ticOriginally Posted by Zippyjuan
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FLIP THOSE FLAGS, THE NATION IS IN DISTRESS!
why I should worship the state (who apparently is the only party that can possess guns without question).
The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide
Baptiste said.
At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?
2
da
m00n
FLIP THOSE FLAGS, THE NATION IS IN DISTRESS!
why I should worship the state (who apparently is the only party that can possess guns without question).
The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide
Baptiste said.
At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?
One estimate was that it would take one quarter of all the money in the world invested in bitcoin to make one worth $1 million.
Does that account for all the bitcoins that are lost in the ether?
"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."
The answer is no, it doesn't account for all the bitcoins lost in the ether. It assumes all bitcoins are still available to people who may have lost them or past on.
But since we don't know how many bitcoins are missing, let's do the most conservative estimate possible and pretend that none of them are missing.
There is still a much bigger elephant in the room that your study didn't consider.
The $80 trillion worth of global currencies in circulation which is what the estimate you cited used (I did the math and figured out that is the figure they used), let's add to that people's wealth/savings. Some estimate that to be worth $250 trillion.
If the world converted 5% of their savings to bitcoin, and bitcoin was 10% of global currency, bitcoin would be worth over $1.2 million - conservatively. After accounting for lost bitcoins, it could be worth around $2 million, or possibly more.
Last edited by dannno; 06-23-2019 at 02:10 PM.
"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."
The calculation I saw looked at the market capitalization of bitcoin and the price at that amount invested. Total market cap would be $21 trillion while money supply is $80 trillion (can't find it right now). That would be one quarter of all money.
https://medium.com/altcoin-magazine/...in-36c3cf6aa6c
The more people hype ridiculous potential value for things, the better it is to stay away from them- they are probably in a bubble.A $20 Trillion market cap against a Bitcoin supply of 18m coins gives a price of over $1m per Bitcoin.
Last edited by Zippyjuan; 06-23-2019 at 03:33 PM.
https://finance.zacks.com/bond-marke...size-5863.html... The stock market has just over $30 trillion in total market capitalization, meaning the value of all outstanding shares, while the total amount of debt owed through bonds is more than $40 trillion. ...
https://www.investopedia.com/ask/ans...ves-market.asp... According to the most recent data from the Bank for International Settlements (BIS), the total notional amounts outstanding for contracts in the derivatives market is an estimated $542.4 trillion. But the gross market value of all contracts to be significantly less: approximately $12.7 trillion. ...
Spread the word: Gold as Unpegged Legal Tender (GAULT) | PMBug's Vault (Articles)
Thank you for pointing out to everybody here that you don't actually argue against the content of people's posts.
"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."
$12,795
"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."
hold?
yes
2 da
M00N!
FLIP THOSE FLAGS, THE NATION IS IN DISTRESS!
why I should worship the state (who apparently is the only party that can possess guns without question).
The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide
Baptiste said.
At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?
Just like I asked during the last run-up, is anyone trying to cash out at these prices? Never got a single affirmative reply last time. I'm genuinely curious how liquid these exchanges really are...or are you hodling something that has a high dollar value but without the liquidity to actually redeem it?
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
I bought some gold, it worked fine.
"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."
A very wise choice. Doesn't answer my question about cashing out, though.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
The volatility suggests "not very"
Wouldn't it be the opposite?
"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."
Less liquid markets tend to be more volatile.
Compare penny stocks and FOREX, for two extremes.
I'm just trying to reconcile how a market with high volatility, which remains solvent, is lacking liquidity compared to a market that remains relatively constant, and thus does not require the same amount of liquidity to stay solvent as long as the market remains non-volatile.
"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."
I don't know what you mean when you talk about a market being solvent. Solvency applies to firms, not markets.
And I'm not sure that you know what I mean when I say liquidity.
More liquidity doesn't have anything to do with whether the market is rising or falling.
A more liquid markets just means one in which there are more buyers/sellers.
E.G. The NYC car market is more liquid than the Podunk WV car market.
Or the market for oil is more liquid than the market for antique spittoons.
The question that was originally asked was whether you could go to coinbase.com and sell your bitcoin and cash it out when the price is high.
So the question is whether there is enough liquidity for places like coinbase to pay out the cash.
Well, people are buying bitcoin at high prices, with cash, so the cash would then be available to those who cash out.
Typically when bitcoin prices go high, the volume is high. There haven't been any issues with solvency at coinbase and it has made it through a lot of bitcoin volatility.
So I'm not sure why there would be a huge concern.
"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."
Is coinbase doing the buying/selling themselves, or are they an intermediary between their customers buying/selling to each other?
As far as I know, both.
They have a separate exchange that is just for trading cyrpto called GDAX, and then they have their buying/selling main platform where you can buy crypto with your bank account or sell bitcoin and have it cashed out to your bank account.
Last edited by dannno; 06-26-2019 at 05:59 PM.
"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."
As far as coinbase's own financial situation, I have no idea.
As for trading on their exchange (or any other), which is what I was talking about, the cash isn't sitting in a vault somewhere.
If I sold you some BTC last month on an exchange, that doesn't mean I'm going to be there to buy tomorrow when you try to sell.
There was this article from earlier this year (March) : https://www.forbes.com/sites/cbovair.../#70329eac6717
More at link.95% Of Reported Bitcoin Trading Volume Is Fake, Says Bitwise
While many use CoinMarketCap as a go-to resource for cryptocurrency market data, roughly 95% of bitcoin trading volume reported by this website is fake, according to a Bitwise Asset Management report.
CoinMarketCap reports approximately $6 billion per day in bitcoin trading volume, but the actual figure is $273 million, or roughly 4.5% of the reported amount, according to Bitwise.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
When conducting its analysis, Bitwise culled data from 81 exchanges, which it selected based on reported bitcoin trading volume. Exchanges that reported less than $1 million worth of volume per day were excluded.
Bitwise, which recently proposed a bitcoin exchange-traded fund (ETF), submitted this report to the U.S. Securities and Exchange Commission (SEC) as part of its application process.
"IF true, it's clearly not a positive for the industry," emphasized Tim Enneking, managing director of Digital Capital Management.
However, "most of the largest exchanges appear to have a much lower level of 'fake' volume, so the 95% number is hardly evenly spread across exchanges," he noted.
Enneking outlined several reasons why exchanges would inflate their volumes:
Other than simply wanting to make volume appear larger than it is for commercial reasons (the greater the volume, the easier it is to attract even more traders), three other factors may play into the motivations behind exaggerating volume: (1) the generalized decline in volume over the last 12 months or so, which makes appearing to be larger both more important and more difficult, (2) the growing volume on OTC platforms, which both exacerbates and accelerates the first problem, and (3) the seemingly endless proliferation of new exchanges, meaning that more players are fighting for larger pieces of a shrinking pie.
I meant liquidity in the sense of easily receiving cash back out of an exchange/market after selling. Yes, having buyers and sellers is a measure of a liquid market but that assumes the cash is there in the first place to complete the transactions and then cash out. I'm wondering if these exchanges aren't mostly just a way of draining fiat out of the system, since it seems few actually cash back out into fiat.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Bubble popping already? Or just a profit taking pull back? Hit near $14,000 then tumbled to about $11,000. https://finance.yahoo.com/news/bitco...210332829.html
liquidity depends on the amount being sold. Can China sell all its US bonds instantly? No. Are US bonds liquid? Yes.
At my level, i have cashed out in fiat life changing amounts. Enough for the taxman to come knocking on my door.
I still keep a majority of my networth in Bitcoin. Best saving account ever.You have to hodl, buy the dip and sell small percentages at blown out tops.
So when looking at my currently very humble networth.. Some rich people can afford to splash on easily until 100k usd a bitcoin.
A few people selling their bitcoins at these high valuations and China cashing out their entire bond holdings at once are hugely different scenarios. In one instance I'm talking about a few hundred thousand maybe and in the other trillion+. I'm asking the question of anyone that, say, bought 50 bitcoin at $300 and has since cashed out 25 at once for $250k. That's the measure of a ponzi scheme. But it's also worth noting that the Chinese bond scenario is a test of a ponzi also. Don't have the cash (digital or otherwise) to fulfill a large redemption? You're running a ponzi.liquidity depends on the amount being sold. Can China sell all its US bonds instantly? No. Are US bonds liquid? Yes.
At my level, i have cashed out in fiat life changing amounts. Enough for the taxman to come knocking on my door.
I still keep a majority of my networth in Bitcoin. Best saving account ever.
So when looking at my currently very humble networth.. Some rich people can afford to splash on easily until 100k usd a bitcoin.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
I believe I answered you last time, I cashed some out, and depostied into my bank account. This isn't hard to do.
I ask because every time there's a pump and dump in bitcoin, there's suddenly bunches of posts on forums practically begging people to put their money into it. It comes off like there's not actually enough cash in the exchanges for the pumpers to cash out of the pump unless new marks put it in.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
we ask because that's how we got in the first place. That's how we saw the light.
And we want other people to join the fun in breaking the power of central banks.
Did I complain about people buying at 10 USD when i first bought at 1000 usd?
Smart money knows when to fold.
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