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Question: 1/17 Closing Price:
<$33,000 - 4 (5.3%)
$33,000-$34,000 - 1 (1.3%)
$34,000-$35,000 - 2 (2.6%)
$35,000-$36,000 - 1 (1.3%)
$36,000-$37,000 - 3 (3.9%)
$37,000-$38,000 - 7 (9.2%)
$38,000-$39,000 - 4 (5.3%)
$39,000-$40,000 - 9 (11.8%)
$40,000-$41,000 - 8 (10.5%)
$41,000-$42,000 - 6 (7.9%)
$42,000-$43,000 - 4 (5.3%)
>$43,000 - 27 (35.5%)
Total Voters: 76

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25065337 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
Adrian-x
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May 19, 2014, 03:48:42 AM
Last edit: May 19, 2014, 04:02:08 AM by Adrian-x

Thanks! Yes, pretty impressive.

All my computing life I have been taught and taught students how to compute things in the most efficient way.  It turns my stomach seeing that much computing power (and electrical power) wasted.  Tongue

Do you people really believe that big miners will be more honest and less greedy than big bankers?


Jorge here is a paper just issued on the topic: http://www.ofnumbers.com/wp-content/uploads/2014/04/Learning-from-Bitcoins-past.pdf. also published is a piece on other hurdles: www.bitcoinmagazine.com/12914/bitcoins-made-in-china

Reading the hurdles I was overcome with awe I can't even express my enthusiasm for the future it is exciting and unpredictable at the same time. I can't call the byproduct waste yet, it's still too soon, it looks like a complete changing of the old guard at the gates of a sustainable future.

As for scientific principles I was introduced to a new one today in physics where a phenomenon is not understood it is most likely the simplest explanation that is the most viable hence God is arguably the simplified cause of all this and Bitcoin is just part of the plan.

At the end of the day we will be free to choose, greedy miners won't survive neither will greedy bankers.

Edit factoring in the overwhelming uncertainty the energy equation brings to the large Bitcoin holders leads me to concluded we will stay flat or slow trend down for a while. Still I wouldn't take this as financial advice it's just one of my random thoughts. (I have a bad record of predicting macro trends.)
The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
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ChartBuddy
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May 19, 2014, 04:00:43 AM


Explanation
JorgeStolfi
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May 19, 2014, 04:05:49 AM

This is a plot of the transactions at Huobi on May/18 around 23:30 UTC (Monday 07:30 am in China):

[ full-size version ]

Each dot is a transaction. The dot's size represents the amount of BTC, and the vertical axis is price (CNY).  The blue dots are the transactiions with amount = 0.01 BTC exactly, the red dots are all the other transactions. 

This plot catches the time when trade started Monday morning.  The 0.01 BTC "ping-pong" robot trades slowed down but did not stop.

A very similar "ping-pong" robot operated for some time in January at MtGOX: 

[ full-size version ]
nanobrain
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May 19, 2014, 04:13:03 AM


As for scientific principles I was introduced to a new one today in physics where a phenomenon is not understood it is most likely the simplest explanation that is the most viable

er....sounds like Occam's Razor....at 800 years old hardly new.
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May 19, 2014, 04:35:20 AM

I do see the odd 0.01 btc buy/sell
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May 19, 2014, 05:00:42 AM


Explanation
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May 19, 2014, 05:09:00 AM

All my computing life I have been taught and taught students how to compute things in the most efficient way.  It turns my stomach seeing that much computing power (and electrical power) wasted.  Tongue

same but then our entire economy is very wasteful http://www.zerohedge.com/news/2014-05-16/where-worlds-unsold-cars-go-die
I'm sure eventually we'll switch to a better crypto system or energy sources like thorium.
Adrian-x
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May 19, 2014, 05:21:47 AM


As for scientific principles I was introduced to a new one today in physics where a phenomenon is not understood it is most likely the simplest explanation that is the most viable

er....sounds like Occam's Razor....at 800 years old hardly new.
The new part for me was seeing it used as a scientific explanation for God. Leading to the intended porous behind Bitcoin the universe and everything.
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May 19, 2014, 05:40:37 AM


As for scientific principles I was introduced to a new one today in physics where a phenomenon is not understood it is most likely the simplest explanation that is the most viable

er....sounds like Occam's Razor....at 800 years old hardly new.
Leading to the intended porous behind Bitcoin the universe and everything.

I'm not sure I follow this sentence, it seems to be missing a subject; is 'porous' now a noun or are we talking about Bitcoin's derriere.

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May 19, 2014, 05:57:24 AM



couldn't we image that if chinese traders now trade on foreigners markets, we are going to see ( or are seeing ) real volume ?!
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May 19, 2014, 06:00:47 AM


Explanation
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May 19, 2014, 06:14:59 AM

All my computing life I have been taught and taught students how to compute things in the most efficient way.  It turns my stomach seeing that much computing power (and electrical power) wasted.  Tongue

same but then our entire economy is very wasteful http://www.zerohedge.com/news/2014-05-16/where-worlds-unsold-cars-go-die
I'm sure eventually we'll switch to a better crypto system or energy sources like thorium.


That zerohedge article really impressed me and made the wastefulness of our actions graspable for me. "Yay! We're building more cars, the economy is growing, elect us again!"

We need to end this "continuous growth paradigm" that is partly a consequence of (or at least intricately intertwined with) the type of money we use. Transitioning to using sound money is a big step towards becoming more resource efficient. The psychopathic powers that be are already shitting their pants regarding their debt regimes threatening to fall apart (Beligum), trying to start ww3 to get out of that deadlock they have maneuvered themselves into. I hope the people of the world will be prudent enough to see through the false flags (example: chemical attacks in syria last year) and violent provocations by payed mercenaries. I also hope our whistleblowers will keep informing us.

I think the easiest and most effective step we can take as people of the world in order to scale down our natural resource usage and to avoid bloody conflict is to transition to using crypto. It'll force governments into fiscal prudence eventually and it'll force actors making bad decisions to suffer the consequences of their actions, as it should be.
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May 19, 2014, 06:38:12 AM

I agree, it's not just about bitcoin becoming successful, that would be nice for me and many of us here, but what's really important is that when any system of sound money takes over and holds it ground for long enough it could direct the world economy and the policitians toward the right path by forcing them to choose paths they would not take if they had unlimited money like they have now.

If bitcoin or a new gold standard catches on their self-destructive behavior will destroy them, or they will notice their behavior is self destructive and they might change their ways. And not just them, but the general population will also be less wasteful, because  let's face it, we too are a wasteful society, that's just how we have always done things and we don't even know any better.
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May 19, 2014, 06:45:09 AM

All my computing life I have been taught and taught students how to compute things in the most efficient way.  It turns my stomach seeing that much computing power (and electrical power) wasted.  Tongue

same but then our entire economy is very wasteful http://www.zerohedge.com/news/2014-05-16/where-worlds-unsold-cars-go-die
I'm sure eventually we'll switch to a better crypto system or energy sources like thorium.


That zerohedge article really impressed me and made the wastefulness of our actions graspable for me. "Yay! We're building more cars, the economy is growing, elect us again!"

We need to end this "continuous growth paradigm" that is partly a consequence of (or at least intricately intertwined with) the type of money we use. Transitioning to using sound money is a big step towards becoming more resource efficient. The psychopathic powers that be are already shitting their pants regarding their debt regimes threatening to fall apart (Beligum), trying to start ww3 to get out of that deadlock they have maneuvered themselves into. I hope the people of the world will be prudent enough to see through the false flags (example: chemical attacks in syria last year) and violent provocations by payed mercenaries. I also hope our whistleblowers will keep informing us.

I think the easiest and most effective step we can take as people of the world in order to scale down our natural resource usage and to avoid bloody conflict is to transition to using crypto. It'll force governments into fiscal prudence eventually and it'll force actors making bad decisions to suffer the consequences of their actions, as it should be.


I agree.

It's so hard to not sound like a bitcoin cultist, but every time someone moans to me about something wrong with the world, I always think "hence; bitcoin."

Credit card eaten at an ATM whilst on holiday ruining entire trip? Hence:bitcoin.
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May 19, 2014, 07:00:42 AM


Explanation
RandomPedestrianN9
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May 19, 2014, 07:21:48 AM

TO DA MOON! CHOO CHOO!
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May 19, 2014, 07:30:51 AM

The direction of a train is typically flat/sideways.
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May 19, 2014, 07:37:09 AM

We need to end this "continuous growth paradigm" that is partly a consequence of (or at least intricately intertwined with) the type of money we use. Transitioning to using sound money is a big step towards becoming more resource efficient. The psychopathic powers that be are already shitting their pants regarding their debt regimes threatening to fall apart (Beligum), trying to start ww3 to get out of that deadlock they have maneuvered themselves into. I hope the people of the world will be prudent enough to see through the false flags (example: chemical attacks in syria last year) and violent provocations by payed mercenaries. I also hope our whistleblowers will keep informing us.

I think the easiest and most effective step we can take as people of the world in order to scale down our natural resource usage and to avoid bloody conflict is to transition to using crypto. It'll force governments into fiscal prudence eventually and it'll force actors making bad decisions to suffer the consequences of their actions, as it should be.

Glad to see you took the time to bring this topic to the Troll Wall observer thread as well Smiley

The potential for Bitcoin/crypto to facilitate a transition to a sustainable economy (as opposed to an infinite growth oriented one) through providing an alternative deflationary monetary system is a huge deal. HUGE DEAL.

The fantastic thing here is that this needn't rely on the prudence of a great many people (like you are calling for), not even their general intelligence. Instead by simply providing a superior system with lower friction, transaction cost and greater control and sovereignty over your funds people will be attracted to the superior system (see Greshams Law ) and start preferring it. The superior system meanwhile provides incentives for responsible fiscal and economic behavior - namely SAVING (pejoratively known as "hoarding") money and SAVING resources. If your currency doubles as an appreciating store of value you don't need financial advisors and baroque financial instruments draining resources with their otherwise unnecessary unproductive activity. If your savings are appreciating you will think twice whether you really need to buy something right now. This incentive for deferred consumption will presumably have a huge impact on our current consumerist culture and that is just the tip of the iceberg of how the transition to a different monetary system might profoundly influence culture. As I said, this is a HUGE DEAL and I wish more people would pay attention to this aspect of crypto instead of trolling each other about price & trading.

Meanwhile enjoy this song about Making Money in the inflationary monetary system Cheesy

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May 19, 2014, 07:40:43 AM

The direction of a train is typically flat/sideways.
I like trains!!!! CHOOO CHOOO!!! CCMF!!! ROCKET IN T MINUS 4 3 2 1!!!! AND WE HAVE A LIFT OFF!!!  TO INFINITY AND BEYOND!!! FREE RICHES FOR EVERYONE!!!!
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May 19, 2014, 07:56:00 AM


Credit card eaten at an ATM whilst on holiday ruining entire trip? Hence:bitcoin.

Hate to say it but right now bitcoin isnt going to help with that. Maybe in a few years if bitcoin gains greater adoption.
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