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

[wachtwoord]

Do I have to remind you guys that keeping coins and not spending them means you're killing it as a currency?

Do I need to remind you that complete and utter bs?

[1714693677]

1714693677

[1714693677]

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[Its About Sharing]

Do I have to remind you guys that keeping coins and not spending them means you're killing it as a currency?

But , again everbody is free to believe one day he's gonna be rich from bitcoins.
Glad I don't have this problem 

That is completely false on many levels. We are investing in a future technology for starters. There are more than enough bits to go around.

[Rampion]

Do I have to remind you guys that keeping coins and not spending them means you're killing it as a currency?

But , again everbody is free to believe one day he's gonna be rich from bitcoins.
Glad I don't have this problem 

And BTW, i spend them too. And I donate to BTC  causes too. It's just that my stash tends to increase instead of decreasing, is that bad in your opinion?

[internationalaw]

Hoarding is just another word for "saving"...Something more people with traditional fiat should do.

[niothor]

Do I have to remind you guys that keeping coins and not spending them means you're killing it as a currency?

But , again everbody is free to believe one day he's gonna be rich from bitcoins.
Glad I don't have this problem 

And BTW, i spend them too. And I donate to BTC  causes too. It's just that my stash tends to increase instead of decreasing, is that bad in your opinion?

That part of course not.
But too many people just hoard bitcoins and when they indeed have the pos. to spend them they chose cash because ... bitcoins value is going to skyrocket.

[N12]

[ChartBuddy]

[notme]

Hoarding is just another word for "saving"...Something more people with traditional fiat should do.

+1

[MelMan2002]

8.50000?

[niothor]

8.50000?

[notme]

8.50000?

37.2

[MelMan2002]

8.50000?

yeah, why 8.5??

[lucas.sev]

4, 8, 15...

[Odalv]

:-) ... but on the other hand bitcoin IS one of the best invention I know ( second place ... 1. place is reserved for Internet)

[gizmoh]

Tomorrow the bulls will come and say higher lows at 106.15

[BitcoinAshley]

Do I have to remind you guys that keeping coins and not spending them means you're killing it as a currency?

Yes, that is true in Paul Krugman's socialist keynesian wet dream.

In the real world we call it "using buzzwords (like 'hoarders') to demonize responsible saving."

Nobody ever has any legit data to back up their assumption that there is this huge number of people who hoard BTCs and never spend them. Although if you look at tx volume, you'd easily see that the ratio of spent coins to hoarded coins is much higher than with the USD OR precious metals, which is a good thing, so what the heck are we still complaining about? The second we say "Oh, but I do spend my coins" the 'anti-hoarder' crowd backs off - "Oh, well that's ok, you're a spender, you're benefiting the currency."
So what is the magical ratio of spend to saved coins you must reach before being considered a hoarder, and how can we empirically justify this ratio? No one has ever answered me this question, and I ask it every single time someone demonizes saving by implying that it "kills bitcoin."

People hoarded gold and silver and they were used as currencies for millenia. Thousands of years. Go read Fekete's papers on monetary theory you will shit your pants when you read what he has to say about the role of hoarding 

It reminds me of the people who say "bitcoin is riding on silk road" (newest reincarnation: lucas.sev.) No matter how many times you roll your eyes they keep coming back and repeating the same old shtick, as if repeating it a hundred times will make it true.

[niothor]

Do I have to remind you guys that keeping coins and not spending them means you're killing it as a currency?

Yes, that is true in Paul Krugman's socialist keynesian wet dream.

In the real world we call it "using buzzwords (like 'hoarders') to demonize responsible saving."

Nobody ever has any legit data to back up their assumption that there is this huge number of people who hoard BTCs and never spend them. Although if you look at tx volume, you'd easily see that the ratio of spent coins to hoarded coins is much higher than with the USD OR precious metals. The second we say "Oh, but I do spend my coins" the 'anti-hoarder' crowd backs off - "Oh, well that's ok, you're a spender, you're benefiting the currency."
So what is the magical ratio of spend to saved coins you must reach before being considered a hoarder, and how can we empirically justify this ratio? No one has ever answered me this question, and I ask it every single time someone demonizes saving by implying that it "kills bitcoin."

People hoarded gold and silver and they were used as currencies for millenia. Thousands of years. Go read Fekete's papers on monetary theory you will shit your pants when you read what he has to say about hoarding  

I use a toilet for that... u know... toilet!!!!!!

I know pretty well I stirred a bitbee nest by saying that but don't forget.
Greed will destroy every dream no matter how beautifull it is  , and currently bitcoin is driven by greed.

Unlike many others on forum , I haven't put all my hopes of a wealthy future in bitcoins succes, and thus I can keep a cooler head than most people here.

[zemario]

This little bounce does't really convince me.
There is solid offer volume but the bid is touching the vertex with a fragile thin spike. I think in days to come we might slowly go down like we have been the last couple of weeks.
Today, in the afternoon there was a handful of bitcoin related good news, looks like many companies are discretely preparing to get in, things might take off like we all wish, but when?

Do we kill the boredom with the good old prediction about 2013 closing price? 350usd is my bet.

[niothor]

350usd is my bet.

299k 

[ChartBuddy]