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

[ChartBuddy]

Explanation

[LFC_Bitcoin]

Nothing to get excited about but it'd be nice to see $400 in the next week or two.

[Wandererfromthenorth]

RIP Blake Benthall  
Life in prison FFS.

[Thomas-s]

https://twitter.com/blakeeb/status/516076171977441280
HAHAHAHAHHA

[NotLambchop]

...
On the contrary, Good Professor. It's Statist who conflate "regulated" with "state-regulated". Regulation is too important to be left to governments. It's in the economic best interest of industries to self-regulate when they are not tempted to externalize costs with the help of the State.

And the difference between "no regulation" and "self-regulation" is?

Underwriter Laboratories is a good example. http://en.wikipedia.org/wiki/UL_%28safety_organization%29 Industries are incentivized to adopt standard best practices.

I asked for the difference between self-regulation and no regulation.
You gave me a link to this:
"UL is one of several companies approved to perform safety testing by the US federal agency Occupational Safety and Health Administration (OSHA)."
I'd like an answer, not a non-sequitur.

In your factory fire example, you need to understand that employers face competition for labor the same way workers face competition for jobs. A worker would choose to work in a safe workplace, all things else being equal. Farmers were maiming themselves with their own machinery in their own fields at the same time, but no government rescue there. Why? Because maybe a factory fire makes a good story. You need a bad guy for conflict and drama. To argue that workplace safety is a constant tension between higher productivity and safety until new practices and technology ratchet the standards higher is kind of boring.

Yes, hungry girls will work unsafe, degrading jobs because need trumps everything else.  What point are you trying to make?  That we should return to the Triangle Shirtwaist Factory days?  Sweatshops?  Child labor?  
Or are you asking for greater regulation of farm equipment safety?

Self regulation is a standard, set by producers, maybe in the form of a free association, where each producer can freely choose to follow the standard or not. Self regulation sometimes succeeds in producing good quality products or products that interoperate well, because the customers in the market want it, too, thereby expanding the market.

Self-regulation, in practice, gave us the likes of Triangle Shirtwaist Factories.  When self-regulation failed, governments stepped in.  Stifling productivity/economic growth is in no one's interest. Your government can't tax you on the money you don't make.
More recent (and lulzy) example of Bitcoin businesses practicing self-regulation:


https://bitcointalk.org/index.php?topic=521520.msg9451926#msg9451926

*Not even mentioning all the Bitcoin "businesses" self-regulating on Havelock, CryptoStocks and other self-regulated "securities exchanges"--that's a whole other bundle of lel.

[LFC_Bitcoin]

RIP Blake Benthall  
Life in prison FFS.

Shame.
I have no problem with drugs, taken close to everything myself but he knew what the risks were.

[FNG]

  When self-regulation failed, governments stepped in.  

Because Governments know what they're doing...
http://www.forbes.com/sites/kashmirhill/2013/10/07/the-nsas-hugely-expensive-utah-data-center-has-major-electrical-problems-and-basically-isnt-working/

[NotLambchop]

  When self-regulation failed, governments stepped in.  

Because Governments know what they're doing...
http://www.forbes.com/sites/kashmirhill/2013/10/07/the-nsas-hugely-expensive-utah-data-center-has-major-electrical-problems-and-basically-isnt-working/

Did it torch up like a mountain of old tires? 

[Phillis]

has shroomskit bought back in yet? If so, time to leverage it all. #shroomskitindicator

[podyx]

SR2 really getting taken down??

[Torque]

Oh look. Already a new wall at 350. Because no matter what we just have to go down. That apparently is the only thing that counts for traders. We just must go down. No other option. Down down down. Only way to make money.

https://www.youtube.com/watch?v=dCe6e23yIT8
 

Why do you care so much? We'll be up again, sooner or later.

Maybe because we've been going down for a year and i'm tired of it?
Every single rally gets almost instantly stopped with dumps and walls. Every single one of them.
The buying will stop one day. It really will. One day everyone will be like fuck this thing and move on.
Traders don't seem to understand this or simply don't care.

No this will not happen.  I share your frustration, but its just something we longs have to endure, remember there is no easy path.  Look at this rally for instance, this is actually unprecedented (over the last 6 months).  It has been dumped on, but it's the shorts who have thrown in the towel mostly.  A phenomenon not seen in many many months.

Shroomie is right.  This shit has been going on for nearly a year now.  There is no rally.  I have extreme confidence that I'll still be able to buy BTC in the lower 300's come March-April 2015.

Of course the market is welcome to prove me wrong, but I'm still not seeing it go anywhere for at least another 6-8 months.

[NotLambchop]

SR2 really getting taken down??

D00d didn't know when to walk away

[FNG]

  When self-regulation failed, governments stepped in.  

Because Governments know what they're doing...
http://www.forbes.com/sites/kashmirhill/2013/10/07/the-nsas-hugely-expensive-utah-data-center-has-major-electrical-problems-and-basically-isnt-working/

Did it torch up like a mountain of old tires? 

No but they did spend over $1 billion dollars on a facility that doesn't function

Which is worse?

[LFC_Bitcoin]

https://twitter.com/blakeeb/status/516076171977441280
HAHAHAHAHHA

What is that site he mentions?
www.haaaaay.com?

[NotLambchop]

  When self-regulation failed, governments stepped in.  

Because Governments know what they're doing...
http://www.forbes.com/sites/kashmirhill/2013/10/07/the-nsas-hugely-expensive-utah-data-center-has-major-electrical-problems-and-basically-isnt-working/

Did it torch up like a mountain of old tires?  

No but they did spend over $1 billion dollars on a facility that doesn't function

Which is worse?

>Cowboyminer: Smallfry, possibly facing angry creditors into contact sports.

>NSAS: Inexhaustible supply of $$$, which are "printed out of thin air" anyhow.

Who's in deeper shit?

[FNG]

  When self-regulation failed, governments stepped in.  

Because Governments know what they're doing...
http://www.forbes.com/sites/kashmirhill/2013/10/07/the-nsas-hugely-expensive-utah-data-center-has-major-electrical-problems-and-basically-isnt-working/

Did it torch up like a mountain of old tires? 

No but they did spend over $1 billion dollars on a facility that doesn't function

Which is worse?

>Cowboyminer: Smallfry.

>NSAS: Inexhaustible supply of $$$

Who's in deeper shit?

So we went from who's more incompetent to who's in more trouble financially? Nice switch-a-roo

cowboyminer - 1 guy or a group of investors take a loss
NSA facility - entire U.S government plan fails and tax payers get fucked..even though it's an expenditure that I'm sure they hope fails

[spooderman]

Shrooms, what you don't seem to understand is that the sells and walls could very well be the people who bought and started the rally in the first place. No one can dump without having bought.

It's like night and day, cold and hot. You can't have one without the other.

And there will most likely always be more people getting into bitcoin than out.

However whether that necessarily means a continually rising price is another question.

[Thomas-s]

https://twitter.com/lamoustache/status/530406246189654017

[podyx]

SR2 really getting taken down??

D00d didn't know when to walk away

geez, fucking amateurs, what the fuck...

[ssmc2]

https://twitter.com/lamoustache/status/530406246189654017

Just wow