Well that was an unexpected outcome! Good on bossian for following through on his world. I wanted to with-hold judgment as long as I could. I guess its a good time to close this thread, even if the mystery of the all-time high was never officially solved.
Stay tuned for next week's episode.
Topic: What is the actual all-time high, really? (re: LFC's bet with Bossian) (Read 371 times)
December 04, 2020, 02:14:40 AM
December 04, 2020, 01:42:28 AM
Guys, I need to make this post.
Can everybody please change their red trust on Bossian to neutral.
The bet was for 0.05BTC but I was very surprised to get a PM from Bossian. He has paid me 0.04BTC with the remainder to be paid next month.
It’s not the full amount yet but I’m so surprised he paid most of it.
When he pays the rest I will leave green trust.
Can everybody please change their red trust on Bossian to neutral.
The bet was for 0.05BTC but I was very surprised to get a PM from Bossian. He has paid me 0.04BTC with the remainder to be paid next month.
It’s not the full amount yet but I’m so surprised he paid most of it.
When he pays the rest I will leave green trust.
December 04, 2020, 01:39:23 AM
This was also my argument/question a while ago and I did not get a precise answer on this. Let's take Zimbabwe as an example, because they had a Fiat crisis in their country (still has) and some people there started to buy bitcoins to protect the value of their Fiat savings that were being destroyed by Hyperinflation.
As a result of that, the Bitcoin demand rose sharply in that country and it was reported that people even paid up to $25 000 US for bitcoin. Can we then say, the All-time-high price is $25 000, because a small country and a few 1000 people paid $25 000 for it?
As a result of that, the Bitcoin demand rose sharply in that country and it was reported that people even paid up to $25 000 US for bitcoin. Can we then say, the All-time-high price is $25 000, because a small country and a few 1000 people paid $25 000 for it?
Nope! Zimbabwe does not justify the Bitcoin Price.
We're talking of the general bitcoin price globally not just Zimbabwe
Who are the "we" that you are talking about? Could you for some reason think ..that the people who replied to this thread has some authority to decide what the All-time-high should be? (The responses to this thread comes from people with opinions, not from people with authority over millions of Bitcoin owners)
The best measure for the "average" Bitcoin price, should come from a combined price that are sourced from exchanges that allows customer from all over the world. (Example : Take the price from say, Bitfinex / Bitstamp / Kraken / Coinbase and some more exchanges from all over the world and divide that amount by the amount of exchanges that were used to get the average.)
Example : Bitfinex ($19500) + Bitstamp ($19200) + Kraken ($20 000) + Coinbase ($19800) = $78500 divided by 4 = $ 19625 average global Bitcoin price. (The value should be in the same Fiat currency and the more data sources used, would represent more countries for a global price.)
That would be a better representation of the global Bitcoin price and what the all-time-high should be.
The US Dollar can then be converted to any other Fiat currency, to be used by people with their local currency. 
December 04, 2020, 12:56:57 AM
This was also my argument/question a while ago and I did not get a precise answer on this. Let's take Zimbabwe as an example, because they had a Fiat crisis in their country (still has) and some people there started to buy bitcoins to protect the value of their Fiat savings that were being destroyed by Hyperinflation.
As a result of that, the Bitcoin demand rose sharply in that country and it was reported that people even paid up to $25 000 US for bitcoin. Can we then say, the All-time-high price is $25 000, because a small country and a few 1000 people paid $25 000 for it?
As a result of that, the Bitcoin demand rose sharply in that country and it was reported that people even paid up to $25 000 US for bitcoin. Can we then say, the All-time-high price is $25 000, because a small country and a few 1000 people paid $25 000 for it?
Nope! Zimbabwe does not justify the Bitcoin Price.
We're talking of the general bitcoin price globally not just Zimbabwe
December 04, 2020, 12:45:51 AM
This was also my argument/question a while ago and I did not get a precise answer on this. Let's take Zimbabwe as an example, because they had a Fiat crisis in their country (still has) and some people there started to buy bitcoins to protect the value of their Fiat savings that were being destroyed by Hyperinflation.
As a result of that, the Bitcoin demand rose sharply in that country and it was reported that people even paid up to $25 000 US for bitcoin. Can we then say, the All-time-high price is $25 000, because a small country and a few 1000 people paid $25 000 for it?
As a result of that, the Bitcoin demand rose sharply in that country and it was reported that people even paid up to $25 000 US for bitcoin. Can we then say, the All-time-high price is $25 000, because a small country and a few 1000 people paid $25 000 for it?
December 04, 2020, 12:16:24 AM
I don't get why people make bets and don't pay up. It's less than 1000 USD at todays prices, which people make in less than a month of signature posting. Surely less than your honor is worth
Because a bet is not a bet unless the conditions are clearly defined (meaning the all time high value should have been agreed upon at the time the bet was made not now) and the bet amount should have been put in a multi-sig address preferably using a third party (escrow) using 2of3 multi-sig scheme so that neither side could back out of the bet.Other than that, people making random promises on the internet is just hot air.
December 03, 2020, 10:34:54 PM
Bossian clearly stated that $19.5 ish
I was giving him the benefit of the doubt that he was agreeing to the terms set forth by LFC in the post previous. He should have hired me as his attorney as I could have made some strong arguments for him.
And wait!!! He edited it not even long ago so this was not his actual number.
When the deal was made it was $19k that he meant.
When the deal was made it was $19k that he meant.
Well now this changes everything. Bossian trying to be sly about shifting his numbers confirms that in his mind the bet was based off of the $19k number. Very, very interesting. Good catch Royse.
Would you close the topic because the winner is found?
December 03, 2020, 07:12:48 PM
Would the Korean exchanges count on the ATH metric? Because those exchanges topped @ $20k or more AFAIK.
Negative.
South Korea is a closed market. No money can get in or out. That makes it an irrelevance compared to everywhere else. I'm surprised it's managed to remain relatively anchored to prices outside.
December 03, 2020, 01:13:51 PM
So clearly there is some debate here as to what the phrase "All-Time High" actually means. Perhaps in a day or two this will all be irrelevant but for the time being, what do you consider to be the most accurate measure of bitcoin's all-time high? Has LFC won the bet yet, or nah?
For any practical purpose, the sides should agree beforehand on which exchange or index to use for tracking the price - there's no other way around it. If it's a casual discussion about ATH, then a few percents of difference between exchanges can be ignored.
I think this particular bet is almost decided, because the chance that the price will establish a new ATH on all exchanges in this year or the next one is extremely high. But without an established agreement on where to track the price, this bet can't be cleanly resolved until overwhelming majority of exchanges show a new ATH.
December 03, 2020, 12:18:11 PM
Would the Korean exchanges count on the ATH metric? Because those exchanges topped @ $20k or more AFAIK. Anyway, I don’t think the other dude would honor the bet, even after him stating that LFC should honor the bet (the irony). This forum’s feature of showing whether the post was edited is actually pretty neat and saves the extra steps for proving that someone didn’t say something at some point.
December 03, 2020, 11:18:56 AM
I don't get why people make bets and don't pay up. It's less than 1000 USD at todays prices, which people make in less than a month of signature posting. Surely less than your honor is worth
It's quite simple. Dude is anonymous, and since he just makes posts concerning trading anyway(haven't joined a campaign as it seems), some neg trust probably wouldn't hurt him assuming he/she continues using the same account.
December 03, 2020, 11:18:17 AM
Bossian clearly stated that $19.5 ish
I was giving him the benefit of the doubt that he was agreeing to the terms set forth by LFC in the post previous. He should have hired me as his attorney as I could have made some strong arguments for him.
And wait!!! He edited it not even long ago so this was not his actual number.
When the deal was made it was $19k that he meant.
When the deal was made it was $19k that he meant.
Well now this changes everything. Bossian trying to be sly about shifting his numbers confirms that in his mind the bet was based off of the $19k number. Very, very interesting. Good catch Royse.
Quote
I say we see a new ATH before 2022
I think it's still disputable whether it happened or not. It did happen if we take the maximum price of 2017 according to Coingecko (I hope I caught the highest one):
But it did not happen if we judge it based on Coinmarketcap:
But if it's Bitstamp as LFC pointed out, then the new ATH was already established, it seems.
December 03, 2020, 10:53:18 AM
I don't get why people make bets and don't pay up. It's less than 1000 USD at todays prices, which people make in less than a month of signature posting. Surely less than your honor is worth
Bossian was a troll on WO who was picking everyone and was trying to convince with his shit! He even started arguing with all of us at that time. Just an attention seeker. This bet was never meant to pay for him if he was lost which he lost anyway. When we asked him to escrow he was denying and talking big words. I think it's time for me to tag him unless he pays up, the tag stays.
December 03, 2020, 09:18:08 AM
I usually follow the same exchange and decide if a new ATH is reached by looking at price on that particular exchange. The exchange that I had on my price ticker was always bitstamp and now the ath there is higher than it was in 2017. So if the price has reached a new high on the same exchange it means we have a new high.
I don't get why people make bets and don't pay up. It's less than 1000 USD at todays prices, which people make in less than a month of signature posting. Surely less than your honor is worth
I don't get why people make bets and don't pay up. It's less than 1000 USD at todays prices, which people make in less than a month of signature posting. Surely less than your honor is worth
December 03, 2020, 09:13:43 AM
Does it matter what exactly the ATH price was? Or which data source should it come from?
Here is their deal.
Want to put your money where your mouth is?
0.05BTC bet?
Deal.
We won't see 19.5k(ish) (new ATH) again in 2020 or 2021, book it.
Hope you will honor this bet
I will if wrong.
It is very clear from their very own words that Bossian lost the bet to LFC_Bitcoin. But as everyone suspects, Bossian won't stick to his word.
Here is their deal.
Want to put your money where your mouth is?
0.05BTC bet?
- I say we see a new ATH before 2022
- You say we won’t?
We won't see 19.5k(ish) (new ATH) again in 2020 or 2021, book it.
Hope you will honor this bet
I will if wrong. It is very clear from their very own words that Bossian lost the bet to LFC_Bitcoin. But as everyone suspects, Bossian won't stick to his word.
December 03, 2020, 08:45:04 AM
Edited post = he will never cough up. He always struck me as a bit of a maggot anyway.
I'm not sure why Bitstamp is the reference but that'll do me. These averaging places all use different measures so there's no consistency. Others are low volume like Gemini or use USDT.
I guess Coinbase is the next one.
I'm not sure why Bitstamp is the reference but that'll do me. These averaging places all use different measures so there's no consistency. Others are low volume like Gemini or use USDT.
I guess Coinbase is the next one.
December 03, 2020, 07:41:17 AM
He’s not going to pay me, I’m pretty sure of that.
He won’t be able to return to the forum & post regularly again. Everybody is going to paint him red & he’ll have no respect here.
Edit - It’s widely acknowledged that we use Bitstamp as a price reference btw.
He won’t be able to return to the forum & post regularly again. Everybody is going to paint him red & he’ll have no respect here.
Edit - It’s widely acknowledged that we use Bitstamp as a price reference btw.
December 03, 2020, 06:55:08 AM
Bossian clearly stated that $19.5 ish
I was giving him the benefit of the doubt that he was agreeing to the terms set forth by LFC in the post previous. He should have hired me as his attorney as I could have made some strong arguments for him.
And wait!!! He edited it not even long ago so this was not his actual number.
When the deal was made it was $19k that he meant.
When the deal was made it was $19k that he meant.
Well now this changes everything. Bossian trying to be sly about shifting his numbers confirms that in his mind the bet was based off of the $19k number. Very, very interesting. Good catch Royse.
December 03, 2020, 06:52:20 AM
When Bitcoin price clocked $19,8k+ on Binance exchnage, i posted to my friends about we experienced another All Time High, they all argued, i couldn't understood their arguments because we all traded in different exchanges. This graph has just clearly stated that we surpassed 2017 All Time High some days back.
December 03, 2020, 06:47:01 AM
In my opinion, in the situation under consideration, it is advisable to focus on the price on the Bitfinex cryptocurrency exchange. It was the most popular cryptocurrency exchange in 2017. On November 30, 2020, the bitcoin price on this exchange was $ 19,891. This is a historic event! I think LFC_Bitcoin won the bet.
$ 20,000 is a very strong psychological level for the price of bitcoin. Will we be able to see the price of bitcoins above $ 20,000 in 2021? I cannot answer this question. However, this is not so important. Bitcoin price will hit new records in the next decade (2021-2030).
$ 20,000 is a very strong psychological level for the price of bitcoin. Will we be able to see the price of bitcoins above $ 20,000 in 2021? I cannot answer this question. However, this is not so important. Bitcoin price will hit new records in the next decade (2021-2030).
Jump to: