Everything looks fine on the logarithmic charts - page 3.

Jack of Diamonds

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Quote from: GeniuSxBoY on July 04, 2011, 07:29:52 PM

Quote

If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins.

If it ever gets to 0.05...no one thinks they're worth a nickle to have. You'll have a bunch of bitcoins that nobody wants anymore.

I'd take the gamble with a hundred bucks.
If you win, you practically got 2,000 bitcoins free and their value is $20-$50 years down the road. If you lose, you're out the price of 2 video games, a few bar nights, or what-have-you.

Since they always have *some* function as an instrument of value, I'd hold on to them. Doesn't matter if it's temporarily $15, $3, $0.01 or $250.

Quantus

legendary

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oh I had to educate myself about logarithmic charts. (Used in earthquakes and solar flares or any thing that uses a large number variances.) like our horribly unstable bitcoins.
I still don't understand how to read this chart though. how is this different from some thing like a Moving average? only a 9th grade education sorry Tongue

GeniuSxBoY

hero member

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Quote

If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins.

If it ever gets to 0.05...no one thinks they're worth a nickle to have. You'll have a bunch of bitcoins that nobody wants anymore.

imperi

full member

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If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins. Cheesy

edit:

More like 2 or 3%.

DamienBlack

jr. member

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Quote from: BTC Economist on July 04, 2011, 07:21:09 PM

Doesn't look that "fine". It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now. Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

Yes, I admit a downward trend. It just isn't "the end of bitcoin" like some people are griping about.

BTC Economist

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Doesn't look that "fine". It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now. Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

dinzy

full member

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Looking at this, I would wait a couple of months before buying again at ~ 5 bucks.

DamienBlack

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Quote from: Quantus on July 04, 2011, 07:10:39 PM

what is this?

This is the price of bitcoins over the last 12 months on a logarithmic scale.

Quantus

legendary

Activity: 883

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what is this?

DamienBlack

jr. member

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I would just like to point out to all the doom and gloomers, that everything looks just fine on the log charts (which you should be using)

Topic: Everything looks fine on the logarithmic charts - page 3. (Read 5872 times)