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Merged Bitcoin - Part 3

The Don said:
I was just pointing out to the uninitiated that your "predictions" aren't just 50/50 calls. For something which has a volatile price, saying that it will be higher/lower than its current price at some unspecified point in the future is both highly likely to be correct, but also functionally useless.
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Correct.

You sound like someone with actual, real life trading experience.
 
psionl0 said:
No disrespect to The Don but a mannequin could figure out the same thing.
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And yet, the internet is full of non-mannequins who can't seem to do so. Actually trading real money helps to cut through the nonsense, I've noticed.
 
psionl0 said:
Bitcoin topped the 9200 barrier this morning (currently about 9360).

It's a pity that Samson chickened out at 9188 - or did the pyramid fail to rise also?
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Why should anyone care? Bitcoin is a busted flush. I matters not how that market is manipulated. I have not an interest in associating with the criminal fraternity, nor the crank fraternity.
 
abaddon said:
Why should anyone care? Bitcoin is a busted flush.
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If we are not interested in Samson's fortune telling then what makes you think that we would be interested in yours? Tell us when the prices has dropped to zero.

abaddon said:
I matters not how that market is manipulated. I have not an interest in associating with the criminal fraternity, nor the crank fraternity.
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Here's a radical thought. End the war on drugs. That should see the demand for secret money drop to the floor.
 
Anyone familiar with Chainlink? Sorry the thread seems longish and I didn't want to pour back through it.

I have done some random googling, and it seems like it's getting a bit more attention recently. It should be noted I'm extremely dumb when it comes to this stuff. I'm invested to the tune of about $138 which has been as low as $98 and as high as $200. Mostly invested in Ripple, but I'm thinking about buying a bit of this coin to see how it does.
 
psionl0 said:
Inflation reduces the value of your savings. It transfers wealth from savers to debtors. Is that not obvious to you?
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Inflation, or more accurately, money creation, transfers wealth from savers to the (more likely than not) parasitical recipients of the newly created money or credit. While it's true that the real value of debts are worth less as money is debased, unless the debtor is a direct beneficiary of the money creation, it's just a second order effect.

Maybe you think that it is not like a tax unless you are physically handing dollars to another person. Or maybe it is that you have to fill out the necessary forms and submit them to the tax man.

This is reminiscent of those who say "it ain't money unless it is a federal reserve note . . . . ."
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With the advent of MMT becoming front and center, it's clearly obvious that inflation (money creation, specifically) is a tax. It's 2020, and Francesca was dead wrong, and I was right. MMT simply could not fund government if it weren't a tax. It's not a "direct" tax, since the Fed and it's cronies don't have to knock on your door and collect tax revenue, they can just debase your savings with a keystroke, but it is most certainly a tax, perhaps the most lucrative of all.
 
Tippit said:
Inflation, or more accurately, money creation, transfers wealth from savers to the (more likely than not) parasitical recipients of the newly created money or credit.
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This is not the thread for such a discussion but I think it is unfair to label people who borrow money from banks "parasitical recipients". There are plenty of legitimate reasons to borrow money (eg to build up a business).

To respond to what you posted in the silver thread, yes, a lot of bitcoin trading takes place "off block". That is why it is simplistic to examine the blockchain and scream "price manipulation" (although the price is likely manipulated).
 
psionl0 said:
No disrespect to The Don but a mannequin could figure out the same thing.
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Considering hop how much of this thread is dedicated to trying to explain to you that Bitcoin lacks an underlying market force to drive it’s price, I’m really not so sure you are in much of a position to comment on who could/couldn't figure this out...
 
lomiller said:
Considering hop how much of this thread is dedicated to trying to explain to you that Bitcoin lacks an underlying market force to drive it’s price, I’m really not so sure you are in much of a position to comment on who could/couldn't figure this out...
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Bitcoin has been around for 12 years now and still commands a high price so I am calling BS on this.
 
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