Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33318.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: dexX7 on May 16, 2013, 06:27:33 PM

Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.

The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.

... ... Cheesy

Who is just talking about America? Wink

Interesting thing I just heard. The actual inflation rate is more like 9.5% (taken from this economist - http://www.theaureport.com/pub/htdocs/expert.html?id=2000
So, just like the unemployment rate (which if we used 1980 stats would be closer to 23.5%) the inflation rate is really distorted.

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: dexX7 on May 16, 2013, 06:27:33 PM

Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.

The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.

... ... Cheesy

But... but.... bitcoin are being bought with money that was created out of thin air, not with M1 money supply

MickeyT2008

sr. member

Activity: 350

Merit: 250

This account was recently hacked

Quote from: dexX7 on May 16, 2013, 06:27:33 PM

Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.

The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.

... ... Cheesy

Don't forget that there's a lot more money on this planet than just US dollars alone

notme

legendary

Activity: 1904

Merit: 1002

Quote from: phoenix1 on May 16, 2013, 06:04:28 PM

It's pure Gox-comedy that this was ever possible in the first place Cheesy

...
"Until now you could just pretend you had money or coins and place orders ..."

Bitstamp (rightly) won't let you do this. I'd be surprised if there are many exchanges on which this was ever possible. OK ... you can list something on Ebay that you don't have, but that's a bit different ...

The unfunded orders wouldn't show up in the public order book. Just on your account with an insufficient funds error. It was nice because if you only had one currency you could place a bid and an ask. When the funded order filled your other order would activate. Easy enough to script and not worth the performance hit though, so I support the move.

dexX7

legendary

Activity: 1106

Merit: 1026

Correct me, if I'm wrong, because I'm not really sure about the money supply definitions, but here are some numbers about that 300k prediction.

The current M1 money supply of USD, which, as far as I understood, is all the money which is not money out of thin air, is around 2.500 billion USD. We have around 11 million BTC. Our goal 300.000 USD/BTC would result in a market capitalization of 3.300 billion USD.

... ... Cheesy

fitty

hero member

Activity: 728

Merit: 501

CryptoTalk.Org - Get Paid for every Post!

Ivanhoe

hero member

Activity: 841

Merit: 1000

Quote from: Luis_GT on May 16, 2013, 06:07:25 PM

I'm all in already... ~~and mining!~~ Cool

Call!

Chainsaw

hero member

Activity: 625

Merit: 501

x

I also switched positions and went all-in, a few hours back. I laid out my thinking behind it in this thread, if anyone is interested:
https://bitcointalksearch.org/topic/bitcoin-valuation-181037

Once I found a theory in which all the pieces fit, I felt I had no choice but to shift to all-in being my default position.

I'm thinking things are about to get reaaaaal fun Grin

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: Pale Phoenix on May 16, 2013, 05:52:18 PM

This probably isn't the place for an in depth philosophical discussion, so I'll just say that I don't at all believe those are the only two possibilities. Party on.

Actually I did forget about the time element of his $300k prediction,. Neither of those possibilities has to happen this year, but eventually one of them will.

UltimateReaper

newbie

Activity: 56

Merit: 0

Quote from: Gordonium on May 16, 2013, 06:08:05 PM

http://cdn.memegenerator.net/instances/400x/33281451.jpg

+1

http://24.media.tumblr.com/tumblr_mdggqtdCFO1qg0cqeo1_500.gif

UltimateReaper

newbie

Activity: 56

Merit: 0

Quote from: Miz4r on May 16, 2013, 06:06:28 PM

Quote from: UltimateReaper on May 16, 2013, 06:03:47 PM

Bitstamp! Don't tell me your down now...

y u do this

edit: well that was quick. Man, are we really going to rally now?

Yes we are, fasten your seatbelts please. Tongue

I've been bearish for a while now but you know what? Why the fuck not, I already bought back in.

To the moon!

Gordonium

sr. member

Activity: 392

Merit: 250

Luis_GT

full member

Activity: 126

Merit: 100

I'm all in already... and mining! Cool

Dalib

full member

Activity: 462

Merit: 101

A Top Web 3 Gaming Layer2 Provider

Quote from: UltimateReaper on May 16, 2013, 06:03:47 PM

Bitstamp! Don't tell me your down now...

y u do this

edit: well that was quick. Man, are we really going to rally now?

yes, bitstamp currently unavailable ... Shocked

now, ok for me, too Wink

Miz4r

legendary

Activity: 1246

Merit: 1000

Quote from: UltimateReaper on May 16, 2013, 06:03:47 PM

Bitstamp! Don't tell me your down now...

y u do this

edit: well that was quick. Man, are we really going to rally now?

Yes we are, fasten your seatbelts please. Tongue

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Warning!
Bitcoin recently made mainstream news across the globe, with this news comes a record amount of capital getting ready to be allocated in the bitcoin space. But at the same time bitcoin has had a rough couple of weeks, DDOS, hacks, government seizures, the works!, this has temporally scared the newcomers and their massives amounts of capital. Once the news spreads of bitcoins epic triumphs over insurmountable odds, Mass panic buying will once again take the market by storm

We are sitting on a ticking time bomb! The market may blow the fuck up at any moment.

proceed to the nearest exchange and go crazy

This is not a drill, I repeat this is not a drill!

TIME IS NOW

fr33d0miz3r

hero member

Activity: 518

Merit: 500

Don't forget about bears between us

phoenix1

hero member

Activity: 798

Merit: 1000

Quote from: UltimateReaper on May 16, 2013, 06:03:47 PM

Bitstamp! Don't tell me your down now...

y u do this

Up 4 me

phoenix1

hero member

Activity: 798

Merit: 1000

It's pure Gox-comedy that this was ever possible in the first place Cheesy

...
"Until now you could just pretend you had money or coins and place orders ..."

Bitstamp (rightly) won't let you do this. I'd be surprised if there are many exchanges on which this was ever possible. OK ... you can list something on Ebay that you don't have, but that's a bit different ...

UltimateReaper

newbie

Activity: 56

Merit: 0

Bitstamp! Don't tell me your down now...

y u do this

edit: well that was quick. Man, are we really going to rally now?

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