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

[Richy_T]

The problem with that is if you want to outlaw all virtual currencies you have to make the laws broad enough to encompass any new configuration of a virtual currency that might arise. If you make it broad enough to accomplish that goal then you could very well end up inadvertently outlawing all non-local currencies, because at a broad level Bitcoin is indistinguishable from a real-world currency (as Judge Mazzant rightly pointed out). However, you would also make illegal more ‘legitimate’ virtual currencies such as Mint Chip, which is being incubated by the Canadian Mint currently. You’d probably end up making airline miles, zynga coins, and other such variations on the currency theme also illegal.  The upshot is that Bitcoin and all other virtual currencies or pseudo currencies cannot be made broadly illegal simply by virtue of the fact they are virtual, and current laws that define currency as a physical commodity or a financial instrument as written are hopelessly out of date and are essentially aiding the proliferation of Bitcoin.

Oh, it's not a bit problem, haven't you been watching the news? You simply make all virtual currencies illegal and only go after Bitcoin.

(Still wouldn't work, mind you).

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[Richy_T]

I still think that we just need to wait until all those merchants of cheap $1/$2 electronics on ebay work out they can sell stuff without ebay and paypal taking a huge cut. When that dam breaks, things will get interesting.

Commercial fees on eBay/Paypal on high volume are way lower than the ones you know. You might look somewhere else... alibaba.. those guys actually want to spare the conversion fees. They hardly accept paypal and mostly looking for western union/TT

Fair point.

[QuestionAuthority]

So what the hell is the deal with the 22 spread between CampBX and Gox?

[adamstgBit]

So what the hell is the deal with the 22 spread between CampBX and Gox?

we need a sticky thread with a good explanation.

MtGox price is being inflated by  people that don't want to sell their anymore, but tons of USD is still stuck their
Stamps / CampBX / virtex, price is being depressed by the mtgox traders moving and coming to sell.

[adamstgBit]

My money just cleared today, so I'm placing bids!  


desperately trying not to panic buy... 

[ShroomsKit]

I know you will come up with a bunch of excuses instead of admitting you're wrong.
But whatever.
http://bitcoinmagazine.com/bitpay-processes-5-million-in-march-eclipses-silk-road/
Keep in mind this is just from one merchant!

There are no excuses needed, just look at the dates. We are talking about consistency here.
ASIC pre-order waves are hardly that.

You're so predictable. Sad.

[ElectricMucus]

I know you will come up with a bunch of excuses instead of admitting you're wrong.
But whatever.
http://bitcoinmagazine.com/bitpay-processes-5-million-in-march-eclipses-silk-road/
Keep in mind this is just from one merchant!

There are no excuses needed, just look at the dates. We are talking about consistency here.
ASIC pre-order waves are hardly that.

You're so predictable. Sad.

Anything else? I offer myself as your steam valve, next time you feel like insulting somebody, insult me. I am already so used to it that I don't mind and you don't have to interrupt any other discussions.

[QuestionAuthority]

So what the hell is the deal with the 22 spread between CampBX and Gox?

we need a sticky thread with a good explanation.

MtGox price is being inflated by  people that don't want to sell their anymore, but tons of USD is still stuck their
Stamps / CampBX / virtex, price is being depressed by the mtgox traders moving and coming to sell.

Thanks, sorry I haven't been to this thread in a few days.

[adamstgBit]

fuck it feels good to be buying again after so long 

[justusranvier]

http://localbitcoins.blogspot.com/2013/08/localbitcoinscom-market-data-now.html

[adamstgBit]

http://localbitcoins.blogspot.com/2013/08/localbitcoinscom-market-data-now.html

So... how do they validate market depth?

Currently there are 538,111 Bitcoins for sale at 77.76 EUR. LOL.

correct me if i'm wrong but,

you don't need to send bitcoin to the site in order to place ask/bid

this gives 0 credibility to the order books, but it dose provide an interesting view, someone out there believes he can get 500,000coin for less then 77.76 EUR.

fill his order and watch him try!

[justusranvier]

I'm more interested in the volume data, as they can verify that.

[adamstgBit]

http://localbitcoins.blogspot.com/2013/08/localbitcoinscom-market-data-now.html

So... how do they validate market depth?

Currently there are 538,111 Bitcoins for sale at 77.76 EUR. LOL.

correct me if i'm wrong but,

you don't need to send bitcoin to the site in order to place ask/bid

this gives 0 credibility to the order books, but it dose provide an interesting view, someone out there believes he can get 500,000coin for less then 77.76 EUR.

fill his order and watch him try!

in order to sell coins on the site you must transfer them there, so as soon as someone buys some they get locked into escrow automatically. If you have no coins there you're advert will not show.

so their really are  538,111 Bitcoins for sale at 77.76 EUR.

very interesting.

now its showing over 1 million coins for sale 

[Richy_T]

now its showing over 1 million coins for sale 

[byronbb]

Chartbuddy should make some animated gifs.

[Adrian-x]

Chartbuddy should make some animated gifs.

I think molecular, did somthing similar a while back it is on YouTube.

[01BTC10]

Once MtGox resume normal withrawal:



Disclaimer: I'm a bull since 2011

[ElectricMucus]

I think this one sums it up:

[Walsoraj]

Gox will never resume normal withdrawals. think about it.

[ChartBuddy]