Which national currencies are worth more than 1 bitcoin per 1 of their main unit currently?
None. As far as i konw the british pound sterling and the latvian lat has the most value/unit.
(Maybe there are more exotic ones though?)
All the major currencies are (still) far below parity:
USD below
EUR below
GBP below
JPN below
CHF below
AUD below
CAD below
NDZ below
HKD below
PLN below
CSK below
NOK below
SEK below
DEK below
ZAR below
RNB/CNY below
LVL (Latvian Lat) = 1,41 EUR (still below)
Well, does anyone know a currency which has a higher value/unit as LVL? (A little off topic but would be intersting)
Topic: Why is BTC in the toilet right now? - page 2. (Read 13247 times)
Just curious... stopped paying attention for a week, and now all of a sudden we're at 8 bucks.
The markets are down across the board. Most likely people are trying to get to less risky investments and don't see the difference between a bitcoin and a buck.
I just checked #bitcoin-market, and I still see a big difference between a bitcoin and a buck. About $6.50 difference in fact.
We should be celebrating still, as we not only are still in the act of breaking the dollar parity barrier but also various other currency's units parity barriers. Which national currencies are worth more than 1 bitcoin per 1 of their main unit currently?
I do agree though that trying to compare with and exchange with fiat is a horrible mess, we should continue equipping as many nations as possible with their own national blockchain-based currency even if there is little to no chance of their government actually thanking us for doing so. At least it will let the speculators speculate between umpteen "national currencies" without having to deal with the crap the fiat system seemingly makes anyone go through who they suspect might be trying to move out of fiat... (oh you are moving out? well don't forget we will be happy to charge that back at any moment for you, thereby screwing those who like you apparently are interested in a non fiat currency...)
-MarkM-
the price of btc has very little to do with how much it cost to make them... its all about supply and demand. its like gold and steal... doesn't cost more to mine gold, but gold is more valuable cuz there is less of it and lots of people want it....
You're just guessing now. Iron ore sells for around 113$ US per tonne, and 1/3 of that ore is converted to steel. The cost of mining gold is around $300 per ounce, and on average maybe 3 tons of ore are required to get one ounce.
The mining costs for gold are obviously MUCH higher because you've got to move much much more ore to get any metal.
So I would also imagine that your speculation in the link between the cost of mining bitcoin versus their price, to be also a guess. IE wrong.
Quote
- US announcing law against virtual currencies including bitcoin (from 27th of September, if i recall correctly)
this is why internet forums are filled with idiots. This did not happen, you are just another clueless dumb fuk posting random anonymous thoughts that fill that
empty vacuous object called your head.
What drivel this place spews.
- Mt. Gox "hack" (this was the beginning of the downward movement and most improtant key factor to all of this) / FIRST big hit
This is incorrect. The price fell to $10 from the all-time high about a week before the MtGox hack and downtime.
Which would not have been a problem if the subsequent "hack" and all the other desasters did not occur.
It would've been forgotten for long by now.
Just curious... stopped paying attention for a week, and now all of a sudden we're at 8 bucks.
The markets are down across the board. Most likely people are trying to get to less risky investments and don't see the difference between a bitcoin and a buck.
Yeah it is looking to be a major crash.
There is a good and a bad way to view this:
The bad: Hackers and thieves just fucked up the biggest possibility for real electronic money the world has ever seen, and maybe will see for a long time?
The good: If the prices tank fast enough, all those hackers and thieves may not have sold out fast enough and barely get jack shit for all their "effort" Fuck em.
There is a good and a bad way to view this:
The bad: Hackers and thieves just fucked up the biggest possibility for real electronic money the world has ever seen, and maybe will see for a long time?
The good: If the prices tank fast enough, all those hackers and thieves may not have sold out fast enough and barely get jack shit for all their "effort" Fuck em.
- Mt. Gox "hack" (this was the beginning of the downward movement and most improtant key factor to all of this) / FIRST big hit
This is incorrect. The price fell to $10 from the all-time high about a week before the MtGox hack and downtime.
Intersango - too small volume
Bitmarket.eu - person-to-person (meaning delays in exchange with bank wire) and too small volume as well
(look at the prices: while the mt. gox rate goes down and down people still want to sell at 7-8 Euro: no one who invests (like in other assets) would buy for a 41-42% premium (EUR/USD=1,42); only hard-core believers who earn enough fiat and are able to "wait" it out can afford to do so - extreme minority)
Why BTC is down the toilet (from an exchange point of view):
- Mt. Gox "hack" (this was the beginning of the downward movement and most improtant key factor to all of this) / FIRST big hit
- Mt. Gox rollback (very bad for serious investors)
- Realizing that almost no site/exchange is regulated (they more or less all could cut and run w/o any repercussions)
- Closing of EUR-Sepa transfer to/from Mt Gox / SECOND big hit
- many sites having problems / growing pains / insufficient security / insufficient customer service / insuffscient useabilty
- Trojans / Keylogger => many thefts, some of them huge
- US announcing law against virtual currencies including bitcoin (from 27th of September, if i recall correctly)
- Dwolla-Frauds / THIRD big hit
- MyBitcoin Scam & Bruce announcing to have lost 25k BTC along with many "new" merchants PLUS massive sell-offs / FOURTH big hit
- investors realizing that even though there is/was great potential for profit, bitcoin is not yet mature enough as an financial asset
BTW: I predict the prize will go sub 5.00 USD wihtin the next 72 hours (at least for a small time).
All of this has NOTHING to do with Bitcoin itself, but the problem remains: a currency is only as valuable as it is regarded by it's users:
- store of vaule
(short/mid: unless you are a miner who has free electricity or earns enough fiat otherwise that electicity is not a problem AT ALL - you have to consider fiat exchange rates since most people bought BTC with fiat; long-term: too uncertain - BTC might die completly or be replaced by a better version or somehow made illegal)
- medium of exchange (honestly, although I admire the the spark and the many, many projects in dev, ATM it's a joke)
(for dark market: too volatile, still too traceable)
- anonymity: not strong enough, too complicated to most people, too many vectors of failiure
- liquidity: non-existent for most users
(no EUR-SEPA anywhere, dwolla debacle, Paxum charges 50 USD for bankwires, for big players - not enough volume anywhere)
IF you can afford to hold you should hold and buy though, because when all of the above problems are solved the true potential will unfold itself. BUT this only works IF you can afford to loose everything you invested so far (because it very likely could also go down the drain completly) AND you earn enough fiat till BTC will be more or less stable AND widely accepted.
That's the problem ! (These conditions do not apply to most useres atm).
- Mt. Gox "hack" (this was the beginning of the downward movement and most improtant key factor to all of this) / FIRST big hit
- Mt. Gox rollback (very bad for serious investors)
- Realizing that almost no site/exchange is regulated (they more or less all could cut and run w/o any repercussions)
- Closing of EUR-Sepa transfer to/from Mt Gox / SECOND big hit
- many sites having problems / growing pains / insufficient security / insufficient customer service / insuffscient useabilty
- Trojans / Keylogger => many thefts, some of them huge
- US announcing law against virtual currencies including bitcoin (from 27th of September, if i recall correctly)
- Dwolla-Frauds / THIRD big hit
- MyBitcoin Scam & Bruce announcing to have lost 25k BTC along with many "new" merchants PLUS massive sell-offs / FOURTH big hit
- investors realizing that even though there is/was great potential for profit, bitcoin is not yet mature enough as an financial asset
BTW: I predict the prize will go sub 5.00 USD wihtin the next 72 hours (at least for a small time).
All of this has NOTHING to do with Bitcoin itself, but the problem remains: a currency is only as valuable as it is regarded by it's users:
- store of vaule
(short/mid: unless you are a miner who has free electricity or earns enough fiat otherwise that electicity is not a problem AT ALL - you have to consider fiat exchange rates since most people bought BTC with fiat; long-term: too uncertain - BTC might die completly or be replaced by a better version or somehow made illegal)
- medium of exchange (honestly, although I admire the the spark and the many, many projects in dev, ATM it's a joke)
(for dark market: too volatile, still too traceable)
- anonymity: not strong enough, too complicated to most people, too many vectors of failiure
- liquidity: non-existent for most users
(no EUR-SEPA anywhere, dwolla debacle, Paxum charges 50 USD for bankwires, for big players - not enough volume anywhere)
IF you can afford to hold you should hold and buy though, because when all of the above problems are solved the true potential will unfold itself. BUT this only works IF you can afford to loose everything you invested so far (because it very likely could also go down the drain completly) AND you earn enough fiat till BTC will be more or less stable AND widely accepted.
That's the problem ! (These conditions do not apply to most useres atm).
Indeed. Although the 2nd half is a little creepy sounding to me.
So the markets tank and bitcoin tanks even more! So much for it being a safe haven from fiat money......
I would argue even if Bitcoin fell to $1 per BTC it would still be a safe haven from the doom that is the dollar.
please watch
http://www.youtube.com/watch?v=_dmPchuXIXQ
So the markets tank and bitcoin tanks even more! So much for it being a safe haven from fiat money......
I would argue even if Bitcoin fell to $1 per BTC it would still be a safe haven from the doom that is the dollar.
So the markets tank and bitcoin tanks even more! So much for it being a safe haven from fiat money......
quickly get out while you still can!
So the markets tank and bitcoin tanks even more! So much for it being a safe haven from fiat money......
the only bubble was when it went from 16 to 30, that was the bubble.
However, due to either vengeance or pure greed someone has a strangehold over mt gox.
This strangehold cascades out into the other exchanges simply because of everyone else arbitrating.
What we are witnessing is simply the end, unless the method and manner of which makes this possible is outlawed, and that won't happen. So, thanks for the fish! xD
However, due to either vengeance or pure greed someone has a strangehold over mt gox.
This strangehold cascades out into the other exchanges simply because of everyone else arbitrating.
What we are witnessing is simply the end, unless the method and manner of which makes this possible is outlawed, and that won't happen. So, thanks for the fish! xD
omg he said it this is the end people! SELL SELL SELL
hahah, I know, but what is really dangerous right this moment is the amount of coverage bitcoin is getting in the press from somewhat reputable sources. can't expect the person or person(s) doing it are ever going to stop.
bad thing is, anyone with enough money can use the method.
the core of the bitcoin community will not be affect by media.....its like star trek! at first it tanked and then the die hard fans brought it back to life. i foresee something similar with bitcion. what they did for star trek with special effects we will do for bitcoin with high end security.
hehehe
I hope this is TNG!
at least the Continuum took away Q's powers for a little while. xD
we are bitcoin
your technological and biological products will be adapted to be exchanged for us
resistance is futile
FTFY
but didn't Jane bomb their wormholes in Voyager and started a rebellion using their digital astral plane?
that was the borg.
we are bitcoin
prepare to be bought out.
resistance is futile
the only bubble was when it went from 16 to 30, that was the bubble.
However, due to either vengeance or pure greed someone has a strangehold over mt gox.
This strangehold cascades out into the other exchanges simply because of everyone else arbitrating.
What we are witnessing is simply the end, unless the method and manner of which makes this possible is outlawed, and that won't happen. So, thanks for the fish! xD
However, due to either vengeance or pure greed someone has a strangehold over mt gox.
This strangehold cascades out into the other exchanges simply because of everyone else arbitrating.
What we are witnessing is simply the end, unless the method and manner of which makes this possible is outlawed, and that won't happen. So, thanks for the fish! xD
omg he said it this is the end people! SELL SELL SELL
hahah, I know, but what is really dangerous right this moment is the amount of coverage bitcoin is getting in the press from somewhat reputable sources. can't expect the person or person(s) doing it are ever going to stop.
bad thing is, anyone with enough money can use the method.
the core of the bitcoin community will not be affect by media.....its like star trek! at first it tanked and then the die hard fans brought it back to life. i foresee something similar with bitcion. what they did for star trek with special effects we will do for bitcoin with high end security.
hehehe
I hope this is TNG!
at least the Continuum took away Q's powers for a little while. xD
we are bitcoin
your technological and biological products will be adapted to be exchanged for us
resistance is futile
FTFY
but didn't Jane bomb their wormholes in Voyager and started a rebellion using their digital astral plane?
the only bubble was when it went from 16 to 30, that was the bubble.
However, due to either vengeance or pure greed someone has a strangehold over mt gox.
This strangehold cascades out into the other exchanges simply because of everyone else arbitrating.
What we are witnessing is simply the end, unless the method and manner of which makes this possible is outlawed, and that won't happen. So, thanks for the fish! xD
However, due to either vengeance or pure greed someone has a strangehold over mt gox.
This strangehold cascades out into the other exchanges simply because of everyone else arbitrating.
What we are witnessing is simply the end, unless the method and manner of which makes this possible is outlawed, and that won't happen. So, thanks for the fish! xD
omg he said it this is the end people! SELL SELL SELL
hahah, I know, but what is really dangerous right this moment is the amount of coverage bitcoin is getting in the press from somewhat reputable sources. can't expect the person or person(s) doing it are ever going to stop.
bad thing is, anyone with enough money can use the method.
the core of the bitcoin community will not be affect by media.....its like star trek! at first it tanked and then the die hard fans brought it back to life. i foresee something similar with bitcion. what they did for star trek with special effects we will do for bitcoin with high end security.
hehehe
I hope this is TNG!
at least the Continuum took away Q's powers for a little while. xD
we are bitcoin
your technological and biological products will be adapted to be exchanged for us
resistance is futile
FTFY
I think everyone is just decided to start buying Bismuth Crystals instead.
True libertarian dream come true, buy bitsmuth crystal, take picture of Bismuth crystal, sell digital copies of picture, profit!
True libertarian dream come true, buy bitsmuth crystal, take picture of Bismuth crystal, sell digital copies of picture, profit!
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