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

[World]

I know, right?

Listen to these guys (especially maloney) struggling: http://www.youtube.com/watch?v=lRpwRpLdLDc

The mental anguish is palpable.

The problem with this discussion is that there's no one on the Bitcoin side.

Gold bug 1: "I think gold is good."
Gold bug 2: "I also think gold is good."
Gold bug 1: "Ah, question answered then!"

Please bring Jon Matonis to the discussion next time!

Or trace meyer.

I don't think the goal of the discussion was to have a discussion.

Maloney had to answer because he was asked and other big metal heads had already voiced their opinion (Doug Casey, James Turk for example). Similar to the ones I mentioned (Turk seems to be moving faster toward bitcoin, though) he's upholding his heavy metal view cause that's his agenda.

He should listen Trace on this video
http://www.youtube.com/watch?v=iZ3zpurLcyo#t=02m26s

[dexX7]

Bitcoin is too risky/volatile ...
I don't like trading for that reason: Woooot, price just jumped ten dollars, lets crash it! weeeee, today bitcoin is worth 20 bucks more than yestarday

Isn't that what trading is about?

Bitcoin is very good for international payment - fast and free.

[Its About Sharing]

Bitcoin is too risky/volatile to be used as a safe store of value, unless you have the luck to purchase at the very start of each bubble and not plan to cash out in one year minimum, if ever.

At the moment rest in speculators territory.

No way anyone is gonna spend 1,000,000$ in bitcoins as a store of value for example, if at the next moment all the bears are going to dump their coins for the only purpose of repurchase cheaper, making the inversor lossing 15% of his inversion.

Think about it, with gold you don't have that problem, no one is watching your purchases in some charts in real time at home just waiting to crash the price later.

I don't like trading for that reason: Woooot, price just jumped ten dollars, lets crash it! weeeee, today bitcoin is worth 20 bucks more than yestarday, but my TA says it can't go parabolic! lets crash the market with my 6k coins and create some panic sell! i need moar cheap coins i don't have enought!

Very few people are cashing out because really they need the cash, 90% are waiting to see a green hour candle to dump their coins for repurchase cheaper. I respect both, but don't like the last.

Greed is slowing adoption, at least adoption by the ones expecting to use Bitcoin as a safe store of value or the ones to want to use it as a currency.

Just my 2cp.

It is too early in the life of BTC for stability. If it was stable it wouldn't make any sense as we really don't know what it is. Think about that...  As we see what it can do, who adopts it, how it gets used, the power it can be, etc. then we are going to have an idea of it's worth. You can be sure it will be MUCH higher than current levels. And,  I don't say that as an investor/speculator, just do the math and integrate a bit of foresight.

Greed just won't matter as on the one hand those decimal places will always make it usable for those that want to use it, no matter how many are holding. Though, in the long run, I don't see that being a problem. On the other hand, as the value starts to go up and goes to values that don't seem possible (by regular stock, currency, commodity, etc. standards), people will sell. Those that don't sell know what Bitcoin is, but even they will sell some, because they know what Bitcoin is. To comprehend that, you sort of have to understand what Bitcoin is 

Welcome to the greatest social experiment the world has ever known.

IAS

[ChartBuddy]

[smoothie]

Bitcoin is too risky/volatile to be used as a safe store of value, unless you have the luck to purchase at the very start of each bubble and not plan to cash out in one year minimum, if ever.

At the moment rest in speculators territory.

No way anyone is gonna spend 1,000,000$ in bitcoins as a store of value for example, if at the next moment all the bears are going to dump their coins for the only purpose of repurchase cheaper, making the inversor lossing 15% of his inversion.

Think about it, with gold you don't have that problem, no one is watching your purchases in some charts in real time at home just waiting to crash the price later.

I don't like trading for that reason: Woooot, price just jumped ten dollars, lets crash it! weeeee, today bitcoin is worth 20 bucks more than yestarday, but my TA says it can't go parabolic! lets crash the market with my 6k coins and create some panic sell! i need moar cheap coins i don't have enought!

Very few people are cashing out because really they need the cash, 90% are waiting to see a green hour candle to dump their coins for repurchase cheaper. I respect both, but don't like the last.

Greed is slowing adoption, at least adoption by the ones expecting to use Bitcoin as a safe store of value or the ones to want to use it as a currency.

Just my 2cp.

Your view is obviously too short term when speaking of store of value. Your are not an investor of bitcoin but a trader.

[telemaco]

I know, right?

Listen to these guys (especially maloney) struggling: http://www.youtube.com/watch?v=lRpwRpLdLDc

The mental anguish is palpable.

The problem with this discussion is that there's no one on the Bitcoin side.

Gold bug 1: "I think gold is good."
Gold bug 2: "I also think gold is good."
Gold bug 1: "Ah, question answered then!"

Please bring Jon Matonis to the discussion next time!

Ok i am taking a nerdish aproach to this. What about not so long future.
Look at these companies:



http://www.planetaryresources.com/

Asteroids are the best real estate in the Solar System.

Despite their celestial age, our understanding of asteroids is still in its infancy. However, the more we learn about them, the more enticing destinations they become.

Asteroids are primordial material left over from the formation of the Solar System. They are scattered throughout it: some pass close to the Sun, and others are found out beyond the orbit of Neptune. A vast majority have been collected by Jupiter’s gravity into a belt between it and Mars – an area known as the Main Belt. As it turns out, we have been discovering thousands of asteroids that do not belong to the Main Belt, but instead pass near Earth’s orbit – nearly 9,000 to date, with almost a thousand more discovered every year.

Many of these near-Earth asteroids are easily accessible from Earth. And many contain enormous quantities of accessible resources.

AN INCREDIBLE RESOURCE
There are over 1,500 asteroids that are as easy to get to as the surface of the Moon. They are also in Earth-like orbits with small gravity fields, making them easier to approach and depart.

Asteroid resources have some unique characteristics that make them especially attractive. Unlike Earth, where heavier metals are close to the core, metals in asteroids are distributed throughout their body, making them easier to extract.

Asteroids contain valuable and useful materials like iron, nickel, water, and rare platinum group metals, often in significantly higher concentration than found in mines on Earth.

We are only just beginning to realize the incredible potential of asteroids. The first encounter of a spacecraft with an asteroid was in 1991, as the Galileo spacecraft flew by the 951 Gaspra asteroid on its way to Jupiter. Our knowledge of these celestial neighbors has been revolutionized by a small set of US and international missions carried out since that time. With each visit or fly-by, the science on asteroids has been rewritten.

or Nasa plans to capture an asteroid



http://news.nationalgeographic.com/news/2013/04/130410-asteroid-recovery-nasa-space-budget-science/


We might not see it or yes if you are young enough, but maybe in 20 years there might be small asteroid mining companies around

I say that bitcoin is even better than gold. One satellite filled with gold and the gold economy will face a huge devaluation or maybe shocked if one country manages to get one and the rest of the countries get a lesser percentage of gold as a result... With Bitcoin this cannot happen

[ChartBuddy]

[Frozenlock]

My TA fu isn't very good, but could this be a potential head and shoulders?

[thezerg]

My TA fu isn't very good, but could this be a potential head and shoulders?

timescale too short  you can find anything at that granularity

[Frozenlock]

Awww...

Still, I'll leave this here for the lulz 

[smoothie]

My TA fu isn't very good, but could this be a potential head and shoulders?

Rule #1 zoom out to a longer time frame. Stop trying to predict the weather by looking at an ant.

Thanks 

[icekiss]

Welcome to the greatest social experiment the world has ever known.

I beg to differ on that: The internet is the greatest social experiment the world has ever known. Even bitcoin has been born from it! 

[ChartBuddy]

[oroboras]

I can't believe people have bullied ChartBuddy into doing silent protest posts

[giszmo]

I know, right?

Listen to these guys (especially maloney) struggling: http://www.youtube.com/watch?v=lRpwRpLdLDc

The mental anguish is palpable.

WTF??? How do people hold on to using the term "intrinsic value" in the most arbitrary ways???
Because it cost money *in the past* gold has intrinsic value?
Salt has also a high intrinsic value cause it cost a lot of work in the past?
Your hard labor of the past will give your shiny metal value once those asteroids drop 50 times our gold reserves down to earth per year?
This totally degenerated argument of gold being valuable because of its intrinsic value is just beyond stupid.

If at all, intrinsic value is the value of something once I stop swapping it for other stuff (make tools, eat it, etc.) aka a future value in case nobody wants to trade not a past value that drove people to mine it with hard work. Past appreciation doesn't give value to anything and in this sense I strongly oppose to "bitcoin is backed by electricity" and only jokingly mention that bitcoin is backed by drama cause that's the only aspect it guarantees for the foreseeable future.

[Richy_T]

nice, i like how you really made the 3d pop out!

Sorry. Bumming round Southern Florida at the moment. Thought I had cleared enough space...

[ChartBuddy]

[TheKoziTwo]

Yeah, I will haunt your dreams. 

[adamstgBit]

500 - Internal server error - Bitcoin Charts

[ChartBuddy]