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

[Lopumbo]

GTFO you lying troll.

  - I bought Bitcoins, traded to ETH and mine some Monero...all within a timespan of 2 weeks...what's wrong with you?

[Arriemoller]

And that tells me you haven't taken economics 101.
How, prey tell, is a price determined?

Nothing is determined. You can have my morning turd...its unique and supply is limited to one.
Its price only depends on the amount of turd collectors. Same with bitcoin. As long as you find always new believers the rocket will fly.
A healthy economy needs some amount of inflation. Why should I buy something if my currency is more worth tomorrow. Yes I know this argument has a beard but enlighten me.

there is far better tech that will provide complete anonymity, and this tech can and will be added on top of bitcoin. ( third layer?? ahaha!)
right now things like Ether and Monero, bcash, they have an edge, somthing that adds utility and sets them apart.
but sooner then you realize, bitcoin will have better solutions then anyone of these altcoins... and then what are these altcoin worth? not a fucking thing....

Sure, "Bitcoin" has its name on it. This is a huge advantage and the fact that altcoins are currently traded with regard to its worth in Bitcoin as a base currency. That might fade. We'll see.

"Nothing is determined" yes it is, by supply and demand. if nobody wants to buy your turd the price is zero, as determined by the lack of demand.
And if you want to know how an economy without inflationary currency works, then study the Austrian school of economics, again, it's obvious that you know very little to nothing about economics.

[Elwar]

Calling the 30 day low at $2940.

[Dakustaking76]

Lol Everyone is losing Money who bought above €3000+
But this is insane we are at €2600...

[kurious]

Sure, "Bitcoin" has its name on it. This is a huge advantage

lol
it has way more then a well known brand name....

Good to see popping in, mate.  Still going strong here, we managed to rescue the thread.  Hope you're well.

[Arriemoller]

Vicabtc is closing end of september. this is just a start of shutdowns in China. Lets wait for others to follow.
Panic sells didn't start for now. lets wait for panic sells. Then we will start to buy at bottoms.

As I understand, the Chinese exchanges just need another license, it used to be labeled asset trading but now it is labeled currency trading. some of the trading platforms will not be applying for the new license and is shutting down.
Unfortunately China will continue to annoy us it seems.

[ask]

This is really interesting just open bittrex market and watch bittrex speed annot handle selling speed on btc.
Now Panic sell starts.!

[Lopumbo]

"Nothing is determined" yes it is, by supply and demand. if nobody wants to buy your turd the price is zero, as determined by the lack of demand.

Yeah sure, but what makes you so sure that a Bitcoin is more worth than my turd? Because currently everybody wants some?
Do you have reason to know that it is not a ponzi scheme?

And if you want to know how an economy without inflationary currency works, then study the Austrian school of economics, again, it's obvious that you know very little to nothing about economics.

Economic theories are not proofable and many people with nobel prizes in economy failed while trading stocks or do you think Markowitz Portfolio Theory captures reality?  
So you believe in Bitcoin backed up by theories about economy. And I believe in my (economic) theories. Nothing to battle about.

[Spaceman_Spiff_Original]

Do you have reason to know that it is not a ponzi scheme?

Perhaps by checking what a Ponzi scheme actually is and seeing whether bitcoin matches the criteria?

[mladen00]

China out, so what???
Polo, trex and others will have much more transfers

[Lopumbo]

Perhaps by checking what a Ponzi scheme actually is and seeing whether bitcoin matches the criteria?

In my humble opinion its current price is partly based on a pyramid schmeme...but that is the property of every bubble

[mastrox92]

China out, so what???
Polo, trex and others will have much more transfers

[toknormal]

Amtell'nye.

Don't be surprised to retest $1300 eventually.

We were at $890 only 5 months ago.

Prices need to be baked in.

It's a fact of life.

Accept it.

Swallow it.

Live it.

Trade it.

[Asrael999]

Perhaps by checking what a Ponzi scheme actually is and seeing whether bitcoin matches the criteria?

In my humble opinion its current price is partly based on a pyramid schmeme...but that is the property of every bubble

Rather like the USD government debt then , which depends either on selling more debt to new investors to pay off its existing investors or on creating more tokens to do the same. Point the finger of Ponzi or pyramid where it really belongs, central banks and managed fiat currency.

[Arriemoller]

"Nothing is determined" yes it is, by supply and demand. if nobody wants to buy your turd the price is zero, as determined by the lack of demand.

Yeah sure, but what makes you so sure that a Bitcoin is more worth than my turd? Because currently everybody wants some?
Do you have reason to know that it is not a ponzi scheme?

And if you want to know how an economy without inflationary currency works, then study the Austrian school of economics, again, it's obvious that you know very little to nothing about economics.

Economic theories are not proofable and many people with nobel prizes in economy failed while trading stocks or do you think Markowitz Portfolio Theory captures reality?  
So you believe in Bitcoin backed up by theories about economy. And I believe in my (economic) theories. Nothing to battle about.

Well, people are buying bitcoin, but not your turd, that proves that it is worth more than your turd. Basic economics.
It's not a Ponzi scheme because there is no Ponzi. From wikipedia " Operators of Ponzi schemes can be either individuals or corporations", bitcoin is neither.

[Elwar]

Nice to have the bear trolls back. It hasn't been the same without them. Not sure why they all left about 4 months ago...

[El duderino_]

China out, so what???
Polo, trex and others will have much more transfers

Haha lol posted This sentence also few times last days and actually have iT tattood on my arm....
Just a lebowski fan ......

https://m.youtube.com/watch?v=ZPYz6AWxjGk what a piece of art

[mastrox92]

I exclude 2900
https://twitter.com/ToneVays/status/907901596767604736

[Arriemoller]

Perhaps by checking what a Ponzi scheme actually is and seeing whether bitcoin matches the criteria?

In my humble opinion its current price is partly based on a pyramid schmeme...but that is the property of every bubble

So now it's a pyramid scheme all of a sudden, you do know that Ponzi scheme and pyramid scheme are two different things don't you?
Don't bother to answer that, it was rhetorical.

[Spaceman_Spiff_Original]

Perhaps by checking what a Ponzi scheme actually is and seeing whether bitcoin matches the criteria?

In my humble opinion its current price is partly based on a pyramid schmeme...but that is the property of every bubble

So now it it not a Ponzi but a pyramid schmeme?
No, a pyramid scheme is not part of every bubble.  
The worst you could accuse bitcoin of is being a pump-and-dump (but you could make that accusation of any investment vehicle).

EDIT: bottom in?