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

[empowering]

Has this been here already? Just a rumor, but still this is HUGE.

http://nypost.com/2014/06/25/its-david-vs-goliath-in-race-to-launch-nys-first-regulated-bitcoin-exchange/

No one cares.

Of course they do.

ShroomsKit is delusional

His point was, no one is buying up bitcoins like crazy because of this rumor.  Hell, no one is buying up bitcoins like crazy over any good news right now, and they haven't been for months.  So no, he's not delusional.

Right, and my point being people do care, a lot of vested interest and time and effort and treasure is being put into the ecosystem, by people that care, that are banking , investing on the fact that when they launch, lots more people will care..
I care a lot more about that, than I do if someone on a forum thinks people care or not, when in fact plenty of people do care..
the connect between the "care" and the price will eventually surface. Not just from these guys but all of the money flowing into developing the ecosystem, there is a lot of care filtering its way down to y'all right now as we speak...

[1715352921]

1715352921

[1715352921]

1715352921

[1715352921]

1715352921

[1715352921]

1715352921

[fonzie]

http://www.bbc.com/news/world-europe-jersey-27921445

...and no-one cares.

Should the price go to (1)800$ immediately. Would you consider this as an appropriate reaction?

[Hunyadi]

http://www.bbc.com/news/world-europe-jersey-27921445

...and no-one cares.

Should the price go to (1)800$ immediately. Would you consider this as an appropriate reaction?

Yes, sir.

[ShroomsKit]

Has this been here already? Just a rumor, but still this is HUGE.

http://nypost.com/2014/06/25/its-david-vs-goliath-in-race-to-launch-nys-first-regulated-bitcoin-exchange/

No one cares.

Of course they do.

I was being sarcastic. Just pointing out that no amount of good news will increase the price while a fart can cause a mass sell off.

[empowering]

Has this been here already? Just a rumor, but still this is HUGE.

http://nypost.com/2014/06/25/its-david-vs-goliath-in-race-to-launch-nys-first-regulated-bitcoin-exchange/

No one cares.

Of course they do.

I was being sarcastic. Just pointing out that no amount of good news will increase the price while a fart can cause a mass sell off.

Good news maybe not, real world progress and developments will.

[CoinHamster]

Has this been here already? Just a rumor, but still this is HUGE.

http://nypost.com/2014/06/25/its-david-vs-goliath-in-race-to-launch-nys-first-regulated-bitcoin-exchange/

No one cares.

Of course they do.

I was being sarcastic. Just pointing out that no amount of good news will increase the price while a fart can cause a mass sell off.

...and here is the next one coming around.
I can smell somthing. 
Huobi did just break out downwards... (the ascending trendline)
 

[Richy_T]

By the way, if you did NOT catch this,  mmitech is supposedly religiously opposed to earning interest on his money (nothing against religions), except for some reason he believes it is o.k. and not against his religion to invest in btc, ltc and seemingly in other cryptos, if they were to strike his peculiar fancy.

He appears to be correct according to the dogma of his religion. However, it should be noted that adherents tie logic in knots in order to allow loans to have an interest-like attachment without actually calling it interest. Humans do tend to rationalize.

[Untitled87]

By the way, if you did NOT catch this,  mmitech is supposedly religiously opposed to earning interest on his money (nothing against religions), except for some reason he believes it is o.k. and not against his religion to invest in btc, ltc and seemingly in other cryptos, if they were to strike his peculiar fancy.

He appears to be correct according to the dogma of his religion. However, it should be noted that adherents tie logic in knots in order to allow loans to have an interest-like attachment without actually calling it interest. Humans do tend to rationalize.

Religion, not even once

*tip*

[ChartBuddy]

Explanation

[Krabby]

By the way, if you did NOT catch this,  mmitech is supposedly religiously opposed to earning interest on his money (nothing against religions), except for some reason he believes it is o.k. and not against his religion to invest in btc, ltc and seemingly in other cryptos, if they were to strike his peculiar fancy.

He appears to be correct according to the dogma of his religion. However, it should be noted that adherents tie logic in knots in order to allow loans to have an interest-like attachment without actually calling it interest. Humans do tend to rationalize.

Religion, not even once

*tip*

[ShroomsKit_Disgrace]

Reading about mmitech issue makes me wonder...

How do the Muslims deal with banks? Interest = 0%??

serious question.

[oda.krell]

Guys, I'm not a professional quote maker (yet), but I must say it...

In this moment, I am euphoric. Not because of any phony god’s blessing. But because, I am enlightened by my intelligence.

[Untitled87]

Reading about mmitech issue makes me wonder...

How do the Muslims deal with banks? Interest = 0%??

serious question.

By killing each other

[Asrael999]

Reading about mmitech issue makes me wonder...

How do the Muslims deal with banks? Interest = 0%??

serious question.

If I understand it correctly , Muslims are not permitted to earn interest on money, this is "Riba" and is forbidden.
What they can do is receive rent for an asset they own - so a Muslim may buy an apartment, a physical good, and receive rent for allowing someone else to use it.
Given that bitcoin is not a physical thing on which one can earn a return I would have thought it was a bit of a grey area for Islamic finance anyway. Equities are ok as are securitizations as in those you buy the right to a series of cashflows that derive from a real asset, bitcoin hmm, tricky.

[ShroomsKit_Disgrace]

Reading about mmitech issue makes me wonder...

How do the Muslims deal with banks? Interest = 0%??

serious question.

If I understand it correctly , Muslims are not permitted to earn interest on money, this is "Riba" and is forbidden.
What they can do is receive rent for an asset they own - so a Muslim may buy an apartment, a physical good, and receive rent for allowing someone else to use it.
Given that bitcoin is not a physical thing on which one can earn a return I would have thought it was a bit of a grey area for Islamic finance anyway. Equities are ok as are securitizations as in those you buy the right to a series of cashflows that derive from a real asset, bitcoin hmm, tricky.

Thanks for the info!

[aminorex]

All human systems will be gamed.

A quick ride to 800 is not all that unlikely, after the auction.  It is major resistance after all.  I would expect an initial continuation of the down-trend, as those who want the auction to pump the market are disappointed, and give up.  When they are done, and the fiat is warmed up, then the upside will be seen.

Look at the last two swings.  The upswing was quite rapid, and the downswing relatively gradual.  Most people are trained on equities.  They know that bull markets are gradual things, climbing a proverbial wall of worry, while bear markets are panic driven, often rapid, sometimes sudden.  But in pair trades like BTCUSD, either component can be in a bull or bear market, so inverting the chart, we see that the current condition is characteristic of a bullish swing in USD, following a quick bearish swing during the latter part of May.  I would not extend this interpretation to the November spike because the topping phase of a hype cycle is a very different dynamic, with different motivations.  

What I draw from this is that holders of BTC have a need of USD.  Given the volumes we are seeing, it might even be that a single seller is driving the trend.  The 500/8hr guy finally succumbed to his wife's insistence on diversifying into u.s. equity mutual funds like all the "wise" financial advice (propaganda) would insist. (Sorry dude, you are doomed now, unless you can hold those funds until 2040 and USD can last that long.)

I don't think the USD bull market can last much longer.  USDJPY is certainly turning.  Very different dynamics, of course, but post-SCO outlook for USD is changing rapidly on several fronts.  Faith in ECB persists while faith in FRB is flagging.  Trade is being re-denominated (and simultaneously shrinking) so that US fiat exports face lower demand.  RMB floats in 2015.  Iran is exporting a lot of oil to China now.  

I'm simplifying for brevity, telling a story by telegraphy.

[ChartBuddy]

Explanation

[Richy_T]

Ok, i have 2 simple questions.
It's clear that this small auction completely controls the market. The market is filled with fear. It's reasonable to assume we even already went down 30 dollars because of this (which is insane btw).
Apparently people expect a rally or a dump depending on the outcome.

1: What will cause the rally and what will cause the dump?
2: Why is this considered so extremely important at the moment?

I really must be missing something. Hopefully someone can fill me in.

When no one really wants to buy and no one really wants to sell, it doesn't take much to move the price.

[mmitech]

Reading about mmitech issue makes me wonder...

How do the Muslims deal with banks? Interest = 0%??

serious question.

If I understand it correctly , Muslims are not permitted to earn interest on money, this is "Riba" and is forbidden.
What they can do is receive rent for an asset they own - so a Muslim may buy an apartment, a physical good, and receive rent for allowing someone else to use it.
Given that bitcoin is not a physical thing on which one can earn a return I would have thought it was a bit of a grey area for Islamic finance anyway. Equities are ok as are securitizations as in those you buy the right to a series of cashflows that derive from a real asset, bitcoin hmm, tricky.

on a side note, I am not a Muslim fanatic, I question things very often and I don't care about what any book says, I have to be convinced to believe in things.

the 0% interest is a great thing to be honest, it simply doesn't allow a loaning economy to exist (free money) yet give the chance for businesses and individuals to achieve goals without using them, some could argue that the interest is the benefit that you get for risking your money, yes true to some point but in all economies it turns out to be the free money from the bank and back to the bank, the huge interest is generated from thin air and add nothing to the community, in fact it just encourage greed and laziness and gives a fake pump to the economy.

But how can a bank get income and pay for salaries and and all other costs ? well it is simple an Islamic bank isn't by the western definition a bank, it is a commercial institution, it is not a bank per se, you never get cash as a loan... you need a car? they buy you the car and rent it to you for a tiny profit until you become the owner, you need to buy a house ? they negotiate to buy it for you with the owner and you can live in it and pay "rent" for a time you agreed upon until you pay the whole price and you become the owner, you cant sell it untill you pay, simply you are not the owner of anything until you pay it off.  

think of leasing as the closer to an Islamic loan but with way less fees.


Bitcoin is like commerce, you buy it for $10 and you sell it for the best bidder, it could be $5 or $500, so it is not a gray area, it as clear as it can get, this is what most Arabs did for a living for centuries.

[ShroomsKit]

Reading about mmitech issue makes me wonder...

How do the Muslims deal with banks? Interest = 0%??

serious question.

If I understand it correctly , Muslims are not permitted to earn interest on money, this is "Riba" and is forbidden.
What they can do is receive rent for an asset they own - so a Muslim may buy an apartment, a physical good, and receive rent for allowing someone else to use it.
Given that bitcoin is not a physical thing on which one can earn a return I would have thought it was a bit of a grey area for Islamic finance anyway. Equities are ok as are securitizations as in those you buy the right to a series of cashflows that derive from a real asset, bitcoin hmm, tricky.

Religious nutters.