>> (p.1)
    Author Topic: Everything looks fine on the logarithmic charts  (Read 5938 times)

    • DamienBlack (OP)
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    July 04, 2011, 11:05:59 PM
     #1
    I would just like to point out to all the doom and gloomers, that everything looks just fine on the log charts (which you should be using)

  • Quantus
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    July 04, 2011, 11:10:39 PM
     #2
    what is this?
    (I am a 1MB block supporter who thinks all users should be using Full-Node clients)
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  • DamienBlack (OP)
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    July 04, 2011, 11:11:51 PM
     #3
    Quote from: Quantus on July 04, 2011, 11:10:39 PM
    what is this?

    This is the price of bitcoins over the last 12 months on a logarithmic scale.

  • dinzy
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    July 04, 2011, 11:20:47 PM
     #4
    Looking at this, I would wait a couple of months before buying again at ~ 5 bucks. 

  • BTC Economist
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    July 04, 2011, 11:21:09 PM
     #5
    Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.
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  • DamienBlack (OP)
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    July 04, 2011, 11:22:25 PM
     #6
    Quote from: BTC Economist on July 04, 2011, 11:21:09 PM
    Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

    Yes, I admit a downward trend. It just isn't "the end of bitcoin" like some people are griping about.

  • imperi
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    July 04, 2011, 11:27:41 PM
     #7
    If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins. Cheesy

    edit:

    More like 2 or 3%.

  • GeniuSxBoY
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    July 04, 2011, 11:29:52 PM
     #8
    Quote
    If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins.


    If it ever gets to 0.05...no one thinks they're worth a nickle to have. You'll have a bunch of bitcoins that nobody wants anymore.
    Be humble!

  • Quantus
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    July 04, 2011, 11:35:16 PM
     #9
    oh I had to educate myself about logarithmic charts. (Used in earthquakes and solar flares or any thing that uses a large number variances.) like our horribly unstable bitcoins.
    I still don't understand how to read this chart though. how is this different from some thing like a Moving average? only a 9th grade education sorry  Tongue
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  • Jack of Diamonds
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    July 04, 2011, 11:37:33 PM
     #10
    Quote from: GeniuSxBoY on July 04, 2011, 11:29:52 PM
    Quote
    If it goes to 0.05, I'll buy like 1/10 of all the Bitcoins.


    If it ever gets to 0.05...no one thinks they're worth a nickle to have. You'll have a bunch of bitcoins that nobody wants anymore.

    I'd take the gamble with a hundred bucks.
    If you win, you practically got 2,000 bitcoins free and their value is $20-$50 years down the road. If you lose, you're out the price of 2 video games, a few bar nights, or what-have-you.

    Since they always have *some* function as an instrument of value, I'd hold on to them. Doesn't matter if it's temporarily $15, $3, $0.01 or $250.
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  • BTC Economist
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    July 04, 2011, 11:38:12 PM
     #11
    Quote from: Quantus on July 04, 2011, 11:35:16 PM
    oh I had to educate myself about logarithmic charts. (Used in earthquakes and solar flares or any thing that uses a large number variances.) like our horribly unstable bitcoins.
    I still don't understand how to read this chart though. how is this different from some thing like a Moving average? only a 9th grade education sorry  Tongue



    The idea is that a jump from 5 to 10 should be seen the same as a jump from 10 to 20.  In both cases you double your money.  What's important is the % change not the absolute value in change.  Logs show percentage changes.
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  • Quantus
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    July 04, 2011, 11:39:25 PM
     #12
    o i fucking get thank you
    (I am a 1MB block supporter who thinks all users should be using Full-Node clients)
    Avoid the XT shills, they only want to destroy bitcoin, their hubris and greed will destroy us.
    Know your adversary https://www.youtube.com/watch?v=BKorP55Aqvg

  • aral
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    July 04, 2011, 11:43:05 PM
     #13
    Quote from: BTC Economist on July 04, 2011, 11:21:09 PM
    Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

    Hey 'economist' it's only deflationary in the long term.  Right now it's highly inflationary.  The supply of bitcoins is increasing as miners discover new blocks and the only reason it is holding its value at all is the expansion of the bitcoin economy. 

  • BTC Economist
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    July 04, 2011, 11:48:06 PM
     #14
    Quote from: aral on July 04, 2011, 11:43:05 PM
    Quote from: BTC Economist on July 04, 2011, 11:21:09 PM
    Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

    Hey 'economist' it's only deflationary in the long term.  Right now it's highly inflationary.  The supply of bitcoins is increasing as miners discover new blocks and the only reason it is holding its value at all is the expansion of the bitcoin economy.  

    Wrong.  It's not even holding its value as you say.  It's declining.
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  • myrkul
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    July 04, 2011, 11:58:50 PM
     #15
    There's always a slight dip right before the jump.

    Back up to $30?

    I think so.
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  • imperi
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    July 05, 2011, 12:02:09 AM
     #16


    I think there's a decent possibility of this happening.

  • TraderTimm
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    July 05, 2011, 12:04:38 AM
     #17
    Quote from: BTC Economist on July 04, 2011, 11:48:06 PM

    Wrong.  It's not even holding its value as you say.  It's declining.

    Hey now, the human brain can rebound from many things. Don't sell yourself short.
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  • Bitcoin Swami
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    July 05, 2011, 12:06:25 AM
     #18
    Quote from: imperi on July 05, 2011, 12:02:09 AM


    I think there's a decent possibility of this happening.

    is that a cup and handle? Still learning my chart lingo.. very interesting

  • imperi
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    July 05, 2011, 12:07:52 AM
     #19
    Quote from: mayabong on July 05, 2011, 12:06:25 AM
    Quote from: imperi on July 05, 2011, 12:02:09 AM


    I think there's a decent possibility of this happening.

    is that a cup and handle? Still learning my chart lingo.. very interesting

    Indeed, it is. I learned about this type of graph somewhat recently from one of BitcoinChannel's videos.

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    July 05, 2011, 12:16:57 AM
     #20
    I personally prefer the -1 chart
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