/02/03/if-you-want-to-know-the-real-rate-of-inflation-dont-bother-with-the-cpi/

http://www.cnbc.com/id/42551209

http://www.bankrate.com/finance/personal-finance/is-inflation-higher-than-you-think-1.aspx

The Fed is buying up the bad debt with Monopoly money. The bad debt is being taken out of the hands of failed banks and bankrupt consumers with money that has been printed out of thin air. This debases the value of old money, causes massive inflation. When you increase the money supply without increasing the collateral that backs it, you end up with inflation. We have reached the point of unsustainable debt, and everything is about to change.  

DEFINITION OF 'MONETIZE'
To monetize is to convert an asset into or establish something as money or legal tender. The term monetize has different meanings depending on the context. It can refer to methods utilized to generate profit, while it also can literally mean the conversion of an asset into money. For example, the U.S. Federal Reserve can monetize the nation's debt; this involves the process of purchasing debt (treasuries) which in turn increases the money supply. This essentially turns the debt into money (monetization).

https://www.youtube.com/watch?v=mII9NZ8MMVM

This one is long, but completely explains the situation.

https://www.youtube.com/watch?v=JGMfI0iglk4

this is impossible even with a steady grow, you need a increase per day around 90 to accomplish the goal of 1300 before 1 august

yet for some reason it look more feasible than any drastic drop that was predicted, like 132 and sub 100

Where did the author of this prediction disappear? Are we still waiting for 1300 USD till the end of July?   

Yeah, true. It will be fine for BTC to remain as a growing currency in the eyes of investors rather than other P&D alts which just come, make profit to big boys, and then vanish.

i agree. the slow price growth is way better than a quick jump to a high price like $1000 and then crash afterwards. the high jump is only good for cashing out and profiting but it will hurt bitcoin to be considered  as some sort of currency .

Somewhere between 280-300 for a few month is ideal.

Can you explain the "monetizing debt" piece, that's something I've never really had a good handle on.

As far as the central banks buying the bonds and interest rates staying low and debt:gdp ratio not meaning anything....don't you think there will come a point when debt interest payements : gdp will be so high that it will effectively nuder the government to spend money on anything other than the debt interest?

If there is a quick jump to 1200, I don't think it will be sustainable. That's just too much too fast. Best case scenario is getting to 300 and holding

The bitcoin price today was a bit high but it fall again to the main position to the starting day today.
So 1200-1300 is a high high value to be reached in these days or in these months

Thumbs up.
LoL for that last sentence.

National debts are never paid back.

The question you should ask is if countries are so bankrupt then why aren't rates rising to price in the risk? The answer of course is that central banks are buying bonds, monetising the debt.

The next question is what proportion of national debt is owned by central banks? You may be surprised to find out that the answer is quite a lot. Last time I checked the Bank of England had printed money out of thin air bought >30% of UK gilts. The situation is similar in the US and Japan is a total clusterfuck. The EU is shortly to print hundreds of billions of euros to keep rates low across the EU.

Who knows what the central banks are actively doing in the markets or in terms of buying other countries debt.

The end result is that as long as you have a central bank with the ability to print money from nothing and the audacity to buy up national bonds like some kind of banana republic then debt:gdp ratios mean nothing. That 30 -> 40 -> 50 % of national debt will expire. The bond payments from government to central banks are just handed back. So the end result is simple monetary inflation. As much inflation is required to stem the deflationary aftershocks still rocking the world from 2008.

For anyone young it presents a problem because we cannot rely on the valuations the market is saying housing or the stock market are worth.

That is one reason I like bitcoin, though I am not naive enough to think our friendly central bankers are not plotting to fuck that up, too.