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

[tskweres]

A new US-based exchange (CoinMKT.com) opened last night with Dwolla as a deposit option.  It will be interesting to see if this has any affect going forward.

US-based, professional looking site, multiple currencies, founders show their face publicly (https://coinmkt.com/#/about_us) and are not dodging AML&KYC compliance.

Interesting. Definitely keep an eye on this exchange.

Model turned MSB?

http://www.travisskweres.com/#/modeling

That is strange. He is a model?

The startup life has definitely put a few lbs on my mid section, but crypto is of course my only focus these days

[ChartBuddy]

[joesmoe2012]

    Gox has not processed ANY SWIFT Transfers (i.e. GBP, USD, AUD, etc) in months with the exception of a few larger "manually processed" wires at 5% fee.     

[ElectricMucus]

    Gox has not processed ANY SWIFT Transfers (i.e. GBP, USD, AUD, etc) in months with the exception of a few larger "manually processed" wires at 5% fee.     

scam

[ChartBuddy]

[desired_username]

   Gox has not processed ANY SWIFT Transfers (i.e. GBP, USD, AUD, etc) in months with the exception of a few larger "manually processed" wires at 5% fee.    

I have got GBP and EUR transfers processed

So much fud everywhere..

[ChartBuddy]

[NewLiberty]

A new US-based exchange (CoinMKT.com) opened last night with Dwolla as a deposit option.  It will be interesting to see if this has any affect going forward.

US-based, professional looking site, multiple currencies, founders show their face publicly (https://coinmkt.com/#/about_us) and are not dodging AML&KYC compliance.

Interesting. Definitely keep an eye on this exchange.

Model turned MSB?

http://www.travisskweres.com/#/modeling

That is strange. He is a model?

The startup life has definitely put a few lbs on my mid section, but crypto is of course my only focus these days

I think they were saying "Congratulations on the launch", but something was lost in the translation.
(Translations from Trader to English is like Orcish to Elven, the inflections are tricky.)

[justusranvier]

http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/#comment-115757

[prophetx]

http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/#comment-115757

Does this mean we should be selling now?

[Zangelbert Bingledack]

http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/#comment-115757

Does this mean we should be selling now?

Re: the overvaluation contention, it means Falvinge doesn't understand investing very well. The whole point of investing is, in a sense, to figure out how much potential hard-to-ascertain value things have and boost the price accordingly. The rising price alerts others to what they weren't savvy enough to figure out themselves, then they herd in, of course always to excess, but leave the price in the end higher than it was. Investors do the hard work so others don't have to, smoothing out the volatility as well.

In other words, the price of Bitcoin is where it is in large part because people judge it to have a strong chance of being much more useful in the future. It seems like an amateur error by Falvinge to imagine that the BTC price should exactly match Bitcoin's present utility, rather than its present + potential future utility. By that logic, all venture capitalists are idiots.

Re: the price fixing accusation, it means Falvinge doesn't understand that only a government can fix prices for any significant length of time. If people are misled by painting the tape, they will lose money and wise up. "Fool me twice, shame on me." It's only a short-term effect.

[manfred]

http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/#comment-115757

[NewLiberty]

His estimation of 4$/bitcoin is based on the assumption, that there are 11mil bitcoins in circulation.
I think that we can assume that less than 10% bitcoins are used in day-to-day use. [40$ per bitcoin]

When I ran numbers on what I thought the cost per bitcoin should be to buy it came to $40 per bitcoin in June.  But the problem I have found is that real world is not anything like the bitcoin world.  Look at the security pages and why bitcoin stocks are trading 10x of what they should be.

What did you use to figure out what the value of a Dollar "should" be?

[solex]

Interesting how a bubble/crash can be revealed later as a temporary period of exuberance and fear within a larger uptrend.
Crude Oil monthly chart reminds me of something else...

[ElectricMucus]

I have not heard of Gox having problems processing non-USD withdrawals, then why is Gox (much) higher in
those currencies as well?

They also failed to process any of my EUR and CHF withdrawals.

Shh, you're supposed to pretend, like this guy:

    Gox has not processed ANY SWIFT Transfers (i.e. GBP, USD, AUD, etc) in months with the exception of a few larger "manually processed" wires at 5% fee.     

I have got GBP and EUR transfers processed

So much fud everywhere..

Who are you?

[ElectricMucus]

http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/#comment-115757

This divided by that—easy peasy. Falkvinge should run the Fed.

lol

Jokes aside, the true believers now are a different flock than they were 2 years ago...

[Its About Sharing]

Interesting how a bubble/crash can be revealed later as a temporary period of exuberance and fear within a larger uptrend.
Crude Oil monthly chart reminds me of something else...

Wow, I really thought that was the BTC chart. Amazing. And what happened to crude at the end? (Is that up to date?)

[GreekGeek]

Hello Guys

it's being a while since I posted anything

look what I found yesterday
the price of gold since 1953 looks very familiar...
http://tinyurl.com/pz7yo94

if someone else has posted , I apologize

[Itcher]

Falkvinge wants bitcoin to become what he thinks bitcoin was made for.

The most importan claim he makes is that more than 90 percent of the bitcoin-prize is made of speculation. Even if he's wrong and it are 80 or 70 or 60 percent - this is more unnatural and insustaineble than fiat has been in its worst days.

[prophetx]

http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/#comment-115757

This divided by that—easy peasy. Falkvinge should run the Fed.

lol

He should take a pencil to his other eyeball