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161  Economy / Speculation / Re: Does anyone think the price is unsustainable? Only bears please and seriousness. on: November 27, 2013, 06:51:56 AM
How do you think people will feel if and when they have dozens/hundreds/thousands of near-worthless BTC which they *could* have sold for nearly $1000? Or for $10,000 (if it rises that high)? They will be shattered, many probably suicidal.

When BTC collapses it will do so quickly and countless online millionaires will suddenly be online bums. This will not be easy for them to take.

I disagree. I'm not quite a BTC millionaire yet, but I'm getting there. I am however at the point where I'd be upset if it permanately crashed.

However I don't see it as being "money" until you've sold it and have $ in your hand. Or Bitcoin becomes a currency (despite what some people will try to claim, it's nothing but an investment now).

It's just paper losses. My life will not be affected if Bitcoin crashes. I'll just be back to the same boring guy I was before I ever bought Bitcoin.
162  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 26, 2013, 11:02:15 AM
On a serious note..are people actually hedging in to LTC enough so that it has raised it 3-4 dollars over the past weekend of consolidation in btc.



I haven't been following it that closely (I only have 50 LTC) but I thought a whale bought 300k coins the other day and the price has just sat around the same price ever since.

Edit: Wow, $14 now. Last I checked it was $12.
163  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 25, 2013, 11:33:30 AM
Its Monday.

So, where are all these new buyers with fresh deposits?

I'm waiting as well.....there's been a lot of big talk about today going to 4 figures....

I'm becoming very bearish all of a sudden. And it's pretty much time to go to sleep here. Decisions...
164  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 24, 2013, 02:13:17 AM
Where are all the bulls? Get in quick before $800 is a thing of the past.

nah...want cheap coins, I'm a buyer at 450

That feels like an eternity ago. But it was only one week since they were that price.
165  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 24, 2013, 02:06:51 AM
Where are all the bulls? Get in quick before $800 is a thing of the past.
166  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 24, 2013, 01:58:18 AM
This is just one person, right? Not sure if I'm reading the charts correctly.
167  Bitcoin / Bitcoin Discussion / Link between DPR and Satoshi on: November 23, 2013, 11:49:39 PM
Just stumbled across this article:

http://bits.blogs.nytimes.com/2013/11/23/study-suggests-link-between-dread-pirate-roberts-and-satoshi-nakamoto/

Apparently one of Satoshi's early wallets transferred 1,000 BTC to DPR's wallet.

Does anyone have a link to said transaction? Thoughts?
168  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 23, 2013, 09:40:15 PM
I feel bad for whomever that is

Really? I don't. Serves them right.

Should've just been happy with their 2k coins instead of getting greedy.
169  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 23, 2013, 09:22:25 AM
watching mtgox say no to the drops and the bears frown again

Bears need to give up and go home.
170  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 23, 2013, 02:27:05 AM
Im scared to buy in because we are a little bit over on the log chart expected value regression line.  We are also entering the weekend but that hasn't mattered very much lately.  Ive missed the most recent train a few times but i still want to hop aboard.   Any thoughts from you guys?

IMO the log chart is going to become less relevant/correct over time. Logarithmic growth was true back when Bitcoin was just getting natural growth through word of mouth. Big news like Richard Branson, or the US Senate, or whatever comes next, can and will push it above log.
171  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 23, 2013, 01:34:31 AM
$1,000 by morning?

AUD$1000 within the next hour :p
172  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 22, 2013, 11:41:37 PM
I think the $1000 wall is going to be a letdown for the bears. There will be resistance and some small corrections, but for the most part I can see us getting through it fine.

Everyone stressed out about hitting $266 again a few weeks ago and look how far we've come since.
173  Economy / Speculation / Re: Will Gold and Silver lose all its speculative value to Bitcoin? on: November 22, 2013, 12:31:17 PM
None of it has anything to do with Bitcoin.

I never claimed that it does. Bitcoin hasn't even made a dent in any markets yet.

Gold has been becoming less desirable for a long time. The Australian Government sold the majority of their gold about 15 years ago. I believe other governments around the world have been doing the same.
174  Economy / Speculation / Re: Will Gold and Silver lose all its speculative value to Bitcoin? on: November 22, 2013, 12:23:29 PM
If you take the store of value element away from either, it will have a serious impact, except Bitcoin would be worthless and gold can still be used in the tangible world, as I said, to make jewelry, Donald Trump's condo, provide conductive elements inside electronic devices and can still act as a medium of exchange.  All Bitcoin has is it's ability to store value.  Without that, it's nothing.

Why would you want to make jewellry out of gold if gold were worthless? People make gold jewellry so they can wear their wealth. To show off how rich they are. "Look at me, I have a massive gold necklace!"

If gold had a value of zero and nobody wanted it, you might as well make a ring out of plastic instead. What's the difference?

Using gold as a conductive element or a base metal for designing anything, will always have some value.  And its rarity will remain more valuable, than the next more common elements.  Thus it's impossible for gold to have zero value or all other more common elements, would have to have a negative value.  

Truth is, gold won't be of zero value unless someone mines an asteroid and floods the market, making it as common as beach sand.  This has been true for thousands of years.  So speaking on something that is not based in either today's or histories reality, is really pointless.



But those are nothing compared to all the gold in the world. Yes, gold will never be worth ZERO, but it can be worth a tiny amount. The current price of gold has absolutely nothing to do with either of those things. It's entirely to do with the mentality that gold is valuable because it's gold.

The market doesn't need to be flooded with supply for the value to fall, demand just needs to drop. And this is exactly what's been happening for the last year or so.
175  Economy / Speculation / Re: Will Gold and Silver lose all its speculative value to Bitcoin? on: November 22, 2013, 12:15:31 PM
If you take the store of value element away from either, it will have a serious impact, except Bitcoin would be worthless and gold can still be used in the tangible world, as I said, to make jewelry, Donald Trump's condo, provide conductive elements inside electronic devices and can still act as a medium of exchange.  All Bitcoin has is it's ability to store value.  Without that, it's nothing.

Why would you want to make jewellry out of gold if gold were worthless? People make gold jewellry so they can wear their wealth. To show off how rich they are. "Look at me, I have a massive gold necklace!"

If gold had a value of zero and nobody wanted it, you might as well make a ring out of plastic instead. What's the difference?
176  Economy / Speculation / Re: Will Gold and Silver lose all its speculative value to Bitcoin? on: November 22, 2013, 11:38:25 AM
I hate the whole "no intrinsic value" argument that people try to use.

Dollars have no intrinsic value. Gold and silver have practically no intrinsic value. Diamonds have no intrinsic value. What can you actually use a diamond for, other than to attach to a piece of jewellry, or tiny uses in industry (cutting tools, etc)?

I remember seeing a wankfest thread on one of the gold forums where they were trying to argue that gold is better than Bitcoin because it doesn't oxidise. Uhh... Did I miss something? That's really one of gold's selling points?

The sorts of things that really do have intrinsic value also have a low value. Water, food, a car, air conditioning. These are valuable because they're useful and important to have. But yet none of them appreciate in value. You buy it, consume it, then throw it away when it's no longer useful.

I see no reason why crypto currency can't entirely replace gold as a store of wealth one day. I don't think it will happen in my life time - but one day it will.
177  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 22, 2013, 07:53:05 AM
Looking healthy. These little drops would have caused chaos back in the day but their swatted like flys now!

I don't even care anymore when I see bear traps on the chart. I just come back in 30 minutes and see it right back up where it was before.
178  Economy / Speculation / Re: How many btc do you have? on: November 22, 2013, 07:10:38 AM
It's not too smart to list how many coins you have on a public thread, especially when you have a huge amount like 30.

A lot of people will feel you have too many and they don't have enough. Next time set up a poll which people can anonymously respond to.


30 is considered huge? I wouldn't consider someone to be seriously invested in Bitcoin if they had any less than that.
179  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 21, 2013, 09:53:53 AM
One thing that I have to say when reading this "bitcoin online bar" is that if you have a lot of bitcoins it surely doesn't mean that you would know something more about trading than those who have fewer.

Couldn't agree more. Someone with lots of BTC claiming that they "know the market" better than anyone else just screams arrogance.

Was the guy last month who found out he had $880k worth a master of Bitcoin?
180  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 20, 2013, 07:58:03 PM
Currency of the future. My payment of xx:18 still has 0 confirmations at xx:51. Sorry I could not dump you sooner, my coins

lulz i've been paying zero tx fees.. and getting my coins 6/6 in about an hr..from when I send them, I dunno why it got defaulted.. to 0.0 but it did and I've corrected this.

Doesn't it depend on how many BTC you're transferring? I find that large transactions go through straight away with no fee, but smaller transactions require fees (and higher fees depending on how small).
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