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

[makeacake]

when people start basing their arguments on "all the in the universe"    time to hit the bottle

what's next?  in all of the universes?

good point. Pig production is limited by the amount of matter in a FINITE universe.

I think this argument has gone off the rails. I think it might be better served by using "inelastic supply" rather than "scarcity".

It has, awhile ago. I initially simply meant to point out that scarcity != artificial scarcity. Trivial stuff, not sure why people raise such a ruckus

[xyzzy099]

Now lets discuss the properties of spherical chickens in a vacuum!

Dyson or Hoover?

Well, I think a more fundamental question is "bag or bag-less"?  

[Richy_T]

It has, awhile ago. I initially simply meant to point out that scarcity != artificial scarcity. Trivial stuff, not sure why people raise such a ruckus

It depends. They can be equivalent in some circumstances. The artificial scarcity introduced by copyright allowed companies to charge very high prices for music and movies.

[billyjoeallen]

when people start basing their arguments on "all the in the universe"    time to hit the bottle

what's next?  in all of the universes?

good point. Pig production is limited by the amount of matter in a FINITE universe.

I think this argument has gone off the rails. I think it might be better served by using "inelastic supply" rather than "scarcity".

(Though there's a 37% chance that muddies things even further)

Right. It's important to ask "how elastic is inelastic?" It's not binary.  An economist always has to ask "as compared to what?"  Elastic supply relative to demand with demand being variable.

[makeacake]

It has, awhile ago. I initially simply meant to point out that scarcity != artificial scarcity. Trivial stuff, not sure why people raise such a ruckus

It depends. They can be equivalent in some circumstances. The artificial scarcity introduced by copyright allowed companies to charge very high prices for music and movies.

Sure. Also allowed Ty Warner to charge more for Beanie Babies, and Bitcoiners to charge more for their 'coins' (much to the same end effect )
What I'm trying to say is scarcity doesn't need to be artificial, so yeah, using != was sloppy and downright wrong.

[GGALINff]

GBTC premium to underlying is up to approx 37% at last trade price

[adamstgBit]

once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.

>500 is no longer a sell signal

[LFC_Bitcoin]

once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.

>500 is no longer a sell signal

32,000 USD bitcoin's in the run up to the halving in 2020.

[billyjoeallen]

It has, awhile ago. I initially simply meant to point out that scarcity != artificial scarcity. Trivial stuff, not sure why people raise such a ruckus

It depends. They can be equivalent in some circumstances. The artificial scarcity introduced by copyright allowed companies to charge very high prices for music and movies.

You seem to be missing the point of the whole discussion. Artificial scarcity results in artificially high prices given a constant demand. Artificial scarcity can reduce demand if the higher prices make an alternative relatively more attractive.

[billyjoeallen]

once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.

>500 is no longer a sell signal

are full blocks, higher xaction fees and six hour confirmations a sell signal?

[makeacake]

Fly me to the moon...
http://i.dailymail.co.uk/i/pix/2014/04/17/article-0-1D2973BA00000578-693_634x416.jpg

Bovine NASA off to a great start;
Fart Gas Flight experiments show promise.

[Richy_T]

You seem to be missing the point of the whole discussion. Artificial scarcity results in artificially high prices given a constant demand. Artificial scarcity can reduce demand if the higher prices make an alternative relatively more attractive.

To be honest, I've forgotten how the discussion started amongst images of a universe filled with pigs.

[adamstgBit]

once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.

>500 is no longer a sell signal

are full blocks, higher xaction fees and six hour confirmations a sell signal?

no the implementation of the solution to these self imposed limitation and subsequent market reaction (32,000$), is the sell signal.

[adamstgBit]

bitcoin is a hot potato, if you want to win you HODL till you hands are on fire, then you HODL some more, at one point your hands have disintegrated and you drop the potato.

[ssmc2]

You seem to be missing the point of the whole discussion. Artificial scarcity results in artificially high prices given a constant demand. Artificial scarcity can reduce demand if the higher prices make an alternative relatively more attractive.

To be honest, I've forgotten how the discussion started amongst images of a universe filled with pigs.

I just want some bacon.

[ChartBuddy]

Coin

Explanation

[GGALINff]

this bacon potato talk has got me hungry

if you are in the states,  use delivery.com  15% off code  TAKEBREAK in the next 5 hours to get your fix

[billyjoeallen]

once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.

>500 is no longer a sell signal

are full blocks, higher xaction fees and six hour confirmations a sell signal?

no the implementation of the solution to these self imposed limitation and subsequent market reaction (32,000$), is the sell signal.

the implementation is the buy signal and we haven't gotten it yet...if ever.

Imagine if confirmation time slows to a crawl, kind of like the delay in fiat withdrawals at Gox.  With the BTC exit blocked instead of the fiat exit, we get a gox bubble in reverse.

It's just too big of a risk to take. I already bought a lottery ticket this week. Waiting for a miracle to happen is not a sound investment strategy.

[DieJohnny]

once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.

>500 is no longer a sell signal

are full blocks, higher xaction fees and six hour confirmations a sell signal?

no the implementation of the solution to these self imposed limitation and subsequent market reaction (32,000$), is the sell signal.

the implementation is the buy signal and we haven't gotten it yet...if ever.

Imagine if confirmation time slows to a crawl, kind of like the delay in fiat withdrawals at Gox.  With the BTC exit blocked instead of the fiat exit, we get a gox bubble in reverse.

It's just too big of a risk to take. I already bought a lottery ticket this week. Waiting for a miracle to happen is not a sound investment strategy.

I think you are inventing fear and using it to either slay your own dreams or those of others. WE can imagine disasters all day the bottom line is I can pay a large mining fee of a whole dollar and my transfer moves instantly....

what is your real point

[adamstgBit]

once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.

>500 is no longer a sell signal

are full blocks, higher xaction fees and six hour confirmations a sell signal?

no the implementation of the solution to these self imposed limitation and subsequent market reaction (32,000$), is the sell signal.

the implementation is the buy signal and we haven't gotten it yet...if ever.

Imagine if confirmation time slows to a crawl, kind of like the delay in fiat withdrawals at Gox.  With the BTC exit blocked instead of the fiat exit, we get a gox bubble in reverse.

It's just too big of a risk to take. I already bought a lottery ticket this week. Waiting for a miracle to happen is not a sound investment strategy.

i know it's confusing but it's true, when the hot potato gets wrapped in bacon and then infused with blue cheese, its relative hottest becomes 100 times hotter then the regular potato we have going around today.