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Kobayashi posted:My theory is that the initial spike was caused by an influx of smart Wall St. money when the BTC futures market was announced, and that this week’s bullshit is a combination of dumb, me-too Wall St. money and general mania from the public. But who knows. No, it was caused by the massive influx of fake money.
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Dec 8, 2017 05:30
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fishmech posted:No, it was caused by the massive influx of fake money. https://i.imgur.com/N2iqLgG.png https://i.imgur.com/IvwPRnr.png
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Dec 8, 2017 05:46
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Everyone please remember John McAfee said he'll eat his dick on national television if bitcoin doesn't hit $1m by 2020. I really don't want him to be able to pretend he didn't promise that. https://diegorod.github.io/WillMcAfeeEatHisOwnDick/
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Dec 8, 2017 05:59
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About 50 years from now two young American boys will be walking through the dilapidated ruins of our now great American society...And they'll come across a couple of old geezers who call them young whippersnappers for having been born in the distant almost unmemorable past year of 2017. "Ah yes 2017!" They'll say. "I remember that year." Will say another. "Well that was the year that Bitcoin got so popular!" Says a third. "Ah bitcoin...yeah...Bitcoin. I remember it like it was only yesterday." Starts off the first old geezer. "You trade it and make some money, then you trade i lost some money, then you traded it and made some money only to lose it all over again and finally when all was said and done you got all your funds stolen when your exchange was hacked by it's owner." "Oh yeah!" the last one will respond "But some of us got rich...at least...for the couple of months it took for the nuclear war to hit." And those young american boys will think we're all crazy.
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Dec 8, 2017 06:05
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aware of dog posted:https://twitter.com/officialmcafee/status/938938539282190337  No I didn't edit the captions.
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Dec 8, 2017 06:33
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fishmech posted:No, it was caused by the massive influx of fake money. How is it always dumber than I think possible?
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Dec 8, 2017 06:35
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Bitcoin's official tagline might as well be 'The market can stay irrational longer than you can stay solvent'.
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Dec 8, 2017 07:04
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a reminder that bitcoin once had a large bitcoin owner try cashing out, which started crashing the price of bitcoin, and so the community's response was to throw tons and tons of money at this dreadful "bearwhale" and save their beloved currency's value and they celebrate this 
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Dec 8, 2017 07:09
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So, the way you all are talking... is the crash this weekend or early next week?
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Dec 8, 2017 07:20
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Paladin posted:So, the way you all are talking... is the crash this weekend or early next week? Mu.
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Dec 8, 2017 07:25
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Doesn't one group control more than 50% of the bitcoin mining power? Meaning they can gently caress with the sanctity of the blockchain if they don't like how things are going for them?
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Dec 8, 2017 07:35
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Gazpacho posted:
It's so beautiful watching a literal undergrad textbook example happen in real time.
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Dec 8, 2017 07:46
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PJOmega posted:It's so beautiful watching a literal undergrad textbook example happen in real time. The textbooks will have to draw the peak going higher, faster now
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Dec 8, 2017 08:23
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pr0zac posted:Everyone please remember John McAfee said he'll eat his dick on national television if bitcoin doesn't hit $1m by 2020. I really don't want him to be able to pretend he didn't promise that.
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Dec 8, 2017 10:06
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Total Meatlove posted:The textbooks will have to draw the peak going higher, faster now We're like 1 month away from bitcoin beating Tulip Mania.
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Dec 8, 2017 10:35
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MiddleOne posted:We're like 1 month away from bitcoin beating Tulip Mania. How does bitcoin even compare to tulip mania?
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Dec 8, 2017 10:44
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Star Man posted:How does bitcoin even compare to tulip mania? Yeah, comparing tulips to bitcoins is an insult to tulips.
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Dec 8, 2017 10:47
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I CANNOT EJACULATE WITHOUT SEEING NATIVE AMERICANS BRUTALISED!
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What are the best examples of businesses running perfectly well with good PR, and then they kill their golden goose in the belief of a better profit margin, and then they lose all goodwill and ironically end up out of pocket.
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Dec 8, 2017 10:52
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Inspector Gesicht posted:What are the best examples of businesses running perfectly well with good PR, and then they kill their golden goose in the belief of a better profit margin, and then they lose all goodwill and ironically end up out of pocket. Recent example that comes to mind is Konami with Metal Gear and pachinko, though I'm not sure how drastic the fallout of that was in practice.
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Dec 8, 2017 11:27
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Gazpacho posted:
This diagram gets quoted a lot. Is there any empirical basis to it, or is it just "here's how I reckon bubbles work"?
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Dec 8, 2017 11:51
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outlier posted:This diagram gets quoted a lot. Is there any empirical basis to it, or is it just "here's how I reckon bubbles work"? If you're looking for strong empirical foundation then I'm afraid economics is not the field you were hoping for. Also, that graph gets quoted a lot because that's in broad strokes how almost every speculatory bubble in the last 200 years has manifested. Now while correlation does not imply causation I think the ship has sailed on where bitcoin is falling on the precedent side... 
MiddleOne fucked around with this message at 12:01 on Dec 8, 2017 |
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Dec 8, 2017 11:55
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Inspector Gesicht posted:What are the best examples of businesses running perfectly well with good PR, and then they kill their golden goose in the belief of a better profit margin, and then they lose all goodwill and ironically end up out of pocket. Well Patreon just pissed off a lot of people, so we'll see if they do an about face or live with a number of people unsubscribing.
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Dec 8, 2017 12:44
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outlier posted:This diagram gets quoted a lot. Is there any empirical basis to it, or is it just "here's how I reckon bubbles work"? Benoit Mandelbrot wrote some stuff about the mathematics of financial markets.
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Dec 8, 2017 12:54
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Cmon guys. At least you could take delivery of a tulip.
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Dec 8, 2017 15:57
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outlier posted:This diagram gets quoted a lot. Is there any empirical basis to it, or is it just "here's how I reckon bubbles work"? it's a diagram showing the stages of a typical bubble, not a model or anything the empirical basis would just be analyzing past bubbles and identifying common stages
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Dec 8, 2017 17:43
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boner confessor posted:it's a diagram showing the stages of a typical bubble, not a model or anything That is a model, what do you think models are?
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Dec 8, 2017 18:06
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i mean, not a model that generates output or anything. a static model
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Dec 8, 2017 18:08
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You're correct about that particular diagram. But one can generate dynamic outputs from some static diagrams. This is probably a derail nobody but me cares about so I'm going to stop.
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Dec 8, 2017 18:24
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Tuxedo Gin posted:Doesn't one group control more than 50% of the bitcoin mining power? Meaning they can gently caress with the sanctity of the blockchain if they don't like how things are going for them? I doubt anyone who has bitcoin actually cares about blockchain technology.
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Dec 8, 2017 18:25
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Inspector Gesicht posted:What are the best examples of businesses running perfectly well with good PR, and then they kill their golden goose in the belief of a better profit margin, and then they lose all goodwill and ironically end up out of pocket.
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Dec 8, 2017 19:10
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At this point does it just make sense to take whatever Bitmillions you have and just, like, withdraw $500 a day or something? Nno one's going to get away with taking their dragon's horde of digital bits and pumping them straight into a Scrooge McDuck moneybin, but can't they at least get some funds out of that?
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Dec 8, 2017 19:14
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shorting bitcoin reminds me of the documentary betting on zero. dude takes a short position on herbalife since it's 1000 percent a pyramid scheme and logically should get crushed but it never happens and to this day herbalife is still trucking along. how patreon is loving up: https://gizmodo.com/why-everyone-is-mad-at-patreon-now-1821120304 they're changing how they charge patrons which costs the patron more (so when you pledge a buck they charge you a buck and change). so people are canceling their donations in droves. their most recent round of vc funding pegged their value at 450 million (they only bring in 8 million a year lmao). i just found out their founder is the guy from that absolutely poo poo band pomplamoose (who famously somehow lost money on a tour after crowdfunding 100k). https://www.youtube.com/watch?v=oIr8-f2OWhs Groovelord Neato fucked around with this message at 19:47 on Dec 8, 2017 |
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Dec 8, 2017 19:32
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I was in bitcoin a while ago for pretty much the only 1-year period where it didn't go up. Lost most of them to a hack, lost the rest trying to short the market.
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Dec 8, 2017 19:39
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GrandpaPants posted:Well Patreon just pissed off a lot of people, so we'll see if they do an about face or live with a number of people unsubscribing. Tell me more, please- save me from the btctide.
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Dec 8, 2017 19:45
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Discendo Vox posted:Tell me more, please- save me from the btctide. They are now charging 35 cents per pledge/donation, so people who have a ton of 1$ Patrons immediately lose almost 30% of their revenue.
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Dec 8, 2017 19:49
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Not knowing much about it, wonder how much of people dropping pledges is from "gently caress the new fee structure" and how much is from people reading about Patreon fees and thinking "oh yeah, patreon, I should cancel that pledge for that podcast I never listen to anymore" or whatever.
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Dec 8, 2017 19:52
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Aramis posted:They are now charging 35 cents per pledge/donation, so people who have a ton of 1$ Patrons immediately lose almost 30% of their revenue. they're charging 35 cents on top so the creator gets a full dollar, the fee used to come out of the creator's cut. people are canceling because all those dollar pledges became $1.35. i love how all this vc funding is just a pump and dump scheme.
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Dec 8, 2017 19:54
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Some actual numbers: https://twitter.com/wombatoverlord/status/938849760198447104 https://twitter.com/Burrito_Tim/status/938943641791401986
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Dec 8, 2017 20:04
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Like, why? Patreon is actually a decent thing to come out of the SV bubble: it's way to pay content creators for what they make independently of where they make it and has allowed a bunch of stuff to be funded that wouldn't be.
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Dec 8, 2017 20:18
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nothing to seehere posted:Like, why? Patreon is actually a decent thing to come out of the SV bubble: it's way to pay content creators for what they make independently of where they make it and has allowed a bunch of stuff to be funded that wouldn't be.
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Dec 8, 2017 20:27
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