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

[SheHadMANHands]

This thread has gone full retard.

[Sword Smith]

If you actually followed the source wikipedia links to, it says the following:

I use the term fiat or abstract paper money interchangeably to stand for a government supplied means of payment of no intrinsic worth.

So not even your own source actually supports your claim. It's just Wikipedia messing up.

Not sure why this bothers some of you so much.  There is government fiat, now digital fiat, clam shell fiat, etc, etc.  As freethink just said, fiat isn't necessarily a bad thing.  It's not bad that USD is fiat in that sense.  What's bad about USD is that it is debt based.  It enters the system as debt.  It would actually be nice if the treasury would just issue sovereign money and break capital holders grip on our economy.

Fiat means decree which is the anti-thesis to Bitcoin. That is why it bothers me.

The decree is right here: http://www.bitcoin.org/bitcoin.pdf

Everyone here has accepted bitcoin as the implementation of that decree.

No. I have not been told to use Bitcoin. I have chosen to. Thus it is a proposal and not a decree to me.

[miter_myles]

[Coinseeker]

Nah. It takes a little more than that to get on my ignore list

Love this thread btw. <3

+1 Me too.  I try to quit but I just keep coming back.  

[Wekkel]

No one gets on my ignore list.

[Odalv]

I feel a great disturbance in the force.

I'm calling a top here (or very close to where we are now). All that noise about the greenlisting stuff and the fact that even people like Mike Hearn seem to have turned to the dark side is making people increasingly nervous. There will be a huge correction. There will be blood. In order to maximize my profit from the initial shock I'm now increasing the rebalancing threshold of my balancer bot from 11% to 30%.

I think your balancer is out of coins. I'm sorry we go up.

[2_Thumbs_Up]

If you actually followed the source wikipedia links to, it says the following:

I use the term fiat or abstract paper money interchangeably to stand for a government supplied means of payment of no intrinsic worth.

So not even your own source actually supports your claim. It's just Wikipedia messing up.

Not sure why this bothers some of you so much.  There is government fiat, now digital fiat, clam shell fiat, etc, etc.  As freethink just said, fiat isn't necessarily a bad thing.  It's not bad that USD is fiat in that sense.  What's bad about USD is that it is debt based.  It enters the system as debt.  It would actually be nice if the treasury would just issue sovereign money and break capital holders grip on our economy.  But they can't/won't because they are in debt to the capital holders.  Some of you worry about the small things and don't really see the big picture at work here.

Because it is muddling language. When you add meanings to words, the words actually get less meaningful. This serves a good purpose in politically charged topics as you can become more vague about what you mean without people even realizing it a lot of times. The etymology is fairly clear in this case, fiat means by decree.

Relevant:
https://www.mtholyoke.edu/acad/intrel/orwell46.htm

[freethink2013]

No one gets on my ignore list.

ignore is for pussies (and i don't mean that in a sexist way)

[Odalv]

It is the speculation thread, but I suspect China will follow Stamp and Gox in a massive selloff.  They have more weak hands than anybody at the moment, because they represent the most new money.  Should the bearish signals prove to be true of course.

They might have weak hands but they cant dump piles and piles as no one there has 10000 coins to drop.

You're wrong. When/if "they" start selling it will be all at once. You take thousands of "them" with 20-50 coins each that Raquel's a heft dump. Combine that with the rest of the world who would love to force weak hands to give up cheap coins and we will see a huge dip.

Enjoy cheap coins.

[Odalv]

gox lag 60 seconds -> panic

Do not day trade or you will end up out of coins.

Buy & Hold (& Learn)

[SheHadMANHands]

This user is currently ignored.

What did he say?

[SheHadMANHands]

No one gets on my ignore list.

ignore is for pussies (and i don't mean that in a sexist way)

[seljo]

+1

[notme]

If you actually followed the source wikipedia links to, it says the following:

I use the term fiat or abstract paper money interchangeably to stand for a government supplied means of payment of no intrinsic worth.

So not even your own source actually supports your claim. It's just Wikipedia messing up.

Not sure why this bothers some of you so much.  There is government fiat, now digital fiat, clam shell fiat, etc, etc.  As freethink just said, fiat isn't necessarily a bad thing.  It's not bad that USD is fiat in that sense.  What's bad about USD is that it is debt based.  It enters the system as debt.  It would actually be nice if the treasury would just issue sovereign money and break capital holders grip on our economy.

Fiat means decree which is the anti-thesis to Bitcoin. That is why it bothers me.

The decree is right here: http://www.bitcoin.org/bitcoin.pdf

Everyone here has accepted bitcoin as the implementation of that decree.

No. I have not been told to use Bitcoin. I have chosen to. Thus it is a proposal and not a decree to me.

Fiat means (from the latin since you like etymology) "let there be".  In my mind, that paper fits that meaning quite well.  You are the one adding the forceful connotation to the term.

[haightst]

2) The word you are looking for is "fiduciary". "Fiat" means "let it be" and thus means that someone is in control.

fiat
ˈfiːat,ˈfʌɪat/
noun
1.
a formal authorization or proposition; a decree.
"the reforms left most prices fixed by government fiat"

Fiat money has been defined variously as:
any money declared by a government to be legal tender.[1]
state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard.[2]
money without intrinsic value.[3][4]

http://en.wikipedia.org/wiki/Fiat_money

Bitcoin has ZERO value, except what we all agree it is worth.  Just like USD.  In fact, given the fabric USD is printed on, it's fair to say USD is actually "worth" more. 

HAVE YOU SEEN 4:20 MONEY?LOL =)

http://www.secretsofthefed.com/wp-content/uploads/2013/01/Screen-shot-2013-01-21-at-10.26.19-PM.png

[Nightowlace]

No one gets on my ignore list.

ignore is for pussies (and i don't mean that in a sexist way)

That ass is amazing!

If we ever were to go straight to bitcoin only how would we shove dollar bills in her G String? Hmmm I guess we could pay the strip club for strip club vouchers and stuff those in her g string. Then she could redeem them at the end of the night for her bitcoin.

[spooderman]

No one gets on my ignore list.

ignore is for pussies (and i don't mean that in a sexist way)

great now I have to rub one out

[Richy_T]

This is a pretty cool chart. I wish that ChartBuddy would display the market depth of four exchanges and not just one, though.

Do they all have an API like mtgox or would I have to custom it up for each one?

[Spaceman_Spiff]

What law in what country says that someone wholly or partly has to use bitcoin?

It's obvious you misunderstand the full definition of "fiat".  Fiat can be a government issued currency but it also is defined as a currency with no intrinsic value.  Bitcoin, like USD, only has value because we agree that it does.  Thus Bitcoin is simply another form of fiat currency.  Bitcoin though, is not debt based.  So thats good.

"Value" is always subjective.  "Intrinsic value" is bullshit.  The only characteristics that things have for sure are properties, and one can debate how useful or valuable these properties are.

[TheKoziTwo]

Vote NO to destroying bitcoin