Thread Rating:

PokerGrinder
PokerGrinder
Joined: Apr 30, 2015
  • Threads: 22
  • Posts: 4103
May 6th, 2021 at 4:55:45 PM permalink
Quote: AxelWolf

And if I would have not tried haggling down $10 more back when I was offered 17 BTC for $710 and it was going for $720. Obviously, I would not have held them all, but no doubt, I would have kept at least 7. Or, I would have lost my 24 words and been really pissed off.


That is why you’re a fish sir 😂
You can shear a sheep a hundred times, but you can skin it only once. — Amarillo Slim Preston
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
  • Threads: 212
  • Posts: 8277
May 6th, 2021 at 4:59:36 PM permalink
Quote: EvenBob

I would get that when I sold antiques and collectibles. I would set up at an antique show and then go around shopping the day before the show opened and I would find really good buys sometimes where the dealer had the item underpriced because he didn't know what he had. So I would pay 50 bucks and sell it for 200 the next day. It sometimes struck me as to where did that $150 profit come from. It made me realize right in my face that money is just a made-up concept, it does not exist outside of our heads. It's quite scary when you look at it that way.

Ha lol, without it we would all be going around saying, " I got these cheese burgers man!"
Follow me: https://www.heavensgate.com/
billryan
billryan
Joined: Nov 2, 2009
  • Threads: 182
  • Posts: 10939
May 6th, 2021 at 5:23:51 PM permalink
The $150 comes from your experience and expertise in the field that results in you being able to exploit market inefficiencies.
odiousgambit
odiousgambit
Joined: Nov 9, 2009
  • Threads: 310
  • Posts: 8564
May 7th, 2021 at 3:46:23 AM permalink
Believe it or not, I got distracted by this 14000% business and started wondering about what you do with that. If you want to look such an increase do you multiply the starting price times 14000%? [140]. I think basically it is virtually correct to do so, and everybody does that of course. But something bothered me about that: 

If we say something went up 100% we mean it doubled in price, a sum you don't get by multiplying an original figure times 100% ... that just is multiplying times one. So it means multiplying by 140 is not really correct, nor is taking the current figure and dividing by 140 to get the starting figure. You use 141 as far as I can tell and it strikes me that this is seldom noted. 

A shortcut to getting the figure for increasing something by 11% , say, is to multiply it times 1.11, something that can be shown with algebra no doubt, but is just something I am quite familiar with. It's basically multiplying by 1+0.11, and this works with a 100% increase too as 1+100% is in fact 2. 

It comes down to whether you want the convenience of multiplying and dividing by a single figure I guess. To say that Dogecoin went up 14000% is to say it is an *increase* of that %. To say it is 14000% times its original value is a different matter, which may actually be what was meant. You can say it makes an unimportant difference in most cases, but it was enough to make me wonder 'if I was doing it right.' 

x=starting price
[1+140]*x = 0.62 .... dogecoin being 62 cents this morn
x= 0.62/141 = 0.0043971631205674 


so I'm getting a starting price of about 4.4 tenths of a cent, however, the 14000% claim may no longer be reflected correctly at 62 cents


If we use 140, it's 0.4428571428571429 so the one is not far off from the other


the problem with the algebra is it assumes that 1+i, where i is the increase, is correct, and I don't know that I have proved that. 


the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
lilredrooster
lilredrooster
Joined: May 8, 2015
  • Threads: 177
  • Posts: 3700
Thanks for this post from:
odiousgambit
May 7th, 2021 at 5:18:28 AM permalink
...............

I agree that it's more complicated than it first seems

if you want to find out what the figure is if 100 is increased by 50% you multiply 100 times 1.50 and you will get 150

so, it would seem if you wanted to find out what the figure is if 100 is increased by 14,000% that you would multiply 100 times 1.14000 - but when I did that the answer I got was 114 - and that couldn't be right

so then I multiplied 100 times 150% and got 150 which is correct

so then I multiplied 100 times 114,000% and got 114,000 - and I think that is correct

but that is the total after the 14,000% increase

to get how much it actually increased you would subtract 100 from 114,000 and 113,900

just as if you wanted to figure out the increase if 100 increased by 50% you would subtract 100 from 150 to get 50

I think this is correct, but to be honest I'm not 100% sure

I'm sure one of the mathletes here will correct me if I'm wrong





*
Last edited by: lilredrooster on May 7, 2021
𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘰𝘯𝘭𝘺 𝘩𝘢𝘭𝘧 𝘰𝘧 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘴𝘦𝘦 𝘢𝘯𝘥 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘩𝘦𝘢𝘳.........𝖤𝖽𝗀𝖺𝗋 𝖠𝗅𝗅𝖺𝗇 𝖯𝗈𝖾
odiousgambit
odiousgambit
Joined: Nov 9, 2009
  • Threads: 310
  • Posts: 8564
May 7th, 2021 at 6:59:41 AM permalink
Quote: lilredrooster

...............

I agree that it's more complicated than it first seems

if you want to find out what the figure is if 100 is increased by 50% you multiply 100 times 1.50 and you will get 150

so, it would seem if you wanted to find out what the figure is if 100 is increased by 14,000% that you would multiply 100 times 1.14000 - but when I did that the answer I got was 114 - and that couldn't be right

so then I multiplied 100 times 150% and got 150 which is correct

so then I multiplied 100 times 114,000% and got 114,000 - and I think that is correct

but that is the total after the 14,000% increase

to get how much it actually increased you would subtract 100 from 114,000 and 113,900

just as if you wanted to figure out the increase if 100 increased by 50% you would subtract 100 from 150 to get 50

I think this is correct, but to be honest I'm not 100% sure

I'm sure one of the mathletes here will correct me if I'm wrong





*

well I concluded it is not 1+ 0.140 = 1.14 but literally 140+1 = 141, in other words when you are talking an increase like 150% you want to be thinking 1+increase ... but with 14000% the 1+ is less important and people can and do skip it
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
RahulBrown
RahulBrown
Joined: Dec 27, 2019
  • Threads: 0
  • Posts: 5
May 7th, 2021 at 7:00:30 AM permalink
oh yeah, I certainly never believed in the success of that crypt, but dogeсoin is cool
lilredrooster
lilredrooster
Joined: May 8, 2015
  • Threads: 177
  • Posts: 3700
May 8th, 2021 at 4:10:28 PM permalink
.......................

Elon Musk is hosting Saturday Night Live tonight - it's a very big deal

he has promoted Crypto and specifically Dogecoin which he has said he likes because he likes jokes

there is speculation that Dogecoin will again spurt up because he will mention it or Crypto in general (which he likes) on the show tonight





https://finance.yahoo.com/news/dogecoin-spotlight-cryptocurrency-backer-musk-233701058.html




let's see - right now at 7:26 est the price is .643776




*
Last edited by: lilredrooster on May 8, 2021
𝘣𝘦𝘭𝘪𝘦𝘷𝘦 𝘰𝘯𝘭𝘺 𝘩𝘢𝘭𝘧 𝘰𝘧 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶 𝘴𝘦𝘦 𝘢𝘯𝘥 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶 𝘩𝘦𝘢𝘳.........𝖤𝖽𝗀𝖺𝗋 𝖠𝗅𝗅𝖺𝗇 𝖯𝗈𝖾
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
  • Threads: 212
  • Posts: 8277
May 8th, 2021 at 4:20:46 PM permalink
I'm thinking I'm going to be in trouble. He will announce Tesla spent 3 billion on DOGE at 5c.
Follow me: https://www.heavensgate.com/
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
  • Threads: 212
  • Posts: 8277
May 8th, 2021 at 9:22:20 PM permalink
Doge coin now worth 2 wizcoins. That's going to be fun what happens next.
Follow me: https://www.heavensgate.com/

  • Jump to: