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

[relm9]

FTC appointed receiver is to convert ~24'000 BTC seized from BFL (and EMC?) to cash "on a systematic and reasoned basis"
https://bitcointalk.org/index.php?topic=150803.msg9427254#msg9427254

Bitcoin doesn't seem to respond so much to "news"

Yeah.

The USMS auction happened on June 27.  In the 4 days prior the price dropped from 600$ to 560$, then recovered to 600$. After the auction it remained at 600$ for another 3 days, then shot up to 650$, perhaps on rumors that Draper had paid over market.  But that 650$ was merely a return to the high of June 2-10.  It may well be that those swings had nothing to do with the auction.

Yes, but Draper has become a punch line since his bid and nobody is going to be dumb enough to high bid an uber ton of coins, again. You have these coins and the ones in Australia or New Zealand or wherever the f---, too. You basically are going to have roughly 50,000 more coins hitting the market at the same time that the Winklevi are trying, more or less, to dump their coins. This s--- is officially dead. I am opening a short. This s--- is beyond f---ing dead.

Eh, 50K coins (not sure where you got that number from specifically, but anyway) is not a big deal in the grand scheme of things. We saw how fast the market ate up 30K coins at $300

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[octaft]

Everything we do, see, eat, smell, feel are all inputs to our brain and they all cause an output. If you are simply defining anything that effects your brain as a drug, then every single thing in this entire world is a drug and since that has no exclusion criteria, it thus would make that term useless.

It has to be a chemical to be considered a drug.

Ok, then define "chemical". On the most basic level it could be defined as an atom or arrangement of atoms. Therefore breathing oxygen (non-concentrated) is a drug.

But on a more physical level, shouldn't photons also be considered a chemical since they are particles and also have "receptors" and influence our brains? That would then support my claim of everything we see being a drug.


As far as chemical vs medicine, that is purely just a difference in what the substance is used for.

I have a Bachelors in Science in Biology and Chemistry with post-graduate education in a similar field. If you start listing every food item as a drug, the definition is all inclusive.

The word "Drug" should be limited to substances that are either potent by nature or are in a concentrated form that can produce an acute physiological change in our bodies.

How does that apply? Normal oxygen concentrations of about 21% at sea level pressures does not cause a change and therefore isn't a drug. Abuse of 100% oxygen is highly concentrated and causes many physiological changes, and thus could be classified as "drug" abuse.

This topic is completely unrelated to bitcoin, so this is where I end my discussion on the topic.

the "exclusion criteria" is a chemical substance that has a known biological effect on the body, with the main effect not being one of nourishment (so excluding foods).

I would consider breathing air to be nourishment, and huffing oxygen to not be nourishment, so we are not in disagreement. No need to throw e-degrees at me and pull the old "lets not be off-topic but I want to get the last word in so here's some off-topic stuff but now you don't get a chance to respond haha" trick.

[lyth0s]

Everything we do, see, eat, smell, feel are all inputs to our brain and they all cause an output. If you are simply defining anything that effects your brain as a drug, then every single thing in this entire world is a drug and since that has no exclusion criteria, it thus would make that term useless.

It has to be a chemical to be considered a drug.

Ok, then define "chemical". On the most basic level it could be defined as an atom or arrangement of atoms. Therefore breathing oxygen (non-concentrated) is a drug.

But on a more physical level, shouldn't photons also be considered a chemical since they are particles and also have "receptors" and influence our brains? That would then support my claim of everything we see being a drug.


As far as chemical vs medicine, that is purely just a difference in what the substance is used for.

I have a Bachelors in Science in Biology and Chemistry with post-graduate education in a similar field. If you start listing every food item as a drug, the definition is all inclusive.

The word "Drug" should be limited to substances that are either potent by nature or are in a concentrated form that can produce an acute physiological change in our bodies.

How does that apply? Normal oxygen concentrations of about 21% at sea level pressures does not cause a change and therefore isn't a drug. Abuse of 100% oxygen is highly concentrated and causes many physiological changes, and thus could be classified as "drug" abuse.

This topic is completely unrelated to bitcoin, so this is where I end my discussion on the topic.

the "exclusion criteria" is a chemical substance that has a known biological effect on the body, with the main effect not being one of nourishment (so excluding foods).

I would consider breathing air to be nourishment, and huffing oxygen to not be nourishment, so we are not in disagreement. No need to throw e-degrees at me and pull the old "lets not be off-topic but I want to get the last word in so here's some off-topic stuff but now you don't get a chance to respond haha" trick.

Not at all, you're free to continue to discuss it. I'm just saying that I'm personally not going to argue the point anymore.


Looks like the Winklevoss bro's got smashed: http://seen.co/event/money2020--2014-6605/highlight/575322

[Walsoraj]

Twitter was brutal on the Winklevoss twins ...

That's unfortunate. But, I heard that presentations by Ripple Labs members were well received. 

[lyth0s]

Twitter was brutal on the Winklevoss twins ...

That's unfortunate. But, I heard that presentations by Ripple Labs members were well received. 

Is there not a Ripple forum? Or do you just need more people to buy your ripple with their bitcoins?

[Walsoraj]

Twitter was brutal on the Winklevoss twins ...

That's unfortunate. But, I heard that presentations by Ripple Labs members were well received. 

Is there not a Ripple forum? Or do you just need more people to buy your ripple with their bitcoins?

Sorry, I was trying to express my sympathy for the Winklevii.

[lyth0s]

Twitter was brutal on the Winklevoss twins ...

That's unfortunate. But, I heard that presentations by Ripple Labs members were well received. 

Is there not a Ripple forum? Or do you just need more people to buy your ripple with their bitcoins?

Sorry, I was trying to express my sympathy for the Winklevii.

There has to be a reason though why you hang out on a bitcoin forum, when really it seems like your interest is in Ripple. Why not discuss ripple with people that are also interested in the same crypto?

[Walsoraj]

Twitter was brutal on the Winklevoss twins ...

That's unfortunate. But, I heard that presentations by Ripple Labs members were well received. 

Is there not a Ripple forum? Or do you just need more people to buy your ripple with their bitcoins?

Sorry, I was trying to express my sympathy for the Winklevii.

There has to be a reason though why you hang out on a bitcoin forum, when really it seems like your interest is in Ripple. Why not discuss ripple with people that are also interested in the same crypto?

I slip sometimes. I'm really pro-bitcoin. GO Bitcoin GO, rah rah RAH! See.

[Walsoraj]

I might be a sadist as well. 

[JayJuanGee]

Wow, I just became $200 poorer in the past two minutes. Fascinating.

Wow, I just became 140.000$ poorer in the past 11 months, after becoming 200.000$ richer. Fascinating.


Quiz game: How many BTCs I do have?

Thanks for the puzzle... NOT that I have anything better to do with my time, at the moment.

Well, if you are being honest with your presentation of your personal situation, then I am assuming that you bought all of your coins before the latest ATH. 

Accordingly, give or take 5 BTC, you have approximately 177 BTC, and you invested about $6,000.

I am NOT sure exactly how I calculated it, but the numbers seem to add up more or less.   

[fonzie]

Waiting for that epic battle @~300$. Popcorn is ready.  
ETA: < 48h

[noobtrader]

Or that. I can see that too

i have to admit this market is boring lately...

It is always a bit boring before it gets wild and crazy.

great, just great...

now we are back where we were started... gezzz im feel more and more sound like shroomie...

thank you bear...

[noobtrader]

I might be a sadist as well.  

bro...

if you dealing with banker or a lawyer make sure you read all the fine print and make sure they sign before you...

thanks

hint: they eat sadist like a popcorn

[ChartBuddy]

Explanation

[BitAddict]

Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?

[BitChick]

Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?

So is depression and despair all it takes to get this bubble started.

OK then.   
Bitcoin is dead!  It is going nowhere!   

(we can go up now)

[BitAddict]

Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?

So is depression and despair all it takes to get this bubble started.

OK then.  
Bitcoin is dead!  It is going nowhere!  

(we can go up now)

Words need to be followed by actions, or it doesn't mean anything.
And anyway, even if we reached bottom (which maybe not) bitcoin is not probably going to rally any time soon. First it needs boring months of consolidation, where people can start forgetting how painful is going down for months. So they can start slowly gaining confidence and buying again.

[BitChick]

Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?

So is depression and despair all it takes to get this bubble started.

OK then.  
Bitcoin is dead!  It is going nowhere!  

(we can go up now)

Words need to be followed by actions, or it doesn't mean anything.
And anyway, even if we reached bottom (which maybe not) bitcoin is not probably going to rally any time soon. First it needs boring months of consolidation, where people can start forgetting how painful is going down for months. So they can start slowly gaining confidence and buying again.

I thought we already have several boring months of consolidation?  It has been a very long year.

[BitAddict]

Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?

So is depression and despair all it takes to get this bubble started.

OK then.  
Bitcoin is dead!  It is going nowhere!  

(we can go up now)

Words need to be followed by actions, or it doesn't mean anything.
And anyway, even if we reached bottom (which maybe not) bitcoin is not probably going to rally any time soon. First it needs boring months of consolidation, where people can start forgetting how painful is going down for months. So they can start slowly gaining confidence and buying again.

I thought we already have several boring months of consolidation?  It has been a very long year.

Going down, down and more down doing lower lows and lower highs in a dead cat bounce is not a consolidation... is a downtrend.

[BitChick]

Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?

So is depression and despair all it takes to get this bubble started.

OK then.  
Bitcoin is dead!  It is going nowhere!  

(we can go up now)

Words need to be followed by actions, or it doesn't mean anything.
And anyway, even if we reached bottom (which maybe not) bitcoin is not probably going to rally any time soon. First it needs boring months of consolidation, where people can start forgetting how painful is going down for months. So they can start slowly gaining confidence and buying again.

I thought we already have several boring months of consolidation?  It has been a very long year.

Going down, down and more down doing new lows in a dead cat bounce is not a consolidation.

Has the Bitcoin price ever really flat lined?  I think it has been fairly steady for a while.  All of October was around $350.