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

[ensurance982]

I was just pointing out that this forum is rubbing off on your style, you are becoming more troll like in your posts...

That unfortunately is true, I feel that I have become more cynical with time.  Not because of this thread, I think, but of other threads I have been reading.   Some of them are beyond crazy, totally surreal.   

For example, reading the threads about Butterfly Labs, AMT, and other mining rig scams, I could not understand why the victims kept asking and pleading and discussing with the companies for almost a year, still accepting their phony explanations, promises, deals, upgrades -- even sending them more money.  Those clients must know that the CEO of one of those companies was convicted, not long ago, of running an international lottery scam that stole 25 million from old pensioners and such.  Being told so, a sane client should have stopped wasting time and gone straight to the police to file charges for fraud.  Why did their clients instead keep asking, whining, pleading, insulting, sometimes even praising the scammers?

Then I had an epiphany (what a swell word, must use it more often!  ): that is the way drug addicts interact with drug dealers who failed them.  They know that the merchant is a criminal and what he did to them was fraud.  But they of course won't go to the police, and know that he is the boss so their only hope is to convince him to deliver.  When they finally get some product from him, even if it is late, junk, and much less than they paid for, they will be thankful and forget the damage and come back the next day for more, nice and smiling.

Could it be that buying illegal drugs was the only non-trivial "business experience" that those clients had in their life?

I actually don't necessarily believe the metaphor of the drug dealer and the addict is the best fitting one. I guess it's just how human psychology and reasoning works. Why would they be afraid to go to the police, buying mining rigs isn't illegal, is it? It's more of the "I don't want to admit that I've been scammed" sentiment, combined with "I'll just go and keep telling myself they'll deliver eventually" - which is called wishful thinking. It's just trying to get out of the whole situation and trying to grasp every straw available!

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[ChartBuddy]

Explanation

[fonzie]

Lot of "emotional" trading going on right now. 
People seem to be nervous.

[chromosoma]

so bitcoin will  arrive  to its lowest mark this night, sad but true:)
Mybe it is over? Litecoin is almost dead, bitcoin next

[JorgeStolfi]

Why would they be afraid to go to the police, buying mining rigs isn't illegal, is it?

Indeed it isn't.  My point is that they are behaving as if it were, instead of doing what an ordinary customer should do when he gets scammed by an ordinary store.

Could be denial, as you say, ... but for nine months?

[BuyLowSellLower]

so bitcoin will  arrive  to its lowest mark this night, sad but true:)
Mybe it is over? Litecoin is almost dead, bitcoin next

Bitcoin has never been at a lower price... yeah. It's sad

[TankHankerous]

Im buying .1 btc per day as the price keeps dropping.  Swinging for the fences here fellas, ill be codling fir at least a few years.

I hereby announce codling will be the new way wr here at bitcoin talk refer to holding coins or hodling them.

Wait, what is tank doing with his coins?

I will codl them

[yefi]

Always ready to take responsibility for my positions and CUT MY LOOSE when I'm wrong.

I cut my loose once, stung like a bitch.

[njcarlos]

Always ready to take responsibility for my positions and CUT MY LOOSE when I'm wrong.

I cut my loose once, stung like a bitch.

Lmfao

[Sandia]

I have been trading pretty well this week, but I can't even guess which way we are moving for the next couple of hours.  Could be 495, could be 395.  Could sit at 460.  Hell if I can figure it out.

This is a scary market.

[Heartbit.io]

Really high volumes today

[njcarlos]

Scary is what will happen if (and after) we breach $360-380 levels

[Tyson95]

Only Tom Cruise can save us now

[fonzie]

8$ spreads @ Stamp. Trading like a headless chicken.

[empowering]

I was just pointing out that this forum is rubbing off on your style, you are becoming more troll like in your posts...

stuff

"When they finally get some product from him, even if it is late, junk, and much less than they paid for, they will be thankful and forget the damage and come back the next day for more, nice and smiling."

yeah... oorrrrr they shank the fuck out of the guy with a sharpened screwdriver and leave him full of holes in a puddle of his own blood and relieve him of his cash and stash... but I guess that depends on what neck of the woods you hail from.

Also are you talking from experience?  ha ha sounds like you are familiar with waiting around for shitty dealers to me.

Other than that, what a daft example you give.

[DutchTrades]

I still don't get this dump..

Like why did we go from $590 last week to $309 without any big news?

[FattyMcButterpants]

giggity giggity!!! anyone else get filled on BTCE? flash crash bids for the win! sitting on $3xx coins right now. what a beautiful morning!!!

[chromosoma]

I still don't get this dump..

Like why did we go from $590 last week to $309 without any big news?

maybe because of me, i started mining  right before the price gone down. Sorry

[FattyMcButterpants]

I still don't get this dump..

Like why did we go from $590 last week to $309 without any big news?

the only news has been an overwhelming bear market. hell, not even sure this is the last margin call cascade we will see. that's what it looks like anyway. someone probably dumped 2k+ coins and triggered a bunch of stops and then triggered a bunch of margin calls....

[empowering]

Only Tom Cruise can save us now