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

[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.

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.

"Potentially" in the same sense as "weather in Duluth can potentially move BTC value."  Yeah, can't be ruled out, but the relationship is tenuous at best.

Re. "who knows what actual value [of USD] is anyway":  the dollar value is measured by the amount of goods that it buys.  For instance, a dollar can buy ~ twice as much BTC as it did at the start of this year.  Easy

[SilenceOfTheLamb]

...
geniouz

Not doing yourself any favors here, empowering.  Back on ignore you go.

Empowering!

I'm putting you on temporary ignore.  Softhearted as I am, I'll occasionally unignore you--to check if you've learned to behave yourself like a human being.  
Don't make this temporary ignore become permanent, empowering, there will be no more warnings.
You're this close

[ChartBuddy]

Coin
Explanation

[damiano]

Battle for 250 coming up

[NotHatinJustTrollin]

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.  

It took more than five years for bitcoiners to understand that middleman and trusted third parties are not evil and that they play an important role in consumer protection.



...Actually, no, forget I said anything. I take that back.
...













































































After five years they still don't get it.

[adamstgBit]

Battle for 250 coming up

249 . Resistance Is Futile

[ensjovis]

Pretty obvious the reason for the rise right now.

[adamstgBit]

Pretty obvious the reason for the rise right now.

what is it?

[inca]

lol @ the mini pump up to 248$

You mean 250?

[ensjovis]

Pretty obvious the reason for the rise right now.

what is it?

Federal agents stealing BTC is covered in mainstream media in the states.

[Dump3er]

...
geniouz

Not doing yourself any favors here, empowering.  Back on ignore you go.

Empowering!

I'm putting you on temporary ignore.  Softhearted as I am, I'll occasionally unignore you--to check if you've learned to behave yourself like a human being.  
Don't make this temporary ignore become permanent, empowering, there will be no more warnings.
You're this close

We also should share our ignore list, to lock out low level content spammers and being focused on quality posts. This could help you:

adamstgBit
macsga
gotmilk_
Odalv
bassclef
ChartBuddy
JimboToronto
rolling
aminorex
inca
okthen
Torque
aztecminer
JayJuanGee
calme
madmat
dakota neat
coinableS
LFC_Bitcoin
Fatman3001

[macsga]

Pretty obvious the reason for the rise right now.

what is it?

Nothing to see here. Just an ordinary Dead Cat Bounce...

[SilenceOfTheLamb]

There's your 250.  Happy now, Bitcoin crooks?  

http://s11.postimg.org/xyrmn9ber/c94d5ff9ca9b.jpg

Now back down you go.

[DutchTrades]

Looks like a double bottom is formed @$236

I think we could call this a pump if stamp passes $250 again.

[adamstgBit]

Pretty obvious the reason for the rise right now.

what is it?

Federal agents stealing BTC is covered in mainstream media in the states.

yes that is pretty good news

[Ask Ken About Love]

^Trusting mainstream meadia, as if those jackbooted thugs would really go after their own
They just want to stick those agents in jail next to Sherm, to get some dirt on the rest of "Bitcoin community."

[damiano]

Battle for 250 coming up

249 . Resistance Is Futile

not much of a fight going on here

[macsga]

Looks like a double bottom is formed @$236

I think we could call this a pump if stamp passes $250 again.

Next wall is @252. I don't think it will hold though. The bids are rising... Somebody knows something we don't?

[inca]

Looks like a double bottom is formed @$236

I think we could call this a pump if stamp passes $250 again.

Next wall is @252. I don't think it will hold though. The bids are rising... Somebody knows something we don't?

Almost certainly.

[hdbuck]

Looks like a double bottom is formed @$236

I think we could call this a pump if stamp passes $250 again.

Next wall is @252. I don't think it will hold though. The bids are rising... Somebody knows something we don't?

how about people know bitcoin isnt going anywhere short term?