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

[Erdogan]

The Greek referendum question makes (almost) no sense

http://www.bbc.co.uk/news/world-europe-33311422

I can translate that to modern greek:

After the government has loaned and wasted 100000 euro per person on socialistic common good, and at the same time destroyed the organic value creation capacity of greece, and now that nobody really want to lend more money, do you want the government to continue to do the same thing indefinitely with non-existing money?

[empowering]

Check it out. Featuring our very own Jorge Stolfi:

http://motherboard.vice.com/read/bitcoin-is-unsustainable

Bitcoin can currently handle up to 360,000 transactions per day given current limitations built into the technology, according to Jorge Stolfi, a computer science professor from Campinas University in Brazil, so there’s some headroom left before things bog down.

It would be possible to bring down the average power cost of each transaction by modifying the underlying Bitcoin protocol, but that’s no easy feat. The Bitcoin community is currently debating a big change that would mean the network could theoretically handle about 7.2 million transactions a day on a comparable level of electricity consumption, according to Stolfi. That would require a majority of the people mining Bitcoin to agree to the change, however.

pffffffffffftttttt

Jorge is stepping out on us hey.

Thought he had been a bit on the quiet side of recent....  now we know why..

SHUNNNN!!!

SHUNNNN!!!

only kidding

That might be my favourite website. Now I must fawn on him like a god

Surely this is your favourite website? or are you stepping out on us too? 

[AlexGR]

11 million greeks hit market buy with a measly 500$ and we get >32,000$ in <2 weeks.

>32,000$ in <2 years.

>32,000$ in <2 weeks. 

Right now I can't even spend 2$ with my credit card on ebay. Transactions are being rejected.

With banks closed etc, wires are not being processed. So outgoing money (Greece=>abroad) to buy btcs is out of the question for Greeks. The pump will not come from there.

This rise should not be about whether Greeks buy BTCs, but that Greece is a further example, after Cyprus, that people need to have control of their money and not be based on a centralized, government controlled system, that can confiscate their money (probable bail-in might be on the cards after the referendum, given the ECB threats), or render their money useless (digital euros right now are useless in Greece, compared to cash), or disallow them from transacting globally.

[empowering]

Capital controls is capital controls after all.

That one BTC atm machine in Athens jus ain't gonna cut it.

[Greendragon]

Meanwhile in Greece...

[ChartBuddy]

Coin
Explanation

[empowering]

Regardless of the Greek situation.....

Watch out for problems from some of the other southern European countries in the next few months.  (As they are almost in as much shit as Greece)

Especially if there is an actual Grexit.

[BlindMayorBitcorn]

Meanwhile in Greece...
[imgbloodyhorror[/img]

This is not cool

[Greendragon]

Would be pain in the ass when those burning police officers need to buy some anti fire cream with only 20 bucks/day

[empowering]

Meanwhile in Greece...

Are these actually recent images , as in from today?

[marcus_of_augustus]

Check it out. Featuring our very own Jorge Stolfi:

http://motherboard.vice.com/read/bitcoin-is-unsustainable

Bitcoin can currently handle up to 360,000 transactions per day given current limitations built into the technology, according to Jorge Stolfi, a computer science professor from Campinas University in Brazil, so there’s some headroom left before things bog down.

It would be possible to bring down the average power cost of each transaction by modifying the underlying Bitcoin protocol, but that’s no easy feat. The Bitcoin community is currently debating a big change that would mean the network could theoretically handle about 7.2 million transactions a day on a comparable level of electricity consumption, according to Stolfi. That would require a majority of the people mining Bitcoin to agree to the change, however.

The Trolfi cancer is metastasising.

[BlindMayorBitcorn]

Meanwhile in Greece...

Are these actually recent images , as in from today?

No.

http://www.theblaze.com/wp-content/uploads/2011/02/Greece-crisis.jpg

[empowering]

Check it out. Featuring our very own Jorge Stolfi:

http://motherboard.vice.com/read/bitcoin-is-unsustainable

Bitcoin can currently handle up to 360,000 transactions per day given current limitations built into the technology, according to Jorge Stolfi, a computer science professor from Campinas University in Brazil, so there’s some headroom left before things bog down.

It would be possible to bring down the average power cost of each transaction by modifying the underlying Bitcoin protocol, but that’s no easy feat. The Bitcoin community is currently debating a big change that would mean the network could theoretically handle about 7.2 million transactions a day on a comparable level of electricity consumption, according to Stolfi. That would require a majority of the people mining Bitcoin to agree to the change, however.

The Trolfi cancer is metastasising.

They cherry picked Jorge as it suited them.... I wonder if they found him on here  

[empowering]

Meanwhile in Greece...

Are these actually recent images , as in from today?

No.

http://www.theblaze.com/wp-content/uploads/2011/02/Greece-crisis.jpg

Good.

[BlindMayorBitcorn]

Meanwhile in Greece...

Are these actually recent images , as in from today?

No.

http://www.theblaze.com/wp-content/uploads/2011/02/Greece-crisis.jpg

Good.

History repeats itself

https://en.wikipedia.org/wiki/Greek_government-debt_crisis

[empowering]

Meanwhile in Greece...

Are these actually recent images , as in from today?

No.

http://www.theblaze.com/wp-content/uploads/2011/02/Greece-crisis.jpg

Good.

History repeats itself

https://en.wikipedia.org/wiki/Greek_government-debt_crisis

Yeah I have no doubt we could see a repeat of the same scenes (that is why I asked)

[tarmi]

soon bitcoiners are going to realize that going bankrupt for a country is no big deal.

I would be worried to see zee germans going bankrupt. that never ends well.

[empowering]

soon bitcoiners are going to realize that going bankrupt for a country is no big deal.

I would be worried to see zee germans going bankrupt. that never ends well.

Bitcoiners are the only ones concerned about Greece?  really? someone should tell everyone else then.

[Mrpumperitis]

im not a religous person but i did find this a very interesting read  ,
 
sept 13th 2015 Many are concerned about this date because we have seen giant stock market crashes on the last day of the previous two Shemitah cycles.

On September 17th, 2001 (which was Elul 29 on the Biblical calendar), we witnessed the greatest one day stock market crash in U.S. history up until that time.  The Dow plummeted 684 points, and it was a record that held for exactly seven years until the end of the next Shemitah cycle.

On September 29th, 2008 (which was also Elul 29 on the Biblical calendar), the Dow fell by an astounding 777 points, which still today remains the greatest one day stock market crash of all time.

Now we are approaching the end of another Shemitah year.  So will the stock market crash on September 13th, 2015?  Well, no, because that day is a Sunday.  So I guarantee that the stock market will not crash on that particular day.  But as Jonathan Cahn has pointed out in his book on the Shemitah, sometimes stock market crashes happen just before the end of the Shemitah year and sometimes they happen within just a few weeks after the end of the Shemitah.  So we are not just looking at one particular date.

http://theeconomiccollapseblog.com/archives/shemitah-biblical-pattern-indicates-financial-collapse-may-coming-2015

[SheHadMANHands]

Seems Bitfinex just ate that ~700 btc dump, no sweat.