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

[ChartBuddy]

Coin



Explanation

[TERA]

Shorted

[JimboToronto]

Good morning Bitcoinland.

Still going east at $440. Calm before the storm?

[Richy_T]

(sorry, saw "The Force Awakens" last night)

how did you like it?

I thought it was definitely good and in the spirit of the original 3. I did feel it largely did it by reusing the same formula though. It was a bit light-weight but the next ones could be interesting.

I kinda wanted to see it in imax but the only one I could find in range was only doing imax 3d so I just went local.

[sAt0sHiFanClub]

The definition of the Oxford dictionnary is Marxist

I'm sorry, but the "Stupidest thing I read on the internet today" award goes to you.   

[sAt0sHiFanClub]

(sorry, saw "The Force Awakens" last night)

how did you like it?

I thought it was definitely good and in the spirit of the original 3. I did feel it largely did it by reusing the same formula though. It was a bit light-weight but the next ones could be interesting.

I kinda wanted to see it in imax but the only one I could find in range was only doing imax 3d so I just went local.

Those final scenes are breathtaking on Imax.

[ErisDiscordia]

(sorry, saw "The Force Awakens" last night)

how did you like it?

I thought it was definitely good and in the spirit of the original 3. I did feel it largely did it by reusing the same formula though. It was a bit light-weight but the next ones could be interesting.

I kinda wanted to see it in imax but the only one I could find in range was only doing imax 3d so I just went local.

I feel so weird finding myself as the only one who thinks it was even worse than the prequels...

[adamstgBit]

(sorry, saw "The Force Awakens" last night)

how did you like it?

I thought it was definitely good and in the spirit of the original 3. I did feel it largely did it by reusing the same formula though. It was a bit light-weight but the next ones could be interesting.

I kinda wanted to see it in imax but the only one I could find in range was only doing imax 3d so I just went local.

I feel so weird finding myself as the only one who thinks it was even worse than the prequels...

cant be that bad

isn't it darker?

[adamstgBit]

Hello everyone Up against the wall, motherfuckers!
Your money or your cocks!


...hmm, clearly haven't thought this one through as thoroughly as I thought I did...

hello!

how are you?

did you see the new star wars movie 

[sAt0sHiFanClub]

100m transactions coming up and we still dont need bigger blocks....

[ErisDiscordia]

(sorry, saw "The Force Awakens" last night)

how did you like it?

I thought it was definitely good and in the spirit of the original 3. I did feel it largely did it by reusing the same formula though. It was a bit light-weight but the next ones could be interesting.

I kinda wanted to see it in imax but the only one I could find in range was only doing imax 3d so I just went local.

I feel so weird finding myself as the only one who thinks it was even worse than the prequels...

cant be that bad

isn't it darker?

I won't do any spoilers but let's just say that the villain was literally laughable, the plot VERY unoriginal and felt like it was going absolutely nowhere, I didn't feel any sense of involvement, motivations for characters seemed bogus, the new characters seemed shallow and some scenes just made me go "wtf really?"...there is possibility of redemption imo only and only if later movies reveal some convincing reasons why all of this was so - which I doubt.

[Richy_T]

Those final scenes are breathtaking on Imax.

I may still go. I'm just not a big fan of the 3D. I was also in danger of getting spoilered though I have to say, it would not have been that devastating to me, personally.

[Richy_T]

I feel so weird finding myself as the only one who thinks it was even worse than the prequels...

Well, I have to disagree with you for now then. But we watched the originals last week at home and will probably watch the prequels in the coming week or two so it will be interesting to compare.

Do bear in mind that I am making some allowances for the fact that when I saw the originals, I was in single digits age-wise.

[Divitiae miserae]

There is no evidence per se.

You just need to understand that nobody has the same information, it's a fact of life and whatever amount of centralisation you introduce in the production system will not change this fact. The best way to handle this is to allow information to circulate freely across the economy and the best way do to that is to let the price system convey them (it doesn't mean every body will have the same information, but it means it's the best way to distribute information). You can read the seminal paper The Use Of Knowledge in Society, written by Hayek if you want a more formal explanation.

Regarding externalities, you can read The Theory of the Firm, written by Coase. This paper explains that the more property rights are enforced the more tend to diminish the so called externalities (ie. externalities are no the consequence of the functionning of a market, but the consequences of a lack of thereof).

One could burp rather than uttering an unsubstantiated claim and get the same result.
"Nobody has the same information". That's right: this is the definition of asymmetric information. The solution to this issue is hard to envisage, not to mention to implement, and this is the fundamental reason why the much sought-after free-market "equilibrium" is a chimaera whose proponents, unbeknownst to them, effectively adopt an economic scheme in which, at the end of any process, there's a benevolent dictator who evens out any ruggedness (of which the concept of "ceteris paribus", "all else being equal" is often a pernicious symptom).

Emissions, present in any economic activity, are an example of negative externalities and they can be addressed pricing them. Not doing so - thereby introducing a terrible mismatch in the resources valuation - is one of the failures of the "free market".

Nowadays in most countries the service sector make up more than the half of the GDP, so you mean that more than half  of the world production is not real "production".

It's best to talk about economics by using the meaning of words which pertains to this discipline.

I only gave you the correct definition which seven-year-old children already master.
Would you say to "produce" a service? Of course services add to the gross domestic product, "product" in the monetary sense. Nevertheless, services are acts, performances.

The vocabulary doesn't bite, my friend.

[ChartBuddy]

Coin



Explanation

[JayJuanGee]

I feel so weird finding myself as the only one who thinks it was even worse than the prequels...

Well, I have to disagree with you for now then. But we watched the originals last week at home and will probably watch the prequels in the coming week or two so it will be interesting to compare.

Do bear in mind that I am making some allowances for the fact that when I saw the originals, I was in single digits age-wise.

hahahahahaha

Now you are double digits or triple digits?  age wise?

[BldSwtTrs]

I only gave you the correct definition which seven-year-old children already master.

When you use the same thinking process than a seven years old, you know it's time to question yourself.

"Nobody has the same information". That's right: this is the definition of asymmetric information. The solution to this issue is hard to envisage, not to mention to implement, and this is the fundamental reason why the much sought-after free-market "equilibrium" is a chimaera whose proponents, unbeknownst to them, effectively adopt an economic scheme in which, at the end of any process, there's a benevolent dictator who evens out any ruggedness (of which the concept of "ceteris paribus", "all else being equal" is often a pernicious symptom).

You should have read what is written after the quoted sentence.

Emissions, present in any economic activity, are an example of negative externalities and they can be addressed pricing them. Not doing so - thereby introducing a terrible mismatch in the resources valuation - is one of the failures of the "free market".

You cannot price something without the market. Without market, there is no price.

The only way to price negative externalities is to use market mechanisms by enforcing property rights.

[billyjoeallen]

Think of traders as central bankers who only get paid when they do their job well and pay a penalty to the market they serve when they don't.

[ErisDiscordia]

I feel so weird finding myself as the only one who thinks it was even worse than the prequels...

Well, I have to disagree with you for now then. But we watched the originals last week at home and will probably watch the prequels in the coming week or two so it will be interesting to compare.

Do bear in mind that I am making some allowances for the fact that when I saw the originals, I was in single digits age-wise.

I did the full star wars marathon with some friends a week or so before Episode 7 came out and I get why the prequels get so much hate. To me even with all the shortcomings in acting, dialogue and plot it had a feel of wholeness to it - I mean Lucas did plan all 6 of them as one story arc and it shows. The story makes sense. The one thing I could never stomach though was the abruptness with which Anakin changed allegiance, but even that had a solid build-up of his frustration and distrust.

Ep. 7 just felt hollow in that regard. I leave the door open to change my mind after rewatching, some time passes and/or some more movies come out.

btw single digits, lol.

EDIT: completely off-topic but we seem to have some upward movement, good luck to TERA I guess.

[JayJuanGee]

Shorted

good luck with that short.


You know I find it a bit curious that some posters will assert that they took some BTC position without really providing too many specifics.

Shorted could mean a whole hell-a-va lot depending on the totality of a person's holdings (whether BTC or other holdings), and I recall that in the past, you Tera, have disclosed that from time to time you have been utilizing leveraged trading (or is it called "margin" trading) on Bitfinex.  In any event, no matter where or how you employ such shorting, there are a lot of ways to carry out "shorting."

Personally, I do get a sense that we could experience some short-term downward price momentum because of relatively low trade volume in the past several days... like as if we may be being set up for a downward push in prices, but on the other hand there could be a set up for an upward push in BTC prices.

In my current thinking, even as there seems to be a little bit of an upward push to $444, is that in the short term - a 60% chance that we be going down from here and 40% that we be going up from here.  In other words, I am approximating the proportions of my betting according to my view of probabilities (not just one or another because it is not that clear to me, at the moment).