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Bitcoin & cyptocurrencies
- Thread starter zhihau
- Start date
Whoever did the diagram has little understanding of commerce. Merchant class that evolved centuries across were arguably the world's first commercial entity. They sought excess production from a farmer and sold it to someone who could not grow enough. Merchants themselves do not create any content, goods, service etc. They stand between seller and buyer. Its a model that has stood the test of time across all races and across borders
Gold and silver eventually became acceptable currency with no bank or govt involved and made the jump from barter trade.
Good businessman whether small or big prefer doing deals and have no intention to touch goods and services. If they can make more money by adding value such as handling warehousing, logistics etc, they will mark it up.
Those in the diagram are disrupters who have changed the way buyers and sellers meet.
Gold and silver eventually became acceptable currency with no bank or govt involved and made the jump from barter trade.
Good businessman whether small or big prefer doing deals and have no intention to touch goods and services. If they can make more money by adding value such as handling warehousing, logistics etc, they will mark it up.
Those in the diagram are disrupters who have changed the way buyers and sellers meet.
There actually is not any bitcoin spot market. A real market is one that truly reflects market buy and sell sentiments; but the only quotes come from exchanges which are run in shady manners.
If you take the SGX stock quotes you could trusts them in general. About the forex markets, they too are generally reliable as they are too big to manipulate and have diversified OTC players; no so with the bitcoin exchanges.
The only people who could predict the direction of bitcoin are the owners of the exchanges, the miners and conspirators involved in the scam of bitcoin. It may be the whales taking a final profit. A well known billionaire said in Nov he bought huge amount of bitcoins at the $5000 support. It may be time to go down to that level again.
Chan Rasjid.
If you take the SGX stock quotes you could trusts them in general. About the forex markets, they too are generally reliable as they are too big to manipulate and have diversified OTC players; no so with the bitcoin exchanges.
The only people who could predict the direction of bitcoin are the owners of the exchanges, the miners and conspirators involved in the scam of bitcoin. It may be the whales taking a final profit. A well known billionaire said in Nov he bought huge amount of bitcoins at the $5000 support. It may be time to go down to that level again.
Chan Rasjid.
may go below $12k after christmas. it's too volatile. hopefully few sinkies buy high sell low. :p
"Then the workers of our city must not only make enough for home consumption; they must also produce goods of the number and kind required by other people?"
"Yes, they must"
"Then our city will need more farmers, and more of all the other craftsmen?"
"Yes"
"And among the rest it will need more agents who are to import and export the different kinds of goods. These are merchant, are they not?""
"Yes"
"We shall need merchants, then?"
"Certainly"
"And if the commerce is over sea, we shall need a host of others who are expert in sea-trading"
"Yes, there will be many of them"
"Again, in the city itself how will men exchange the produce of their labours with one another? For this was the original reason of our establishing the principle of community and founding a city"
"Clearly, by selling and buying"
"This will give us a market-place, and money as a token for the sake of exchange"
"Certainly"
"Then if the farmer or any other craftsman brings his produce into the market-place, and meets there none who wish to exchange their goods with him, is he to sit idle in the market-place when he might be working?"
"Certainly not. There are men who have taken note of this,and devote themselves to this service. In well-governed cities they are usually those who are weakest in body, and incapable of any other work. They have to stay there in the market-place and exchange money for goods with those who want to sell, and goods for money with those who want to buy"
"Yes, they must"
"Then our city will need more farmers, and more of all the other craftsmen?"
"Yes"
"And among the rest it will need more agents who are to import and export the different kinds of goods. These are merchant, are they not?""
"Yes"
"We shall need merchants, then?"
"Certainly"
"And if the commerce is over sea, we shall need a host of others who are expert in sea-trading"
"Yes, there will be many of them"
"Again, in the city itself how will men exchange the produce of their labours with one another? For this was the original reason of our establishing the principle of community and founding a city"
"Clearly, by selling and buying"
"This will give us a market-place, and money as a token for the sake of exchange"
"Certainly"
"Then if the farmer or any other craftsman brings his produce into the market-place, and meets there none who wish to exchange their goods with him, is he to sit idle in the market-place when he might be working?"
"Certainly not. There are men who have taken note of this,and devote themselves to this service. In well-governed cities they are usually those who are weakest in body, and incapable of any other work. They have to stay there in the market-place and exchange money for goods with those who want to sell, and goods for money with those who want to buy"
One piece of very interesting info on bitcoin. I did some googling months earlier and posted it somewhere.
The total world bitcoin transaction volume by BTC numbers throughout 2016 was very high. Nearly 95% of the volume disappeared all of a sudden; it was even before the China crackdown on ICO in 2017. So the current world total BTC volume was only 5% that of 2016. The meaning of this should be the Chinese should be holding the largest amount of bitcoins in the world. It was obvious then that the many Chinese were buying into bitcoin then.
If the Chinese now could sell and take profit, bitcoin may crash.
Chan Rasjid.
The total world bitcoin transaction volume by BTC numbers throughout 2016 was very high. Nearly 95% of the volume disappeared all of a sudden; it was even before the China crackdown on ICO in 2017. So the current world total BTC volume was only 5% that of 2016. The meaning of this should be the Chinese should be holding the largest amount of bitcoins in the world. It was obvious then that the many Chinese were buying into bitcoin then.
If the Chinese now could sell and take profit, bitcoin may crash.
Chan Rasjid.
.
The only major Wall Street strategist to formally cover bitcoin raised his price target on the digital currency the day of a massive price rout. "We are buyers of bitcoin on this pullback," Fundstrat co-founder Tom Lee said in a Friday note. "The intrinsic/fundamental value of bitcoin has risen in the past month given the surge of new wallets and hence, explains the rise in our short-term target price." Lee increased his mid-2018 price target on bitcoin to $20,000 from $11,500 based on higher user volume. That implies a 37 percent rise from bitcoin's price on Coinbase of roughly $14,600 Friday afternoon. Bitcoin had plunged to a low of $10,400 in the morning, down 47 percent from a record high above $19,800 reached Sunday.
CopiSoh
From what I understand, the SMRT Feedback chaps have acquired some S$400K in some form of crowd-funding for investment. I wish them all the best and to huat big time.
as of now dropped 25.69% down to 10,140.
my uncle say he already know all these long ago. he say he only buy things at low price things that stupid people don't need anymore.
Your uncle is garang uni man! What a joke! Lol !
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