Maybe instead of talking about how much a "single" bitcoin is fluctuating, we should be talking about how much the smallest transferable unit is fluctuating. Or maybe how much $1 USD is worth in bitcoin.
The reports I see do exactly this. Not always in the headlines, but in the stories they talk about the percentage change in value. That percentage is the same whether you're talking about 1,000 bitcoins, 1 bitcoin, or $1 worth of bitcoin.
"Bitcoin has established itself as a viable medium of exchange."
It has? That's news to me.
To me, it's far too unstable to be a viable medium of exchange. Its value in fiat currency is far from immaterial as long as we live in a system where you have to convert it to and from fiat currency to make it more than marginally useful.
It has only one use that I can see: "speculative investing" a/k/a gambling.
The math is irrelevant to my point. My point is that Bitcoin does not produce anything of tangible value at all. The only value it has is the value that people collectively agree that it has. If everyone agreed tomorrow that it has no worth, then it is completely without worth. Scarcity doesn't enter into it.
In this respect, it is no different than fiat money.
This is different from things with an inherent value. Gold, for instance, has a value regardless of people's attitudes about it because it has many practical and essential uses. The value it trades at may be inflated, but it nonetheless it has a value intrinsic to it that doesn't depend on everyone agreeing to treat it as if it has value.
The problem is that no exponential growth can be maintained indefinitely. And the higher up that curve things are, the sooner the correction will come.
Unless you have a very high risk tolerance (by which I mean that you could afford to lose the money), I would say that your investor gave you very good advice.
Bitcoin has achieved something I've always wanted to see in the stock mkt - a reverse 1987 (20% gain in a single day)
Ben Carlson is either nuts or only cares about the short-term gain of his own stock holdings. In terms of the big economic picture, nobody should want to see a 20% gain in the stock market in a single day.
Bitcoin has no intrinsic value whatsoever, so I don't see how it can be considered "real". It only has value because people are collectively deciding it does. In that respect, it's no different than printed money.
Why? What's there to be jealous about? Speculation in bitcoin is no different than any other high-risk speculation. You might make a million, but you might also (and almost certainly will, if you don't get out at the right time) lose your shirt.
I'm no more jealous of people who've made real money from bitcoin than I am of someone who won big at the casino. I'm happy for them, and I'm also happy that I didn't take the same risk.
Why do all these people think that everyone wants to spy on them?
Because of all the effort that companies are putting into spying on everyone. I don't think I'm special, I think they want to spy on us all.
So as an individual your particular data is such a small piece of the data that it just gets easily lost?
I think that argument is demonstrably false. If it were true, the targeted advertising wouldn't be a thing.
Personally, my main concern isn't the actual transmission of miniscule data points about me. It's the fact that all of those little, individually meaningless data points are correlated in massive databases to end up with a shockingly complete, and totally invasive picture.
However, there's nothing that can be done about Big Data. All I can do is try to eliminate, to the best of my ability, the data being added to it.
Realize also that as a matter of principle it doesn't even matter if that data is ever used for anything nefarious. If I am to be anything remotely resembling a free person, then I should have the right to decide who gets what data about me.
No, it wasn't. The first one actively made me angry at the amount of suck it brought. The second was at least as bad, but I was ready for it. I haven't watched any since then. There's no point.
Slashdot Mirror
Maybe instead of talking about how much a "single" bitcoin is fluctuating, we should be talking about how much the smallest transferable unit is fluctuating. Or maybe how much $1 USD is worth in bitcoin.
The reports I see do exactly this. Not always in the headlines, but in the stories they talk about the percentage change in value. That percentage is the same whether you're talking about 1,000 bitcoins, 1 bitcoin, or $1 worth of bitcoin.
"Bitcoin has established itself as a viable medium of exchange."
It has? That's news to me.
To me, it's far too unstable to be a viable medium of exchange. Its value in fiat currency is far from immaterial as long as we live in a system where you have to convert it to and from fiat currency to make it more than marginally useful.
It has only one use that I can see: "speculative investing" a/k/a gambling.
Ummm... so what? How does any of that speak to whether or not the tulip analogy is apt?
Also, I hear more and more stories about regular people borrowing to buy bitcoin.
Buying bitcoin if you can afford to take a loss isn't stupid.
Borrowing to buy bitcoin (if you can't pay off the loan immediately with other resources) isn't just stupid. It's insanely stupid.
The math is irrelevant to my point. My point is that Bitcoin does not produce anything of tangible value at all. The only value it has is the value that people collectively agree that it has. If everyone agreed tomorrow that it has no worth, then it is completely without worth. Scarcity doesn't enter into it.
In this respect, it is no different than fiat money.
This is different from things with an inherent value. Gold, for instance, has a value regardless of people's attitudes about it because it has many practical and essential uses. The value it trades at may be inflated, but it nonetheless it has a value intrinsic to it that doesn't depend on everyone agreeing to treat it as if it has value.
Really? Of all of the problems with Google search, this is the one that would make you stop using it?
Why?? Do people really want this? I am genuinely surprised that this is a thing.
The problem is that no exponential growth can be maintained indefinitely. And the higher up that curve things are, the sooner the correction will come.
Unless you have a very high risk tolerance (by which I mean that you could afford to lose the money), I would say that your investor gave you very good advice.
Ben Carlson is either nuts or only cares about the short-term gain of his own stock holdings. In terms of the big economic picture, nobody should want to see a 20% gain in the stock market in a single day.
Huh? In what way?
Bitcoin has no intrinsic value whatsoever, so I don't see how it can be considered "real". It only has value because people are collectively deciding it does. In that respect, it's no different than printed money.
Of course I'm jealous
Why? What's there to be jealous about? Speculation in bitcoin is no different than any other high-risk speculation. You might make a million, but you might also (and almost certainly will, if you don't get out at the right time) lose your shirt.
I'm no more jealous of people who've made real money from bitcoin than I am of someone who won big at the casino. I'm happy for them, and I'm also happy that I didn't take the same risk.
It's not a scam, it has no head, it's decentralized.
I agree it's not a scam (although whether or not something is a scam has nothing to do with whether or not it's decentralized).
It's pretty much just straight-up gambling.
Why do all these people think that everyone wants to spy on them?
Because of all the effort that companies are putting into spying on everyone. I don't think I'm special, I think they want to spy on us all.
So as an individual your particular data is such a small piece of the data that it just gets easily lost?
I think that argument is demonstrably false. If it were true, the targeted advertising wouldn't be a thing.
Personally, my main concern isn't the actual transmission of miniscule data points about me. It's the fact that all of those little, individually meaningless data points are correlated in massive databases to end up with a shockingly complete, and totally invasive picture.
However, there's nothing that can be done about Big Data. All I can do is try to eliminate, to the best of my ability, the data being added to it.
Realize also that as a matter of principle it doesn't even matter if that data is ever used for anything nefarious. If I am to be anything remotely resembling a free person, then I should have the right to decide who gets what data about me.
Studies consistently indicate that most people in the US hate their jobs, but stay with them anyway.
This is true, but it's a pain to determine which is which. And there are so many older games that are new to me, I'm pretty happy sticking with those.
I think that you care because you went to the effort to reply to my comment.
And lacking a sense a sense of ethics.
Except nowadays, commercial video games need the Internet
Technically, they don't need the internet. They just force you to connect to their server because they want that sweet, sweet data.
This evil trend of requiring games to be online when there's no good reason for it is what pushed me out of the gaming world.
I don't use Chrome apps, and I won't use "progressive web apps", either.
The first JJ Trek was decent
No, it wasn't. The first one actively made me angry at the amount of suck it brought. The second was at least as bad, but I was ready for it. I haven't watched any since then. There's no point.
That's what The Best of Both Worlds was, and you loved it.
I loved it? I think that your mind-reading machine is on the fritz.
JJ Treks are good movies, but terrible Star Trek.
A million times this. Abrams is precisely the wrong person to be making Star Trek movies. I find them aggressively objectionable.
If, however, you took the same movies and didn't connect them to Star Trek, then they'd by OK. Not great, but fine.
One could easily say that Windows is better for development because Linux doesn't handle Windows app store development.
Wha? Who in the world cares about Windows app store development?
Running Windows 10?
No. Just No.