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

[RenegadeMan]

Good morning Bitcoinland.

I see we had a little action last night but we seem to be coming back to $230 pretty consistently lately.

Must be driving the daytraders crazy. Long-term holders yawn.

What is actually our (long term hodling cult, inc.) target? 10 000? 100 000?? 1 000 000???

Putting a dollar value on it is difficult. I hope to never sell any bitcoins for fiat currency but rather spend them for goods and services. Who knows what the dollar will be worth?

That said, I'd hope to see at least $10k within a few years, in today's dollars. If the dollar tanks, multiply accordingly.

It's virtually impossible to forecast this teasing investment called bitcoin! But one thing everyone needs to remember, just when it looks like the thing's going nowhere fast and "nothing is happening" it could take off. When BTC first jumped into the $ hundreds it didn't stay there too long before dropping back into double digits again. But then meandered along for six months between ~$70 and ~$130 seemingly like the ATH had been reached and "those glory days are now over". Well, I believe we're in the same situation with the next massive pump not too far away. Considering the diabolical situation with fiat across the world and the Fed having backed themselves into such an inextricable corner, it could come at any moment. The trick will be to have enough patience that you don't miss it.

How silly would you have felt selling all your BTC in early Oct 2013 to then see it go through that miraculous rise? The next rise is likely to make that previous ATH look tame so be ready for it.

[ChartBuddy]

Coin
Explanation

[Norway]

Nobody here sees the potential of 21 Inc's platform? What Google did for making money with websites (generate revenue with ads), 21 Inc may do for making money with web-services (generate revenue with pay-per-use). I.e. 21 Inc might be the next Google. Guess what that will do for Bitcoin...  

I don't see the potential. You don't need special chips or computers to do micro payments. As a charity node, a standard Raspberry Pi 2 is cheaper. And the mining part of it is really lame. To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled, or there is a dimension to this that is still a secret.

Based on the story of 21 Inc so far my guess is your line...

To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled....

...is the reality of the situation. I think these guys are riding a bitcoin VC feeding frenzy but lack clear strategy or understanding.

If you haven't already heard this podcast from 13th Sep, have a listen to Chris Derose and Joshua Unseth's take on what 21 Inc are doing; I think it's very very funny. Go to time 15:05 in episode #16 of the Counterparty weekly update for a hilarious take on the whole thing.

https://letstalkbitcoin.com/blog/post/xcp-weekly-update-16-joel-and-thomas-from-swarm

Ha ha ha, what a great rant! Thanks for the link RenegadeMan!

[brg444]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

[Norway]

brg444 is obviously on the payroll of an ad agency 

[RenegadeMan]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

Nah, I think he had his tongue-firmly-planted-in-cheek while he typed this and was rolling his eyes....

[BlindMayorBitcorn]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

What was the second option again..?

[Norway]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

Nah, I think he had his tongue-firmly-planted-in-cheek while he typed this and was rolling his eyes....

Are you sure?
https://www.reddit.com/user/brg444

[RenegadeMan]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

Nah, I think he had his tongue-firmly-planted-in-cheek while he typed this and was rolling his eyes....

Are you sure?
https://www.reddit.com/user/brg444

No.

Maybe I had MY tongue-firmly-planted-in-cheek and was rolling MY his eyes when I made that comment.

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

Nobody here sees the potential of 21 Inc's platform? What Google did for making money with websites (generate revenue with ads), 21 Inc may do for making money with web-services (generate revenue with pay-per-use). I.e. 21 Inc might be the next Google. Guess what that will do for Bitcoin...  

I don't see the potential. You don't need special chips or computers to do micro payments. As a charity node, a standard Raspberry Pi 2 is cheaper. And the mining part of it is really lame. To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled, or there is a dimension to this that is still a secret.

Indeed, this HW doesn't do anything that isn't already possible. Just like the first webserver didn't do anything that wasn't already possible (publish some text over the Internet -- you could also just download files instead). But it did make it very easy.

Google turned website into something that you can make money with on a per-use basis. The revenue model of 21 Inc may turn webservices also into something you can make money with on a per-use basis. It may take some time to convince developers to start creating services using their platform/API, but nothing similar exists, yet.

A webserver (Apache) is software, not hardware. I made a micro payment solution for web content via sms payments in 2001. Micropayments is not a new revenue model. Bitcoin can make this happen in a big way. ChangeTip is leading the way right now.

I first wanted to write an elaborate answer. Then I saw this blog.

https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

I have nothing more to add.

Dudes, this thing keeps looping back on itself. It can't mean devices pay each other on the blockchain. It would be a blizzard of dust transactions that would require GB sized blocks. They have their own micropayments server for that. But if they have their own micropayments server, why use bitcoin at all??

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

So anyone check out Circle Pay yet?  I updated my app and added a debit card.

It's free banking, so what's the catch?  You can now convert your wallet to fiat with one click. They make it way TOO easy to convert your wallet with one click. If you accidentally click the button, you sell ALL your bitcoins.  If I had millions and wanted to buy at these low prices, I might be tempted to pull such a stunt, except you know, that whole honesty thing. 

But seriously, free banking.  not sooooper cheap. free.  This is their response to Coinbase just outright paying people to get wallets through their referral program.  It's early internet business model:

1. burn money to gain market share
2. Sell out or IPO before you even have to monetize customer base.

[ChartBuddy]

Coin
Explanation

[aztecminer]

So anyone check out Circle Pay yet?  I updated my app and added a debit card.

It's free banking, so what's the catch?  You can now convert your wallet to fiat with one click. They make it way TOO easy to convert your wallet with one click. If you accidentally click the button, you sell ALL your bitcoins.  If I had millions and wanted to buy at these low prices, I might be tempted to pull such a stunt, except you know, that whole honesty thing. 

But seriously, free banking.  not sooooper cheap. free.  This is their response to Coinbase just outright paying people to get wallets through their referral program.  It's early internet business model:

1. burn money to gain market share
2. Sell out or IPO before you even have to monetize customer base.

it sounds like a great place to sell bitcoins fast. i cant think of anything else to do there. it almost sounds like an elaborate scheme to trick everyone out of their bitcoins .

[ChartBuddy]

Coin
Explanation

[JayJuanGee]

So anyone check out Circle Pay yet?  I updated my app and added a debit card.

It's free banking, so what's the catch?  You can now convert your wallet to fiat with one click. They make it way TOO easy to convert your wallet with one click. If you accidentally click the button, you sell ALL your bitcoins.  If I had millions and wanted to buy at these low prices, I might be tempted to pull such a stunt, except you know, that whole honesty thing. 

But seriously, free banking.  not sooooper cheap. free.  This is their response to Coinbase just outright paying people to get wallets through their referral program.  It's early internet business model:

1. burn money to gain market share
2. Sell out or IPO before you even have to monetize customer base.

it sounds like a great place to sell bitcoins fast. i cant think of anything else to do there. it almost sounds like an elaborate scheme to trick everyone out of their bitcoins .

I know someone personally who got tricked by this crap... WTF... People sometimes are NOT very smart when it comes to these kinds of things.

The person that I know, opened up Circle, and got the message to convert to dollars, and clicked "yes."  She thought that she was making the settings in dollars, but she did NOT realize that she sold her total holdings in BTC (luckily only 7 BTC).  I said, "WTF you doing?" and she said that she did NOT know.  I said that there has been a little bit of price movement, but really you should attempt to convert it all back ASAP - because the whole reason that you have the account is to have some of your money in BTC... Accordingly, she converted back and only lost about .03BTC total with the mistake.

I'm sure that there are others, too.  WTF?

[Franciem]

Look interesting to keep hard hold
only weakhand will be sell at this price 

come on guys we can hit 250$ in next day

[ChartBuddy]

Coin
Explanation

[JayJuanGee]

Another interesting development could affect bitcoin dynamics in the coming weeks and months - and that is looming again, a possible US Government shutdown.... 

Many put the odds of a USGOV shutdown at less than 50%; however, if such a US Gov shutdown were to occur (which is really NOT an improbable scenario), there could be some impacts on BTC prices....  in the short and medium term... and I would suggest likely that such an occurrence would cause BTC prices to move in an upwards direction.