Bitcoin Forum
August 19, 2018, 10:06:12 AM *
News: Latest stable version of Bitcoin Core: 0.16.2  [Torrent].
 
   Home   Help Search Donate Login Register  
Poll
Question: Aug. 16 Closing Price:
$5,500-$6,000 - 29 (17.4%)
$6,000-$6,500 - 27 (16.2%)
$6,500-$7,000 - 27 (16.2%)
$7,000-$7,500 - 14 (8.4%)
$7,500-$8,000 - 9 (5.4%)
$8,000-$8,500 - 15 (9%)
$8,500-$9,000 - 10 (6%)
$9,000-$9,500 - 7 (4.2%)
$9,500-$10,000 - 29 (17.4%)
Total Voters: 167

Pages: « 1 ... 18081 18082 18083 18084 18085 18086 18087 18088 18089 18090 18091 18092 18093 18094 18095 18096 18097 18098 18099 18100 18101 18102 18103 18104 18105 18106 18107 18108 18109 18110 18111 18112 18113 18114 18115 18116 18117 18118 18119 18120 18121 18122 18123 18124 18125 18126 18127 18128 18129 18130 [18131] 18132 18133 18134 18135 18136 18137 18138 18139 18140 18141 18142 18143 18144 18145 18146 18147 18148 18149 18150 18151 18152 18153 18154 18155 18156 18157 18158 18159 18160 18161 18162 18163 18164 18165 18166 18167 18168 18169 18170 18171 18172 18173 18174 18175 18176 18177 18178 18179 18180 18181 ... 21095 »
  Print  
Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 20389718 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 2688
Merit: 1085



View Profile
November 02, 2017, 11:46:22 PM

you guys really think that this will go on forever? What when the whole US population has a wallet on Coinbase?

most of you guys still don't get it ... the "whole US population" is pretty much broke, even though the US is still near top of per capita wealth globally.

Wealth is incredibly concentrated at the top of the pyramid, arguably more so than at any other time in history. bitcoin doesn't need to go "mainstream" to achieve crazy valuations, capturing just few percents of total wealth, since the mainstream is basically broke. If bitcoin did go mainstream before the top 0.1% went in to bitcoin then that would be the greatest economic revolution and rebalancing of wealth inequality witnessed in history, so I'd be very skeptical that adoption will play out like that. Most likely the wealthy will want to remain wealthy and try to front run the mainstream, as they always do, that means very few "Coinbase users".

There's something like 2,050 billionaires in the world and ~200,000 UHNWI (>$30million). A small percent of these 202,000 people allocating a small percent of wealth to bitcoin is most likely what is happening. That is not to say this relatively small group of people aren't influenced by evidence of millions of people joining Coinbase and other bitcoin sites. But most likely they are chasing gains like everyone else or actually need to use bitcoin to move some funds around the globe frictionlessly, permissionlessly.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1534673172
Hero Member
*
Offline Offline

Posts: 1534673172

View Profile Personal Message (Offline)

Ignore
1534673172
Reply with quote  #2

1534673172
Report to moderator
1534673172
Hero Member
*
Offline Offline

Posts: 1534673172

View Profile Personal Message (Offline)

Ignore
1534673172
Reply with quote  #2

1534673172
Report to moderator
micgoossens
Sr. Member
****
Offline Offline

Activity: 420
Merit: 557


yeah,well you know that's just like your opinion


View Profile
November 02, 2017, 11:46:47 PM

So maybe the possibility to reach 7700 before the star wars relaese becomes close :-)
niners
Newbie
*
Offline Offline

Activity: 19
Merit: 0


View Profile WWW
November 02, 2017, 11:55:12 PM

"Coinbase Adds A Record 100,000 Bitcoin Traders In One Day"

zerohedge...its in your bookmarks

[img]

http://www.zerohedge.com/news/2017-11-02/coinbase-adds-record-100000-bitcoin-traders-one-day

Bitcoin is not a bubble ... Bitcoin, it's people.
With real money and that, it's new for all.

Reach 10k$ before the end of 2017.

How can that be??  I am amazed!  100k users in a day?
IN-FUCKING-SANE!



I think it was actually a 48-hour period not 24.
Also, Zerohedge puts out a lot of bullshit and I have never once seen a retraction.
Then there is the word 'trader' being used for every person who signs up. The number of users who ever buy or sell anything is unknown.

Okay so it's not as sensational as it sounds at first but it still is further evidence that exponential growth is happening.
conspirosphere.tk
Legendary
*
Offline Offline

Activity: 2352
Merit: 1064


Bitcoin is antisemitic


View Profile
November 02, 2017, 11:57:10 PM


indeed :-D  But not my case, luckily.
I'm too having fun looking at /biz/ lately.
Last of the V8s
Hero Member
*****
Online Online

Activity: 882
Merit: 1224


Be a bank


View Profile
November 02, 2017, 11:59:53 PM

So maybe the possibility to reach 7700 before the star wars relaese becomes close :-)

easy peezy Daisy Ridley
LewisPirenne
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
November 03, 2017, 12:24:53 AM

Actually most of people on this planet are broke and just worry about daily sustenance.  So even if they knew something about bitcoin, they probably would buy very little, if at all, and had get out as soon as they need the money for something else.  

So even if Mircea Popescu type of elitism is repugnant, he is right in that Bitcoin does NOT give a fook whether it sees widespread use as payment or the masses adopt it.  It's going to go up if enough elites see it as a hedge against central bank experimentalism or as a new method of exerting controls.  As I stated before, I got in in late 2012 mostly as a hyperdeflationary experiment, i.e. I want to see whether we can trigger the first recorded case of hyperdeflation in human history.  

Since bitcoin is highly deflationary by design, it is irrational to spend it when you have fiat alternatives readily available, e.g. Visa/Master/Paypal/Alipay/Debit-card/Fiat-Cash.  If any kind of S curve adoption occurs, then BTC would be hoarded to oblivion.  Gresham's law would tell you that people always want to spend the "bad money", e.g. fiat, before spending "good money" like gold or BTC.  So eventually just as in hyperinflation, people try to spend the toilet paper confetti before it becomes worthless, people would hoard BTC before it becomes even more valuable.  The end game would be the same, they lose their function as a medium of exchange, because one has zero function as storage of value, and the other because it is just too valuable to be spent.  

If one just look at BTC in fiat term, going from sub $1 to $7000+ in 7+ years is pretty hyperdeflationary.  It's even worse if one looks at it in "purchasing power parity" terms, i.e. Laszlo's pizza, 2 pizza for USD$70 million, an increase of at least 7,000,000 times.  Naturally the implication would be that if BTC undergoes hyperdeflation, any charting/wave-theory/fibonacci/TA would be meaningless.  That's like applying TA to Weimar stock market or the IBVC (Venezuela stock index), which is up like 20x in 2017 alone and 50x in 1 year.  
pfrtlpfmpf
Sr. Member
****
Offline Offline

Activity: 378
Merit: 257


View Profile
November 03, 2017, 12:26:13 AM

So maybe the possibility to reach 7700 before the star wars relaese becomes close :-)

easy peezy Daisy Ridley


I´m so thanksful, that i have google  Smiley
vortex1878
Hero Member
*****
Offline Offline

Activity: 492
Merit: 500


View Profile
November 03, 2017, 12:42:21 AM

do   we   keep   an   eye   on   the   price   movement   chart

we are observe wall



Now, THAT is a beautiful wall, though your english isn`t as beautiful.
I like the brick in the lower left, he`s holding it all together.

Löl. Did you know that '≠`? And that a brick is actually neuter, not male? And that English is spelled with an upper case "E"?
People who live in glass houses shouldn't throw stones...  Grin

You´re german, right ?
Please, don´t embarrass us further !



Das kann ich nur zurückgeben. ^^
Schnall' mal den Unterschied zwischen dem Französischen "l'accent" ´ bzw. ` (Du bist nicht einmal konsistent falsch. Löl.) und dem Apostroph '. Und dem ganzen anderen Mist, den ich erwähnte. Mach' Dich nicht lächerlich. Grin
Aber zum Thema nochmals: Wer im Glashaus sitzt... Wink
Last of the V8s
Hero Member
*****
Online Online

Activity: 882
Merit: 1224


Be a bank


View Profile
November 03, 2017, 12:49:29 AM

LewisPirenne you read this? http://nakamotoinstitute.org/mempool/hyperbitcoinization/
jbreher
Legendary
*
Offline Offline

Activity: 2114
Merit: 1088


lose: unfind ... loose: untight


View Profile
November 03, 2017, 01:04:15 AM

grasping...

https://blog.bitgo.com/bitgos-segwit2x-plan-bb8f17e972d3
Belshe's plans

also nb: During this period we’ll be doing two things:  1. Isolating BitGo’s coins ...

inadvertently (?) admits the coins are his if they're on his exchange/wallet

That's not what I get out of it:

Quote
At the time of the fork, BitGo will begin a process of double spending (via RBF) some of its own coins to isolate them onto each chain.
...
Isolating BitGo’s coins onto each of the two chains for replay safety, as described above.
...
All transactions will include split coins from BitGo, and will therefore mitigate the risk of spending on the minority chain.

They're obviously describing a process where they mix some post-split coins with transactions funded by pre-split coins in order to provide replay protection. Can't do that without post-split coins. For which they will use their own. Not putting customer coins at risk for the minimally-yet-somewhat risky operation of being split by timing onto chain.

Of course, if you have evil in your heart, you'll see demons lurking in every shadow.
Torque
Legendary
*
Offline Offline

Activity: 1540
Merit: 1355



View Profile
November 03, 2017, 01:04:36 AM

So maybe the possibility to reach 7700 before the star wars relaese becomes close :-)

easy peezy Daisy Ridley


I remember back in May when Bitcoin first hit 2187. I had a little chuckle.
LewisPirenne
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
November 03, 2017, 01:09:57 AM


I think that article is merely referring to the superiority of BTC against fiat if they were allowed to freely compete and BTC would see widespread adoption as a result.  

But with hyperdeflation, it is not only fiat losing great deal of purchasing power, BTC would also gain enormous purchasing power against other more traditional and productive assets, e.g. gold/crude-oil/farmland.  

As we know, gold and silver retain its purchasing power over long period time, i.e. the tuition for a four year Ivy League degree is still about 5 kg (150 oz) of gold after more than a hundred years and price of cattle since Roman empire time didn't change much in terms of gold.  There is also a somewhat stable relationship between important cross rate such as oil/gold.  But with hyperdeflation, you would expect something like Francis Bacon's triptychs, hoarded and pass off as heirlooms, where owning bitcoin alone would confer status and respect, like some birthright for the aristocracy.    
jbreher
Legendary
*
Offline Offline

Activity: 2114
Merit: 1088


lose: unfind ... loose: untight


View Profile
November 03, 2017, 01:16:48 AM

you guys really think that this will go on forever? What when the whole US population has a wallet on Coinbase? IMO what is happening is just because almost no alts can be bought for fiat, so bitcoin is a forced step both to get in and out of alts. That's why it's pumping for the double effect of fiat inflow and alt dumping.

At some point some alts might well get traction. Just a matter of time.

Possible, but unlikely. What the average person on the street hears in terms of crypto:

"...bitcoin bitcoin blockchain bitcoin ethereum bitcoin drugs blockchain bitcoin money laundering bitcoin bitcoin bitcoin..."

No, probably won't go on forever. Indeed, once everyone is in, there is pretty much nowhere to go. But we're orders of magnitude away from that.
BlindMayorBitcorn
Legendary
*
Offline Offline

Activity: 1176
Merit: 1051



View Profile
November 03, 2017, 01:25:50 AM

you guys really think that this will go on forever? What when the whole US population has a wallet on Coinbase? IMO what is happening is just because almost no alts can be bought for fiat, so bitcoin is a forced step both to get in and out of alts. That's why it's pumping for the double effect of fiat inflow and alt dumping.

At some point some alts might well get traction. Just a matter of time.

Possible, but unlikely. What the average person on the street hears in terms of crypto:

"...bitcoin bitcoin blockchain bitcoin ethereum bitcoin drugs blockchain bitcoin money laundering bitcoin bitcoin bitcoin..."

No, probably won't go on forever. Indeed, once everyone is in, there is pretty much nowhere to go. But we're orders of magnitude away from that.

Normals are still trying to blockchain all the things. I swear 90% of people in 'fintech' are retarded.
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 2688
Merit: 1085



View Profile
November 03, 2017, 01:26:18 AM

^^^ ... the "everyone all in" adoption scenario figure I come up with for top of the S-curve price is around USD5million per btc (upper bound), but that would be in today's USD which will be toilet paper, wheelbarrow money by then. So 'only' 3 orders of magnitude possible increase left. It maybe be difficult to price btc in that scenario since it will be the numeraire, even gold and silver may be being cast in the streets ...
jojo69
Legendary
*
Offline Offline

Activity: 1120
Merit: 1391


no FOMO


View Profile
November 03, 2017, 01:31:22 AM

TORQUE!!!

thank god
BitcoinNewsMagazine
Legendary
*
Offline Offline

Activity: 1246
Merit: 1030



View Profile WWW
November 03, 2017, 02:41:33 AM

Sometimes it helps to look at a log scale chart. Here is Bitstamp daily bitcoin log scale with a reasonable pitchfork drawn:



The pitchfork suggests we may reach roughly $8000 before a sharp correction down to about $5000 before new all time highs greater than $10,000 by year end. The sell off might occur during the fork drama and rather than the end of the world present just another buying opportunity.

BitUsher
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000


View Profile
November 03, 2017, 02:44:39 AM

https://twitter.com/BitfuryGeorge/status/926104635001143297

"Last 2 weeks we had over 50 Multi-Billion Family Offices approach us to get into Bitcoin !"
harrymmmm
Hero Member
*****
Offline Offline

Activity: 581
Merit: 500


View Profile
November 03, 2017, 02:46:23 AM

Hey - who here remembers Goat's Lambo?

Less than four years ago. It's hard to imagine where bitcoin will be in another 4 years.

https://bitcointalk.org/index.php?topic=378936.0

USD 191,000
BTC 216.8

Same priced car can now be bought with about 27 BTC. Or on the flip side, that 216.8 BTC is now worth a cool 1.5 million USD.

This poser thinks he was the first: https://www.youtube.com/watch?v=yY86vH7z9qA


goat is canny ... he bought the lambo, new, and then sold it on when btc had tanked ... pretty sure he would have got back in near the lows.

A couple years ago I made a ThailandBitcoin subreddit. In the middle of a thread on bitcoin exchanges and the 'banning' of bitcoin in thailand, goat said:
"Yes I bought a Lambo with XBT but I recently sold it and bought more XBT. It was a pro XBT PR stunt that also helped me acquire more XBT"
(https://www.reddit.com/r/BitcoinThailand/comments/2ysqmh/exchanges/)

The thread mostly consisted of him and a thai exchange owner slinging crap at each other ... worth a read. Smiley
jojo69
Legendary
*
Offline Offline

Activity: 1120
Merit: 1391


no FOMO


View Profile
November 03, 2017, 02:53:45 AM

Goat kicked me out of the cript

said my posts were "low quality"  Undecided
Pages: « 1 ... 18081 18082 18083 18084 18085 18086 18087 18088 18089 18090 18091 18092 18093 18094 18095 18096 18097 18098 18099 18100 18101 18102 18103 18104 18105 18106 18107 18108 18109 18110 18111 18112 18113 18114 18115 18116 18117 18118 18119 18120 18121 18122 18123 18124 18125 18126 18127 18128 18129 18130 [18131] 18132 18133 18134 18135 18136 18137 18138 18139 18140 18141 18142 18143 18144 18145 18146 18147 18148 18149 18150 18151 18152 18153 18154 18155 18156 18157 18158 18159 18160 18161 18162 18163 18164 18165 18166 18167 18168 18169 18170 18171 18172 18173 18174 18175 18176 18177 18178 18179 18180 18181 ... 21095 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!