Size of wall? Thanks
8k BTC That wall represents 1/6th of all available BTC on MtGox at the moment  |
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HQ, we need some reinforcements! The bulls are too ferocious, we can't hold off this stampede for long!  I wonder how a bear commits market seppuku. |
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So this wall is hanging on fairly well. Maybe it's too soon to be pushing up that high?
Ok, it's finally being bought into by a few people. I expect more will follow soon. Chances are the wall will get pulled if it gets tested to much. |
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Imagine this wall selling via market order, would bring us down to <63 instantly.
And then we'd shoot up past $70 as everyone snaps up cheap coins. I hope he sells it  |
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Their bottle appears in the beginning (it's their bottle isn't it?) and the name "Neft" is written on one of the airplanes of the hangar. Plus, this: It also happens to be a very bold piece of branded content for the Russian vodka company Neft.
I love it when ads are so "hip and cool" that you can't even figure out what it is an ad for. |
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My bids are at 56. Sold once again yesterday. Shit spiked so sharply, was sure I was catching the top. But then it just stayed there  That's why we say buy and hold, buy and hold I suggest you buy in now before it's to late tho |
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Yes, and also .. despite what many will have you believe in this forum.... the market doesn't rise and fall "because of charts". Charts don't help you predict future events that alter Bitcoin fundamentals.
There is a fundamental catalyst for all market changes. That catalyst is not "the charts showed a similar pattern before".
BitPirate is a smart fella |
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Did we ever get video/more info on this Al Gore thing beyond the reddit/twitter reports? Would love to see video.
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Added a shoutbox for all you wallwatching talking heads, if you want to have a live chat:
Jesbus rice, don't you know that some of us were actually going to try to focus on working today?! |
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These zero hedge guys sure are...something.
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i dont really think thats a bubble right now.
but my guess for the biggest dip is 59.78
How do you not see the bubble. Look at any history over 2 months, and it is obvious that we are in a bubble. I don't mean that in any negative way. Any speculative market is susceptible to bubbles, and I think they are natural. Everyone knows we are in a bubble, but that just means the last person out gets burned, and everyone is comfortable playing hot potato until then. i dont call it a bubble because i think that the current price raise if because of changed fundamentals. - many more people scared about fiat than last year - bitcoin has proven itself more - more companies (especially more "normal" ones) i think bitcoin is just leaving the "nerd-area" and more people are recognizing it as a valid investment. I just want to +1 for being on point. If a fork couldn't pop this, ahem, "bubble" then speculators sure as hell won't be able to. |
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When your cleaning lady is telling you to invest in bitcoin, then you know it's time to cash out. No, this would mean it's time to buy because BTC is reaching critical mass. BTC != stocks Anyways, if I come home from work and the price was $600 dollars, I'd cash out momentarily because, I mean, come on. That'd be outlandishly crazy. On the other hand, if it takes a year or so to reach $600 I wouldn't sell. My goal is to have BTC increase so much that I'd have zero reason at all to cashout into USD as I'd be able to just use BTC whenever/where ever/for whatever. |
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Sweet jebus!
Total bids have gone UP since last night to 7.5 mil while total asks have dropped to about 45k BTC.
We're going to keep going up people.
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Yep, but we're probably at the ATH right now-ish.
Suggestion for drinking game: Take a shot every time Proudhon uses the word "probably" |
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Right now, every time it goes down a little, some people insert sell at 68.89, so the wall stay intact We jumped to $68.90 in a handfulof hours, yet you find a reason to use a frowny face still :/ |
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I owed $15 to this girl I am hooking up with, and she was excited to get 0.3 bitcoins instead! She said she was gonna use it to pay for her kids to go to college (mostly jokingly lol) This must mean we are in a bubble ok, that's almost as bad as that investor who, in 1929, was getting his shoes shined and the fricken SHOE SHINE BOY was talking about stocks and such. guy went and pulled his investments immediately. crashed happened the next day or something. i forget who this was. one of the big names. I don't think the analogy works with bitcoin. Our goal has been to push adoption in order to push main stream acceptance and usage. I find it strange that all of a sudden we are trying to act shocked, SHOCKED, that people we talk to about bitcoin continuously start to show interest in bitcoins. People talking about bitcoin is not a sign of a bubble. People being interested in bitcoin is not a sign of a bubble. It's a sign that bitcoin is doing what it is supposed to be doing. My problem with that theory is that much of the recent gains are due to a recent rash of good news. What happens when there is bad news? Granted, the good news is real news, but it's been decidedly pro-Bitcoin for weeks. We are due some bad news, like a major exchange hack. We are, IMHO, beyond a price point that is justifiable with the current size of the actual bitcoin economic activity alone. Hype leads to speculative bubbles. We all know this. What we don't know is how long we can ride it before sentiment turns sour. What happens to the European banking panic when the asinine deposit tax proposal in Cyprus goes down in flames? Or there is a compromise that doesn't spell the worst? The sudden influx of Euro denominated wealth cannot be maintained. Once the pool of risk adverse Europeans (an irony, I know) has all moved the greater part of their deposits into Bitcoin (or gold/silver/whatever) who is going to be left to support the bid wall? Can that bid wall be supported by Argentines and Iranians evading capital controls? I doubt it. That's what Bitcoin is good for, but it doesn't really matter so much what the exchange price actually is if Bitcoin is only being used as a workaround for a bottleneck in the fiat currency system. I really can't imagine worse news happening than the fork, and we made it through just fine. I think that event was actually a fairly unsung hero in the recent rises past $50. It really boosted confidence in the system. The rest of your post comes down to a pretty philosophical difference that we, ultimately, won't be able to answer If the market was 100% speculation, then yea, we'd be in trouble no doubt. BUT the first step of getting people to use bitcoin is getting them to have a bitcoin. If 1,000 speculators buy 1,000 btc each to "make a profit" with there is a chance that a good number of them will actually come across a scenario where using BTC instead of other means is actually beneficial. This will push adoption rates up. Victory. So even if your grandma buys a bitcoin with the initial purpose of flipping it, I would hope you'd explain to her all the other benefits of holding the coin at the same time. Maybe she'll come around. If we get enough Argentines and Iranians to use BTC to get around capital controls or the fiat bottleneck, a lot of them will eventually see the benefit and just use BTC directly. I am also of the opinion that our current price is way, way, way to low and is held low by speculators. Bitcoin is a powerful financial tool in a wide variety of ways and people will continue to realize it in ever growing numbers. |
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Not that I want to be the one to pee in your Cheerios, but you do realize that a lot of people think paying 400% for a TV at a Rent-A-Center is a good deal because it's the only way they can fit a 60" Samsung into their budget without a line of credit. The average Joe Schmoe is just fine paying 150% for a PC upgrade at Best Buy because they don't even know NewEgg exists, let alone how to swap a hard drive or a video card.
I think you're really overestimating the average user.
As the prophet George Carlin once said, "Think of somebody you know that you would consider to be of average intelligence. If that's average, then realize that half the people in America are dumber than that."
Well, I was taking the argument in context of potential bitcoinstore customers and not the world population in general. Yes, people are unbelievably dumb and I know for a fact that many Americans can't tell the difference between a web browser and a rock. I find it quite funny that just after the great mccorvic-Mosper debate there comes several other posters to provide evidence to the case.
What's funny is that I don't even necessarily disagree with his conclusion, just the way he was going about trying to argue it. |
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I owed $15 to this girl I am hooking up with, and she was excited to get 0.3 bitcoins instead! She said she was gonna use it to pay for her kids to go to college (mostly jokingly lol) This must mean we are in a bubble ok, that's almost as bad as that investor who, in 1929, was getting his shoes shined and the fricken SHOE SHINE BOY was talking about stocks and such. guy went and pulled his investments immediately. crashed happened the next day or something. i forget who this was. one of the big names. I don't think the analogy works with bitcoin. Our goal has been to push adoption in order to push main stream acceptance and usage. I find it strange that all of a sudden we are trying to act shocked, SHOCKED, that people we talk to about bitcoin continuously start to show interest in bitcoins. People talking about bitcoin is not a sign of a bubble. People being interested in bitcoin is not a sign of a bubble. It's a sign that bitcoin is doing what it is supposed to be doing. |
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It was through Steve Gibson and Security Now! that I first learned of bitcoin back in early 2011, so I owe them that. But it does seem like Steve has had a shaky grasp of bitcoin in the past. I remember Leo saying that bitcoin was "over" when it got "hacked" in 2011 (in reference to the Mt.Gox hack) and Steve was pretty much like "yup". Also, gweedo is right saying the show is dry as hell. But, if it wasn't for Steve I wouldn't be here |
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Remember a few hours ago when we dipped to $63 all the bears were like Muw-ahahha and all the calves were like oh nooooo.
Those were good times.
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