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

[Miz4r]

They are not working to solve the underlying problems of our monetary system at all, they don't even recognize how unsustainable our consumption driven economy that depends on infinite growth really is. And how the absolute power of banks to create money out of nothing and lend it out at interest turns us all into a bunch of debt slaves. Really, people need to be educated about how we're being royally screwed here. Nobody (in a position of power) is working to solve these problems at all, they just want to make you think that way while they keep rigging the system.

But usury is not a problem; it's the goal. The question is whether the powers that be can maintain the system. The answer is: they can.  

We'll see whether they can. They almost lost control of the situation in 2008, which caused many people to go out and educate themselves on what the fuck just happened. I'm pretty sure bitcoin wouldn't have been so successful without these screw ups, I probably wouldn't have been here either. I think it will become harder and harder for the powers that be to maintain the current system, especially as things get worse and worse.

[Walsoraj]

Looks like I was a day early on my Thursday mega crash prediction.

[MAbtc]

And 125 is broken....

[nrd525]

US inflation rates have become much stabler over the past twenty years.  Possibly due to the neoclassical economists winning out over the Keynesians.

http://www.usinflationcalculator.com/inflation/historical-inflation-rates/

Though I wouldn't be surprised to see a series of price shocks in the future due to resource shortages.

[Miz4r]

Looks like I was a day early on my Thursday mega crash prediction.

Sure, I think people will love their fiat being stuck on Gox with no way out.

[Rockford]

And 125 is broken....

I think it will be the new bottom.

[MonadTran]

The question is whether the powers that be can maintain the system. The answer is: they can.

Pardon me? We would still be living under the Roman Empire if they could. The only question is when the collapse is going to happen. It might happen next year. It might happen in 10 years. If anyone here thinks it won't happen in our lifetime, I can understand that, even though I don't think so. But expecting it to last forever fits Einstein's definition of insanity - "doing the same thing over and over again, and expecting different results".

https://www.youtube.com/watch?v=EdSq5H7awi8

[MoreFun]

Quite similar amount of BTC on $100 and $150. Things change pretty fast, don't they?  

[coolbeans94]

The question is whether the powers that be can maintain the system. The answer is: they can.

Pardon me? We would still be living under the Roman Empire if they could. ...

We still are living under the Roman Empire. It is just not called that anymore. They invented this cursed banking system.
Even our word “money” comes from the name of the Roman temple of Juno Moneta, in whose cave-like basement the original Roman mint was operating.

[MAbtc]

The question is whether the powers that be can maintain the system. The answer is: they can.

Pardon me? We would still be living under the Roman Empire if they could. The only question is when the collapse is going to happen. It might happen next year. It might happen in 10 years. If anyone here thinks it won't happen in our lifetime, I can understand that, even though I don't think so. But expecting it to last forever fits Einstein's definition of insanity - "doing the same thing over and over again, and expecting different results".

https://www.youtube.com/watch?v=EdSq5H7awi8

Funny how little anything has changed since then, isn't it?

As I said a few posts earlier, economic collapse will happen. This discussion was in the context of perpetual assertions that we are on the brink of collapse. Ten years from now, or within our lifetime -- those periods are irrelevant to that discussion -- though I think it's unlikely we see anything of this magnitude over those periods, either.

Really, I am coming from a psychological standpoint. As stated earlier, I am well aware that massive economic collapse will occur. But to continue to believe that this was impending, for a period of years, in the face of continued normalcy -- that took a toll on me. Plan your shit (I have), but to believe the doomsday shit that gets spewed around here... fuck all that nonsense. So many armchair economists that are so ill-equipped to analyze the world economic system...

[barbs]

So glad I'm out. Lost my profits over the past few weeks but not in the red yet.

Big ups to Jaroslaw he called it

[Walsoraj]

So glad I'm out. Lost my profits over the past few weeks but not in the red yet.

Big ups to Jaroslaw he called it

Jaro is one of Rpetilia's act accounts. I.e. NOT ME 

[barbs]

So glad I'm out. Lost my profits over the past few weeks but not in the red yet.

Big ups to Jaroslaw he called it

Jaro is one of Rpetilia's act accounts. I.e. NOT ME 

Haha apologies Walsoraj. I'm drunk at the airport and inverted your name. Just wish I listened to you sooner could have saved me a few hundred $ to put back into the pit later

Your fault for well being an inverted version of Jaroslaw

[Miz4r]

So glad I'm out. Lost my profits over the past few weeks but not in the red yet.

Big ups to Jaroslaw he called it

Jaro is one of Rpetilia's act accounts. I.e. NOT ME 

Haha apologies Walsoraj. I'm drunk at the airport and inverted your name. Just wish I listened to you sooner could have saved me a few hundred $ to put back into the pit later

Your fault for well being an inverted version of Jaroslaw

Walsoraj is calling a crash to single digits you know... good luck betting on that. Many have been calling a pullback or trend reversal, since we've been in a bull market for over two months now and it was about time to see some real downward pressure and test some support levels.

[barbs]

Bull market or unregulated exchange / whales manipulating the price ?

Gox gets to draw down its customers fiat balances

Whales have fun

Liquidity / banking problems remain

We'll see. I could be totally wrong. I still have a couple btc don't worry ;-)

[ChartBuddy]

[MoreFun]

Where is now the $whale who likes to buy cheap coins?

[Kupsi]

Where is now the $whale who likes to buy cheap coins?

He will show up @ sunday 

[RationalSpeculator]

I'm all cheering for prices to drop but I see good reason also:

this board looks dead, even with lots of price action
turnover on mtgox looks low compared to previous rise and falls where you would easily have 50K in 24h, now it's only 20k
turnover on bitstamp is also 20k, equally high as mtgox on strong move, that's new right?
bitstamp seems to be leading most moves now, meaning mtgox is really over

[tarmi]

bitstamp seems to be leading most moves now, meaning mtgox is really over

yeap, thats new.