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

[jbreher]

Most people are still so dumb that they don't even realise what money is, how it is created, or how they are being robbed. It might take a generation for this sort of change to come about. ie, they die off and are replaced by (hopefully) more intelligent informed people.

FTFY.

If you are counting on subsequent generations becoming smarter, I am afraid you will be sorely disappointed. If anything, average intelligence will decrease, due to the fact that society subsidizes stupidity, allowing the incompetent to survive to procreational age, and 'nurture' their defective genetic offspring through to their subsequent dependent 'adulthood'.

And having worked in the financial servies indusrty I KNOW that we are years away from incorportaing complex derivatives onto 'the blockchain'. Not only would it be technically extrememly difficult, but this is also where all the 'off balance sheet' transactions occur and it will be fought tooth and nail. Stock ownership using satoshis is trivial by comparison. Lets see how Nasdaq Private Market gets on first before drawing any conclusions about how deep 'this blockchain' can permeate.

Good. The financialization of derivatives is a theft of wealth from the rest of us. Derivatives are not true wealth. You can't eat a derivative, and a derivative cannot paint your house. Absolutely worthless in terms of things that add value to human lives. The only value that they have is gained in skimming purchasing power from everyone else.

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[Richy_T]

Coindesk has picked up the story and gives the same account as that reddit post translation of the original Nikkei story.  I'm surprised he hasn't been charged until now, but it often takes the police a long time to gather evidence. How long would his sentence be if he's found guilty of all charges?

Forget gathering evidence, it probably took a long time just to work out wtf they could charge him with.

[ChartBuddy]

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[ChartBuddy]

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[ChartBuddy]

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[Brewins]

$2-3 fall by day.

steady and slow, yay

[stopthe_bomb]

and down we are going D:

[JorgeStolfi]

But the more you understand the world around bitcoin, the more you should become disillusioned about bitcoin as a competitor to the traditional finance system. It is maybe better for a online payment system... But there is no REAL problem with the traditional Kredit-Card / PayPal /Skrill / SEPA system...

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments.   While the system works well enough for most  transactions, ...

[Brewins]

But the more you understand the world around bitcoin, the more you should become disillusioned about bitcoin as a competitor to the traditional finance system. It is maybe better for a online payment system... But there is no REAL problem with the traditional Kredit-Card / PayPal /Skrill / SEPA system...

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments.   While the system works well enough for most  transactions, ...

except by the fees or when the gov block you from accessing bank stuff, like happened in Greece and other countries in different times

[coinpr0n]

It sure isn't taking very much to push the price down a few dollars. Went to bed with the ask walls popping up and wake up to this. Nothing major, but for now the upward momentum has been squashed.

[ChartBuddy]

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[ChartBuddy]

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[Bagatell]

But the more you understand the world around bitcoin, the more you should become disillusioned about bitcoin as a competitor to the traditional finance system. It is maybe better for a online payment system... But there is no REAL problem with the traditional Kredit-Card / PayPal /Skrill / SEPA system...

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments.   While the system works well enough for most  transactions, ...

except by the fees or when the gov block you from accessing bank stuff, like happened in Greece and other countries in different times

Bitstamps debit card fees..

Transaction type   Fee
Fee for loading up to $1000.00   $10.00
Fee for loading more than $1000.00   2%
Purchase Fee (in-store/online)   $0.35
Purchase with Cashback   $3.45
Credits for Refund   $0.35
PIN Retrieval   $0.75
Cash Withdrawal   $3.45
Cash Withdrawal Decline   $0.55
Account Monthly   $1.95
Replacement Card Fees (lost or stolen)   $15.00
Dormancy   $5.00
ATM Balance Inquiry   $1.00

[noobtrader]

281 testing   or is it karpeless dumping coin ?

[Karpeles]

The dump has begun, cut your looooses while you can. Another failed 300 break try

[stopthe_bomb]

The dump has begun, cut your looooses while you can. Another failed 300 break try

too funny
good one

karpeles

[Gyrsur]

Well, if community would want the price to go up no market maker would be strong enough to push the price down... Everyone (existing bitcoiners) should simply buy one more bitcoin and hold it for a month or two.

my opinion is that the demand is too low for a strong upward trend at the moment. but the situation maybe change after the halfing next year.

[Gyrsur]

we are testing again. crowd want to see the price go down.

[ChartBuddy]

Coin
Explanation

[GaliX]

But the more you understand the world around bitcoin, the more you should become disillusioned about bitcoin as a competitor to the traditional finance system. It is maybe better for a online payment system... But there is no REAL problem with the traditional Kredit-Card / PayPal /Skrill / SEPA system...

Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments.   While the system works well enough for most  transactions, ...

except by the fees or when the gov block you from accessing bank stuff, like happened in Greece and other countries in different times

you know how expensive a bitcoin TX is without the subsidized Blockreward would be?
The ~50$ a current transaction costs makes the traditional system look cheap as fuck...


Somebody has to pay all the THs of mining power burning all the electricity 24/7...

Well, if community would want the price to go up no market maker would be strong enough to push the price down... Everyone (existing bitcoiners) should simply buy one more bitcoin and hold it for a month or two.

my opinion is that the demand is too low for a strong upward trend at the moment. but the situation maybe change after the halfing next year.

I think that demand is big enough... Fact is that someone with lots of coins is shitting around for a year now. Also community has changed big time and bitcoin use to grow on it.
Halving sure will bring the spike! Many are already buying coins just because of that, after all it is less than a year until halving 

Not really... A real demand is almost not existing. It's purely driven by speculation ...