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

[Wekkel]

it has now formed a double cup formation.

We know what double cups can do 

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[coinableS]

it has now formed a double cup formation.

What's the cup size

[sAt0sHiFanClub]

Again, my original point was that the future value of bitcoin is being predicated to a large extent on the 21m cap, a belief based on faith more than reality.

I think it's predicated mostly on the belief that the majority of people (miners in this case) will act rationally.  I would say that most miners consider the 21M coin cap to be a defining characteristic of Bitcoin, and probably the most important characteristic that gives the coin value.  If you accept that premise, then it is logical to assume that miners will not act irrationally by destroying the value that is their whole incentive for mining in the first place.

Good point, well made.

But raising the cap would be  an indirect consequence of adjusting the halving frequency, so by increasing the cap, you would be extending the [higher] reward period for miners

Since we havent reached the point where tx fees outweigh coin reward, do you think that might become an incentive for miners to increase the cap? (bear in mind that it would be a slow process, with no immediate dump of coins on the market.)

[Kupsi]

Again, my original point was that the future value of bitcoin is being predicated to a large extent on the 21m cap, a belief based on faith more than reality.

I think it's predicated mostly on the belief that the majority of people (miners in this case) will act rationally.  I would say that most miners consider the 21M coin cap to be a defining characteristic of Bitcoin, and probably the most important characteristic that gives the coin value.  If you accept that premise, then it is logical to assume that miners will not act irrationally by destroying the value that is their whole incentive for mining in the first place.

Good point, well made.

But raising the cap would be  an indirect consequence of adjusting the halving frequency, so by increasing the cap, you would be extending the [higher] reward period for miners

Since we havent reached the point where tx fees outweigh coin reward, do you think that might become an incentive for miners to increase the cap? (bear in mind that it would be a slow process, with no immediate dump of coins on the market.)

The miners can try to increase the cap all they want. The regular users will not use their new-cap-software.

[tarmi]

 

[SkyValeey]

http://navigatethestockmarket.blogspot.com/2012/11/chart-patterns-predict-stock-market.html

[spooderman]

imo if we go up now the the bull market is here to stay. if we go down, a few more months of fucking about.

[Cassius]

Oh my fucking god, I just found out Terry Pratchett died..

Fuck this day.

 

 

[hdbuck]

http://navigatethestockmarket.blogspot.com/2012/11/chart-patterns-predict-stock-market.html

dead cat bounce! ^^

[sAt0sHiFanClub]

Of course he is right. it is akin to share dilution

What would the difference be between

21 million coins at $1 dollar each

and 42 million coins at 50 cents each?

No. That would be a precision change (which is also allowed)

Bust my balls all you like. I like robust debate, it makes it worthwhile. As long as its done intelligently.

And dont worry, I see your point. But it dont change the fact that Bitcoin has a built in price relief valve that a lot of people seem very afraid to mention.

Just sayin'

[D05GTO]

http://navigatethestockmarket.blogspot.com/2012/11/chart-patterns-predict-stock-market.html

dead cat bounce! ^^

That's valid maybe if we were in a downtrend.. but what about uptrends?  Oh yeah, usually breakouts to the upside.

[xyzzy099]

Again, my original point was that the future value of bitcoin is being predicated to a large extent on the 21m cap, a belief based on faith more than reality.

I think it's predicated mostly on the belief that the majority of people (miners in this case) will act rationally.  I would say that most miners consider the 21M coin cap to be a defining characteristic of Bitcoin, and probably the most important characteristic that gives the coin value.  If you accept that premise, then it is logical to assume that miners will not act irrationally by destroying the value that is their whole incentive for mining in the first place.

Good point, well made.

But raising the cap would be  an indirect consequence of adjusting the halving frequency, so by increasing the cap, you would be extending the [higher] reward period for miners

Since we havent reached the point where tx fees outweigh coin reward, do you think that might become an incentive for miners to increase the cap? (bear in mind that it would be a slow process, with no immediate dump of coins on the market.)

I think miners understand that any such change would destroy the faith that users have in the coin, as the known-in-advance maximum supply is a critical component of the valuation.  I can't imagine a scenario where increasing the limit would actually be a win for the miners.

[lightfoot]

Oh my fucking god, I just found out Terry Pratchett died..

Fuck this day.

 

Drat. I really liked him a lot.

[Grafzep]

Of course he is right. it is akin to share dilution

What would the difference be between

21 million coins at $1 dollar each

and 42 million coins at 50 cents each?

No. That would be a precision change (which is also allowed)

Bust my balls all you like. I like robust debate, it makes it worthwhile. As long as its done intelligently.

And dont worry, I see your point. But it dont change the fact that Bitcoin has a built in price relief valve that a lot of people seem very afraid to mention.

Just sayin'

Hey, newbie troll, enough already. Go start your own thread for this bollocks.

[SkyValeey]

I think we're going UP but correction is very good now (to 260-280, max to 240).

For chart is always better to go with corrections than in no-correction crazy pump mode (look at January).

[damiano]

$300 tonight, let's hope we stay above this time

If we slay that bear whale

[infofront]

I think we're going UP but correction is very good now (to 260-280, max to 240).

For chart is always better to go with corrections than in no-correction crazy pump mode (look at January).

I agree. I think we'll see low 280s by the end of next week.

[Lauda]

I wonder how many times the words 'bear' and 'whale' have been used in this thread?
February reminds me of October 2013, and then in November it just went crazy. I'm not saying that it will happen, nor that it should, but positive gains are always welcome.

[damiano]

Actually were going down.  I just ordered 2500 from circle and usually when I buy the price tanks

Sorry guys it's my fault

[ChartBuddy]

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