Many people have heard of it by now, but are not ready to jump aboard. They are all curious and want to know how many you have and if you're a 'bitcoin milionaire'. Most of the responses I get are that they are thinking it'll either collapse an other 60% or think it's a (piramide) scam.
For the moment the tech is not easy enough for them to understand and trust. so the adoption goes slowly it'll gain momentum in time as more and more people start to read and get used to seeing btc listed on more and more sites along with pp and visa when they checkout.
Once the first major retailer will accept btc, we'll be on the vertical of the s-curve in no time
My experience as well, some are interested, but most think it's too risky. |
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I have built a few sites for clients in the past that use bitpay and the price gap was an issue because of high priced items they sold (mainly metals and jewels) margins were tight in the market and the offset disrupted the prices quite a bit
I see. Something to watch out for then, I guess. Wonder if there's a site that tracks historic Bitpay rates vs. market rates. Yes, this has been my experience as well. I used bitcoins a few times to buy some food (back in november-december I believe), and at times the rates were kinda ok, but sometimes there was a BIG premium (IIRC in the area of 5-10%) to be paid for the conversion (to euros). That being said, I like the functionality that Bitpay provides, and if the rates for the customer are competitive, I might use it more often. I suspect this will happen over time. |
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People loaning money in bull markets never stop to amaze me.
I used to think that but although its risky to have money on an exchange I know a few people who loan on Finex but aren't too into BTC, where else can you get .5% per day ! I do both. I like diversifying my risks a bit. |
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My highly-skilled ctrl-f research reveals no bitcoin references, and only one "payment" reference. Can you quote what it is you are referring to? Funny, I went through the exact same sequence. |
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Amusingly, Goat actually started another forum site to get away from this trash. The signal/noise ratio there is vastly better. But it's not an external face of bitcoin, so I see value in posting here, where google is likely to take novices.
What forum is this? |
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Lol that is more like 2 bottles.
Alcohol is expensive here. That's the price for a 0.7l bottle of the cheapest Polish vodka. Scandinavian? |
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Enough already
Welcome to the Wall Observer Thread.  |
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I see what Adam is doing here. He believes in a correlation between the number of wall observer thread posts and the BTC price, and is trying to drive both up by giving away free beer  . |
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1) The models cannot possibly incorporate all variables. Economics tries to model the sum of human interaction. That's literally a chaotic system. Such modeling work great until all of a sudden it doesn't work at all.
2) The human element. Political incentives, individuals' career and legacy incentives, etc, are extremely dangerous motivators if you've allowed a system to exist whereby a small number of people have tremendous control over key variables. Unfortunately that's what we have, and it's proving to be a problem. A fairly obvious problem if you take a high-level long-term view and have some appreciation for the muddiness of it all, but that doesn't fit elegantly with the pretty equations economists love.
<off topic> Yes, one day I believe economics and social sciences could be studied as a "real science", but the underlying system is too complex for present day models to provide detailed predictive power. That's not to say it's all randomness, there are definitely principles at play here, many of whom we are aware of, but the interplay is too complex and chaotic. Simple equations that provide adequate explanation for the underlying system are still reserved for the fields of physics and chemistry (although undoubtedly I am ignoring some really complex subfields). Biology is at the border between "hard science" and "too complex" imho. </off topic> |
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Do we really need a nefarious explanation for all of this? Market was pretty overbought on the short-term and corrected/ is correcting.
PS: just look at the 1h chart on bitcoinwisdom.
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to answer an earlier question: the USD swap market on finex has not normalized.
Best offer is 0.73 %/day.
Seems to me someone's playing/owning that market.
0.04% now what the crap... now loads of offers below the previous best offer (0.73%) popped up. Flash rate offers are also back. I think the dude just released his swaps. Or: some bug on finex. I doubt it's a bug. It's just volatile trading atm (and of course whales might always try to influence the markets by jumping up and down and making some waves that are predictable for them). |
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to answer an earlier question: the USD swap market on finex has not normalized.
Best offer is 0.73 %/day.
Seems to me someone's playing/owning that market.
0.04% now These high rates tend to get cancelled fairly quickly though. |
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This is fun to watch . |
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Jebus, that price action...
well fuck me, it is quite surprising, isn't it? I was absolutely happy with breaking 650 today... this kind of action is just insane to a level where I begin to feel a little uneasy about it. It is. It also never stops to surprise me how hard is to really trade unemotionally, even after I have been in a couple of bubbles (gold & silver too). I could see the forum posts getting very bearish going into the $340, and I did buy some on the way down, but not nearly enough. You can see people getting conditioned to declining prices, notice the sentiment, and think "haha, but this will end soon enough", and afterwards your realize your own bids were way too conservative as well. Same at the top. You know its overheating, you sell a bit, but not nearly enough. I always get too greedy, both to the upside and the downside. Suits me right for being a pig. Thankfully bitcoin will honey-badger on no matter what :-). As long as the fundamentals stay sound all of this is just a little side-game... |
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Jebus, that price action...
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Haha, maybe in the future, but have you looked at a chart for bitcoin lately?
I was talking about inflation and the devaluation of currency. And Bitcoin is not affected by inflation. If we check the Bitcoin charts, all that we will get to see is deflation, instead of inflation. Yeah, I was talking more about the general volatility. However I would completely disagree that BTC is not affected by inflation. Any time your buying power decreases, you have inflation. Can any of us say that has never happened to our personal buying power? Of course, over the long-term BTC does deflate. Bitcoin adoption is a matter of speculation (and thus so is it's price inflation), however it's monetary inflation is not (roughly around 10% at the moment, but will only get better, getting close to 0%). On the other hand, continuous monetary inflation of fiat currencies (and especially in situations like Argentina) is a given. You make your own conclusions on what people will eventually choose, and what that will mean for price levels .... |
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Why does igorr keep on saying: This user is currently ignored. Anyone?
He is one of our most intelligent users on here. His contributions, brilliant as they are, however tend to move the markets through their sheer relevance and originality in a way that is unpredictable, maybe even dangerous. It was decided that it would be for the better of all of us lesser users if we are spared the radiating intelligence of his posts, and thus he has been placed on ignore by most. A sacrifice none of us made lightly. The candle that burns twice as bright...Nice ones...  |
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the true moral of the story is: Bitcoin is not for women/girls tell your wife to catch a falling knive in a flashcrash (really profitable trade). She will scream at you 'SELL' at those occasions. True story. Don't let women influence your trades, they generally suck at trading. Only very few women maybe can do well with btc. I know women. It's true. Too emotional, bad at math, no patience - really not good for trading volatile stuff like crypto. They are better with the shopping I think this post made you the favorite poster of every woman on this forum. I expect medals will be awarded. |
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The crazy Spaceman talks about BTC I love Spacemen that talk about BTC . |
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Seems we have flattened here at 490-495, kinda thought we might dip and make a nice flag. Dont really know what to think. Any thoughts on where were going from here? (besides the proverbial moon)
Just catching our breath after a big day. I'm surprised it didn't slip further. This. I thought we would settle down at +-$475 before going into a rally in a few days. It's hodling pretty nice up there. Yeah, looks like it wants to go to $550 for now. |
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