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

[JimboToronto]

Good morning Bitcoinland.

We seem to be going sideways again after last week's little rise from $570 to almost $630.... currently $628 on Bitcoinaverage.

Time for a weekend bump up?

[hulla]

the end of cash, I wonder what the impact will be

Former IMF Economist Declares War On Cash

http://www.bloomberg.com/news/articles/2016-09-07/harvard-economist-kenneth-rogoff-is-trying-to-kill-cash


https://www.amazon.com/gp/product/0691172137/ref=as_li_qf_sp_asin_il_tl?ie=UTF8&tag=valueinves08c-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=0691172137&linkId=fa77b3a10cfaf4b1a335ed767c9a5b07

I am bullish


looking forward to the "Utility Settlement Coin"

I don't think that is the correct link. Amazon has the story for us?

Former IMF Economist Declares War On Cash
http://www.bloomberg.com/news/articles/2016-09-07/harvard-economist-kenneth-rogoff-is-trying-to-kill-cash


is this the replacement
Utility Settlement Coin
http://www.ft.com/cms/s/0/1a962c16-6952-11e6-ae5b-a7cc5dd5a28c.html

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough and the price of bitcoin will string up in a slap of fingers. My question is that is this news direct from true source?

[European Central Bank]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough

hardly. if they decide they don't like bitcoin then all they gotta do is block any fiatcoin transactions that are related to it. then people are suddenly gonna realize that cash was kinda cool after all. their control over your money will be nearly complete.

[podyx]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough and the price of bitcoin will string up in a slap of fingers. My question is that is this news direct from true source?

If the big banks release a successful coin, bitcoin's market value would probably crash pretty hard.

[becoin]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough and the price of bitcoin will string up in a slap of fingers. My question is that is this news direct from true source?

If the big banks release a successful coin, bitcoin's market value would probably crash pretty hard.

Really?
Did Internet crashed when Compuserve released their successful Intranet?

[European Central Bank]

If the big banks release a successful coin, bitcoin's market value would probably crash pretty hard.

uh, why?

a big bank coin would be exactly like the fiat you got now except they can totally destroy your life with one click of a button and track every single transaction you ever make.

[podyx]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough and the price of bitcoin will string up in a slap of fingers. My question is that is this news direct from true source?

img width=350]http://cdn.niketalk.com/b/b8/b8c89a50_Kanye-West-How.jpeg[/img]

If the big banks release a successful coin, bitcoin's market value would probably crash pretty hard.

Really?
Did Internet crashed when Compuserve released their successful Intranet?

Well, was it successful? Sounds like that statement was sarcastic.

Anyway, even if it was, I think bitcoin is different because of money that has to be invested and the average is extremely non risk-aversive. Look at this for example: https://www.youtube.com/watch?v=vBX-KulgJ1o

I'm definitely still very bullish on btc but if a centralized coin from banks catches on in a big way, I'll probably be quick to diversify.

[podyx]

If the big banks release a successful coin, bitcoin's market value would probably crash pretty hard.

uh, why?

a big bank coin would be exactly like the fiat you got now except they can totally destroy your life with one click of a button and track every single transaction you ever make.

Precisely.

[JayJuanGee]

Localbitcoins b& in russian federation...

http://www.coinfox.info/news/6399-localbitcoins-blocked-in-russia

 

The decision took place before Russian authorities softened their rhetoric towards the cryptocurrencies.
So it seems either a very bad timing decision or a, even worse, a very stupid move.

It is blocked in germany for almost a year or even longer now
Wayne interessierts.

That's right. And it doesn't stop us from trading peer to peer.
The people here know how circumvent that stupid ban.
The russians will find ways too. I have no doubt about that.

I had not even realized that there was a ban of localbitcoins in Germany, so I googled it, and it appears that the ban began in about December 2014.  Wow!   I had considered a lot of the western european countries as a bit more receptive to bitcoin, yet I understand that there is all kinds of contradictions when it comes to the actions of various governments (in other words, hard to keep track of what everyone is doing even when consistently attempting to follow relevant bitcoin news developments).

[JayJuanGee]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough

hardly. if they decide they don't like bitcoin then all they gotta do is block any fiatcoin transactions that are related to it. then people are suddenly gonna realize that cash was kinda cool after all. their control over your money will be nearly complete.

Yeah right...

You seem to be living in a little fantasy world in your attempt to spread FUD and to suggest something that currently in the very low probabilities of happening.   

"all they gotta do"  - right.

If all they gotta do were true, then they would have successfully nipped this baby in the bud a long time ago.... So it is going to take a lot to attempt to implement various kinds of "all they gotta do" across various jurisdictions, if the goal were to use those kinds of mechanisms to attempt to demoralize the bitcoin community and attempt to depress the price... not likely.. helrow?   

[JayJuanGee]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough and the price of bitcoin will string up in a slap of fingers. My question is that is this news direct from true source?

If the big banks release a successful coin, bitcoin's market value would probably crash pretty hard.

Have you thought about your own comment?

What is a successful coin?

A centralized one or a decentralized one?  Makes little sense.  

A large aspect of the value of bitcoin remains it's decentralized component that is backed up by proof of work, and no one is going to attempt to recreate something that costs so much money in terms of establishing the extended proof of work network, so in that sense, any semblance of a system that is competing to bitcoin is going to have to be centralized in some regard, which defeats the whole purpose and makes it something other than bitcoin.  

Yeah, sure there may be some attempts at competitors and some attempts to assert that they are the same as bitcoin and attempts to steal some of bitcoin's market cap, but in the end, none of them are going to be sufficiently decentralized in order to really compete.....

So, yeah, I will believe it when I see it, and in the meantime, seems unrealistic to be concerned and/.or fearful about something that is very unlikely to occur... and unlikely to really provide anywhere near the same level of decentralized immutability that is provided by our lilie fiend, bitcoin.  



Edit:  Added on below:

[edited out]

[edited out]

I'm definitely still very bullish on btc but if a centralized coin from banks catches on in a big way, I'll probably be quick to diversify.

Nothing wrong with diversifying at various points in time when such diversification is prudent and practical.  Actually, diversification should be included in any long term investment strategy. 

At this point, concerning your pie in the sky hypothesis of some kind of "bank backed" crypto meaningfully competing with bitcoin, there is nothing even close to justify diversify into (except maybe using 1 or 2 % of your crypto investment into various crypto "competitors" that you may consider to have some pump value or even some decent fundamentals that could justify their increasing in market cap).

[mymenace]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough and the price of bitcoin will string up in a slap of fingers. My question is that is this news direct from true source?

If the big banks release a successful coin, bitcoin's market value would probably crash pretty hard.

hypothetical outcome?

the coin itself would be used to make all transactions regarding fiat on the blockchain

the coin would be the base value whereas the fiat on top say USD (now masked as 0.01 UTS) may be a fraction of the coins value

example hypothetically - $1 USD is 0.01 of a utility settlement coin, this is used to process your USD payment transaction

success or not it will just be the way


BTC impact -  if there is a more informed public about "bank cryptocurrency" then its a matter of your choice between bank crypto or btc


whereas now it is FIAT or crypto

[mymenace]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough and the price of bitcoin will string up in a slap of fingers. My question is that is this news direct from true source?

If the big banks release a successful coin, bitcoin's market value would probably crash pretty hard.

hypothetical outcome?

the coin itself would be used to make all transactions regarding fiat on the blockchain

the coin would be the base value whereas the fiat on top say USD (now masked as 0.01 UTS) may be a fraction of the coins value

example hypothetically - $1 USD is 0.01 of a utility settlement coin, this is used to process your USD payment transaction

success or not it will just be the way


BTC impact -  if there is a more informed public about "bank cryptocurrency" then its a matter of your choice between bank crypto or btc


whereas now it is FIAT or crypto

UTS - Utility Settlement Coin

    One Coin to rule them all. One Coin to find them,
    One Coin to bring them all and in the darkness bind them.

[savetherainforest]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough

hardly. if they decide they don't like bitcoin then all they gotta do is block any fiatcoin transactions that are related to it. then people are suddenly gonna realize that cash was kinda cool after all. their control over your money will be nearly complete.

No one will buy their "sh!ll coin!"

[maku]

Oh my God. If this could really happen buddy all body holding bitcoin at the moment will be in a lot of dough

hardly. if they decide they don't like bitcoin then all they gotta do is block any fiatcoin transactions that are related to it. then people are suddenly gonna realize that cash was kinda cool after all. their control over your money will be nearly complete.

No one will buy their "sh!ll coin!"

No one will have to buy it. It will be given to you. That coins will be most likely linked to national FIAT currency similar like USDT is now.
By using bank's services you would agree to conduct your operation using this coin instead of standard FIAT.
This is only my assumption of how this system with bank's coins could work.

[PaymyBills]

What turn bitcoin better then Bank?

Annou, low fees, security. Banks never will offer annou, and never will practice low fees, then, Banks never will create a coin who will crash btc
 Never

[Elwar]

Localbitcoins b& in russian federation...

http://www.coinfox.info/news/6399-localbitcoins-blocked-in-russia

 

The decision took place before Russian authorities softened their rhetoric towards the cryptocurrencies.
So it seems either a very bad timing decision or a, even worse, a very stupid move.

It is blocked in germany for almost a year or even longer now
Wayne interessierts.

That's right. And it doesn't stop us from trading peer to peer.
The people here know how circumvent that stupid ban.
The russians will find ways too. I have no doubt about that.

I had not even realized that there was a ban of localbitcoins in Germany, so I googled it, and it appears that the ban began in about December 2014.  Wow!   I had considered a lot of the western european countries as a bit more receptive to bitcoin, yet I understand that there is all kinds of contradictions when it comes to the actions of various governments (in other words, hard to keep track of what everyone is doing even when consistently attempting to follow relevant bitcoin news developments).

The only thing the ban did was it froze competition. They blocked the IPs from Germany and made it so you can't create new ads in Germany. What this did was make it so that people that already had ads were now the only people selling bitcoins in Germany and they could charge high rates because of it. People still connected to the ads via VPN or whichever route they needed to take and once you were logged in you had access to all of your ads and messages anyway.

So by "blocking" it, all they did was create monopolies. As governments tend to do.

[savetherainforest]

Where is my pump!!??  

[Karartma1]

Where is my pump!!??  

Your pump has been blocked: you should call a plumber. 

I expected we could have gotten past $650 but the $640 resistance level proved itself very strong.
We shall wait a bit more.

[DeathAngel]

Where is my pump!!??  

I think I found it