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1901  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 23, 2014, 05:09:11 PM
2014 is one entire bear trap.  We will witness in December a spike that dwarfs the last one to just a tiny bump on the charts.
1902  Economy / Speculation / Re: BREAKING: Current Bitcoin Status in China: LEGAL AND NOT BANNED on: April 23, 2014, 11:47:21 AM
Still not banned
1903  Economy / Speculation / Re: RE : Wall Observer on: April 23, 2014, 11:45:00 AM

 Is there any evidence to the belief that expansions in the bitcoin ecosystem, services & economy actually increase the price..??

 Seriously, merchants don't need to keep 'reserves' of 'BTC change' in their 'digital money registers' like stores do w/ fiat. They aren't interested in speculating in BTC future price rises either. They're in fact wary of it - they just want the extra potential sales & rep from bitcoiners. That's why they use services like BitPay. Payment re-processors such as BPay also are not interested in hoarding or buying crypto. They just facilitate things by accepting a cryptopayment from end users, dumping it at market (or pretty fast in any case), giving the merchant their proceeds in fiat & keeping their cut in fiat.

 Those customers, the end-users of all these crypto-friendly merchants & services. THEY are the ones implyingly expected to cause higher prices, by buying moar BTC now that they can shop at a greater variety of places w/ it. But who are the vast majority of cryptocustomers..?? ..BITCOINERS. Enthusiasts. Folks who -already- had their stash & don't mind spending out a little of it here & there. Whatever extra BTC they may buy to shop with will be compensated by what they spend - given that the merchants & payment processors will be dumping the BTC thusly received as payment.

 So why in the WORLD is there this MYTH continuing about merchant adoption, growing ecosystem = higher price? Wtf? What am I missing..?
More places to spend Bitcoin = More useful = Higher demand = Higher price
1904  Bitcoin / Bitcoin Discussion / Transaction fee too high? on: April 23, 2014, 11:32:17 AM
If we really want micropayments to work with bitcoin, the transaction fee has to be lower.

It would be amazing to see bitcoin being used to pay $0.01 to read an online article that used to behind a subscription-based paywall.

But even with bitcoin, the fees are too high.  Can they be reduced before mass adoption is achieved to avoid a chicken and egg problem?
1905  Bitcoin / Bitcoin Discussion / Re: Which Bitcoin Client do you use and why ? on: April 23, 2014, 11:28:20 AM
I just carry the Bitcoin without a wallet
1906  Economy / Speculation / Re: Is it just me or is anyone else tired of watching this constant no change bs on: April 22, 2014, 11:20:18 AM
Stability is a sign of a strong currency.   Roll Eyes
1907  Economy / Speculation / Re: What will happen tomorrow? Tuesday 22 April. First bankday after easter on: April 22, 2014, 11:15:28 AM
Nothing "happened". I am surprised to be honest. Thought there would be a bit of action upwards or whatever but seems to be just as dull as any sunday thats passed..

It usually is a bad sign when volume is that low on a Tuesday.
$400 here you come Weeeeeee..
Yes 'usually'.  But this Tuesday is unusual because many people are still occupied with Easter.
1908  Bitcoin / Bitcoin Discussion / Re: A reason to use Bitcoin I have never heard anyone talk about! on: April 22, 2014, 11:13:24 AM
Bitcoin is great to strip clubs

See this for more info:
http://www.reddit.com/r/AskReddit/comments/15iq2r/strip_club_employees_how_dirty_in_terms_of/c7mvtyn
"I worked in strip clubs (cocktail server, bartender, waitress) for +/- 15 years, and I would claim to have "seen it all".

The clubs that I have worked in have been quite diligent with the cleaning process. Mirrors were cleaned all the time, the bar was cleaned after-hours by a cleaning crew (secondary to us servers doing a "sweep" after the "ugly lights" come on) and the bathrooms are always cleaned throughout the evenings and of course, after hours.

That being said, the couches in the private areas are scary. As staff, we never sat on them. Customers are known to be messy and yes, there are likely to be bodily fluids being exchanged or "wiped" on the couches. Many men would go into the bathroom prior to getting a lap dance and put on a condom inside of their pants so that if they B'd an L, it would be less messy for cleanup. That certainly isn't to say that we didn't find our share of discarded condoms on the floor near the couches after hours. Full contact is actually illegal here, but it was never a surprise to see a girl, naked, grinding away on a customer's lap.

The first club that I worked in had roughly 10 girls that were brought to work from a different country. They would get up onto the counters and urinate into the sinks. We never knew why. Obviously, that was moreso in the staff/dancer bathrooms, not the ones intended for public. Regardless, it was disgusting to think that we staff were to wash our hands there and then handle drinks.

Don't put your money where your mouth is. Especially in strip clubs. We washed our hands often and had sanitizing liquid at our bar and stations to cleanse our hands that had touched money that had come into contact with vaginas or mouths. I was always shocked at how many customers were willing to put money into their mouth and lay back on the stage to have it snatched off by a dancer's labia while she was doing the splits.

The tops of the toilet tanks often have powdery residue on them. Obviously from dancers/patrons (male or female) doing lines of coke. Some bar managers used to spray the toilet tops with Pam or wipe them with oil... T'was good for a laugh.

Dancers would often spray down the poles before they would go on stage for their shows. It increases their grip, keeps their hands clean from when Mercedes or Destinee was just on stage with the pole riding suggestively up and down their asscrack, and it also serves to get men's attention before she starts her show.

The clubs truly are a crime scene specialist's dream. Body fluids of every type available at every turn. I never understood why the clubs were carpeted and the couches were upholstered in porous materials.

Oh, and the black lights are installed for aesthetics. They hide stretch marks and cellulite. It's just a side-bonus that they also seem to bring out the semen stains in pants and tshirts.
TL;DR Strip clubs are filthy."
1909  Economy / Speculation / Re: What will happen tomorrow? Tuesday 22 April. First bankday after easter on: April 21, 2014, 02:21:13 PM
>$600
1910  Economy / Economics / Re: Does anyone else feel like Bitcoin is a safe investment? on: April 21, 2014, 11:30:46 AM
It is a safer investment than investing in Microsoft. Digital currency is the future.

Too much of an exaggeration? Microsoft would have been a risky investment 20 years ago, not now. With so many products on their basket, including the hugely popular Windows, it will be outright lunacy to call Microsoft risky. Also, during the 2009-14 period, Microsoft has given around 120% return on the investment, in addition to annual dividend yield of around 2.8%.
But Warren Buffet does not invest in Microsoft so it must be risky...
1911  Bitcoin / Bitcoin Discussion / Re: Which Bitcoin Client do you use and why ? on: April 21, 2014, 11:27:45 AM
as i see it's not an easy task to choose an optimal bitcoin client
Its a bit overwhelming at first.  But think of like choosing a real life wallet.  Except you are comparing technical qualities instead of cosmetic qualities.
1912  Economy / Economics / Re: What happens to the price if mass acceptance is not achieved? on: April 21, 2014, 11:24:51 AM
Bitcoin is half a decade old. Stagnant development has led to a permanent "beta" stage, to give off the impression this is a new technology. Why are people still believing in mass acceptance?

And no don't start with the internet taking 20 years argument. The internet itself has sped up proliferation of something new by a factor of 100.

The fact is most people have absolutely no need for bitcoin. People like a physical money they can touch. You know why nerd? Because we still live in a physical world. Not everyone is plugged into a virtual utopia 24/7. At least not anyone with any money in the first place.  Bank notes have not vanished as all the pundits have claimed, demand for physical money has never been higher(further evidence by precious metals).

Buying a bitcoin requires what? Palm prints, ID scans to shady exchanges, days waiting for shitty services like Coinbase....

Bitcoin's utility demand comes from those who have no choice BUT to accept it because no better alternatives exist. ie. cybercrime, certain gambling services, forum scams.

The rest is speculative demand. Coming from poor wage earners buying crypto instead of lottery tickets, wall street types who love watching something swell in value from no work.

The userbase is also stagnant. Take coinmap, rate of new business's adding bitcoin has collapsed since December.
If you take the average per day transactions of 60k~, and do a few simple estimations that is roughly anywhere from 500-15,000 unique users. Tiny.

Contrary to the shills, bitcoin does not liberate anyone or anything. Users are under the whim of miners who extract a huge fee for "security". Any large scale bitcoin based economy would simply not work, as producers would face a persistent chronic shortage of money. Never ending cycles of hyper deflation(value explosion) followed by hyper inflation(value collapse) would persist, as large holders and miners dictate the market.

The bitcoin ecosystem will also suffer from perpetual scams and thefts. Why? Because for the introvert's ripping people off behind computer screens is much easier then doing it to them face to face. Also, from what we have seen there are very few consequences in robbing people online. This is a huge turn off to any mass useage.
If you are that negative about Bitcoin, why are you on these forums?
1913  Economy / Speculation / Re: Little birdie !! on: April 21, 2014, 08:21:05 AM
I have spoken with an investor in Nigeria.  He is going to be pushing the price up beyond $1k.  As soon as I send him my wallet details and private keys, the price is going to sky rocket.  Brace yourselves people.
1914  Economy / Digital goods / [WTS] Amazon Gift Card Codes on: April 21, 2014, 07:19:25 AM
10$ and 50$ to be sold.

I did not realize that these cannot be used for amazon.co.uk  Cry

Selling at bitstamp/USD price on date of purchase + 5% discount
1915  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 20, 2014, 02:30:40 PM
If there is one take away from this easter it is that the bears have lost.
1916  Economy / Speculation / Re: Current Bitcoin Status in China: LEGAL AND NOT BANNED on: April 19, 2014, 05:29:26 PM
The headline has to start with "BREAKING: ", for greater effect.
Corrected  Grin
1917  Economy / Speculation / Re: Current Bitcoin Status in China: LEGAL AND NOT BANNED on: April 19, 2014, 05:00:45 PM
Still not banned
1918  Economy / Speculation / Re: Mt. Gox's final impact on BTC... on: April 19, 2014, 04:58:00 PM
Even if the coins are sold to private buyers off-exchange, the price is still going down. There's going to be a lot more supply than demand and the people buying gox's coins won't need to be buying any from exchanges for a long time. Not to mention the negativity in the media when people with money on gox find out they're getting zilch. This isn't like the early days when large bitcoin heists could be shrugged off and soon forgotten.
Bad publicity from Mt Gox has been priced-in since January  Roll Eyes

Also, the price will only go down short-term. There will be no long-term downtrend from more supply, look at Dogecoin for example
1919  Bitcoin / Bitcoin Discussion / Re: What major events would have to occur for... on: April 18, 2014, 11:21:10 AM
6.5billion cap ($500 a coin) is statistically saying that every person in the world as put $1 towards bitcoin

or

0.1% of the world has put just one months wage into bitcoin $1000

i prefer the use of the 0.1% only investing $1000 each

now imagine that either 0.2% adopted bitcoin with only a month of salary. laving their multiple thousands of savings as fiat.. then btc will easily rise.

or that the same 0.1% decided to put in $2000 each.

or. if you like maths.

if everyone invested just $100 a month (10% of salary) each month. every 10months bitcoin will rise by $500, meaning in 1 year it will be $1500 each. and in 18 months $2000 and in 2 years $2500..

and that is just playing with small numbers. now imagine the big investers throwing thousands at bitcoin each week/month.

the only set back that i can see is miners. many people are sing fiat to buy rigs and then cash out bitcoin to pay back electricity bills. the mining manufacturers are cashing out to pay chip companies and other suppliers and all the employee wages. which means all of this mining power is not to gain bitcoin hoards. but to invst into fiat companies like electronic components and utility companies.

one miners realise that they are not bitcoin investors. but fiat investers.. the equilibrium of people buying bitcoin to hoard will rise and the selling bitcoin to pay fiat bills will shrink


I like your train of thought
1920  Economy / Speculation / Re: Overwhelmed by emotions shown here on: April 18, 2014, 11:14:26 AM
There is nothing immoral about wanting to make money.

Many people here are not simply investing in Bitcoin because they want to make a quick-buck like penny stocks.  Rather, Bitcoin investors help support their investments by building businesses around Bitcoin and raising awareness. 

If you think these forums are bad, don't watch the Wolf of Wall Street.
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