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

[JorgeStolfi]

the roller coaster any digital currency needs to go through to establish itself as a real alternative to fiat

Wut?

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[dillpicklechips]

NotLambchop:

That's your critique? Some people preach bitcoin? It must not have a future after all if some people are too excited about it. Sorry, but based on your posts your contribution to the "signal to noise" ratio of this forum is mostly noise. It's sad because this forum used to be about learning, debate and education. Now it seems like its overrun by people with ulterior motives and trolls who just want to irritate other bitcoiners.  

I would love to hear your main critiques of bitcoin in another thread though where your posts are on topic. I know you "don't cater to the lowest common denominator" but how else can I see my folly?

[ensjovis]

Thats a lot of your assets to have in btc 50%

Not for a guy that understands bitcoin.

[ElectricMucus]

Bitcoins are not a natural resource, they are a built in example for the proof of concept software that is called Bitcoin.

Let me guess, you want to tell us about some wonderful altcoin that nobody gives a shit about because you think it fixes some technical shortcomings in Bitcoin but you don't have the economic insight to see how far ahead Bitcoin is on every count that matters simply because it has stood the test of time and gone through the roller coaster any digital currency needs to go through to establish itself as a real alternative to fiat?

No, altcoins are worse, they are like building the same wright brothers prototype with another size propeller, painting it in a different color and calling that innovation.

[Brewins]

Thats a lot of your assets to have in btc 50%

Not for a guy that understands bitcoin.

not for a guy that has BTC farm and mines BTC.

[NotLambchop]

... this forum used to be about learning, debate and education. Now it seems like its overrun by shit-scared bagholders hoping against hope they could convince each other they didn't make the most hilarious mistake of their life.

FTFY.  Won't teach you if don't want to learn.  Youse that pinnacle of self-imposed ignorance, the ignore button.  Always dishes that need washing and ditches that need digging.  You'll be OK, God don't make no junk

[JimboToronto]

I guess people who like pony pictures will enjoy your contributions.

 

[NotLambchop]

^Grumpy grampa



What's up, all out of the hardon pills you're strung out on?

[JorgeStolfi]

Thats a lot of your assets to have in btc 50%

Since October, the bitcoin half lost 39% of its value (~380 to ~230).

The cash half is still worth pretty much the same...

[dillpicklechips]

Thats a lot of your assets to have in btc 50%

Since October, the bitcoin half lost 39% of its value (~380 to ~230).

The cash half is still worth pretty much the same...

Do you think boom-bust cycles help prevent over investment and may lead to a better distribution of bitcoins?

[silverfuture]

NotLambchop:

That's your critique? Some people preach bitcoin? It must not have a future after all if some people are too excited about it. Sorry, but based on your posts your contribution to the "signal to noise" ratio of this forum is mostly noise. It's sad because this forum used to be about learning, debate and education. Now it seems like its overrun by people with ulterior motives and trolls who just want to irritate other bitcoiners.  

I would love to hear your main critiques of bitcoin in another thread though where your posts are on topic. I know you "don't cater to the lowest common denominator" but how else can I see my folly?

You do realize this is who you are talking to?





Neither logic nor reason will kill one with no life.

[NotLambchop]

^

[JorgeStolfi]

Do you think boom-bust cycles help prevent over investment and may lead to a better distribution of bitcoins?

The distribution of bitcoins is pretty bad, but I have no idea how it is evolving.  There are many processes going on, some concentrate the coins (for instance, "professional" robot-driving traders collecting coins from many small traders) and others distribute them (for instance, large holders cashing profits by selling at exchanges, directly or through Bitpay). Who knows which kind predominates.

In my view, every bubble could be explained by the opening of a new market, separated from the others by use (drugs, investment, trading), geography, culture, etc..  Some bubbles result in a lasting increase in demand that drives the price up, but some bubbles "deflate" over time, as the market shrinks and the demand returns to the previous level.  The bubble in early 2011 deflated almost completely over the rest of the year.  The Nov/2013 bubble (the Mainland China market) seems to be deflating too.

[Spaceman_Spiff]

Just noticed on the main page of google trends: fourth most asked " what is" question of 2014 : "What is bitcoin?"

[NotHatinJustTrollin]

Any uptrend you can see in bitcoin's price history looks exactly like a textbook penny stock pump&dump.
The 2011 bubble, the two 2013 ones.

They are bubbles, not healthy sustainable uptrends.

Bitcoin looks like a mega bubble that bursted that can be divided by 3 smaller bubbles/pump&dumps, the second one ended up pumping way higher than the first one, the third one ended up pumping way higher than the second one but now retraced completely returning to the second bubble levels.


Doesn't look like something anybody in his right mind should put money in, currently. And that's ignoring the fundamentals, which are pretty bad by themselves...

Only bitcoiners consider bubble/P&D cycles as "natural behaviour and growth of a promising investment".

[Silent Sam]

[macsga]

It's nice to see some movement during the weekend... Maybe it's time to buy some moar?

[dillpicklechips]

The distribution of bitcoins is pretty bad, but I have no idea how it is evolving.  There are many processes going on, some concentrate the coins (for instance, "professional" robot-driving traders collecting coins from many small traders) and others distribute them (for instance, large holders cashing profits by selling at exchanges, directly or through Bitpay). Who knows which kind predominates.

Fiat tends to have poor distribution as well. I've wondered if politics allows newly created money to be concentrated to a few at a faster pace than can trickle down to everyone else. They never see the "trickle down effect". With bitcoin, eventually the new coins stop and has no choice but to slowly become more distributed.

[dillpicklechips]

And that's ignoring the fundamentals, which are pretty bad by themselves...

Such as?

[ChartBuddy]

Coin
Explanation