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

[lucas.sev]

starting to get a little more exciting now

Rally is called off, everyone go home.

"A watched pot never boils"

Everyone close down clarkmoody\bitcoincharts\bitcoinity\mtgoxlive\etc so the price can jump up...

It seems there is no trust in value above 110, no panic buys too...

[crumbs]

OTOH, I also think that Bitcoin will be superseded, eventually, and possibly even by a GOV-launched coin (best way to beat BTC is to make it irrelevant), unless we reach critical mass within a short period of time (less than 10 years from introduction).

I see this Govt. backed coin oft repeated and I still have the same question.  Who is going to mine this govt. coin?  If they are going to be in control they would probably release it as they see fit anyway and based on that assumption why would they even need make a govt. coin when they already have USD which is basically already doing this?  I don't think you can beat Bitcoin with a new form of the same old system.

If just about any government becomes convinced that digital currency similar to Bitcoin is either a real threat or has advantages over other fiat, implementation itself would be trivial.

[billington.mark]

starting to get a little more exciting now

Rally is called off, everyone go home.

"A watched pot never boils"

Everyone close down clarkmoody\bitcoincharts\bitcoinity\mtgoxlive\etc so the price can jump up...

If you pour hot water out of the tap into a pot your attention span must be about the one of a ADD patient not to be able to watch it.

Pretty much sums up the majority of bitcointalk members dont you think?

[KS]

The idea is to decentralize even more by making the technology easier to use by a wider audience. A BTC blackbox, a BTC credit card etc (or rpietila's paper BTC IOUs - hmmm like Ripple ) are what's needed.

We need to take the geek side out of the Bitcoin use. Make it easy to use so people can simply ignore the technology behind it and use it as they would any other currency (and each device should be a miner, to process transactions and secure the network). That's when mass adoption can really start.

OTOH, I also think that Bitcoin will be superseded, eventually, and possibly even by a GOV-launched coin (best way to beat BTC is to make it irrelevant), unless we reach critical mass within a short period of time (less than 10 years from introduction).

I can't imagine people would happily adapt some coin created by governments.

Because everybody knows who Satoshi is? What if he/it really was/were, say, the IRA?

looking at facebook we saw many many other social networks pop up and disappear on the web before it was hugely adapted around the globe. (and that took 7-8 years!)

Looking at MySpace... they were big when FB wasn't even there (and who remembers friendster?).

i can't look in the future but also can't imagine some other cryptocurrency suddenly pop up and establish a market like btc has in last years.

Look at the MySpace/Facebook analogy. One is going nowhere and the other "to da moon".

The founders of a company are usually able to grow it to a certain size. The you need new people, "the suits", to grow it even bigger. It's like people are stuck within a certain 1-10 factor. If you want to reach 100, you need new people at 10.

Bitcoin is the founding coin, who's to say it'll grow enough before it runs out of steam? (maybe Bitcoin 2.0 will be the next Bitcoin, I'm not discounting the possibility)

[Rampion]

+1.5kBTC panic buyed from $110.5 to $112. Who pulled the trigger in here?

I didn't, because....

[KS]

OTOH, I also think that Bitcoin will be superseded, eventually, and possibly even by a GOV-launched coin (best way to beat BTC is to make it irrelevant), unless we reach critical mass within a short period of time (less than 10 years from introduction).

I see this Govt. backed coin oft repeated and I still have the same question.  Who is going to mine this govt. coin?  If they are going to be in control they would probably release it as they see fit anyway and based on that assumption why would they even need make a govt. coin when they already have USD which is basically already doing this?  I don't think you can beat Bitcoin with a new form of the same old system.

It's not a new form of the old system, it's the new system but where Govs have a stake they feel comfortable with.

It could be a disruptive Gov or a small Gov, not especially a big one (and most probably NOT a big one). Imagine if Bitcoin was backed even by a small country like, say, Luxemburg... (enough with the drug dealers and the terrorists )

[KS]

+1.5kBTC panic buyed from $110.5 to $112. Who pulled the trigger in here?

I didn't, because....

When you see a trap like that, jump it ? 

[ChartBuddy]

[hlynur]

The idea is to decentralize even more by making the technology easier to use by a wider audience. A BTC blackbox, a BTC credit card etc (or rpietila's paper BTC IOUs - hmmm like Ripple ) are what's needed.

We need to take the geek side out of the Bitcoin use. Make it easy to use so people can simply ignore the technology behind it and use it as they would any other currency (and each device should be a miner, to process transactions and secure the network). That's when mass adoption can really start.

OTOH, I also think that Bitcoin will be superseded, eventually, and possibly even by a GOV-launched coin (best way to beat BTC is to make it irrelevant), unless we reach critical mass within a short period of time (less than 10 years from introduction).

I can't imagine people would happily adapt some coin created by governments.

Because everybody knows who Satoshi is? What if he/it really was/were, say, the IRA?

looking at facebook we saw many many other social networks pop up and disappear on the web before it was hugely adapted around the globe. (and that took 7-8 years!)

Looking at MySpace... they were big when FB wasn't even there (and who remembers friendster?).

i can't look in the future but also can't imagine some other cryptocurrency suddenly pop up and establish a market like btc has in last years.

Look at the MySpace/Facebook analogy. One is going nowhere and the other "to da moon".

The founders of a company are usually able to grow it to a certain size. The you need new people, "the suits", to grow it even bigger. It's like people are stuck within a certain 1-10 factor. If you want to reach 100, you need new people at 10.

Bitcoin is the founding coin, who's to say it'll grow enough before it runs out of steam? (maybe Bitcoin 2.0 will be the next Bitcoin, I'm not discounting the possibility)

but these new coins can partly be exchanged to each other already.
I'm sure coin market would transform and every btc holder could change it to the new rising cryptocurrency. you can't just leave btc market out and start from the beginning creating your own.
(except you are a big company with an already huge market share)
the comparison to social networks was a bit off by me because some user account is worth nothing for a market in itself than the potential for marketing, btc has an actual value to buy products and that can't be ignored.

[BitPirate]

Still no volume. Perhaps the volume will come along if it keeps slowly grinding along towards 115 but I still don't trust this 'rally' and will keep watching from the sidelines.

I just hope there won't be another sunday dump which will make all this pointless.

You think there won't be any preemptive dumps?

I'll be buying all the way down this time. Assuming a bunch of other people do the same, we may end up higher than we began this time.

[sarc]

+1.5kBTC panic buyed from $110.5 to $112. Who pulled the trigger in here?

I didn't, because....

When you see a trap like that, jump it ? 

Ha! that broke the tedium. :

[Its About Sharing]

Still no volume. Perhaps the volume will come along if it keeps slowly grinding along towards 115 but I still don't trust this 'rally' and will keep watching from the sidelines.

I just hope there won't be another sunday dump which will make all this pointless.

That thought has crossed my mind often since the last weekend dump. I'm sure it is on everyones mind (scary Bitcoin thought...)

[wonkytonky]

+1.5kBTC panic buyed from $110.5 to $112. Who pulled the trigger in here?

I didn't, because....

i bought a part of it..   
I just needed to test myself to see that i was right..   

and i was ..

[lucas.sev]

+1.5kBTC panic buyed from $110.5 to $112. Who pulled the trigger in here?

I didn't, because....

i bought a part of it..   
I just needed to test myself to see that i was right..   

and i was ..

Right in what?

[ChartBuddy]

[Pzi4nk]

I say, now that we've broken through $111, it's $119 by Saturday.

[samson]

I say, now that we've broken through $111, it's $119 by Saturday.

[Miz4r]

I say, now that we've broken through $111, it's $119 by Saturday.

And then $85 by Monday.

[samson]

Up, Up, Up ?

[wonkytonky]

+1.5kBTC panic buyed from $110.5 to $112. Who pulled the trigger in here?

I didn't, because....

i bought a part of it..   
I just needed to test myself to see that i was right..   

and i was ..

Right in what?

no support..
moneyflow is going down on daily charts..
price is going up..

will correct at some point..