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

[sAt0sHiFanClub]

I agree. Could you give me your ignore list, and I will copy it.

Here's mine if it's of any use:

http://pastebin.com/DJQxU2zi

Wow. What a wanker that guy is. But at least I made no. 379 of 427.  

[tarmi]

I agree. Could you give me your ignore list, and I will copy it.

Here's mine if it's of any use:

http://pastebin.com/DJQxU2zi

Wow. What a wanker that guy is. But at least I made no. 379 of 427.  

yeah, when I saw the neverending list I instantly put him on ignore.


....


ok bulls, let's work together. this is the plan.

you place some medium sized support at 245, we dump above it and talk shit about double bottom at 236. till we dump on you.

lel

 

[Ask Ken About Love]

...
But now it's just constant shitposts

I feel ya brah, but same shit happens with pretty much every dying coin.  Thanks for the list.

[damiano]

Looks like some longs are closing up and shorts going up.  Not a big jump, but just noting the change

[D05GTO]

I don't get the amount and inflation argument at all.

Well, if you look at this as a numbers game.  There are roughly 2 million people only in the US turning 18 this year.  So that's less than 1 BTC per 18 year old.   So, times the amount of total people in the world, the amount of BTC generated per year is a droplet.   Look at the forum here.. over 1k accounts created per day.

[ChartBuddy]

Coin
Explanation

[Dump3er]

Oh, looks like Most bull-trolls have me on ignore!

Fatman? Wasn't I on your ignore list, also? Please put me there again!

[uhoh]

I agree. Could you give me your ignore list, and I will copy it.

Here's mine if it's of any use:

http://pastebin.com/DJQxU2zi

Cheers

[Ask Ken About Love]

... Look at the forum here.. over 1k accounts created per day.

Good point.

[gizmoh]

Take That Fed Scums  

Federal Agents Face Arrest for Alleged Silk Road Bitcoin Theft
http://www.coindesk.com/federal-agents-face-arrest-for-alleged-silk-road-bitcoin-theft/

[SilenceOfTheLamb]

... Look at the forum here.. over 1k accounts created per day.

Good point.

Nay, excellent point!

[Ask Ken About Love]

Take That Fed Scums  

Federal Agents Face Arrest for Alleged Silk Road Bitcoin Theft
http://www.coindesk.com/federal-agents-face-arrest-for-alleged-silk-road-bitcoin-theft/

Lol, I can't believe you're falling for this.  "OHAI, we criminals just liek U!"  Infiltration 101 material.

[YourMother]

Take That Fed Scums  

Federal Agents Face Arrest for Alleged Silk Road Bitcoin Theft
http://www.coindesk.com/federal-agents-face-arrest-for-alleged-silk-road-bitcoin-theft/

Karl Mark Force IV

Is this a character from a Marvel comic book ? I lol'd!

[sAt0sHiFanClub]

I don't get the amount and inflation argument at all.

Well, if you look at this as a numbers game.  There are roughly 2 million people only in the US turning 18 this year.  So that's less than 1 BTC per 18 year old.   So, times the amount of total people in the world, the amount of BTC generated per year is a droplet.   Look at the forum here.. over 1k accounts created per day.

That has nothing to do with its value. Its value is a function of its market - the value  of all goods traded with it.

If you take paypal for example, it moved $180bn in 26 currencies in 2013. If bitcoin got 10% of that market, say $18bn, it could potentially value a bitcoin at up to $800.

Any other valuation basis is purely delusional.

[NotHatinJustTrollin]

Meahwhile still 0 trades going on at GBTC.


Wait for the ETFs they said, Wall Street they said, Coinbase regulated exchange they said, liquidity they said.


lmao

[aztecminer]

@Dump3r
Yes, hurry up and get some bitcoins before they run out.

What a loathsome marketing! Yuck!

haha ... yes , only 1,000,000 more coins will be produced between now and the end of 2015 , give or take 1/4 of a billion dollars worth at current prices ... and another 3/4 million or so coins before the halving in summer of next year ... after which we can all look forward to only 650,000 coins or so produced per year for the coming 4 years after that ... now that's scarcity !

seriously doubting the dollar is going to make it another five years.

[aminorex]

I don't get the amount and inflation argument at all.

Well, if you look at this as a numbers game.  There are roughly 2 million people only in the US turning 18 this year.  So that's less than 1 BTC per 18 year old.   So, times the amount of total people in the world, the amount of BTC generated per year is a droplet.   Look at the forum here.. over 1k accounts created per day.

That has nothing to do with its value. Its value is a function of its market - the value  of all goods traded with it.

If you take paypal for example, it moved $180bn in 26 currencies in 2013. If bitcoin got 10% of that market, say $18bn, it could potentially value a bitcoin at up to $800.

Any other valuation basis is purely delusional.

You are both right.  Reserve demand needs to be deducted from the float before applying PQ=MV.  D05GTO alludes to the former, while sat0sHiFanClub alludes to the latter.

[Ask Ken About Love]

...
If you take paypal for example, it moved $180bn in 26 currencies in 2013. If bitcoin got 10% of that market, say $18bn, it could potentially value a bitcoin at up to $800.
...

Unless the stress is on "potentially," silly.
1. You buy a Bitcoin from me for $200, using PayPal.
2. I use that $200 to buy two bitcoins a month later, again using PayPal.
3. PayPal has handled $400 worth of transactions, with only $200.
4. $200 is worth $400, QED.

[YourMother]

@Dump3r
Yes, hurry up and get some bitcoins before they run out.

What a loathsome marketing! Yuck!

haha ... yes , only 1,000,000 more coins will be produced between now and the end of 2015 , give or take 1/4 of a billion dollars worth at current prices ... and another 3/4 million or so coins before the halving in summer of next year ... after which we can all look forward to only 650,000 coins or so produced per year for the coming 4 years after that ... now that's scarcity !

seriously doubting the dollar is going to make it another five years.

ROFLMAO!

[12345mm]

(my crime for making the ignore list of people is repeatedly pointing out that the criminal ceo of mtgox mark karpeles used a billion non-existent dollars to manipulate the price of bitcoin since perhaps the very beginning as it was the only exchange for bitcoin for the first several years , but most definitely caused the runup from double digits all the way to the $1200+ high point , culminating in the outright theft of 650,000-850,000 bitcoin , which may or may not have been getting continually dumped into the other new exchanges ever since ... ooops ... did it again ... can't have people be reminded of that ... they might come to the realization that bitcoin , though perhaps not intended to be used as a fraudulent ponzi mechanism , has most certainly been abused as one ... and that today's price is a leftover result of that fraudulent action ... i cannot stress how severe an impact of $1,000,000,000 of "fake new money" spent in a couple months would obviously have on a market as small as bitcoin , which was at the time that fraud began valued at *less than* a billion in total market cap)

(oh also they hate it when i point out ... 1,000,000 unique btc addresses with more than 0.01 btc is representative of 0.0142857 % of the population ... a great many of which are long dormant unused / represent the many multiple addresses of people ... putting that estimated % far lower in terms of actual btc user adoption ... probably by a factor of at least 10 , to lower adoption to 0.001 % of people even holding a dust amount of btc ... evidence of the actual complete lack of public interest or trust in btc despite awareness of it's existence through news reports and 7 years of time)

(they also hate it when i point out that their beloved btc is more than 100,000X worse distributed that the existing fiat monetary system , since in this world 70,000,000 people (1%) owning half of all the wealth is in fact far far more egalitarian and better system to support than a system with 1000 people holding 3/4 of all btc in existence ... tearing the mask off the illusion that bitcoin would result in anything other than total financial tyranny concentrated to an extreme degree by many orders of magnitude if it were to ever accomplish the laughable goal of replacing fiat currencies)