bitcoin will not take over "regular money" at least not for a long while
I think the same, if only because Bitcoin is not suitable for a debt-based economic system. But surely it could take over 0.1% of the economy!
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24979. (Read 26711027 times)
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Colletrix - Bridging the Physical and Virtual Worl
October 18, 2014, 06:50:37 PM
I think the same, if only because Bitcoin is not suitable for a debt-based economic system. But surely it could take over 0.1% of the economy!
October 18, 2014, 06:43:48 PM
I have that strange feeling that Mr. 10000BTC @Huobi might get his wall filled in the next days and won´t have to chase to price.
My gut tells me, so it´s most likely legit.
My gut tells me, so it´s most likely legit.
I think another large bull will shit on his parade and out bid him.
Bull fight
October 18, 2014, 06:41:44 PM
Your argument against bitcoin rising to become a global reserve currency is a bit silly. Bitcoin doesn't need to be more than a tradeable digital asset and it can still move up two orders of magnitude easily in market cap valuation.
"The primary purpose of evil people is to instill helplessness in the morally energetic." --Stefan Molyneux
The thought that Bitcoin "will not take over the world" is often repeated. See for example:
- Report of the recent IMF/WB meetings in Washington (p.5)
http://www.cbbanorte.com.mx/analisis/flashes/Economicos/IMF_WB_AnnualMeeting.pdf
- Minneapolis Fed director and author of 'Money is memory' paper
http://www.reuters.com/article/2014/04/16/us-usa-fed-kocherlakota-bitcoin-idUSBREA3F03120140416
It is not an argument per se, it appears to be based on the (sensible enough) thought that Bitcoin becoming global reserve currency would entail a total revolution in the world order, and it is too improbable for this to happen.
To my mind, the important thing is that the directors of the Fed and the IMF are taking Bitcoin extremely seriously. And, as inca said, we need not wait for the entirety or the majority the world's wealth to be denominated in Bitcoin. On one recent estimate (you can look that one up), the world's wealth stands at 263 trillion USD. If merely one tenth of one percent of the world's wealth is denominated in Bitcoin, then the market capitalization of the coin would stand 263 billion USD. Dividing that by, say, 18 million BTC (we'll be there in 2020), gives you ~USD$20,000/BTC.
bitcoin will not take over "regular money" at least not for a long while, but i think its likely that given time some form of bitcoin will take over "regular money", could very well be bitcoin in the end, the future is unpredictable to say the least... but this bitcoin thing makes sense a lot of sense... it make sense to you it make sense me it makes sense to an ever gorwing number of poeple.
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Activity: 660
Merit: 101
Colletrix - Bridging the Physical and Virtual Worl
October 18, 2014, 06:38:04 PM
Your argument against bitcoin rising to become a global reserve currency is a bit silly. Bitcoin doesn't need to be more than a tradeable digital asset and it can still move up two orders of magnitude easily in market cap valuation.
"The primary purpose of evil people is to instill helplessness in the morally energetic." --Stefan Molyneux
The thought that Bitcoin "will not take over the world" is often repeated. See for example:
- Report of the recent IMF/WB meetings in Washington (p.5):
http://www.cbbanorte.com.mx/analisis/flashes/Economicos/IMF_WB_AnnualMeeting.pdf
- Minneapolis Fed director and author of the astounding 'Money is memory' paper:
http://www.reuters.com/article/2014/04/16/us-usa-fed-kocherlakota-bitcoin-idUSBREA3F03120140416
It is not an argument per se, it appears to be based on the (sensible enough) thought that Bitcoin becoming global reserve currency would entail a total revolution in the world order, and it is just too improbable for this to happen.
To my mind, the important thing is that the directors of the Fed and the IMF are taking Bitcoin extremely seriously. And, as inca said, we need not wait for the entirety or the majority the world's wealth to be denominated in Bitcoin. On one recent estimate (you can look that one up), the world's wealth stands at 263 trillion USD. If merely one tenth of one percent of the world's wealth is denominated in Bitcoin, then the market capitalization of the coin would stand at 263 billion USD. Dividing that by, say, 18 million BTC (we'll be there in 2020), gives you ~USD$16,000/BTC.
October 18, 2014, 06:37:43 PM
fucking hell there's more marble than beef there.
Matsusaka beef is almost as good as Maesawa:
Yum.
October 18, 2014, 06:35:07 PM
fucking hell there's more marble than beef there.
Matsusaka beef is almost as good as Maesawa:
Yum.
October 18, 2014, 06:34:46 PM
10/19
Supports and resistances list
Supports and resistances list
October 18, 2014, 06:32:11 PM
Thought experiment porkchop. The price of bitcoin is high. Newsflow is overwhelmingly positive, adoption rates and infrastructure are steadily increasing.
The price is repeatedly hammered by an early adopter selling out 200,000 coins over a few months. What happens to market sentiment?
At the end of a bear market the price rises. What happens to sentiment?
The price is repeatedly hammered by an early adopter selling out 200,000 coins over a few months. What happens to market sentiment?
At the end of a bear market the price rises. What happens to sentiment?
October 18, 2014, 06:28:26 PM
walls
walls everywhere
walls everywhere
October 18, 2014, 06:26:43 PM
I have that strange feeling that Mr. 10000BTC @Huobi might get his wall filled in the next days and won´t have to chase to price.
My gut tells me, so it´s most likely legit.
*goes to see the wall*My gut tells me, so it´s most likely legit.
oh ya! thats a nice one, might of been easier for him to get that filled yesterday! but you're right if he patient he'll get it filled...
..maybe!
market's been very strong the past weeks...
October 18, 2014, 06:22:46 PM
I have that strange feeling that Mr. 10000BTC @Huobi might get his wall filled in the next days and won´t have to chase to price.
My gut tells me, so it´s most likely legit.
My gut tells me, so it´s most likely legit.
October 18, 2014, 06:22:37 PM
Number of transaction excluding popular address continues its relentless march higher, another month and it will hit all time high
October 18, 2014, 06:21:52 PM
Agreed, but this one probably died from obesity.
LOL Either that or from decadent indulgence.
Most people know about the beer diet and daily sake massages used to produce tender, marbled Kobe beef, but many consider Kobe to be inferior to Matsusaka or Maesawa (pictured) beef.
The beauty of pure-bred Wagyu beef is that while it has a high fat content, it is especially rich in omega-3 and -5 fatty acids and has a much higher unsaturated to saturated fat ratio than other beef. Think of it as health-food beef.
Too bad the Japanese refuse to export it. Most American "Kobe" beef is Wagyu crossed with Angus. Luckily here in Ontario we can get Wagyu-Hereford, vastly superior to the low-quality commercial Angus crap. The "Certified Angus" industry does run an effective marketing campaign though.
October 18, 2014, 06:20:39 PM
Number of unique bitcoin addresses used per day is now at all time high
October 18, 2014, 06:20:07 PM
Here's the problem with your reasoning: The likelihood of Bitcoin becoming world's major currency is slim enough to make me (and my Lizard Overlords) laugh. If it does become a threat to the status quo, it will be banned--already talk in Russia of criminalizing it. It won't vanish, but it certainly won't thrive.
"The primary purpose of evil people is to instill helplessness in the morally energetic." --Stefan Molyneux
Stefan Molyneux's getting quoted
cool guy smart guy, i've watch a bunch of his youtube channel
October 18, 2014, 06:16:16 PM
RUN TIME? I FEEL A RALLY COMING ON!!!! 
October 18, 2014, 06:13:15 PM
Here's the problem with your reasoning: The likelihood of Bitcoin becoming world's major currency is slim enough to make me (and my Lizard Overlords) laugh. If it does become a threat to the status quo, it will be banned--already talk in Russia of criminalizing it. It won't vanish, but it certainly won't thrive.
"The primary purpose of evil people is to instill helplessness in the morally energetic." --Stefan Molyneux
October 18, 2014, 06:11:42 PM
You can keep your popcorn. I'll keep these.
-gyros image-
-gyros image-
You can keep your popcorn and your pork gyros. I prefer well-marbled beef.
fucking hell there's more marble than beef there.
October 18, 2014, 06:01:16 PM
Agreed, but this one probably died from obesity.
October 18, 2014, 06:00:51 PM
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