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6981  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 02, 2014, 02:00:17 PM
Meh, closed my long position at 644 on plus500.

Enough for today.
You're timing could be bad, we might break $650 today.

I know.. But I have been trading before on "timing" and "speculating". For now it's working out for me trading whilst there is a pump.. and after that a small dump.

Aslong as I hit my goal of $400 a day im happy!
To make $400 daily on a price swing of $10/btc per day, you'd have to be playing with what, like 40 btc on the market?  If you true, you are really brave.  I couldn't risk trading that much.
6982  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 02, 2014, 01:51:48 PM
Meh, closed my long position at 644 on plus500.

Enough for today.
You're timing could be bad, we might break $650 today.
6983  Economy / Speculation / Re: Argentina heading for a repeat of 2001 collapse on: July 02, 2014, 01:47:39 PM
In 10years, a middle class and even low middle class chinese will live like a King in holidays in the States

They already are.  You should see the Chinese students at a local University in my neck of the woods.  It's a fairly prestigious University, and costs a pretty penny to attend.  The tuition has gone up astronomically in the last 15 years.  Even as recently as 6 years ago there were very few non-Caucasians and minorities on campus.  Now it's completely taking over by rich Chinese and Korean kids, driving around in their (paid for) Mercedes, Lexus, and BMWs.  The campus is now unrecognizable, as Caucasians and all the other groups are now the minority there.  You'd think it was a school just for Asians.

The local high-end car dealerships say that they sell about 80% of their cars now to the Asian kids attending this University, and have even started to market directly to them.
6984  Economy / Speculation / Re: Only one winner for the 30k BTC from the auction! on: July 02, 2014, 01:33:57 PM
Venture Capitalist Tim Draper?  The VC that has invested in over 1000 private companies since 1985 (Skype, Hotmail, Tesla, Baidu, etc.)?

But isn't this guy really just a lowly, opportunistic day trader who's going to dump all of his 30K bitcoins on the exchanges the first chance he gets, tanking the current price???

At least that's what all the really smart bitcoiners were telling everyone last week???  I don't understand what's going on???   Huh

6985  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 02, 2014, 02:34:55 AM
Looking like a clever LTC bear trap to me.
6986  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 01, 2014, 11:45:44 PM
What the fuck is going on with LTC on btc-e?

It appears that the number on the chart has decreased dramatically in just a few bars, what could trigger this?!

https://www.youtube.com/watch?v=8wHMaJ6AtNs
Looks like someone fat fingered something.  Or is just stupid.
6987  Economy / Speculation / Re: Are the fucking silk road coins sold ? on: July 01, 2014, 08:48:57 PM
They just transferred the entire amount, 29,656.51306529 BTC:

https://blockchain.info/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3

So either:

1) They are just moving them in order to get ready to pay the winners
2) They just paid the winner, one entity bought them all.

Popcorn time.  Let's see what happens next.

Notice they kept a small amount of change, 2.28533471 BTC. from all the "donations" people have been sending them back for themselves.  

One entity. It's done.
I hope it is also just one person, not a company.  That would be awesome.
6988  Economy / Speculation / Re: Who believes in $10,000 a coin? on: July 01, 2014, 08:11:38 PM
Just use this app to play with some numbers:
http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

Any way you slice it, bitcoin rising to many thousands of dollars per coin is a no brainer.  Even tens of thousands is not at all out of realm of possibility.  It's not a matter of if, it is just a matter of when (think a few years, not decades).
6989  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 01, 2014, 06:16:32 PM
Orthogonal? Facebook wants money for things, like promoting pages, and there are a lot of people that make use of this.


OK, hadn't considered that aspect of Facebook but that's not general public. Not sure what effect.

Just to add to the Facebook discussion, FB has around 1.3B (yes, that's Billion) active users per month.  Many are teens and adolescents, but remember that these teens and adolescents grow up and become adults, get jobs, have/make money, etc.  And their parents and grandparents are on FB now, as well as their friends and co-workers.  Now just imagine seamless bitcoin integration with all that, when sending someone bitcoin is as simple as 1-2 clicks in their FB smartphone or tablet app.  And tipping someone btc in Bits instead of just a "Like" (or maybe integrated with the Like function).

Also, Merchants are already using the Facebook platform to advertise/market to their consumers.  This is where FB makes their billions in revenue.  The next logical step is shopping cart and payment integration.

This could be game changing.
6990  Economy / Speculation / Re: what will price be on August 1? on: July 01, 2014, 04:15:52 PM
Great insight, but you're talking years there... Bitcoin looses 40% in a few days...
....and gains it back a few days or weeks later.  It can also gain 500-600% in one month.  It also averages 8x-10x value year-over-year end.

What else you got smart ass?
6991  Economy / Speculation / Re: what will price be on August 1? on: July 01, 2014, 04:02:10 PM
holders have lost much of their wealth.

Not those who bought for less $100, let alone the early birds who paid pennies.

Perhaps you misunderstand holding. It means not selling. Until you sell your coins, they are worth exactly what you paid for them, nothing more, nothing less.

Only those stupid enough to sell for less than they paid have lost any wealth.

Agree. But holding into bitcoin should be looked at a method of preserving wealth. What wealth do you preserve when it drops 30%?

From 2002-2007 - The dollar fell 40% in value as the U.S. debt grew 60%.  In 2009, the dollar fell 20% thanks to debt fears.

How much lower is today's dollar value? In 1913 you could buy as much with a dollar as you can with $23.63 in 2014, more than 100 years later. By 1920, the dollar had lost about half its value, and was worth $11.48 in today's value. Deflation (the opposite of inflation) during the Great Depression of 1929 increased the value of the dollar to $13.43. By 1940, the dollar was worth even more -- it could buy as much as $16.40 could today.

By 1950, the dollar's value had dropped even lower than before the Depression. It was worth only $9.53. It has fallen ever since:

    1960 = $7.76
    1970 = $5.92
    1980 = $2.79
    1990 = $1.76
    2000 = $1.33
    2010 - $1.05.
6992  Economy / Speculation / Re: ELI5.. Why are people guessing the auctioned coins sold for so much? on: July 01, 2014, 03:22:30 PM
OP, I'll give you an even simpler explanation.  Maybe the simplest one of all.

It's called an auction.  An auction is an event where bidders try to outbid each other in order to win something, as opposed to underbid each other.   Wink

auc·tion
ˈôkSHən/
noun
noun: auction; plural noun: auctions

    1.
    a public sale in which goods or property are sold to the highest bidder.
6993  Economy / Speculation / Re: Time to rapidly accumulate as many coins as possible on: July 01, 2014, 03:02:45 PM
Well since September 2013 to last week, while I listened for months to retarded day traders talk about losing more money on the swings than winning and pretty much ending up with the same amount of coins or less than what they had back in September, I've quietly been accumulating like a mofo.  I've increased my holdings 4x since Sept. 2013.  What have they done in that same amount of time? Nothing but burn their earnings, if any were made at all.

So buy on the dips and hold, the only way to fly.  Anytime you have the urge to sell in order to buy some stupid thing, go back and read forum threads from 2 years ago.  There were guys cashing out 1000s of coins just to purchase things like computer parts, etc.  And patting themselves on the back for how "smart" they were for making 1.5x their money.  Now they are kicking themselves silly for not holding.
6994  Economy / Speculation / Re: NEWEGG ACCEPTS BITCOIN!!!!!!!!!!!!!!!!!!!!!!! on: July 01, 2014, 02:29:10 PM
I like how NewEgg announces bitcoin acceptance and the price gets a rise, but when Dish and Expedia do the same the price crashes.

Friggin' nerds.
6995  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 01, 2014, 02:23:39 PM
someone's got to spend some coins on Newegg

Didn't buy there in ages.

Happy they take btc now, but... are they still a good place to buy hardware?

Still pretty good though not as hungry as they once were and they charge the tax in my state. They have also started doing that whole "marketplace" nonsense that everyone seems to be doing these days.
Two years ago I custom built a small media center computer with parts I sourced completely from NewEgg.  They had great selection and prices compared to my local computer stores.
6996  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: July 01, 2014, 01:08:37 PM
Quote
keeping the bitcoins for B2B transactions

ding, ding ... these will be the winners.

do you guys know if there is the infrastructure there for B2B payments? as far as i know, all payment processors dont allow payments to be taken as btc and held as btc instead of converting to usd.
Bitcoin will do for the B2B Financial Services industry what SOAP/XML and Web Services did for the B2B E-Commerce and B2C industries.
6997  Economy / Speculation / Re: Who believes in $10,000 a coin? on: July 01, 2014, 11:53:04 AM
The trendline growth chart hanging on my wall says we should be at $10K/btc minimum by mid-October 2015.

Growth is not a constant, ever increasing thing.  Based on this, I guess it'll hit 1 trillion per btc at some point also?
Let's come back in Oct. 2015 and revisit this comment, shall we?  I'll PM you.  Cheesy
6998  Economy / Speculation / Re: Who believes in $10,000 a coin? on: July 01, 2014, 11:32:22 AM
The trendline growth chart hanging on my wall says we should be at $10K/btc minimum by mid-October 2015.
6999  Economy / Speculation / Re: NEWEGG ACCEPTS BITCOIN!!!!!!!!!!!!!!!!!!!!!!! on: July 01, 2014, 11:26:48 AM
Yay for NewEgg!  Now watch the price crash.  Roll Eyes
7000  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 01, 2014, 02:24:20 AM
So far China has been like "Meh".
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