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

[fitty]

- I buy OTC from goat ->

I knew a guy who got a bad rash on his penis from banging a goat. He used OTC cream to fix it up.

I'm not sure what either one of our stories have to do with banks or bitcoins. But there you have it.

[rpietila]

I'm not sure what either one of our stories have to do with banks or bitcoins. But there you have it.

I was astounded by your join date. You don't seem to be too smart, having spent here so long, still not understanding anything. Or was it just that you sold at the bubble pop in February 7th, 2013, and have a hard time adjusting your reality?

[underground_]

There goes 145...

[needmorecoins]

Quiet monday...

[Geist]

Quiet monday...

Meh, it was a bank holiday in Japan. I'm assuming tomorrow will be much more exciting.

[Kazu]

Bank holiday == no bank wires right?

[Geist]

Bank holiday == no bank wires right?

Yep...although I just realized that it's 2:00pm Tuesday in Japan right now, which is not a bank holiday.

[molecular]

Worth listening to:
http://youtu.be/59uTUpO8Dzw?t=19m14s

(starts at 19m14s)

Ok, now count me as very hyped. 

What an eloquent bitcoin super-bull. I love this guy! And I think he's correct, "this is the time where people should be trying really big crazy things".

[molecular]

I just loaded some rocket fuel, we're about to blast off to the moon!

Paul Buchheit: "Bitcoin may be the TCP/IP of money."

Paul Buchheit is an American computer programmer and entrepreneur. He was the creator and lead developer of Gmail.
He developed the original prototype of Google AdSense as part of his work on Gmail.
He also suggested the company's now-famous motto "Don't be evil" in a 2000 meeting on company values.

The main problem I see is that Bitcoin is so dependant on the banking system. The exchanges fall apart without bank accounts, without wires, without ach deposits. Bitcoin works great as a "secondary" or "transaction" currency. Which means you use it when you want the privacy (buying bongs/dildos) or to avoid fees (sending to people in different countries). So you still use USD, you're paid in USD, you just use Bitcoin when the situation warrants it (and the advantages it brings).

When an exchange can be crippled because one american bank account gets closed, that sorta points to the fact this "de-centralized" currency really needs the "centralized" banks to operate. Bitcoin is doing well because Govts/Banks are letting it exist. Sure they can't destroy it, but they sure could make it a lot harder to use. Most sellers wouldn't want BTC if they couldn't convert it to their native currency. But Banks are greedy, they launder money for drug cartels, so I doubt they care about Bitcoin as long as they get a share (which they do, wires are expensive).

Yeah, we "Bears" have been preaching this all along, yet we were pointed at by the "true believers" and accused of "FUD".

Bitcoin doesn't need the banks to operate. They make the current "value-bootstrapping phase" much easier, though.

When airplanes were invented, did people say "That's never going to work out, these new-fangled ariplanes still need strips of road for takeoff and landing"? Not too good of an analogy, but you get the point.

[molecular]

Banks, according to my observation, you have a precious little share in bitcoin transactions right now, and about to lose it all. Bitcoin user won't even notice when the last cord is cut. Bears better buy in. It's gonna be a ride from now as people are understanding this (read it all, just recently pruned with a steady hand!).

that "this" link is borked.

[molecular]

Bank holiday == no bank wires right?

Yep...although I just realized that it's 2:00pm Tuesday in Japan right now, which is not a bank holiday.

I think your clock is off: http://www.timeanddate.com/worldclock/city.html?n=248

[ManBearPig]

If we hit $150 that will be huge. I doubt it though.

I suspect it will fall by close today, this rise has been solid. $165 should be tougher to breach than $150.

[Geist]

Worth listening to:
http://youtu.be/59uTUpO8Dzw?t=19m14s

(starts at 19m14s)

Ok, now count me as very hyped. 

What an eloquent bitcoin super-bull. I love this guy! And I think he's correct, "this is the time where people should be trying really big crazy things".

If I didn't already have all my money invested in Bitcoin, I'd be investing the rest of it in bitcoin.

Bank holiday == no bank wires right?

Yep...although I just realized that it's 2:00pm Tuesday in Japan right now, which is not a bank holiday.

I think your clock is off: http://www.timeanddate.com/worldclock/city.html?n=248

It was 2:00pm in Japan when I made that post...

[rpietila]

Banks, according to my observation, you have a precious little share in bitcoin transactions right now, and about to lose it all. Bitcoin user won't even notice when the last cord is cut. Bears better buy in. It's gonna be a ride from now as people are understanding this (read it all, just recently pruned with a steady hand!).

that "this" link is borked.

Corrected (it is my diary anyway, but now it's a nice read after deleting 30 or so posts, which are no more that relevant).

[samson]

Bank holiday == no bank wires right?

Yep...although I just realized that it's 2:00pm Tuesday in Japan right now, which is not a bank holiday.

The coming week is full of holidays.

Monday : Japan
Wednesday : Most of the western world, especially lots of countries in Europe.
Friday : Japan, again !
Monday 6th May - UK holiday

[ManBearPig]

Things are moving...

[fitty]

Things are moving...

Nothing gets by BearPig. This guy knows his stuff.

[rpietila]

If I wasn't all in, this would be a safe point to go speculative long. (We intend to short it at higher levels today, perhaps $180.)

EDIT: I mean it'll have to breach $150 first but I kind of see it getting there

[notme]

Things are moving...

Nothing gets by BearPig. This guy knows his stuff.

+1... ManBearPig is the wisest wizard

[ManBearPig]

What part of "Wall Observer" am I CONSTANTLY misunderstanding?