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

[ChartBuddy]

[1714101051]

1714101051

[1714101051]

1714101051

[1714101051]

1714101051

[1714101051]

1714101051

[1714101051]

1714101051

[1714101051]

1714101051

[Ultraviolet]

so far the US government team america world police has reacted well, I don't think they will outright outlaw bitcoin or else the news from FINCEN and Homeland security would have had a different tone. all they seem to care about is regulating the cash flow in and out of bitcoin, its more then likely this is all they will ever do. Other governments have reacted with much more open arms, a few months ago finland government said bitcoin is A OK and not subject to regulation, the canadian government recently came out and said the same thing.

Thinking that the Government is okay with Bitcoin is not very wise. The only reason that Bitcoin is a high risk investment, in my opinion, is the huge risk of getting black swaned by authorities at one point or another. As Bitcoin grows more and more popular it will attract more and more attention from lobbyists. Lobbyists pay politicians in exchange for laws in favour of their position being passed.

Dreams of $1,000/BTC coming to fruition are totally in vain if Bitcoin can't establish itself in the cultural mainstream. Those who control society will simply suffocate the exchange of fiat for BTC if that condition can't be met, and Bitcoin will never, ever become a standalone currency without going through a period wherein its value is established in relation to fiat for the simple reason that you can't live on BTC itself right now or any point in the short/medium future.

[Odalv]

Topping google news:

Bitcoin being amalgamated to Liberty Reserve story:

"A top Bitcoin exchange, Tokyo-based Mt. Gox, failed to register with FinCEN earlier this month and had its U.S. dollar accounts seized by authorities.

Over the past week, a Bitcoin unit has traded at around $130, according to the website Bitcoincharts.com."
 

http://www.reuters.com/article/2013/05/28/net-us-cybercrime-libertyreserve-charges-idUSBRE94R0KQ20130528

It is time to develop p2p exchange (shared order book) and using WebMoney or OKPay  for p2p fiat transfers. (maybe google wallet too)

[seleme]

come on guys, bring it down 10-15 dollars, I need some alts to rise 

[Hawker]

Topping google news:

Bitcoin being amalgamated to Liberty Reserve story:

"A top Bitcoin exchange, Tokyo-based Mt. Gox, failed to register with FinCEN earlier this month and had its U.S. dollar accounts seized by authorities.

Over the past week, a Bitcoin unit has traded at around $130, according to the website Bitcoincharts.com."
 

http://www.reuters.com/article/2013/05/28/net-us-cybercrime-libertyreserve-charges-idUSBRE94R0KQ20130528

It is time to develop p2p exchange (shared order book) and using WebMoney or OKPay  for p2p fiat transfers. (maybe google wallet too)

OKPay?  You are kidding.  They won't do Bitcoin transactions and they are a nightmare to get money out of.

[niothor]

US Government making a move on Bitcoin is inevitable. The telegraphing thereof has already begun. Bitcoin has to survive the tribulation if it wants global adoption. If it doesn't survive, it'll fall into obscurity or be marginalized.

Sadly, I belive this too. Bitcoin have to survive this and become accepted by the common man and the governments . Otherwise all you can do with it is buy weed. Iwant to be able to buy a car with my coins someday.   

www.bitpremier.com

So , you would buy a 200k Mercedes from a website hosted on a shared hosting , with a domain purchased via Domainsbyproxy?

[Xiaoma]

www.bitpremier.com

So , you would buy a 200k Mercedes from a website hosted on a shared hosting , with a domain purchased via Domainsbyproxy?

It is probably as safe as craigslist

[Odalv]

Topping google news:

Bitcoin being amalgamated to Liberty Reserve story:

"A top Bitcoin exchange, Tokyo-based Mt. Gox, failed to register with FinCEN earlier this month and had its U.S. dollar accounts seized by authorities.

Over the past week, a Bitcoin unit has traded at around $130, according to the website Bitcoincharts.com."
 

http://www.reuters.com/article/2013/05/28/net-us-cybercrime-libertyreserve-charges-idUSBRE94R0KQ20130528

It is time to develop p2p exchange (shared order book) and using WebMoney or OKPay  for p2p fiat transfers. (maybe google wallet too)

OKPay?  You are kidding.  They won't do Bitcoin transactions and they are a nightmare to get money out of.

We need fiat escrow service (some confirmation than money was send. There is not problem with bitcoin because we have block chain and everybody can see if coins was send. And it is easy to build "open source escrow bot" watching block chain. ).

[Rampion]

US Government making a move on Bitcoin is inevitable. The telegraphing thereof has already begun. Bitcoin has to survive the tribulation if it wants global adoption. If it doesn't survive, it'll fall into obscurity or be marginalized.

Sadly, I belive this too. Bitcoin have to survive this and become accepted by the common man and the governments . Otherwise all you can do with it is buy weed. Iwant to be able to buy a car with my coins someday.  

You need to understand that Bitcoin is a game changer. It's a challenge and possibly a threat for to the "status quo" of the most powerful people in the world: the ones controlling monetary supply.

Bitcoin being banned by Governments at some point is a possibility predicted from the very beginning. And that's why Satoshi is a pseudonym and he/they used Tor all the time,  working hard to totally conceal his/their real identity. And it's also one of the many reasons why you do not invest in it what you cannot afford to lose.

That said, we should assume clever people is advising government. And banning Bitcoin is bad advice, because it will very likely make it stronger on the long term - because it is designed with that in mind.

It may be most effective to them to regulate it as much as they can, trying to control it, even by owning as much hash rate as possible. And if they finally decide that it's a lethal threat to the current financial system, it may be more effective for their interests to pump and crash the market at will.

But at the end of the day, there is no easy or obvious way to get rid of Bitcoin, unless the whole Internet is taken down.

 

[Piper67]

US Government making a move on Bitcoin is inevitable. The telegraphing thereof has already begun. Bitcoin has to survive the tribulation if it wants global adoption. If it doesn't survive, it'll fall into obscurity or be marginalized.

Sadly, I belive this too. Bitcoin have to survive this and become accepted by the common man and the governments . Otherwise all you can do with it is buy weed. Iwant to be able to buy a car with my coins someday.   

www.bitpremier.com

So , you would buy a 200k Mercedes from a website hosted on a shared hosting , with a domain purchased via Domainsbyproxy?

No, I'd buy a 200k Mercedes from someone who is selling a 200k Mercedes. How I find them and how they find me... that's almost incidental.

[adamstgBit]

so far the US government team america world police has reacted well, I don't think they will outright outlaw bitcoin or else the news from FINCEN and Homeland security would have had a different tone. all they seem to care about is regulating the cash flow in and out of bitcoin, its more then likely this is all they will ever do. Other governments have reacted with much more open arms, a few months ago finland government said bitcoin is A OK and not subject to regulation, the canadian government recently came out and said the same thing.

Thinking that the Government is okay with Bitcoin is not very wise. The only reason that Bitcoin is a high risk investment, in my opinion, is the huge risk of getting black swaned by authorities at one point or another. As Bitcoin grows more and more popular it will attract more and more attention from lobbyists. Lobbyists pay politicians in exchange for laws in favour of their position being passed.

Dreams of $1,000/BTC coming to fruition are totally in vain if Bitcoin can't establish itself in the cultural mainstream. Those who control society will simply suffocate the exchange of fiat for BTC if that condition can't be met, and Bitcoin will never, ever become a standalone currency without going through a period wherein its value is established in relation to fiat for the simple reason that you can't live on BTC itself right now or any point in the short/medium future.

governments have already come out and said bitcoin was ok

[Quantum_Negatum]

governments have already come out and said bitcoin was ok

No.

[adamstgBit]

governments have already come out and said bitcoin was ok

No.

yes.

[adamstgBit]

governments have already come out and said bitcoin was ok

No.

yes.

http://blog.bitpay.com/2012/09/bitpay-exceeds-1000-merchants-accepting.html

As a result of the secretary of the Central Bank of Finland publicizing that bitcoin is legal to use in Finland, many businesses have seized the opportunity to accept bitcoin. Some of the rather unique merchants in Finland include a dentist office, a veggieburger restaurant chain, and a funeral service.

[Rampion]

Topping google news:

Bitcoin being amalgamated to Liberty Reserve story:

"A top Bitcoin exchange, Tokyo-based Mt. Gox, failed to register with FinCEN earlier this month and had its U.S. dollar accounts seized by authorities.

Over the past week, a Bitcoin unit has traded at around $130, according to the website Bitcoincharts.com."
 

http://www.reuters.com/article/2013/05/28/net-us-cybercrime-libertyreserve-charges-idUSBRE94R0KQ20130528

It's a joke how they mixed MtGox with the Liberty Reserve thing.

MtGox is very thorough in verifying the identity of its users, LR wasn't. Gox may be amateurish, but they really try to comply with AML regulation, the verification queue was huge at one point and they reject applications because of silly misspellings on the utility bill. And all the apostille and notarization crap you need for "trusted" status.

Yeah, they failed to register to FinCEN, probably because they underestimated the outcome because the project grew too big too fast for them to scale and get somebody competent and experienced on board.

About time.

[ChartBuddy]

[Ultraviolet]

Finland/Canada et al. are very small players compared to the US Government in regard to what kind of black swan event you'll see during an assault. If Finland or Canada assaults BTC maybe you'll see someone sell 10k coins and it will blow over like Dwolla. If the US Government does, we'll see sub 50 in the long term.

Also, they say they're fine with it today. When it's a considerably more obvious threat to the position of lobbyists, expect the position to do a total 180.

[Rampion]

If the US Government does, we'll see sub 50 in the long term.

$50 it's a lot if you consider that we were at $20 at the end of January.

Anyhow, long term you will see at least 4 figures unless a superior, decentralized and trust-free crypto is developed, or a fatal vulnerability is exposed - regardless of what the US Government decides to do.

There are only 21 millions, did you know?

[ManBearPig]

Finland/Canada et al. are very small players compared to the US Government in regard to what kind of black swan event you'll see during an assault. If Finland or Canada assaults BTC maybe you'll see someone sell 10k coins and it will blow over like Dwolla. If the US Government does, we'll see sub 50 in the long term.

Also, they say they're fine with it today. When it's a considerably more obvious threat to the position of lobbyists, expect the position to do a total 180.

The divorce is happening and Bitcoin will go on to find love eventually. Just...not with the dollar!

[ChartBuddy]