3 ms·

>Bitcoin pricing is on a log scale. Dropping to $36k from $50k is not a concern on this scale. What is that even supposed to mean?

• quickthrowman 5y ago
  The poster you replied to is confused, I think they’re saying they chart Bitcoin with a logarithmic scale, which as we both know has nothing to do with how Bitcoin is priced, only how the price action is displayed on a chart.
• __jem 5y ago
  This has to be one of the funniest financial things I've heard. "Uhhh, you know when your account dropped 50%? Actually that is only like 10% if you pretend it's a log scale." Unfortunately for them, USD is not on a log scale and they'll be disappointed to discover that when they try to cash out.
  • pilingual 5y ago
    I'm not discussing trading here, in which case you would be absolutely right. Trading using a log chart would be absurd. I'm talking about long term positions. Cost averaging over time means you are immune to such a massive swing.
    • ideamotor 5y ago
      You’re talking out of your ass.
    • anyfoo 5y ago
      You just decided that "Bitcoin pricing is on a log scale"? Because it sounds cool to talk about logarithms? What does cost averaging have to do with it?
• imtringued 5y ago
  It means people don't care if it is a store of value because they don't care if their savings are locked up until the next bubble, they can afford to wait because they have savings somewhere else.