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

[ChartBuddy]

Coin
Explanation

[Norway]

Economists have know for 500 years that a currency must have some inflation, otherwise people will hoard it and it will not be available for use as a currency.  

During the past 500 years, there were long periods of effectively zero inflation where economies boomed. In the industrial revolution in Britain, for example.

Also, I don't think there was such a thing as an economist 500 years ago.

Gold and silver coins kept the price for a pint steady as a rock for hundreds of years.

So steady
Until 1900: gold/silver standard. 1900-1933: gold standard.

We were talking about inflation during the industrial revolution.

Check how small the inflation was during this extreme growth period in western financial history.

Enter the years 1750 and 1900 (150 years) on this page:
http://www.bankofengland.co.uk/education/Pages/resources/inflationtools/calculator/flash/default.aspx

EDIT: It's a smaller inflation in 150 years than from 1993 to 2014!

EDIT2: The average annual inflation rate in UK from 1265 to 1900 was 0.35% Source: http://www.measuringworth.com/inflation/

[ChartBuddy]

Coin
Explanation

[Hopalong]

Economists have know for 500 years that a currency must have some inflation, otherwise people will hoard it and it will not be available for use as a currency.  

During the past 500 years, there were long periods of effectively zero inflation where economies boomed. In the industrial revolution in Britain, for example.

Also, I don't think there was such a thing as an economist 500 years ago.

Gold and silver coins kept the price for a pint steady as a rock for hundreds of years.

Gold and silver has been the most trusted currency for a long time and it is inflationary. There will always be a supply of new gold and silver. Unlike fiat there is nobody that can manipulate the inflation of gold and silver.

A crypto could have a built in inflation that simulated gold and silver.

[findftp]

Economists have know for 500 years that a currency must have some inflation, otherwise people will hoard it and it will not be available for use as a currency.  

During the past 500 years, there were long periods of effectively zero inflation where economies boomed. In the industrial revolution in Britain, for example.

Also, I don't think there was such a thing as an economist 500 years ago.

Gold and silver coins kept the price for a pint steady as a rock for hundreds of years.

Gold and silver has been the most trusted currency for a long time and it is inflationary. There will always be a supply of new gold and silver. Unlike fiat there is nobody that can manipulate the inflation of gold and silver.

A crypto could have a built in inflation that simulated gold and silver.

You know what that crypto is called? Bitcoin.

Besides, nobody knows the complete above and below amount of gold. There are some numbers, but you can't trust them if you ask me.
What if you found a 10000 kg pure gold meteorite in your back yard. You wouldn't tell anybody if you're smart.

That's one of the reasons why bitcoin is superior to gold. We know the exact current and future supply, no secrets.

[ChartBuddy]

Coin
Explanation

[uxgpf]

Blocksize limit is already putting large Bitcoin projects on hold and stifling adoption:
https://www.youtube.com/watch?v=TgjrS-BPWDQ&feature=youtu.be&t=12667

[TReano]

[Mayer Amschel]

So you guys see this crashing again? 

[Fatman3001]

So you guys see this crashing again? 

Don't know what you're talking about.

I'm looking for moon gifs.

[everaja]

Going to Hit 210$ this time..Just Hold on and watch the ditches...
I think it will be a good time to buy a 10x Bitcoins.

[ChartBuddy]

Coin
Explanation

[LFC_Bitcoin]

Going to Hit 210$ this time..Just Hold on and watch the ditches...
I think it will be a good time to buy a 10x Bitcoins.

Not sure if we'll hit 210 but I fully agree that now is a great time to start buying more whilst the price is so low. Technically if you were to buy 10 now at these prices you should double your money as a result of the halving next year.

Buy & HODL people.

[Fatman3001]

Going to Hit 210$ this time..Just Hold on and watch the ditches...
I think it will be a good time to buy a 10x Bitcoins.

Not sure if we'll hit 210 but I fully agree that now is a great time to start buying more whilst the price is so low. Technically if you were to buy 10 now at these prices you should double your money as a result of the halving next year.

Buy & HODL people.

Technically that's a gross oversimplification of the math and processes involved. It will tighten supply, which could send the price up tenfold. Unless it disrupts the mining industry in such a way that it sends BTC plummeting.

[gentlemand]

Technically that's a gross oversimplification of the math and processes involved. It will tighten supply, which could send the price up tenfold. Unless it disrupts the mining industry in such a way that it sends BTC plummeting.

A tightened supply is only a factor if there's increasing demand. Right now there are more than enough existing coins for everyone and mined coins are only a fraction of daily volume. Maybe there'll be a psychosomatic boost but I hope people aren't pinning too much on it.

[TReano]

Going to Hit 210$ this time..Just Hold on and watch the ditches...
I think it will be a good time to buy a 10x Bitcoins.

Not sure if we'll hit 210 but I fully agree that now is a great time to start buying more whilst the price is so low. Technically if you were to buy 10 now at these prices you should double your money as a result of the halving next year.

Buy & HODL people.

lol, yea bitcoin is on sale for almost 2 years now. Cheap better buy now.

....

[Elwar]

Technically that's a gross oversimplification of the math and processes involved. It will tighten supply, which could send the price up tenfold. Unless it disrupts the mining industry in such a way that it sends BTC plummeting.

A tightened supply is only a factor if there's increasing demand. Right now there are more than enough existing coins for everyone and mined coins are only a fraction of daily volume. Maybe there'll be a psychosomatic boost but I hope people aren't pinning too much on it.

Even just keeping current demand will ensure a rise in price when there is a smaller supply.

[Fatman3001]

Technically that's a gross oversimplification of the math and processes involved. It will tighten supply, which could send the price up tenfold. Unless it disrupts the mining industry in such a way that it sends BTC plummeting.

A tightened supply is only a factor if there's increasing demand. Right now there are more than enough existing coins for everyone and mined coins are only a fraction of daily volume. Maybe there'll be a psychosomatic boost but I hope people aren't pinning too much on it.

They are. At least some.

But if we can't get more adoption it won't matter much. And that's hard to do when everyone seems to agree that Bitcoin is broken or should be permanently crippled.

[Fatman3001]

Technically that's a gross oversimplification of the math and processes involved. It will tighten supply, which could send the price up tenfold. Unless it disrupts the mining industry in such a way that it sends BTC plummeting.

A tightened supply is only a factor if there's increasing demand. Right now there are more than enough existing coins for everyone and mined coins are only a fraction of daily volume. Maybe there'll be a psychosomatic boost but I hope people aren't pinning too much on it.

Even just keeping current demand will ensure a rise in price when there is a smaller supply.

But the potential variance in demand is much larger than the assured decrease in supply. And that assured decrease is only to the network itself. We don't know how much miners are selling now and how much they will sell after the halving.

[pleaseexplainagain]

Technically that's a gross oversimplification of the math and processes involved. It will tighten supply, which could send the price up tenfold. Unless it disrupts the mining industry in such a way that it sends BTC plummeting.

A tightened supply is only a factor if there's increasing demand. Right now there are more than enough existing coins for everyone and mined coins are only a fraction of daily volume. Maybe there'll be a psychosomatic boost but I hope people aren't pinning too much on it.

Even just keeping current demand will ensure a rise in price when there is a smaller supply.

since january the price has been in the $200-$300 range and it is changing according to manipulation ie a few players altering the market so I do not think we have "normal' demand as in other sectors that might alter a little to some small change in the rate if of supply (like the halving).
so we will never know ie I expect after the halving for the price to still be in the $200-$300 range if the few players wish for it to be so.
so its not about supply but demand (or rather the lack of it). we need a demand test like the amount of new money that COIN might attract to get a feel where the price might go. If the new comers do not buy in at a $200-$300 level then  it is an indication it is too high to get demand