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

[ChartBuddy]

Coin
Explanation

[rjclarke2000]

Still waiting for double digit, smell like broke 

Still one of my favourites^^

Ha ha

[rjclarke2000]

Come on $300. You really are taking your time.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[abercrombie]

are we rich yet??   
 

[Elwar]

Moscow Exchange stops trading on all markets

You guys in Russia should trade Bitcoin instead.

Ruble exchange hacked?

Is this the end of the Ruble?

[hdbuck]

Moscow Exchange stops trading on all markets

You guys in Russia should trade Bitcoin instead.

Ruble exchange hacked?

Is this the end of the Ruble?

Nothing to comment, already relaunched.

some ol reuters fud..

[kromtar]

Nothing to comment, already relaunched.

some ol reuters fud..

[ChartBuddy]

Coin
Explanation

[aztecminer]

fud bitcoin...  i dont need no bitcoins...... i going to the beach... better things to do then worry about bitcoin. #goals #priorities

[Torque]

Moscow Exchange stops trading on all markets

Mt Gox Bitstamp NYSE China, is that you?

[ChartBuddy]

Coin
Explanation

[spooderman]

hashtagging in here? really?

[billyjoeallen]

The dollar weakened, so assets denominated in dollars went up, all things else being equal.  

Fundamental issues as I see them:

1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)

This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce.  

It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty.  It's impossible to build a business model based on an unknown fee structure.  

[ChartBuddy]

Coin
Explanation

[ElectricMucus]

The dollar weakened, so assets denominated in dollars went up, all things else being equal. 

Fundamental issues as I see them:

1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)

This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce. 

It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty.  It's impossible to build a business model based on an unknown fee structure. 

0. Bitcoin supporters are so batshit insane that many folks simply don't want to be associated with them.

[Dump3er]

are we rich yet??   
 

I like your irony in both ways 

[Denker]

are we rich yet??   
 

If you are owning ten thousand coins I'm supposed to say yes.

[billyjoeallen]

The dollar weakened, so assets denominated in dollars went up, all things else being equal. 

Fundamental issues as I see them:

1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)

This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce. 

It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty.  It's impossible to build a business model based on an unknown fee structure. 

0. Bitcoin supporters are so batshit insane that many folks simply don't want to be associated with them.

That's not a valid reason at all. Economics is all about incentives. Given a strong enough incentive, racists will hire minorities, Sexists will hire women, Anti-semites will do business with Jews and Homophobes will provide goods and services to gays. History is littered with sane people lining up to be associated with whackjobs when they had an incentive to do so. 

" It's not personal, Sonny. It's strictly business." ~Michael Corleone