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

[yefi]

I think you'll need to bring a sickly orphan along to the interrogation and a foreign medical invoice. In fact a whole new cottage industry could spring up - vegetable rental. They get a cut of what you manage to get out.

I smell an opportunity!!

Using the Enterprise's transporter to break into Greek bank vaults would be a gross betrayal of Starfleet ethics.

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[empowering]

People, I'm thinking about something and would like to hear your opnions.

As it's confirmed, the chinese stock market became bearish.

Will the BTC exchanges and such be the new home for billions of Yuan's ?

no

And the reason is ?

Conservative Chinese investors are probably not in a hurry imo to rush from a bear market into BTC at least not in the billions and billions...(at least not right now)  millions and millions.... could be more feasible.

The Chinese investors are looking for safety, and have been  buying up gold and  foreign residential property and other hard assets (think roads, railways,stadiums, farms etc)  all around the globe, they are trying to escape flimsy paper assets + they already have enough paper based foreign debt (mainly USD)  In fact they have been slowly divesting themselves for quite some time from what I can gather.... I imagine they will continue to do so, and they will concentrate on hard assets overseas and the shiny metal that is a part of their culture historically.

BTC is not currently large enough and stable enough to be considered a safe haven during a time of crisis imo- yes this could change in the future, but the whole point of moving to a safe haven.... is that serious money needs to be SAFE  (i.e they want to have a good an idea as possible that they can retain value/and or generate income/profit)

Sure some funds could flow into BTC, speculative money, but not in the tens of billions of yuan (at least not from Chinese investors looking to move to a safe haven- tech and niche investors etc is a different matter)

We are just not there yet imo

(the irony is that billions and billions ($) flowing into the BTC market, would make it more stable, the thing is the infrastructure is not quite there YET, now when there are more reputable and secure and trusted exchanges on the scene....... then we will see)


ps- I try to avoid absolutes , heck anything could happen.....  Some of the macau good ol' boys could go on a insane BTC buying spree, I doubt they would be much interested in my point of view   and I certainly do not have their vantage point..

[empowering]

Check it out. Featuring our very own Jorge Stolfi:

http://motherboard.vice.com/read/bitcoin-is-unsustainable

Bitcoin can currently handle up to 360,000 transactions per day given current limitations built into the technology, according to Jorge Stolfi, a computer science professor from Campinas University in Brazil, so there’s some headroom left before things bog down.

It would be possible to bring down the average power cost of each transaction by modifying the underlying Bitcoin protocol, but that’s no easy feat. The Bitcoin community is currently debating a big change that would mean the network could theoretically handle about 7.2 million transactions a day on a comparable level of electricity consumption, according to Stolfi. That would require a majority of the people mining Bitcoin to agree to the change, however.

pffffffffffftttttt

Jorge is stepping out on us hey.

Thought he had been a bit on the quiet side of recent....  now we know why..

SHUNNNN!!!

SHUNNNN!!!

only kidding

[Dilla]

C'mon chinaaaaa 3 hunnit today

[BlindMayorBitcorn]

Check it out. Featuring our very own Jorge Stolfi:

http://motherboard.vice.com/read/bitcoin-is-unsustainable

Bitcoin can currently handle up to 360,000 transactions per day given current limitations built into the technology, according to Jorge Stolfi, a computer science professor from Campinas University in Brazil, so there’s some headroom left before things bog down.

It would be possible to bring down the average power cost of each transaction by modifying the underlying Bitcoin protocol, but that’s no easy feat. The Bitcoin community is currently debating a big change that would mean the network could theoretically handle about 7.2 million transactions a day on a comparable level of electricity consumption, according to Stolfi. That would require a majority of the people mining Bitcoin to agree to the change, however.

pffffffffffftttttt

Jorge is stepping out on us hey.

Thought he had been a bit on the quiet side of recent....  now we know why..

SHUNNNN!!!

SHUNNNN!!!

only kidding

That might be my favourite website. Now I must fawn on him like a god

[Erdogan]

The Greek referendum question makes (almost) no sense

http://www.bbc.co.uk/news/world-europe-33311422

I can translate that to modern greek:

After the government has loaned and wasted 100000 euro per person on socialistic common good, and at the same time destroyed the organic value creation capacity of greece, and now that nobody really want to lend more money, do you want the government to continue to do the same thing indefinitely with non-existing money?

[empowering]

Check it out. Featuring our very own Jorge Stolfi:

http://motherboard.vice.com/read/bitcoin-is-unsustainable

Bitcoin can currently handle up to 360,000 transactions per day given current limitations built into the technology, according to Jorge Stolfi, a computer science professor from Campinas University in Brazil, so there’s some headroom left before things bog down.

It would be possible to bring down the average power cost of each transaction by modifying the underlying Bitcoin protocol, but that’s no easy feat. The Bitcoin community is currently debating a big change that would mean the network could theoretically handle about 7.2 million transactions a day on a comparable level of electricity consumption, according to Stolfi. That would require a majority of the people mining Bitcoin to agree to the change, however.

pffffffffffftttttt

Jorge is stepping out on us hey.

Thought he had been a bit on the quiet side of recent....  now we know why..

SHUNNNN!!!

SHUNNNN!!!

only kidding

That might be my favourite website. Now I must fawn on him like a god

Surely this is your favourite website? or are you stepping out on us too? 

[AlexGR]

11 million greeks hit market buy with a measly 500$ and we get >32,000$ in <2 weeks.

>32,000$ in <2 years.

>32,000$ in <2 weeks. 

Right now I can't even spend 2$ with my credit card on ebay. Transactions are being rejected.

With banks closed etc, wires are not being processed. So outgoing money (Greece=>abroad) to buy btcs is out of the question for Greeks. The pump will not come from there.

This rise should not be about whether Greeks buy BTCs, but that Greece is a further example, after Cyprus, that people need to have control of their money and not be based on a centralized, government controlled system, that can confiscate their money (probable bail-in might be on the cards after the referendum, given the ECB threats), or render their money useless (digital euros right now are useless in Greece, compared to cash), or disallow them from transacting globally.

[empowering]

Capital controls is capital controls after all.

That one BTC atm machine in Athens jus ain't gonna cut it.

[Greendragon]

Meanwhile in Greece...

[ChartBuddy]

Coin
Explanation

[empowering]

Regardless of the Greek situation.....

Watch out for problems from some of the other southern European countries in the next few months.  (As they are almost in as much shit as Greece)

Especially if there is an actual Grexit.

[BlindMayorBitcorn]

Meanwhile in Greece...
[imgbloodyhorror[/img]

This is not cool

[Greendragon]

Would be pain in the ass when those burning police officers need to buy some anti fire cream with only 20 bucks/day

[empowering]

Meanwhile in Greece...

Are these actually recent images , as in from today?

[marcus_of_augustus]

Check it out. Featuring our very own Jorge Stolfi:

http://motherboard.vice.com/read/bitcoin-is-unsustainable

Bitcoin can currently handle up to 360,000 transactions per day given current limitations built into the technology, according to Jorge Stolfi, a computer science professor from Campinas University in Brazil, so there’s some headroom left before things bog down.

It would be possible to bring down the average power cost of each transaction by modifying the underlying Bitcoin protocol, but that’s no easy feat. The Bitcoin community is currently debating a big change that would mean the network could theoretically handle about 7.2 million transactions a day on a comparable level of electricity consumption, according to Stolfi. That would require a majority of the people mining Bitcoin to agree to the change, however.

The Trolfi cancer is metastasising.

[BlindMayorBitcorn]

Meanwhile in Greece...

Are these actually recent images , as in from today?

No.

http://www.theblaze.com/wp-content/uploads/2011/02/Greece-crisis.jpg

[empowering]

Check it out. Featuring our very own Jorge Stolfi:

http://motherboard.vice.com/read/bitcoin-is-unsustainable

Bitcoin can currently handle up to 360,000 transactions per day given current limitations built into the technology, according to Jorge Stolfi, a computer science professor from Campinas University in Brazil, so there’s some headroom left before things bog down.

It would be possible to bring down the average power cost of each transaction by modifying the underlying Bitcoin protocol, but that’s no easy feat. The Bitcoin community is currently debating a big change that would mean the network could theoretically handle about 7.2 million transactions a day on a comparable level of electricity consumption, according to Stolfi. That would require a majority of the people mining Bitcoin to agree to the change, however.

The Trolfi cancer is metastasising.

They cherry picked Jorge as it suited them.... I wonder if they found him on here  

[empowering]

Meanwhile in Greece...

Are these actually recent images , as in from today?

No.

http://www.theblaze.com/wp-content/uploads/2011/02/Greece-crisis.jpg

Good.

[BlindMayorBitcorn]

Meanwhile in Greece...

Are these actually recent images , as in from today?

No.

http://www.theblaze.com/wp-content/uploads/2011/02/Greece-crisis.jpg

Good.

History repeats itself

https://en.wikipedia.org/wiki/Greek_government-debt_crisis