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katastrofa
Posts: 5814
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Location: Alpha Centauri

Re: End of bitcoin?

January 12th, 2018, 12:54 pm

tagoma wrote:
katastrofa wrote:

Are you involved in it?

No, but an equally nice lady is ;-) Maria Belka
Prof. Marek Belka's daughter: https://en.wikipedia.org/wiki/Marek_Belka (one of the brightest in his department, imho)
 
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Cuchulainn
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Re: End of bitcoin?

January 12th, 2018, 3:00 pm

 
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tagoma
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Re: End of bitcoin?

January 12th, 2018, 8:49 pm

... after the virtual currency girls band

 
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katastrofa
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Re: End of bitcoin?

January 12th, 2018, 10:27 pm

Unicoin? Based on how many unicorns you've seen in your life.
Image
 
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tagoma
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Re: End of bitcoin?

January 13th, 2018, 3:26 pm

katastrofa wrote:
Unicoin? Based on how many unicorns you've seen in your life.
Image

Haven't you already put your moneys in CryptoKitties?
 
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kc11415
Posts: 371
Joined: March 16th, 2003, 10:02 pm
Location: United States

Re: End of bitcoin?

January 13th, 2018, 8:20 pm

FRB_DailyYieldCurve_Spreads.PNG

Is the understanding accurate that the relatively high transaction cost to use BTC for purchases renders it more economically viable as a store of value (eg. inflation hedge) than as a regular currency for buying/selling ? (ignoring purchases where economic efficiency of transaction cost is not highest priority)  If so, then shouldn't analysis of its current price factor in fundamental demand for store of value?  Yield spread between different tenors of treasuries has collapsed in the past year or two.  Perhaps an inflation hedge might be the least of our needs? https://fred.stlouisfed.org/series/T10Y2Y
 
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Traden4Alpha
Posts: 23951
Joined: September 20th, 2002, 8:30 pm

Re: End of bitcoin?

January 14th, 2018, 12:04 am

Yes, high transaction costs (and high volatility) make bitcoin noncompetitive as a medium of exchange. A number of companies have stopped accepting BTC for purchases.

I would not say that relatively high transaction costs make BTC more viable as a store of value. Relatively high transaction costs of BTC are not as intolerable for store of value.
Store of value users also prefer the lowest possible transaction costs. but those BTC transaction costs will be small in percentage terms for the larger transactions typical of store of value activities.

BTC's attractiveness for store of value probably has more to do with the store side than the value side. Some might seek to store assets outside the reach of kleptocratic tax authorities.

Given that BTC can be prone to hyperinflation -- losing 10% of its value in a week certainly qualifies -- I don't see how it is a hedge against inflation.
 
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katastrofa
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Location: Alpha Centauri

Re: End of bitcoin?

January 14th, 2018, 5:47 pm

tagoma wrote:
katastrofa wrote:
Unicoin? Based on how many unicorns you've seen in your life.
Image

Haven't you already put your moneys in CryptoKitties?

Do you want to buy or breed?
 
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outrun
Posts: 4573
Joined: April 29th, 2016, 1:40 pm

Re: End of bitcoin?

January 17th, 2018, 4:57 pm

 
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Alan
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Re: End of bitcoin?

January 17th, 2018, 5:50 pm

Haha -- love how these rationales always come out after the move. Reminds of a few years back when the gold bugs were promoting the "Indian wedding season" seasonal. Personally, I blame the drop on the obviously poor feng shui alignment of Coinbase's headquarters.

Image



 
 
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outrun
Posts: 4573
Joined: April 29th, 2016, 1:40 pm

Re: End of bitcoin?

January 17th, 2018, 6:30 pm

Oh man, you're right, look at how that glass box doesn't align with that carpet!

..and I know those chairs! Hor-ri-ble.They should have bought Eames 116s.

I'm still hodling though! Don't want to sell at the low.
 
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Paul
Posts: 8410
Joined: July 20th, 2001, 3:28 pm

Re: End of bitcoin?

January 17th, 2018, 7:10 pm

outrun wrote:
Don't want to sell ...

I like the way you swapped the two l’s around!
 
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outrun
Posts: 4573
Joined: April 29th, 2016, 1:40 pm

Re: End of bitcoin?

January 17th, 2018, 7:42 pm

Paul wrote:
outrun wrote:
Don't want to sell ...

I like the way you swapped the two l’s around!

Yes, twice!
 
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Alan
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Re: End of bitcoin?

January 17th, 2018, 8:37 pm

OK, I'm calling the bottom: $8191, since in binary: $1111111111111
 
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tagoma
Posts: 18056
Joined: February 21st, 2010, 12:58 pm

Re: End of bitcoin?

January 17th, 2018, 10:06 pm

and a good buying opportunity if it closes above $10946
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