Why? | Bitcointalksearch.org

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: nobbynobbynoob on October 27, 2012, 01:21:40 PM

Quote from: Realpra on October 27, 2012, 12:10:02 PM

Quote from: nobbynobbynoob on October 27, 2012, 09:11:26 AM

Would you like to bet BTC10 with me? I wager BTC10 that the price will not be equal to or above USD 15 on the stroke of February 1 2013 at 00:00 UTC. If the price is below USD 15 at that point, you pay me BTC10. If the price is equal to or above USD 15, I pay you BTC10. Sound good?

That's a bit much, lets say 1 BTC and it's a deal - I'm not a (very) betting man;)

Yes, still a deal. BTC1 it is then.

Realpra won this bet - congratulations!

BTC1 paid as per Realpra's instructions. Transaction id: 09f8cff1309abc61e26d8db4ce720fd7e4bf39f04d7c0633ee5ff9a1db1e7308

Realpra

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I'm feeling rather good about my bet nobbynobbynoob Cheesy

(That's his name, page 4-5, I'm not making fun of him Wink

)

Just a 1.5 $ rise in value or ~10% in almost 2 months... Bitcoin has performed like that easily before.

Luno

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PI is on Netflix

helloworld

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*sigh*

Richy_T

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Psi

Psy

bb113

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Phi:

Pi:

Spekulatius

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Quote from: Mushoz on October 31, 2012, 07:22:01 PM

Quote from: Luno on October 31, 2012, 06:23:44 PM

Fibonacci retractments. So the movie "PHI" was real?

What movie? Sounds interesting, but I can't find a movie named Phi on IMDB.

http://www.imdb.com/title/tt0138704/

Mushoz

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Bitbuy

Quote from: Luno on October 31, 2012, 06:23:44 PM

Fibonacci retractments. So the movie "PHI" was real?

What movie? Sounds interesting, but I can't find a movie named Phi on IMDB.

molecular

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Activity: 2772

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Quote from: Spekulatius on October 31, 2012, 06:40:44 PM

Quote from: molecular on October 31, 2012, 06:14:10 PM

Quote from: Spekulatius on October 31, 2012, 03:27:41 PM

back to topic: "WHY?"

A friend pointed out to me, that the recent drop was due to the latest of some Fibonacci retracements, that balanced the price.
If you look at historic MtGox data, Fibonacci retracements work suprisingly well, the better the stronger the triggering price movement and the less distracting news, like with the past mini bubble burst from 15.xx USD to 7.8x USD with few big news or even fundamental changes.

"Fibonacci retractments" doesn't answer "why" the initial decline happened. Only says something about what might or might not happen after wards.

nice way to lmgtfy us, though Wink

It doesnt answer why it happened the day it did, but it does explain WHY it happened if you understand Fibunacci retracements as resault of mass psychology at work, the same reason for why chart patterns and trends come into existence. Its the market balancing out.

I probably don't understand Fibonacci retractments in that case. Might look into it, thanks for reminding.

Spekulatius

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Quote from: molecular on October 31, 2012, 06:14:10 PM

Quote from: Spekulatius on October 31, 2012, 03:27:41 PM

back to topic: "WHY?"

A friend pointed out to me, that the recent drop was due to the latest of some Fibonacci retracements, that balanced the price.
If you look at historic MtGox data, Fibonacci retracements work suprisingly well, the better the stronger the triggering price movement and the less distracting news, like with the past mini bubble burst from 15.xx USD to 7.8x USD with few big news or even fundamental changes.

"Fibonacci retractments" doesn't answer "why" the initial decline happened. Only says something about what might or might not happen after wards.

nice way to lmgtfy us, though Wink

It doesnt answer why it happened the day it did, but it does explain WHY it happened if you understand Fibunacci retracements as resault of mass psychology at work, the same reason for why chart patterns and trends come into existence. Its the market balancing out.

Spekulatius

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It really happened man! It was actually filmed as an experimental documentary with lots of experimental camera perspectives and stuff (like the part when he's wearing that head mounted camera) about a mathematical prodigy. But after the events of the movie had taken place, the initial producers of the film (some students) bailed out and sold the rights to some other publisher that recut the material and marketed it as a fictional independant movie.

Luno

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Fibonacci retractments. So the movie "PHI" was real?

molecular

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Activity: 2772

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Quote from: Spekulatius on October 31, 2012, 03:27:41 PM

back to topic: "WHY?"

A friend pointed out to me, that the recent drop was due to the latest of some Fibonacci retracements, that balanced the price.
If you look at historic MtGox data, Fibonacci retracements work suprisingly well, the better the stronger the triggering price movement and the less distracting news, like with the past mini bubble burst from 15.xx USD to 7.8x USD with few big news or even fundamental changes.

"Fibonacci retractments" doesn't answer "why" the initial decline happened. Only says something about what might or might not happen after wards.

nice way to lmgtfy us, though Wink

Spekulatius

legendary

Activity: 1022

Merit: 1000

back to topic: "WHY?"

A friend pointed out to me, that the recent drop was due to the latest of some Fibonacci retracements, that balanced the price.
If you look at historic MtGox data, Fibonacci retracements work suprisingly well, the better the stronger the triggering price movement and the less distracting news, like with the past mini bubble burst from 15.xx USD to 7.8x USD with few big news or even fundamental changes.

molecular

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Quote from: Realpra on October 28, 2012, 03:19:02 PM

Quote from: ElectricMucus on October 28, 2012, 12:46:52 AM

Every proposal to provide at least some environment where people can actually trust each other (like for example third party signed transactions or taint systems) is trampled down

I have only seen bad ideas trampled down - taint very much one of them. Good ideas like decentralized stock exchanges and the like usually gather at least interest.

It's a little more than just gathering interest. People are actively discussing and multiple implementations are on the way.

I have to admit, though, that a certain tunnel vision of the crowd exists. Ideas that have the potential to threaten the throne of bitcoin are less likely to be welcomed than others. The reason is clearly fear.

Realpra

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Quote from: ElectricMucus on October 28, 2012, 12:46:52 AM

Every proposal to provide at least some environment where people can actually trust each other (like for example third party signed transactions or taint systems) is trampled down

I have only seen bad ideas trampled down - taint very much one of them. Good ideas like decentralized stock exchanges and the like usually gather at least interest.

ElectricMucus

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Marketing manager - GO MP

I think my criticism of blind Bitcoinism™ is anything but inconsistent.

You people get ahead of yourselves and miss so many opportunities by desperately trying to hard to make it something it can never be. Worse because of fear your devious plans to get wealthy at the expense of others fail you can't see the opportunity for innovation. Every proposal to provide at least some environment where people can actually trust each other (like for example third party signed transactions or taint systems) is trampled down while at the same time the scammers seize the opportunity to take the rest of what you once had - The potential to grow into a self sustaining economy.

This now also answered the question of: "Why?"

majamalu

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Quote from: ElectricMucus on October 27, 2012, 11:14:12 PM

Quote from: majamalu on October 27, 2012, 10:30:59 PM

Quote from: ElectricMucus on October 27, 2012, 12:14:39 PM

Quote from: majamalu on October 27, 2012, 12:00:18 PM

Quote from: ElectricMucus on October 27, 2012, 03:01:30 AM

Quote from: majamalu on October 27, 2012, 02:30:08 AM

Quote from: alexanderanon on October 26, 2012, 08:35:15 PM

What possible value did bitcoin provide you in "settling small everyday stuff" that couldn't have been accomplished with dollar cash? What percent of the world do you think has vaguely any interest whatsoever in participating in the economy in this "bitcoin enthusiast" fashion?

Today, less than 0.01%. Within a few years, probably 90%. In my opinion, this will be a consecuence of the collapse of the financial system based on fiat money. Panic is a powerful driver.

At first we are in this "collapse" since 2008.

Second: What makes you think the majority would head to Bitcoin?

I don't know the date; I just know this is not sustainable.

If they know how to use email, they will head to Bitcoin.

Bad analogy, since Bitcoin is not a mere protocol it includes a semi-mandatory checking system.
Might the concept or even the source code play a major role in the aftermath of a fiat-system collapse, possible who knows. But the voluntary creation of a new elite? (us, the people who already own bitcoins, not a few satoshis)

Definitely not.

I would call it voluntary protection of their own wealth.

Don't try to be a smartass.

Get into my argument or leave it before you embarrass yourself.

I would get into your argument, but I can't find it. Maybe it's because I'm looking for consistency.

ElectricMucus

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Marketing manager - GO MP

Quote from: majamalu on October 27, 2012, 10:30:59 PM

Quote from: ElectricMucus on October 27, 2012, 12:14:39 PM

Quote from: majamalu on October 27, 2012, 12:00:18 PM

Quote from: ElectricMucus on October 27, 2012, 03:01:30 AM

Quote from: majamalu on October 27, 2012, 02:30:08 AM

Quote from: alexanderanon on October 26, 2012, 08:35:15 PM

What possible value did bitcoin provide you in "settling small everyday stuff" that couldn't have been accomplished with dollar cash? What percent of the world do you think has vaguely any interest whatsoever in participating in the economy in this "bitcoin enthusiast" fashion?

Today, less than 0.01%. Within a few years, probably 90%. In my opinion, this will be a consecuence of the collapse of the financial system based on fiat money. Panic is a powerful driver.

At first we are in this "collapse" since 2008.

Second: What makes you think the majority would head to Bitcoin?

I don't know the date; I just know this is not sustainable.

If they know how to use email, they will head to Bitcoin.

Bad analogy, since Bitcoin is not a mere protocol it includes a semi-mandatory checking system.
Might the concept or even the source code play a major role in the aftermath of a fiat-system collapse, possible who knows. But the voluntary creation of a new elite? (us, the people who already own bitcoins, not a few satoshis)

Definitely not.

I would call it voluntary protection of their own wealth.

Don't try to be a smartass.

Get into my argument or leave it before you embarrass yourself.

majamalu

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Activity: 1652

Merit: 1000

Quote from: ElectricMucus on October 27, 2012, 12:14:39 PM

Quote from: majamalu on October 27, 2012, 12:00:18 PM

Quote from: ElectricMucus on October 27, 2012, 03:01:30 AM

Quote from: majamalu on October 27, 2012, 02:30:08 AM

Quote from: alexanderanon on October 26, 2012, 08:35:15 PM

What possible value did bitcoin provide you in "settling small everyday stuff" that couldn't have been accomplished with dollar cash? What percent of the world do you think has vaguely any interest whatsoever in participating in the economy in this "bitcoin enthusiast" fashion?

Today, less than 0.01%. Within a few years, probably 90%. In my opinion, this will be a consecuence of the collapse of the financial system based on fiat money. Panic is a powerful driver.

At first we are in this "collapse" since 2008.

Second: What makes you think the majority would head to Bitcoin?

I don't know the date; I just know this is not sustainable.

If they know how to use email, they will head to Bitcoin.

Bad analogy, since Bitcoin is not a mere protocol it includes a semi-mandatory checking system.
Might the concept or even the source code play a major role in the aftermath of a fiat-system collapse, possible who knows. But the voluntary creation of a new elite? (us, the people who already own bitcoins, not a few satoshis)

Definitely not.

I would call it voluntary protection of their own wealth.

Topic: Why? (Read 9536 times)