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

[marcus_of_augustus]

all commodities are down, except of course...... bitcoin. ... that says a lot in itself. when the dollar finally gives up the ghost, and it will eventually, then value of bitcoin will collapse in purchasing power as compared with the new currency while metals will soar:

"The economy is collapsing.  This is evident from the ongoing crash in commodities, especially the price of oil and natural gas.  The consumer is tapped out." Retail Sales: It’s Going To Be A Slaughter - http://investmentresearchdynamics.com/retail-sales-its-going-to-be-a-slaughter/

bitcoin is not tied to the US$ in any way whatsoever ... that's just borked thinking right there.

take a look at all the other global trade of btc in europe, south america, eastern europe, asia ... when the currency markets collapse and banks lock up a la greece people will use whatever money they can

[aztecminer]

all commodities are down, except of course...... bitcoin. ... that says a lot in itself. when the dollar finally gives up the ghost, and it will eventually, then value of bitcoin will collapse in purchasing power as compared with the new currency while metals will soar:

"The economy is collapsing.  This is evident from the ongoing crash in commodities, especially the price of oil and natural gas.  The consumer is tapped out." Retail Sales: It’s Going To Be A Slaughter - http://investmentresearchdynamics.com/retail-sales-its-going-to-be-a-slaughter/

bitcoin is not tied to the US$ in any way whatsoever ... that's just borked thinking right there.

take a look at all the other global trade of btc in europe, south america, eastern europe, asia ... when the currency markets collapse and banks lock up a la greece people will use whatever money they can

i disagree... bitcoin is valued in fiat currency. when fiat currency collapses what will bitcoin be valued in ?? 1 bitcoin will equal what ??

greece was still able to value their bitcoins in usd and euros.

[aztecminer]

i'm not talking about consumers... lol. china, the govy, is buying up the gold.

I'm sorry, I thought you were talking about metals in general.

i mostly am talking about gold and silver.

[dloghwak]

all commodities are down, except of course...... bitcoin. ... that says a lot in itself. when the dollar finally gives up the ghost, and it will eventually, then value of bitcoin will collapse in purchasing power as compared with the new currency while metals will soar:

"The economy is collapsing.  This is evident from the ongoing crash in commodities, especially the price of oil and natural gas.  The consumer is tapped out." Retail Sales: It’s Going To Be A Slaughter - http://investmentresearchdynamics.com/retail-sales-its-going-to-be-a-slaughter/

bitcoin is not tied to the US$ in any way whatsoever ... that's just borked thinking right there.

take a look at all the other global trade of btc in europe, south america, eastern europe, asia ... when the currency markets collapse and banks lock up a la greece people will use whatever money they can

i disagree... bitcoin is valued in fiat currency. when fiat currency collapses what will bitcoin be valued in ?? 1 bitcoin will equal what ??

greece was still able to value their bitcoins in usd and euros. that will not be the case in the currency collapses.

So you assume that all fiat currencies collapse at the same time? I doubt it.
Fiat currencies collapsed in the past and they got replaced by - surprise - fiat currencies.

[chesthing]

all commodities are down, except of course...... bitcoin. ... that says a lot in itself. when the dollar finally gives up the ghost, and it will eventually, then value of bitcoin will collapse in purchasing power as compared with the new currency while metals will soar:

"The economy is collapsing.  This is evident from the ongoing crash in commodities, especially the price of oil and natural gas.  The consumer is tapped out." Retail Sales: It’s Going To Be A Slaughter - http://investmentresearchdynamics.com/retail-sales-its-going-to-be-a-slaughter/

bitcoin is not tied to the US$ in any way whatsoever ... that's just borked thinking right there.

take a look at all the other global trade of btc in europe, south america, eastern europe, asia ... when the currency markets collapse and banks lock up a la greece people will use whatever money they can

i disagree... bitcoin is valued in fiat currency. when fiat currency collapses what will bitcoin be valued in ?? 1 bitcoin will equal what ??

greece was still able to value their bitcoins in usd and euros.

It will continue to be valued in fiat, just at different price levels. Or are you really crazy enough to believe usd and euro could go to zero?!

[oda.krell]

It will continue to be valued in fiat, just at different price levels. Or are you really crazy enough to believe usd and euro could go to zero?!

... he asked rhetorically, despite being here long enough to know that a key demographic of this forum believes exactly that.

[jbreher]

5:15AM in Hong Kong . . . shouldn't be long now.

..b-but everything you post below seems to indicate that we *should* be long.

[peonminer]

Shouldn't be long until the spike up, I should've specified. LOL I'll edit the post so as not to confuse people.

[JayJuanGee]

Monkey vision:  Drop towards 390 support intraday, rising trend to continue thereafter on a daily basis, and over the weekend.

You know this is wrong

Monkey needs some fucking glasses.   

[Alley]

220,000 transactions in last 24 hours.  To me this is the real indicator bitcoin is going mainstream.

[jbreher]

I believe that you have kind of answered your question in a couple of places by asserting that you don't really know if the points that you raised are issues are not.

Well, I don't think it answers any questions. Though I agree with what your point seems to be - that we should not automatically assume this is broken.

However, if one embraces (what I perceive to be) the key tenets of Bitcoin -- trustlessness and decentralization -- then we _all_ have a duty to perform due diligence before accepting even a minor change, let alone one that so radically alters the allocation of responsibility as this.

I guess I am just advocating some judicious scrutiny of which of the pied pipers you choose to follow. For it seems that some of the loudest such have not even as of yet read the entire score.

[JayJuanGee]

all commodities are down, except of course...... bitcoin. ... that says a lot in itself. when the dollar finally gives up the ghost, and it will eventually, then value of bitcoin will collapse in purchasing power as compared with the new currency while metals will soar:

"The economy is collapsing.  This is evident from the ongoing crash in commodities, especially the price of oil and natural gas.  The consumer is tapped out." Retail Sales: It’s Going To Be A Slaughter - http://investmentresearchdynamics.com/retail-sales-its-going-to-be-a-slaughter/

bitcoin is not tied to the US$ in any way whatsoever ... that's just borked thinking right there.

take a look at all the other global trade of btc in europe, south america, eastern europe, asia ... when the currency markets collapse and banks lock up a la greece people will use whatever money they can

i disagree... bitcoin is valued in fiat currency. when fiat currency collapses what will bitcoin be valued in ?? 1 bitcoin will equal what ??

greece was still able to value their bitcoins in usd and euros.

What kind of lame question is that?  Bitcoin is NOT pegged to anything.   

helrow?

 

Bitcoin is valued in whatever it is being traded against, doesn't matter what is the other asset, the trade value will float and will be determined at the time of the trade, if fiat collapses and it costs $1million to buy a loaf of bread, then perhaps bitcoin will be valued at $1million per 1 satoshi or something like that... .

Aztecminer, you seem smart enough to be able to extrapolate that various assets and/or currencies float in value against others and wouldn't really go completely to zero, unless there is completely no utility or value in the asset.

[chesthing]

If fiat does collapse to zero, I assure you the last thing on your mind will be bitcoin - it will be how the fuck am I going to survive this day?

[marcus_of_augustus]

all commodities are down, except of course...... bitcoin. ... that says a lot in itself. when the dollar finally gives up the ghost, and it will eventually, then value of bitcoin will collapse in purchasing power as compared with the new currency while metals will soar:

"The economy is collapsing.  This is evident from the ongoing crash in commodities, especially the price of oil and natural gas.  The consumer is tapped out." Retail Sales: It’s Going To Be A Slaughter - http://investmentresearchdynamics.com/retail-sales-its-going-to-be-a-slaughter/

bitcoin is not tied to the US$ in any way whatsoever ... that's just borked thinking right there.

take a look at all the other global trade of btc in europe, south america, eastern europe, asia ... when the currency markets collapse and banks lock up a la greece people will use whatever money they can

i disagree... bitcoin is valued in fiat currency. when fiat currency collapses what will bitcoin be valued in ?? 1 bitcoin will equal what ??

greece was still able to value their bitcoins in usd and euros.

i'm not sure you understand fundamentals of money and relative values at all ... so probably worthless trying to argue with this level of derp (or troll hard to tell).

[Fatman3001]

If fiat does collapse to zero, I assure you the last thing on your mind will be bitcoin - it will be how the fuck am I going to survive this day?

Don't you read this thread at all?

These guyz have fiber to their fallout shelters.

And guns. Lots of them.

[podyx]

If fiat does collapse to zero, I assure you the last thing on your mind will be bitcoin - it will be how the fuck am I going to survive this day?

If bitcoin has grown big enough by that time, then I bet other people will be quick to pick up on it aswell.

Of course we're talking a market capitalization a lot bigger then now in that case.

[JayJuanGee]

I believe that you have kind of answered your question in a couple of places by asserting that you don't really know if the points that you raised are issues are not.

Well, I don't think it answers any questions. Though I agree with what your point seems to be - that we should not automatically assume this is broken.

However, if one embraces (what I perceive to be) the key tenets of Bitcoin -- trustlessness and decentralization -- then we _all_ have a duty to perform due diligence before accepting even a minor change, let alone one that so radically alters the allocation of responsibility as this.

I guess I am just advocating some judicious scrutiny of which of the pied pipers you choose to follow. For it seems that some of the loudest such have not even as of yet read the entire score.

Well there are only so many hours in the day to research every and all aspects of life and how we may be materially affected by various changes and the conduct of others.  Certainly, there is a need for a variety of people to look into matters, rather than taking things at face value, and certainly I cannot fault you for any of your attempts to find flaws that may exist because if you were to uncover any significantly material flaws, then the whole bitcoin community could benefit from uncovering of such flaws, if they exist and were previously unknown.

[ChartBuddy]

Coin



Explanation

[chesthing]

Looks like it shrugged off $400 dump, up we go.

[ssmc2]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.