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

[PoolMinor]

It's time to buy.
we go up from here on out.

I can see it at the end of this hall.

[Fatman3001]

Any substantive discussion on scaling will have to wait until the Hong Kong portion of the show. https://twitter.com/jgarzik/status/642397611178217472

Looks like there's not gonna be any resolution this weekend. Another good reason to support XT.

[kromtar]

double digit... dead... doom... bitcoin will worth 0... yeah sure haha 

[bitebits]

"Zero cost"... Aside from the cost of nearly every major hodler of bitcoin dumping them instantaneously if the 21 mil cap is put in serious jeopardy.

I don't think however that the introduction of extra inflation into bitcoin -- say, 1% per year, beyond the block rewards -- would necessarily induce all holders to dump, and the price to crash.

We will see what happens after the block reward drops below <1% of the total supply. But that is 20 years from now (wiki), a bit of a non-issue at the moment:

1260000   7   0.78125000   20671875.00000000   164062.50000000   20835937.50000000   0.79365079%   99.21875011%

That is not "cost".  Even if bitcoins lose all their value, no resources or concrete assets will be destroyed.  The world will not become any poorer. Only, a few hundred thousand people the current bitcoin holders

True.

I still believe that bitcoin's price will go to zero in a few years

Zero what exactly? Dollars? Nah, there will always be a few rebels like yourself and me that put a certain value to Bitcoin. Not sure how you can keep stubbornly repeating this like a mantra, bitcoin != Bitcoin. Currently those rebels value a bitcoin at $240 a piece, quite awesome when you think about it.

[ChartBuddy]

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Explanation

[BayAreaCoins]

Down before up?

[Elwar]

Well, 1% of inflation per year would not destroy that argument; at most, it would delay the growth a little.  After all,  that growth of 1000% per year happened while the miners were creating an inflation of more than 10% per year.

By the time all of the 21 million are distributed it will be a world currency. The price will not rise from new users, it will hold its value.

Keynes need not be involved in the new world currency. He has done enough damage already.

[Norway]

Warmup before the scaling conference in 3 hours (Gavin Andresen vs Adam Back podcast):

http://www.bitcoin.kn/2015/09/adam-back-gavin-andresen-block-size-increase/?utm_campaign=dr-adam-back-and-gavin-andresen-discuss-a-block-size-increase&utm_medium=twitter&utm_source=twitter


Live video stream from the conference will be here in 3 hours:
https://scalingbitcoin.org/montreal2015/live

[ChartBuddy]

Coin
Explanation

[Trouble821]

coindesk's centralization scaling conference:












...

Is anyone here attending the conference, and is it like hdbuck's depiction of it? That had me rolling round on the floor in stitches of laughter. Are tickets for it really $1500? If they really cost that much then the scammers here would make more money organizing conferences than creating shitcoin IPOs.

[nioc]

Any substantive discussion on scaling will have to wait until the Hong Kong portion of the show. https://twitter.com/jgarzik/status/642397611178217472

Looks like there's not gonna be any resolution this weekend. Another good reason to support XT.

We already knew there would not be a resolution this weekend, only the possibility of a resolution at the next conference in Dec(?)

But have no doubt there will be lots from this conference to speculate about regarding the various possibilities of resolution.

I can hardly wait  

[ChartBuddy]

Coin
Explanation

[Fatman3001]

Any substantive discussion on scaling will have to wait until the Hong Kong portion of the show. https://twitter.com/jgarzik/status/642397611178217472

Looks like there's not gonna be any resolution this weekend. Another good reason to support XT.

We already knew there would not be a resolution this weekend, only the possibility of a resolution at the next conference in Dec(?)

But have no doubt there will be lots from this conference to speculate about regarding the various possibilities of resolution.

I can hardly wait  

I just want this debate to end. It's dumbing people down. It makes my brain go numb.

[gentlemand]

We already knew there would not be a resolution this weekend, only the possibility of a resolution at the next conference in Dec(?)

But have no doubt there will be lots from this conference to speculate about regarding the various possibilities of resolution.

I wonder why anyone needs a bleedin' conference to make a decision. Maybe superior beings can only reach consensus when they're wearing a name tag and lining up an innocent intern to nail after they've pwned their panel discussion.

[hdbuck]

We already knew there would not be a resolution this weekend, only the possibility of a resolution at the next conference in Dec(?)

But have no doubt there will be lots from this conference to speculate about regarding the various possibilities of resolution.

I wonder why anyone needs a bleedin' decision to make a conference. Maybe innocent interns can only reach consensus when they're wearing a name tag and lining up superior beings to nail after they've pwned their panel discussion.

ftfy



reminds me of teh climate change confs..

[ChartBuddy]

Coin
Explanation

[jl2012]

I still believe that bitcon's price will go to zero in a few years; but almost certainly not by that route...

Would you put money where your mouth is?

[Norway]

T minus 5 minutes!

https://scalingbitcoin.org/montreal2015/live

[ChartBuddy]

Coin
Explanation

[ElectricMucus]

I still believe that bitcon's price will go to zero in a few years; but almost certainly not by that route...

Would you put money where your mouth is?

By keeping his money (instead "investing" it in BTCeanies or Bitcoin), that's exactly what he's doing.
So now you know

I think he meant wiring the money to a bucketshop and "shorting" Bitcoin, only to be told SFYL
But you're right.