Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16848. (Read 26712362 times)

As if Jihan Wu is the only dumper in town o_O

As if Jihan Wu is the only dumper in town o_O

Jihan Wu dumped 3K bitcoin on bitfiniex in 5 mins. Only 1% damage. He will see what a real dump is on his BCC on 1 Aug  

Jihan Wu dumped 3K bitcoin on bitfiniex in 5 mins. Only 1% damage. He will see what a real dump is on his BCC on 1 Aug  

Not necessarily so at all. You've basically said it worked like this in the past and so it will work like this going forward.  But of course we didn't have bitcoin.  But more importantly you probably don't know that the relationship is really about the cost of production which effectively related to its deepness.

As we grow our technology gold won't necessarily be scarce and this will happen in our lifetimes.  This is why szabos article about mining the vast deep were written and relevant (as well as comet mining).

There is nothing to suggest gold will continue to be a superior or safe store of wealth.

OK, let's go for something within my lifetime. In August 1971, gold was $35.00 per ounce. Adjusted for inflation that would be about $211.00 in today's dollars. Now if I compare the price of gold to what it was in May of 1980, then it sucks. Overall, in the long haul, it's most probably going to keep up with inflation.

Did you look at the price of gold before you made this statement?  Its declining rapidly.  And its value 10k years from now is not relevant to you.  Your post denies observable reality.  gold is not safe, its losing value at a dramatic pace.

Whatever  

For me, if I want to be safe, I go for precious metals. Since the neolithic, it's held its value fairly well. A person 10,000 years ago can get about the same amount of goods and services as they can today. Yes, its value fluctuates in the short term, but in the long term, it will probably be one of the safest investments that I can possibly make. (And a little boring to be quite frank.)
If I want to go for risky, with high volatility and excitement, I go for Bitcoin/cryptocurrency. I've had almost 3 years worth of entertainment and have even seen my small "investment" increase 10 fold. This has been way more enjoyable, affordable and educational for me than my years of trying to perfect my card counting "system." Wish this was around in the 90's and early 2000s.
Enjoy life. It never has to be boring.

Let me guess, your net "truth" is to try and convince me India has the best schools in the world again.

Cryptocurrency is NOT fungible.  If anything about the protocol at all can be altered via a strongman or banana republic voting to take over it's exposed power vacuum it's not fungible.

Money = has objective, static traits

Currency = random arbitrary bullshit some guy makes up and constantly fiddles with like fiat or bitcoin. If it's possible for your money to "hard fork", or randomly morph from one thing to another, it's not fungible, and hence not money.

It doesn't matter if said forks are orchestrated by a banana republic of miners in a voting process. There is no Nash equilibrium in cryptocurrency, only a power vacuum to be filled by a top down hierarchy or strongman. To escape this master and servant hierarchy you have to use real money that cannot be altered or tampered with by third parties.

So, you're saying that it's a "fact" that the fed will cause massive USD deflation, so that it can keep up with bitcoin?

You are completely delusional if you think that the Fed is going to adjust their monetary policy at all to improve the "quality" of their money, much less to "compete" with Bitcoin. They don't give two shits about Bitcoin. After another worldwide financial crisis, they will slam interest rates back to zero and fire up QE4. If that doesn't stop banks imploding around the world, they will send interest rates negative and print dollars into oblivion. They will even airdrop helicopter money directly into people's bank accounts if they have to.

In the near future there may be a smaller number of major currencies used in the world and these may stand in competitive relations among themselves. There is now the “euro” and the old inflationary history of the Italian lira is past history now. And there COULD be introduced, for example, a similar international currency for the Islamic world or for South Asia, or for South America, or here or there.

So here is the possibility of “asymptotically ideal money”. Starting with the idea of value stabilization in relation to a domestic price index associated with the territory of one state, beyond that there is the natural and logical concept of internationally based value comparisons. The currencies being compared, like now the euro, the dollar, the yen, the pound, the swiss franc, the swedish kronor, etc. can be viewed with critical eyes by their users and by those who may have the option of whether or not or how to use one of them. This can lead to pressure for good quality and consequently for a lessened rate of inflationary depreciation in value.

And this parallel makes it seem not implausible that a process of political evolution might lead to the expectation on the part of citizens in the “great democracies” that they should be better situated to be able to understand whatever will be the monetary policies which, indeed, are typically of great importance to citizens who may have alternative options for where to place their “savings”.

What is this?

Yes and I quoted a research report based on your fed that explains that as bitcoin grows in relevance it will force the fed to adjust its monetary policy in relation to it.  Your conclusion doesn't acknowledge this FACT. 

 Dude, you CLEARLY showed you don't fucking know what you are talking about.  What is this?

Yes and I quoted a research report based on your fed that explains that as bitcoin grows in relevance it will force the fed to adjust its monetary policy in relation to it.  Your conclusion doesn't acknowledge this FACT.  

Dude, you CLEARLY showed you don't fucking know what you are talking about.  What is this?