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#801 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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19350.
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#802 |
Quester of Doglets
Moderator
Join Date: Dec 2009
Location: Sunny South Australia
Posts: 2,931
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17,076
Wheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee ee! |
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We would be better, and braver, to engage in enquiry, rather than indulge in the idle fancy, that we already know -- Plato. |
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#803 |
Quester of Doglets
Moderator
Join Date: Dec 2009
Location: Sunny South Australia
Posts: 2,931
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__________________
We would be better, and braver, to engage in enquiry, rather than indulge in the idle fancy, that we already know -- Plato. |
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#804 |
Philosopher
Join Date: Jun 2008
Posts: 5,278
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That's nothing for Bitcoin, a mere blip that could easily reverse itself tomorrow.
Some call it 'digital gold', but it isn't really a commodity - and with this volatility it's unlikely to see widespread application as a currency. So what's left? Speculation. Bitcoin is ideal for making money out of nothing, if you are skilled or lucky enough to beat the other fools. They keep putting money into the pot thinking they will all be winners, but as Bitcoin doesn't create wealth it's a zero sum game. For every 'investor' who gains, others lose, and the price goes up and down according to what they collectively imagine it is worth. Bitcoin's volatility is a hindrance to its original purpose, but speculators love it. The only thing that would damp their enthusiasm would be if it became stable, and then they would have to move on to something else. Some other cryptocurrencies are more useful and some are more volatile, but none have 'gone to the Moon' like Bitcoins has. Why is this so if they are 'technically' superior? Two reasons:- 1. less 'brand recognition' and lower loyalty. Bitcoin is the original, no others can compare! 2. They haven't got as much money in the pot. Even though you could make just as much trading in other 'coins', Bitcoin has the psychological edge because each one is 'worth' so much. Apart from that it's got nothing, but psychology is everything in this market... |
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We don't want good, sound arguments. We want arguments that sound good. |
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#805 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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__________________
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#806 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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New article will be coming out Sunday about Coinbase. Something about their treatment of Blacks and allegations of racism at Coinbase.
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“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#807 |
Illuminator
Join Date: Nov 2006
Posts: 3,252
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Indeed, it fell for a short period but is back to what it was before the dip.
Quote:
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Don't feed the trolls. Just ignore them. |
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#808 |
Philosopher
Join Date: Oct 2013
Posts: 9,264
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Crypto currencies should not show capital gain if serving the next world.
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#809 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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__________________
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#810 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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$20,899.00 a few minutes ago.
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#811 |
Philosopher
Join Date: Jun 2008
Posts: 5,278
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__________________
We don't want good, sound arguments. We want arguments that sound good. |
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#812 |
Illuminator
Join Date: Sep 2009
Location: Olomouc, Czech Republic
Posts: 3,134
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Well .. pornhub stopped accepting cards (or rather cards stopped accepting pornhub) and only way to pay is crypto now. Might actually be just starting.
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#813 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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Bummer! It happened while I was asleep. I wanted to be the one to report when the price broke the $20K barrier.
Just for laughs, I reviewed some of the posts from 2 - 3 years ago. The number of posters who authoritatively said that this will NEVER EVER happen is hilarious. |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#814 |
Philosopher
Join Date: May 2007
Posts: 8,809
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"The greatness of a nation and its moral progress can be judged by the way its animals are treated." -- Mahatma Gandhi Wollen owns the stage |
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#815 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#816 |
Illuminator
Join Date: Nov 2006
Posts: 3,252
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__________________
Don't feed the trolls. Just ignore them. |
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#817 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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$23,628
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#818 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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The Money Fairy is back in town. From past experience I can confidently say her stay is not set in stone. You can ignore her, again if you choose, or you can get some. No one can say they were not told.
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#819 |
Illuminator
Join Date: Sep 2009
Location: Olomouc, Czech Republic
Posts: 3,134
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#820 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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Buying in at BTC ATH for holding is silly, but riding those $1000+ swings is great.
For those that do not own BTC, there are several Alts that are also bouncing ATM and some real bargains ATM. Today has been very good for making money from crypto in general. Volatility of this type only comes around every now and then. Soon we'll be back to horizontal lines and brief hiccups.....Not much money in those. |
__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#821 |
Master Poster
Join Date: Sep 2012
Location: near trees, houses and a lake.
Posts: 2,174
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#822 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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History shows that whenever there has been a major bubble, the price peaked at many times its previous peak and even when the price crashed afterwards, it didn't fall below the previous peak.
If you can afford to gamble then "buy and hold" is a reasonable consideration. Also, buy and sell at 2 or 3 times your purchase price has a reasonable chance of succeeding. |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#823 |
Illuminator
Join Date: Jul 2007
Location: Florida
Posts: 3,066
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__________________
"There is a principle which is a bar against all information, which is proof against all arguments and which cannot fail to keep a man in everlasting ignorance - that principle is contempt prior to investigation." - Herbert Spencer |
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#824 |
Illuminator
Join Date: Sep 2009
Location: Olomouc, Czech Republic
Posts: 3,134
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#825 |
Philosopher
Join Date: May 2007
Posts: 8,809
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__________________
"The greatness of a nation and its moral progress can be judged by the way its animals are treated." -- Mahatma Gandhi Wollen owns the stage |
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#826 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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__________________
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#827 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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DNT pump on Coinbase Pro running again now if anyone's interested.
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#828 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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BTC testing $25K. $24,600 a few minutes ago.
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#829 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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BTC testing $26K. $25,777 a few minutes ago.
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#830 |
Illuminator
Join Date: Jul 2007
Location: Florida
Posts: 3,066
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The evidence, is that asset prices in dollars are skyrocketing everywhere, almost without exception, including bitcoin. What do you think this represents if nothing less than the debasement of the dollar?
If some asset prices somewhere were to rise, and some were to fall correspondingly, then maybe it wouldn't be so obvious. But asset prices have done nothing but rise across the board, from debt to equity, to speculative assets like bitcoin. |
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"There is a principle which is a bar against all information, which is proof against all arguments and which cannot fail to keep a man in everlasting ignorance - that principle is contempt prior to investigation." - Herbert Spencer |
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#831 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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That's a few rungs lower than "destruction" of the US dollar.
I know that we have perpetual inflation - made necessary by politicians who don't want to live within the government's means. If they had to explain where the money was coming from then their pork barreling would not be so effective. Much better to use the invisible hand of inflation to finance their profligacy. That's why the politicians (and their paid economists) all say this is a good thing. I thought you were saying that bitcoin would somehow put an end to the US dollar. |
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"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#832 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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BTC testing $30K. $29,918 a few minutes ago.
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#833 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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__________________
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#834 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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BTC $34K now on Coinbase.
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#835 |
Philosopher
Join Date: May 2007
Posts: 8,809
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Just a small detour on its way to zero.
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"The greatness of a nation and its moral progress can be judged by the way its animals are treated." -- Mahatma Gandhi Wollen owns the stage |
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#836 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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Looks like another DNT pump getting set up on Coinbase if anyone's interested. Could begin any minute now. My guess is 2:30 am start. CST*
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#837 |
Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,866
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__________________
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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#838 |
Director of Hatcheries and Conditioning
Join Date: Jul 2002
Location: Waiting for the pod bay door to open.
Posts: 42,986
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It is no longer a transactional currency. Transaction times are too slow for that and can never be quick enough. It just exists now because it was first and is more regarded as being valuable in itself. It has an inertia and an infrastructure base that no other CC has ever achieved.
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Continually pushing the boundaries of mediocrity. Everything is possible, but not everything is probable. “Perception is real, but the truth is not.” - Imelda Marcos |
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#839 |
Illuminator
Join Date: Jun 2012
Posts: 3,583
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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#840 |
Director of Hatcheries and Conditioning
Join Date: Jul 2002
Location: Waiting for the pod bay door to open.
Posts: 42,986
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__________________
Continually pushing the boundaries of mediocrity. Everything is possible, but not everything is probable. “Perception is real, but the truth is not.” - Imelda Marcos |
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