Where will Bitcoin be on 9/4/2018?

Quote: Wizard

I've posted about this before but it was an imaginary $300 billion that disappeared. So nothing really disappeared because all Cyrpto currencies are based on nothing, literally. It would be like me declaring the $15,140 in play money in my Monopoly set was worth face value in US dollars, auctioning it on Ebay and getting $1, and declaring $15139 as wealth that disappeared.

Who sets the value of BC, Moody's? With it acting very similar to currency in Japan, which I believe will accept BC in payment of taxes, how does a BC exchange work if no one is taking the don't side of the trade, like stocks?

http://fortune.com/2017/09/12/switzerland-chiasso-bitcoin-tax-zug/ I wonder if it isn't some giant money laundering system? If the say the Fed were to get enough billions worth of crypto's in circulation, and then declare them illegal, they could wash quite a lot of loot, that has been sloshing around from QE.

I read somewhere, somebody is wanting to start trading a crypto ETF?
http://strategiccoin.com/cnbcs-brian-kelly-launch-suite-cryptocurrency-etfs/

GAME'S UP? Panicky Bitcoin Investors Struggle to Withdraw Cash From Money Exchanges

"Bitcoin owners are flocking to invest in gold amid fears the cryptocurrency may collapse. Concerned investors have since taken to social media to complain they fear losing anything from a few thousand dollars to their entire "life savings".

BC is trying to get under $10K today, some people
have all their money invested in this nothing burger?
Some of you will say you're happy because you bought
in at $2000. But there are a crapload who bought at
above $14K and they're the ones driving the collapse.

Quote: Evenbob

GAME'S UP? Panicky Bitcoin Investors Struggle to Withdraw Cash From Money Exchanges

"Bitcoin owners are flocking to invest in gold amid fears the cryptocurrency may collapse. Concerned investors have since taken to social media to complain they fear losing anything from a few thousand dollars to their entire "life savings".

I read something like 60% of BC purchases were made with a visa card.

That must make their sphincter tighten up, when the the price is collapsing when their cc is at 13%.

Quote: petroglyph

That must make their sphincter tighten up, when the the price is collapsing when their cc is at 13%.

Many look back at Charles Ponsi
and wonder how people a hundred
years ago could be so naive, thinking
they could make huge profits on tiny
investments. Never underestimate the
power of greed..

Holy crap! An hour ago BC was $10580 and
now, an hour later it fell over $500! Amazing.

"The latest bitcoin bear is Peter Boockvar, chief investment officer at Bleakley Advisory Group, who said bitcoin prices could fall by as much as 90%, wiping out most of the 2017 gains. "When something goes parabolic like this, it typically ends up to where the parabola began," Boockvar told CNBC Monday. "I wouldn't be surprised if over the next year it's down to $1,000 to $3,000."

This makes total sense.. A parabola is a U
shaped curve that that ends on the same
plane where it began.

The Winklevoss Twins Have Lost Nearly $1 Billion in the Bitcoin Meltdown

"Think you’ve taken a bath in the Bitcoin’s recent plunge in value? Be glad you’re not Tyler and Cameron Winklevoss. They have seen the value of their cryptocurrency holdings fall by $922 million in the past month."

Boo Hoo. Douchebags..

Quote: Evenbob

A parabola is a U
shaped curve that that ends on the same
plane where it began.

I think you know that a parabola goes on infinitely, so it has no ends, but I see your point. Another interesting thing about parabolas that most don't know is that all parabolas are similar. You can magnify them, shift them, and rotate them, but they are really all the same shape in terms of the basic form, like circles.

Quote: Evenbob

The Winklevoss Twins Have Lost Nearly $1 Billion in the Bitcoin Meltdown

"Think you’ve taken a bath in the Bitcoin’s recent plunge in value? Be glad you’re not Tyler and Cameron Winklevoss. They have seen the value of their cryptocurrency holdings fall by $922 million in the past month."

Statistics like this I think are kind of worthless without knowing how much wealth outside of Bitcoin the Winklevoss Twins have. If their total wealth dropped from $20 billion to $19 billion over this, I won't shed any tears for them.

Quote: Wizard

Statistics like this I think are kind of worthless without knowing how much wealth outside of Bitcoin the Winklevoss Twins have. If their total wealth dropped from $20 billion to $19 billion over this, I won't shed any tears for them.

But is their BC wealth real wealth, or is it just
billions in Monopoly money. If they tried to
spend $50 mil of it at once, it would hugely
effect the value of it.

A good example is the Gutenburg Bible. I
believe one hasn't been on the market
in 40 years. Only 21 complete ones are
known to exist, with a value each of $25-$35
mil. If one were to come on the market
it could fetch $50mil. But if 10 came on the
market at once, the price for each would
plummet. That's because they are like
Bitcoins, not currency but collectibles.

Quote: Wizard

Another interesting thing about parabolas that most don't know is that all parabolas are similar. You can magnify them, shift them, and rotate them, but they are really all the same shape in terms of the basic form, like circles.

I think that the realization that circles, ellipses,parabolas, and hyperbolas are all basically conic sections is a big help in understanding Isaac Newton's realization that (1) a parabola is the shape of the path of a baseball thrown under influence by gravity, and (2) the shape of the orbit of a satellite under influence of gravity is an ellipse.



https://www.nap.edu/jhp/oneuniverse/motion_48-49.html