The Dollar has been Untrustworthy for a while now, I have been converting dollars to Bitcoin for 4 years, what you should do if you like charting, is examine the distribution of Bitcoin. vs Value also Examine the Arbitrage between US and Foreign markets, The other thing you may have to do is chart events, and that's something I'm interested in you examining in other charts, How do Particular events that change the direction of a chart based on good and bad news. (recently things have been turning around on their head when good news makes a stock drop and bad news completely sends it into space, it just doesn't seem logical )
When people talk about bitcoin compared to US dollars , what you should also examine is how often do you hold physical cash instead of a electronic wallet (aka a magnet strip card ) ; There is zero difference between your cell phone having a Bitcoin or other coins wallet, and holding a Debit Card, Also there is an option for having a paper wallet denominated in a particular value . as long as you have a recent copy of the block chain you could validate the value of that paper wallet, you could then accept that as par value. ( you wouldn't have to be online per say ) . As you say its based upon full faith and trust of monetary value. as many Americans that full faith and trust is in god . " Its written all over ". but can you trust the central banks, most people are starting to at least turnaround and start to question the supreme almightiness of the fed and other central banks as nothing more that a ruse.
The one thing you must remember is that unlike many companies that trade on such markets like the NYSE etc, that bitcoin has a constant news cycle, that reports something new every 15 mins , which company has that? Not even Apple has company news every 15 minutes of every day 24 hours around the clock, with multiple dedicated news streams about the stock.
Anyway thanks for the posts and videos, there's always something to learn.
Your comment about the 24hr BTC news cycle is a valid one. On top of that, I would add that no advertising dollars are spent by the BTC holders to get this news coverage/advertising. Holders of the coin benefit regardless of who is creating the news about it, unlike a corporation that must dedicate a healthy sum to an advertising/marketing/damage control (eg. Monsanto) budget every year.
Hi, a really interesting analysis.
I have recently purchased a variety of cryptos and cannot believe how fast they have risen. So i guess whether we believe in the technology or future of these "currencies"there is still money to be made by them. Certainly living in interesting times.
In my opinion, Bitcoin is more useful than gold, as a transfer of value. Each Bitcoin is guaranteed to be real, whereas gold must be tested and weighed first. Bitcoin is easier to secure, and avoid seizure. You can actually store an unlimited amount in your brain. Try to grab that at a border crossing, or airport.
Gold has a proven history, but currently suffers from a paper market manipulation. Gold is so hard to move around in a market or in real life, that people throughout history decided to trade it for paper willingly. What good is gold if no one (%wise) actually wants to go through the trouble of looking after it?
Yeah Im not against the idea, I just dont see how its better than fiat currencies. Only gold and silver are money technically but saying that gold and silver prices change so if you have a half ounce silver coin in your pocket and try buy something but the value keeps changing and its 'true' value is
$400 .......my point is if the dollar is going down in value then why is bitcoins value not going down with it?
The Dollar has been Untrustworthy for a while now, I have been converting dollars to Bitcoin for 4 years, what you should do if you like charting, is examine the distribution of Bitcoin. vs Value also Examine the Arbitrage between US and Foreign markets, The other thing you may have to do is chart events, and that's something I'm interested in you examining in other charts, How do Particular events that change the direction of a chart based on good and bad news. (recently things have been turning around on their head when good news makes a stock drop and bad news completely sends it into space, it just doesn't seem logical )
When people talk about bitcoin compared to US dollars , what you should also examine is how often do you hold physical cash instead of a electronic wallet (aka a magnet strip card ) ; There is zero difference between your cell phone having a Bitcoin or other coins wallet, and holding a Debit Card, Also there is an option for having a paper wallet denominated in a particular value . as long as you have a recent copy of the block chain you could validate the value of that paper wallet, you could then accept that as par value. ( you wouldn't have to be online per say ) . As you say its based upon full faith and trust of monetary value. as many Americans that full faith and trust is in god . " Its written all over ". but can you trust the central banks, most people are starting to at least turnaround and start to question the supreme almightiness of the fed and other central banks as nothing more that a ruse.
The one thing you must remember is that unlike many companies that trade on such markets like the NYSE etc, that bitcoin has a constant news cycle, that reports something new every 15 mins , which company has that? Not even Apple has company news every 15 minutes of every day 24 hours around the clock, with multiple dedicated news streams about the stock.
Anyway thanks for the posts and videos, there's always something to learn.
Your comment about the 24hr BTC news cycle is a valid one. On top of that, I would add that no advertising dollars are spent by the BTC holders to get this news coverage/advertising. Holders of the coin benefit regardless of who is creating the news about it, unlike a corporation that must dedicate a healthy sum to an advertising/marketing/damage control (eg. Monsanto) budget every year.
THANKS @themaestro, hoping for a biggggg move too!
Hi, a really interesting analysis.
I have recently purchased a variety of cryptos and cannot believe how fast they have risen. So i guess whether we believe in the technology or future of these "currencies"there is still money to be made by them. Certainly living in interesting times.
In my opinion, Bitcoin is more useful than gold, as a transfer of value. Each Bitcoin is guaranteed to be real, whereas gold must be tested and weighed first. Bitcoin is easier to secure, and avoid seizure. You can actually store an unlimited amount in your brain. Try to grab that at a border crossing, or airport.
Gold has a proven history, but currently suffers from a paper market manipulation. Gold is so hard to move around in a market or in real life, that people throughout history decided to trade it for paper willingly. What good is gold if no one (%wise) actually wants to go through the trouble of looking after it?
We are getting close to the top I think, but not at it yet.
https://steemit.com/bitcoin/@tornadojoe/the-bitcoin-must-go-on
Yeah Im not against the idea, I just dont see how its better than fiat currencies. Only gold and silver are money technically but saying that gold and silver prices change so if you have a half ounce silver coin in your pocket and try buy something but the value keeps changing and its 'true' value is
$400 .......my point is if the dollar is going down in value then why is bitcoins value not going down with it?