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Nov 26, 2017 06:13
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Aha ha ha!
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Nov 26, 2017 06:16
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To Namek!
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Nov 26, 2017 06:44
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temple posted:To Namek!
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Nov 26, 2017 07:19
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Uranium 235 posted:that just means they have no correlation, right? i would think that the R value has changed over time and wouldn't be surprised if there have been periods where there was a larger degree of correlation, but right now it makes sense. even if you assume that people want bitcoin and gold for the same reasons (there's definitely some overlap but a lot of bitcoin bugs are not gold bugs), bitcoin is relatively new and the rate of adoption is rapidly increasing. gold is an established market with a long history of price discovery. bitcoin is in a crazy bull frenzy while gold is just doing its thing as usual It means theyre decently correlated in opposite directions, so historically gold has decently hedged btc. So all that you said has been less significant than other factors. Age of existence probably doesn't have much effect. Could be a Mexican lemon situation, but there's enough data that I think there's something more, not that I'm going to invest in btc. The correlation is only long term, short term volatility of BTC is nuts. 1st_Panzer_Div. fucked around with this message at 08:15 on Nov 26, 2017 |
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Nov 26, 2017 08:06
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1st_Panzer_Div. posted:Sorry, didn't mean to offend. You can have money for a lot of reasons. But anyone looking at gold and bitcoins as investments should not be investing. Gold has no value. None. Jewelry/electronics/etc is just man putting value into it. The value in electronics is crazy small to the prices it trades at. Not offended and I probably deserve to be called out. But I wasn't actually saying buy gold. I more said "hey this guy smarter than me says to buy gold. It sounds like an idea. What's up with that ?" I've been doing the crypto thing for a couple weeks now, for fun. It's like those websites that let you day trade with fake money and tell you what you would have gained or lost. Anyways, I have 500 siacoins now, and about $13 btc from using nicehash. I think I'll cash that out and buy ethereum or maybe I'll just cash out and pay my electricity bill.
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Nov 26, 2017 08:39
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quote:Very cheap regardless of amount $$$ sent (with new apps coming) Nothing suspicious about any of these claims. It’s over 9000!!! *vegeta gif*
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Nov 26, 2017 08:39
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Manic Technophile posted:Yeah it's up to 8800 holy gently caress. There will be divorces caused by Bitcoin. lol if you think there haven't been any already
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Nov 26, 2017 09:55
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down n out posted:Nothing suspicious about any of these claims. It’s over 9000!!! *vegeta gif* "its supply goes down with time" is an interesting way to get a detail wrong
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Nov 26, 2017 09:58
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Reminder that there's the "Large Bitcoin Collider", a collaborative effort to brute force private keys. So far they've found over a dozen of them.
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Nov 26, 2017 10:37
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Has anyone actually cashed out yet? I keep searching for someone switching from up up up to good enough and coming up empty. TheAbortionator fucked around with this message at 10:46 on Nov 26, 2017 |
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Nov 26, 2017 10:39
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Where are the instagram bitcoin billionaires is all im asking
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Nov 26, 2017 10:50
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john titor predicted this
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Nov 26, 2017 11:29
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If someone had ignored goons and put in money at the start of this thread intending to cash out a fraction at every round number and letting the rest ride (a pretty decent strategy for the people who don’t have the time to follow this mess), they’d now have cashed out 50% with 100% still in Don’t do it now though, the correction at 10k will be a big one because the bitcoin herd is retarded
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Nov 26, 2017 11:36
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TheAbortionator posted:Where are the instagram bitcoin billionaires is all im asking Someone did some actual polling work and among bitcoiners the average "okay good enough" point is $200k/bitcoin
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Nov 26, 2017 11:51
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has anybody alerted Curt Schilling about getting in on the ground floor of bitcoin before it takes off
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Nov 26, 2017 12:11
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Ah man curt schilling. That poor sad man who went into business with his family. Helleva pitcher though. 2001 World Series him and Randy Johnson co-cyyoungs or whatever.
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Nov 26, 2017 12:49
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Toys For rear end Bum posted:Reminder that there's the "Large Bitcoin Collider", a collaborative effort to brute force private keys. This is dope. I might join a pool
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Nov 26, 2017 15:54
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Regarding that Bitcoin collider, has anyone done the math to see if there's an inflection point where X energy put into brute forcing private keys is < the total energy consumed by the BTC network, and more profitable than mining, on average?
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Nov 26, 2017 16:50
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TheAbortionator posted:Has anyone actually cashed out yet? Some guy in the other thread said he works at a bank and some guy came in with bitcoins he got from selling his car to his friend or something when they were worth like nothing. And the bank let him help the guy, so he has the guy sell the bitcoin one day then transfer the cash out the next day because of daily limits. I think he said it would take the guy like a month or something to cash out. I bet someone else remembers the posters name and more details to his tale. I think the guys friend didn't even have money to buy the car so he paid his other friend in bitcoin(lol) and he forgot about it. So its not like the guy planned to invest in bitcoin. Tenzarin fucked around with this message at 17:17 on Nov 26, 2017 |
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Nov 26, 2017 17:13
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Mods plz change title to Bitcoin is at $100,000. WTF! Just saving you some time 
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Nov 26, 2017 17:27
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EorayMel posted:It won't be long until it costs 31% lol The electricity used to mine bitcoin this year is bigger than the annual usage of 159 countries PowerCompare.co.uk used stats from Bitcoin and cryptocurrency data provider Digiconomist, which estimates that 29.05 TWh of electricity was used to mine bitcoin, compared to an estimated 25 TWh of electricity per year used by Ireland. http://www.businessinsider.com/bitcoin-mining-electricity-usage-2017-11
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Nov 26, 2017 17:48
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Lime Tonics posted:lol each or combined total of 159 countries?
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Nov 26, 2017 18:25
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*Here comes Mr. helpful ITT* Now it is at 9.5 k 
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Nov 26, 2017 18:30
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Sten Freak posted:This is dope. quote:. It is not illegal to search for colliding private keys. It may be illegal - depending on the jurisdiction you are in - to actually claim possession of funds found that way.
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Nov 26, 2017 19:01
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Sten Freak posted:This is dope. lmao Yeah go install whatever .exe the people hacking a bunch of BTC wallets tell you to use that will end well.
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Nov 26, 2017 19:03
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Adar posted:If someone had ignored goons and put in money at the start of this thread intending to cash out a fraction at every round number and letting the rest ride (a pretty decent strategy for the people who don’t have the time to follow this mess), they’d now have cashed out 50% with 100% still in You could have made money investing with Bernie Madoff a decade ago too!
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Nov 26, 2017 22:42
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Adar posted:If someone had ignored goons and put in money at the start of this thread intending to cash out a fraction at every round number and letting the rest ride (a pretty decent strategy for the people who don’t have the time to follow this mess), they’d now have cashed out 50% with 100% still in
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Nov 26, 2017 22:55
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1st_Panzer_Div. posted:It means theyre decently correlated in opposite directions, so historically gold has decently hedged btc. So all that you said has been less significant than other factors. Age of existence probably doesn't have much effect. i once saw a chart someone posted that appeared to show a strong inverse correlation between bitcoin and the british pound. it only showed a day or two of activity and i'm not sure what it means, but it was interesting. edit: also do you have a link talking about the -.6 R? i'm curious Uranium 235 fucked around with this message at 23:28 on Nov 26, 2017 |
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Nov 26, 2017 23:22
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Uranium 235 posted:i once saw a chart someone posted that appeared to show a strong inverse correlation between bitcoin and the british pound. it only showed a day or two of activity and i'm not sure what it means, but it was interesting. The British pound has crashed due to brexit. That means you can correlate anything the goes up (or down) during the past 1.5-2 years or so. There’s probably a good correlation to “days Trump has been president.” R is the correlation coefficient. It’s a measurement of the expected deviation (here from a line) with the observed deviation. It should be as close to 1 as possible. 0.6 is not really that close. It’s also not absurdly far, it just indicates “two numbers went up/down.” Depending on how much you hate linear algebra and statistics, Wikipedia actually has decent articles on it (https://en.m.wikipedia.org/wiki/Coefficient_of_determination, https://en.m.wikipedia.org/wiki/Linear_regression and https://en.m.wikipedia.org/wiki/Ordinary_least_squares)
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Nov 26, 2017 23:43
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I believe the term you're looking for is spurious correlation http://www.tylervigen.com/spurious-correlations
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Nov 26, 2017 23:49
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klafbang posted:The British pound has crashed due to brexit. That means you can correlate anything the goes up (or down) during the past 1.5-2 years or so. There’s probably a good correlation to “days Trump has been president.” i wish i had the chart but it was was a 15 min or 1 hour candlestick chart that showed a nearly perfect inverse correlation over a fairly short period of time. for instance, if the pound made a "w" then bitcoin made an "m" it was an interesting correlation and i have no idea if it matches up longer term. it was just something that someone shared and i saw by chance
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Nov 27, 2017 02:52
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Bitcoin noob here with a few questions: 1) The price of BTC has been skyrocketing this year and will probably hit $10,000 USD within the next few days. Does the value keep going up due to the number of people buying more Bitcoin? 2) Although the value of BTC keeps going up, I read that there are problems with even buying / selling / using Bitcoin. The buying and selling portion takes 7+ days to complete while using Bitcoin has high transfer costs due to how overloaded the network is. Doesn't this mean that the whole reason why BTC started (Low transfer rates, ease of use etc) is gone? 3) If people are unable to use BTC at stores that accept it, or even pay $1 transfer fee for a $2 cup of coffee, doesn't this mean that the value keeps going up due to people buying it to make money off of it and not for daily use? Isn't this speculation and fast growth a classic sign of a bubble? 4) And with the price increasing so quickly, would people who have BTC want to even use it for small purchases? Wouldn't it make more sense for them to just use cash or credit to buy what they need to buy while holding onto BTC? Isn't this problematic? Busy Bee fucked around with this message at 03:50 on Nov 27, 2017 |
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Nov 27, 2017 03:44
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Busy Bee posted:Bitcoin noob here with a few questions: 2) Do banks allow you to choose the fee you pay? 3) People speculate on tech all the time. Is the tech market in a bubble?
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Nov 27, 2017 03:52
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Busy Bee posted:Bitcoin noob here with a few questions: buy a bitcoin
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Nov 27, 2017 03:53
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Busy Bee posted:Bitcoin noob here with a few questions: 1) Yes 2) Yes 3) Yes 4) Yes, and credit will remain a more consumer-friendly payment option thanks, in part, to being reversible.
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Nov 27, 2017 03:56
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temple posted:3) People speculate on tech all the time. Is the tech market in a bubble? Yes
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Nov 27, 2017 04:22
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Inept posted:Yes I had to do a doubletake on reading that one because it felt like someone asking if the housing market was a bubble while it went up and up. Like yeah, that even the common and well known tech sites/apps/services are mostly funded on venture capital and haven't flipped a profit in years of existing is a well known thing and a sign the the party is gonna end eventually.
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Nov 27, 2017 04:25
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Busy Bee posted:Bitcoin noob here with a few questions: 1) Partly; there's also rampant market manipulation. Not only do the biggest exchanges permit practices that are crazy illegal in other markets, there's also evidence that all of the major exchanges run trading bots (these are the only accounts logging trades during exchange downtime) that exist solely to pump the price. The largest bitcoin exchange (Bitfinex) is also running multiple other schemes that help pump the price (buying bitcoins with unredeemable IOUs instead of money whenever the price is dipping, not permitting real money withdrawals, etc; classic ponzi scheme shenanigans basically) 2) That depends a lot on how you're buying/selling it. Getting an account on an exchange could take you 7+ days but once you're on an exchange buys/sells happen instantly; those kinds of transactions aren't actually using bitcoin (aka they're not on the blockchain) so they are very fast. Actually spending bitcoins is a whole bag of worms; what often happens is you send bitcoin to an address owned by a company like BitPay, and BitPay gives US Dollars to the vendor, but if you don't attach a high enough fee then BitPay won't receive your payment in time (or at all) and they'll only give you a partial refund (you pay the fee for them to send the bitcoins back to your wallet) 3) $1 transfer fee would be very low; it's closer to $5. And yes; bitcoin is a classic example of a speculative bubble. It is extremely bad as a currency and the overwhelmingly dominant use case is "you can sell it to someone else for more money later" 4) Astute observation: a recent poll suggested that the average bitcoiner is refusing to cash out until the price reaches about $200k/bitcoin. There's nothing that will drive the price that high except irrational exuberance.
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Nov 27, 2017 04:35
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I just exchanged 100 dollars worth of bitcoins into amazon gift card credit - 10 dollars shaved off by fees and transfer, but at least I own Pandemic legacy season 2 thanks to internet funny money
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Nov 27, 2017 07:35
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