Author

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31265. (Read 26609814 times)

legendary
Activity: 1512
Merit: 1005
Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  Grin)

The is the argument against a gold (or bitcoin) standard by the FED and banking status quo.

Under today's credit fiat system, it makes no sense to "save" money in currency since it continuously inflates. Instead savers are suppose to invest the money into businesses, capital spending, stocks, etc.

The problem is today no one saves this way, instead savers (those with disposable income over expenses) spend money frivolously on vacations/restaurants/crap instead of saving for the long term, and many of those who do invest do so in bubble type assets (i.e. large houses).

The fiat credit system is suppose to work in theory, but in practice it obviously does not. Hence bitcoin. It provides a real escape for true savers.

Correctly observed. It is so bad, in fact, that the assets that the people (who know about the diminishing value of saved fiat) use to park their savings, houses, stocks and bonds, take on exchange value in addition to their intrinsic value, in effect becoming money to some degree. These are the bubbles, Mr. Greenspan. They pop when better money become available. In a sense, you could say that the exchange value is the bubbly value. Conclusion: All moneys are bubbles, they pop when better money arises.
legendary
Activity: 1414
Merit: 1000
HODL OR DIE
Saving is good, hoarding like a lunatic is not.
The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

True. But if everybody in the world was hoarding like a maniac, there wouldn't be any economy, any jobs, any leisures.

Everyone would starve to death.....
legendary
Activity: 1168
Merit: 1000
I think panic will subside.  I don't see us staying under $800 for too long..  once everyone sobers up a bit.    Cheesy
legendary
Activity: 1512
Merit: 1005
I have a 12 year old Renault Scenic works as charm, I love the cheap parts if I have to repair anything, however I own this car for sometime I hadn't to repair anything except the check that I have each 15000 KM and maybe the brakes I had to change.

my wife want even a bigger car, but I am not even thinking about changing this one, it is working and it is serving its purpose.

Same here, I own a 13 year old Honda Civic since 3 years now. Never had anything break on it, cheap as fuk to drive around in...

Beats me why I would spend hard earned money on a status symbol like a fancy car. Even if I was rich i'd probably go for something midrange than a Ferrari or Porsche...
I wouldn't be surprised if this is a somewhat general characteristic of a typical 'bitcoiner'.  I have got a bunch of second-hand furniture, because it looks ok, does the job, and costs way less than new stuff.  Don't have a car either.  I would much rather invest the money that I save by doing so, in the hopes of becoming less dependent on income from my job, and doing only what I feel like doing.

Bolded part might be on to something. Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  Grin)
Not only does it encourage savings it encourages careful treatment of things including money.  People can relate to buying a tiny amount a while ago which is now worth a lot more.

It is the savers' revenge - at last.
hero member
Activity: 826
Merit: 501
in defi we trust
Hey , did that thing called price we were supposed to talk just moved?

ya damn my bid are no longer getting filled

wake up poeple,  its the end of bitcoin,  sell them sell them now!

In adamanian  it means BUY BUY BUY!
legendary
Activity: 2604
Merit: 1748
A central tenet of economics:

Investment is foregone consumption.

In plain English - we have to give up spending to have something to save.

Simple.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
Hey , did that thing called price we were supposed to talk just moved?

ya damn my bid are no longer getting filled

wake up poeple,  its the end of bitcoin,  sell them sell them now!
hero member
Activity: 826
Merit: 501
in defi we trust
Hey , did that thing called price we were supposed to talk just moved?
legendary
Activity: 1414
Merit: 1000
Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)

You just provided me with a new way to reply to people saying Bitcoin is a bubble. Thank you  Smiley

Is The Universe sustainable ? :-)
legendary
Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)

You just provided me with a new way to reply to people saying Bitcoin is a bubble. Thank you  Smiley
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
Saving is good, hoarding like a lunatic is not.
The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

Famous last words.
legendary
Activity: 1414
Merit: 1000
Saving is good, hoarding like a lunatic is not.
The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

+1

Fine libertarian spirit.

+1

Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)
legendary
Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
Saving is good, hoarding like a lunatic is not.
The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.
True. But if everybody in the world was hoarding like a maniac, there wouldn't be any economy, any jobs, any leisures.
Where exactly is the boundary between saving and hoarding?  And who decides that?
legendary
Activity: 1260
Merit: 1000
Drunk Posts
Well, things are looking healthy, imo. What do you guys think? Another bull trap?

I think this is a good price. I'm afraid to sell as the chance of going down again is getting slimmer and slimmer.

i could care less if the price of btc was $500 to $750 for 3 or 4 months. us long term holders know it will go to $10,000 sooner or later and we dont really care about things short term.

+1
sr. member
Activity: 266
Merit: 250
Well, things are looking healthy, imo. What do you guys think? Another bull trap?

I think this is a good price. I'm afraid to sell as the chance of going down again is getting slimmer and slimmer.

Not sure. If you look at the bitstamp orderbook it takes just 28 BTC to make the price drop 30 $
legendary
Activity: 2604
Merit: 1748
Saving is good, hoarding like a lunatic is not.
The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

+1

Fine libertarian spirit.
legendary
Activity: 1400
Merit: 1013
Saving is good, hoarding like a lunatic is not.
The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.
legendary
Activity: 2604
Merit: 1748
The real indicator that the crash is over is that this thread switched to talking about cars and girlfriends.

I don't see anyone bragging about their cars or girlfriends , so the atmosphere is still gloomy Smiley

BitChicksHusband is not online right now but he just bought a Mercedes CLA.  I will brag for him.  It is pretty nice.  We did not pay for it in BTC though.  I learned from some of the mistakes of a few posters on this board that it is not a wise thing to spend BTC on over the long haul so we will have a nice little car payment for a while. As for girlfriends, he doesn't have a "girlfriend" to talk about though, unless I count. Wink  



Of course you do Smiley
legendary
Activity: 1148
Merit: 1001
The real indicator that the crash is over is that this thread switched to talking about cars and girlfriends.

I don't see anyone bragging about their cars or girlfriends , so the atmosphere is still gloomy Smiley

BitChicksHusband is not online right now but he just bought a Mercedes CLA.  I will brag for him.  It is pretty nice.  We did not pay for it in BTC though.  I learned from some of the mistakes of a few posters on this board that it is not a wise thing to spend BTC on over the long haul so we will have a nice little car payment for a while. As for girlfriends, he doesn't have a "girlfriend" to talk about though, unless I count. Wink  

legendary
Activity: 2604
Merit: 1748
I am beginning to wonder if I am the only person here who does not live his parents, has a car which cost more than a thousand bucks, a nice sofa and er.... a girlfriend.

Maybe I am not nerdy enough and that's why I have not go as many coins as others seems to have Wink



No , you're not:)

I will have to try harder - I think if I keep spending as much time as I have done watching the screen, I might be single before too long.

Also - to be fair - when she said 'why don't you sell them, then?' when I showed here they were over 1200 a pop, she now thinks she was right.

I want to be right but not sure I want to be single...

She will forgive you, and might even say "You were right" when the price gets to $2000.   Grin  

She might, I just hope the price will oblige and look after that.

EDIT: It might cost me a car, though.  For her Wink
Jump to: