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

[hdbuck]

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below.  The only way that value gets transferred lower down the pyramid is to find more suckers below.  None of these listed items are pyramid schemes, unless they are designed as such.  Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

this is exactly what I was trying to say, you just did it better, thanks.

looks like you quoted yourself.

[mmitech]

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below.  The only way that value gets transferred lower down the pyramid is to find more suckers below.  None of these listed items are pyramid schemes, unless they are designed as such.  Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

this is exactly what I was trying to say, you just did it better, thanks.

[mmitech]

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below.  The only way that value gets transferred lower down the pyramid is to find more suckers below.  None of these listed items are pyramid schemes, unless they are designed as such.  Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

this is exactly what I was trying to say, you just did it better, thanks.

looks like you quoted yourself.

fixed, thanks

[Odalv]

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".


https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

 ... seems like, people love to throw out money. :-)

[JayJuanGee]

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below.  The only way that value gets transferred lower down the pyramid is to find more suckers below.  None of these listed items are pyramid schemes, unless they are designed as such.  Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

this is exactly what I was trying to say, you just did it better, thanks.

NO matter what you were trying to say, pyramid scheme does NOT apply to bitcoin.  That is the main point that should be taken from this. 

You can attempt to retroactively fix whatever it was that you were trying to say, but what would be better would be if you would attempt to be more accurate in what you are attempting to claim regarding bitcoin.

Thanks for your efforts....

[JayJuanGee]

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below.  The only way that value gets transferred lower down the pyramid is to find more suckers below.  None of these listed items are pyramid schemes, unless they are designed as such.  Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

you know a sucker like you and me who made Satoshis and the winklevoss and ...... coins more valuable, the last ones in the pyramid will have 0 vale when Bitcoin collapse (it will collapse at one point in the future).

and it is a pyramid, because at the start people created the coin of nothing, well, except the few cents consumed by the processor on power, they hoarded and pumped the value so more suckers jumped in through time. I am one of them BTW.

well yea, it is genius that it solved a mathematical problem....same like tampon did solve a problem if you ask a woman.

Just because there is a decent potential that Bitcoin could collapse at one day in the future does NOT cause bitcoin to be a pyramid scheme or early adopters to be suckers. 

There are a lot of potential scenarios for a bitcoin collapse and some of those scenarios involve a near immediate collapse, other scenarios involve a long and drawn out collapse and other scenarios involve a collapse that is hundreds of years in the future.

In other words, your giving great weight to a potential and in your implied "inevitable collapse" of bitcoin does NOT provide sufficient specifics in order to  denigrate it's current status to some sort of "scheme."

I will argue that it wont be hundred of years, I dont know even if it will last 20 years before it collapses, there is many theories why it would happen, we've talked about it many times, the thing is I think the world in 10-20 years is not going to be the same as we see it today, I dont think the fiat systems will hold for long as well, but I am trying to figure out what the outcome will be...

the wars that are happening now will have a huge impact on the picture of our lives in the next 20 years (if we will be safe to live that long), and I just dont see Bitcoin in the picture.

O.K..... So fucking what?   If BTC does NOT last 20 years, then who gives a flying fuck.  There is a lot of time between NOW and 20 years to adjust our investment portfolio.

  We are investing today, and we can cross that next investment decision bridge when we get there or if we get there.  For NOW, BTC is one of the best investment vehicles in town.... so why NOT invest into it, and see where it goes?     If in 1 year or 2 years or 5 years, we need to reassess the situation and reassess our investment portfolio, then we will reassess the situation at that time.

[windjc]

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".


https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

 ... seems like, people love to throw out money. :-)

One of the most amazing things I've ever seen.

[JayJuanGee]

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".


https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

 ... seems like, people love to throw out money. :-)

One of the most amazing things I've ever seen.

What is so amazing?  They sold a bunch of Ethereum, and then they are cashing out in increments in order to pay for some "business expenses."   Are the amounts off or what?

[mmitech]

O.K..... So fucking what?   If BTC does NOT last 20 years, then who gives a flying fuck.  There is a lot of time between NOW and 20 years to adjust our investment portfolio.

  We are investing today, and we can cross that next investment decision bridge when we get there or if we get there.  For NOW, BTC is one of the best investment vehicles in town.... so why NOT invest into it, and see where it goes?     If in 1 year or 2 years or 5 years, we need to reassess the situation and reassess our investment portfolio, then we will reassess the situation at that time.

I don't know why you are frustrated ? did I say it is not ? because now you are putting words on my mouth, the thing is like we say here: you are jerking off the air, I don't understand about what you are getting pissed off?

[windjc]

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".


https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

 ... seems like, people love to throw out money. :-)

One of the most amazing things I've ever seen.

What is so amazing?  They sold a bunch of Ethereum, and then they are cashing out in increments in order to pay for some "business expenses."   Are the amounts off or what?

The fact that people have already donated 25K+ btc to Etherium and when/if it launches the market is going to crash.

Meanwhile, Ether is inflationary and its market concepts work to lessen the value of Ether over time as well.

Its a horrible horrible investment. Horrible.

And yet countless people are throwing their money away at it.

[scarsbergholden]

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".


https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

 ... seems like, people love to throw out money. :-)

One of the most amazing things I've ever seen.

What is so amazing?  They sold a bunch of Ethereum, and then they are cashing out in increments in order to pay for some "business expenses."   Are the amounts off or what?

The fact that people have already donated 25K+ btc to Etherium and when/if it launches the market is going to crash.

Meanwhile, Ether is inflationary and its market concepts work to lessen the value of Ether over time as well.

Its a horrible horrible investment. Horrible.

And yet countless people are throwing their money away at it.

Wow, that's a lot of BTC people put in. Never understood why I should buy Ether, myself. Any thoughts on whether this 25k+ BTC might have a negative impact on BTC/USD?

[Odalv]

Wow, that's a lot of BTC people put in. Never understood why I should buy Ether, myself. Any thoughts on whether this 25k+ BTC might have a negative impact on BTC/USD?

I think only negative impact on ETH stockholders.

[Davyd05]

The intent is to withdraw 4150 BTC from our exodus address within the next 48 hours. We reserve the right to withdraw up to 850 BTC more if needed before the end of the 42 day duration of the sale, but at this point it is likely that the remainder of the BTC in the address will remain unused until the sale ends. Of this amount, 2650 BTC will be distributed to pay for loans for prior expenses. Individuals who have contributed loans to the project will receive repayment in BTC directly; “we” will not be selling any portion of this 2650 BTC on exchanges ourselves, although individuals may choose to independently convert the BTC that they receive into fiat after the fact. Individuals also have the choice of taking the repayment in ether; in those cases, we will simply not send the BTC, and once all repayments have been processed we will publish all of the additional ETH that has been sold in this way (note that this is equivalent to sending individuals their BTC and letting the recipients send it right back into the exodus). The remaining 1500 BTC will be sent to a wallet controlled by ĐΞV, our development arm, and will be used to establish our sites in Berlin and Amsterdam and begin hiring developers; some of this amount may be converted into EUR, GBP or CHF (eg. to pay for rent), and the remainder will be held as BTC.

[hdbuck]

Wow, that's a lot of BTC people put in. Never understood why I should buy Ether, myself. Any thoughts on whether this 25k+ BTC might have a negative impact on BTC/USD?

I think only negative impact on ETH stockholders.

yes, once they sold btc, there wont be any valuable asset left.

[ChartBuddy]

Explanation

[scarsbergholden]

Wow, that's a lot of BTC people put in. Never understood why I should buy Ether, myself. Any thoughts on whether this 25k+ BTC might have a negative impact on BTC/USD?

I think only negative impact on ETH stockholders.

But in the blog, they're talking about literally dumping some of the BTC on the market for expenses payable in fiat currency. How much is not clear. I suppose those with debt payable in BTC were likely to have held in the first place, though.

[hdbuck]

Explanation

round and round and round again

[Odalv]

Wow, that's a lot of BTC people put in. Never understood why I should buy Ether, myself. Any thoughts on whether this 25k+ BTC might have a negative impact on BTC/USD?

I think only negative impact on ETH stockholders.

But in the blog, they're talking about literally dumping some of the BTC on the market for expenses payable in fiat currency. How much is not clear. I suppose those with debt payable in BTC were likely to have held in the first place, though.

It is very good for Bitcoin. Cheap coins will change hands.

[MoreFun]

12h-1d-3d all look kinda bullish, but short term and 1w looks meh.


However i have a feeling that market will just give up on going 570< at some point, unless there will be some kind of fuel to it

I am 95% most of the 3500 BTC between $590-$600 is fake on Stamp. Someone is trying to cap the price over the weekend.

If we don't fall back to $580 before China makes one more big move up, $600 is going to fall on Stamp quicker than it looks, imho.

For right now, it feels like we are coiling, with a move upward feeling more and more likely.

Not most but probably 35 - 50%. It forces users to sell low and to visualize high resistance and price move down. Through the weekend they will probably snatch at least additional 5k+ coins under $600 and then if it will be enough they will eat / pull their asks and walls to move up.

I am almost sure GABI is doing this and if they don't they should at least learn how to do that. But they probably already have whale with experiences to do that. So, sellers will soon find out that they sold very low and were tricked.

[freedomno1]

Wow, that's a lot of BTC people put in. Never understood why I should buy Ether, myself. Any thoughts on whether this 25k+ BTC might have a negative impact on BTC/USD?

I think only negative impact on ETH stockholders.

But in the blog, they're talking about literally dumping some of the BTC on the market for expenses payable in fiat currency. How much is not clear. I suppose those with debt payable in BTC were likely to have held in the first place, though.

25 K bitcoin for the Ether Project will put some selling pressure on the price
That said I doubt they would dump it all at once also have a minor called Storj.io raising right now
Another 1 - 2 K bitcoin likely
https://www.betmoose.com/bet/how-many-bitcoins-will-the-storj-crowdsale-raise-696