this is really driving the price of ALTs down.
BTC as a percentage of crypto currencies had dropped to 59%, is now climbing back up to 62%
http://coinmarketcap.com/charts/#btc-percentage
let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!! Spartacus, War of the Damned
BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq
Originally Posted by anaconda
This is just getting ridiculous (of course it will go higher). I was just thinking about buy at the dip at 1316 and decided to wait for it to fall more and now its near $1500.
Anybody buying now?
THE SQUAD of RPF
1. enhanced_deficit - Paid Troll / John Bolton book promoter
2. Devil21 - LARPing Wizard, fake magical script reader
3. Firestarter - Tax Troll; anti-tax = "criminal behavior"
4. TheCount - Comet Pizza Pedo Denier <-- sick
@Ehanced_Deficit's real agenda on RPF =troll:
Who spends this much time copy/pasting the same recycled links, photos/talking points.
7 yrs/25k posts later RPF'ers still respond to this troll
What volume as a percentage of total market cap is traded every day?
What percent of transactions are for actual goods and services?
What is the inflation rate of BTC?
I still maintain, the only really novel thing about crypto is what makes it crypto, the blockchain. Bitcoins "value" while not entirely unsustainable, is not based on natural bitcoin economics. It is currently a speculative bubble by all definitions of the word.
When a trumpet sounds in a city, do not the people tremble?
When disaster comes to a city, has not the Lord caused it? Amos 3:6
one could say the same for gold as well.What volume as a percentage of total market cap is traded every day?
What percent of transactions are for actual goods and services?
What is the inflation rate of BTC?
Gold has an inflation rate? I didn't realize we made advances in alchemy.
All currencies are different. Ignoring that and simply talking it up might seem like a good strategy if all you care about is the speculative investment attribute of Bitcoin but it will create mistrust in regular people who might be candidates for just using it as money.
When a trumpet sounds in a city, do not the people tremble?
When disaster comes to a city, has not the Lord caused it? Amos 3:6
Agree, it is speculative, the problem is the fiat currencies that still dominate the world. Until nothing is pegged to a manipulated currency, there will be speculation. Bad money will always front run more valuable money. (Gresham's law)
Last edited by kfarnan; 05-03-2017 at 08:11 AM.
They dominate because very, very few people understand money power. Perhaps all that's needed is regular people understanding basic concepts of banking and money and an honest system will present itself.
Libertarian concepts are much easier to grasp than monetary concepts.
I point out the speculative nature of Bitcoin only to present the follow-up observation that those are just exchange rates. Bitcoin holders don't have to trade on exchanges. They could peg the value to gold if they wanted, or anything else. So if Bitcoin is an alternative to fiat, what prohibits us from banking with it?
When a trumpet sounds in a city, do not the people tremble?
When disaster comes to a city, has not the Lord caused it? Amos 3:6
It takes fiat to mine btc. Most payments are fiat. The issue is everything is pegged to fiat dollars. So you're back to trading dollars. One could be there own bank, but not with Wells , etc. That is the point, not depending on banks.
Speculation is everywhere. Stocks, job markets, security. It's not a new thing.
Monetary concepts are not hard to grasp, they make it seem that way to enslave.
Last edited by kfarnan; 05-03-2017 at 10:26 AM.
Monetary concepts aren't hard to grasp perhaps for some people. But they are certainly easily confused and conflated for most people.
For instance, you're saying everything is "pegged" to dollars. That's typically a term reserved for governments who have volatile currencies who intentionally "peg" their currency's price to a more stable national currency like the dollar.
But bitcoin isn't "pegged" to dollars. In fact, if Bitcoin was pegged to dollars, it would be a heck of a lot more viable as money than it is now.
What you really mean, I assume, is that everyone is "converting" to dollars. But why is that the problem? People can use whatever currency they want can't they? If we audit and end the fed, then what? There would still, I imagine, be some kind of "dollar". There would still be banking, and likely there would still be bitcoin.
I'm completely against this half-baked argument of "fiat dollars are dominant, must destroy before anything else will work" because it's false. It's not an educated position and it's certainly not a strategy. Remove the fed from the problem, imagine an empty slate. What would we build? What would it look like? Then just build it. What are we waiting for?
Bitcoin I see as a good pivot towards sound money, not because it's suitable as money in my personal opinion, but by understanding its qualities and its economics, it gives us a thing to compare against.
We have the Fed. We have Bitcoin. The sound money people don't seem to agree with either of these. One is centrally controlled, one is decentralized I think about as much as we can expect anything to ever be. So is the solution not somewhere along this spectrum?
When a trumpet sounds in a city, do not the people tremble?
When disaster comes to a city, has not the Lord caused it? Amos 3:6
$1517.66 right now...
https://www.coinbase.com/charts
It's mined. It costs money to mine gold. It costs money to mine bitcoin.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
Good point. It is analogous on that count as well. Thanks for contributing to the discussion.
But technically you aren't mining bitcoin, you're mining blocks, and bitcoin is the reward. Subtle but important difference.
So "gold mining" isn't really inflation. Whereas the initial distribution of Bitcoins via block mining rewards is controlled inflation.
But I'll let you be right this time as a reward for posting.
Last edited by wizardwatson; 05-03-2017 at 03:00 PM.
When a trumpet sounds in a city, do not the people tremble?
When disaster comes to a city, has not the Lord caused it? Amos 3:6
Speculative bubble is a yes and no.
Who is buying at 1566???
I think there will definitely be a correction in the short-term but the biggest question is how high will it go before correction sets in? Once the scaling issue is resolved, BTC will head to 2000 and above.
THE SQUAD of RPF
1. enhanced_deficit - Paid Troll / John Bolton book promoter
2. Devil21 - LARPing Wizard, fake magical script reader
3. Firestarter - Tax Troll; anti-tax = "criminal behavior"
4. TheCount - Comet Pizza Pedo Denier <-- sick
@Ehanced_Deficit's real agenda on RPF =troll:
Who spends this much time copy/pasting the same recycled links, photos/talking points.
7 yrs/25k posts later RPF'ers still respond to this troll
Can't answer what percent of transaction are for actual goods and services, but I've read articles that quotes bitpay as saying their year over year growth is high and online gambling sites generate a good amount of transactions.. Sorry don't remember the details, but I'm certain the bulk of bitcoin transactions are not direct commercial. I've personally made like 10 "real" purchases with bitcoin. I donated some bitcoin 2 times.What volume as a percentage of total market cap is traded every day?
What percent of transactions are for actual goods and services?
What is the inflation rate of BTC?
I still maintain, the only really novel thing about crypto is what makes it crypto, the blockchain. Bitcoins "value" while not entirely unsustainable, is not based on natural bitcoin economics. It is currently a speculative bubble by all definitions of the word.
http://www.bitcoinblockhalf.com/
Bitcoin inflation rate per annum: 3.94%
Bitcoin inflation rate per annum at next block halving event: 1.73%
$1615 right now.
https://www.coinbase.com/charts
$1557.12 (down $58 in the last 6 hours).
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
And I thought I didn't necessarily like fully electronic techno gangster hip hop!
I think maybe BTC is on a careening wobble around a significantly upward trend line.
Last edited by anaconda; 05-04-2017 at 05:53 PM.
I wish I had bought Litecoin when it was two bucks not long ago. Currently $24.16
$1624.78 right now. Up $78 in the last 6.5 hours. Fair to say somewhat volatile, although I suppose these numbers become a smaller percentage as the price grows over time.
https://www.coinbase.com/charts
Last edited by anaconda; 05-04-2017 at 11:57 PM.
At this rate we'll be hitting 2k by June
let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!! Spartacus, War of the Damned
BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq
Yeah. I think $2K may really be just sort of a foundational beginning platform. And...just wait for a mere flutter of dollar instability to see where BTC really may go...
Got my G/F in at $555 after which BTC promptly went down to around $200. Fortunately she didn't pay any attention or care. She's a tad intrigued now.
Last edited by anaconda; 05-05-2017 at 01:33 AM.
The Second Wave of Bitcoin Price Growth May Just Be Beginning
Something interesting has been happening the last couple of weeks.
I'm pretty well connected to a lot of veterans in crypto, and independently, we've all been fielding inquiries from smart money investors, the non-technical types who are now ready for a hedge instrument against global uncertainty.
Our basic conclusion is that what we're seeing right now is a whole lot of new money coming into the cryptocurrency markets.
Some have been perplexed with this unprecedented rise, and it's easy to see why. The total market cap of the space is now $46.5bn, a figure that's up roughly 50% over the last few weeks.
More...http://www.coindesk.com/second-wave-...ust-beginning/
OMG, I can now almost $#@! on everyone I knew in High School. Just need that old money to rush in!!!!!!!!!
How you been doin bob? Oh workin at the auto body place, that's cool.
Oh me... I'm a multi-millionaire that bangs models on the weekend and parties with leonardo di $#@!ing caprio!!!!!!!! No big deal, I try to keep myself grounded though by hanging with all classes of people. It's good to stay connected with common people. Nice seeing you again. I gotta run, big party at the Johnny D's place.
I left a browser open to coinmarketcap for a day. Yesterday total cap for all coins listed was 44.7 billion. Today it's 46.3 billion. Wow, this is crazier than usual.
Last edited by kpitcher; 05-07-2017 at 02:02 AM.
let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!! Spartacus, War of the Damned
BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq
Well, I have 1 bitcoin. What's it worth? It's a real coin, though. I thought it was supposed to be virtual.
Hopefully, no one you know from high school is on here. They might see it coming.
When a trumpet sounds in a city, do not the people tremble?
When disaster comes to a city, has not the Lord caused it? Amos 3:6
Do you have one of the casacius coins?
https://www.casascius.com/
If so it's just a physical object with the public and secure private key on it. Like a paper wallet you can print to secure your private key.
There should be a public address on the coin. You can visit any explorer like http://blockchain.info/ and enter your public address and it will show you the amount of bitcoin, from there you can know how much USD it's worth. Although the original casascius coins actually are worth a bit more for collectors.
let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!! Spartacus, War of the Damned
BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq
YES. Ha. Thank You. I'll check it out.
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