Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31532. (Read 26610008 times)
November 27, 2013, 06:38:15 PM
ath
November 27, 2013, 06:34:51 PM
So, lets get a vote put up for the following naming conventions:
1. "ceebits" (cBTC) / "embits" (mBTC) / "mybits" (µBTC)
2. "centi-bit" (cBTC) / "milli-bit" (mBTC) / "micro-bit" µBTC / "satoshi" (sBTC)
3. "cents" (cBTC) / "mills" (mBTC) / "mics" µBTC / "sats (satoshis)" (sBTC)
Or will this all need a seperate thread of its own?
1. "ceebits" (cBTC) / "embits" (mBTC) / "mybits" (µBTC)
2. "centi-bit" (cBTC) / "milli-bit" (mBTC) / "micro-bit" µBTC / "satoshi" (sBTC)
3. "cents" (cBTC) / "mills" (mBTC) / "mics" µBTC / "sats (satoshis)" (sBTC)
Or will this all need a seperate thread of its own?
New poll started at Bitcoin denominations and naming conventions
November 27, 2013, 06:33:58 PM
i think were at like 8 qu-bit (quantum bit? ) computing.. that lasts hours..and im not sure if thats just data storage. To say were going to hear news of a 32000 qubit computer any time soon seems unlikely.. I believe that was the power required to crack the sha 256...however to some this was more likely then bitcoin being a 1000$usd lol
November 27, 2013, 06:26:58 PM
The money in circulation today ($USA) is 1,18 trillion dolars [...] the projected theoretical value is 1,18 trillions of $ /21 Million Bitcoins= $56,190.47 per bitcoin.
How about the us debt + the rest of the world currencies?
)About the only thing that is in circulation is debt, as even cash is debt. Someone took a loan for it to be around!!!
Not necessarily true. Governments pay people for stuff all the time.
They do, but they become indebted to central banks or others to do so.
Also generally not true, most government outlays come from taxes. Only a small portion of expenditures in a given year are from borrowing.
In the US, at least, M1 is larger than the internal debt, so cash is not debt.
If the only one allowed by law to issue dollars, euros etc are banks (central and/or peripheral), and they only issue it as loans, then all money has to be debt, old or new.
Not if that debt is settled without removing the cash from circulation.
That can never happen because of interest.
Let's play a game. Suppose you are a central bank and I am a client. There's no money in circulation and you are the only one allowed to issue it. You also require interest to issue money.
Now, I request a $10 loan. With interest, you should get back $12. BUT only $10 exist. The only solution is for you to give a loan to the next client and then the next etc............ all the way to infinity. Until numbers lose their meaning!!!
I hope you understand!!!
It's not a matter of morality. It's just impossible since the $2 don't exist.
That is true. The loaned $10 is generated out of nothing by banks and the only way to create the $2 interest is to loan more money into the economy. It is a pyramid financial system. That is why the GDP has to be positive each year to avoid recession. But that requires exponential growth since it is 3% added to the previous year's 3% increase, etc.
https://www.youtube.com/watch?v=jqvKjsIxT_8
November 27, 2013, 06:20:49 PM
Anyone got any speculation for where we are headed in the short term?
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Surprised ? Who ?
When it was crashing from 900 and we reached 550 USD I said : It will fall below 500 but 400 will hold. If 400 holds then we will hit 1000 USD within the next 10 days. And here we are 7 days later... All correct.
Expect more of the same, going up strong with some corrections/ crashes on the way. For exemple we maybe hit 1600 before crashing back to 1200, then resume rise.
I believe it can again double by the end of the year to 2000 USD. A more conservative estimation is 1500 USD by the end of the year.
In 2014 I believe we'll witness the bull through the 4 digits with the 5 digits in sight. When we reach 5 digits is anyone's guess but I personally see it happen within 12 months.
Your credibility is not in question, you have often been a good judge before - so I read this and think: Wow!
But some very bearish news could also crash it back to 300... unlikely tough.
Also a technological breakthrough that would make new quantum computers able to crack bitcoin would crash it's value to about zero.
It would be too easy if there were no downwards risks involved.
In our situation I consider the upside potential to vastly surpass the downside potential. But the risk to loose it all exists... as it exists if you hold USD on a bank account or under your mattress - or gold in a safe somewhere...
November 27, 2013, 06:19:59 PM
Anyone got any speculation for where we are headed in the short term?
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Surprised ? Who ?
When it was crashing from 900 and we reached 550 USD I said : It will fall below 500 but 400 will hold. If 400 holds then we will hit 1000 USD within the next 10 days. And here we are 7 days later... All correct.
Expect more of the same, going up strong with some corrections/ crashes on the way. For exemple we maybe hit 1600 before crashing back to 1200, then resume rise.
I believe it can again double by the end of the year to 2000 USD. A more conservative estimation is 1500 USD by the end of the year.
In 2014 I believe we'll witness the bull through the 4 digits with the 5 digits in sight. When we reach 5 digits is anyone's guess but I personally see it happen within 12 months.
Thanks for that.
November 27, 2013, 06:14:27 PM
Seem's like everyone's just so surprised we broke $1000
Only the bears. 
November 27, 2013, 06:12:33 PM
Anyone got any speculation for where we are headed in the short term?
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Surprised ? Who ?
When it was crashing from 900 and we reached 550 USD I said : It will fall below 500 but 400 will hold. If 400 holds then we will hit 1000 USD within the next 10 days. And here we are 7 days later... All correct.
Expect more of the same, going up strong with some corrections/ crashes on the way. For exemple we maybe hit 1600 before crashing back to 1200, then resume rise.
I believe it can again double by the end of the year to 2000 USD. A more conservative estimation is 1500 USD by the end of the year.
In 2014 I believe we'll witness the bull through the 4 digits with the 5 digits in sight. When we reach 5 digits is anyone's guess but I personally see it happen within 12 months.
Your credibility is not in question, you have often been a good judge before - so I read this and think: Wow!
November 27, 2013, 06:07:32 PM
Anyone got any speculation for where we are headed in the short term?
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Surprised ? Who ?
When it was crashing from 900 and we reached 550 USD I said : It will fall below 500 but 400 will hold. If 400 holds then we will hit 1000 USD within the next 10 days. And here we are 7 days later... All correct.
Expect more of the same, going up strong with some corrections/ crashes on the way. For exemple we maybe hit 1600 before crashing back to 1200, then resume rise.
I believe it can again double by the end of the year to 2000 USD. A more conservative estimation is 1500 USD by the end of the year.
In 2014 I believe we'll witness the bull through the 4 digits with the 5 digits in sight. When we reach 5 digits is anyone's guess but I personally see it happen within 12 months.
November 27, 2013, 06:02:25 PM
November 27, 2013, 06:01:43 PM
The money in circulation today ($USA) is 1,18 trillion dolars [...] the projected theoretical value is 1,18 trillions of $ /21 Million Bitcoins= $56,190.47 per bitcoin.
How about the us debt + the rest of the world currencies? )About the only thing that is in circulation is debt, as even cash is debt. Someone took a loan for it to be around!!!
Not necessarily true. Governments pay people for stuff all the time.
They do, but they become indebted to central banks or others to do so.
Also generally not true, most government outlays come from taxes. Only a small portion of expenditures in a given year are from borrowing.
In the US, at least, M1 is larger than the internal debt, so cash is not debt.
If the only one allowed by law to issue dollars, euros etc are banks (central and/or peripheral), and they only issue it as loans, then all money has to be debt, old or new.
Not if that debt is settled without removing the cash from circulation.
That can never happen because of interest.
Let's play a game. Suppose you are a central bank and I am a client. There's no money in circulation and you are the only one allowed to issue it. You also require interest to issue money.
Now, I request a $10 loan. With interest, you should get back $12. BUT only $10 exist. The only solution is for you to give a loan to the next client and then the next etc............ all the way to infinity. Until numbers lose their meaning!!!
I hope you understand!!!
It's not a matter of morality. It's just impossible since the $2 don't exist.
November 27, 2013, 05:55:52 PM
The money in circulation today ($USA) is 1,18 trillion dolars [...] the projected theoretical value is 1,18 trillions of $ /21 Million Bitcoins= $56,190.47 per bitcoin.
How about the us debt + the rest of the world currencies? )About the only thing that is in circulation is debt, as even cash is debt. Someone took a loan for it to be around!!!
Not necessarily true. Governments pay people for stuff all the time.
They do, but they become indebted to central banks or others to do so.
Also generally not true, most government outlays come from taxes. Only a small portion of expenditures in a given year are from borrowing.
In the US, at least, M1 is larger than the internal debt, so cash is not debt.
If the only one allowed by law to issue dollars, euros etc are banks (central and/or peripheral), and they only issue it as loans, then all money has to be debt, old or new.
Not if that debt is settled without removing the cash from circulation.
That can never happen because of interest.
Let's play a game. Suppose you are a central bank and I am a client. There's no money in circulation and you are the only one allowed to issue it. You also require interest to issue money.
Now, I request a $10 loan. With interest, you should get back $12. BUT only $10 exist. The only solution is for you to give a loan to the next client and then the next etc............ all the way to infinity. Until numbers lose their meaning!!!
I hope you understand!!!
November 27, 2013, 05:54:45 PM
Anyone got any speculation for where we are headed in the short term?
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
Seem's like everyone's just so surprised we broke $1000 nobody planned any speculation for afterwards, and I need speculation.
November 27, 2013, 05:52:43 PM
I can't tell if these are pumps or the greatest bear traps of all time.
summer 2013 was the greatest bear trap of all time.
Not buying coins before Oct. makes me feel like I was stuck in there with the bears.
November 27, 2013, 05:51:26 PM
I can't tell if these are pumps or the greatest bear traps of all time.
summer 2013 was the greatest bear trap of all time.
Not buying coins before Oct. makes me feel like I was stuck in there with the bears.
November 27, 2013, 05:49:51 PM
I can't tell if these are pumps or the greatest bear traps of all time.
summer 2013 was the greatest bear trap of all time.
November 27, 2013, 05:47:11 PM
The money in circulation today ($USA) is 1,18 trillion dolars [...] the projected theoretical value is 1,18 trillions of $ /21 Million Bitcoins= $56,190.47 per bitcoin.
How about the us debt + the rest of the world currencies? )About the only thing that is in circulation is debt, as even cash is debt. Someone took a loan for it to be around!!!
Not necessarily true. Governments pay people for stuff all the time.
They do, but they become indebted to central banks or others to do so.
Also generally not true, most government outlays come from taxes. Only a small portion of expenditures in a given year are from borrowing.
In the US, at least, M1 is larger than the internal debt, so cash is not debt.
If the only one allowed by law to issue dollars, euros etc are banks (central and/or peripheral), and they only issue it as loans, then all money has to be debt, old or new.
Not if that debt is settled without removing the cash from circulation.
That can never happen because of interest.
Let's play a game. Suppose you are a central bank and I am a client. There's no money in circulation and you are the only one allowed to issue it. You also require interest to issue money.
Now, I request a $10 loan. With interest, you should get back $12. BUT only $10 exist. The only solution is for you to give a loan to the next client and then the next etc............ all the way to infinity. Until numbers lose their meaning!!!
I hope you understand!!!
November 27, 2013, 05:45:15 PM
"ceebits" cBTC
"embits" mBTC
"mybits" µBTC
I don't actually like this formulation (I prefer Millies and Mikes) but it if it were adopted, it should be noted that µ is typically written using a "u" when the font does not allow for the correct symbol so you could pronounce it "yew-bits" (Or possibly "Ewe-bits" if you have a sheeply inclination)
There is also a Wikipedia page discussing naming. It's not like people haven't thought of this before.
November 27, 2013, 05:42:50 PM
I can't tell if these are pumps or the greatest bear traps of all time.
IMO its a growing knowledge base...my guess though.
November 27, 2013, 05:41:39 PM
The money in circulation today ($USA) is 1,18 trillion dolars [...] the projected theoretical value is 1,18 trillions of $ /21 Million Bitcoins= $56,190.47 per bitcoin.
How about the us debt + the rest of the world currencies? )About the only thing that is in circulation is debt, as even cash is debt. Someone took a loan for it to be around!!!
Not necessarily true. Governments pay people for stuff all the time.
They do, but they become indebted to central banks or others to do so.
Also generally not true, most government outlays come from taxes. Only a small portion of expenditures in a given year are from borrowing.
In the US, at least, M1 is larger than the internal debt, so cash is not debt.
If the only one allowed by law to issue dollars, euros etc are banks (central and/or peripheral), and they only issue it as loans, then all money has to be debt, old or new.
Not if that debt is settled without removing the cash from circulation.
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