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

[Richy_T]

It will be interesting to see how the US will react to the good news from MtGox. Up or Down? We will find out in about an hour from now.

I bet there will be fireworks.  Lots of fireworks.  And parades.

Pretty much, anyone who holds a hoard of BTC already sold or is out partying. As a British citizen in Texas, I don't know what the hell I will do today. Probably sleep because I was up all night again

Fireworks cancelled due to rain here. And flash flood warnings. Might be a good night to go canoeing.

[ChartBuddy]

[Rampion]

http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/

interesting

Wow, big news!

Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.

In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.

Edit: I agree lately we have only good news. As I like to say: Bitcoin is stronger than ever. But there is still a long way to go (should I remind you that the exchange that controls most of the market is "Magic The Gathering Online Exchange"? ), and the actual prices were shaken that a speculative bubble that popped. Now is time for speculators to take their profits (or cut their losses), and thus for the hype and price to go down, while serious infrastructure is built and important things happen at a "real economy" pace.

[Its About Sharing]

http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/

interesting

Wow, big news!

Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.

In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.

In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).

Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?

IAS

[Rampion]

http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/

interesting

Wow, big news!

Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.

In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.

In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).

Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?

IAS

Completely agree on the killer app. Right now, the only killer app of Bitcoin is Silk Road. It's genius, but more are needed to reach a next level.

[hlynur]

http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/

interesting

Wow, big news!

Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.

In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.

+1
most of us see btc from the 1st-world-perspective. it could be a good tool for such countries in many matters in the future, for example as a currency within a microcredit-system.

[Spaceman_Spiff]

In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).

Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?

I think volatility is indeed a big concern in developing countries, especially for the poor classes, plus the fact that they are in general probably less ingrained in the digital world.  
On the other hand, bypassing big infrastructure needs and probably less concern about financial regulations could make bitcoin very successful there.

[rezurect]

"M-PESA now has 10.5 million active users."
http://www.thinkm-pesa.com/2013/05/latest-m-pesa-statistics.html
they are not m-pesa r they?

[hmmmstrange]

In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).

Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?

I think volatility is indeed a big concern in developing countries, especially for the poor classes, plus the fact that they are in general probably less ingrained in the digital world.  
On the other hand, bypassing big infrastructure needs and probably less concern about financial regulations could make bitcoin very successful there.

It would not be nice if millions of 3rd world people couldn't afford to buy enough food to survive because Jaroslaw decided to dump his 100k's of coins on the market.

[Kazu]

In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).

Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?

I think volatility is indeed a big concern in developing countries, especially for the poor classes, plus the fact that they are in general probably less ingrained in the digital world.  
On the other hand, bypassing big infrastructure needs and probably less concern about financial regulations could make bitcoin very successful there.

It would not be nice if millions of 3rd world people couldn't afford to buy enough food to survive because Jaroslaw decided to dump his 100k's of coins on the market.

lol

[micalith]

I find it really hard to predict the top of these seemingly artificial long steady bull trap rises. Only telling factor I can think of is they'll keep going until the bid depth fills up enough to be worthwhile for a big dumper. Any other factors which may help estimate this?

[derpinheimer]

I find it really hard to predict the top of these seemingly artificial long steady bull trap rises. Only telling factor I can think of is they'll keep going until the bid depth fills up enough to be worthwhile for a big dumper. Any other factors which may help estimate this?

There are no more dumpers. Up from here.



Kidding aside, I think the trend is random for abt. a week, until withdraws start working properly.

Then deposits may start to flow back in. Enough to counter the withdraws? Who knows.

[ChartBuddy]

[gizmoh]

offtopic: http://kipochi.com/

For those that every dollar matters,No sane person is gonna use Bitcoin as means of Funds storage and Transfer, due to its high volatility. This service will end up like the Bitcoin ATM, buried before launch. Bitcoin is mainly a highly speculative commodity, at least for now.

As for the market,its the pause before the next round, july 4th rest?. Big Whales are absent, there is no support I'm confident fresh blood bath and new lows resuming soon, possibly Friday, the day for cash outs..

[bitcodo]

As for the market,its the pause before the next round, july 4th rest?. Big Whales are absent, there is no support I'm confident fresh blood bath and new lows resuming soon, possibly Friday, the day for cash outs..

So today is time for a movie

...
and tomorrow we go live?

[telemaco]

I might help you guys reach 72$ again

Please do so !

[Jozzaboy]

I might help you guys reach 72$ again

Please do so !

I'm so glad I completed my short and walked away 2 BTC richer. It's not worth it right now. Market too thin and we might very well break upwards on short term.

[ChartBuddy]

[Kazu]

I still think that we are going to have to go down to $57 again before an actual bull market can resume, so I'm not buying into this mini-rally. I don't think I'm going to sell into it either though, just in case I'm wrong.

[Jozzaboy]

It is about 15 minutes away from the end of it's triangle. I'm eagle-eyeing it before putting a short