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

[niothor]

$120 isn't cheap? 11 million shares and a global economy that we are only hoping to get a small fraction of a percentage of ? $120 is VERY cheap when you factor in the market, incoming VC money, low float, affect on currency/monetary policy, etc. We are talking about a revolutionary game changing technology. Can you come up with something better?  

You know  the problem?  That the number of actual bitcoins transactions is going down, volume is doing the same and the number of users paying/buying in bitcoins is becoming quickly the same as oct-dec 2012.

The way I see things we're gonna end with a highly valuable bitcoin that nobody uses but it is worth millions because of the things it CAN do.

[1713574025]

1713574025

[Its About Sharing]

$120 isn't cheap? 11 million shares and a global economy that we are only hoping to get a small fraction of a percentage of ? $120 is VERY cheap when you factor in the market, incoming VC money, low float, affect on currency/monetary policy, etc. We are talking about a revolutionary game changing technology. Can you come up with something better?  

You know  the problem?  That the number of actual bitcoins transactions is going down, volume is doing the same and the number of users paying/buying in bitcoins is becoming quickly the same as oct-dec 2012.

The way I see things we're gonna end with a highly valuable bitcoin that nobody uses but it is worth millions because of the things it CAN do.

A currency not used is essentially a useless currency - at least when one considers what BTC is about.

Anyway, with the (current) 100,000,000 bits per BTC, it doesn't require many to be in circulation for it to be effective. We have near infinite divisibility (can increase) of each of the 11 million BTC units (not infinitely printable like current central banks and Quantitative easing - yuck! Think about that... Use it or lose it I would say though. It should not be about hoarding. We are early on in the movement though so things will change here as we go forward. Further the mentality of the average BTC user is not about power and fame. This is a morally found movement about change. Don't cheapen the argument here.

We are taking part in the largest social experiment in our history. And you know the answer? eheeh, come on...    We are all sitting in the front row and watching with our eyes wide open...  

[Richy_T]

Comprehend this

[crumbcake]

$120 isn't cheap? 11 million shares and a global economy that we are only hoping to get a small fraction of a percentage of ? $120 is VERY cheap when you factor in the market, incoming VC money, low float, affect on currency/monetary policy, etc. We are talking about a revolutionary game changing technology. Can you come up with something better?  

You know  the problem?  That the number of actual bitcoins transactions is going down, volume is doing the same and the number of users paying/buying in bitcoins is becoming quickly the same as oct-dec 2012.

The way I see things we're gonna end with a highly valuable bitcoin that nobody uses but it is worth millions because of the things it CAN do.

I wonder if perpetual bulls find Pascal's Wager convincing... 

[crumbcake]

Comprehend this

http://www.rtcons.com/wall/oops.png

PLZ make it strobe!!

[batcoin]

Comprehend this

BFL output?

[niothor]

It should not be about hoarding.

That's my point also , but I bet 99% think (and do) otherwise.

[niothor]

Comprehend this

It clearly shows that time, space and bitcoins are relative.

[Its About Sharing]

It should not be about hoarding.

That's my point also , but I bet 99% think (and do) otherwise.

Early one people seem to be doing two things:
1 - Have a BTC savings account (e.g. paper wallet, etc.)
2 - Have a spending account (e.g. - client, e-wallet, android apps, etc.)

At this point in time it seems the users are also trying to spend their BTC's with #2 but they are also holding (hoarding?) for the future. But I don't see that as a long term problem. As the price goes up people will start selling. That has already begin. It is a sort of distribution system. We don't want "wall street" buying things up at these low levels.

[ChartBuddy]

[Rampion]

Nice chart, buddy!

[adamstgBit]

yes better view  

+tip 420uBTC

[wachtwoord]

Please don't start the hoarding discussion again. That discussion is moot, use the search function please. (Oh and if you are a Keynesian all hope's lost for you anyway )

[solex]

You know  the problem?  That the number of actual bitcoins transactions is going down, volume is doing the same and the number of users paying/buying in bitcoins is becoming quickly the same as oct-dec 2012.

These show an uptrend. If they were a price chart you would call the maintrend very bullish

https://blockchain.info/charts/n-transactions?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

https://blockchain.info/charts/my-wallet-n-users

[adamstgBit]

http://youtu.be/LCRNI04tnN8?t=4s

[niothor]

You know  the problem?  That the number of actual bitcoins transactions is going down, volume is doing the same and the number of users paying/buying in bitcoins is becoming quickly the same as oct-dec 2012.

These show an uptrend. If they were a price chart you would call the maintrend very bullish

https://blockchain.info/charts/n-transactions?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

https://blockchain.info/charts/my-wallet-n-users

And those show the opposite

https://blockchain.info/charts/n-transactions

https://blockchain.info/charts/n-unique-addresses

Total number of transaction per day is irelevant matched with the unique one. Why? Satoshi Dice. There are people who are doing hundred of them daily so..

[wachtwoord]

You know  the problem?  That the number of actual bitcoins transactions is going down, volume is doing the same and the number of users paying/buying in bitcoins is becoming quickly the same as oct-dec 2012.

These show an uptrend. If they were a price chart you would call the maintrend very bullish

https://blockchain.info/charts/n-transactions?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

https://blockchain.info/charts/my-wallet-n-users

And those show the opposite

https://blockchain.info/charts/n-transactions

https://blockchain.info/charts/n-unique-addresses

Total number of transaction per day is irelevant matched with the unique one. Why? Satoshi Dice. There are people who are doing hundred of them daily so..

Both show a clear long term uptrend ....

[MickeyT2008]

http://youtu.be/LCRNI04tnN8?t=4s

+1  Both educational and also entertaining too!

[solex]

You know  the problem?  That the number of actual bitcoins transactions is going down, volume is doing the same and the number of users paying/buying in bitcoins is becoming quickly the same as oct-dec 2012.

These show an uptrend. If they were a price chart you would call the maintrend very bullish

https://blockchain.info/charts/n-transactions?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

https://blockchain.info/charts/my-wallet-n-users

And those show the opposite

https://blockchain.info/charts/n-transactions

https://blockchain.info/charts/n-unique-addresses

Total number of transaction per day is irelevant matched with the unique one. Why? Satoshi Dice. There are people who are doing hundred of them daily so..

Both show a clear long term uptrend ....

Correct wachtwood.
Using the 7-day avg for smoothing
https://blockchain.info/charts/n-unique-addresses?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

The peak matches the $266 peak when a lot of coins came into the market from cold storage. Only dipped since then due to lower price stability.
The number of addresses used is exploding upwards in a month by month view.

[RationalSpeculator]

$120 isn't cheap? 11 million shares and a global economy that we are only hoping to get a small fraction of a percentage of ? $120 is VERY cheap when you factor in the market, incoming VC money, low float, affect on currency/monetary policy, etc. We are talking about a revolutionary game changing technology. Can you come up with something better?  

True, compared to world economy $120 is still cheap. But world domination takes time. Historical growth rate of bitcoin is somewhere around a tenfolding every 1-2 years. That just happened, so chances are low it will happen again anytime soon. A black swan event can ofcourse always occur, a single ambitious billionaire jumping into bitcoin can do the trick, so always be exposed to bitcoin with a decent percentage of your capital.

That being said, chances are higher for it to correct after a bubble than for it to launch into a new one shortly thereafter. So a good portion of your bitcoin capital on the sidelines is rational in my opinion.