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

[fonzie]

Ethereum might become the biggest BTC rubbish dump next to MtGox. This will be fun to watch.

[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.

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

Ah, sure, I didn't mean "bad for bitcoin"... by negative impact on BTC/USD, I just meant a downward pressure on the price. The whole thing is a bit opaque, though. Not clear to me how much it could affect that.

[freedomno1]

Ethereum might become the biggest BTC rubbish dump next to MtGox. This will be fun to watch.

I decided I would buy it at market when it comes out here expecting a sudden dump on launch because people got tired of holding coins for months lol.
Get my discount rate 

[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.

Ah, sure, I didn't mean "bad for bitcoin"... by negative impact on BTC/USD, I just meant a downward pressure on the price. The whole thing is a bit opaque, though. Not clear to me how much it could affect that.

There are almost 4k BTC minted daily. ... ( so wait one more week)

[MoreFun]

Ethereum might become the biggest BTC rubbish dump next to MtGox. This will be fun to watch.

25k BTC = $15M

So investors think that their stock will outperform Bitcoin and that stock also has similar crash possibility. Acctually this investment is at least 5 - 10 times more risky than Bitcoin with same rewards.

Neo & Bee anyone? 

[Torque]

Ethereum might will definitely become the biggest BTC rubbish dump next to MtGox, Neo & Bee, and Maxcoin. This will be fun to watch.

FTFY 

[freedomno1]

Ethereum might become the biggest BTC rubbish dump next to MtGox. This will be fun to watch.

25k BTC = $15M

So investors think that their stock will outperform Bitcoin and that stock also has similar crash possibility. Acctually this investment is at least 5 - 10 times more risky than Bitcoin with same rewards.

Neo & Bee anyone?  

Na this time we have to many faces and interviews with people to have them do a plausible Neobee escapade
Although if it becomes another wheres Mark case that would be amusing

[Odalv]

Ethereum might become the biggest BTC rubbish dump next to MtGox. This will be fun to watch.

25k BTC = $15M

So investors think that their stock will outperform Bitcoin and that stock also has similar crash possibility. Acctually this investment is at least 5 - 10 times more risky than Bitcoin with same rewards.

Neo & Bee anyone? 

after 5k sell out, only $12M remains

[hdbuck]

LMAO, you can buy 1880 ETH per BTC now,

or

Mircea Popescu is offering up 5000 ETH per BTC in 8 months from now, 2.5x more ETH per BTC than the best rate being offered by Ethereum during the Genesis Sale.vii Effectively, MP is allowing you to “go long” ETH.

http://contravex.com/2014/07/23/a-guide-to-buying-5000-ether-bitcoin-2-5x-more-than-ethereums-genesis-sale/

ata deal!

[MoreFun]

Ethereum might become the biggest BTC rubbish dump next to MtGox. This will be fun to watch.

25k BTC = $15M

So investors think that their stock will outperform Bitcoin and that stock also has similar crash possibility. Acctually this investment is at least 5 - 10 times more risky than Bitcoin with same rewards.

Neo & Bee anyone?  

Na this time we have to many faces and interviews with people to have them do a plausible Neobee escapade
Although if it becomes another wheres Mark case that would be amusing

Thats nothing more than altcoin with all the lalalala... they come up with in a bit different story. IPO is pump and dump situation, yea you can make 10x in 1 month, but every shitcoin that went this way came back to the floor sooner or later. So just gambling, not safe investment comparing to at least BTC (no saying BTC is safe). For coding and servers you don't need $15M, just a crowd of sheep to believe it and deliver precious BTC. This should be project for VC not BTC small sheeps.

At the end it doesn't matter what way investors will lose money - run from owners, business crash or whatever...

[Davyd05]

Ethereum might become the biggest BTC rubbish dump next to MtGox. This will be fun to watch.

25k BTC = $15M

So investors think that their stock will outperform Bitcoin and that stock also has similar crash possibility. Acctually this investment is at least 5 - 10 times more risky than Bitcoin with same rewards.

Neo & Bee anyone?  

Na this time we have to many faces and interviews with people to have them do a plausible Neobee escapade
Although if it becomes another wheres Mark case that would be amusing

Thats nothing more than altcoin with all the lalalala... they come up with in a bit different story. IPO is pump and dump situation, yea you can make 10x in 1 month, but every shitcoin that went this way came back to the floor sooner or later. So just gambling, not save investition comparing to at least BTC (no saying BTC is safe). For coding and servers you don't need $15M, just a crowd of sheep to believe it. This should be project for VC not BTC small sheeps.

At the end it doesn't matter what way investors will lose money - run from owners, business crash or whatever...

In the end we have bitcoin already, we can change and upgrade as a group...so why make an entirely different system...my rationale agrees that with the pump and dump play.

[Odalv]

LMAO, you can buy 1880 ETH per BTC now,

or

Mircea Popescu is offering up 5000 ETH per BTC in 8 months from now, 2.5x more ETH per BTC than the best rate being offered by Ethereum during the Genesis Sale.vii Effectively, MP is allowing you to “go long” ETH.

http://contravex.com/2014/07/23/a-guide-to-buying-5000-ether-bitcoin-2-5x-more-than-ethereums-genesis-sale/

ata deal!

vultures are attracted ($15M is the nice price)

[freedomno1]

Actually just read a statement on the etherum page about how the Bitcoins will be distributed
https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

So expect some movement in the next 48 hours I guess

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.

[aminorex]

monkey says down

[MoreFun]

monkey says down

Monkey bought Ethereum? 

[molecular]

sentiment of bitcoiners seems quite negative against ethereum.

people fear what they don't understand, I guess. Or maybe it's envy these guys are being swamped with coins.

btw: not saying ETH is a good investment, I have strong doubts. Ethereum being successful does not necessaril imply ETH will be valuable.

also: I'm not endorsing ethereum, I just think it's highly interesting, mainly from a technical perspective and for the implications it might have (which I can't yet fully imagine). Unsure who's really behind it, either, and what the larger plan is there...

One thing I can say for sure, though: comparing ethereum to any old altcoin pump & dump is just fucking lame. If you do that you're either too lazy to take a look at what it is and therefore ignorant, or you are hostile against it for some reason and spreading fud.

[derpinheimer]

monkey says down

Your monkey dun' broke. Definitely up!

Edit: Actually, I'm not that confident. But I think it should make another move up a few dollars at the minimum (even if its only to $595 again)

[MoreFun]

sentiment of bitcoiners seems quite negative against ethereum.

people fear what they don't understand, I guess. Or maybe it's envy these guys are being swamped with coins.

btw: not saying ETH is a good investment, I have strong doubts. Ethereum being successful does not necessaril imply ETH will be valuable.

also: I'm not endorsing ethereum, I just think it's highly interesting, mainly from a technical perspective and for the implications it might have (which I can't yet fully imagine). Unsure who's really behind it, either, and what the larger plan is there...

One thing I can say for sure, though: comparing ethereum to any old altcoin pump & dump is just fucking lame. If you do that you're either too lazy to take a look at what it is and therefore ignorant, or you are hostile against it for some reason and spreading fud.

It is interesting yea as a concept (and they still didn't deliever) and like I said this is project for VC and not Bitcoiners who mostly want to increase their BTC count - so most of investors will be dissapointed probably.

And to answer your last paragraph, I just wanted to warn BTC holders if they care about their BTC count the investment is very risky.

[Odalv]

sentiment of bitcoiners seems quite negative against ethereum.

people fear what they don't understand, I guess. Or maybe it's envy these guys are being swamped with coins.

btw: not saying ETH is a good investment, I have strong doubts. Ethereum being successful does not necessaril imply ETH will be valuable.

also: I'm not endorsing ethereum, I just think it's highly interesting, mainly from a technical perspective and for the implications it might have (which I can't yet fully imagine). Unsure who's really behind it, either, and what the larger plan is there...

One thing I can say for sure, though: comparing ethereum to any old altcoin pump & dump is just fucking lame. If you do that you're either too lazy to take a look at what it is and therefore ignorant, or you are hostile against it for some reason and spreading fud.

I'm only impressed by the fact they was able to earn 25k btc

[molecular]

In the end we have bitcoin already, we can change and upgrade as a group...so why make an entirely different system...

lol. change and upgrade? we can't even agree on what to do with the blocksize limit... a minor change compared to what would be necessary to "upgrade" bitcoin to something like what ethereum wants to be.

I suggest we let Bitcoin be what it is and only carefully make necessary changes. Let it fulfill the basic functions of money (store of wealth, simple transactions) and not fuck with that.

We can add "higher functions" on top or setup new systems for them (and use Bitcoin to bootstrap value and community). I see no problem.