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Question: What happens next?
$7,500 - 16 (51.6%)
$9,500 - 15 (48.4%)
Total Voters: 31

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21433474 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. (129 posts by 23 users deleted.)
billyjoeallen
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February 12, 2014, 02:28:47 PM
 #87001

I have one question. Bitstamp and BTC-E have the same problems as MTGOX, how come it that Stamp and BTC-E are +150 higher? I would love to buy coins @gox prices from stamp. Also have an big order at around 580 but I dont see it going that much down?!

I don't see it going down that much either, but I never thought it would get as low as it is, so maybe you'll get lucky. Fuck. China, Russia, Shrem, Gox, localbitcoin bust in FL, transaction malleability, flies, locusts, pestilence- this is one tough puppy.
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7thKingdom
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February 12, 2014, 02:31:06 PM
 #87002

I have one question. Bitstamp and BTC-E have the same problems as MTGOX, how come it that Stamp and BTC-E are +150 higher? I would love to buy coins @gox prices from stamp. Also have an big order at around 580 but I dont see it going that much down?!

If you think they're the same problem, I'm sure there are some (or a lot... or all) people on gox who would gladly swap your Stamp/BTC-E bitcoins with their Gox bitcoins and pay you the difference in cash.
JorgeStolfi
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February 12, 2014, 02:31:09 PM
 #87003

Can't resist, sorry:

"Our software did not have the MtGOX bug, we have already removed it, and we are suspending bitcoin withdrawals while we work on it."

 Tongue
UnDerDoG81
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February 12, 2014, 02:32:47 PM
 #87004

Yeah 650 is a good price too but I want to invest now 60% of my FIAT and am not sure if it is the best time or if we go a little bit more down. Maybe 620-630 would be nice too Smiley

I know and am 100% sure, when the problems get solved, we will skyrocket or go at least back to 800´s...
Erdogan
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February 12, 2014, 02:43:56 PM
 #87005

Excerpt LA Times:

Quote
The suspensions may be only growing pains, but if they're seen to be serious enough, bitcoin growth may end. And if other flaws in the system become equally troublesome obstructions, bitcoins will be over.

 Cheesy Cheesy Cheesy

This seems to be the consensus by the stream followers in the main stream press. (the main stream followers press ??)

But he - the market - can not decide. It has been nervously sideways the last hours.
creekbore
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February 12, 2014, 02:45:21 PM
 #87006


Invest in tech that makes life better for the user,  not for the climate or whatever.


I'm assuming you live somewhere immune from any climatic changes or "whatever" and don't eat food (produced in the environment) or drink clean water.  It must be great living in that bubble, removed from the reality the rest of us experience.

Much better to keep burning all that oil that comes from the middle east.  Cheesy Cheesy Cheesy
KeyserSoze
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February 12, 2014, 02:46:30 PM
 #87007

Bitcoin isn't anonymous
This is news to you? The FAQ is clear:
https://bitcoin.org/en/faq#is-bitcoin-anonymous


Bitcoin [...] is actually more traceable than cash
Like a credit card (except it often requires ponderous resources to find out the name on the card)?


Bitcoin [...] is actually run by a secretive central core of developers instead of being decentralised
Of course you mean "this fork" and not Bitcoin or cryptocurrency in general. You are welcome to create your own fork or coin and explore this project's decentralized nature.


Bitcoin [...] has massive security issues instead of being rock solid technology
You must have heard by now Bitcoin is in Beta. Developers can't help it if people heaped tons of value onto it before it was finished baking. This is your fault, not Bitcoin or the developers' fault.

I don't agree Bitcoin "the project" has security issues. Exchanges, wallets, and some developers have not handled THEIR security well. Some participants have not practiced care and have lost coins and money.

In addition, if you haven't learned this lesson in life yet then maybe you will thank me: software is an arms race. Nothing is safe. It is only hardened by putting up roadblacks which nefarious types eventually work around; to which more roadblocks are added.


Anyone else feeling a little bit cheated? I want to keep the faith but wondering if there are better things I could be putting my money into (tesla for example).

Absurd. You're disgruntled because you feel entitled to huge monetary gains and Bitcoin isn't giving it to you fast enough (of all things)? Please, put your money elsewhere. Oh, and nice timing coming into Bitcoin so late, and now wondering if Tesla would be better since they too already exploded in profit. Maybe consider GE, I hear electricity will be big.
empowering
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February 12, 2014, 02:50:14 PM
 #87008


Maybe consider GE, I hear electricity will be big.

billyjoeallen
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February 12, 2014, 02:50:53 PM
 #87009


Invest in tech that makes life better for the user,  not for the climate or whatever.


I'm assuming you live somewhere immune from any climatic changes or "whatever" and don't eat food (produced in the environment) or drink clean water.  It must be great living in that bubble, removed from the reality the rest of us experience.

Much better to keep burning all that oil that comes from the middle east.  Cheesy Cheesy Cheesy

Governments love to distribute costs and concentrate benefits. You apparently want to concentrate the costs (on yourself!!) and distribute the benefits. Thanks! I'll be free riding on your sacrifice along with about seven billion other people. It's not cost-effective to reduce global warming. It's more cost-effective to mitigate the negative effects and enjoy the positive effects. Now, back to the topic:

If you want to help the environment, how about a technology that encourages people to consume less, like a currency with a deflationary bias?
stompix
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February 12, 2014, 02:51:29 PM
 #87010

Yeah 650 is a good price too but I want to invest now 60% of my FIAT and am not sure if it is the best time or if we go a little bit more down. Maybe 620-630 would be nice too Smiley

I know and am 100% sure, when the problems get solved, we will skyrocket or go at least back to 800´s...

So many people are waiting for this train , I'm afraid it might leave even before the problems are solved.
Richy_T
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February 12, 2014, 02:56:25 PM
 #87011

The poll should have a "who gives a fuck.." vote..

It does.

In this thread "who gives a fuck..." is spelled HODL!!!!!!!!!!!!!!

LOL +1

LODL?
KeyserSoze
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February 12, 2014, 03:00:33 PM
 #87012

Electric cars are no improvement over internal combustion.
This is, you know, like, just your opinion, man. My opinion, being an owner of an electric car since 2010, is that it is much better for my daily use than the gas-powered truck I have sitting collecting dust next to it.


There's the issue of power density, ya know, batteries- those things that keep catching on fire and exploding in Tesla cars?
3 fires resulting from collision and/or road debris.
http://www.bloomberg.com/news/2014-01-27/musk-s-fire-numbers-are-a-stretch-but-teslas-are-safe.html
"By this comparison, gasoline cars is still a striking four times more likely to catch fire than Teslas."

Since billyjoeallen has now confirmed that the number of fires in an automobile should determine what we drive, I demand all use of gas powered vehicles to cease. Thank you for your cooperation.
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February 12, 2014, 03:07:03 PM
 #87013

LOL

*buys more bitcoin*

 Wink
Cablez
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February 12, 2014, 03:07:39 PM
 #87014

On a side note,  I tire of looking at the MTGox order depth on blockchained.  Is there a blockchained for bitstamp anywhere?
billyjoeallen
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February 12, 2014, 03:10:56 PM
 #87015

This is, you know, like, just your opinion, man. My opinion, being an owner of an electric car since 2010, is that it is much better for my daily use than the gas-powered truck I have sitting collecting dust next to it.

What's the range on that thing? 150 miles? POWER DENSITY. fix that problem and I'll buy one myself. all things else being equal.

You have no comment about my claim that inflationary currency encourages consumption and is therefor more harmful to the environment than a deflationary currency that encourages thrift and savings? How much energy did it take to build that truck you don't use?

Stay on topic, Junior. This ain't a pecker-flexing contest.


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February 12, 2014, 03:14:18 PM
 #87016

x2

LOL @ flies, locusts, pestilence
I have one question. Bitstamp and BTC-E have the same problems as MTGOX, how come it that Stamp and BTC-E are +150 higher? I would love to buy coins @gox prices from stamp. Also have an big order at around 580 but I dont see it going that much down?!

I don't see it going down that much either, but I never thought it would get as low as it is, so maybe you'll get lucky. Fuck. China, Russia, Shrem, Gox, localbitcoin bust in FL, transaction malleability, flies, locusts, pestilence- this is one tough puppy.
billyjoeallen
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February 12, 2014, 03:23:33 PM
 #87017

in a free market, money represents energy, the ability to do useful work. When you factor in total costs per mile, including fuel, maintenance, purchase price, resale value- electrics and hybrids are more expensive than internal combustion cars. That means they consume more energy and are WORSE for the environment. When you factor in that electrics and hybrids are subsidized, the case for them is even weaker.

Sure, mining takes electricity, but a heluva lot less energy than it takes the government to maintain the guns and the thugs who force us to pay our taxes in government fiat. This is a benefit of crypto I never hear anyone talking about.
JorgeStolfi
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February 12, 2014, 03:24:26 PM
 #87018

Looking at the historic price charts for the last few years, I would think that China is responsible for 95% of the current price.

Specifically, it seems that the Feb-Apr 2013 price increase, from ~17 US$ to ~100 US$, was due to the opening of BTC-China in Hong Kong; and the Oct-Nov rise from ~100 US$ to ~1100 US$ followed the opening of Huobi in Beijing, aided by OKCoin which had opened a few months earlier.

This explanation would make economic sense, since the opening of a new large market for a product with fixed supply should make the price rise.

Further evidence of China's predominance is that the price fell to almost a half when the Chinese government started restricting the use of bitcoins, and partially recovered when Huobi and OKCoin found that they could still do currency deposits and withdrawals through a Chinese bank.  In contrast, similar restrictions by other large countries without significant exchanges (such as Russia, India, and Indonesia) do not seem to have had a significant impact on price.

Finally it is evident that the prices in all functioning exchanges, inside and outside China, are closely tied together, so that any significant change in one is echoed in all the others within a few minutes.  Presumably this is due to arbitrage trading.  From what I understand, arbitrage between two markets should have the greater influence on the market which has the lower liquidity, which is usually the one with smaller volume.  That is, the larger markets tend to drag the smaller ones, as one would expect.

Huobi's CEO recently stated that they have about ten thousand actively trading clients.  One cannot trust this sort of data, except as an upper bound: the real number may be much less, but not much more.   It would be nice to have similar estimates for the other exchanges.  (We have their trade volumes, but since Huobi has no transaction fees, and the others have, one cannot simply use the same ratio.)

It would be nice also to have the total coins and cash in the client accounts of each exchange, as well as in the exchange's reserves.  These numbers should be basic transparency requirements in an eventual regulation of the exchanges, whether by government or by the community.

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February 12, 2014, 03:25:35 PM
 #87019

This literally made me laugh. Tesla? srsly? Electric cars are no improvement over internal combustion. There's the issue of power density, ya know, batteries- those things that keep catching on fire and exploding in Tesla cars?

You've obviously never driven a Tesla.  Power and Luxury.  Definitely the best car ever made.  I don't care about the tech.  It could run on clubbing baby seals for all I care.

And they burn and explode at a much lower rate than do internal combustion cars.
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February 12, 2014, 03:32:17 PM
 #87020

This literally made me laugh. Tesla? srsly? Electric cars are no improvement over internal combustion. There's the issue of power density, ya know, batteries- those things that keep catching on fire and exploding in Tesla cars?

You've obviously never driven a Tesla.  Power and Luxury.  Definitely the best car ever made.  I don't care about the tech.  It could run on clubbing baby seals for all I care.

And they burn and explode at a much lower rate than do internal combustion cars.


Common , let's not get overboard with this Smiley
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