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73
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 15, 2014, 07:57:46 PM
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We need a Schoolcoin for school ecosystems, where a students worth is no longer measured by grades, but through the number of coins they have. Coins can be used to redeem grades as well as other items like extra pudding at lunch.
I can see it now... This will create a thriving school based economy where the smart students could trickle their coins down to the dumb kids for various goods and services. Giving each member of the school society a valuable role. The smart kids are encouraged to do good work and the dumb kids benefit by finding what they're valuable at as well.
Naturally, the bullies will eventually realize they can just beat up the smart kids and get them to give up their private keys, thereby giving the bullies access to all the smart kids coins. That is, until the smart kids begin to pay off other big kids for protection from the bullies. Meanwhile, there will be a couple super smart geeks who figure out how to game the system and steal the coins of everyone, but when people realize whats happened, those geeks will have to pay off the majority of bullies even more so that they become allies.
The result will be a few super rich geeks with a thriving class of rich mob like thug bullies who ensure the super rich geeks stay protected and in the shadows (so long as the thugs get their cut). Meanwhile, the other 99% of students will continue about their days working hard and earning Schoolcoins based on the quality of work they do, none the wiser that the majority of their coins are being funneled to the super smart geeks who know how to game the system.
Eventually though, cracks will start to appear as most students begin to realize that they're only making enough coins to afford C level grades and some measly square lunchroom pizza when they are really a B level student who should be getting quality chicken tenders at lunch. Slowly, they'll begin to figure out that something is up. Walking down the halls, they can't help but notice that there are a select few students who no longer eat lunch in the lunch room. They have a private room to themselves where they get all kinds of different takeout each day. They also no longer attend class, instead spending all their time working on various projects in secret. Yet they keep receiving a large amount of Schoolcoins for the classes they no longer attend.
As the pieces begin to fall into place, it dawns on the regular students that they've been gamed by the system and at that point, a revolution is inevitable. Unfortunately, all this will play out over many many years. All the while, there will be generations of students who were unable to afford good colleges because they couldn't to save up enough Schoolcoin to pay the entry fee, since cardboard pizza and a few luxuries like 30 minutes of recess a day ate up their entire savings.
An uncharacteristic flair of irony and, dare I say it, humility for this thread. Cheers, 7K! Haha, thank you. I'm here to entertain! |
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74
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 15, 2014, 07:09:11 PM
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We need a Schoolcoin for school ecosystems, where a students worth is no longer measured by grades, but through the number of coins they have. Coins can be used to redeem grades as well as other items like extra pudding at lunch.
I can see it now... This will create a thriving school based economy where the smart students could trickle their coins down to the dumb kids for various goods and services. Giving each member of the school society a valuable role. The smart kids are encouraged to do good work and the dumb kids benefit by finding what they're valuable at as well.
Naturally, the bullies will eventually realize they can just beat up the smart kids and get them to give up their private keys, thereby giving the bullies access to all the smart kids coins. That is, until the smart kids begin to pay off other big kids for protection from the bullies. Meanwhile, there will be a couple super smart geeks who figure out how to game the system and steal the coins of everyone, but when people realize whats happened, those geeks will have to pay off the majority of bullies even more so that they become allies.
The result will be a few super rich geeks with a thriving class of rich mob like thug bullies who ensure the super rich geeks stay protected and in the shadows (so long as the thugs get their cut). Meanwhile, the other 99% of students will continue about their days working hard and earning Schoolcoins based on the quality of work they do, none the wiser that the majority of their coins are being funneled to the super smart geeks who know how to game the system.
Eventually though, cracks will start to appear as most students begin to realize that they're only making enough coins to afford C level grades and some measly square lunchroom pizza when they are really a B level student who should be getting quality chicken tenders at lunch. Slowly, they'll begin to figure out that something is up. Walking down the halls, they can't help but notice that there are a select few students who no longer eat lunch in the lunch room. They have a private room to themselves where they get all kinds of different takeout each day. They also no longer attend class, instead spending all their time working on various projects in secret. Yet they keep receiving a large amount of Schoolcoins for the classes they no longer attend.
As the pieces begin to fall into place, it dawns on the regular students that they've been gamed by the system and at that point, a revolution is inevitable. Unfortunately, all this will play out over many many years. All the while, there will be generations of students who were unable to afford good colleges because they couldn't to save up enough Schoolcoin to pay the entry fee, since cardboard pizza and a few luxuries like 30 minutes of recess a day ate up their entire savings.
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75
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Economy / Speculation / Re: Coinbase will be next to halt withdrawals by Friday..
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on: February 15, 2014, 06:38:16 PM
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Idk how much he got, but he was also preying on people on the GLP forums (under a different username), and who knows where else.
He deleted all his GLP doom threads on friday after they all failed miserably though, so that there will be no negative history of his crap the next time he tries to scare people out of their money over there.
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76
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 15, 2014, 02:25:38 AM
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What I never understand is, somebody dumped 500 coins for 350 on gox and then somebody buys 0.01 coins for 370 and the price jumps up so fast to 370 on bitcoinwisdom. Why does it not go down that fast when somebody dumps 500 cheap coins?
The price goes as high/low as the most recent buy/sell. If the highest buy order is for 350 and someone sells their coins at market, it will fill those 350 buy orders. If there's 1,000 worth of coins on the books at 350, then I can sell 500 and the price will still be 350. Likewise, if the lowest standing sell order is for 370 and someone wants to buy at market, they will have to jump all the way up to that 370 price. Essentially, there is a $20 spread between the buy and sell orders, so the price will fluctuate between the two depending on who wants to buy/sell at market value. 100 coins or 0.01 coins, it doesn't matter. Someone puts in a market sell the price immediately drops to 350. 2 seconds later someone puts in a market buy, the price immediately jumps up to 370. The amount is irrelevant. |
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77
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 14, 2014, 09:04:57 PM
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When it gets boring for most people, this is when I find the market most interesting.
The stuff last night and this morning was fun, but it was predictable. Most people paying attention bought through the 500's and then sold through the 600's/700's this morning (if you're into that kinda quick profit... or else you bought through the 600's and 500's and are holding).
It was a pretty easy turnaround for those interested. That said, now that the price has come back to earth a bit after the quick jump up to 720ish, this is when things get interesting. These are the times when imo it becomes difficult to gauge the market and predict which direction it's going to go. Last night was childs play (in terms of making the smart move). This is where the men separate themselves from the boys, being able to make the correct play right about now.
Unfortunately, I'm not sure I have any insight lol
Depends. Was the downward momentum interrupted or reversed? We will need new good news to keep going up. A fix from Gox, a new app, integration with some major product or company, etc. We would need real bad news, not just FUD, to go back down. Otherwise, we'll go sideways. And screw you it was not child's play. It's easy to say that after the fact, but my net worth was down hundreds of thousands of dollars and shrinking by thousands more by the minute and I knew I should buy MORE, but was surrounded by fear and panic. Calling it child's play is insulting. The children were running, screaming and crying. The adults were buying when they felt like selling but thought differently than they felt. That's what adults do. They act on thoughts more than feelings. Sorry to offend you, I meant in terms of rational thought, it was in fact childs play. You say so yourself. The rational decision was 100% to buy. It may take some decent sized balls to put your money where your mouth is and actually do it, but I was more strictly speaking in terms of predicting the market. It was easy to predict whereabouts to start buying during the plunge down and that it would slingshot back up (although I'll admit I fully underestimated just how high and started selling sooner than I would have liked, I still moved a decent amount over 700). Just as it was pretty easy to see it would shift back down to where it is now after it rebounded so quickly. All those calls were relatively easy imo. Having the fortitude to stick with them may be a different story, but the calls themselves were practically punching people in the face if they were paying attention. The "this is where the men separate themselves from the boy" comment was more referring to being able to properly see where the market is likely to go now, which imo is much less clear than the fun exciting movement of the previous 20ish hours. In terms of gutchecks and being able to put emotion aside, yeah, the fast action certainly will test that. |
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78
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: February 14, 2014, 08:31:46 PM
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When it gets boring for most people, this is when I find the market most interesting.
The stuff last night and this morning was fun, but it was predictable. Most people paying attention bought through the 500's and then sold through the 600's/700's this morning (if you're into that kinda quick profit... or else you bought through the 600's and 500's and are holding).
It was a pretty easy turnaround for those interested. That said, now that the price has come back to earth a bit after the quick jump up to 720ish, this is when things get interesting. These are the times when imo it becomes difficult to gauge the market and predict which direction it's going to go. Last night was childs play (in terms of making the smart move). This is where the men separate themselves from the boys, being able to make the correct play right about now.
Unfortunately, I'm not sure I have any insight lol
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