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

[QuestionAuthority]

Don't know anything about that Brock Pierce thing.

Realcoin it was called:  http://www.coindesk.com/brock-pierce-announces-dollar-backed-cryptocurrency-realcoin/

It has been rebranded as Tether.  Don't know anything else about it myself.

Speaking of which, no one finds it weird that the president of the Bitcoin Foundation is CEO of a competing altcoin?

Or that two Bitcoin Core developers (BTCDrak and Peter Todd) are CEO and CTO of Viacoin, another altcoin that aims to replace bitcoin?
 

That seems to be an odd negative side effect of open source development (I can totally think another system is better but contribute to this system for the experience.) The interesting thing is, no one can do anything about it.

[1715476941]

1715476941

[Elwar]

I am so conditioned to expect huge dumps after a small rise, that the lack of starts to feel uncomfortable.
The bears are too silent!

Same here, once it passed $250 I started looking at booking my Christmas flight home on CheapAir and ordered my winter jacket/gloves on Purse. Just couldn't bring myself to spend that when the price was hovering around $230 for so long.

Now that it's over $260 I'm like...gotta get home so I can book that flight before it goes back to $230.

[QuestionAuthority]

If the price climbs back to $500-$600 does anyone think people that previously purchased above $500 will be afraid to hold any longer for fear they will never get their money back? I'm not sure I'd be comfortable buying in at that price anymore unless I was going to immediately use it to make a purchase. It may be better for the overall economy if the price doesn't climb too much.

You could say that at any point. Are people that purchased above 260 previously afraid to hold any longer? Are they comfortable buying at this price?

Yeah, but they've waited so long for the price to go back up they might not want to wait any longer. I'm being optimistic. I think the climb up is going to continue this time. It just feels different now. I just hope the climb doesn't bring a wave of sell off from those people that have been waiting for a while to recoup.

[Proxiebuier]

Don't know anything about that Brock Pierce thing.

Realcoin it was called:  http://www.coindesk.com/brock-pierce-announces-dollar-backed-cryptocurrency-realcoin/

It has been rebranded as Tether.  Don't know anything else about it myself.

Speaking of which, no one finds it weird that the president of the Bitcoin Foundation is CEO of a competing altcoin?

Or that two Bitcoin Core developers (BTCDrak and Peter Todd) are CEO and CTO of Viacoin, another altcoin that aims to replace bitcoin?

 

im not sure any altcoin can compared and replace bitcoin
i know NMC give you "real rate" 1NMC = 1$, but people still trust bitcoin with the price tends to fluctuate
look NMC at her https://btc-e.com/exchange/nmc_btc

[Elwar]

Don't know anything about that Brock Pierce thing.

Realcoin it was called:  http://www.coindesk.com/brock-pierce-announces-dollar-backed-cryptocurrency-realcoin/

It has been rebranded as Tether.  Don't know anything else about it myself.

Speaking of which, no one finds it weird that the president of the Bitcoin Foundation is CEO of a competing altcoin?

Or that two Bitcoin Core developers (BTCDrak and Peter Todd) are CEO and CTO of Viacoin, another altcoin that aims to replace bitcoin?

 

im not sure any altcoin can compared and replace bitcoin
i know NMC give you "real rate" 1NMC = 1$, but people still trust bitcoin with the price tends to fluctuate
look NMC at her https://btc-e.com/exchange/nmc_btc

No, Namecoin gives you a .bit domain name, not $1.

[ChartBuddy]

Coin

Explanation

[noobtrader]

Seeing these images, couldn't someone make a profit out of the price difference? By arbitaging.

Arbitraging is profitable only if the price difference is greater than the tradeing fees.  That is one reason why the Chinese exchanges have such high volumes, and have very similar prices: one can do arbitrage even on tiny differences in price.

On the other hand, one does not need to actually move dollars or bitcoins instantaneously to do arbitrage between two exchanges.    To do arbitrage one should buy at A and sell at B when the price is lower at A, and do the reverse when the price is lower ar B.  If one has substantial BTC and dollar funds on both exchanges, one could alternate between these trades in such a way that the four accounts remain mostly balanced in the long run.  If they become unbalanced, one can transfer BTC and/or dollars to rebalance them, but those transfers can be slow.

Someone claimed that Bitcoin arbitragers may use Litecoin to transfer funds between exchanges, because of its faster confirmation time.

yes, but then you need to trust more than 1 exchange with your precious coin... 

[tomothy]

I believe you are referencing PPC/ NuBits? UIAB(upon information and belief) Nubits is pegged/ tied to each one being worth $1

Jorge:

Regarding Ceo/BTC/ALTCOIN, I do think it is a little disturbing.
Re; Todd, although he has his 'viacoin' it does not seem to have much action with it lately. It seem's most of todd's time is spent involved with bitcoin nowadays. This seemed to be the opposite during the heyday of pump/dump penny crypto boiler rooms... and he was distancing himself from btc...

I think it is safe to say that there are significant and competing visions for bitcoin and that most parties involved in the space have alternative motives.
At the same time I think if you view bitcoin as a snowball, it's starting rolling down the mountain, gaining more and more mass and speed.

I have a nagging suspicion that the block size debate has been nothing but a big distraction; a red herring meant simply to delay and inhibit bitcoin growth as long as possible.

More importantly though, I think the overstock news is very 'dangerous.'

"New York City-based securities trading hedge fund Clique Fund on Tuesday borrowed $10 million in stock using the Bitcoin blockchain, reported Wired.
The hedge fund used Overstock.com’s new, in-beta operation, TØ.com, to borrow shares in the 30 stocks that constitute the Dow Jones Industrial Average."

If you have read some of Byrne's comments regarding wall street, it looks like he is getting ready to eat their lunch. I think it would be interesting to see parties begin porting things like chaindb or t0.com to alternative blockchains, i.e. LTC / PPC or what have you. I think that is like the iceberg facing bitcoin.

It will be interesting to see how this all develops...

[BitofaN1]

Hmm.. No rocket launch gifs yet. I am disapoint.

[podyx]

Got the front seat on dis train

[mexxer-2]

Woop just broke 265 on bitfinex, BTC-E is last in the growth with price at only 262.2

[600watt]

[abercrombie]

are we rich yet??  

[!! pop]

Got the front seat on dis train

Scary place, come the [inevitable] crash.

[greenlion]

I believe you are referencing PPC/ NuBits? UIAB(upon information and belief) Nubits is pegged/ tied to each one being worth $1

No, Brock Pierce's company was originally RealCoin and renamed Tether, which was originally built on Mastercoin which was renamed Omni.

Their model is not to create an artificial peg like Nubits or Bitassets, they hold actual dollars custodially and issue tokens. Legendary internet moron Trace Meyer once tried to convince them (on his podcast) to hold physical cash in a vault instead of using banks to do this.

[kromtar]

sell as close as you can to 258.

 

[!! pop]

I believe you are referencing PPC/ NuBits? UIAB(upon information and belief) Nubits is pegged/ tied to each one being worth $1

No, Brock Pierce's company was originally RealCoin and renamed Tether, which was originally built on Mastercoin which was renamed Omni.

Their model is not to create an artificial peg like Nubits or Bitassets, they hold actual dollars custodially and issue tokens. Legendary internet moron Trace Meyer once tried to convince them (on his podcast) to hold physical cash in a vault instead of using banks to do this.

Kiddy-diddling Brock Pierce of The Mighty Ducks fame, is that the Brock Pierce we're talking about?

[noobtrader]

sell as close as you can to 258.

 

I know riiight ?

crossing 269 before dropping back to 266 at gemini LOL

sell as close as you can to 258.

target is 268, before it will retrace and rises further  

says the noobtrader.

[dloghwak]

next target 270 ccmf!

[noobtrader]

next target 270 ccmf!

270 is very low target  just 4 usd away, next target more likely above 300    maybe next week ?