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

[StraightAArdvark]

Bitcoin isn't tangible

a question of viewpoint

http://www.runtogold.com/2012/11/why-bitcoin-is-tangible-digging-into-the-guts-of-bitcoin/

'The etymology of tangibility shows that in the late 14th century it was used as a “tangible thing, something perceived or presented to the senses”.'

Someone should tell this intilecshual about common/technical/contextual usage, and why it often different from the word's origin. See "intrinsic value" in phil. vs. "intrinsic value" in econ.

@Asrael999: Get back to me about permanence & temporality after Bitcoin has been around for a meaningful length of time.
As it is, 7 years is laughably short, even when compared to the worst of fiat currencies.

Fiat money is not meant to be a good long-term store of value, by design. It's meant to facilitate frictionless commerce. Normal, IRL people do not keep their wealth in their mattress, because that's how you get poor. No more than they use banks of capacitors for long-term electricity storage. The fact that caps will leak down over time doesn't make them worse than batteries, it's a different thing.
Why is this so difficult to explain?

[Assmaster2000]

How is it they got human females?

http://www.coindesk.com/ethereum-co-founder-dao/

[HammaSan]

Anyone know what's going to bitcoin is increasing price this way?

https://www.youtube.com/watch?v=RDrfE9I8_hs

ROFL, man, amazing answer

[Fatman3001]

How is it they got human females?

http://www.coindesk.com/ethereum-co-founder-dao/

it's a mystery

[Assmaster2000]

"A Steam user who goes by the name ‘Eliot the Cougar’ contacted CCN on Friday after he was no longer able to buy Steam products with bitcoin. Eliot the Cougar noted he was able to buy games on April 28 and May 14, but the option is no longer available. He said he contacted the company’s support group, but after two days he has not received any response about the matter."
https://www.cryptocoinsnews.com/gaming-giant-steam-disables-bitcoin-in-russia/
 Where to begin...   

[JimboToronto]

Good morning Bitcoinland.

Still trying to digest the move up past $580 I see.



Couple more days of generally sideways before the next leg up, or do our Chinese friends speed things up?

[Spaceman_Spiff]

Segwit RC soon to be deployed -

https://github.com/bitcoin/bitcoin/pull/8149

Get ready for a price boost when Segwit comes out of RC unscathed and miners start accepting it bring to an end one chapter of this drama and sending bitcoin in the right direction for scaling.

Thanks for the update

[yefi]

i can't imagine dragons being so superstitious. On the other hand a ton of coins on finex for sale till $600 it'll take some volume to push through

Someone's certainly stacking up some coins there. Not sure if this is a tactic to suppress price for a breakout, or if it's genuine.

[savetherainforest]

Good morning Bitcoinland.

Still trying to digest the move up past $580 I see.



Couple more days of generally sideways before the next leg up, or do our Chinese friends speed things up?

600+ is happening in a few hours or tomorrow ... But till then this sh!t happens ...

https://youtu.be/IEcd_Ecntro?t=1m41s

[JimboToronto]

Price still creeping up slowly, trolls need to try harder

 

[becoin]

Bitcoin isn't tangible, forget stone. Just a bunch of bleeps and bloops, 1s and 0s, memory/gate states in a bunch of Chinese 'puter gear: it's literally *nothing*.

Do you prefer American confetti paper?

Sure. Use that worthless government scrip every day.

Sure. Bitcoin is not for everyone. If you're ignorant about bitcoin you'd better not use it.

[Dajackal]

But it's not China. Its gotta be other factors like bitcoin gaining more media coverage as of lately, The worlds woes about all global currencies. The USD may soon fall of the top spot as a safe currency and maybe Bitcoin can be the replacement.

[Assmaster2000]

Price still creeping up slowly, trolls need to try harder

 

Euphoria erupts as bitcoin struggles to reach 50% of its all-time high

@Dajackal: what media coverage? are you talking about Britain's worst child molester crowdfunding his child rape spree with bitcoins??

[Syke]

Forget the all-time high. That was faked by Mt. Gox and willybot.

[JayJuanGee]

Good morning Bitcoinland.

Still trying to digest the move up past $580 I see.



Couple more days of generally sideways before the next leg up, or do our Chinese friends speed things up?

There seems to be a lot of decent upwards BTC price pressures at the moment, and really I am gathering the whole dynamics, regarding to how the price is rising slowly and relatively on mediocre volume to be significantly bullish (and not manipulation).

 Surely, some bearwhales can come into this scene at any time to attempt to drive BTC prices down 10% or more, if they can get their hands on a sufficient number of coins for such attempt.  But in the end, the evidence of market performance seems to be adding up to bearwhales running out of coins and ongoing upwards price pressures, and in essence bearwhales may have to go into debt in order to continue to attempt to keep the price flat or even to attempt to push it down.

Hahahahahaha..   accordingly, maybe you are correct, Jimbo, that we are going to experience some sideways, but to me, there seems to be a bit too much tension in the air towards moving us up passed $600 sooner rather than later, which is also beginning to seem as inevitable... even though it hasn't happened, "yet."  

Also, since this upwards movement seems to be going better than anticipated, we may have enough legs to get into the upper $700s before a correction... and there may even be enough momentum to get us significantly into the $800s, and many of us recognize what that means........... BBBBBBBBAAAAAAAAAMMMMMMMM!!!!!!

So, we will see how it plays out.. nothing is ever certain, but currently, the whole situation seems to be coming along real nice.. almost text book nice... with all the baloney negative bitcoin propaganda and distractions towards some vapor coins such as ETH supporting the deadbitcoin theories, and considerably strong BTC fundamentals with ongoing developments including seg wit and the halvening of new supply.... oh my oh my....   by the time the news gets out that bitcoin is a buy, buy, buy, prices may well be in the $900s...

Peeeeee        Pare       yourselves...... folks....  

[Assmaster2000]

Forget the all-time high. That was faked by Mt. Gox and willybot.

K, so this one will be remembered as The Great China Pump.

Years from now, you'll be telling me to forget this one too?

[JayJuanGee]

Forget the all-time high. That was faked by Mt. Gox and willybot.

Are you saying that we are not getting to another ATH above $1,200 and we should shoot for more modest numbers, such as $585?

 Or are you saying something else, such as this is the real deal, this time?

[JimboToronto]

Surely, some bearwhales can come into this scene at any time to attempt to drive BTC prices down 10% or more, if they can get their hands on a sufficient number of coins for such attempt.  But in the end, the evidence of market performance seems to be adding up to bearwhales running out of coins and ongoing upwards price pressures, and in essence bearwhales may have to go into debt in order to continue to attempt to keep the price flat or even to attempt to push it down.

It seems that when volume decreases, the price tends to creep slowly upward. Even multi-thousand dumps don't hold the price down for long.

As for the bearwhales having to go into debt, they probably are rich enough just to buy coins to dump at a loss, just to protect interests elsewhere if they view Bitcoin as a threat to them.

[dumbfbrankings]

Segwit RC soon to be deployed -

https://github.com/bitcoin/bitcoin/pull/8149

Get ready for a price boost when Segwit comes out of RC unscathed and miners start accepting it bring to an end one chapter of this drama and sending bitcoin in the right direction for scaling.

Thanks for the update

He purposefully ignored forgot a critical component of the mining pool vote to change Bitcoin's operation:



https://www.reddit.com/user/Jihan_Bitmain

Segwit will not be active on the network until Core releases binaries for the 2017 HF.

[Torque]

http://www.bloomberg.com/news/articles/2016-06-06/central-bankers-told-they-should-be-sprinting-toward-blockchain

So... with so many better experts/proponents of Blockchain and Bitcoin, then how the hell did this guy, Adam Ludwin, get an audience with Janet Yellen herself?

Isn't Chain just a small time bitcoin startup?