The intrinsic value argument is just a pile of pish if you ask me.
You must have some tartan roots BitcoinBunny to be using that phrase?
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5883. (Read 26715635 times)
March 16, 2021, 09:46:54 PM
The intrinsic value argument is just a pile of pish if you ask me.
You must have some tartan roots BitcoinBunny to be using that phrase?
March 16, 2021, 09:41:36 PM
There's no such thing as intrinsic value anyway. All value is subjective.
I've never understood the intrinsic value argument against Bitcoin.
You can’t eat a bitcoin. Etc.
But all of the same applies to the Euro.
Furthermore, Bitcoin does have an intrinsic value: The ability to transact securely, permissionlessly, almost frictionlessly, moving money around the world with the click of a button. It is an intangible value, but it is a value that is intrinsic to the nature of Bitcoin itself. That drives its value as social money. € and $ don’t have this value.
Let's take my favourite subject outside of BTC for example; whores.
I can pay a local whore in my country about $150 for an hour
I can pay a local whore in my country about $150 for an hour
If you hired that whore for an hour in 2011 (say, $5/BTC), and she held (or used your dollars to buy bitcoins, then held), then her bodily investment in that hour would now be worth about $1.7 million.
Who the fuck is she, to make so much money in an hour (plus ten years of holding)? Phryne?
* nullius would pay good BTC for some time with Phryne.
March 16, 2021, 09:35:21 PM
I have the WO saved as a bookmark, but one which always takes me back to page 673 (and I leave it that way just for old times sake). But today I noticed that the post which is normally at the top of that page has gone and can now be found much earlier, suggesting that someone has been deleting some pre−June 2013 posts.
Wondering why. Perhaps for OpSec? Perhaps there was another deletion event à la Boblaw? Perhaps it's not even noteworthy.
From what I can see you can delete your own old posts from years ago just fine which would explain it. Wondering why. Perhaps for OpSec? Perhaps there was another deletion event à la Boblaw? Perhaps it's not even noteworthy.
March 16, 2021, 09:31:31 PM
I have the WO saved as a bookmark, but one which always takes me back to page 673 (and I leave it that way just for old times sake). But today I noticed that the post which is normally at the top of that page has gone and can now be found much earlier, suggesting that someone has been deleting some pre−June 2013 posts.
Wondering why. Perhaps for OpSec? Perhaps there was another deletion event à la Boblaw? Perhaps it's not even noteworthy.
Wondering why. Perhaps for OpSec? Perhaps there was another deletion event à la Boblaw? Perhaps it's not even noteworthy.
March 16, 2021, 09:30:02 PM
March 16, 2021, 09:26:29 PM
The tulip mania inflated in what fiat currency?
None. Fiat currency in the modern sense (debt-backed shitcoins) had not yet been invented.
The relevant currency was Dutch guilders (gulden, symbol ƒ in reference to the old florin). But buyers oftentimes bartered huge amounts of other goods for tulip bulbs, with the trades denominated in ƒ as a unit of account. Imagine the equivalent of a truckload of everything from fine food to clothing to silverware (in the pre-industrial era!) being traded for one tulip bulb.
How many people are using that currency today?
None. The Netherlands switched to the Euro in 2002—and the “guilder” that it switched from was not the guilder of the tulip mania time, just as the dollar today is an awful lot different than the currencies of the past.
How many people are buying tulips today?
Many. But not in exchange for truckloads of goods.
Hmm, would be interesting to see the prices for tulips at the peak in current currency adjusted for inflation. Betting it'd be something like a fraction of a cent per tulip, you'd be better off buying a tulip at a peak vs holding fiat for all these years. Can someone maths this?
Contrary to both of your assumptions, the mainstream economic system has not always been this bad. If it had been, then long ago, civilization would have collapsed; and humans probably would have gone extinct from self-inflicted mass-catastrophe (war, famine, failure to reproduce at replacement level...).
March 16, 2021, 09:20:17 PM
Common ECB, get with it, no intrinsic value is a feature not a handicap you fools. Besides, the tulip spiel is ridiculously tired, try again.
Quote
@FrankElderson
: Tulips are beautiful flowers. For those who remember 17th century Tulip Mania, they also serve as a reminder of what can happen when prices don’t reflect intrinsic value #AskECB
https://twitter.com/ecb/status/1371856153370574854?s=20: Tulips are beautiful flowers. For those who remember 17th century Tulip Mania, they also serve as a reminder of what can happen when prices don’t reflect intrinsic value #AskECB
There's no such thing as intrinsic value anyway. All value is subjective.
March 16, 2021, 09:19:21 PM
I've never understood the intrinsic value argument against Bitcoin.
People will pay whatever they want to pay for something that is scarce and desirable such as BTC.
Whether it's a painting some Italian dude made centuries ago or a painting done by some modern day clown who supplies it with an automated shredder that only half worked.
Can you "picture" the Mona Lisa go back to zero bucks, ever? Maybe if you burn it it might lose some value. Even then the ashes would still be worth millions I reckon.
Let's take my favourite subject outside of BTC for example; whores.
I can pay a local whore in my country about $150 for an hour whilst the value given could be far better and memorable than a session from the number one popular whore in the world which will cost about 10 times as much.
10 sessions with a local top notch whore seems better value to me personally but for others they will want the number one popular whore in the world.
The intrinsic value argument is just a pile of pish if you ask me.
People will pay whatever they want to pay for something that is scarce and desirable such as BTC.
Whether it's a painting some Italian dude made centuries ago or a painting done by some modern day clown who supplies it with an automated shredder that only half worked.
Can you "picture" the Mona Lisa go back to zero bucks, ever? Maybe if you burn it it might lose some value. Even then the ashes would still be worth millions I reckon.
Let's take my favourite subject outside of BTC for example; whores.
I can pay a local whore in my country about $150 for an hour whilst the value given could be far better and memorable than a session from the number one popular whore in the world which will cost about 10 times as much.
10 sessions with a local top notch whore seems better value to me personally but for others they will want the number one popular whore in the world.
The intrinsic value argument is just a pile of pish if you ask me.
March 16, 2021, 08:40:14 PM
The tulip mania inflated in what fiat currency?
How many people are using that currency today?
How many people are buying tulips today?
How many people are using that currency today?
How many people are buying tulips today?
Hmm, would be interesting to see the prices for tulips at the peak in current currency adjusted for inflation. Betting it'd be something like a fraction of a cent per tulip, you'd be better off buying a tulip at a peak vs holding fiat for all these years. Can someone maths this?
March 16, 2021, 08:30:52 PM
3/ How low can it get? In 2017, the fastest doubling pace - 12 days - happened on December 7th, nine days before the 3yr peak:
4/ In 2013, it got down to *4 days*, one week before that cycle's peak:
5/ What about this cycle? So far in the 2020/21 bull market, the fastest pace - 22 days - was reached at the Jan 7th ~$42k local peak.
4/ In 2013, it got down to *4 days*, one week before that cycle's peak:
5/ What about this cycle? So far in the 2020/21 bull market, the fastest pace - 22 days - was reached at the Jan 7th ~$42k local peak.
March 16, 2021, 08:14:04 PM
Looked? I'm sure he must be blind too.
Hairy palms goddamit...
palm hair long enough to braid probably
March 16, 2021, 07:55:19 PM
The tulip mania inflated in what fiat currency?
How many people are using that currency today?
How many people are buying tulips today?
How many people are using that currency today?
How many people are buying tulips today?
March 16, 2021, 07:24:22 PM
Quote
1 BTC = 1 BTC
or is it
Quote
1 BTC == 1 BTC
?technically the first statement is not a boolean.
but the second statement is TRUE .
..but if you compare strings you have to use quotes
Quote
"1 BTC" == "1 BTC"
"1 BTC" = "1 BTC"
would just raise an error, right?
So:
$1 in 1980 is equivalent in purchasing power to about $3.19 today becomes: 1BTC on January 1st 2012 is equivalent in purchasing power to about 0.00008976BTC now.
According to my simple calculations, I get to some different results:
While 1 Dollar in Jan 2012 has the same purchasing Power than 1.13 Dollars in Feb2021,1 Bitcoin in Jan2012 has the same purchasing power than 0.000124927228676061 Bitcoin in Feb2021.
Please check me!
March 16, 2021, 07:02:57 PM
Looked? I'm sure he must be blind too.
Hairy palms goddamit...
March 16, 2021, 07:01:01 PM
Common ECB, get with it, no intrinsic value is a feature not a handicap you fools. Besides, the tulip spiel is ridiculously tired, try again.
Quote
@FrankElderson
: Tulips are beautiful flowers. For those who remember 17th century Tulip Mania, they also serve as a reminder of what can happen when prices don’t reflect intrinsic value #AskECB
https://twitter.com/ecb/status/1371856153370574854?s=20: Tulips are beautiful flowers. For those who remember 17th century Tulip Mania, they also serve as a reminder of what can happen when prices don’t reflect intrinsic value #AskECB
I’m disinclined to load twit javascript to see this thread, so someone please tell me: Are they talking about their own shitcoin?
If prices must reflect intrinsic value, then a loaf of bread must be priced at €∞.
And a tulip bulb must also be worth €∞.
And a bitcoin must be worth €∞/0. See my signature.
He was asked about a vase of tulips on his desk, "Which is worth more, the tulips or BTC?"
I know right? Was certain he was referring to the euro at first.
March 16, 2021, 06:56:18 PM
Observing a nice little rise $56400
Still for ants, but it should grow.
BTW, the Delta Investment Portfolio Tracker app (on Android) is working great. Notifications come nicely. Only bad thing is, so far they've been notifying me of BTC price drops... Hopefully. my phone will soon start bleeping constantly due to the expected UPpity!
LOL. You know... there will always be ants. It's just that eventually even the ants are going to look like something out of a Japanese Mothra film.
Eventually we will see 100k daily candles.
Or Bitcoin has failed.
March 16, 2021, 06:38:40 PM
Looked? I'm sure he must be blind too.
March 16, 2021, 06:32:08 PM
How many new stimmy-coiners will be hodlers?
If them whales play it like recently, how many of the newcoiners will stand the stress, but hodl through future FUD too?
Better get some popcorn from the store next time.
Unfortunately, the way that tends to work is you go back home and say "Mum, do you remember that PC I had ten years ago?" and get the reply "It kept getting in the way and I needed somewhere to put the exercise bike so I threw it out". And similar stories.
4 years ago when BTC blew up past 1K I plugged in my old PC I had built in 2006 and used till 2010/2011 when I switched to Mac.
I was hoping I had forgotten about some BTC that I might have purchased in a drunk state at some point or find an old wallet or whatever.
All I could find was 500 gigs of porn.
At least I still have the porn.
500gb?!
you must have looked pretty pale-faced back then
If them whales play it like recently, how many of the newcoiners will stand the stress, but hodl through future FUD too?
Better get some popcorn from the store next time.
my math is bad "lol". this is really terrible, if I buy Bitcoin when it price $0.06, I just hope to forget about Bitcoin for a moment and remember Bitcoin 10 years later 
Unfortunately, the way that tends to work is you go back home and say "Mum, do you remember that PC I had ten years ago?" and get the reply "It kept getting in the way and I needed somewhere to put the exercise bike so I threw it out". And similar stories.
4 years ago when BTC blew up past 1K I plugged in my old PC I had built in 2006 and used till 2010/2011 when I switched to Mac.
I was hoping I had forgotten about some BTC that I might have purchased in a drunk state at some point or find an old wallet or whatever.
All I could find was 500 gigs of porn.
At least I still have the porn.
500gb?!
you must have looked pretty pale-faced back then
March 16, 2021, 06:31:37 PM
Stimulus Checks Are Coming To Big Banks On Wednesday At 9:00 A.M.
www.forbes.com/sites/sarahhansen/2021/03/16/stimulus-checks-are-coming-to-big-banks-on-wednesday-at-900-am
Major U.S. banks and credit unions must make the first wave of stimulus payments available to eligible customers by Wednesday at 9:00 a.m., local time—the official payment date designated by the Internal Revenue Service.
www.forbes.com/sites/sarahhansen/2021/03/16/stimulus-checks-are-coming-to-big-banks-on-wednesday-at-900-am
Major U.S. banks and credit unions must make the first wave of stimulus payments available to eligible customers by Wednesday at 9:00 a.m., local time—the official payment date designated by the Internal Revenue Service.
March 16, 2021, 06:28:36 PM
my math is bad "lol". this is really terrible, if I buy Bitcoin when it price $0.06, I just hope to forget about Bitcoin for a moment and remember Bitcoin 10 years later
Unfortunately, the way that tends to work is you go back home and say "Mum, do you remember that PC I had ten years ago?" and get the reply "It kept getting in the way and I needed somewhere to put the exercise bike so I threw it out". And similar stories.
4 years ago when BTC blew up past 1K I plugged in my old PC I had built in 2006 and used till 2010/2011 when I switched to Mac.
I was hoping I had forgotten about some BTC that I might have purchased in a drunk state at some point or find an old wallet or whatever.
All I could find was 500 gigs of porn.
At least I still have the porn.
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