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

[molecular]

molecular, before laughing in your hubris, I would dwell on what she really means rather than technically. There's no real need for p2p if there are central companies who will deliver a good/convenient experience at acceptable prices. Think Steam and Netflix. Who's to say banks couldn't get their shit together if they wanted to?

I've dwelled on that before, don't worry. A decentralized consensus protocol is a necessary requirement for a censorship resistant currency that is open to anyone, can't be inflated, and has at least the possibility of anonymity.

Banks getting their shit together? The greater fear would be iBuck or googleDough, but they wouldn't offer half of what Bitcoin has to offer. Of course they could be pushed hard and might have some success, but that's nothing like cryptocurrency. It's not about delivering some good experience to some US customer, it's about the other 6.5 billion people on this planet.

[macsga]

Unfortunately it's relevant for Bitcoin when the scamcoins begin to rival its popularity and hype.

You're too right. Even the mainstream media is picking up on it big time....

Libertarians And Millennials Are Going Crazy Over Dogecoin ... - Forbes

Is DogeCoin a potential weapon of mass economic destruction? - Guardian

Should you invest in Dogecoin? - Wall Street Journal

Absolutely sobering :/

Holy hell, I didn't even know those articles yet. Thanks.

You fight fire with fire. Hype with hype. For Bitcoin is built on little else. One of Dogecoin's 2 creators works at Adobe in marketing. Get something for nothing. This is the world we live in.

It's literally a fad, and it's working. If Dogecoin ever reaches a billion in market cap, I will sacrifice a puppy and stuff it in the block chain.

Just kidding, I would never hurt a fly.

Didn't know any of this!!! Thanks oda.krell and Blitz... Adobe eh?

[Note to self: add Blitz and macsga to list of people who don't read linked articles before commenting on them.]

Sorry guys

I just read them and was thinking the same thing. lol

So disappointing Blitz. Much cry... We're both on for exams next semester... those two bad guys didn't pass us

[N12]

Yes, well played. It explains why I never saw the articles before.

That was mean though, I really do mostly read the headlines nowadays. Obviously, a few years ago, back when Bitcoin was rarely ever mentioned in the media (pre June 2011), I would read every single letter.

Here are some real Dogecoin articles. Apparently, it has only penetrated mostly the tech media so far:

http://www.ibtimes.co.uk/what-dogecoin-meme-that-became-hot-new-virtual-currency-1429847

http://www.theverge.com/2013/12/16/5216862/bitcoin-is-so-2013-dogecoin-is-new-crypto-currency-on-the-block

http://motherboard.vice.com/blog/dogecoins-founders-believe-in-the-power-of-meme-currencies

edit: By the way, the Indian central bank recently mentioned Dogecoin, among others. Too funny.

[TERA]

Soooo... how do you feel about this being led by china?

[macsga]

Soooo... how do you feel about this being led by china?

I personally look forward those guys solving their issues and come back into the game. I don't think that btcChina will be a major player though; maybe another exchange?

[wachtwoord]

Soooo... how do you feel about this being led by china?

Follow the leader leader leader follow the leader?

[N12]

I don't know why people are still talking about China. Look at btcchina's volume the past days and compare it to their previous volumes. And that is before the market is completely cut off from the banking and payment providers end of Feb.

I would disregard all the other exchanges as they are likely to be manufacturing their data, same as OKCoin. Do you really believe there is 60k 24h volume on some Huobi site when there is 15k in btcchina, MtGox and Bitstamp all added together?

China is dead. It will probably stay dead. US and Europe remain leaders in Bitcoin.

[wachtwoord]

I don't know why people are still talking about China. Look at btcchina's volume the past days and compare it to their previous volumes. And that is before the market is completely cut off from the banking and payment providers end of Feb.

I would disregard all the other exchanges as they are likely to be manufacturing their data, same as OKCoin. Do you really believe there is 60k 24h volume on some Huobi site when there is 15k in btcchina, MtGox and Bitstamp all added together?

China is dead. It will probably stay dead. US and Europe remain leaders in Bitcoin.

I don't believe this. People are resourceful and stubborn. Banning something will make it come back stronger.

[TERA]

I don't know why people are still talking about China. Look at btcchina's volume the past days and compare it to their previous volumes. And that is before the market is completely cut off from the banking and payment providers end of Feb.

I would disregard all the other exchanges as they are likely to be manufacturing their data, same as OKCoin. Do you really believe there is 60k 24h volume on some Huobi site when there is 15k in btcchina, MtGox and Bitstamp all added together?

China is dead. It will probably stay dead. US and Europe remain leaders in Bitcoin.

Huobi is leading now

[macsga]

Over and out people. Much night, very sleep

[N12]

Did that work out for QQcoins in China?

Perhaps I am wrong, but I wouldn't bet against the Chinese state's ability to stamp down things it doesn't like. Obviously people will always be able to trade OTC, but naturally that is a pittance compared to having an exchange.

[freethink2013]

I don't know why people are still talking about China. Look at btcchina's volume the past days and compare it to their previous volumes. And that is before the market is completely cut off from the banking and payment providers end of Feb.

I would disregard all the other exchanges as they are likely to be manufacturing their data, same as OKCoin. Do you really believe there is 60k 24h volume on some Huobi site when there is 15k in btcchina, MtGox and Bitstamp all added together?

China is dead. It will probably stay dead. US and Europe remain leaders in Bitcoin.

The biggest mistake I made is thinking the market reacts instantly. They don't. There's people in china who still haven't fully got the message. They won't get the message until the end of january.

imo you can't just ignore the reason for us hitting 4 figures because it suits you. They inmfluenced the market last month and they'll influence the market until the end of jan.

I'm bullish and think we'll be 4 figures in jan/feb. Fuck china but thanks for the boost.

[freethink2013]

Did that work out for QQcoins in China?

Perhaps I am wrong, but I wouldn't bet against the Chinese state's ability to stamp down things it doesn't like. Obviously people will always be able to trade OTC, but naturally that is a pittance compared to having an exchange.

You can still pay for sex with qq coins btw.

Also the black economy of china probably dwarfs many european states gdp.

[ChartBuddy]

[Rampion]

Dogecoin is a perfect synthesis of the stupidity of the crypto ecosystem.

[Boxman90]

Any livecharts for Huobi?

EDIT// LOLOLOLOLOLOLOL http://bitcoinity.org/markets/huobi/CNY

Look at that market depth. 300 BTC on the buy side orderbook, yet >1K BTC volume every hour? Hahahahah just say "OMG CHINA IS BUYING' and all the morons follow in high volume on the USD/EU exchanges. Doesn't matter I'm going to make money, but DAMN.

[N12]

http://bitcoinity.org/markets/huobi/CNY

Maybe someone with time and will can even analyze this and expose suspicious data if there is any.

The scary thing about manipulation by exchanges is that they can only get more sophisticated, and eventually we won't be able to tell.

[Boxman90]

http://bitcoinity.org/markets/huobi/CNY

Maybe someone with time and will can even analyze this and expose suspicious data if there is any.

The scary thing about manipulation by exchanges is that they can only get more sophisticated, and eventually we won't be able to tell.

Look at that market depth. 300 BTC on the buy side orderbook, yet >1K BTC volume every hour? Hahahahah just say "OMG CHINA IS BUYING' and all the morons follow in high volume on the USD/EU exchanges. Doesn't matter I'm going to make money, but DAMN.

[spooderman]

Yay. Now all we need is some volume.

[N12]

Bitcoinity sometimes has bugs with regard to the market depths of exchanges, so I wouldn't rely on it. If this order book data is consistent with other sources however, it is certainly indicative of made up trades on their part.