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

[bitcodo]

This is funny. Somebody wanted to trademark BITCOIN. For barware http://tsdr.uspto.gov/documentviewer?caseId=sn86135516&docId=APP20131207074254#docIndex=11&page=1
But registration was refused http://ttabvue.uspto.gov/ttabvue/v?pno=91219797&pty=OPP&eno=5

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[oda.krell]

Counter question: "Why do most people (mostly) trust their governments?"

Now that is a question worth asking!

Well, I'm aware a lot of people in here give a different answer to that question than I do

Was what you said earlier about it your full answer? I am interested in your thoughts about this.

I don't think I have a full answer. I don't think people can ever fully trust their governments, but a) not all governments (more generally: institutions of a society) are equal, i.e. there are "better" governments (and government forms) than others, and b) I don't think the absence, or almost total reduction of government would be an improvement either.

A government is just a set of rules society (sort of) agreed upon a long time ago, and then just trudges along that rule set, election to election, complaining increasingly more until: boom. revolution

Seriously though, I see crypto as another method of citizens to control the influence the government can wield *if and when* they collectively disagree with the direction the government is taking.

That's all. If the majority of the people is still more or less in favor of, say, social welfare (and I think the majority is, in many countries), then crypto won't change that. But it *does*  for example allow people to "route around" certain arbitrary restrictions placed by the government that many don't agree with, or disagree with once they become aware of it. Is see the similarity here to copyright vs. widespread "pirating" of copyrighted material: there is a very clear, very widely held idea that it's not "stealing" to download a movie, many people do it, and they *can* do it, even though the law says they aren't allowed to. Eventually, the law will likely change, because the facts of what people are actually doing have changed.

[podyx]

Shocking interview! - In the mind of an altcoin developer

https://www.youtube.com/watch?v=cIasr2AiyZ0

[NotLambchop]

Good God, look at yourselves!  Pegged $280 on BFX, shameless!
Why are you such a constant source of disappointment, Bitcoiners?

*Good morning, gentlemen

[Tzupy]

Houston, we have a problem...

[YourMother]

[ghandi]

Looks like the party is over

[ChartBuddy]

Coin
Explanation

[NotLambchop]

Looks like the party is over

Bitcoin not ded!!1!

[aztecminer]

yep....i amupset atm ........obviously i need moar coins to trade with.

[YourMother]

Looks like the party is over

BUT WHAT ABOUT MA' YACHT ?

[aztecminer]

Looks like the party is over

Bitcoin not ded!!1!

and we don't have to worry about gimpple ripple anymore either! lol .

[aztecminer]

Looks like the party is over

party is over everytime a 'chinese miner' dumps ..

[NotLambchop]

Yeah, party's over bulls, your house's trashed, and there's some cow passed out in your parents' room.*
*They're pulling into the drive now.

[Mervyn_Pumpkinhead]

The price hasn't even touched the line where true resistance begins.
Only at around 400$, will some miners start to see some ROI, who have accumulated through 2014.
Bitcoin is having a very difficult time to even overcome the range where sell pressure is actually low.

[ImI]

Trolls back in the cave. they will come out once the price drops 3$.

and here they are.

so pathetic.

[simmo77]

Where are all the Ripple shills?  

[oda.krell]

Trolls back in the cave. they will come out once the price drops 3$.

and here they are.

so pathetic.

They're not exactly subtle, are they Like the DDoS attacks timed to co-occur with a dump in the old gox days.

I doubt whether it's effective though. Probably more for their own amusement than actually having any real effect.

[Norway]

The money that sits on saving accounts are not real money, because they exist in two or more places simultaneously. A dollar that sits on your saving account is at the same time lended to somebody else and sits on their current account too.

I'm sorry, but I really have to disagree with your analysis. You are making a distincion between real and not real/duplicated money. But you are actually describing inflation/money printing. This process is not the same as the definition of M2. However, I agree that fractional reserving can be done with bitcoin for companies like Coinbase / bitcoin banks.

The (simplified) definition of M2 is M1 + savings accounts + term accounts. Most of money on savings and term accounts are IOUs, since bank doesn't actually have them, they are lended by the bank to somebody else (that's why we earn interest on these accounts). That's why M2 = M1+IOU. Granted, it is all simplified. But it's OK for our purpose, which was estimating MB, since only MB fiat will be replaced by blockchained bitcoin.

[KryptoFoo]

zoom out, looks like a normal pullback. Profit taking, new shorts, TA, whatever the reason, the thing to watch is how this dip is handled - with dip buying or more selling?