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Old 12-06-2013, 12:11 PM   #1
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Lack of Confidence in World Currencies


Many of you already know that I have been following Bitcoin as a beginner amateur. Here is a screen shot I took after half an hour of showing currencies being changed into Bitcoin at the exchanges late this morning (US ET). I presume thios is more "action" than normal, but multiplying out those numbers would show $450,000,000 daily being changed from world currencies into Bitcoin... And that is just people changing Bitcoin (BTC) at the exchanges, this does NOT include "mining" BTC or spending them.

People are running away... And I will let you know if a neophyte like me can change BTC into gold soon. Bubble it may be, but this is worth watching.

My math: (10,240 BTC * 2 half hours per hour) * (24 hours) * $925 / BTC = approx. $450,000,000 per day


This 30 minute interval may NOT be representative of those through a whole day. But, the picture is still instructive.


Last edited by DoChenRollingBearing; 12-06-2013 at 12:21 PM. Reason: checking my arithmetic... not representative either...?
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Old 12-07-2013, 01:56 AM   #2
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Unfortunately, your link takes me to a Google login page, and I have no interest of being tied directly to the Google monster.
If you keep doing what you are doing, You will keep getting what you are getting.
If you don't like what you are getting, You must change what you are doing.

GOLD is the money of KINGS.
SILVER is the money of GENTLEMEN.
BARTER is the money of PEASANTS.
DEBT is the money of SLAVES.
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Old 12-07-2013, 03:03 PM   #3
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BTC will ultimately go the same way as Bernard Von Nothaus, after the government declares it to be counterfeiting.
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All things being equal, the simplest answer is quite often the correct answer - Occam
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Old 12-08-2013, 08:24 PM   #4
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Ahh, indeed my link is no good, a lot of computer stuff I am not good at.

I do not know enough about Bitcoin to state truthfully its strengths and weaknesses. But, I am looking into it because there is utility there if it works as I hope.

For example, soon (I hope to put the deal together tomorrow) I hope to buy some gold with BTC...


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