cbeast

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Let's talk governance, lipstick, and pigs.







DonatorLegendaryActivity: 1736Merit: 1002Let's talk governance, lipstick, and pigs. Re: Gold collapsing. Bitcoin UP. February 13, 2015, 01:36:36 AM #21221 Bitcoin mining vastly outpaces gold mining while price continues to grow (on average). Gold collapsing. Bitcoin up. Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.

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Sr. MemberActivity: 406Merit: 250 Re: Gold collapsing. Bitcoin UP. February 13, 2015, 01:51:02 AM #21222 Quote from: mortified on February 13, 2015, 01:36:36 AM Bitcoin mining vastly outpaces gold mining while price continues to grow (on average). Gold collapsing. Bitcoin up.



Time frame of reference. Bitcoin is up in the last 5 years, but gold has definitely outperformed bitcoin in the past year.



As far as stability, neither are. They're both subject to 5%+ price swings daily, which is far from stable. Just because bitcoin has temporarily found a price range in the low 2xx's doesn't mean jack. It has been following the same pattern of holding a price for a month or so then falling hard all the way from $700 and below. Until it shows a strong and maintained uptrend, the free fall remains. Time frame of reference. Bitcoin is up in the last 5 years, but gold has definitely outperformed bitcoin in the past year.As far as stability, neither are. They're both subject to 5%+ price swings daily, which is far from stable. Just because bitcoin has temporarily found a price range in the low 2xx's doesn't mean jack. It has been following the same pattern of holding a price for a month or so then falling hard all the way from $700 and below. Until it shows a strong and maintained uptrend, the free fall remains.

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DonatorLegendaryActivity: 1736Merit: 1002Let's talk governance, lipstick, and pigs. Re: Gold collapsing. Bitcoin UP. February 13, 2015, 02:18:10 AM #21223 Quote from: flipstyle on February 13, 2015, 01:51:02 AM Quote from: mortified on February 13, 2015, 01:36:36 AM Bitcoin mining vastly outpaces gold mining while price continues to grow (on average). Gold collapsing. Bitcoin up.



Time frame of reference. Bitcoin is up in the last 5 years, but gold has definitely outperformed bitcoin in the past year.



As far as stability, neither are. They're both subject to 5%+ price swings daily, which is far from stable. Just because bitcoin has temporarily found a price range in the low 2xx's doesn't mean jack. It has been following the same pattern of holding a price for a month or so then falling hard all the way from $700 and below. Until it shows a strong and maintained uptrend, the free fall remains.

Time frame of reference. Bitcoin is up in the last 5 years, but gold has definitely outperformed bitcoin in the past year.As far as stability, neither are. They're both subject to 5%+ price swings daily, which is far from stable. Just because bitcoin has temporarily found a price range in the low 2xx's doesn't mean jack. It has been following the same pattern of holding a price for a month or so then falling hard all the way from $700 and below. Until it shows a strong and maintained uptrend, the free fall remains. The 30 day chart shows a +0.04% change. That is more stable than fiat. Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.

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LegendaryActivity: 1153Merit: 1000 Re: Gold collapsing. Bitcoin UP. February 13, 2015, 05:16:19 AM

Last edit: February 13, 2015, 05:49:55 AM by rocks #21226 Quote from: marcus_of_augustus on February 13, 2015, 02:41:56 AM



Oh, it is completely logical. All one has to do is follow the money to understand the logic.



When they "expand the money supply to grow with the economy" what they are in actuality doing is taking wealth from the middle class (savers of dollars) and giving that wealth to political insiders, be it politicians, unions, bankers, favored groups, politically connected corporations, and don't forget a few table scraps for various voting blocks to make the theft "legitimate".

Oh, it is completely logical. All one has to do is follow the money to understand the logic.When they "expand the money supply to grow with the economy" what they are in actuality doing is taking wealth from the middle class (savers of dollars) and giving that wealth to political insiders, be it politicians, unions, bankers, favored groups, politically connected corporations, and don't forget a few table scraps for various voting blocks to make the theft "legitimate".

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Sr. MemberActivity: 406Merit: 250 Re: Gold collapsing. Bitcoin UP. February 13, 2015, 07:24:42 AM #21227 Quote from: mortified on February 13, 2015, 02:18:10 AM Quote from: flipstyle on February 13, 2015, 01:51:02 AM Quote from: mortified on February 13, 2015, 01:36:36 AM Bitcoin mining vastly outpaces gold mining while price continues to grow (on average). Gold collapsing. Bitcoin up.



Time frame of reference. Bitcoin is up in the last 5 years, but gold has definitely outperformed bitcoin in the past year.



As far as stability, neither are. They're both subject to 5%+ price swings daily, which is far from stable. Just because bitcoin has temporarily found a price range in the low 2xx's doesn't mean jack. It has been following the same pattern of holding a price for a month or so then falling hard all the way from $700 and below. Until it shows a strong and maintained uptrend, the free fall remains.

Time frame of reference. Bitcoin is up in the last 5 years, but gold has definitely outperformed bitcoin in the past year.As far as stability, neither are. They're both subject to 5%+ price swings daily, which is far from stable. Just because bitcoin has temporarily found a price range in the low 2xx's doesn't mean jack. It has been following the same pattern of holding a price for a month or so then falling hard all the way from $700 and below. Until it shows a strong and maintained uptrend, the free fall remains.

The 30 day chart shows a +0.04% change. That is more stable than fiat.

I'm talking daily market changes. 30 day changes in such volatile markets are more coincidental than indicative of solidarity. Don't fool yourself.



These markets could and have crashed in a single day at whims notice. I'm talking daily market changes. 30 day changes in such volatile markets are more coincidental than indicative of solidarity. Don't fool yourself.These markets could and have crashed in a single day at whims notice.

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Sr. MemberActivity: 378Merit: 250 Re: Gold collapsing. Bitcoin UP. February 13, 2015, 12:21:53 PM #21235 Quote from: rpietila on February 13, 2015, 07:59:57 AM ...

Everybody who says dollar is more "stable" than gold is a sad, misinformed person. Dollar is stable strictly when measured in dollars...

No, the dollar is stable in terms of its buying power.

With USD, I can be fairly certain my food basket will to cost me as much as it did ...oh, let's say... a day ago.

With Bitcoin, the price is calculated on the spot, and is good for exactly 10 minutes.

Ten minutes.

Ten.

Price stays constant for ten (TEN) minutes.

Now if USD prices of goods changed every ten minutes, while BTC prices remained constant, you'd have a point. In the meantime, back you go.





Get well soon! No, the dollar is stable in terms of its buying power.With USD, I can be fairly certain my food basket will to cost me as much as it did ...oh, let's say... a day ago.With Bitcoin, the price is calculated on the spot, and is good for exactly 10 minutes.Ten minutes.Ten.Price stays constant for ten (TEN) minutes.Now if USD prices of goods changed every ten minutes, while BTC prices remained constant, you'd have a point. In the meantime, back you go.Get well soon!

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LegendaryActivity: 2044Merit: 1004 Re: Gold collapsing. Bitcoin UP. February 13, 2015, 12:43:46 PM #21237 U cant compare usd and bitcoin in terms of volatility not fair comparison.. however lets try:



Usd volume daily $4 trillion

btc volume daily $4 million



Usd basket volatility = 0.1% daily

btc volatility = 10% daily



Btc adjusted volatility if volume was $4 trilliion = 0.000001%



Now which one looks more stable???

NotLambchop



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Sr. MemberActivity: 378Merit: 250 Re: Gold collapsing. Bitcoin UP. February 13, 2015, 12:59:05 PM #21238 Quote from: sidhujag on February 13, 2015, 12:43:46 PM U cant compare usd and bitcoin in terms of volatility not fair comparison.. however lets try:



Usd volume daily $4 trillion

btc volume daily $4 million



Usd basket volatility = 0.1% daily

btc volatility = 10% daily



Comparing USD volatility to BTC? You're thinking of that batshit crazy rpietila. I agree, laughable.

I'm pretty much with you on BTC being a hundred times as volatile as USD, but caveat: The prices in my grocery store aren't adjusted every ten minutes, not even by .1%



Quote Btc adjusted volatility if volume was $4 trilliion = 0.000001%



Now which one looks more stable???



If BTC had volume of $4trillion, it would be USD, and thus stable. It's not, so it ain't.



As far as your "adjusted volatility," you've clearly been to universities, but I'm afraid it don't work like you think it does Comparing USD volatility to BTC? You're thinking ofrpietila. I agree, laughable.I'm pretty much with you on BTC being a hundred times as volatile as USD, but caveat: The prices in my grocery store aren't adjusted every ten minutes, not even by .1%If BTC had volume of $4trillion, it would be USD, and thus stable. It's not, so it ain't.As far as your "adjusted volatility," you've clearly been to universities, but I'm afraid it don't work like you think it does