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

[JamesBrown]

Bears seem to have went to sleep?
WarrenBuffert and his "crew" not dumping 1000BTC in 3 phases anymore?

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[BTCtrader71]

For example I would love to buy more BTC right now at what I consider bargain prices, but I can't afford it. I wonder how many people are in a similar situation. I would imagine there would be some whales looking to get in cheap, but with the macroeconomic picture deteriorating by the day, they may have bigger concerns than our little experimental currency.

I've been thinking the same thing:

I think that many of the long term HODLers never expected it to get this low, have already invested as much as they are able at this point in time, and simply don't have the discretionary funds at the moment to provide strong buying support. Even the Tim Drapers of the world are quite possibly tapped out for now.

[NotLambchop]

...
Many many People, companies and national governments owe an extremely large amount of money that they can only make payments on by taking on new debt. If credit dries up, it presents a systemic risk that can only be halted by massive new liquidity injections from the central banks. ...

Who is the lucky guy all this debt is owed to?  Does Dawg The Bounty Hunter collect for him?  'Coz if he does, "People, companies and national governments" will surely pay.

It's owed to banks. These banks lend money to almost anyone and when it gets paid back, they keep the interest (profits), but when it doesn't get payed back, they run crying to the central banks for a bail-out. And they get a bail-out, which is why when the dust settles they go right back to loose lending standards. Privatized gains and socialized losses. It is a major reason why we are trying to create an alternative.

I see.  So these banks are accumulating more and more of their own worthless paper?  And those who are dumb enough to hold massive savings in that worthless paper get poorer for it?  But the poor people, the ones who have no savings, lose nothing?
Can't think of a fairer system, to tell you the truth.  Go go banks!

[NotLambchop]

Bears seem to have went to sleep?
WarrenBuffert and his "crew" not dumping 1000BTC in 3 phases anymore?

Wait, you're proud that for the first day since ever, the price hasn't tanked?  I remember bulls being huge fans of "The Big Picture."  "Zoom Out," they say.  So zoom out from 24hrs to  3d | 7d | 30d | 6m.  Yep.
Bears farting through silk is all I see

[ChuckBuck]

Still waiting for Warren Buffert's Phase 4 10,000 BTC dumping announcement...

[BlindMayorBitcorn]

Bears seem to have went to sleep?
WarrenBuffert and his "crew" not dumping 1000BTC in 3 phases anymore?

Wait, you're proud that for the first day since ever, the price hasn't tanked?  I remember bulls being huge fans of "The Big Picture."  "Zoom Out," they say.  So zoom out from 24hrs to  3d | 7d | 30d | 6m.  Yep.
Bears farting through silk is all I see

LOL

You think we have more hard times ahead?

[billyjoeallen]

...
Many many People, companies and national governments owe an extremely large amount of money that they can only make payments on by taking on new debt. If credit dries up, it presents a systemic risk that can only be halted by massive new liquidity injections from the central banks. ...

Who is the lucky guy all this debt is owed to?  Does Dawg The Bounty Hunter collect for him?  'Coz if he does, "People, companies and national governments" will surely pay.

It's owed to banks. These banks lend money to almost anyone and when it gets paid back, they keep the interest (profits), but when it doesn't get payed back, they run crying to the central banks for a bail-out. And they get a bail-out, which is why when the dust settles they go right back to loose lending standards. Privatized gains and socialized losses. It is a major reason why we are trying to create an alternative.

I see.  So these banks are accumulating more and more of their own worthless paper?  And those who are dumb enough to hold massive savings in that worthless paper get poorer for it?  But the poor people, the ones who have no savings, lose nothing?
Can't think of a fairer system, to tell you the truth.  Go go banks!

I know you're trolling, but for the benefit of anyone else reading this exchange: the reason why the banks are in such trouble is because the money they have lent out is not their money. It belongs to their depositors. It belongs to us. If enough loans default, then not just the banks get wiped out, but we do too. There isn't even a fraction of enough money in the FDIC reserve to cover even one of the Big Five banks going under. FDIC insurance does not prevent bank runs. It just insures that they will all fail at once.

[HarmonLi]

Still waiting for Warren Buffert's Phase 4 10,000 BTC dumping announcement...

Well if they really do that, go ahead, Warren They can't continue doing that forever! On a serious note... don't you guys think a lot of the "big", I mean... BIG players put a few m$ into Bitcoin, "just in case..."?

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[BTCtrader71]

...
Many many People, companies and national governments owe an extremely large amount of money that they can only make payments on by taking on new debt. If credit dries up, it presents a systemic risk that can only be halted by massive new liquidity injections from the central banks. ...

Who is the lucky guy all this debt is owed to?  Does Dawg The Bounty Hunter collect for him?  'Coz if he does, "People, companies and national governments" will surely pay.

It's owed to banks. These banks lend money to almost anyone and when it gets paid back, they keep the interest (profits), but when it doesn't get payed back, they run crying to the central banks for a bail-out. And they get a bail-out, which is why when the dust settles they go right back to loose lending standards. Privatized gains and socialized losses. It is a major reason why we are trying to create an alternative.

I see.  So these banks are accumulating more and more of their own worthless paper?  And those who are dumb enough to hold massive savings in that worthless paper get poorer for it?  But the poor people, the ones who have no savings, lose nothing?
Can't think of a fairer system, to tell you the truth.  Go go banks!

Are you really not following what billyjoeallen is saying, lambchop? Or are you being deliberately obtuse? Like in this video (jump straight to 3:30):
https://www.youtube.com/watch?v=_IrCgt-Bt1I

[GaliX]

will we break 220 tonight?

[NotLambchop]

...
Many many People, companies and national governments owe an extremely large amount of money that they can only make payments on by taking on new debt. If credit dries up, it presents a systemic risk that can only be halted by massive new liquidity injections from the central banks. ...

Who is the lucky guy all this debt is owed to?  Does Dawg The Bounty Hunter collect for him?  'Coz if he does, "People, companies and national governments" will surely pay.

It's owed to banks. These banks lend money to almost anyone and when it gets paid back, they keep the interest (profits), but when it doesn't get payed back, they run crying to the central banks for a bail-out. And they get a bail-out, which is why when the dust settles they go right back to loose lending standards. Privatized gains and socialized losses. It is a major reason why we are trying to create an alternative.

I see.  So these banks are accumulating more and more of their own worthless paper?  And those who are dumb enough to hold massive savings in that worthless paper get poorer for it?  But the poor people, the ones who have no savings, lose nothing?
Can't think of a fairer system, to tell you the truth.  Go go banks!

I know you're trolling, but for the benefit of anyone else reading this exchange: the reason why the banks are in such trouble is because the money they have lent out is not their money. It belongs to their depositors. It belongs to us. If enough loans default, then not just the banks get wiped out, but we do too. There isn't even a fraction of enough money in the FDIC reserve to cover even one of the Big Five banks going under. FDIC insurance does not prevent bank runs. It just insures that they will all fail at once.

Could you remind me the last time FDIC has been unable to pay?  
If enough people go to the same coffee shop all at the same time, there'd be carnage.  Fortunately, shit like that hasn't happened yet, so while it remains a metaphysical possibility, color me not worried.

@BTCtrader71:  Can you say it in words?  I'm afraid your video is some variant of "Money as Debt" or some such.  Been without sleep too long, that much stupid could kill me.

[poncho32]

will we break 220 tonight?

We might bounce above and below it a few times tonight.

[adamstgBit]

[aztecminer]

http://www.reddit.com/r/Bitcoin/comments/2skgcr/i_was_at_the_ross_ulbricht_silk_road_trial_day_3/

Mark and ashley barr

[shmadz]

...
Many many People, companies and national governments owe an extremely large amount of money that they can only make payments on by taking on new debt. If credit dries up, it presents a systemic risk that can only be halted by massive new liquidity injections from the central banks. ...

Who is the lucky guy all this debt is owed to?  [...]

It's owed to banks. These banks lend money to almost anyone and when it gets paid back, they keep the interest (profits), but when it doesn't get payed back, they run crying to the central banks for a bail-out. And they get a bail-out, which is why when the dust settles they go right back to loose lending standards. Privatized gains and socialized losses. It is a major reason why we are trying to create an alternative.

*well put, best thing I've read on here for days.

[BTCtrader71]

...
Many many People, companies and national governments owe an extremely large amount of money that they can only make payments on by taking on new debt. If credit dries up, it presents a systemic risk that can only be halted by massive new liquidity injections from the central banks. ...

Who is the lucky guy all this debt is owed to?  Does Dawg The Bounty Hunter collect for him?  'Coz if he does, "People, companies and national governments" will surely pay.

It's owed to banks. These banks lend money to almost anyone and when it gets paid back, they keep the interest (profits), but when it doesn't get payed back, they run crying to the central banks for a bail-out. And they get a bail-out, which is why when the dust settles they go right back to loose lending standards. Privatized gains and socialized losses. It is a major reason why we are trying to create an alternative.

I see.  So these banks are accumulating more and more of their own worthless paper?  And those who are dumb enough to hold massive savings in that worthless paper get poorer for it?  But the poor people, the ones who have no savings, lose nothing?
Can't think of a fairer system, to tell you the truth.  Go go banks!

I know you're trolling, but for the benefit of anyone else reading this exchange: the reason why the banks are in such trouble is because the money they have lent out is not their money. It belongs to their depositors. It belongs to us. If enough loans default, then not just the banks get wiped out, but we do too. There isn't even a fraction of enough money in the FDIC reserve to cover even one of the Big Five banks going under. FDIC insurance does not prevent bank runs. It just insures that they will all fail at once.

Could you remind me the last time FDIC has been unable to pay?  
If enough people go to the same coffee shop all at the same time, there'd be carnage.  Fortunately, shit like that hasn't happened yet, so while it remains a metaphysical possibility, color me not worried.

@BTCtrader71:  Can you say it in words?  I'm afraid your video is some variant of "Money as Debt" or some such.  Been without sleep too long, that much stupid could kill me.

It's from one of the greatest movies of all time, the Shawshank Redemption: "How can you be so obtuse? Is it deliberate?"

I'm pretty sure you are being deliberately obtuse, thus making it pointless for me to direct you to some dry and didactic video. I'm just hoping that even obtuse trolls enjoy movies ....

[NotLambchop]

^TL;DR: You can't say it in words?

[BTCtrader71]

^TL;DR: You can't say it in words?

In case you missed it, these are the words:
You (notlambchop) are being deliberately obtuse.

[ssmc2]

^TL;DR: You can't say it in words?

In case you missed it, these are the words:
You (notlambchop) are being deliberately obtuse.