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Question: Sept. 21 Closing Price:
$0 - 3 (2.9%)
<$8,000 - 5 (4.9%)
$8,000-$8,500 - 1 (1%)
$8,500-$9,000 - 2 (1.9%)
$9,000-$9,500 - 5 (4.9%)
$9,500-$10,000 - 6 (5.8%)
$10,000-$10,500 - 22 (21.4%)
$10,500-$11,000 - 20 (19.4%)
$11,000-$11,500 - 19 (18.4%)
$11,500-$12,000 - 6 (5.8%)
>$12,000 - 8 (7.8%)
>$20,000 - 6 (5.8%)
Total Voters: 103

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21374278 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. (106 posts by 21 users deleted.)
michaelGedi
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June 07, 2013, 09:58:02 PM
 #14101

gosh... I get ready to sell x% and leave the profit as investment in ASICMINER, then I start reading the relentlessly positive r/Bitcoin....

http://www.thegenesisblock.com/bitcoin-london-draws-attention-of-mainstream-finance

so, I figure now is a good a time as any to take some profit from ASICMINER's recent explosion and wait for brighter days...  now the bids are looking very strong around $105ish on gox, and bitstamp just can't be trusted one way or the other - everytime you think it's going to drop, someone executes a massive buy, plus the bids closest to the price are all looking fairly healthy now as well.

question is, what's a good mid term exit point, something just below $115ish and hope for a bounce? hmm


I wonder what mr manipulator wants to do now...
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June 07, 2013, 10:01:16 PM
 #14102

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June 07, 2013, 10:26:54 PM
 #14103


I wonder what mr manipulator wants to do now...

the same as everyone else, dump and leave the area...
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June 07, 2013, 10:31:29 PM
 #14104


I wonder what mr manipulator wants to do now...

the same as everyone else, dump and leave the area...

lol

who the hell wants to do that Huh

... no one wants to do that

keep buying folks, bear trap caught a big bear  Cool
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June 07, 2013, 10:35:39 PM
 #14105

I use a toilet for that... u know... toilet!!!!!!

I know pretty well I stirred a bitbee nest by saying that but don't forget.
Greed will destroy every dream no matter how beautifull it is  , and currently bitcoin is driven by greed.

Unlike many others on forum , I haven't put all my hopes of a wealthy future in bitcoins succes, and thus I can keep a cooler head than most people here.


(1) You made a nonsensical, irrelevant statement about a toilet.
(2) You acknowledged that you said something stupid and someone else responded to it.
(3) You made a nonsensical, irrelevant statement about "greed" that cannot be empirically proven
(4) You made a generality regarding the "hopes" of "others on forum," and used that generality to support some sort of statement about your mood. This is called a "non-sequitur."


Ok, so you replied by saying absolutely nothing. Great job.  Grin Grin Grin

Oh, and this:
Quote from: Miz4r
You're overgeneralizing, you don't know how many people are in it just for their own personal greed and I think you are just guessing based on your biased gut feeling. Bitcoin is driven by many things, and yes greed is a part of that too just like with all innovative technologies. But I think you're underestimating the amount of people who truly care about bitcoin as a technology that could revolutionize our monetary system. I am quite heavily invested into bitcoin, but I'm not at all counting on becoming rich because of it. If that happens to be the case, cool. But most importantly I think a decentralized cryptocurrency is what this world needs right now in the midst of all the economic turmoil.



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June 07, 2013, 10:44:59 PM
 #14106

I use a toilet for that... u know... toilet!!!!!!

I know pretty well I stirred a bitbee nest by saying that but don't forget.
Greed will destroy every dream no matter how beautifull it is  , and currently bitcoin is driven by greed.

Unlike many others on forum , I haven't put all my hopes of a wealthy future in bitcoins succes, and thus I can keep a cooler head than most people here.


(1) You made a nonsensical, irrelevant statement about a toilet.
(2) You acknowledged that you said something stupid and someone else responded to it.
(3) You made a nonsensical, irrelevant statement about "greed" that cannot be empirically proven
(4) You made a generality regarding the "hopes" of "others on forum," and used that generality to support some sort of statement about your mood. This is called a "non-sequitur."


Ok, so you replied by saying absolutely nothing. Great job.  Grin Grin Grin

Oh, and this:
Quote from: Miz4r
You're overgeneralizing, you don't know how many people are in it just for their own personal greed and I think you are just guessing based on your biased gut feeling. Bitcoin is driven by many things, and yes greed is a part of that too just like with all innovative technologies. But I think you're underestimating the amount of people who truly care about bitcoin as a technology that could revolutionize our monetary system. I am quite heavily invested into bitcoin, but I'm not at all counting on becoming rich because of it. If that happens to be the case, cool. But most importantly I think a decentralized cryptocurrency is what this world needs right now in the midst of all the economic turmoil.





Yeah , I talk like that when I speak to zealots!
I know pretty much they are like horses with cheekpieces!

Unfortunately I read too many of your post ...

You're one of those guys who believe in thousands of foodler restaurants , hundred of bitpay merchants added daily , and lots of VC, DP , and BBW investing money in bitcoins.

And of course if i show you one of this charts

http://blockchain.info/charts/n-transactions
http://blockchain.info/charts/estimated-transaction-volume-usd

which are in total contradiction of the MASS adoption and people spending more and more bitcoins on different merchandise your gonna go in a denial phase.

Well , good luck with your bitcoin going from currency to commodity or .. collectibles.
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June 07, 2013, 11:01:21 PM
 #14107

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June 07, 2013, 11:01:47 PM
 #14108

The only reason to go through hassle of getting bitcoin is using silkroad


oh don't get me started



guy's liking the volatiliy?
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June 07, 2013, 11:02:46 PM
 #14109

shits getting deep.

Some are holding coins in order to spend them later when it's easier and safer and they can buy the normal things they would buy in their everyday life without a second thought, and without having to change back to fiat... yes that doesn't account for the transactions now, but as merchants accept more and infrastructure develops, if the speculation does drive the price up, I am assuming people will want to spend their (now more valuable) coins... obviously this comment also doesn't have much to do with the transaction volume affecting the price on the exchanges now, but on that subject I will also put forward the idea that it may not have much impact on the exchanges, as day to day purchases of coins to spend coins would be inefficient, I will assume that many people already have large stashes of coins they might spend.... finally also bear in mind that some of the philosophy of bitcoin (for some people, and anecdotally a majority) is not to spend spend spend to drive a consumerist economy. As mentioned before, just because the economy is not full of high volume transactions, doesn't mean it's not living and breathing.

Stream of consciousness waffle here so take it or leave it Shocked
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June 07, 2013, 11:08:47 PM
 #14110

shits getting deep.

Some are holding coins in order to spend them later when it's easier and safer and they can buy the normal things they would buy in their everyday life without a second thought, and without having to change back to fiat... yes that doesn't account for the transactions now, but as merchants accept more and infrastructure develops, if the speculation does drive the price up, I am assuming people will want to spend their (now more valuable) coins... obviously this comment also doesn't have much to do with the transaction volume affecting the price on the exchanges now, but on that subject I will also put forward the idea that it may not have much impact on the exchanges, as day to day purchases of coins to spend coins would be inefficient, I will assume that many people already have large stashes of coins they might spend.... finally also bear in mind that some of the philosophy of bitcoin (for some people, and anecdotally a majority) is not to spend spend spend to drive a consumerist economy. As mentioned before, just because the economy is not full of high volume transactions, doesn't mean it's not living and breathing.

Stream of consciousness waffle here so take it or leave it Shocked

Do you know what merchants do with payment solution that don't generate any sales?

If you get only a sale / month you wil drop it just because it's more of a hassle to work with it than the outcoming profit.

My fear is this might happen first.

later edit:
As usual people see my point of view as a bitcoin enemy and a non-believer.

For me , bitcoin is just an experiment , quite a funny one. I ended up using bitcoin by necessity and I have no god damn interest in price (besides making fun of bulls or bears).

For me its use is far more interesting.
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June 07, 2013, 11:12:21 PM
 #14111

so long term we are looking at what?

double dip recession with a dead cat bounce that falls into a depression  Huh

 Cheesy
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June 07, 2013, 11:16:06 PM
 #14112

shits getting deep.

Some are holding coins in order to spend them later when it's easier and safer and they can buy the normal things they would buy in their everyday life without a second thought, and without having to change back to fiat... yes that doesn't account for the transactions now, but as merchants accept more and infrastructure develops, if the speculation does drive the price up, I am assuming people will want to spend their (now more valuable) coins... obviously this comment also doesn't have much to do with the transaction volume affecting the price on the exchanges now, but on that subject I will also put forward the idea that it may not have much impact on the exchanges, as day to day purchases of coins to spend coins would be inefficient, I will assume that many people already have large stashes of coins they might spend.... finally also bear in mind that some of the philosophy of bitcoin (for some people, and anecdotally a majority) is not to spend spend spend to drive a consumerist economy. As mentioned before, just because the economy is not full of high volume transactions, doesn't mean it's not living and breathing.

Stream of consciousness waffle here so take it or leave it Shocked

Do you know what merchants do with payment solution that don't generate any sales?

If you get only a sale / month you wil drop it just because it's more of a hassle to work with it than the outcoming profit.

My fear is this might happen first.

I often wonder about this. People always mention the phenomenon of new vendors accepting Bitcoin -- through Bitpay, of course  Roll Eyes -- as a bullish indicator, but we never know what kind of volume this really amounts to. It's one of those things I've never been able to wrap my head around... because many new vendors accepting bitcoin could, in theory, amount to absolutely nothing.
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June 07, 2013, 11:16:24 PM
 #14113

And of course if i show you one of this charts

http://blockchain.info/charts/n-transactions
http://blockchain.info/charts/estimated-transaction-volume-usd

which are in total contradiction of the MASS adoption and people spending more and more bitcoins on different merchandise your gonna go in a denial phase.

Well , good luck with your bitcoin going from currency to commodity or .. collectibles.

I prefer another of the excellent blockchain.info charts. Excluding distortions such as Satoshi Dice, this one clearly illustrates the long term growth of the underlying bitcoin economy. The drawn support line indicates a growth rate of 10x every 14 months which approximately agrees with the corresponding long term support line for bitcoin prices.

The chart settings are log, smoothed and all data.

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June 07, 2013, 11:21:13 PM
 #14114

shits getting deep.

Some are holding coins in order to spend them later when it's easier and safer and they can buy the normal things they would buy in their everyday life without a second thought, and without having to change back to fiat... yes that doesn't account for the transactions now, but as merchants accept more and infrastructure develops, if the speculation does drive the price up, I am assuming people will want to spend their (now more valuable) coins... obviously this comment also doesn't have much to do with the transaction volume affecting the price on the exchanges now, but on that subject I will also put forward the idea that it may not have much impact on the exchanges, as day to day purchases of coins to spend coins would be inefficient, I will assume that many people already have large stashes of coins they might spend.... finally also bear in mind that some of the philosophy of bitcoin (for some people, and anecdotally a majority) is not to spend spend spend to drive a consumerist economy. As mentioned before, just because the economy is not full of high volume transactions, doesn't mean it's not living and breathing.

Stream of consciousness waffle here so take it or leave it Shocked

Do you know what merchants do with payment solution that don't generate any sales?

If you get only a sale / month you wil drop it just because it's more of a hassle to work with it than the outcoming profit.

My fear is this might happen first.

later edit:
As usual people see my point of view as a bitcoin enemy and a non-believer.

For me , bitcoin is just an experiment , quite a funny one. I ended up using bitcoin by necessity and I have no god damn interest in price (besides making fun of bulls or bears).

For me its use is far more interesting.


Dude, stop the Keynesian "deflationary currency leads to hoarding and hoarding is bad"-crap. People buy things, because they both want and need things. You cannot delay a purchase forever (post-mortem anyone?) so the fact that the underlying currency gains in value isn't going to stop economic traffic in the least *.

*Although in the beginning people might need to get used to this, but it will be temporary. People will need to get used that merely holding currency isn't voluntarily paying more taxes and that saving can actually be a good thing as opposed to the credit hungry society the west is these days. I don't have any debt, but I can assure you I'm a vast minority ....

Keynesians are like cockroaches Tongue
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June 07, 2013, 11:25:38 PM
 #14115

And of course if i show you one of this charts

http://blockchain.info/charts/n-transactions
http://blockchain.info/charts/estimated-transaction-volume-usd

which are in total contradiction of the MASS adoption and people spending more and more bitcoins on different merchandise your gonna go in a denial phase.

Well , good luck with your bitcoin going from currency to commodity or .. collectibles.

I prefer another of the excellent blockchain.info charts. Excluding distortions such as Satoshi Dice, this one clearly illustrates the long term growth of the underlying bitcoin economy. The drawn support line indicates a growth rate of 10x every 14 months which approximately agrees with the corresponding long term support line for bitcoin prices.



check the gambling section , cause I saw a 100x growth in gambling websites. and most of them aren't in the top 100.

but shoudn't we have a huge growth , with 100 merchants/day and 13k restaurants accepting bitcoins in the last two months.
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June 07, 2013, 11:32:04 PM
 #14116

Using smoothed log data for the blockchain.info chart on USD transaction volume, it is harder to draw a support trendline.

My rough effort gives a an increase of 100x every 20 months. By including all transactions we include speculation on the exchanges as well as commercial transactions.

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June 07, 2013, 11:33:07 PM
 #14117


Dude, stop the Keynesian "deflationary currency leads to hoarding and hoarding is bad"-crap. People buy things, because they both want and need things. You cannot delay a purchase forever (post-mortem anyone?) so the fact that the underlying currency gains in value isn't going to stop economic traffic in the least *.

*Although in the beginning people might need to get used to this, but it will be temporary. People will need to get used that merely holding currency isn't voluntarily paying more taxes and that saving can actually be a good thing as opposed to the credit hungry society the west is these days. I don't have any debt, but I can assure you I'm a vast minority ....

Keynesians are like cockroaches Tongue

Let me explain why I feel hoarding is bad , and not because of this keynesian b*** which i don't give a crap about.

Worst case scenario
We have people accumulating bitcoins , people not using bitcoins , price skyrocketing because bitcoin is such a great idea, and there are fewer and fewer bitcoins (people are stashing them)  until , some moroon realizes

Why the f*** is a bitcoin so pricey when you can't do anything with it.

You know what happens next. And this won't be a bubble burst.It's going a total bearpocalypse.
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June 07, 2013, 11:35:54 PM
 #14118


Dude, stop the Keynesian "deflationary currency leads to hoarding and hoarding is bad"-crap. People buy things, because they both want and need things. You cannot delay a purchase forever (post-mortem anyone?) so the fact that the underlying currency gains in value isn't going to stop economic traffic in the least *.

*Although in the beginning people might need to get used to this, but it will be temporary. People will need to get used that merely holding currency isn't voluntarily paying more taxes and that saving can actually be a good thing as opposed to the credit hungry society the west is these days. I don't have any debt, but I can assure you I'm a vast minority ....

Keynesians are like cockroaches Tongue


People have this all backwards.  Its not merchants that we need - it's earners.  We need to PAY people in BTC.  That's how you drive an economy.  Give people something valuable, and merchants will flock follow the money.  If those with millions of BTC would start paying hoards of programmers in BTC only, they will need spend that income, and that will drive the economy.  

If you want to make a river, pour water on the mountain top.
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June 07, 2013, 11:38:47 PM
 #14119


Dude, stop the Keynesian "deflationary currency leads to hoarding and hoarding is bad"-crap. People buy things, because they both want and need things. You cannot delay a purchase forever (post-mortem anyone?) so the fact that the underlying currency gains in value isn't going to stop economic traffic in the least *.

*Although in the beginning people might need to get used to this, but it will be temporary. People will need to get used that merely holding currency isn't voluntarily paying more taxes and that saving can actually be a good thing as opposed to the credit hungry society the west is these days. I don't have any debt, but I can assure you I'm a vast minority ....

Keynesians are like cockroaches Tongue


People have this all backwards.  Its not merchants that we need - it's earners.  We need to PAY people in BTC.  That's how you drive an economy.  Give people something valuable, and merchants will flock follow the money.  If those with millions of BTC would start paying hoards of programmers in BTC only, they will need spend that income, and that will drive the economy.  

If you want to make a river, pour water on the mountain top.

yup!
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June 07, 2013, 11:41:00 PM
 #14120


Dude, stop the Keynesian "deflationary currency leads to hoarding and hoarding is bad"-crap. People buy things, because they both want and need things. You cannot delay a purchase forever (post-mortem anyone?) so the fact that the underlying currency gains in value isn't going to stop economic traffic in the least *.

*Although in the beginning people might need to get used to this, but it will be temporary. People will need to get used that merely holding currency isn't voluntarily paying more taxes and that saving can actually be a good thing as opposed to the credit hungry society the west is these days. I don't have any debt, but I can assure you I'm a vast minority ....

Keynesians are like cockroaches Tongue


People have this all backwards.  Its not merchants that we need - it's earners.  We need to PAY people in BTC.  That's how you drive an economy.  Give people something valuable, and merchants will flock follow the money.  If those with millions of BTC would start paying hoards of programmers in BTC only, they will need spend that income, and that will drive the economy.  

If you want to make a river, pour water on the mountain top.

This is when you have faith in Silk Road's transaction and services. You gotta hand it to them they're still up and running.

I'm not trying to get into a back and forth about it but fact is but people love getting drugs in the mail, and with examples such as royal mail in the UK turning record profits thanks to amazon and ebay parcels flying through internet sales to customer's home.. the sheer volume of that.. so successfull it will be privatised, this is being experienced by many well run mail services and bitcoin is right at home for better of for worse to enable it..

So i hate to say but if you have faith in drug addiction keeping buyers coming .. not exactly the worst support for the economy.

You can also get fake IDs and range of other services. Underage kids always want to get fake IDs to buy booze. etc.

I dunno, for now the fact that is the currency of choice for these traders and has been despite the swings in price makes me somewhat confident in the long term success but indeed now is a bear market and I'm going to sleep full FIAT position doubtful I'm going to regret it..
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