Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24506. (Read 26711452 times)

Perfect description, i veriunderstand goodly. Read the so called experts, they are full of stupid consensus related nonsense, and full of contradictions.

By the way, the 2 percent price inflation is not really 2 percent forever, it takes only a change of mind of a few persons at a central bank to change it to 10 or whatever...

Edit: This is not the place to flash names of famous people, only arguments are good.

Bitcoin's doing just fine on that front lately, regardless of design


The professionals and academics nonunderstand money, but you, Erdogan, veryunderstand it goodly.
...or might you be unsane?

What is there to see on the 3 minute chart other than noise?

Bitcoin too, until the year 2150 or something !  Although you are right that bitcoin has monetary mass inflation until then, while many central banks have price inflation targets.  The difference between both is (at constant velocity) given by economic growth. 


I think we're in a chicken and egg problem.  Of course, volume can be small, and value (per coin) large, if velocity is small (if most coins are held a very very long time).  In that case, you are right, volume doesn't matter much, my formula doesn't matter much, and we are more in a "store of value" problem, and the market share of the aggregate demand for store of value.
On the other hand, if bitcoin is mainly a means of payment, then the demand will essentially be to have "bitcoins to pay with", and the inherent time they are held between obtaining them and spending them, is then more described by my formula.  We are then in a market that is essentially driven as "monetary asset" (to buy stuff with).

In reality both will play.  But my personal opinion is that the latter will be more important in the medium term (the coming decade say) than the pure store of value.  As someone else said, that's not a problem because for the moment, speculation "to the moon" is the driver.  But that driver will not - in my opinion - hold on for 10 more years without any fundamental driving it, and only a (pipe?) dream in the far future going for it.  This is why commercial adoption is so important, and it has to become a significant part of the demand if bitcoin is to go somewhere (to the moon).


That's true :-)  However, it may become a self-fulfilling prophecy too.  If people commanding large amounts of value are "too stupid to adopt bitcoin", well.... then bitcoin will not be adopted.  This is why I think the road of commercial adoption is much much more important than long-range speculation of "the moon".  Commercial adoption will rise the demand for bitcoin as a payment asset, and not as a store for value (any longer than the time to spend it).  If *that* can support a higher market cap, it may be the main price drive in the coming decade, over promises of "the moon", which will stay hypothetical, in my opinion, for at least many decades (at least the time it takes for the current generation of financials to take their retirement).

3 minute chart at bitfinex

What a loser!

Cup and handle forming on the 4h chart? 

370s in 3 ... 2 ... 1...

Not looking too promising, gentlemen

It doesn't matter because I'm still :

Dropped 8 bucks on no volume, so... yeah.

Look at the orderbook

370s in 3 ... 2 ... 1...

Not looking too promising, gentlemen

While I appreciate that for most of the 'yoof' that inhabit the interweb, grammar and spelling are superfluous details, the reality is many ESL speakers actually have a better grasp of English grammar.  The fact 'native speakers' don't know the basic grammatical rules of your their own language is a point of shame in most countries, other than the Anglosphere, where ignorance has been marketed has 'cool'.

Proving that Turkeys do indeed vote for Christmas.

...snip...

I would enjoy it to try and see you converse in someone else's native language

the longer it waits the worse it looks.