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

[CryptStorm]

Now GOX is GOXXING, FYI. Bad gateway timeouts. HMMM, great opportunity to get pushed around while trying to open or close positions. I'd repeat be careful, this just may be a bad time for trading.

aka "Welcome to the manipulators gala, may I bring you a doucheberry spritz, the entertainment will be starting soon, and don't worry, you'll have more coins by the end of the show. Many more... MWAHAHAHAHAHHA"

[1714630888]

1714630888

[ardana123]

I feel bad for the suckers that got slaughtered again.
 

What do you mean? Final capitulation is coming. Surrender now or be forced to hold the bag forever.

[olli]

Gox ahead of Stamp again.  Back in the comfort zone.

Actually their price is pretty much equal now. Bitcoinwisdom is still showing the bitstamp price of 20 mins ago.

I believe bitstamp API is down? at least for me it seems to be... I hope I'm not banned or something.

Yeah, I noticed it is pretty weird. Sometime it seems the API is down while the website still (slowly) loads and shows the current price, etc. Reminds me a bit of my earlier programming days when you write a multithreaded program and sometimes parts fail and then it works again because race conditions are all over the place. I just hope the same is not true for bitstamp ... can't help but to get the impression lately ...

[mmitech]

GOX is down for me

EDIT: back online

[CryptStorm]

REPEAT:

Gox is down.

502 Bad Gateway.

 

[Nemesis]

OMG not fcking tulip analogy again. Are noobs always brainless? Can they think for a second?

Thats why they're pigs right?

[Nemesis]

I feel bad for the suckers that got slaughtered again.
 

I dont. I warned them

so did i.....

 

[Vigil]

REPEAT:

Gox is down.

502 Bad Gateway.

 

Crap, I have an open order.

[Mirsad]

It's allways the same -> DDOS -> panic sell -> tears  

Love it!

[CryptStorm]

OMG not fcking tulip analogy again. Are noobs always brainless? Can they think for a second?

Thats why they're pigs right?

Agreed. It's the "but its not *worth* anything, argument", every time.

REALLY!!!??? This technology is not worth anything!!? A trustless, decentralized, psuedynonymous account ledger, money receiver, money transmitter, with deflationary design, and low friction is worth nothing!!!??? GTFO

[Vigil]

OMG not fcking tulip analogy again. Are noobs always brainless? Can they think for a second?

Thats why they're pigs right?

Agreed. It's the "but its not *worth* anything, argument", every time.

REALLY!!!??? This technology is not worth anything!!? A trustless, decentralized, psuedynonymous account ledger, money receiver, money transmitter, with deflationary design, and low friction is worth nothing!!!??? GTFO

+1

[windjc]

OMG not fcking tulip analogy again. Are noobs always brainless? Can they think for a second?

Thats why they're pigs right?

Agreed. It's the "but its not *worth* anything, argument", every time.

REALLY!!!??? This technology is not worth anything!!? A trustless, decentralized, psuedynonymous account ledger, money receiver, money transmitter, with deflationary design, and low friction is worth nothing!!!??? GTFO

But tulips have all those things AND they look good in your garden.

[CryptStorm]

OMG not fcking tulip analogy again. Are noobs always brainless? Can they think for a second?

Thats why they're pigs right?

Agreed. It's the "but its not *worth* anything, argument", every time.

REALLY!!!??? This technology is not worth anything!!? A trustless, decentralized, psuedynonymous account ledger, money receiver, money transmitter, with deflationary design, and low friction is worth nothing!!!??? GTFO

But tulips have all those things AND they look good in your garden.

  +1

I don't always buy Bitcoins,

But, when I do, I plant them in the ground.

[kurious]

OMG not fcking tulip analogy again. Are noobs always brainless? Can they think for a second?

Thats why they're pigs right?

Agreed. It's the "but its not *worth* anything, argument", every time.

REALLY!!!??? This technology is not worth anything!!? A trustless, decentralized, psuedynonymous account ledger, money receiver, money transmitter, with deflationary design, and low friction is worth nothing!!!??? GTFO

But tulips have all those things AND they look good in your garden.

Hehe... Tulips fight? Well, Gox is down, I'm bored - c'mon you guys go for it

[lucas.sev]

Tulips are not useless, they might not be a good currency but they can be a store of value, nobody has control over your Tulips but you

I wonder what happened to your "BTC value is 90% Silk Road" mantra  

I never said value, I talked about how the only reason why a person on the street would go through the process of buying a bitcoin in order to immediately spend it is/was Silkroad. Oh and ASICS.  Everything else is speculation/'store of value'

I said that bitcoin economy is drugs and asics. 90% of value is speculation.

[Richy_T]

All people calling bitcoin a tulip craze don't realize that one of the main differences between both phenomenons is that the tulip craze was not supported by a worldwide digital platform called the internet. I mean the internet seems to be causing a qualitative effect on several phenomenons once they reach a quantitative peak thanks to the ease of interaction the internet provides. Look at the Arab spring, what seemed like a regular discontent or protest that wouldn't achieve much managed to topple whole governments. In my opinion this day and age we are witnessing very nice examples on how quantitative changes lead to qualitative ones thanks to the internet. So trying to predict what will happen to bitcoin using a phenomenon which happened centuries ago without having something like the internet to support it is not very accurate IMO.

Don't overcomplicate things. Tulips are useless.

Tulips are not useless, they might not be a good currency but they can be a store of value, nobody has control over your Tulips but you

They are not useless. They have an "inherent value"* which will always act to stabilize the price against a price rise (hence the bubble) and it is not difficult to increase the supply.

Bitcoin has no "inherent value" (or what it does have contributes trivially) and is of limited supply. Thus there is nothing which provides a downward price pressure other than sentiment. What many claim as a weakness is actually a strength (As is the case with the many things that people often criticize about Bitcoin)



*I don't believe in inherent value but am using it here as a shorthand which I hope we all understand.

[ChartBuddy]

[Richy_T]

Bitstamp down once again, when there will be an exchange that cares about their long-time brand?

The exchanges that care about their long-term brand aren't touching Bitcoin (yet). Welcome to the Wild West.

You know the stock market started out in coffee shops, right? (If I recall correctly)


And I do (of course )

http://en.wikipedia.org/wiki/Jonathan's_Coffee-House

[CryptStorm]

All people calling bitcoin a tulip craze don't realize that one of the main differences between both phenomenons is that the tulip craze was not supported by a worldwide digital platform called the internet. I mean the internet seems to be causing a qualitative effect on several phenomenons once they reach a quantitative peak thanks to the ease of interaction the internet provides. Look at the Arab spring, what seemed like a regular discontent or protest that wouldn't achieve much managed to topple whole governments. In my opinion this day and age we are witnessing very nice examples on how quantitative changes lead to qualitative ones thanks to the internet. So trying to predict what will happen to bitcoin using a phenomenon which happened centuries ago without having something like the internet to support it is not very accurate IMO.

Don't overcomplicate things. Tulips are useless.

Tulips are not useless, they might not be a good currency but they can be a store of value, nobody has control over your Tulips but you

They are not useless. They have an "inherent value"* which will always act to stabilize the price against a price rise (hence the bubble) and it is not difficult to increase the supply.

Bitcoin has no "inherent value" (or what it does have contributes trivially) and is of limited supply. Thus there is nothing which provides a downward price pressure other than sentiment. What many claim as a weakness is actually a strength (As is the case with the many things that people often criticize about Bitcoin)



*I don't believe in inherent value but am using it here as a shorthand which I hope we all understand.

Look, I get that argument. But, it's worth expanding passed the ostensible case. The ledger of Bitcoin *does* have inherent value. Maybe it doesn't seem to, because no one is using it that way. But, as a securities ledger or track of ownership, those *books*, if you will, have inherent value, as data record of ownership-- or, once they start getting used, they will.

[ElectricMucus]

Bitcoin has no "inherent value" (or what it does have contributes trivially) and is of limited supply. Thus there is nothing which provides a downward price pressure other than sentiment. What many claim as a weakness is actually a strength (As is the case with the many things that people often criticize about Bitcoin)



*I don't believe in inherent value but am using it here as a shorthand which I hope we all understand.

Also see the south sea bubble