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

[Davyd05]

I know it would be argued that Jorge is voicing this opinion to perhaps save someone from making bad investments but it seem more like fear mongering to scare some noobs to being afraid of China that they sell at or near a bottom.

his investment seems questionable, at best - to supposedly save us from ourselves.

I don't want to save anyone on this thread. I assume you all are adults and know the game you are gambling in.  I feel that I have an obligation to warn people who may be lured into investing in bitcoin with false promises, but they are unlikely to be reading here.

Interesting...I too would hope no one is lured in to buying bitcoin prematurely. It should be a lengthy process...took me roughly two years to mull it over. When I finally did decide to speculate I found my first wallet, MalwareBytes scanner kept my small mined btc safe after a false detection sent the wallet.dat to a quarantine folder, found my .10 of a bitcon safe and sound.

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[xulescu]

I know it would be argued that Jorge is voicing this opinion to perhaps save someone from making bad investments but it seem more like fear mongering to scare some noobs to being afraid of China that they sell at or near a bottom.

his investment seems questionable, at best - to supposedly save us from ourselves.

I don't want to save anyone on this thread. I assume you all are adults and know the game you are gambling in.  I feel that I have an obligation to warn people who may be lured into investing in bitcoin with false promises, but they are unlikely to be reading here.

A very lucid argument for playing devil's advocate. I believe Jorge is a troll of much underestimated skill. My respect for you grows again, sir.

[ChartBuddy]

Explanation

[KFR]

I know it would be argued that Jorge is voicing this opinion to perhaps save someone from making bad investments but it seem more like fear mongering to scare some noobs to being afraid of China that they sell at or near a bottom.

his investment seems questionable, at best - to supposedly save us from ourselves.

I don't want to save anyone on this thread. I assume you all are adults and know the game you are gambling in.  I feel that I have an obligation to warn people who may be lured into investing in bitcoin with false promises, but they are unlikely to be reading here.

Yet you're still here with the speculators, appearing to only give a damn about the price of a bitcoin rather than Bitcon itself.  Your noble self-righteous crusade is either completely misdirected or, as you appear to be implying, pure bullshit as many of us have suspected since soon after you showed up here.

Ergo you're simply a disingenuous troll with tenure and nothing better to do than pursue vindication for your own misguided assumptions. 

I guess "I feel that I have an obligation to warn people" that sometimes smart people give deeply flawed advice for what they think are entirely righteous reasons, purely as a result of their own dogmatic, self-serving and unfounded convictions.

As I've said before, you're allegedly a computer scientist; if you think Bitcoin has problems, trying doing some computer science.  You could start by challenging your assumptions, kinda like a real scientist would.

Otherwise, the term "priest" and/or "cultist" appears to be much more suited to you than any of the people you usually try to hang it on. 

With all due respect etc. 

[Walsoraj]

I know it would be argued that Jorge is voicing this opinion to perhaps save someone from making bad investments but it seem more like fear mongering to scare some noobs to being afraid of China that they sell at or near a bottom.

his investment seems questionable, at best - to supposedly save us from ourselves.

I don't want to save anyone on this thread. I assume you all are adults and know the game you are gambling in.  I feel that I have an obligation to warn people who may be lured into investing in bitcoin with false promises, but they are unlikely to be reading here.

Yet you're still here with the speculators, appearing to only give a damn about the price of a bitcoin rather than Bitcon itself.  Your noble self-righteous crusade is either completely misdirected or, as you appear to be implying, pure bullshit as many of us have suspected since soon after you showed up here.

Ergo you're simply a disingenuous troll with tenure and nothing better to do than pursue vindication for your own misguided assumptions. 

I guess "I feel that I have an obligation to warn people" that sometimes smart people give deeply flawed advice for what they think are entirely righteous reasons, purely as a result of their own dogmatic, self-serving and unfounded convictions.

As I've said before, you're allegedly a computer scientist; if you think Bitcoin has problems, trying doing some computer science.  You could start by challenging your assumptions, kinda like a real scientist would.

Otherwise, the term "priest" and/or "cultist" appears to be much more suited to you than any of the people you usually try to hang it on. 

With all due respect etc. 

/disagree, and imo we should replace that Brock guy on the Bitcoin Foundation Board with Jorge.

Anyone know if it's possible to nominate and elect someone against their will?

[KFR]

I think Bitcoin might ultimately fail, but is much more likely to succeed - as a result the value of a Bitcoin would almost certainly increase significantly due to the way the protocol has been designed e.g. finite supply etc.  

Some people think Bitcoin might ultimately succeed, but is much more likely to fail - at some point.  In the meantime its value will fluctuate wildly.  

My problem is with people that are absolutely determined to convince everyone - particularly themselves - that the ultimate failure of Bitcoin is a pre-determined absolute and, at no point on its trajectory, should anyone ever risk any money on it as a result.

I often think of all the people who regularly, and in my opinion quite foolishly, spend a significant amount of their very meagre income on lottery tickets - not to mention more direct gambling like online poker, sports bets etc.

By "protecting them" from investing in Bitcoin and ignoring where these people are likely to otherwise spend that money Jorge's really missing a trick.

People can't sell losing lottery tickets for any value at all.  If you keep one eye on a ticker then you can sell your bitcoin if and when you think it has become a losing bet.  One's a pure gamble and one's a (debatably) relatively high risk and potentially very high reward investment.

[ChartBuddy]

Explanation

[shmadz]

Houbi going for another dip, anyone else planning on cashing in on some cheap coins? 

[ChrisML]

Houbi going for another dip, anyone else planning on cashing in on some cheap coins? 

Been there, done that. Somewhere in the beginning of March if I am correct.

Just waiting and hodling.

[xulescu]

I know it would be argued that Jorge is voicing this opinion to perhaps save someone from making bad investments but it seem more like fear mongering to scare some noobs to being afraid of China that they sell at or near a bottom.

his investment seems questionable, at best - to supposedly save us from ourselves.

I don't want to save anyone on this thread. I assume you all are adults and know the game you are gambling in.  I feel that I have an obligation to warn people who may be lured into investing in bitcoin with false promises, but they are unlikely to be reading here.

Yet you're still here with the speculators, appearing to only give a damn about the price of a bitcoin rather than Bitcon itself.  Your noble self-righteous crusade is either completely misdirected or, as you appear to be implying, pure bullshit as many of us have suspected since soon after you showed up here.

Ergo you're simply a disingenuous troll with tenure and nothing better to do than pursue vindication for your own misguided assumptions. 

I guess "I feel that I have an obligation to warn people" that sometimes smart people give deeply flawed advice for what they think are entirely righteous reasons, purely as a result of their own dogmatic, self-serving and unfounded convictions.

As I've said before, you're allegedly a computer scientist; if you think Bitcoin has problems, trying doing some computer science.  You could start by challenging your assumptions, kinda like a real scientist would.

Otherwise, the term "priest" and/or "cultist" appears to be much more suited to you than any of the people you usually try to hang it on. 

With all due respect etc. 

Man, relax. All the negativity is shortening your life and all this energy is better spent elsewhere.

Allow me to correct you on a matter of semantics. A troll, by definition, is entirely conscious of the facade they play. It is the name of the game to make it as outrageous as possible but realistic enough that it is not dismissed out of hand. So everyone should know the troll is full of shit, but everyone should believe others might fall for it. This is when you get an echo chamber of warnings about the troll, of other trolls recognising the act of trollery and joining the act. The ultimate troll is a Chaos Master. I strongly believe now that Jorge is an expert troll. Look at how smoothly he argued that he's playing the devil's advocate. Then he admitted he knows the audience is not the target of his obligation.

And all we do now is sit in the middle of the echo chamber and keep feeding the troll. Jorge is likely on cloud nine.

[ChartBuddy]

Explanation

[rpietila]

So I am puzzled by this calm, I can't understand what those Chinese sellers are waiting for.  

The nature of Bitcoin - once you sell it, you can't sell it again.

After 6 months of selling, no more coins in the sellers' hands.

Volume down.

Next: UP. No other way is even possible.

When: Don't know exactly, but 650 by the end of June is a possibility. Top could be in August-September.

[sidhujag]

So I am puzzled by this calm, I can't understand what those Chinese sellers are waiting for.  

The nature of Bitcoin - once you sell it, you can't sell it again.

After 6 months of selling, no more coins in the sellers' hands.

Volume down.

Next: UP. No other way is even possible.

When: Don't know exactly, but 650 by the end of June is a possibility. Top could be in August-September.

Maybe.. but usually No Demand is a sign of a top. I'd like to see a monthly high volume up thrust.

[Searing]

So I am puzzled by this calm, I can't understand what those Chinese sellers are waiting for.  

The nature of Bitcoin - once you sell it, you can't sell it again.

After 6 months of selling, no more coins in the sellers' hands.

Volume down.

Next: UP. No other way is even possible.

When: Don't know exactly, but 650 by the end of June is a possibility. Top could be in August-September.

like the way you think .....I mine in the USA I hope the only problems I have is how to pay IRS their 25% share of 'gross mining profits"

did not have to pay any taxes last year cause they had 50% off equip depreciation in 2013 (likely will be same in 2014) then standard depreciation according to my CPA

the IRS Guidelines 2013 of bitcoin as property ie/land (crap i'm a farmer)  thus the equipment option..

and before people jump on me why I'm reporting ..did as a newbie KNC wire xfers (no btc)

bank screwed up 6x and did a total of 4 to knc refunded 3...and kept 1 (titan) ...so each time in USA you sign a paper over 10k wire xfer you are not xfering money

for criminal activities..with that much paper floating about decided to fess up after the guidelines came up (had like 20 days gee thanks) do my btc taxes legit

via amending my taxes for 2013...so you guessed it

anwyay bank did come after me threatened to tell feds...went down with 'legit' taxe forms done on bitcon 2013...showed it was their 6 missfires on getting the wire

xfers out ...and avoided a LOT of pain with the IRS ..(sometimes it is good to be paranoid!!!)

so anyway if what you say is correct I likely need to buy MORE  equipment.....sigh...hopefully the rules will change back next year

anyway..if BTC even stays at 500 bucks should work out for me...if it hits 1000 bucks btc....equip buying again here I come....

FML

Searing

[ChartBuddy]

Explanation

[bclcjunkie]

well said Risto... however i doubt the professor will understand that simple and clear explanation he's probably lost in his own analysis as Phd holders usually like to complicate their research...

So I am puzzled by this calm, I can't understand what those Chinese sellers are waiting for.  

The nature of Bitcoin - once you sell it, you can't sell it again.

After 6 months of selling, no more coins in the sellers' hands.

Volume down.

Next: UP. No other way is even possible.

When: Don't know exactly, but 650 by the end of June is a possibility. Top could be in August-September.

[macsga]

I think Bitcoin might ultimately fail, but is much more likely to succeed - as a result the value of a Bitcoin would almost certainly increase significantly due to the way the protocol has been designed e.g. finite supply etc.  

Some people think Bitcoin might ultimately succeed, but is much more likely to fail - at some point.  In the meantime its value will fluctuate wildly.  

My problem is with people that are absolutely determined to convince everyone - particularly themselves - that the ultimate failure of Bitcoin is a pre-determined absolute and, at no point on its trajectory, should anyone ever risk any money on it as a result.

I often think of all the people who regularly, and in my opinion quite foolishly, spend a significant amount of their very meagre income on lottery tickets - not to mention more direct gambling like online poker, sports bets etc.

By "protecting them" from investing in Bitcoin and ignoring where these people are likely to otherwise spend that money Jorge's really missing a trick.

People can't sell losing lottery tickets for any value at all.  If you keep one eye on a ticker then you can sell your bitcoin if and when you think it has become a losing bet.  One's a pure gamble and one's a (debatably) relatively high risk and potentially very high reward investment.

+1

[ChartBuddy]

Explanation

[EuroTrash]

So I am puzzled by this calm, I can't understand what those Chinese sellers are waiting for.  

The nature of Bitcoin - once you sell it, you can't sell it again.

After 6 months of selling, no more coins in the sellers' hands.

Volume down.

Next: UP. No other way is even possible.

When: Don't know exactly, but 650 by the end of June is a possibility. Top could be in August-September.

The opposite logic also applies. Here "you" = average trader.
Once you sell it, you can also buy back lower, only to see the price dropping again and you being forced to admit defeat and close the long position at a loss.
At the n-th cycle of frustration you decide to stay in fiat and just wait for a clear uptrend. Leaving your fiat on the exchange, where it is more at risk than in your bank account.
If the worrysome wait goes on for too long, you might as well want to withdraw the fiat to the bank.
So fiat slowly exits the system.

[macsga]

What bothers me the most (apart from the train not ChooChooing yet) is that after articles like this:
http://blogs.wsj.com/economics/2014/05/16/congatulations-to-class-of-2014-the-most-indebted-ever/?mod=WSJBlog
people still think that bitcoin is about to fail...