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

[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)

[empowering]

DOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOM ^^

[macsga]

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/

That can't be true. You know, law and order, noblemen, don't care about money... I guess quick wealth always has its way to bypass everything else. 

[Norway]

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

Hfertig
ShroomsKit
luckygenough56
JohnPercent
sporket
FatherBob
Cassandra_PR
Silverspoon
mrkavasaki
Dump3er
William Henry Gates
Son0fLamb
Jammalan the Prophet
NotHatinJustTrollin
Wandererfromabroad
ChildPr0nzUsers
JihadCoinz
fuckoffstolfi
Hellomoon
Errydayrally
MightAsWellIgnore
AnotherAccount?
NewbieJailIsBadMmkay?
trelelel
EVOLUTION_A*D*M*I*N
SilenceOfTheLamb
BullTardLogic
Boooooooooring
btcponzieeg
kwukduck
MatTheCat
12345mm
exocytosis
Mervyn_Pumpkinhead
Wandererfromthenorth
tarmi
YourMother
fat buddah
homo homini lupus
Warren Buffett
Warren Buffert
NotHatinJustTrollin
Arpeggio
Second-base
bitards



It's really sad, until a few months ago I had a policy of no ignore list, trolls were generally annoying but they each had their moments.

But now it's just constant shitposts

Wow, thanks! There is no way for me to import the list automatically, but I'll use it as a reference and ignore when I see them. And I will start right now to weed out the most current. Thanks again!  

[gentlemand]

Wow, thanks! There is no way for me to import the list automatically, but I'll use it as a reference and ignore when I see them. And I will start right now to weed out the most current. Thanks again!  

It's all a personal preference though. You might find some of those posters to be people who touch you deeply. The likelihood is not, but who knows?. My ignore list is considerably larger than that but I'm getting old now and wish to use my limited time left reading opinions that actually count for something.

[indiemax]

(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)

I believe you 

[macsga]

@Norway:
You can use mine as well; or compare them, as reference. I think I have all the sockpuppets inside.

Hfertig
Wandererfromthenorth
mmitech
ShroomsKit
fonzie
luckygenough56
JohnPercent
sporket
FatherBob
Cassandra_PR
Silverspoon
NotLambchop
Ask Ken About Love
BlindMayorBitcorn
mrkavasaki
YourMother
Dump3er
William Henry Gates
Son0fLamb
Jammalan the Prophet
Warren Buffert
NotHatinJustTrollin
Wandererfromabroad
bitards
ChildPr0nzUsers
JihadCoinz
sAt0sHiFanClub
fuckoffstolfi
Hellomoon
Errydayrally
MightAsWellIgnore
AnotherAccount?
NewbieJailIsBadMmkay?
trelelel
EVOLUTION_A*D*M*I*N
SilenceOfTheLamb
BullTardLogic
Boooooooooring
btcponzieeg
bitcointoda0
ButVentureCapitaaaaaaal
IDKwhatisgoinon
not10kyet
AlmostThere881
BITIsHere!!!!

Random pic follows

[NUFCrichard]

...
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.

That's how fractional reserve banking works!
It's a great way to count the same money multiple times and make your economy look far bigger and stronger than it actually is!

Sooner or later bitcoin will "benefit" from this too.

[ChartBuddy]

Coin
Explanation

[Norway]

Wow, thanks! There is no way for me to import the list automatically, but I'll use it as a reference and ignore when I see them. And I will start right now to weed out the most current. Thanks again!  

It's all a personal preference though. You might find some of those posters to be people who touch you deeply. The likelihood is not, but who knows?. My ignore list is considerably larger than that but I'm getting old now and wish to use my limited time left reading opinions that actually count for something.

I agree. And I'm probably older than you, he he. But I just cleaned up. Ignored the obvious from the list, left everyone I give a chance. And boy, so many comments are ignored!
It is time to clean up, but only trolls, not bears/bulls/stupid people. I'm from Norway, where trolls come from. I know one when I see one. (Most of the time. They have humanoid features....)

[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.

That's how fractional reserve banking works!
It's a great way to count the same money multiple times and make your economy look far bigger and stronger than it actually is!

Sooner or later bitcoin will "benefit" from this too.

Nothing whatsoever to do with fractional reserve--substitute 5g of gold for $200, works exactly the same.

[sAt0sHiFanClub]

...
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.

That's how fractional reserve banking works!
It's a great way to count the same money multiple times and make your economy look far bigger and stronger than it actually is!

Sooner or later bitcoin will "benefit" from this too.

Of course, "Potentially" should have been emphasized. So it goes. But the point I'm making is that bitcoins value is a function of its share of the market. Even if that is expressed in overall volume, not actual value. But with QE, who knows what actual value is anyway.

[tarmi]

I'm not sharing my ignore list, but I will sell it to the highest bidder.

0.5 btc min increment.

starts @ 1 btc.

[macsga]

I'm not sharing my ignore list, but I will sell it to the highest bidder.

0.5 btc min increment.

starts @ 1 btc.

I'd pay 1BTC for NLC's ignore list. Yours is not so fancy as his
Oh wait. I forgot! I got him on ignore!

[tarmi]

also, this story about feds stealing bitcoins shows the weakness of bitcoin.

yes, bitcoin is secure and everything, but what use of no-middle-man transactions when there is high probability that the other side will fuck you, because irreversibility.

if you cant trust a government agent nor a drug dealer...why use it at all?

escrow is too much of a hassle. 

[empowering]

also, this story about feds stealing bitcoins shows the weakness of bitcoin.

yes, bitcoin is secure and everything, but what use of no-middle-man transactions when there is high probability that the other side will fuck you, because irreversibility.

if you cant trust a government agent nor a drug dealer...why use it at all?

geniouz