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

[cheekychap]

With their currencies tanking, why aren't Greeks and Russians buying more bitcoins?

Is the drahma tanking? hmm..

he means the euro. and there has been a massive increase in volume on kraken which suggest they are to a certain extent.

Why is it, that they would use only Kraken and not the other exchanges .Does Kraken cater to them better ?

[phoenix1]

Jees ... the level of delusion in thinking that people will rush to the security of BTC in times of crisis. We are soooo not ready for that and neither are the masses. But the story will be spread and people here will buy into it, not realising that it is just another pump, like Coinbase, and that until enough infrastructure is in place BTC is mostly useless to people in these countries in crisis. They have more pressing problems, like how to find work and how to feed their families, and in most cases are not going to find BTC either useful or easy to use at the moment. That will likely change with the level of infrastructure investment, but that takes TIME.

Switch from your decimated currency to the worst (or was it 2nd) performer of 2014 ... sounds reaaaally smart  

Anyone with decent chunks of cash will likely be switching it to dollars if they have not done so already (and doing very well out of it)

And the fact that people hope that the pain of others will be their own saviour is, quite frankly, nauseating to me

Buy BTC because you believe in it and believe it has a future, not because you think it will make you rich quickly from somebody's else's pain. And only risk what you can afford to lose. There is no real sign yet that this bear market is over IMO. It may be, but it is definitely not a given that the low is in.

Coming here and asking for advice on BTC is like going to a gold forum and asking Gold Bugs if you should buy gold NOW! Hmmm ... what do you think most will say most of the time. Call it 'cult', 'perception bias', 'dogma','vested interest', whatever you like - its no different.

I am not bashing BTC or Crypto in general, it is extremely interesting and I think it will almost certainly have some place in the future financial order, but changing people's perceptions of what money is and how to use it does not happen overnight. This is just the beginning.

And neither does changing people's perception of BTC as a 'get-rich-quick' scheme - that takes a grinding bear market and some independent thought. Perhaps that is why this is taking so long ... lots of new entrants have to learn to love BTC for what it is or learn the hard way what it is not.

/soap box mode

[ChartBuddy]

Coin
Explanation

[aztecminer]

Damn, shit's more fucked up than I thought:


http://motherboard.vice.com/read/the-silk-road-boss-allegedly-encouraged-the-hells-angels-to-kill-a-blackmailer

[damiano]

Seems like 220 is going to hold

[brg444]

Jees ... the level of delusion in thinking that people will rush to the security of BTC in times of crisis. We are soooo not ready for that and neither are the masses. But the story will be spread and people here will buy into it, not realising that it is just another pump, like Coinbase, and that until enough infrastructure is in place BTC is mostly useless to people in these countries in crisis. They have more pressing problems, like how to find work and how to feed their families, and in most cases are not going to find BTC either useful or easy to use at the moment. That will likely change with the level of infrastructure investment, but that takes TIME.

Switch from your decimated currency to the worst (or was it 2nd) performer of 2014 ... sounds reaaaally smart  

Anyone with decent chunks of cash will likely be switching it to dollars if they have not done so already (and doing very well out of it)

And the fact that people hope that the pain of others will be their own saviour is, quite frankly, nauseating to me

Buy BTC because you believe in it and believe it has a future, not because you think it will make you rich quickly from somebody's else's pain. And only risk what you can afford to lose. There is no real sign yet that this bear market is over IMO. It may be, but it is definitely not a given that the low is in.

Coming here and asking for advice on BTC is like going to a gold forum and asking Gold Bugs if you should buy gold NOW! Hmmm ... what do you think most will say most of the time. Call it 'cult', 'perception bias', 'dogma','vested interest', whatever you like - its no different.

I am not bashing BTC or Crypto in general, it is extremely interesting and I think it will almost certainly have some place in the future financial order, but changing people's perceptions of what money is and how to use it does not happen overnight. This is just the beginning.

And neither does changing people's perception of BTC as a 'get-rich-quick' scheme - that takes a grinding bear market and some independent thought. Perhaps that is why this is taking so long ... lots of new entrants have to learn to love BTC for what it is or learn the hard way what it is not.

/soap box mode

Mostly agree with the gist of your argument but the kind of change some are suggesting (even you) does not wait for all "people's perceptions of what money is" to change.

Ultimately laggards will be forced into BTC by economic reality. Question remains when will this take place and at what point are you at a loss (pain) jumping ship.

Bitcoin time waits for no man.

[dropt]

Damn, shit's more fucked up than I thought:


http://motherboard.vice.com/read/the-silk-road-boss-allegedly-encouraged-the-hells-angels-to-kill-a-blackmailer

You guys really are new to this thing aren't you?  These accusations have been public knowledge for near a year.

[phoenix1]

<nsip>

Mostly agree with the gist of your argument but the kind of change some are suggesting (even you) does not wait for all "people's perceptions of what money is" to change.

Ultimately laggards will be forced into BTC by economic reality. Question remains when will this take place and at what point are you at a loss (pain) jumping ship.

Bitcoin time waits for no man.

That is by no means the certainty that you present it as. This is still an experiment. It may yet fail, or BTC may not be the winner.
Some form of cryptographic money will almost certainly play a part in our future IMO. What part, and when, is very much undecided.

[aztecminer]

Damn, shit's more fucked up than I thought:


http://motherboard.vice.com/read/the-silk-road-boss-allegedly-encouraged-the-hells-angels-to-kill-a-blackmailer

You guys really are new to this thing aren't you?  These accusations have been public knowledge for near a year.

yup . pretty much.

[brg444]

<nsip>

Mostly agree with the gist of your argument but the kind of change some are suggesting (even you) does not wait for all "people's perceptions of what money is" to change.

Ultimately laggards will be forced into BTC by economic reality. Question remains when will this take place and at what point are you at a loss (pain) jumping ship.

Bitcoin time waits for no man.

That is by no means the certainty that you present it as. This is still an experiment. It may yet fail, or BTC may not be the winner.
Some form of cryptographic money will almost certainly play a part in our future IMO. What part, and when, is very much undecided.

The market seems pretty decisive as to where "other forms of crypto money" stand : in the trash bin.

"This is still an experiment" Lol you sound like Gavin

[phoenix1]

The market seems pretty decisive as to where "other forms of crypto money" stand : in the trash bin.

"This is still an experiment" Lol you sound like Gavin

I think you are pressuming that I am talking about the current alt-scene. I am not. I am talking about things that we have not even seen yet, and I am not arrogant or intelligent enough to presume to know what the future holds in that respect

"Experiment" - yes it is ... it's all part of the great mystery of life, constantly evolving  

EDIT : The market priced BTC at $1200 a year or so ago and here we are  at $220, so I would not place too much faith in it as a guiding light. The market is made up of humans and will always be subject to their whims. In their day, 'the markets' placed 'the earth is flat' as a near certainty. And there were no black swans, only white ones, until somebody first saw one, in Australia, I believe. Lots of theories as to why there were none, but in the end, all nonsense.

[kodtycoon]

With their currencies tanking, why aren't Greeks and Russians buying more bitcoins?

Is the drahma tanking? hmm..

he means the euro. and there has been a massive increase in volume on kraken which suggest they are to a certain extent.

Why is it, that they would use only Kraken and not the other exchanges .Does Kraken cater to them better ?

im in europe, and kraken is the best so far that i have used. normally <36 hour sepa transfers. i think its the most prominent exchange in europe with the most volume, and because of the very nice user experience, zero previous security breaches and large investment its probably the most trust worthy. if kraken wasnt around i wouldnt link my bank with any exchange. if you are in the EU, you will naturally look for the best exchange that deals in euros.

[marcus_of_augustus]

https://freedom-to-tinker.com/blog/randomwalker/nine-awesome-bitcoin-projects-at-princeton/

I think we are well past the 'experiment' stage when the best and brightest are doing bitcoin for final year projects ... this is not beanie babies and tulips we are dealing with here you chumps.

Some really awesome projects in here btw, these guys are doing great work, engaged and excited by it ... go find that on wall st.

[Jammalan the Prophet]

With their currencies tanking, why aren't Greeks and Russians buying more bitcoins?

Is the drahma tanking? hmm..

he means the euro. and there has been a massive increase in volume on kraken which suggest they are to a certain extent.

Why is it, that they would use only Kraken and not the other exchanges .Does Kraken cater to them better ?

im in europe, and kraken is the best so far that i have used. normally <36 hour sepa transfers. i think its the most prominent exchange in europe with the most volume, and because of the very nice user experience, zero previous security breaches and large investment its probably the most trust worthy. if kraken wasnt around i wouldnt link my bank with any exchange. if you are in the EU, you will naturally look for the best exchange that deals in euros.

Bitstamp also uses SEPA and I believe it has far more europea users than kraken

[Jammalan the Prophet]

https://freedom-to-tinker.com/blog/randomwalker/nine-awesome-bitcoin-projects-at-princeton/

I think we are well past the 'experiment' stage when the best and brightest are doing bitcoin for final year projects ... this is not beanie babies and tulips we are dealing with here you chumps.

Some really awesome projects in here btw, these guys are doing great work, engaged and excited by it ... go find that on wall st.

Out f those marvelous projects 3 are altcoins.

[blade87]

I'm looking at DRK's long term price and am wondering if this is where BTC is now. It had a similar overshoot back in August and that was its low. If BTC is (hopefully), then very little will happen in 2015 (which is actually what we want because the public may finally view it as finally having matured). Yes this is a much smaller cap alt, but alts do the same thing BTC has done, just on a smaller time and length scale due to liquidity. It's amazing how fractal trends look and it almost doesn't matter what it is trading against.

If this ends up happening, 2015 will be flat, and so coincidentally the 2016 block halving may be the time for a new rise?



Is it critical that the next week might be critical?

[phoenix1]

https://freedom-to-tinker.com/blog/randomwalker/nine-awesome-bitcoin-projects-at-princeton/

I think we are well past the 'experiment' stage when the best and brightest are doing bitcoin for final year projects ... this is not beanie babies and tulips we are dealing with here you chumps.

Some really awesome projects in here btw, these guys are doing great work, engaged and excited by it ... go find that on wall st.

So the brightest and best are experimenting with BTC, that's great

You would come across a lot better if you dropped the insulting attitude BTW

[Warren Buffett]

With their currencies tanking, why aren't Greeks and Russians buying more bitcoins?

Because a tulip scheme is not better than a bad currency.

[gibbtek]

I am thinking of opening an account on bitfinex, unless somebody advises against it, if not would anybody have a referred code for it? thanks

[ChartBuddy]

Coin
Explanation