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minorman

minorman
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  • Breaking Down Bitcoin's Price [View article]
    Good to see more level-headed discussion of bitcoin on SA. Those of us who wrote about it back in the day (2011) got very little attention back then, but now it seems everyone and his uncle has a strong (and typically uninformed) opinion - either positive or not - and writes about it here and everywhere.

    So thanks for a nice, clean piece.
    Dec 8 06:11 PM | 1 Like Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    Yep.

    Another application is for people trapped in one of the 15 countries with +5% inflation.
    http://bloom.bg/18eLkSL
    Do you guys know anyone in Argentina? They "get" the value proposition of Bitcoin instantly!
    Dec 3 11:22 AM | 2 Likes Like |Link to Comment
  • Bitcoin: The Future Of An Illusion [View article]
    " I will not be devoting my life to reading the Bitcoin oeuvre. But I've read enough to have an opinion..."

    -
    Sure, but not a very qualified opinion.

    Peter Shiff (notorious gold bug) thinks that bitcoin is a bubble. Like most readers here, he does not understand the difference between Bitcoin (the protocol) and bitcoin (the currency).
    If you actually want to read a discussion of this I suggest this (if not - Troll away - and let the rest of us enter the 21st century):http://bit.ly/1gBzm7Q
    Dec 3 11:17 AM | Likes Like |Link to Comment
  • Bitcoin Will Fall To $250 By November 30 [View article]
    Tell me - how many times did tulips crash?
    South sea company. Mississippi company. LTCM. Enron.

    Real bubbles burst only once!


    Next time the bitcoin price crashes it will be the sixth time. And Bitcoin (the protocol) won't care. It'll just go on.
    You can't stop a protocol that fills a need in the market. Examples:
    Fax, TCP/IP, FTP, HTTP, HTTPS, Bittorrent, Bitcoin.

    Bitcoin just happens to be the first ever protocol which *also* has a currency component, bitcoin, (lower case "b") - owning bitcion - is like owning "shares" in TCP/IP - not like owning a dot-com company.
    Nov 29 03:56 AM | 1 Like Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    Here is the original white paper that started it all.
    http://bit.ly/Z3LiHA

    If you prefer long things on youtube instead:
    http://bit.ly/1fO8e81
    Nov 29 03:48 AM | Likes Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    Here is the original white paper that started it all.
    http://bit.ly/Z3LiHA

    If you prefer long things on youtube instead:
    http://bit.ly/1fO8e81
    Nov 29 03:47 AM | 1 Like Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    Yup.

    Bitcoin is a *protocol* first and foremost. A protocol for decentralized register of ownership.
    (The fact that the protocol also has a unit of "currency" which confusingly is also called bitcoin is merely a $10 B and counting)-bonus.)

    If you think there is "nothing new" in Bitcoin. Google:
    "Colored coins"
    "Autonomous agents"
    "Namecoin"
    "Smart property"
    "M-of-N transactions and contracts"
    -
    Expect to spend a full day researching each of these topics.
    See you in five days for a discussion of similarities between Bitcoin (the protocol) and tulip bulbs.

    Nov 27 03:54 AM | 4 Likes Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    Depends on where you live. If you are in the US try https://coinbase.com
    or http://bit.ly/Ii8KwD
    Nov 27 03:33 AM | 2 Likes Like |Link to Comment
  • Bitcoin Will Fall To $250 By November 30 [View article]
    "Those running bitcoin ... issue enough ... reasonable price for legitimate use."

    For the sake of keeping a decent S/N ratio I people start by researching before commenting (or writing articles, for that matter).
    Nov 24 04:18 PM | 2 Likes Like |Link to Comment
  • Do Bitcoins Pose A Threat To PayPal, Visa And Mastercard? [View article]
    bitcoins can be subdivided to 1E-8 BTC. This unit, 1/100,000,000 BTC, is known as "a Satoshi".

    In other words there is no problem of finite numbers. One day in the future you might be happy to take a job which pays 700 micro-bitcoins a month or something like that.
    Nov 23 03:24 PM | 1 Like Like |Link to Comment
  • Oil Mega-Firms, U.S. Shale And Energy Industry Trends [View article]
    Correct, but (real) 1P reserves have nothing to do with what BP refers to as "proven" reserves in their annual statistical review of world energy.
    The BP "proven" reservers are the "political" reserves - upon which OPEC bases their quotas - they have nothing to do with what is actually in the ground - and hence nothing to do with 1P reserves.
    Oct 9 06:53 PM | Likes Like |Link to Comment
  • The FBI And The Legitimation Of The Bitcoinverse [View article]
    Quote:
    "Bitcoins are a fad, and they're a fad which will pass, a bit like Beanie Babies. There was no one thing which caused the market in Beanie Babies to implode, it was more that people just moved on to other things. Bitcoin's the same: newer, shinier virtual currencies will arrive, the techno-utopians will latch onto something else, and eventually the people holding bitcoins will understand that if an asset doesn't throw off any cashflow, the only way to make money from it is to sell it at a higher price than you bought it. In other words, bitcoin is the ultimate speculative vehicle, one which you might be able to trade in and out of, but one which has no value at all as a buy-and-hold investment. Which is something to bear in mind when you read the next big Bloomberg article on bitcoins as an asset class."

    -
    You clearly have no clue what bitcoin is. This is like saying "these self-propelled cars are a fad - people will prefer horses" - or "computers are useless for ordinary people"...- or "this internet thing will pass" - or"cell-phones"... - or ...

    The world will always be full of people who fail to see a technological revolution when it is staring them in the face - even when it has grown >1000x in three years - and shows no sign of stopping.
    Oct 3 09:14 AM | 1 Like Like |Link to Comment
  • The Saudi Target Price Band For Brent Crude - Is It About To Break? [View article]
    Good stuff! Thank you SP7 for providing humor on seekingalpha.
    Aug 24 04:50 PM | 3 Likes Like |Link to Comment
  • Can Triumph Over Peak Oil Continue In A Post-Monetary Stimulus World? [View article]
    Clearly the coupling of easy credit and the thight-oil growth in US is very close.

    I find it absolutely amazing how easilly people are fooled into thinking that peak-oil is non-issue when the only really hard indicator - the price of crude - has gone up 400% in ten years!

    Full stop.

    And these people even have the nerve to call the few people who (correctly) warned about peak oil wrong becuase the peak-oilers didn't take a 5x increase in crude price into consideration.

    For perspective on who's typically wrong and right in this fight I encourage everyone to download and read EIAs International Energy Outlook from 2001.
    ftp://ftp.eia.doe.gov/...
    The fun starts at page 25.
    They were predicting a global output 97 mbdp in 2010 and 109 mbdp in 2015 and a crazy 122 mbpd in 2020.
    In the 2010 edition the 2020 output has been down-revised to 92 mbpd.
    That is a down-revision of 30 mbpd or 3 Saudi Arabias (or 20+ North Dakotas) in just nine years.
    Oh yeah - and in 2001 the EIA also predicted a crude price of $20/bbl until 2020 in their reference case - and up tp $28/bbl in their "high oil price" scenario. And that was without a "great recession"!

    Compared with the EIA "reference case", even the most pessimistic peak-oil predictions from 2001 look downright accurate.

    If you want to know what other people (who's results aren't politically motivated) say this is a good starting point:
    http://bit.ly/14dySmE


    Reports of the "death of peak oil" have been greatly exagerated - and we know who stands to gain from media (dis)information.
    Jul 29 09:12 AM | 4 Likes Like |Link to Comment
  • Oil Market Manipulation Reaches Absurd Levels [View article]
    Thank you for a well-informed comment (very rare on SA).

    In the not-so-long run, the *supply* fundamentals for crude are highly bullish - but the *demand* fundamentals are now important. (How many US citizens are now on food stamps again?)

    The 100 $/bbl seems to be where demand destruction (lower-middle class destruction, really) sets in. We'll hover around 100 $/bbl until new demand from Asia has sucked the lower middle class in OEDC dry - this could take a few more years.
    Then we'll move to the next price level. I'm guessing the 170-250 $/bbl range (defined by where demand destruction occurs in the middle class) and so on - all the way down the nasty side of peak oil.
    Market manipulation is noise on top of the big picure here. Bernanke et al. *can't print cheap oil*. This is why the recession (oil crisis) in Europe goes on and on and on. Chronic condition.
    May 22 10:35 AM | 3 Likes Like |Link to Comment
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