And how is that any different from what the fed does nowadays?
Q. What is the money supply figures currently? A. Who knows.
What is your prediction for BTC?
- Thread starter Evermore2017
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Q. What is the money supply figures currently? A. Who knows.
How is it different? computers mine bitcoin and we know in advance how much will hit the market.
The Fed creates dollars (and allows the banks to do so) and we don't know how much they will create.
BTC is based on computer code with no counterparty risk (only higher market risk) - unless you hold on an exchange.
Fiat is based on CB policy/whims/elite orders and has counterparty risk - unless you hold physical cash.
BTC has high PIBCAK risk, Fiat not so much.
But I know - your point is that in terms of 'virtualness,' fiat is just as virtual.
AGREED!
@SunTrader ...trying to get your point...but...you have repeatedly compared BTC to USD From the standpoint that since the Fed has had such easy monatary policy for so long the USD has no fund value just like BTC. Where I differ is that you are comparing ECONOMIC POLICY as related to the overall economy to the CHARACTERISTICS of a single "currency" ,BTC.
In my opinion these are 2 different topics.
No I have NOT repeatedly compared BTC to USD.
And I am also NOT comparing economic policy to anything else let alone BTC.
I AM comparing the creation of electronic money.
USD and BTC and any other form of fungible money rely on trust.
You don't trust BTC. Fine, many others do. And that is all that is needed for it to exist.
I guess I mis read your multiple post along the lines of the one above "and how is that different than what the fed does these days".
I trust BTC as a speculative investment vehicle. Think it has a long way to go as a currency in terms of stability, a store of value, and security.
But, you are right in the fact that others do trust it. Each to his own, buyer beware.
Coming off A-Turn into either a B or C trend. Volume and volatility decreasing, anticipate change via Dominant volume arriving. Monitoring the sequences of the current bar doji is early tell of XO of respective RTL by close of bar. Current bar an IB, either exit for profit-taking, set bracket entry above and below previous bar's H and L with offset or continue to hold long. Anticipate reversal of long to short with increasing selling volume. Early entry at doji short XO or wait until penetration of prior bar's low Bookmark. Confirmation is at bar close.
Slow pace = increased risk.
Fast pace = decreased risk.
Current bar approaching resistance level, up to now rising price on increased volume pace. From this point if decreasing volume pace -> anticipate reversal from long to short as RTH of US opens. Otherwise long until VE or FTT of this short term non-Dominant long traverse of short trend pt1 at 9/3 and pt3 at 9/8.
There may be a fixed limit on the number of BTC but there is no limit on the number of cryptocurrencies created. BTC has the brand name advantage but what else? They are growing like weeds.
At one time there were also many shopping websites.