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

[macsga]

Stability is good long term... but I want to see $400 today!

[1714524861]

1714524861

[freethink2013]

my guess: we'll keep on getting close to 400 then back off a few times before bursting through but once we burst $400 (thursday) it'll go crazy but then we'll be back to 350 on sunday.

[gizmoh]

"The bull case scenario is a $400 billion market cap. So the market cap is around $4 billion right now," Tyler Winklevoss said

http://www.cnbc.com/id/101190181

We are going to be filthy rich ( bulls only )

[crazy_rabbit]

"The bull case scenario is a $400 billion market cap. So the market cap is around $4 billion right now," Tyler Winklevoss said

http://www.cnbc.com/id/101190181

We are going to be filthy rich ( bulls only )

Delicious.

[haightst]

Stability is good long term... but I want to see $400 today!

who sells for 400? lol  

[dannbb]

up up and away 

[macsga]

Stability is good long term... but I want to see $400 today!

who sells for 400? lol  

Not me...

[maz]

Stability is good long term... but I want to see $400 today!

who sells for 400? lol  

Who buys for $400??!!

[ChartBuddy]

[Wekkel]

Next two hours decision time for todays rally.

[DougTanner]

Wow, we got close to the non-Chinese ATH already.

[Zangelbert Bingledack]

"The bull case scenario is a $400 billion market cap. So the market cap is around $4 billion right now," Tyler Winklevoss said

http://www.cnbc.com/id/101190181

We are going to be filthy rich ( bulls only )

Delicious.

Bearish. Only 100x bigger? What do they think will happen when Bitcoin is 100x bigger, starting to enter the edges of mainstream, that it will just sit there and not squirm into every nook and cranny of the global economy?

[mccorvic]

Looks like we're seeing some action on Stamp.  Will it continue? We shall see! (the answer is yes)

[ardana123]

I just don't see how bitcoin could become a major currency to buy and sell goods without the volatility issue being mitigated first. This is why I think the 400 billion market cap should come first, and afterwards the whole currency shabang.

[BRADLEYPLOOF]

I just don't see how bitcoin could become a major currency to buy and sell goods without the volatility issue being mitigated first. This is why I think the 400 billion market cap should come first, and afterwards the whole currency shabang.

It's because everyone still thinks in terms of fiat, not bitcoin.  We're still using dollar, euro, yuan as the value indicators.  A house doesn't cost 250,000 dollars, ( or GBP, Euro, or Yuan counterparts) it should cost .25 BTC.  Because there will be so few bitcoins per person, each one will have to be worth at least 3 cows, 2 sheep, a pig, 4 chickens, and a daughter...

[wachtwoord]

I just don't see how bitcoin could become a major currency to buy and sell goods without the volatility issue being mitigated first. This is why I think the 400 billion market cap should come first, and afterwards the whole currency shabang.

It's because everyone still thinks in terms of fiat, not bitcoin.  We're still using dollar, euro, yuan as the value indicators.  A house doesn't cost 250,000 dollars, ( or GBP, Euro, or Yuan counterparts) it should cost .25 BTC.  Because there will be so few bitcoins per person, each one will have to be worth at least 3 cows, 2 sheep, a pig, 4 chickens, and a daughter...

Is the daughter hot?

[BRADLEYPLOOF]

I just don't see how bitcoin could become a major currency to buy and sell goods without the volatility issue being mitigated first. This is why I think the 400 billion market cap should come first, and afterwards the whole currency shabang.

It's because everyone still thinks in terms of fiat, not bitcoin.  We're still using dollar, euro, yuan as the value indicators.  A house doesn't cost 250,000 dollars, ( or GBP, Euro, or Yuan counterparts) it should cost .25 BTC.  Because there will be so few bitcoins per person, each one will have to be worth at least 3 cows, 2 sheep, a pig, 4 chickens, and a daughter...

Is the daughter hot?

Smokin' hot.  She's hot with two t's, as in HOTT!!!

[kehtolo]

I just don't see how bitcoin could become a major currency to buy and sell goods without the volatility issue being mitigated first. This is why I think the 400 billion market cap should come first, and afterwards the whole currency shabang.

Doesn't a lot of world trade happen in USD$ as it's the world's reserve currency? It is volatile no? (admittedly not to the same extent)

Weren't you only yesterday saying that you don't want to trade on bitstamp because of the volitility between EUR/USD?

Point is.. trade still happens.. and it will (it has to!) volatillity or not. This is something people in business, especially in this globalised world know about, and generally dislike.
By the time a payment has cleared they have either gained some extra or lost a little extra. This is life.

What if two agents on different sides of the world set their price in btc, and worked in btc. No waiting. No exchange fees, No credit card or banking fees.
What little fluctuation occured, would be offset by the gains of almost zero fees (above).

It is often argued that aas bitcoin gains market share and acceptance that such volatility will even itself out, leading to a more stable value in time.
This further negates the volitility argument.

[the_sunship]

it's understandable that the questioner would be concerned about a currency who's value changes radically at times, but when you look at the long term charts, it would seem that more and more businesses would gladly accept them once they understand the risk/return.

Imagine selling one computer to someone for 20 BTC (when bitcoin was $65 = $1300) earlier this year, and keeping them safe in a cold wallet. Meanwhile all the others you sold with USD. That one computer sale would now net you close to $8000 so far. That's not a bad profit from simply having a "buy with bitcoin!" button next to your product.

[BRADLEYPLOOF]

it's understandable that the questioner would be concerned about a currency who's value changes radically at times, but when you look at the long term charts, it would seem that more and more businesses would gladly accept them once they understand the risk/return.

Imagine selling one computer to someone for 20 BTC (when bitcoin was $65 = $1300) earlier this year, and keeping them safe in a cold wallet. Meanwhile all the others you sold with USD. That one computer sale would now net you close to $8000 so far. That's not a bad profit from simply having a "buy with bitcoin!" button next to your product.

And remember, as more and more people accept and use it, it will be more like using a dollar, where things will be priced in such a manner that it won't matter the value of a dollar, it will be, "How much is it worth in bitcoin".  The hardest part about this whole thing is that it's going from the bottom up.  We, as consumers are trying to get merchants to accept it, and the merchants either need to convert, or get their vendors to accept it, and so forth.  If we could get a very large vendor to accept it as payment for something that many people purchase and resell, then we'd really have a decent grasp on the economy...