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

[tabnloz]

best thing about this rally is that those currencies in emerging markets that have devalued so heavily in the last year are now getting a little back in btc price.

[Mota]

Bitcoin so far has been adopted as a currency only by criminals and scammers.  Adoption for legitimate commerce is tiny, and largely to limited to users who want to push bitcoin for other reasons than its qualities as a payment method.  Actual use of bitcoin, in practice, still requires trusting third parties -- like Blockstream, Coinbase, Bitstamp, SatoshiLabs, etc..

(BTW, 10¹⁵ is "exa-", not "hexa-".)

Why was I so sure that this "argument" would be posted today....  You realize that the currency with the most illegal usages like money laundering, drug money, weapons etc. is the US-Dollar? Heck, if you count in the money from black labour (which is also illegal, iirc), pretty much every currency is used far more for illegal activities and scams.

Btw, your pseudo argument was/is also used for the internet... "99% of the internet traffic and 90% of websites are porn sites" In retrospect, this is actually good news!

 

[BlackSpidy]

bitcoin offers unalienable security.

1/2 hexahash decentralized P2P network remember?

Bitcoin so far has been adopted as a currency only by criminals and scammers. Adoption for legitimate commerce is tiny, and largely to limited to users who want to push bitcoin for other reasons than its qualities as a payment method.  Actual use of bitcoin, in practice, still requires trusting third parties -- like Blockstream, Coinbase, Bitstamp, SatoshiLabs, etc..

[CITATION NEEDED]

Also, I dont care if people buy drugs with bitcoin. Lots of governments have needlessly made a multibillion dollar industry illegal, it's only a testament to how useful bitcoin is that the drug salespeople have gone to it as their currency of choice. Bitcoin is a powerful monetary tool (and a currency itself), and just like any monetary tool (bank accounts, checks, bank transfers, remittances, cash), criminals are going to use it. I don't care that a "dirty" part of society was the first to adopt that technology.

Bitcoin sure is something else, and the next 10 years will be a testament to its success.

[bButtercup]

Bitcoin so far has been adopted as a currency only by criminals and scammers.  Adoption for legitimate commerce is tiny, and largely to limited to users who want to push bitcoin for other reasons than its qualities as a payment method.  Actual use of bitcoin, in practice, still requires trusting third parties -- like Blockstream, Coinbase, Bitstamp, SatoshiLabs, etc..

(BTW, 10¹⁵ is "exa-", not "hexa-".)

Why was I so sure that this "argument" would be posted today....  You realize that the currency with the most illegal usages like money laundering, drug money, weapons etc. is the US-Dollar? Heck, if you count in the money from black labour (which is also illegal, iirc), pretty much every currency is used far more for illegal activities and scams.

Btw, your pseudo argument was/is also used for the internet... "99% of the internet traffic and 90% of websites are porn sites" In retrospect, this is actually good news!

But Mota, the USD is also used to build roads and buy baby formula, while BTC? Well.. other than drugs, CP, and kidnapping/ransomware ransoms? Have I missed anything?Oh yeah, gambling. Have I mentioned CP? I guess I did...

...
Also, I dont care if people buy drugs with bitcoin...

Of course you don't, you're an account farmer, the pettiest of petty criminals. The sort of a guy who'd do anything for a nickel.

[adamstgBit]

so fucking close, keep going little bears.

[Ayle56]

Is there a $50 difference between the Bitstamp price and Huobi's? I'm not great at maths but I worked out the CNY to USD conversion at 6.31805 CNY per USD, and that's what I got. I know its been $20 to $30 higher in China all week, but $50 is excessive.

edit/

Huobi's beginning to go down now, but there's still a big price difference.

[Chalkbot]

Damn, price in China a whopping $55 higher than US. Something's gonna give soon.

[rjclarke2000]

Where will this correction stop? $450? Thoughts below please.


A correction is needed. Up up up is fun but madness

[Fatman3001]

Could the loosening of China's 1 child policy explain why there's such a shortage of fucks on chinese exchanges? They seem completely unwilling to give any.

[bButtercup]

Damn, price in China a whopping $55 higher than US. Something's gonna give soon.

I remember when Gox price started floating up... But this is not like that at all.

Could the loosening of China's 1 child policy explain why there's such a shortage of fucks on chinese exchanges? They seem completely unwilling to give any.

Free to breed a generation of greater fools bitcoiners to sell BTC to!

[petahashminer]

bitfinex and bitstamp bears trying to reduce the price, but china is not following. china is still above 500$ , and as it seems, it will resist more and more.. china is the leading market, not finex or bitstamp.

[SnokkomBTC]

Damn, price in China a whopping $55 higher than US. Something's gonna give soon.

I remember when Gox price started floating up... But this is not like that at all.

2013 it was ~100$ i guess

[adamstgBit]

Damn, price in China a whopping $55 higher than US. Something's gonna give soon.

I remember when Gox price started floating up... But this is not like that at all.

ya but china knows how to run a proper bucket shop, everything will be fine.

[Sitarow]

[The KGB]

Epic Battle on Huobi, really amazing to watch.. seems like everybody throwing whatever they have into the fire to keep the engine of this train going.

Also we are breaking out of triangle soon on huobi

we will then see which direction we are going to take.

[infofront]

Could the loosening of China's 1 child policy explain why there's such a shortage of fucks on chinese exchanges? They seem completely unwilling to give any.

LOL

[adamstgBit]

about the 50$ difference with CNY and USD

chinese exchange are where traders from all over the world trade, they can't withdraw the money but they don't care they're there to trade with 0% trading fees.

but today, traders actually do want to "see the money" so they BUY with there CNY and then send the BTC over to stamps to sell for USD which they will withdraw.

[JimboToronto]

so fucking close, keep going little bears.

C'mon little bears, you can do it.

Make Adam a happy man before the big bad dragon wakes up and burns you to a crisp.



 

[Sitarow]

Damn, price in China a whopping $55 higher than US. Something's gonna give soon.

I remember when Gox price started floating up... But this is not like that at all.

ya but china knows how to run a proper bucket shop, everything will be fine.

Do you think it has anything to do with this?



Self fulfilling prophesy if people follow the pattern?

[adamstgBit]

Go little bears GOOOO!