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-   -   Bitcoin - Part 3 (http://www.internationalskeptics.com/forums/showthread.php?t=336407)

psionl0 15th May 2019 05:46 AM

Quote:

Originally Posted by Belz... (Post 12696264)
Oh, sure. But I'm not wrong about it.

Of course you are. You are saying the equivalent of "you are a poopy head".

Quote:

Originally Posted by Belz... (Post 12696264)
Aw, did I hit a nerve?

How should I classify this response? Non-sequitur? Projection? Another emotional and irrational attack?

Belz... 15th May 2019 05:54 AM

Quote:

Originally Posted by psionl0 (Post 12696312)
Of course you are. You are saying the equivalent of "you are a poopy head".

If that's what you think, then you're just not thinking clearly. I'm not saying that you're an idiot, or dishonest. I'm saying that you are reflexively responding to any negative comment about Bitcoin, and then using the "BS" label to justify it even when the comments are completely reasonable.

Face it, you have a bias toward Bitcoin.

Quote:

How should I classify this response? Non-sequitur? Projection? Another emotional and irrational attack?
None of that makes any sense, so it's a strange list. It's clearly a jab, but once more you demonstrate that it's entirely accurate.

psionl0 15th May 2019 05:59 AM

Quote:

Originally Posted by Belz... (Post 12696325)
Face it, you have a bias toward Bitcoin.

Repeating a lie doesn't make it true.

Regardless, I am done with this petty squabble. All of these rule 12 violations are probably going to end up in AAH anyhow.

Belz... 15th May 2019 06:02 AM

Quote:

Originally Posted by psionl0 (Post 12696332)
Repeating a lie doesn't make it true.

It's not a lie if it's true, and you've demonstrated it time and time again.

Quote:

Regardless, I am done with this petty squabble.
Which you instigated. I was talking about BTC and it annoyed you so you attacked my comment. And now that it's not going your way you whine about it being a rules violation!

HeadOverH33ls 19th May 2019 01:42 AM

I'm still investing in Bitcoin...

In my opinion this cryptocurrency is not reliable, but it will grow...

I even wrote my bachelor thesis about that.

psionl0 19th May 2019 04:10 AM

Quote:

Originally Posted by HeadOverH33ls (Post 12700039)
I even wrote my bachelor thesis about that.

You should post a link to your thesis once you get your linking rights.

If you are impatient then you can break it up like http : // myserver / mythesis.etc and somebody will construct it for you.

HeadOverH33ls 20th May 2019 08:46 AM

Quote:

Originally Posted by psionl0 (Post 12700084)
You should post a link to your thesis once you get your linking rights.

If you are impatient then you can break it up like http : // myserver / mythesis.etc and somebody will construct it for you.

It's in German.

psionl0 20th May 2019 09:23 AM

Quote:

Originally Posted by HeadOverH33ls (Post 12701096)
It's in German.

Bummer.

The_Animus 28th May 2019 08:37 PM

Quote:

Originally Posted by The_Animus (Post 12694527)
I wouldn't be surprised if the current rise is at least partly related to the escalation of tariffs in the US/China trade war and the resulting dip in the stock market.

8660 now. If a deal is reached with China I think it will drop hard. Otherwise the longer and uglier this trade war goes, the more it will keep creeping higher.

psionl0 29th May 2019 04:32 AM

Quote:

Originally Posted by The_Animus (Post 12709539)
8660 now. If a deal is reached with China I think it will drop hard. Otherwise the longer and uglier this trade war goes, the more it will keep creeping higher.

Bitcoin does seem to like bad news but you can't count on it to follow the news cycle.

The most recent price rises seem to have originated from a large buying spike in early April. Whether this was due to a whale pumping it or a larger number of speculators reading the economic tea leaves is hard to tell. Similarly, we don't know if this heralds a return to unbelievably high prices or if it will crash and burn long before then.

I suspect that FOMO is more likely to be driving the current trend than the trade war.

Samson 30th May 2019 03:45 PM

Quote:

Originally Posted by psionl0 (Post 12709760)
Bitcoin does seem to like bad news but you can't count on it to follow the news cycle.

The most recent price rises seem to have originated from a large buying spike in early April. Whether this was due to a whale pumping it or a larger number of speculators reading the economic tea leaves is hard to tell. Similarly, we don't know if this heralds a return to unbelievably high prices or if it will crash and burn long before then.

I suspect that FOMO is more likely to be driving the current trend than the trade war.

Looks about right and this article looks like common sense, and could be the sagest I have read.

https://seekingalpha.com/article/426...ll-limit-rally

concludes:

"I'd personally prefer $8,850 cash right over a bitcoin, and since most people would likely make the same choice if given the option, this leads me to believe that bitcoin is overvalued. I see choppy trading with ultimately lower prices."

fromdownunder 30th May 2019 08:17 PM

Quote:

Originally Posted by Samson (Post 12711836)
"I'd personally prefer $8,850 cash right over a bitcoin, and since most people would likely make the same choice if given the option, this leads me to believe that bitcoin is overvalued. I see choppy trading with ultimately lower prices."


Yesterday's news. It is now $8,294.50 after peaking at over $9,000 (on the same day). I have had yo-yo's with less maneuverability than this. It could go anywhere up or down. Only The Shadow knows.



Norm



.

psionl0 30th May 2019 11:17 PM

Quote:

Originally Posted by Samson (Post 12711836)
Looks about right and this article looks like common sense, and could be the sagest I have read.

Confirmation bias.

Samson 31st May 2019 12:29 AM

Quote:

Originally Posted by psionl0 (Post 12712259)
Confirmation bias.

Yes, but confirmation bias does not equal wrong.
I studied the argument and ticked the logic.
Limited supply of bitcoin does not equal limited supply of crypto currency for example.
I have said repeatedly myself on thread, this is not smart to point it out, it is an axiom.

psionl0 31st May 2019 01:49 AM

Quote:

Originally Posted by Samson (Post 12712295)
Yes, but confirmation bias does not equal wrong.
I studied the argument and ticked the logic.
Limited supply of bitcoin does not equal limited supply of crypto currency for example.
I have said repeatedly myself on thread, this is not smart to point it out, it is an axiom.

You expect us to pay attention to somebody who doesn't know the difference between a Rolls Royce and a Volkswagon?

Norm's prediction is 10 times more reliable than yours - and he didn't even make one.

Belz... 6th June 2019 06:27 AM

7700 and change, now.

Oof!

The Common Potato 6th June 2019 06:43 AM

Quote:

Originally Posted by Belz... (Post 12718239)
7700 and change, now.

Oof!

One might almost conclude that Bitcoin is a bit volatile.

psionl0 6th June 2019 08:54 AM

Quote:

Originally Posted by Belz... (Post 12718239)
7700 and change, now.

Oof! Meh.

ftfy.

By bitcoin standards, that is almost dead level.

Belz... 6th June 2019 08:56 AM

Quote:

Originally Posted by psionl0 (Post 12718389)
ftfy.

By bitcoin standards, that is almost dead level.

It's just a steep increase and decrease in a short time. Imagine if real currencies had this problem constantly.

psionl0 6th June 2019 08:57 AM

Quote:

Originally Posted by Belz... (Post 12718393)
It's just a steep minor increase and decrease in a short time.

ftfy.

Remember, this is bitcoin we are talking about.

Quote:

Originally Posted by Belz... (Post 12718393)
Imagine if real currencies had this problem constantly.

:eek:

Belz... 6th June 2019 08:58 AM

Quote:

Originally Posted by psionl0 (Post 12718396)
ftfy.

Kindly stop editing my posts. I say what I mean, not what you mean.

psionl0 6th June 2019 09:01 AM

Quote:

Originally Posted by Belz... (Post 12718397)
Kindly stop editing my posts. I say what I mean, not what you mean.

It's quicker than saying that there are errors in your post.

If you want to talk about steep increases/decreases then go back to 2017 or 2013.

Belz... 6th June 2019 09:06 AM

Quote:

Originally Posted by psionl0 (Post 12718398)
It's quicker than saying that there are errors in your post.

If you want to talk about steep increases/decreases then go back to 2017 or 2013.

Ah, so here's the error in yours: that there are steeper increases doesn't make this one not steep.

And, FYI, having a differing point of view doesn't make other peoples' wrong.

psionl0 6th June 2019 09:16 AM

Quote:

Originally Posted by Belz... (Post 12718401)
Ah, so here's the error in yours: that there are steeper increases doesn't make this one not steep.

And, FYI, having a differing point of view doesn't make other peoples' wrong.

Come off it. This is just a run of the mill price change for bitcoin and you know it. Why you would want to cherry pick one price change and disguise it as newsworthy is beyond me.

Belz... 6th June 2019 09:18 AM

Quote:

Originally Posted by psionl0 (Post 12718416)
Come off it.

Come off what? Pointing out that, once again, your favourite thing in the world is having hiccups?

Quote:

This is just a run of the mill price change for bitcoin and you know it.
That is not mutually exclusive with my comment.

Quote:

Why you would want to cherry pick one price change and disguise it as newsworthy is beyond me.
It'd be beyond me too, were that what I did. Fortunately I didn't. Perhaps you should refrain from adding your own interpretation on top of my clear, concise posts.

psionl0 6th June 2019 09:19 AM

Quote:

Originally Posted by Belz... (Post 12718423)
That is not mutually exclusive with my comment.

Oof! :rolleyes:

Belz... 6th June 2019 09:24 AM

Quote:

Originally Posted by psionl0 (Post 12718428)
Oof! :rolleyes:

Try this: Bitcoin often has steep climbs and declines.

See how that works? You can't even logic this topic properly. Mind you, if you didn't find yourself obligated to respond to every criticism or comment about BTC you wouldn't put yourself in such ridiculous predicaments. You say you only respond to erroneous claims about BTC, but your history shows otherwise.

psionl0 6th June 2019 09:42 AM

Quote:

Originally Posted by Belz... (Post 12718434)
Try this: Bitcoin often has steep climbs and declines.

Advice that you would do well to follow.

Belz... 6th June 2019 09:57 AM

Quote:

Originally Posted by psionl0 (Post 12718449)
Advice that you would do well to follow.

You didn't read the bit you quoted, did you?

Regular steep climbs and declines. They can be both steep AND regular. Do you see your error now, or do I need to use crayons to get your attention with bright colours?

Mycroft 8th June 2019 10:32 AM

Quote:

Originally Posted by psionl0 (Post 12718398)
It's quicker than saying that there are errors in your post.

A different point of view is not the same as an error. He portrays frequent steep changes in value as a negative. You dismiss it as "normal for Bitcoin".

Quote:

Originally Posted by psionl0 (Post 12718398)
If you want to talk about steep increases/decreases then go back to 2017 or 2013.

You also keep putting out this idea that if something were discussed before that we shouldn't raise the issue again. This is BS. The volativity of Bitcoin has been an ongoing issue, and it's just a viable a topic today as it was in years past.

psionl0 8th June 2019 11:16 AM

Quote:

Originally Posted by Mycroft (Post 12720500)
You also keep putting out this idea that if something were discussed before that we shouldn't raise the issue again.

Anybody would think that bitcoin's volatility is something that is seldom discussed. That is not the case with bitcoin where price changes are constantly being posted by everybody with an anti-bitcoin agenda.

At some point it stops being news and falls under the "water is wet" category.

Mycroft 14th June 2019 06:48 AM

Quote:

Originally Posted by psionl0 (Post 12720534)
Anybody would think that bitcoin's volatility is something that is seldom discussed. That is not the case with bitcoin where price changes are constantly being posted by everybody with an anti-bitcoin agenda.

At some point it stops being news and falls under the "water is wet" category.

Not everybody reading this has followed the discussion from the beginning. For some of them being told "water is wet" is informative. Even so, it's not your place to police what someone else considers to be a contribution.

Belz... 14th June 2019 07:10 AM

Quote:

Originally Posted by psionl0 (Post 12720534)
That is not the case with bitcoin where price changes are constantly being posted by everybody with an anti-bitcoin agenda.

Checking on the value of Bitcoin is anti-Bitcoin!

JoeMorgue 14th June 2019 07:13 AM

Bitcoins are quantum, you can't observe them without affecting their value.

Mycroft 14th June 2019 08:30 AM

Bitcoin mining putting out CO2 comparable to a medium sized city:

https://www.sciencedaily.com/release...0613104533.htm

Belz... 14th June 2019 08:45 AM

Quote:

Originally Posted by Mycroft (Post 12726304)
Bitcoin mining putting out CO2 comparable to a medium sized city:

https://www.sciencedaily.com/release...0613104533.htm

Well that's what happens when your technological model is getting computers to crunch numbers at capacity for no other reason than to create and maintain speculative currencies.

psionl0 14th June 2019 09:08 AM

Quote:

Originally Posted by Mycroft (Post 12726167)
Not everybody reading this has followed the discussion from the beginning. For some of them being told "water is wet" is informative. Even so, it's not your place to police what someone else considers to be a contribution.

And yet you find it necessary to police my posts. :rolleyes:

BTW It is still only a month since I OFFERED for you to do an imaginary short of bitcoin. It might only have been a mental bet but you would be losing your mind right now. Do you find that informative or should I wait 6 or 12 months before reminding you that you wanted to short bitcoin?

p0lka 14th June 2019 09:19 AM

offtopic:
Water is not wet, just saying ;)

psionl0 14th June 2019 10:51 AM

Quote:

Originally Posted by p0lka (Post 12726369)
offtopic:
Water is not wet, just saying ;)

https://www.merriam-webster.com/dictionary/wet

lomiller 14th June 2019 12:16 PM

Quote:

Originally Posted by Mycroft (Post 12726304)
Bitcoin mining putting out CO2 comparable to a medium sized city:

https://www.sciencedaily.com/release...0613104533.htm

Not that much compared to the size of the CO2 emissions problem, but still an incredible waste just to allow people to gamble over the internet.


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