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

[BitcoinAshley]

Wow, so many people convinced a crash is coming. Maybe I should sell all mah coins 

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[ChartBuddy]

[windjc]

I think we might see the great crash tomorrow, if new money doesn't come in and prop up the price some more. I think most people are itching to cash out, but are waiting to see what happens tomorrow. It's over, ladies and gentlemen. Prepare.  

Right. Because no new money will come in tomorrow. I mean, lets see, we didn't have 2 senate meetings last week, 5 consecutive days of coverage on CNBC, a spike in Google trends, an endorsement by Branson.

I can't think of any possible scenario where money will flow into the exchanges tomorrow. I guess your right.

[maz]

We have less than 5 1/2 days until we are at $1000.  My countdown continues.

So far, the last 4 days have gone almost exactly like I expected.

Would you be willing to put 5BTC on that?

Sure.

Good, It's nice to see that your genuinely behind your presumptions.

[windjc]

We have less than 5 1/2 days until we are at $1000.  My countdown continues.

So far, the last 4 days have gone almost exactly like I expected.

Would you be willing to put 5BTC on that?

Sure.

Good, It's nice to see that your genuinely behind your presumptions.

So, is that a bet?

[gandhibt]

cup and a handle is just about ready, maybe little bit lower and then up uP UP! now is perfect time to buy if you don't have lots of coins already

Somebody bought in at 700+ prices. 

I have been all in from 20 so... few times i have got few bucks after that, but not for long.

Gandhibt's zealousness for bullishness is actually quite impressive. Possibly the most bullish bull I've seen.

If you check my post history you'll find out that I have been correct almost every time. Reality is more incredible than fairy tales (in this case more bull).

[chriswilmer]

I think we might see the great crash tomorrow, if new money doesn't come in and prop up the price some more. I think most people are itching to cash out, but are waiting to see what happens tomorrow. It's over, ladies and gentlemen. Prepare.  

Right. Because no new money will come in tomorrow. I mean, lets see, we didn't have 2 senate meetings last week, 5 consecutive days of coverage on CNBC, a spike in Google trends, an endorsement by Branson.

I can't think of any possible scenario where money will flow into the exchanges tomorrow. I guess your right.

+1

There will definitely be lots of new money. That doesn't mean it CAN'T crash... but yeah, I'm not betting on it.

[maz]

We have less than 5 1/2 days until we are at $1000.  My countdown continues.

So far, the last 4 days have gone almost exactly like I expected.

Would you be willing to put 5BTC on that?

Sure.

Good, It's nice to see that your genuinely behind your presumptions.

So, is that a bet?

No, I just wanted to see if you actually would Help's discern who's spouting crap and who's serious on here.

[DaRude]

We have less than 5 1/2 days until we are at $1000.  My countdown continues.

So far, the last 4 days have gone almost exactly like I expected.

Would you be willing to put 5BTC on that?

Sure.

I can get a wallet going. And i charge 1% for my escrow services 

[windjc]

cup and a handle is just about ready, maybe little bit lower and then up uP UP! now is perfect time to buy if you don't have lots of coins already

Somebody bought in at 700+ prices. 

I have been all in from 20 so... few times i have got few bucks after that, but not for long.

Gandhibt's zealousness for bullishness is actually quite impressive. Possibly the most bullish bull I've seen.

If you check my post history you'll find out that I have been correct almost every time. Reality is more incredible than fairy tales (in this case more bull).

Yeah, I have been thinking Tuesday or Wednesday were the most likely to reach $1000. We are going to have to fight up through a lot of resistance starting at $890.  People are going to sell at $900 and then again at $950, and then again at $980, $981 and everywhere until $999.

May take a couple of days even with the impending momentum.

[JimboToronto]

party time  

Like the proverbial broken clock twice a day, this time you were right.

It has been quite a party. They're still dancing.

[DaRude]

I am impressed at a a volume changing hands at GOX without moving a market almost at all kudos to the seller cashing out

[Adrian-x]

I don't "agree" with him. I know he is right because I have studied this myself. The R/P ratios (reserves divided by production) rises for many fossile fuels and since the end of the 19th century some people who do not understand economics have been warning about peak oil. Peak oil is a myth but I don't see why we should have a political argument about it.

You have the right to your opinion and that's all it is.  An opinion.  My opinion, is that your opinion is not based in reality.  How can supply be growing faster than consumption when oil is the result of millions of years of decay?

You have misunderstood the concept of a "reserve". In mining a reserve is defined as something that is discovered and has been proven to be economically viable to extract. The fact that you do not know this tells me that you have not studied this issue enough to have a qualified opinion:

Mineral reserves are resources known to be economically feasible for extraction. Reserves are either Probable Reserves or Proven Reserves.

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

Yet, you did not answer the question because you simply can not defend such illogical thinking.  Now you want to dodge with semantics.   Too funny.  

I have done this so many times it is getting tiring:

OIL
Global proven reserves:
1980: 683.4bn barrels
2013: 1'668.9bn barrels
Growth: 144 %

Global consumption:
1980: 61.4m barrels per day
2013: 89.8m barrels per day
Growth: 46.3 %

source:
http://www.bp.com/content/dam/bp/excel/Statistical-Review/statistical_review_of_world_energy_2013_workbook.xlsx

Conclusion: Oil supply is growing faster than consumption

Bitcoin global proven reserves: 8.967 million
1980: 0
growth : 1000%

Global consumption:
1980: 0
2013: 1800 Bitcoin per day
Growth: 46.3 %

There will always be more Bitcoin consumption will shrink to match demand, and we have reserves predicted to last untill 2141.
Finite crap, we need more economic growth the reserves prove we are not running out.

You win. Sell all the Bitcoin they'll be cheaper tomorrow.

[JimboToronto]

Bears keep putting up modest askwalls and the bulls keep eating them.

[pera]

My perspective:

[maz]

My perspective:

That's the most beautiful technical analysis I've ever seen.  

[mb300sd]

Bitcoin global proven reserves: 8.967 million
1980: 0
growth : 1000%

Global consumption:
1980: 0
2013: 1800 Bitcoin per day
Growth: 46.3 %

Wha??

Error: div by zero

[crazy_rabbit]

We have less than 5 1/2 days until we are at $1000.  My countdown continues.

So far, the last 4 days have gone almost exactly like I expected.

Would you be willing to put 5BTC on that?

Sure.

GENTLMEN! A BET is now ON!

#watching. :-)

[BTCSTOCKS]

My perspective:

https://i.imgur.com/6LZ3Ibm.jpg

wow cool is that bitcoin depicted heading into outerspace and through a blackhole? ..sweet!  

http://www.ukmovieposters.co.uk/wp-content/uploads/2012/09/THE-BLACK-HOLE.jpg

[ErisDiscordia]

My perspective:

finally some TA which makes sense!