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Question: When New ATH?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25252848 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
Vigil
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January 24, 2014, 09:44:00 PM
 #79281

^Jesus!!! you think BTC is going to $80,000,000?
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January 24, 2014, 09:44:22 PM
 #79282


It's peurile (re)posts like this that make me think that half the 'technical analysts' in this thread actually spend their days in a kindergarten.




Uses big words to condescend an intentionally terrible meme...spells puerile incorrectly.
OK, so you're puerile.

And your picture needs crayoning. That would be a better use of your time.
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January 24, 2014, 09:47:44 PM
 #79283

^Jesus!!! you think BTC is going to $80,000,000?

why think when you can dream!
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January 24, 2014, 09:52:37 PM
 #79284

The number of coins is completely arbitrary. What matters is the value of your total stash. I once had a goal of 1000 coins and I alllllllmost reached it, but I'll never get that now and you know what? doesn't even matter.  It was just a nice round number. Something psychological. What matters is my daughter can have braces, a quincinera, a college education and a wedding some day. 

and a single bitcoin now WILL be worth millions if the multi-year log trend holds.  in only three to five years.
What are you talking about.

100 BTC and each BTC is worth $1 million -> 100 x $1 million = $100,000,000.

1 BTC and each BTC is worth $1 million -> 1 x $1 million = $1,000,000.

That is a difference of 100x - that is the difference between being able to start up a multimillion dollar business project and not being able to. That is the difference between being financially free and not. BTC is not going to $1 million in 5 years, it may go there within 10.

The more BTC, the more purchasing power and the sooner you reach that plateau of purchasing power where you no longer have to worry about spending everything you have to get to where you want to be. It is a HUGE difference. Its massive.

That is exactly my point... you want bitcoin to go up as soon as possible so you can buy some stuff (whatever a quincinera is and why you would want to waste BTC on it that you think are going to $1,000,000). I want to accumulate bitcoin so I can be in a position to produce stuff.

Sigh. ok Junior, read carefully:

1 BTC=~$800 now  ~1000% annual appreciation for the trend.

in one year 1 BTC=~$8,0000
two years 1BTC=~$80,000
three years 1BTC=~$800,000
Four years 1 BTC=~$8,000,000
Five years 1 BTC=~80,000,000

$80 mil is a position to produce stuff. Now this trend may slow down, but again, you're young.  You say you want to swing for the fences. Good. I'm like that too. Just don't strike out waiting for the perfect pitch.

$80m x 12.3m Bitcoins (currently) = 12 x the entire sum of the GDPs of all the countries in the world. Or maybe you are on another planet.
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January 24, 2014, 09:54:52 PM
 #79285

The number of coins is completely arbitrary. What matters is the value of your total stash. I once had a goal of 1000 coins and I alllllllmost reached it, but I'll never get that now and you know what? doesn't even matter.  It was just a nice round number. Something psychological. What matters is my daughter can have braces, a quincinera, a college education and a wedding some day.  

and a single bitcoin now WILL be worth millions if the multi-year log trend holds.  in only three to five years.
What are you talking about.

100 BTC and each BTC is worth $1 million -> 100 x $1 million = $100,000,000.

1 BTC and each BTC is worth $1 million -> 1 x $1 million = $1,000,000.

That is a difference of 100x - that is the difference between being able to start up a multimillion dollar business project and not being able to. That is the difference between being financially free and not. BTC is not going to $1 million in 5 years, it may go there within 10.

The more BTC, the more purchasing power and the sooner you reach that plateau of purchasing power where you no longer have to worry about spending everything you have to get to where you want to be. It is a HUGE difference. Its massive.

That is exactly my point... you want bitcoin to go up as soon as possible so you can buy some stuff (whatever a quincinera is and why you would want to waste BTC on it that you think are going to $1,000,000). I want to accumulate bitcoin so I can be in a position to produce stuff.

Sigh. ok Junior, read carefully:

1 BTC=~$800 now  ~1000% annual appreciation for the trend.

in one year 1 BTC=~$8,0000
two years 1BTC=~$80,000
three years 1BTC=~$800,000
Four years 1 BTC=~$8,000,000
Five years 1 BTC=~80,000,000

$80 mil is a position to produce stuff. Now this trend may slow down, but again, you're young.  You say you want to swing for the fences. Good. I'm like that too. Just don't strike out waiting for the perfect pitch.

$80m x 12.3m Bitcoins (currently) = 12 x the entire sum of the GDPs of all the countries in the world. Or maybe you are on another planet.

lol
no.

thats 80 million not Balizion
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January 24, 2014, 09:55:36 PM
 #79286

Allright, back to observing, lads.

It seems that each exchange has a ton of people watching the charts, on their toes, fingers above keyboards and mice, waiting to click the "Sell" button. Then they give it another 10 minutes, stroll out for a pee and a cigarette, just to get back to find out that "wow, it's almost the same price... well, maybe I'll wait a little longer".

So - It's Friday late evening over here - is the "big crash" everyone's preaching about happening over this week-end, or not? If we do crash, could we do it in a civilized manner? If you hodl a stash greater than (amount x) - could you please not sell all at once, so we can also get off / on the train ? Thanks!  Roll Eyes

L.E. or, please - could we bounce back to ~800 levels on the more liquid exchanges ? Thanks x 2!
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January 24, 2014, 10:00:01 PM
 #79287


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January 24, 2014, 10:02:31 PM
 #79288


Explanation
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January 24, 2014, 10:04:19 PM
 #79289

^Jesus!!! you think BTC is going to $80,000,000?

Either the technology will be adopted or it won't. It's basically a binary outcome. it's still a long shot, but it's a heluva lot more likely than it was three years ago.

do the math. What is Gold's market cap and what market share do you think Bitcoin will take?
What is VISA and Mastercard's market cap and what market share do you think Bitcoin will take?
and Western Union, Moneygram?
and Paypal?
and microtransactions?
and national currencies?
and SWIFT wire transfers? ACH?
stuff we haven't even thought of yet?

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January 24, 2014, 10:04:57 PM
 #79290


Thank you, ChartBuddy, for you work posting this confirmed bad news.  An analysis of your analysis demonstrates that it is proven that bitcoin will crash based on the green and the red.  Can you confirm?
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January 24, 2014, 10:08:52 PM
 #79291


Thank you, ChartBuddy, for you work posting this confirmed bad news.  An analysis of your analysis demonstrates that it is proven that bitcoin will crash based on the green and the red.  Can you confirm?

Don't you get tired of this? Enjoyed some of the high-class trolling, but its getting boring again so quick.. maybe time for another break?
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January 24, 2014, 10:11:04 PM
 #79292

^Jesus!!! you think BTC is going to $80,000,000?

Either the technology will be adopted or it won't. It's basically a binary outcome. it's still a long shot, but it's a heluva lot more likely than it was three years ago.

do the math. What is Gold's market cap and what market share do you think Bitcoin will take?
What is VISA and Mastercard's market cap and what market share do you think Bitcoin will take?
and Western Union, Moneygram?
and Paypal?
and microtransactions?
and national currencies?
and SWIFT wire transfers? ACH?
stuff we haven't even thought of yet?


Nothing even remotely close to justifying 12.3m (or more) bitcoins having a value $80m each. Utter rubbish.

For comparison, all the gold in the world is valued at aboout $10Tn, depending on estimates. That is far short of $984Tn.

Looks like you didn't do the math.
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January 24, 2014, 10:12:14 PM
 #79293


Thank you, ChartBuddy, for you work posting this confirmed bad news.  An analysis of your analysis demonstrates that it is proven that bitcoin will crash based on the green and the red.  Can you confirm?

Don't you get tired of this? Enjoyed some of the high-class trolling, but its getting boring again so quick.. maybe time for another break?

he started writing for the NYT lately:

http://dealbook.nytimes.com/2014/01/24/bitcoin-is-not-yet-ready-for-the-real-world/

Quote
Could it be that this coding genius is instead enjoying computer-manufactured riches on some remote, tax-free island, or is he a cyber-terrorist who upon Bitcoin adoption will activate a Trojan-horse virus to bring world commerce back to the Stone Age?

edit: talking about satoshi nakamoto!
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January 24, 2014, 10:14:07 PM
 #79294

The number of coins is completely arbitrary. What matters is the value of your total stash. I once had a goal of 1000 coins and I alllllllmost reached it, but I'll never get that now and you know what? doesn't even matter.  It was just a nice round number. Something psychological. What matters is my daughter can have braces, a quincinera, a college education and a wedding some day. 

and a single bitcoin now WILL be worth millions if the multi-year log trend holds.  in only three to five years.
What are you talking about.

100 BTC and each BTC is worth $1 million -> 100 x $1 million = $100,000,000.

1 BTC and each BTC is worth $1 million -> 1 x $1 million = $1,000,000.

That is a difference of 100x - that is the difference between being able to start up a multimillion dollar business project and not being able to. That is the difference between being financially free and not. BTC is not going to $1 million in 5 years, it may go there within 10.

The more BTC, the more purchasing power and the sooner you reach that plateau of purchasing power where you no longer have to worry about spending everything you have to get to where you want to be. It is a HUGE difference. Its massive.

That is exactly my point... you want bitcoin to go up as soon as possible so you can buy some stuff (whatever a quincinera is and why you would want to waste BTC on it that you think are going to $1,000,000). I want to accumulate bitcoin so I can be in a position to produce stuff.

Sigh. ok Junior, read carefully:

1 BTC=~$800 now  ~1000% annual appreciation for the trend.

in one year 1 BTC=~$8,0000
two years 1BTC=~$80,000
three years 1BTC=~$800,000
Four years 1 BTC=~$8,000,000
Five years 1 BTC=~80,000,000

$80 mil is a position to produce stuff. Now this trend may slow down, but again, you're young.  You say you want to swing for the fences. Good. I'm like that too. Just don't strike out waiting for the perfect pitch.

$80m x 12.3m Bitcoins (currently) = 12 x the entire sum of the GDPs of all the countries in the world. Or maybe you are on another planet.

$984 trillion is only a fraction of the world's derivatives market.
http://www.nakedcapitalism.com/2013/03/worldwide-derivatives-market-estimated-as-big-as-1-2-quadrillion-as-banks-fight-efforts-to-rein-it-in.html
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January 24, 2014, 10:20:28 PM
 #79295

Quote
Could it be that this coding genius is instead enjoying computer-manufactured riches on some remote, tax-free island, or is he a cyber-terrorist who upon Bitcoin adoption will activate a Trojan-horse virus to bring world commerce back to the Stone Age?

edit: talking about satoshi nakamoto!
... and the Hadron Collider will create a black hole and we'll all be sucked in, this has to stop now before it is too late.

In reality we use the wheel not because we trusted the inventor but because we find it useful.  
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January 24, 2014, 10:22:13 PM
 #79296

The number of coins is completely arbitrary. What matters is the value of your total stash. I once had a goal of 1000 coins and I alllllllmost reached it, but I'll never get that now and you know what? doesn't even matter.  It was just a nice round number. Something psychological. What matters is my daughter can have braces, a quincinera, a college education and a wedding some day. 

and a single bitcoin now WILL be worth millions if the multi-year log trend holds.  in only three to five years.
What are you talking about.

100 BTC and each BTC is worth $1 million -> 100 x $1 million = $100,000,000.

1 BTC and each BTC is worth $1 million -> 1 x $1 million = $1,000,000.

That is a difference of 100x - that is the difference between being able to start up a multimillion dollar business project and not being able to. That is the difference between being financially free and not. BTC is not going to $1 million in 5 years, it may go there within 10.

The more BTC, the more purchasing power and the sooner you reach that plateau of purchasing power where you no longer have to worry about spending everything you have to get to where you want to be. It is a HUGE difference. Its massive.

That is exactly my point... you want bitcoin to go up as soon as possible so you can buy some stuff (whatever a quincinera is and why you would want to waste BTC on it that you think are going to $1,000,000). I want to accumulate bitcoin so I can be in a position to produce stuff.

Sigh. ok Junior, read carefully:

1 BTC=~$800 now  ~1000% annual appreciation for the trend.

in one year 1 BTC=~$8,0000
two years 1BTC=~$80,000
three years 1BTC=~$800,000
Four years 1 BTC=~$8,000,000
Five years 1 BTC=~80,000,000

$80 mil is a position to produce stuff. Now this trend may slow down, but again, you're young.  You say you want to swing for the fences. Good. I'm like that too. Just don't strike out waiting for the perfect pitch.

$80m x 12.3m Bitcoins (currently) = 12 x the entire sum of the GDPs of all the countries in the world. Or maybe you are on another planet.

$984 trillion is only a fraction of the world's derivatives market.
http://www.nakedcapitalism.com/2013/03/worldwide-derivatives-market-estimated-as-big-as-1-2-quadrillion-as-banks-fight-efforts-to-rein-it-in.html
Ah, you're one of those people who think that derivatives are 'real'.

A sells a product to B for $1. B sells it back to A for $1. A total of $2 has changed hands. The market was $2. Doesn't make the product worth $2.

We'll probably see how 'real' that house of cards is sooner rather than later.
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January 24, 2014, 10:24:19 PM
 #79297

Gold market = $6.5 trillion

Global remittance business (Western Union etc.) = $0.5 trillion

M0 = $5 trillion
M1 = $25 trillion
M2 = $60 trillion
M3 = $75 trillion

I think the sum of global wealth (held by the world's adults) is somewhere around $200 trillion.


(all approx. of course)

I know some very smart people think a single bitcoin will one day have the purchasing power that $1million USD has right now but given the above I find that very hard to believe.

Personally, I find it very hard to see how 1 BTC would, under the same terms, ever be worth more than a few hundred thousand USD.

Any talk of $80 million USD per BTC or even $8 million within five years is just complete fantasy.


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January 24, 2014, 10:26:35 PM
 #79298

^Jesus!!! you think BTC is going to $80,000,000?

If 90% of BTC are consumed by reserve demand and 50% of the global GDP is denominated in bitcoin, we will see $80mm/btc.
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January 24, 2014, 10:28:37 PM
 #79299

^Jesus!!! you think BTC is going to $80,000,000?

If 90% of BTC are consumed by reserve demand and 50% of the global GDP is denominated in bitcoin, we will see $80mm/btc.

Yup.  But that would be a very different world to the one we currently live in. Wink
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January 24, 2014, 10:30:46 PM
 #79300

1 BTC=~$800 now  ~1000% annual appreciation for the trend.

in one year 1 BTC=~$8,0000
two years 1BTC=~$80,000
three years 1BTC=~$800,000
Four years 1 BTC=~$8,000,000
Five years 1 BTC=~80,000,000

$80 mil is a position to produce stuff. Now this trend may slow down, but again, you're young.  You say you want to swing for the fences. Good. I'm like that too. Just don't strike out waiting for the perfect pitch.

Um, you do realize that s-curves (like Bitcoin adoption) only increase exponentially on the approach to vertical, don't you?
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