Wow. Bitcoin is almost $1,500

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Train

Lifer
Jun 22, 2000
13,863
68
91
www.bing.com


Mackay's account of inexplicable mania was unchallenged, and mostly unexamined, until the 1980s.[43] Research into tulip mania since then, especially by proponents of the efficient-market hypothesis,[17] suggests that his story was incomplete and inaccurate. In her 2007 scholarly analysis Tulipmania, Anne Goldgar states that the phenomenon was limited to "a fairly small group", and that most accounts from the period "are based on one or two contemporary pieces of propaganda and a prodigious amount of plagiarism".[11] Peter Garber argues that the trade in common bulbs "was no more than a meaningless winter drinking game, played by a plague-ridden population that made use of the vibrant tulip market."[44]

While Mackay's account held that a wide array of society was involved in the tulip trade, Goldgar's study of archived contracts found that even at its peak the trade in tulips was conducted almost exclusively by merchants and skilled craftsmen who were wealthy, but not members of the nobility.[45] Any economic fallout from the bubble was very limited. Goldgar, who identified many prominent buyers and sellers in the market, found fewer than half a dozen who experienced financial troubles in the time period, and even of these cases it is not clear that tulips were to blame.[46] This is not altogether surprising. Although prices had risen, money had not changed hands between buyers and sellers. Thus profits were never realized for sellers; unless sellers had made other purchases on credit in expectation of the profits, the collapse in prices did not cause anyone to lose money.[47]
 

ultimatebob

Lifer
Jul 1, 2001
25,135
2,445
126
I think you're wrong. Now that you can buy a t-shirt with Coolcoins, it has only increased in value/desirability.

Well... I can buy a t-shirt with Coolcoins, anyway. Everyone else is about 990 coins short at the moment

Although, at the exchange rate of 1,000 coins to a ($20?) t-shirt, Coolcoin is actually worth about the same as Dogecoin and worth more per token than Nimiq
 
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madoka

Diamond Member
Jun 22, 2004
4,344
712
121
I'm thinking of cashing out my pension and putting it into Bitcoin, Ethereum and Coolcoin. Thinking 10%, 10%, 80% respectively. Sound like a good plan?

80% into Coolcoins? You may have a hail-Mary shot at the t-shirt before we all die. Go for it!
 

Red Storm

Lifer
Oct 2, 2005
14,233
234
106
Well... I can buy a t-shirt with Coolcoins, anyway. Everyone else is about 990 coins short at the moment

Although, at the exchange rate of 1,000 coins to a ($20?) t-shirt, Coolcoin is actually worth about the same as Dogecoin worth more per token than Nimiq
Hey I've got a thousand Coolcoins, where's this t-shirt...
 

ultimatebob

Lifer
Jul 1, 2001
25,135
2,445
126
Hey I've got a thousand Coolcoins, where's this t-shirt...

Wow... I just realized that you actually DO probably have a thousand Coolcoins! I must have added a few extra zeros when I transfered that first batch of coins!

I have a store on Hexel (the coin generation site) with a single product. I'm not sure if the purchase system works.... I'd have to buy myself a t-shirt to test it.

Anyway, I am a man of my word... if you send me those back, you get to pick a t-shirt from this page:

http://a.co/4eK5hHY

But, come on now, you know you want the one with the space kitties!
 
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Red Storm

Lifer
Oct 2, 2005
14,233
234
106
Wow... I just realized that you actually DO probably have a thousand Coolcoins! I must have added a few extra zeros when I transfered that first batch of coins!

I have a store on Hexel (the coin generation site) with a single product. I'm not sure if the purchase system works.... I'd have to buy myself a t-shirt to test it.

Anyway, I am a man of my word... if you send me those back, you get to pick a t-shirt from this page:

http://a.co/4eK5hHY

But, come on now, you know you want the one with the space kitties!

You can't fool me! One day these coins will be worth something, and then I will buy all the shirts!
 
Reactions: destrekor

gorcorps

aka Brandon
Jul 18, 2004
30,740
452
126
Wow... I just realized that you actually DO probably have a thousand Coolcoins! I must have added a few extra zeros when I transfered that first batch of coins!

I have a store on Hexel (the coin generation site) with a single product. I'm not sure if the purchase system works.... I'd have to buy myself a t-shirt to test it.

Anyway, I am a man of my word... if you send me those back, you get to pick a t-shirt from this page:

http://a.co/4eK5hHY

But, come on now, you know you want the one with the space kitties!

I'm diggin the space bear with huge headphones
 

VeryCharBroiled

Senior member
Oct 6, 2008
387
25
101
I'm thinking of cashing out my pension and putting it into Bitcoin, Ethereum and Coolcoin. Thinking 10%, 10%, 80% respectively. Sound like a good plan? I want to retire by 40.

retired or homeless living under a bridge.

well living under a bridge CAN be considered retired i guess.

that being said, im hoping my stack can contribute to a better retirement than my fiat holdings alone would. if not, well it was a fun ride.
 
Reactions: PliotronX

PliotronX

Diamond Member
Oct 17, 1999
8,883
107
106
retired or homeless living under a bridge.

well living under a bridge CAN be considered retired i guess.

that being said, im hoping my stack can contribute to a better retirement than my fiat holdings alone would. if not, well it was a fun ride.
Sounds like "homeless for 400, Alex," the hype of the world only happens once and the ship has sailed

The next excitement will be the BTC successor becoming pronounced. So many alts vying for this.. I am surprised that LTC isn't more valuable as it still has use beyond sitting there doing nothing.
 

Red Squirrel

No Lifer
May 24, 2003
67,937
12,384
126
www.anyf.ca
retired or homeless living under a bridge.

well living under a bridge CAN be considered retired i guess.

that being said, im hoping my stack can contribute to a better retirement than my fiat holdings alone would. if not, well it was a fun ride.

More like I'll have homeless living under my bridges. When you have too much money to know what to do with you just start buying cities.

At least, with the amount of alcohol and weed I'll be consuming under the bridge that's what I'll be thinking.
 

VirtualLarry

No Lifer
Aug 25, 2001
56,453
10,121
126
Well, anyone else still mining? I'm slugging it out, under $3/day now, with like, 5 CPUs and 6 GPUs, making my apt. really warm. Using NH. I'm starting to believe the nay-sayers, about how the client has "evolved", and no longer shows the last few places of mBTC, which used to count up EVERY time you got a share, and now, it just sort of runs, over time. I believe the nay-sayers, who claim that you don't get credit for every share, now, and that NH is taking shares.

It just seems that the decrease in earnings, was rather ... steep.
 

OverVolt

Lifer
Aug 31, 2002
14,278
89
91
Wasn't the price spike, in hindsight, due to the development of ASICs chips spiking the difficulty to mine bitcoin?

It would have motivated everyone to hoard bitcoins anticipating ASICs chip gains/development further increasing the mining difficulty, which are mostly played out.

I'm a rather good theorycrafter haha.

First thing I thought when you couldn't mine bitcoin at home anymore really was "well now its time to buy bitcoin" but I was too busy IRL to fiddle with it.

If bitcoin was going to crash to zero it would have by now, IMO. I think the best thing is to just wait it out for the difficulty increase hype. I'm thinking the price is going to continue to slide lower or sideways, but not by much.

I'm thinking the key metric to track is ASICs chip efficiency and manufacturing capacity. A big spike in manufacturing/efficiency of miners would precede another rout of hoarding.
 
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Red Squirrel

No Lifer
May 24, 2003
67,937
12,384
126
www.anyf.ca
Still mining ethereum here. Have not cashed anything I mined so far so I just hope it eventually goes back up. I want to at least get to 1 eth, and then I might decide at that point if I want to call it quits or not, as it will give me hardware that I can use for something else. Probably convert it to a gaming machine, then repurpose my gaming machine as a test bed for a new VM solution. I eventually want to replace VMware on my main VM server with something open source like Proxmox or something.
 

daveybrat

Elite Member
Super Moderator
Jan 31, 2000
5,743
954
126
Wow, Ethereum is at $191.34 right now. Any end in sight to the bloodshed on Cryptocurrency?
 

Red Squirrel

No Lifer
May 24, 2003
67,937
12,384
126
www.anyf.ca
I figure my mining rig is just a really expensive electric heater at this point. Hopefully the price of eth does end up going up, if not, it's just supplementing heating the house. Gas heat is way cheaper though lol.
 

Staples

Diamond Member
Oct 28, 2001
4,952
119
106
After the unexpected dip in Feb, I was pretty sure it was going to be a big dip since it had gone up so fast. Now, it is still bleeding. Most alt coins are down 85%. I had a few until a few days ago. I can't believe anyone is buying into the market at this time. Prices are cheap compared to Dec but if the coins go to zero and stay there, then the prices now are very very expensive.

Onchainfx.com lets you select a column called % down from ATH. It is pretty scary. There is still plenty of volume on trades on exchanges but I wonder who is trading. I am thinking most are day traders trying to make a few bucks. Their average hold time is two days or less so it really pushes up the number of daily volume. People always report that they are institutional investors but I doubt it. Anyone with enough sense to make a job out of this probably wouldn't buy crypto until it starts an extended upward trend.
 
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Craig234

Lifer
May 1, 2006
38,548
349
126
Wow, Ethereum is at $191.34 right now. Any end in sight to the bloodshed on Cryptocurrency?

What is its 'real value'? That's how low it can go. It's always seemed like a 'sucker's game' bubble. Valued because of hype, only as long as people give real things for it.

Compare it to some other inflated items.

The dollar: the difference being the strength of the social support for its value, to the point of the government guaranteeing its redemption.

Paintings/collectibles: many paintings and collectibles are inflated in value by a perception they're 'good investments' others will continue to value - there's a stronger basis for that expectation.

In contrast, cryptocurrency seems to have little basis for value other than people saying 'hey that sounds high tech and I see the value shooting up' and vague anarchistic sympathies.

Sure, as a bubble product, it made sense for the early buyers. Recognize the market for something that can by hyped, and buy it early, and watch as the bubble gets inflated and you get the suckers' money.

And inevitably there's only so much interest and the bubble stops being inflated and the people who bought it for its shooting up get out and it falls.
 

DrMrLordX

Lifer
Apr 27, 2000
21,815
11,171
136
Bch is fairly priced,in terms of transaction costs, 10k

You wanna buy some BCH for $10k right now? I can hook you up mang!

After the unexpected dip in Feb, I was pretty sure it was going to be a big dip since it had gone up so fast. Now, it is still bleeding. Most alt coins are down 85%. I had a few until a few days ago. I can't believe anyone is buying into the market at this time. Prices are cheap compared to Dec but if the coins go to zero and stay there, then the prices now are very very expensive.

Onchainfx.com lets you select a column called % down from ATH. It is pretty scary. There is still plenty of volume on trades on exchanges but I wonder who is trading. I am thinking most are day traders trying to make a few bucks. Their average hold time is two days or less so it really pushes up the number of daily volume. People always report that they are institutional investors but I doubt it. Anyone with enough sense to make a job out of this probably wouldn't buy crypto until it starts an extended upward trend.

You're right to be wary of some projects. Those tokens may indeed go to $0, or near enough that they will cease to matter (or if you're patient, you can get a LOT of them if you really have a thing for the project and its existing blockchain/smart contract structure). Some of the projects that will survive will go back up at some point. As far as the trading volume is concerned, you have to remember that there are still a lot of traderbots out there engaged in things like setting up walls to manipulate traders, wash trading to manipulate prices, and other fun things. The usual unregulated market hyjinx. That's why you don't become a high-frequency trader yourself, so your trades can move in broad arcs rather than in short strokes.

That isn't the real issue behind all this trouble for the crypto market, though.

What is its 'real value'?

The value for most of the legit projects is either speculative right now, or in the early stages of implementation. For example, one of my favorite projects - REQ - already has a beta Dapp out that works. It's missing two things - 1). a proper low-cost/no-cost oracle for exchanges between fiat and crypto tokens and 2). higher throughput from the underlying blockchain (in this case, Ethereum). The Dapp appears to work otherwise. The other solution I see for it, is to forget about oracles and use DAI or TUSD as a medium of exchange instead, but that would require people adopting those tokens as a unit of barter. Not sure if that's gonna happen anytime soon.

Some other projects like Bounty0x have also rolled out beta Dapps.

There is actual progress being made, believe it or not.

The dollar: the difference being the strength of the social support for its value, to the point of the government guaranteeing its redemption.

Tsk tsk, do we have to go over this again? Not all crypto is attempting to be a unit of currency. Maybe you should actually read up on some of this stuff instead of getting distracted by all the scammers and hypemongers?
 

Craig234

Lifer
May 1, 2006
38,548
349
126
Tsk tsk, do we have to go over this again? Not all crypto is attempting to be a unit of currency. Maybe you should actually read up on some of this stuff instead of getting distracted by all the scammers and hypemongers?

I didn't say it is. I said why the same issue for crypto doesn't apply to the dollar.

Perhaps you should learn from my post and respond to the merits.
 
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