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

[surfer43]

Here's a question:

What happens to your nation's currency when you go "all in" on bitcoin?

Meaning, the government of said nation (Cypress? Singapore?) fully embraces bitcoin and allows banks to freely exchange their national currency for bitcoins.

The specific question I have is would that make the relative value of that nation's currency rise or fall versus all the other nations?

I don't think you can know that in advance.

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[billyjoeallen]

Holy crap! $49 spread between Coinbase ad Stamp!  Coinbase is in San Francisco, where the core development team is based, so it appears the smart money is very bullish. New money piling in with linked bank accounts.

[billyjoeallen]

Here's a question:

What happens to your nation's currency when you go "all in" on bitcoin?

Meaning, the government of said nation (Cypress? Singapore?) fully embraces bitcoin and allows banks to freely exchange their national currency for bitcoins.

The specific question I have is: would that make the relative value of that nation's currency rise or fall versus all the other nations?

If there was a fixed price, then the currency would skyrocket, but that would be bad for exporters and a trade deficit would grow.

If there was a floating rate, then investment capital would flow in like a spring flood.

[BTC5OOO]

I just hit market buy

this is FOR SURE the bottom

 

$250 coming i'll bet you some abstract coins lolz ;-) ~easyyyyyy m8

[RicePicker]

Bitstamp bull trap. 

So everything that is up is a bulltrap, right? The only legit market non-trap move is the crash to 0 it seems

The market just does not gradually head towards $5xx then in the span of an hour spike back up to where it was before naturally... If it was a slow and gradual move then it would be less of a bull trap. 

[mb300sd]

https://github.com/bitcoin/bitcoin/pull/3656#issuecomment-35055553

[David M]

I don't disagree.  But the shenanigans at Gox are going to be a drag on the market until they get their act together or sink below the water.  

And while the protocol is anti-fragile the price is not.

Fair enough.  

May the price be on your side.

[ChartBuddy]

Explanation

[shmadz]

Here's a question:

What happens to your nation's currency when you go "all in" on bitcoin?

Meaning, the government of said nation (Cypress? Singapore?) fully embraces bitcoin and allows banks to freely exchange their national currency for bitcoins.

The specific question I have is would that make the relative value of that nation's currency rise or fall versus all the other nations?

I don't think you can know that in advance.

yeah, but you could speculate? please?


That original post I just blurted that out there, and my question is true, I honestly would like to hear some opinions on this topic.

I'm still trying to wrap my head around what might happen when the first nation puts the green light on bitcoin, but my first thought is that other currencies might rush into your currency because of the easy exchange into bitcoin (or something like it).

Basically you would take over the US as the issuer of the new world's reserve currency.

Or maybe you just piss off the other nations enough that they quit dealing with you all together and you end up like a free decentralized and open North Korea?

[ShroomsKit]

So we got back to 625 and then someone puts up a wall there to make sure we go down again.
What is it with these people? When is it enough? Why the need to just take us down and then down some more? We'll be at 500 soon if this continues. Will people push it down from there on because there will be cheap coins at 300?
And the sheep in the meantime just keep selling because they think that will get their money back.
Really, when is it enough?

All the bears here, is this what you wanted? Are you extremely happy now? Or do we have to go down further? Are you people even buying coins or do you just enjoy the market crashing and everybody losing money?

I just don't understand the logic of constantly pushing down.

[MoreFun]

So we got back to 625 and then someone puts up a wall there to make sure we go down again.
What is it with these people? When is it enough? Why the need to just take us down and then down some more? We'll be at 500 soon if this continues. Will people push it down from there on because there will be cheap coins at 300?
And the sheep in the meantime just keep selling because they think that will get their money back.
Really, when is it enough?

All the bears here, is this what you wanted? Are you extremely happy now? Or do we have to go down further? Are you people even buying coins or do you just enjoy the market crashing and everybody losing money?

I just don't understand the logic of constantly pushing down.

You don't understand psychology also.

[derpinheimer]

So we got back to 625 and then someone puts up a wall there to make sure we go down again.
What is it with these people? When is it enough? Why the need to just take us down and then down some more? We'll be at 500 soon if this continues. Will people push it down from there on because there will be cheap coins at 300?
And the sheep in the meantime just keep selling because they think that will get their money back.
Really, when is it enough?

All the bears here, is this what you wanted? Are you extremely happy now? Or do we have to go down further? Are you people even buying coins or do you just enjoy the market crashing and everybody losing money?

I just don't understand the logic of constantly pushing down.

Hey, hes back! Crying again...

Its enough when the market decides it is enough.

[surfer43]

Here's a question:

What happens to your nation's currency when you go "all in" on bitcoin?

Meaning, the government of said nation (Cypress? Singapore?) fully embraces bitcoin and allows banks to freely exchange their national currency for bitcoins.

The specific question I have is would that make the relative value of that nation's currency rise or fall versus all the other nations?

I don't think you can know that in advance.

yeah, but you could speculate? please?


That original post I just blurted that out there, and my question is true, I honestly would like to hear some opinions on this topic.

I'm still trying to wrap my head around what might happen when the first nation puts the green light on bitcoin, but my first thought is that other currencies might rush into your currency because of the easy exchange into bitcoin (or something like it).

Basically you would take over the US as the issuer of the new world's reserve currency.

Or maybe you just piss off the other nations enough that they quit dealing with you all together and you end up like a free decentralized and open North Korea?

The nation's currency would most likely locally lose value and therefore relatively lose value compared to other nations' currencies. But since the country now uses Bitcoin, then Bitcoin will be more valuable then other nations' relatively... I have no clue 

[shmadz]

So we got back to 625 and then someone puts up a wall there to make sure we go down again.
What is it with these people? When is it enough? Why the need to just take us down and then down some more? We'll be at 500 soon if this continues. Will people push it down from there on because there will be cheap coins at 300?
And the sheep in the meantime just keep selling because they think that will get their money back.
Really, when is it enough?

All the bears here, is this what you wanted? Are you extremely happy now? Or do we have to go down further? Are you people even buying coins or do you just enjoy the market crashing and everybody losing money?

I just don't understand the logic of constantly pushing down.

I don't know, but one possiblility is that traditional fiat is easier to launder than bitcoins?

[surfer43]

local bottom of 390 #GOX

[shmadz]

<snip>
The nation's currency would most likely locally lose value and therefore relatively lose value compared to other nations' currencies. But since the country now uses Bitcoin, then Bitcoin will be more valuable then other nations' relatively... I have no clue 

I also have no clue, that's why I asked the question.

Thank you for your thoughts.

[OldGeek]

Well shat.  BTC-e api is down.  Crapoola.

[Mythul]

Wow only 2k coins until @165 at Gox. This is crazy. We will the exchanges just decouple ?

[shmadz]

Well shat.  BTC-e api is down.  Crapoola.

hehehe Crapoola liek craps...

<rolling the dice> cummooooon cheap coins. cheap coins, no whammies! commmon cheap cooooinsssssss, stop!!!!

Mua mua mu muaaaaahhhh, berooowoowwwowowwwwwww...

oops

[krampus]

Well shat.  BTC-e api is down.  Crapoola.

Seriously. I was in the middle of a maneuver.

@#$%!