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Showing 20 of 45 results by DanielT
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Topic
Board Economics
Re: I need bitcoin to be $690 to break even.....will I make it?
by
DanielT
on 11/04/2015, 00:42:05 UTC
I think you're quite well OP (supposing bitcoin is a success and you are ok financially). In 5 years, you should hold/spend your bitcoins. Or you may want to cashout for some reason, IDK.
Post
Topic
Board Economics
Re: Technological unemployment is (almost) here
by
DanielT
on 11/04/2015, 00:15:58 UTC
Much before robots become that useful, most people will already have bought one or two of them (it is worth surviving a massive economic transformation), and they will probably make robots works for livelihood. In the worst of hypothesis, people will associate to others who have robots.

It seems that, economically, there is a challenge: huge increase in robot-capital prices that would inevitably come in a robot-dominated economy. Technological advancements can't stop this. All the massive economic management we do for many, many stuff now, would have an analogue in the future. That is a non-trivial economic problem. As the current wealth of the world is inflated by imaginary assets (=fiat), there is not enough capital for the massive transformation (that is why the 1% can't just tell fuck off to the 99%, kill 95%, and become the kings of robots), so spontaneous processes would favor human beings undertaking robot-economy projects.

No need for government.
Post
Topic
Board Speculation
Re: When will BTC again reach 400$+
by
DanielT
on 20/02/2015, 15:07:30 UTC
Before July.
Post
Topic
Board Speculation
Re: Bitcoin price to rebound to $250 ?
by
DanielT
on 06/02/2015, 23:50:30 UTC
Nope, not in the near future.
Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DanielT
on 06/02/2015, 19:23:16 UTC
We've had boring oscillations this week. What does this mean? Sub-200 or start of bull market?
Post
Topic
Board Economics
Re: What if there never was QE?
by
DanielT
on 02/02/2015, 19:25:59 UTC
It is available for bank reverse purposes.
Post
Topic
Board Bitcoin Discussion
Re: Do (some) early adopters see Satoshi as being God?
by
DanielT
on 02/02/2015, 18:57:40 UTC
As for being a god, none of history's greatest inventors are considered gods.

Bitcoin is the first invention that gives wealth to the early adopters, without needing to do business. It is not an ordinary invention.
Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DanielT
on 01/02/2015, 22:12:36 UTC
It seems like another pump and dump.
Post
Topic
Board Economics
Re: Were the Keynesians wrong?
by
DanielT
on 31/01/2015, 21:52:53 UTC
1. By the very denotation of “deflation” (see my previous post) it does.

Money supply essentially never contracted in history. What happened is the decrease of prices.
Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DanielT
on 31/01/2015, 17:13:39 UTC
Noob question. Is there a way for one to somehow value this instrument for market vs intrinsic value.. Any ratio performance driver?Or something similar in a way to 3 financial statement forecasting model for equities or is TA the only way to ride?

No. (no need for a longer answer I suppose)
Post
Topic
Board Economics
Re: Were the Keynesians wrong?
by
DanielT
on 31/01/2015, 17:10:55 UTC
Quote from: deflation, Merriam-Webster, Inc. link=http://www.merriam-webster.com/dictionary/a?ref=dictionary&word=deflation#
2  :  a contraction in the volume of available money or credit that results in a general decline in prices
(Red colorization mine.)

The supply of electronics was expanded.

That is a fail definition if you are trying to defend the idea of deflationary spiral. A Keynesian would say that deflation is price decrease, and not a contraction of money supply. (which never ever happened)
Post
Topic
Board Micro Earnings
Re: New: Scratch 4 Satoshis major upgrade
by
DanielT
on 31/01/2015, 13:40:07 UTC
I won 10k satoshi!!

Ticket: 0GMLJC-5GSPVP

Address: 13WN5njo8hRPzTQWzdmr7eMaiqLyi8jdY8
Post
Topic
Board Speculation
Re: Permabear celebration thread [proven experts talk]
by
DanielT
on 30/01/2015, 20:27:43 UTC
What will permabears be called when bitcoin hits the bottom??!!!  Cheesy Wink

If $0, prophets. If a bull market starts, idiots.
Post
Topic
Board Economics
Re: Proof of Stake from an austrian school perspective
by
DanielT
on 29/01/2015, 16:55:40 UTC
Fiat money started out in another way: it started out as a "proof of holding gold or silver" or was "backed" in some or other way.  But now, fiat money stands on itself, as a state-issued token, printed on paper, or even just acknowledged in a computer account.

You are forced to pay taxes in fiat. USA (and other countries) have a powerful army they use to back fiat. States offers financial titles and other stuff. Fiat is backed by many ways.

My point is that a monetary asset is just an asset of which enough people think it is a monetary item.  How that collective belief is established, is in fact somewhat irrelevant.

This is problematic, as you are merely creating a ponzi scheme.
Post
Topic
Board Speculation
Re: Sustaining prices versus dirty pump
by
DanielT
on 29/01/2015, 15:20:45 UTC
Does NLC always put that ugly ass picture in his posts?? I'm may ignore him now.
Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DanielT
on 29/01/2015, 15:18:06 UTC
Another pump, is this the long-awaited bullish take off? /sarc question
Post
Topic
Board Speculation
Re: Sustaining prices versus dirty pump
by
DanielT
on 29/01/2015, 14:30:53 UTC
Everyone knows what to expect and those numbers are fixated. Now compare that to our central banks.

I'm not trying to imply central banks are better than Bitcoin, so I don't know where are you going with this.
Post
Topic
Board Speculation
Re: Sustaining prices versus dirty pump
by
DanielT
on 29/01/2015, 14:03:12 UTC
It will be 5% next year. That's the inflation target of most western countries.

That is next year, and 5% is still borderline high.
Post
Topic
Board Speculation
Re: Sustaining prices versus dirty pump
by
DanielT
on 29/01/2015, 13:52:27 UTC
I don't think all of the mined coins are dumped. Some people even hold on to them .

Miners have to pay electricity, and it is risky to hold btc in a bear market. The bull market could start in few weeks, but who can afford to wait?

If Bitcoin can't handle 10% inflation a year, it's not worth it.

I haven't heard a currency that can handle 10% inflation without some costs.
Post
Topic
Board Speculation
Topic OP
Sustaining prices versus dirty pump
by
DanielT
on 29/01/2015, 13:40:17 UTC
Some people like to say that the 3600 bitcoins being dumped is nothing, because of the volumes we see in exchanges are much larger.

That, misses the point, as 3600 is a dump constant put against short-term speculation. Who wins? At $300/btc, traders must pour $1,080,000 every day, for sustaining the price. That is indeed a total amount (no one needs to pump $1,080,000 single-handed), thus not necessary the most ridiculous value there is. But the speculator excitement is now very low. Therefore in order to bring bitcoin to great heights (A.K.A the moon) at the current inflation level, the pump must be legendary.  There simply isn't such a market.

Thus I conclude that we won't see ATH prices so soon, as permabulls like to claim.