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

[medialab101]

Just sharing something http://www.bitlisten.com/

This is awesome... sat watching it for like 10 minutes.

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[schizoid]

I think part of my point is that if BTC is so valuable as compared with other asset classes, then it holds its value better than other asset classes, then people will flock to BTC rather than currencies ... and then there is a snowball effect where the BTC is holding its value too well and more and more people are flocking to it b/c it is holding its value so well.

Yes, that is the initial growth phase, but eventually a point is reached where everyone is fully invested and can only acquire more BTC if they have income coming in from somewhere.

[windjc]

I strongly disagree with this statement. I'm not sure if you know how to code but in Computer Science you can't brute force yourself to innovation.

If that were true than Microsoft, Apple and Google would be the only successful tech companies and we all know that is not the truth and they buy small companies like crazy.

1 genius computer scientist can do more that 1000 good computer scientists. Did you even look at the Bitcoin code ? It is pretty light. You could write some 1000 lines of code that could change the world forever if you have the skill. And usually in IT, bigger teams are always worst that smaller teams. At least that is my point of view.

Well, you can brute force your way into innovation in the IT field, and Android is one of the latest examples of it. They took a well known and innovative idea about an efficent and mobile OS and they perfected it on their own platform. Just as iOS took it over after Symbian.
Yes, 1 computer scientist can be more productive then 1000, but it doesn't matter if you can buy that 1 just as well as you could buy the 1000.
Small teams.are more effective in every fields, but some projects are just so work intensive that you cant settle with a small team.


Im logging off for today, will reply tomorrow when needed.

I love the way he assumes that even if this happened - google created a coin - which they would never do for a bazillion reasons - that anyone would use it no matter how good it was. LOL. The concept of group dynamics and open source and first mover advantage is completely lost on this guy. He's got a lot of learning to do.

[MikeH]

2) the most prosperous nation and period known in economic history is the free market capitalism under the deflationary gold standard period of the 1800's in USA.

when there was no income tax!

[MikeH]

I may be using the wrong term... but deflationary, means exactly that the currency buys more with the passage of time compared with goods and services.  So let's say a kid is born in 2020 and his parents invest 1 bitcoin into a stored wallet.  At that point, the bitcoin is equal to the equivalence of $10,000 in today's dollars.  Even if the value of the bitcoin goes up by 15% per year (which I believe is fairly modest), then in 20 years that bitcoin would be worth about $200,000 and in 30 years, $900K.  

yea that's what I was referring to as well but the total number of bitcoin users will stabilise at some point and so will the price, if deflationary at all at that point it will be a very low % which won't be incentive enough to hold as an investment.

[andy-bc]

2) the most prosperous nation and period known in economic history is the free market capitalism under the deflationary gold standard period of the 1800's in USA.

when there was no income tax!

And when there was cheap slave labor. A worthy example of 'free' market capitalism, indeed.

[herzmeister]

Just sharing something http://www.bitlisten.com/

This is awesome... sat watching it for like 10 minutes.

that's even awesomer: http://presstokill.com/coins/

[MikeH]

2) the most prosperous nation and period known in economic history is the free market capitalism under the deflationary gold standard period of the 1800's in USA.

when there was no income tax!

And when there was cheap slave labor. A worthy example of 'free' market capitalism, indeed.

haha, yeah - reminds me of Stefan Molyneux..

1. get rid of government
2.
3. profit and peace for mankind

[600watt]

http://blogs.wsj.com/moneybeat/2014/02/17/bitcoins-crisis-is-turning-point-for-currency/

After weeks marked by technological breakdowns, regulatory issues and general questions over its viability, bitcoin is in the midst of the worst crisis since it was proposed in a white paper in 2008.

The turmoil is a watershed. The way bitcoin and its ecosystem react to the problems could determine whether the whole experiment goes the way of Dutch tulips in the 1600s or becomes a historic technological breakthrough like email.

last summer it was down to $ 68,-
now, in its worst crisis, it is at $ 636,-

hodlers have balls of steel. 

[JimboToronto]

Just sharing something http://www.bitlisten.com/

This is awesome... sat watching it for like 10 minutes.

Give it a bit longer and you might see some fairly large transactions like this 35KBTC one:



This isn't the largest I've seen, just the largest I've screencapped.

[sonofliberty]

2) the most prosperous nation and period known in economic history is the free market capitalism under the deflationary gold standard period of the 1800's in USA.

when there was no income tax!

And when there was cheap slave labor. A worthy example of 'free' market capitalism, indeed.

Slavery has never been abolished, just monopolized.

[Luno]

Just sharing something http://www.bitlisten.com/

This is awesome... sat watching it for like 10 minutes.

Give it a bit longer and you might see some fairly large transactions like this 35KBTC one:



This isn't the largest I've seen, just the largest I've screencapped.

For days when everything stinks: http://presstokill.com/coins/ (they have a listen to gox too)

[TERA]

Just sharing something http://www.bitlisten.com/

This is awesome... sat watching it for like 10 minutes.

Give it a bit longer and you might see some fairly large transactions like this 35KBTC one:



This isn't the largest I've seen, just the largest I've screencapped.

For days when everything stinks: http://presstokill.com/coins/ (they have a listen to gox too)

gox trades have never worked for me on any of these sites.

[MikeH]

Slavery has never been abolished, just monopolized.

true, corporations like Nestle still use coca derived from child slavery - and that's not modern day low pay slavery, but long hours, no pay and no escape.

[Kramerc]

Lack of volatility seems to be correlated with an increase in the quality of the posts.

I'm starting to like this.

[JimboToronto]

corporations like Nestle still use coca

I sure hope that was a simple misspelling. 

[tonyq]

Just sharing something http://www.bitlisten.com/

This is awesome... sat watching it for like 10 minutes.

that's even awesomer: http://presstokill.com/coins/
[/quote

[MikeH]

corporations like Nestle still use coca

I sure hope that was a simple misspelling. 

brain fart, cacao :]

[JimboToronto]

corporations like Nestle still use coca

I sure hope that was a simple misspelling. 

brain fart, cacao :]

There might be some truth in it though.

Kinda like when we found out our bumbling incompetent suburbanite mayor was a crackhead. It helped explain a lot of his actions.

 

[HairyMaclairy]

Lack of volatility seems to be correlated with an increase in the quality of the posts.

I'm starting to like this.

Too many words not enough pictures of llamas.