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

[fr33d0miz3r]

All indicators are saying me that we will hit $130 within 5-10 days

[Its About Sharing]

This

Kipochi as Bitcoin <-> M-PESA exchange in Kenya

is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.

I've mentioned the Kipochi thing since I've heard about it. It really is the best news we've seen in a while (or ever?) but not many people, for whatever reason, can see it. For sure it is an unknown as we don't know if it will catch on, but there is a chance that if it does it will show what BTC can do (or not do). Our little Black Swan offspring with anti-fragile legs...

Stranger things have happened, I mean in some countries cell phone minutes is a larger currency than BTC, by orders of magnitude. Hey wait...  

[Its About Sharing]

All indicators are saying me that we will hit $130 within 5-10 days

It is a toss up for me between your incredible research and well labelled charts that brings me into your camp...

[niothor]

This

Kipochi as Bitcoin <-> M-PESA exchange in Kenya

is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.

I would agree if kipochi wouldn't look soooo cheap. They have more typos than sentences on their barely professional page and no updates in a while, so I want them to proof themselves first. Their mpesa partner is not affiliated to mpesa aka some guy who's using his private mpesa account to manually funnel transactions?
I call this vaporware and would take bets that they don't process 1000 transactions within the next 3 months or prior to having serious issues. Total noobs trying to do finance at best. Maybe just some pump and dump.

I really don't understand the news about kipochi.
They aren't really affiliated with Mpesa , in the reddit section they talk about not wanting to be a competitor for it...
I agree the website looks so cheap and almost no info about how it really works, plus it needs web for the phones unlike the sms from Mpesa.

It's a great idea but can't shake the feeling of Gox level of management behind it.

[Frozenlock]

I've mentioned the Kipochi thing since I've heard about it. It really is the best news we've seen in a while (or ever?) but not many people, for whatever reason, can see it.

When everyone was bullish, even bad news were seen as good.

I guess we are in a reverse situation where good news are invisible.

[Its About Sharing]

This

Kipochi as Bitcoin <-> M-PESA exchange in Kenya

is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.

I would agree if kipochi wouldn't look soooo cheap. They have more typos than sentences on their barely professional page and no updates in a while, so I want them to proof themselves first. Their mpesa partner is not affiliated to mpesa aka some guy who's using his private mpesa account to manually funnel transactions?
I call this vaporware and would take bets that they don't process 1000 transactions within the next 3 months or prior to having serious issues. Total noobs trying to do finance at best. Maybe just some pump and dump.

I read an article about a relatively recent experiment where they dropped off some computers in a few villages with zero instructions. It was a short matter of time before those "village people" figured out not only how to hack, communicate and make those little bad boys fully functional but overall became computer experts and not just literate. The creativity they expressed was unexpected. Don't overlook the vacuum created in third world countries for knowledge.

[niothor]

This

Kipochi as Bitcoin <-> M-PESA exchange in Kenya

is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.

I would agree if kipochi wouldn't look soooo cheap. They have more typos than sentences on their barely professional page and no updates in a while, so I want them to proof themselves first. Their mpesa partner is not affiliated to mpesa aka some guy who's using his private mpesa account to manually funnel transactions?
I call this vaporware and would take bets that they don't process 1000 transactions within the next 3 months or prior to having serious issues. Total noobs trying to do finance at best. Maybe just some pump and dump.

I read an article about a relatively recent experiment where they dropped off some computers in a few villages with zero instructions. It was a short matter of time before those "village people" figured out not only how to hack, communicate and make those little bad boys fully functional but overall became computer experts and not just literate. The creativity they expressed was unexpected. Don't overlook the vacuum created in third world countries for knowledge.

I would have believed that story if , they would take the time to name that village in Ethiopia at least once rather that saying every pharagraph that it was a Motorola device.

[Coinseeker]

All fair negative points as it relates to kipoch.  This is what provides that level of uncertainty.  However, the fact that people found a way to turn cellphone minutes into currency shows the resolve of a people and I find that fascinating.  Exposure to something like Bitcoin that can free them from things like Western Union fees and also provide a store of value (I've always said this is a plus of BTC) could just as easily take off if not more so. Especially if they can use the system they are already used to.

Maybe this isn't the right group to bring it to the people and who knows, maybe in it's unprofessional form, its exactly what they need.  Kinda like that sh*ty song on the radio that plays 10 times an hour. It's complete garbage, but everybody loves it.  After awhile, you catch yourself even humming it  

[Its About Sharing]

This

Kipochi as Bitcoin <-> M-PESA exchange in Kenya

is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.

I would agree if kipochi wouldn't look soooo cheap. They have more typos than sentences on their barely professional page and no updates in a while, so I want them to proof themselves first. Their mpesa partner is not affiliated to mpesa aka some guy who's using his private mpesa account to manually funnel transactions?
I call this vaporware and would take bets that they don't process 1000 transactions within the next 3 months or prior to having serious issues. Total noobs trying to do finance at best. Maybe just some pump and dump.

I read an article about a relatively recent experiment where they dropped off some computers in a few villages with zero instructions. It was a short matter of time before those "village people" figured out not only how to hack, communicate and make those little bad boys fully functional but overall became computer experts and not just literate. The creativity they expressed was unexpected. Don't overlook the vacuum created in third world countries for knowledge.

I would have believed that story if , they would take the time to name that village in Ethiopia at least once rather that saying every pharagraph that it was a Motorola device.

Snippet

The experiment is being done in two isolated rural villages with about 20 first-grade-aged children each, about 50 miles from Addis Ababa. One village is called Wonchi, on the rim of a volcanic crater at 11,000 feet; the other is called Wolonchete, in the Great Rift Valley. Children there had never previously seen printed materials, road signs, or even packaging that had words on them, Negroponte said.

Earlier this year, OLPC workers dropped off closed boxes containing the tablets, taped shut, with no instruction. “I thought the kids would play with the boxes. Within four minutes, one kid not only opened the box, found the on-off switch … powered it up. Within five days, they were using 47 apps per child, per day. Within two weeks, they were singing ABC songs in the village, and within five months, they had hacked Android,” Negroponte said. “Some idiot in our organization or in the Media Lab had disabled the camera, and they figured out the camera, and had hacked Android.”

http://www.technologyreview.com/news/506466/given-tablets-but-no-teachers-ethiopian-children-teach-themselves/

So, how does it feel to be a believer?

[ChartBuddy]

[niothor]

Snippet

The experiment is being done in two isolated rural villages with about 20 first-grade-aged children each, about 50 miles from Addis Ababa. One village is called Wonchi, on the rim of a volcanic crater at 11,000 feet; the other is called Wolonchete, in the Great Rift Valley. Children there had never previously seen printed materials, road signs, or even packaging that had words on them, Negroponte said.

Earlier this year, OLPC workers dropped off closed boxes containing the tablets, taped shut, with no instruction. “I thought the kids would play with the boxes. Within four minutes, one kid not only opened the box, found the on-off switch … powered it up. Within five days, they were using 47 apps per child, per day. Within two weeks, they were singing ABC songs in the village, and within five months, they had hacked Android,” Negroponte said. “Some idiot in our organization or in the Media Lab had disabled the camera, and they figured out the camera, and had hacked Android.”

http://www.technologyreview.com/news/506466/given-tablets-but-no-teachers-ethiopian-children-teach-themselves/

So, how does it feel to be a believer?

I feel even more skeptical about it , Wonchi appears to be a travel destinanion quite used for people visisting etiophia and addis , even with a hotel nearby , so this thing about never seen that never seen this appears more unbelievable.

3. Never seen letters?
Serious doubts have also been expressed about Negroponte’s claim that these people have never seen print, even road signs or words on packaging. Many Africans have expressed astonishment at this statement. It’s only 50 miles from the capital Addis Ababa. Beni, an Ethiopian, says, “I know part of Wonchi and it is not as remote as you displayed it.” Another says “I bet there is a good number of people in that village who write and read. I bet these children have their own "school" that teaches them something in "Amhari" or probably even some English….I seriously doubt the very "strange" picture painted here.” Indeed, it’s on the lip of a well-known tourist spot the Wonchi Crater, which has a lodge hotel (previous residence of Haile Selassie) and is a centre for Eco-tourism. There’s even Tripadvisor reviews for the place and lots of pictures taken by tourists as the crater rim is an established trek route, which you can do in a day from the capital.

If you continue to do a research you can find more about the guy running the projects , it's failures and it's money management let's not say fraud

[Marbit]

This

Kipochi as Bitcoin <-> M-PESA exchange in Kenya

is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.

I would agree if kipochi wouldn't look soooo cheap. They have more typos than sentences on their barely professional page and no updates in a while, so I want them to proof themselves first. Their mpesa partner is not affiliated to mpesa aka some guy who's using his private mpesa account to manually funnel transactions?
I call this vaporware and would take bets that they don't process 1000 transactions within the next 3 months or prior to having serious issues. Total noobs trying to do finance at best. Maybe just some pump and dump.

I read an article about a relatively recent experiment where they dropped off some computers in a few villages with zero instructions. It was a short matter of time before those "village people" figured out not only how to hack, communicate and make those little bad boys fully functional but overall became computer experts and not just literate. The creativity they expressed was unexpected. Don't overlook the vacuum created in third world countries for knowledge.

I would have believed that story if , they would take the time to name that village in Ethiopia at least once rather that saying every pharagraph that it was a Motorola device.

Snippet

The experiment is being done in two isolated rural villages with about 20 first-grade-aged children each, about 50 miles from Addis Ababa. One village is called Wonchi, on the rim of a volcanic crater at 11,000 feet; the other is called Wolonchete, in the Great Rift Valley. Children there had never previously seen printed materials, road signs, or even packaging that had words on them, Negroponte said.

Earlier this year, OLPC workers dropped off closed boxes containing the tablets, taped shut, with no instruction. “I thought the kids would play with the boxes. Within four minutes, one kid not only opened the box, found the on-off switch … powered it up. Within five days, they were using 47 apps per child, per day. Within two weeks, they were singing ABC songs in the village, and within five months, they had hacked Android,” Negroponte said. “Some idiot in our organization or in the Media Lab had disabled the camera, and they figured out the camera, and had hacked Android.”

http://www.technologyreview.com/news/506466/given-tablets-but-no-teachers-ethiopian-children-teach-themselves/

So, how does it feel to be a believer?

Anything not anecdotal?

[niothor]

Well , in term of number of transactions , we're back to 2012 ... cimpochi to the rescue?

[ChartBuddy]

[NewLiberty]

Well , in term of number of transactions , we're back to 2012 ... cimpochi to the rescue?

Not surprising.
More anecdotes:
At these exchange rates, folks are not spending them and so almost all my orders are USD.
The BTC buys less silver now than they used to.  Had a lot of orders when BTC was >110, more than I could take and clear so I had to limit the BTC sales.  Now it is all USD.

[ChartBuddy]

[sarc]

It appears I've gotten a bad reputation amongst some bulls. I was spreading FUD or whatnot.
Well, now's the time to troll the bears and test their position!
Will you really hold your ground?  

The crash of 2012:




Yup, it was all 2011 again.
Except it wasn't.


Now if you'll excuse me, I have bears to troll.  

Nice bit of mischief Frozenlock, and an interesting test...

Using the same range you did, it turns out it was just a little hissy fit, returning to the underlying growth trajectory. It was, in fact, sooooo 2011.  



get you bids in to take full advantage of 'despair' ladies and gentlemen...2011 had half price coins during despair (compared to the growth trend value i.e. $2 coins instead of the predicted $4 that subsequently arrived) .

[Its About Sharing]

I feel even more skeptical about it , Wonchi appears to be a travel destinanion quite used for people visisting etiophia and addis , even with a hotel nearby , so this thing about never seen that never seen this appears more unbelievable.

3. Never seen letters?
Serious doubts have also been expressed about Negroponte’s claim that these people have never seen print, even road signs or words on packaging. Many Africans have expressed astonishment at this statement. It’s only 50 miles from the capital Addis Ababa. Beni, an Ethiopian, says, “I know part of Wonchi and it is not as remote as you displayed it.” Another says “I bet there is a good number of people in that village who write and read. I bet these children have their own "school" that teaches them something in "Amhari" or probably even some English….I seriously doubt the very "strange" picture painted here.” Indeed, it’s on the lip of a well-known tourist spot the Wonchi Crater, which has a lodge hotel (previous residence of Haile Selassie) and is a centre for Eco-tourism. There’s even Tripadvisor reviews for the place and lots of pictures taken by tourists as the crater rim is an established trek route, which you can do in a day from the capital.

If you continue to do a research you can find more about the guy running the projects , it's failures and it's money management let's not say fraud

I was just answering the original question (name a village) about the project. You raise valid concerns if indeed true.

That would be really sad if fraud is involved with the Once Laptop Per Child project. It sounded so nice and I had high hopes for it. (years ago).

Looks like this "rally" is losing steam...

[ChartBuddy]

[solex]

Well , in term of number of transactions , we're back to 2012 ... cimpochi to the rescue?

Not surprising.
More anecdotes:
At these exchange rates, folks are not spending them and so almost all my orders are USD.
The BTC buys less silver now than they used to.  Had a lot of orders when BTC was >110, more than I could take and clear so I had to limit the BTC sales.  Now it is all USD.

The latest Bitcoin software v0.8.3 disincentivizes the number of micro-transactions. This stat is likely influenced by that change.