Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JayJuanGee]

Not exactly new, but worth a read for a bit of perspective:
http://www.washingtonpost.com/blogs/the-switch/wp/2014/02/03/these-four-charts-suggest-that-bitcoin-will-stabilize-in-the-future/

NOT only is the article NOT new, but the article is a month old. 

I find it a bit irritating when posters place links in threads, but they do NOT make any comment to provide any context for the reason for the link... like for example, what does the article mean to you?  Why is the article relevant to this thread?

The four bubbles described in that article could imply that we are going to move into another BTC bubble?  or what does it mean exactly?  Do you think that we are going to have less volatility in the future?  Do you believe it?  Other factors could suggest that bitcoin is going to crash.. no?  Do recent events, within the last month (such as the Mt. Gox situation) affect the predictions of the month old article?

[1714684301]

1714684301

[1714684301]

1714684301

[donut]

 There are people in this thread who want to continue to proclaim that taxation is the same as theft, which we should recognize on the face of it how preposterous and absurd a claim that remains ;;; but NONETHELESS some people in this thread want to argue regarding  basic and silly points, like that..

It's actually extortion, which is a form of theft.

I'll try to lay it out.


Extortion (also called shakedown, outwresting, and exaction) is a criminal offense of obtaining money, property, or services from a person, entity, or institution, through coercion. Refraining from doing harm is sometimes euphemistically called protection. Extortion is commonly practiced by organized crime groups. The actual obtainment of money or property is not required to commit the offense. Making a threat of violence which refers to a requirement of a payment of money or property to halt future violence is sufficient to commit the offense. Exaction refers not only to extortion or the unlawful demanding and obtaining of something through force,[1] but additionally, in its formal definition, means the infliction of something such as pain and suffering or making somebody endure something unpleasant.
src

Coercion /koʊˈɜrʃən/ is the practice of forcing another party to act in an involuntary manner by use of intimidation or threats or some other form of pressure or force, and describes a set of various different similar types of forceful actions that violate the free will of an individual to induce a desired response. These actions can include, but are not limited to, extortion, blackmail, torture, and threats to induce favors. In law, coercion is codified as a duress crime. Such actions are used as leverage, to force the victim to act in a way contrary to their own interests. Coercion may involve the actual infliction of physical pain/injury or psychological harm in order to enhance the credibility of a threat. The threat of further harm may lead to the cooperation or obedience of the person being coerced.
src

Can you really tell me with a straight face that taxation is not extortion?

YES.  I can tell you with a straight face that you are coming at this question with fuzzy logic.  YOU seem to be so much focused on yourself that you fail to consider that there are community considerations and you, supposedly, are part of that community.  YOU seem to be case in point someone who wants to set forth trivial arguments to mislead and to distract us from the main issues regarding meaningful discussions about the role of government.  You pigeonhole all government taxes and actions as some sort of guilty by association and NO good deeds are being done by these taxes b/c they are taking money from you.. and somehow, you are likely of the belief that these services and benefits should be left to the private sector to some how miraculously carry them out.. on a voluntary basis....  YOU are communicating EXTREMISM without a foundation in reality... if you are trying to equate the community interests to be the same as the thieving interests of a criminal.

YOU are also likely the kind of guy that is so against taxes and community contribution, that he needs to be forced to pay his fair share into the community b/c you are NOT very likely without being begged to contribute on your own.   Maybe if someone kisses your feet, then maybe you will possibly decide to contribute a little bit to the community.  You are so busy thinking about yourself that you fail to understand the variety of community needs that government fulfills to service people who are NOT in the same circumstances as yourself.

Maybe if we had only a million people in the world, we could get away with each person self-sustaining and having his/her own plot... but we do NOT live in such a world.. and there are communities.. and also an existing status quo that needs to be accounted for and transition if we are going to change to some other societal arrangements that may be able to accommodate approximately 7 billion people.

What is fuzzy about my logic? Seems pretty binary to me - either a given act fits the definition, or it doesn't.
Why can't you follow through to the logical conclusion?

[Richy_T]

What is fuzzy about my logic? Seems pretty binary to me - either a given act fits the definition, or it doesn't.
Why can't you follow through to the logical conclusion?

Rationalizing.

[RicePicker]

So who was saying that the 11k BFX was real and he was just offering it so someone could buy with no slippage?

[EuroTrash]

Aaaaand suddenly the ask side grows a thousand coins bigger around 650... shall I make popcorns or it is just a fad?

[spooderman]

this summer might make me a millionaire

[bassclef]

In an attempt to post something useful I'll repost these... upward consolidation anyone?

Thanks for the super helpful train images, Adam

[JayJuanGee]

 There are people in this thread who want to continue to proclaim that taxation is the same as theft, which we should recognize on the face of it how preposterous and absurd a claim that remains ;;; but NONETHELESS some people in this thread want to argue regarding  basic and silly points, like that..

It's actually extortion, which is a form of theft.

I'll try to lay it out.


Extortion (also called shakedown, outwresting, and exaction) is a criminal offense of obtaining money, property, or services from a person, entity, or institution, through coercion. Refraining from doing harm is sometimes euphemistically called protection. Extortion is commonly practiced by organized crime groups. The actual obtainment of money or property is not required to commit the offense. Making a threat of violence which refers to a requirement of a payment of money or property to halt future violence is sufficient to commit the offense. Exaction refers not only to extortion or the unlawful demanding and obtaining of something through force,[1] but additionally, in its formal definition, means the infliction of something such as pain and suffering or making somebody endure something unpleasant.
src

Coercion /koʊˈɜrʃən/ is the practice of forcing another party to act in an involuntary manner by use of intimidation or threats or some other form of pressure or force, and describes a set of various different similar types of forceful actions that violate the free will of an individual to induce a desired response. These actions can include, but are not limited to, extortion, blackmail, torture, and threats to induce favors. In law, coercion is codified as a duress crime. Such actions are used as leverage, to force the victim to act in a way contrary to their own interests. Coercion may involve the actual infliction of physical pain/injury or psychological harm in order to enhance the credibility of a threat. The threat of further harm may lead to the cooperation or obedience of the person being coerced.
src

Can you really tell me with a straight face that taxation is not extortion?

YES.  I can tell you with a straight face that you are coming at this question with fuzzy logic.  YOU seem to be so much focused on yourself that you fail to consider that there are community considerations and you, supposedly, are part of that community.  YOU seem to be case in point someone who wants to set forth trivial arguments to mislead and to distract us from the main issues regarding meaningful discussions about the role of government.  You pigeonhole all government taxes and actions as some sort of guilty by association and NO good deeds are being done by these taxes b/c they are taking money from you.. and somehow, you are likely of the belief that these services and benefits should be left to the private sector to some how miraculously carry them out.. on a voluntary basis....  YOU are communicating EXTREMISM without a foundation in reality... if you are trying to equate the community interests to be the same as the thieving interests of a criminal.

YOU are also likely the kind of guy that is so against taxes and community contribution, that he needs to be forced to pay his fair share into the community b/c you are NOT very likely without being begged to contribute on your own.   Maybe if someone kisses your feet, then maybe you will possibly decide to contribute a little bit to the community.  You are so busy thinking about yourself that you fail to understand the variety of community needs that government fulfills to service people who are NOT in the same circumstances as yourself.

Maybe if we had only a million people in the world, we could get away with each person self-sustaining and having his/her own plot... but we do NOT live in such a world.. and there are communities.. and also an existing status quo that needs to be accounted for and transition if we are going to change to some other societal arrangements that may be able to accommodate approximately 7 billion people.

What is fuzzy about my logic? Seems pretty binary to me - either a given act fits the definition, or it doesn't.
Why can't you follow through to the logical conclusion?

Your logic is ridiculous, and is NOT worthy of serious contemplation.

More or less, you are saying:

Situation 1)   A robber comes up to you on the street and points a gun at you, and he says give me your money or there will be negative consequences.  You are fearful for your life, and you see that the thief seems capable of causing negative consequences upon you. Therefore you give the thief your money, and you feel resentful about it b/c the thief had placed you in such a position to have to give up your money b/c you did NOT want to suffer the negative consequences that were being threatened.

Situation 2) The government comes up to you, and says if you do NOT pay your taxes you are going to go to jail and your freedom is going to be taken away if you do NOT pay your taxes.  YOU are going to duly suffer and the only way NOT to suffer is if you pay your taxes.    The government surely seems capable of carrying out its threat, and you value your freedom.  Accordingly, you pay your taxes even though you feel resentful about the fact that you had to pay your taxes... but the government forced you into such a situation by threatening you.. just like the robber did in situation 1.

You are saying that situation 1 and situation 2 are clearly similar and that this should be the point of our discussion.. for me to supposedly need to defend why situation 2 is different from situation 1.  I think that it is illogical and silly for me to have to argue with some silly notion that these two situations are the same, when clearly, they are NOT the same - even though both situations make you feel the same way.. robbed.

 I could give a flying fuck about how you feel about being robbed b/c you have to pay taxes.. so what.. this is NOT about how you feel.  A community acting to get you to pay your fair share contribution into the community is NOT the same as someone taking money from you (that is NOT the community, but instead an individual actor or even a gang or even a corporation.. but clearly not the community).


I think that on the face of the matter, your bare assertion that situation 1 and 2 are substantially similar is  illogical,  incomprehensible and unworthy or serious discussion...  Even though the two situations may appear to be similar, they are NOT.. which should be obvious and clear on the face.  I think that i adequately explained this over and over and in sufficient detail without having to have the need to elaborate about the obvious, and I do NOT see the point of continuing such a silly-ass discussions if some people continue to think and to argue that taxes and thievery are the same things.... b/c posters like this are living in a sort of parallel reality of LaLa land and a simplistic world to be making such basic assertions to attempt to equate situations that are clearly NOT the same.... even though they "feel the same."   

Why do we need to discuss this further?  makes no sense to me.

[solex]

Yes. So anything above $600 in April is a breakout?

[marcus_of_augustus]

NEW YORK (MarketWatch) -- The Financial Industry Regulatory Authority, or Finra, on Tuesday issued an investor alert on bitcoin, saying digital currencies are "more than a bit risky." The agency said the alert was intended to caution investors about the risks inherent in buying and using digital currencies like bitcoin. That includes risks from speculative trading and potential fraud related to bitcoin companies, the alert said. The move came after the collapse of the bitcoin exchange Mt. Gox in late February, which filed for bankruptcy in Japan and the U.S. said it lost customers' bitcoins. "Digital currency such as bitcoin is not legal tender," the Finra alert said, which also warned about the lack of safeguards in place for consumers, the irreversibility of bitcoin transactions, and its association with illegal activities.


http://www.marketwatch.com/story/finra-alert-says-bitcoin-more-than-a-bit-risky-2014-03-11?reflink=MW_news_stmp

Thx FINRA. We were all unaware that bitcoin is a speculative investment.

Everyone here are also aware that most of the bitcoins are owned by anonymous people, who in all probability and considering the history, are drug dealers, computer crackers or confidence man. By trusting your wealth in bitcoin, you are trusting that this criminal element won't dump their coins to acquire your wealth as their own.

Bitcooins are EVIIIIIIIIl, evil i tell you!

Witches and goblins own bitcoins, they are the spawn of the devil himself!

Gees, could you get anymore melodramatic? Most of the early anonymous people are nothing like you think ... the criminal element was late to the party and looks like the real criminals, wall st., regulators and others are just showing up now ... you're arriving in the best company it seems.

How's those sour grapes working out for ya? I heard they play hell on the gutz if you keep scoffing them, ulcers, IBS, all of that ...

[bpnave]

Hey I'm new here, but I thought I'd go ahead and share my speculations.


As you can see, to me, it seems as if we may be in for a third "echo" (not repeat--as I've been told markets don't repeat, etc)
http://oi61.tinypic.com/oje520.jpg
source: http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zl

After the rise ends, you have your slump, your hump, your re-rise, a level area, and then a very large rise.

As I am completely new to a lot of this stuff, I have no real idea if any of this is viable, it's just a pattern I noticed. And we seem to be right in the beginning stages of the re-rise, as it always seems to have that initial down trend at the very beginning.

What are your thoughts?

(Please let me know if I'm breaking rules or something...I don't want to be disruptive!)

[BitChick]

NEW YORK (MarketWatch) -- The Financial Industry Regulatory Authority, or Finra, on Tuesday issued an investor alert on bitcoin, saying digital currencies are "more than a bit risky." The agency said the alert was intended to caution investors about the risks inherent in buying and using digital currencies like bitcoin. That includes risks from speculative trading and potential fraud related to bitcoin companies, the alert said. The move came after the collapse of the bitcoin exchange Mt. Gox in late February, which filed for bankruptcy in Japan and the U.S. said it lost customers' bitcoins. "Digital currency such as bitcoin is not legal tender," the Finra alert said, which also warned about the lack of safeguards in place for consumers, the irreversibility of bitcoin transactions, and its association with illegal activities.


http://www.marketwatch.com/story/finra-alert-says-bitcoin-more-than-a-bit-risky-2014-03-11?reflink=MW_news_stmp

Thx FINRA. We were all unaware that bitcoin is a speculative investment.

Everyone here are also aware that most of the bitcoins are owned by anonymous people, who in all probability and considering the history, are drug dealers, computer crackers or confidence man. By trusting your wealth in bitcoin, you are trusting that this criminal element won't dump their coins to acquire your wealth as their own.

Bitcooins are EVIIIIIIIIl, evil i tell you!

Witches and goblins own bitcoins, they are the spawn of the devil himself!

Gees, could you get anymore melodramatic? Most of the early anonymous people are nothing like you think ... the criminal element was late to the party and looks like the real criminals, wall st., regulators and others are just showing up now ... you're arriving in the best company it seems.

How's those sour grapes working out for ya? I heard they play hell on the gutz if you keep scoffing them, ulcers, IBS, all of that ...

Bitcoins are owned by evil people?  Well if we want to get philosophical about it, we all are sinners so I guess it could be true.  

But Bitcoin, like cash, can be used for good or evil in the world and I like to think it is less evil than the bankers and governments that control our money now.

[JayJuanGee]

this summer might make me a millionaire

In the ball park,  how many coins do you believe it will require to accomplish being a bitcoin millionaire by this summer?  100? 200? 500? or some other quantity?

In the most optimistic scenario, I could see the potential of 200 coins making a person a bitcoin millionaire by this summer - however, I have visionary trouble with predictions of any fewer than 200BTC  accomplishing the millionaire objective by this summer.

Based on what I know at the moment, that's my lame prediction of a best case scenario for this upcoming summer.

[chriswilmer]

Hey I'm new here, but I thought I'd go ahead and share my speculations.


As you can see, to me, it seems as if we may be in for a third "echo" (not repeat--as I've been told markets don't repeat, etc)

source: http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zl

(Please let me know if I'm breaking rules or something...I don't want to be disruptive!

You are doing the one thing everyone else is supposed to be doing!

[ChartBuddy]

Explanation

[keewee]

Hey I'm new here, but I thought I'd go ahead and share my speculations.


As you can see, to me, it seems as if we may be in for a third "echo" (not repeat--as I've been told markets don't repeat, etc)
http://oi61.tinypic.com/oje520.jpg
source: http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zl

(Please let me know if I'm breaking rules or something...I don't want to be disruptive!

You are doing the one thing everyone else is supposed to be doing!

+1 nice charts

[TERA]

Good thing I waited for 1 day MACD as a sell signal.

[bpnave]

Hey I'm new here, but I thought I'd go ahead and share my speculations.


As you can see, to me, it seems as if we may be in for a third "echo" (not repeat--as I've been told markets don't repeat, etc)
http://oi61.tinypic.com/oje520.jpg
source: http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zl

(Please let me know if I'm breaking rules or something...I don't want to be disruptive!

You are doing the one thing everyone else is supposed to be doing!

+1 nice charts

Thanks guys, good to know I'm in the right place for this stuff!

If my speculations are at all accurate...I'm very much looking forward to the next few months  

[bassclef]

Yes. So anything above $600 in April is a breakout?

It looks as if we may breakout before. Below 600 would be a bearish option.

Should've changed it to "flying saucer reversal formation."

[TERA]