Bitcoin and crypto currencies

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neverfail
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Re: Bitcoin and crypto currencies

Post by neverfail » Mon Dec 11, 2017 12:01 pm

SteveFoerster wrote:
Mon Dec 11, 2017 10:08 am
neverfail wrote:
Sun Dec 10, 2017 3:39 pm
http://www.smh.com.au/business/bitcoin- ... 4yxki.html

Bitcoin looks like a bubble, New Zealand's central banker warns.

Take heed!
Because if anyone has an unbiased opinion about an alternative to central bank issued currency, it's definitely a central banker. :twisted:
Shoot the messenger?

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SteveFoerster
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Re: Bitcoin and crypto currencies

Post by SteveFoerster » Tue Dec 12, 2017 8:14 am

neverfail wrote:
Mon Dec 11, 2017 12:01 pm
SteveFoerster wrote:
Mon Dec 11, 2017 10:08 am
neverfail wrote:
Sun Dec 10, 2017 3:39 pm
http://www.smh.com.au/business/bitcoin- ... 4yxki.html

Bitcoin looks like a bubble, New Zealand's central banker warns.

Take heed!
Because if anyone has an unbiased opinion about an alternative to central bank issued currency, it's definitely a central banker. :twisted:
Shoot the messenger?
In this case? Yeah, kind of. I mean, buggy whip makers aren't exactly unbiased messengers about why cars are a big mistake.
Writer, technologist, educator, gadfly.
President of New World University: http://newworld.ac

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Doc
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Re: Bitcoin and crypto currencies

Post by Doc » Tue Dec 12, 2017 2:01 pm

The upper realistic limit of BitCoin is $57 Anything above that is speculation.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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DavAdmin
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Re: Bitcoin and crypto currencies

Post by DavAdmin » Wed Dec 13, 2017 2:33 am

Its time for the altcoins to get some attention!

Ripple finally awakens:
http://bitcoinist.com/banking-bonus-revives-ripple/

Ethereum and Litecoin have also been trading at record highs today.

Bitcoin is not the only fruit. :mrgreen:

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SteveFoerster
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Re: Bitcoin and crypto currencies

Post by SteveFoerster » Wed Dec 13, 2017 2:01 pm

Doc wrote:
Tue Dec 12, 2017 2:01 pm
The upper realistic limit of BitCoin is $57 Anything above that is speculation.
Based on?
Writer, technologist, educator, gadfly.
President of New World University: http://newworld.ac

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Doc
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Re: Bitcoin and crypto currencies

Post by Doc » Thu Dec 14, 2017 9:33 am

SteveFoerster wrote:
Wed Dec 13, 2017 2:01 pm
Doc wrote:
Tue Dec 12, 2017 2:01 pm
The upper realistic limit of BitCoin is $57 Anything above that is speculation.
Based on?

The amount of US currency in circulation. IE $1.2 trillion dollars. There may be a better standard to measure by But doesn't it seem that this or something like this should be a very good yard stick.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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DavAdmin
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Re: Bitcoin and crypto currencies

Post by DavAdmin » Thu Dec 14, 2017 11:17 pm

Doc wrote:
Thu Dec 14, 2017 9:33 am
The amount of US currency in circulation. IE $1.2 trillion dollars. There may be a better standard to measure by But doesn't it seem that this or something like this should be a very good yard stick.
No, it isn't since Asians are the biggest buyers of crypto currencies:
http://bitcoinist.com/asian-buyers-driv ... coin-boom/




FCC kills net neutrality regulations ...

Don't worry, there is a blockchain solution:
http://www.newsbtc.com/2017/12/15/subst ... ship-call/

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Doc
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Re: Bitcoin and crypto currencies

Post by Doc » Fri Dec 15, 2017 2:00 pm

DavAdmin wrote:
Thu Dec 14, 2017 11:17 pm
Doc wrote:
Thu Dec 14, 2017 9:33 am
The amount of US currency in circulation. IE $1.2 trillion dollars. There may be a better standard to measure by But doesn't it seem that this or something like this should be a very good yard stick.
No, it isn't since Asians are the biggest buyers of crypto currencies:
http://bitcoinist.com/asian-buyers-driv ... coin-boom/
I am thinking in terms of the Dollar being the world's reserve currency. There probably is more to factor in but Any currency's value is based on what it can buy. Which is perceived by its scarcity. With currency everything is relative to everything else. Since the dollar is the world reserve currency it is just he easiest to compare to.

Let me give you an example of what I mean. 2009 to 2012 the stock market rose substantially in dollar terms. However so did the price of gold. In fact the stock market and the price of gold tracked perfectly during that time. Which means that the Stock market did not really go up as much as the value of the dollar went down due to the pumping of dollars into the economy by the federal reserve.

Now I said $57 is the value of Bitcoin is relatively based on the amount of US currency in circulation. Another way to measure is the amount of US government debt + the amount of US currency in circulation. Which would be around $21 Trillion. Plus not all 21 billion Bitcoins have been mined. But for simplification assume all have been mined. That would put the "Natural" value of Bitcoins at $1000 relative to the dollar. IE the long term average if the amount of dollars stays the same.

The most likely reason Bitcoin's value is above these amounts is emotional(Deflation). The second is it is a pump and dump. I discount the latter because there are individuals with huge piles of bitcoin they have bought years ago and never sold. Which adds another problem: The volume of Bitcoins being bought and sold is going down since as Bitcoins become more valuable fewer are needed to buy things. Which is deflation and a bad thing for Bitcoin. Currencies that have a stable value are much more preferable But as it is BItcoins is in a closed feedback loop. There is a maximum of $21 billion coins. As the value goes up people are less likely to sell and much more likely to buy. Which drives the value up radically. At some point there is a danger of a Bitcoin collapse.

https://www.investopedia.com/features/c ... ashes2.asp

FCC kills net neutrality regulations ...

Don't worry, there is a blockchain solution:
http://www.newsbtc.com/2017/12/15/subst ... ship-call/
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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lzzrdgrrl
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Re: Bitcoin and crypto currencies

Post by lzzrdgrrl » Thu Dec 28, 2017 9:45 pm

Are we taking on water yet or do we maintain course?.........
South Korea has been ground zero for a global surge in interest in bitcoin and other digital currencies as prices surged this year, prompting the nation’s prime minister to worry over the impact on Korean youth. While there’s no indication Asia’s No. 4 economy will shutter exchanges that have accounted by some measures for more than a fifth of global trading, the news is a warning as regulators express concerns about private digital currencies.
http://fortune.com/2017/12/28/bitcoin-f ... e-closure/
I have a certain notoriety among the lesser gods........

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DavAdmin
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Re: Bitcoin and crypto currencies

Post by DavAdmin » Fri Dec 29, 2017 6:08 pm

Maintain course, small market correction followed that announcement, SK haven't banned anything, just a little more regulation.

Thailand seems open at the moment: http://bitcoinist.com/thai-authorities- ... urrencies/

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