21–30 of 85 posts
Earlier quoted context omitted.
The bitcoin market is worthwhile $6.3B at the current time so its value is not that negligible and might have an economical impact. NB: I'm saying that "it may have" not that "it has".
Not massively useful, but interested me enough to look it up: $6.3B is more than the market cap of 40 companies in the FTSE 100
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Why? Highly misleading if you don't know what you're looking at, and of dubious value for prices of most things even if you do.
A log scale plot shows fluctuations of equal percentage with equal visual size, so it is particularly useful in the case of bitcoin, where you may be interested in comparing price swings at $100 levels and $1 levels. Eg. A log scale plot shows a $1 to $2 increase as the same vertical hight as a $100 to $200 increase. In a linear scale plot, all you notice is the $100 to $200 increase and the $1 to $2 swing looks like…
Earlier quoted context omitted.
The bitcoin market is worthwhile $6.3B at the current time so its value is not that negligible and might have an economical impact. NB: I'm saying that "it may have" not that "it has".
Not massively useful, but interested me enough to look it up: $6.3B is more than the market cap of 40 companies in the FTSE 100
Look at the ~10 companies on the NASDAQ between ~6bn and ~6.5bn -- I've only ever even heard of one (Flextronics), much less seen NYT articles about them. (Use Google stock screener, I can't seem to generate a link to the screen.)
This is pretty much a cheap and default comment, but I would be so happy if everybody ( especially websites calling themselves the "DealBook") would start plotting prices on a logarithmic scale.
Currency exchange rates aren't supposed to need a logarithmic scale. That would be a visual equivalent of burying the lede.
This isn't the end of it either. In a month or two, 475 dollars will look nice.
> In a month or two, 475 dollars will look nice. Based on what? Serious question. When people say this about stocks they are either: 1) pulling it out of their ass.. 2) They have done some quantitative analysis, based on some sort of CFA teachings. I'm assuming you are in camp 1 here. Not that there is anything wrong with a "gut feeling", I"m just not going to invest based on it:) As a question to anyone, what sort o…
If you use this calculator[1] you can see that if your 50GH/s array spends 300w which you had to pay for, you are burning about $0.48/day at the current price, assuming all of that from before. This is not top-of-the-line, but it is some relatively modern ASIC equipment from BFL. Previous generation miners, 5 and 10GH/s "Jalapenos" from the 65nm fab. They are supposedly rolling out 28nm "Monarch" now which are at least 10x as powerful and certainly more than just marginally better at power efficiency.
If you look at this chart[2] you can see an estimate of the next difficulty and adjust your calculations for next week, it becomes pretty clear that more people are turning on their Gigahashes than turning them off, even if that was only marginally the case two weeks ago. You have to imagine those people are mostly those with newer equipment.
I don't have a graph of price overlaid with difficulty, but it can't be too hard to find one. A few months ago it was possible to scale them and demonstrate a relatively good fit where price and difficulty were roughly correlated, but since difficulty shows no signs of falling yet, I suspect that fit is not so good anymore.
[1]: http://www.bitcoinx.com/profit/ [2]: https://bitcoinwisdom.com/bitcoin/difficulty
Earlier quoted context omitted.
Why? Highly misleading if you don't know what you're looking at, and of dubious value for prices of most things even if you do.
A log scale plot shows fluctuations of equal percentage with equal visual size, so it is particularly useful in the case of bitcoin, where you may be interested in comparing price swings at $100 levels and $1 levels. Eg. A log scale plot shows a $1 to $2 increase as the same vertical hight as a $100 to $200 increase. In a linear scale plot, all you notice is the $100 to $200 increase and the $1 to $2 swing looks like…
Earlier quoted context omitted.
Currency exchange rates aren't supposed to need a logarithmic scale. That would be a visual equivalent of burying the lede.
Logarithmic scale makes sense for everyone. If you buy at X dollars and has 100% return when the price is 2X it does not matter what X actually is. Logarithmic scale reflects relative changes which is the only interesting metric for investors. If Bitcoin was traded at $98 12 months ago and now trades at $480, it shows relative change of 400% while the prices themselves do not tell you much.
Earlier quoted context omitted.
Logarithmic scale makes sense for everyone. If you buy at X dollars and has 100% return when the price is 2X it does not matter what X actually is. Logarithmic scale reflects relative changes which is the only interesting metric for investors. If Bitcoin was traded at $98 12 months ago and now trades at $480, it shows relative change of 400% while the prices themselves do not tell you much.
If bitcoin can go from $98 to $480 in twelve months, that's a glowing sign to merchants saying "BITCOIN TOO VOLATILE TO USE". Investors are not the only audience. I want that big, scary, spiky graph.