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

[ivyleague1985]

Tell us again how in your view Vikram Pandit is stupid and ill-informed.

How many bitcoins did he buy?

I have no way of knowing that but I am quite certain he did not invest in Coinbase while expecting BTC to tank.

Indeed, it is puzzling why Coinbase, of all bitcon companies, is getting so much investment.  Perhaps it is going to be more than just a bitcoin payment processor?

By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.

Also by the way: I still would not dare to guess what will happen to the price of bitcoin in the medium term.   There may be another market opening, or there may not be.  How would I know?

They are trying to do a USD wallet app to compete w PayPal, Google wallet, apple pay.  Their business model doesn't rely on solely Bitcoins price

There is association indeed.

Price is related with confidence and faith. Confidence and faith will impact acceptance. Acceptance will affect the number of wallets opened at coinbase. There is a well connected chain between price and the success of coinbase.

[twiifm]

Tell us again how in your view Vikram Pandit is stupid and ill-informed.

How many bitcoins did he buy?

I have no way of knowing that but I am quite certain he did not invest in Coinbase while expecting BTC to tank.

Indeed, it is puzzling why Coinbase, of all bitcon companies, is getting so much investment.  Perhaps it is going to be more than just a bitcoin payment processor?

By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.

Also by the way: I still would not dare to guess what will happen to the price of bitcoin in the medium term.   There may be another market opening, or there may not be.  How would I know?

They are trying to do a USD wallet app to compete w PayPal, Google wallet, apple pay.  Their business model doesn't rely on solely Bitcoins price

There is association indeed.

Price is related with confidence and faith. Confidence and faith will impact acceptance. Acceptance will affect the number of wallets opened at coinbase. There is a well connected chain between price and the success of coinbase.

Not if they can get their USD wallet out there.  Their business model takes fees on transactions.  They only lose money if they hold Bitcoin while the price drops.  Whether they can get user traction is another story

[Melbustus]

...
By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.
...

I'm a big Warren Buffet fan (at least as far as his evolved value-investing approach goes). I've read his annual reports, several bios, watched many of his interviews, etc.

In my "normal" investing (ie, outside the BTC world), I tend to do mostly value investing, except where I have specific domain expertise that I feel gives me an edge.

Like Bitcoin for example. It has been unfortunate that Warren has chosen to comment in a domain in which he has no expertise, being famously and self-admittedly tech-inept, yet he has done so nonetheless, obviously. And, quite frankly, from the tech-illiterate perspective, Bitcoin can be difficult to understand.

Furthermore, Bitcoin is a play on growth, not on unlocking existing value, and is therefore antithetical to Buffet's core investing competencies even without the tech-literacy requirement. So no surprise that he doesn't see it, and hard to give any weight to his opinion in this area, brilliant though he is.

[Specular]

OK Coin

[ivyleague1985]

Tell us again how in your view Vikram Pandit is stupid and ill-informed.

How many bitcoins did he buy?

I have no way of knowing that but I am quite certain he did not invest in Coinbase while expecting BTC to tank.

Indeed, it is puzzling why Coinbase, of all bitcon companies, is getting so much investment.  Perhaps it is going to be more than just a bitcoin payment processor?

By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.

Also by the way: I still would not dare to guess what will happen to the price of bitcoin in the medium term.   There may be another market opening, or there may not be.  How would I know?

They are trying to do a USD wallet app to compete w PayPal, Google wallet, apple pay.  Their business model doesn't rely on solely Bitcoins price

There is association indeed.

Price is related with confidence and faith. Confidence and faith will impact acceptance. Acceptance will affect the number of wallets opened at coinbase. There is a well connected chain between price and the success of coinbase.

Not if they can get their USD wallet out there.  Their business model takes fees on transactions.  They only lose money if they hold Bitcoin while the price drops.  Whether they can get user traction is another story

USD wallet is NOT a selling point but a safety hedge for coinbase.

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[gkv9]

Technicals showing a Triangle formed... Let's hope this time it initiates a breakout upside and show some greens...

[twiifm]

Tell us again how in your view Vikram Pandit is stupid and ill-informed.

How many bitcoins did he buy?

I have no way of knowing that but I am quite certain he did not invest in Coinbase while expecting BTC to tank.

Indeed, it is puzzling why Coinbase, of all bitcon companies, is getting so much investment.  Perhaps it is going to be more than just a bitcoin payment processor?

By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.

Also by the way: I still would not dare to guess what will happen to the price of bitcoin in the medium term.   There may be another market opening, or there may not be.  How would I know?

They are trying to do a USD wallet app to compete w PayPal, Google wallet, apple pay.  Their business model doesn't rely on solely Bitcoins price

There is association indeed.

Price is related with confidence and faith. Confidence and faith will impact acceptance. Acceptance will affect the number of wallets opened at coinbase. There is a well connected chain between price and the success of coinbase.

Not if they can get their USD wallet out there.  Their business model takes fees on transactions.  They only lose money if they hold Bitcoin while the price drops.  Whether they can get user traction is another story

USD wallet is NOT a selling point but a safety hedge for coinbase.

It's probably a selling point to the investors more than Bitcoin.

[JorgeStolfi]

BTW, richest Chinese billionaire Lee Ka Shing invested real money into Bitcoin companies, why no one mentioned this?

I didn't see that, but I saw this post by @Walsoraj:

Chinese famous finance investor Duan Hongbin（端宏斌） said that he has selt out all of his bitcoin by his official weibo and invest all money in chinese a stock and Hongkong stock.

Some Chinese tweets reveal that not only exchanges are doing insider trading, but they are also hiring writers to post all sorts or bashing and trolling articles to manipulate the price.

Methinks that them dumping their coins by the tens of thousands had a lot more effect on price than any amount of "FUD" posted to forums.  How many coins did I convince you to sell yet?

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[Mervyn_Pumpkinhead]

...
By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.
...

I'm a big Warren Buffet fan (at least as far as his evolved value-investing approach goes). I've read his annual reports, several bios, watched many of his interviews, etc.

In my "normal" investing (ie, outside the BTC world), I tend to do mostly value investing, except where I have specific domain expertise that I feel gives me an edge.

Like Bitcoin for example. It has been unfortunate that Warren has chosen to comment in a domain in which he has no expertise, being famously and self-admittedly tech-inept, yet he has done so nonetheless, obviously. And, quite frankly, from the tech-illiterate perspective, Bitcoin can be difficult to understand.

Furthermore, Bitcoin is a play on growth, not on unlocking existing value, and is therefore antithetical to Buffet's core investing competencies even without the tech-literacy requirement. So no surprise that he doesn't see it, and hard to give any weight to his opinion in this area, brilliant though he is.

While bitcoin the technology could be difficult to understand to laymen, then bitcoin the currency isn't hard to understand to most.
The majority of coins are held by unknown people, who in all probability, are criminals or amoral people of different kind. Like hackers, con-artists, drug dealers, insider trading exchange owners etc.
Buffets opinion was about the currency, not the technology. And investing in the technology would mean to invest into companies that use the technology for more practical purposes then the current "bitcoin the currency".

[marcus_of_augustus]

The majority of coins are held by unknown people, who in all probability, are criminals or amoral people of different kind. Like hackers, con-artists, drug dealers, insider trading exchange owners etc.

... at this point the only response to such offensive accusations is ... go fuck yourself!

[Mervyn_Pumpkinhead]

The majority of coins are held by unknown people, who in all probability, are criminals or amoral people of different kind. Like hackers, con-artists, drug dealers, insider trading exchange owners etc.

... at this point the only response to such offensive accusations is ... go fuck yourself!

spoken like a true bitcoin owner..

[solex]

OK Coin

Similar to what happened when the bear market ended at $65 after the $266 peak...

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[twiifm]

...
By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.
...

I'm a big Warren Buffet fan (at least as far as his evolved value-investing approach goes). I've read his annual reports, several bios, watched many of his interviews, etc.

In my "normal" investing (ie, outside the BTC world), I tend to do mostly value investing, except where I have specific domain expertise that I feel gives me an edge.

Like Bitcoin for example. It has been unfortunate that Warren has chosen to comment in a domain in which he has no expertise, being famously and self-admittedly tech-inept, yet he has done so nonetheless, obviously. And, quite frankly, from the tech-illiterate perspective, Bitcoin can be difficult to understand.

Furthermore, Bitcoin is a play on growth, not on unlocking existing value, and is therefore antithetical to Buffet's core investing competencies even without the tech-literacy requirement. So no surprise that he doesn't see it, and hard to give any weight to his opinion in this area, brilliant though he is.

While bitcoin the technology could be difficult to understand to laymen, then bitcoin the currency isn't hard to understand to most.
The majority of coins are held by unknown people, who in all probability, are criminals or amoral people of different kind. Like hackers, con-artists, drug dealers, insider trading exchange owners etc.
Buffets opinion was about the currency, not the technology. And investing in the technology would mean to invest into companies that use the technology for more practical purposes then the current "bitcoin the currency".

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

[madmat]

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

This is as funny as wrong.

[twiifm]

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

This is as funny as wrong.

Thanks!  Glad I made you laugh

[fonsie]

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

Please leave the internet, you are insulting the same neck beard nerds that invented it. Go play with your man bag and your new eyeliner pencil.

lol

[ChartBuddy]

Bitfinex

Bitstamp

Explanation