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

[klee]

Digital Currency
Virtual reality may exist only in science fiction, but consumers now are able to purchase goods and services with virtual money such as Bitcoin, PP Coin and other digital currencies.

http://www.dfi.wa.gov/consumers/topscams.htm

 

buy PPC?

If it goes again @0.02 BUY!!

EDIT: Oh shit, it is @0.0017!!

[Adrian-x]

You know, it's not difficult to buy something with bitcoin and immediately replenish your stash by converting an equivalent amount from fiat to bitcoin.  If you're worried about spending your bitcoins.

+1, 'bitcoins are too valuable to spend' is bullshit.  If they are too valuable to spend, it means the current price is too low, thus market forces would drive it up and fix that problem.

Good! That settles it, no BS I'll offload @ $1598 then. My problem is mastering time, in reality it's an illusion but when it comes to Bitcoin it's dependent on market conciseness and that takes time. So yes they're too valuable to spend but I will sell a few to help it spread. It's a good thing value is a subjective judgment.

[ChartBuddy]

[Erdogan]

so if the price keeps rising, how would we ever use it as a real currency to buy stuff?
i'm pretty sure everybody who has them has them for buy and hold or making profit, not for purchasing goods - I certainly don't because in two months the price might have doubled, and I would curse myself for giving them away "back then" instead of using real currency.

Don't worry. There is a market with trades every minute. It means anybody can buy, anybody can sell whenever they want.

[Zangelbert Bingledack]

so if the price keeps rising, how would we ever use it as a real currency to buy stuff?
i'm pretty sure everybody who has them has them for buy and hold or making profit, not for purchasing goods - I certainly don't because in two months the price might have doubled, and I would curse myself for giving them away "back then" instead of using real currency.

The time for BTC to actually act as a real currency are still years away, this is the time of great volatility and opportunity for those of us who can see what the future of money is.

Exactly.

[Adrian-x]

so if the price keeps rising, how would we ever use it as a real currency to buy stuff?
i'm pretty sure everybody who has them has them for buy and hold or making profit, not for purchasing goods - I certainly don't because in two months the price might have doubled, and I would curse myself for giving them away "back then" instead of using real currency.

Don't worry. There is a market with trades every minute. It means anybody can buy, anybody can sell whenever they want.

This is how one gains an education. It is part of the Bitcoin growth cycle. Every one coming into Bitcoin can sell at a profit over 100% in time but it isn't so easy to get back in. While Bitcoin remains binary players will conform.

[Zangelbert Bingledack]

This fallacy that deflation means people won't spend is very persistent, even though briefly thinking it through demonstrates it isn't the case, at least not for very long. Deflation takes holders from (relatively) poor to wealthy. What do poor people do when they become wealthy? Keep living in their cheap apartment or car? Or BUY better stuff? They splurge. That is why bitcoin tips go up when the price rises and merchants do better when the price rises.

[adamstgBit]

This fallacy that deflation means people won't spend is very persistent, even though briefly thinking it through demonstrates it isn't the case, at least not for very long. Deflation takes holders from (relatively) poor to wealthy. What do poor people do when they become wealthy? Keep living in their cheap apartment or car? Or BUY better stuff? They splurge. That is why bitcoin tips go up when the price rises and merchants do better when the price rises.

poeple will do what i do, save some, buy some, buy stuff with some, invest with some, sell some for cash, wtv. and bitcoin with go to 1800  

truth is right now bitcoiners around the world a looking for a way to spend there bitcoins on things they need.

[DougTanner]

China's going higher (and Bitstamp), Gox hasn't reacted yet!

[molecular]

Using inflation to boost consumption is like using cocaine to boost work productivity.

That analogy hits the nail on the head.

[molecular]

You are forgetting an important dynamic: Interest rates. When consumption falls, savings rise and there are thus more money to be lent out. That means that the supply of money for loans rises and the price for loans fall which is the same as the interest rate falling. That means that it becomes more attractive to invest with borrowed money and this increases efficiency (if the investment is sound) which then increases the purchasing power and thus increases consumption. Yes. Capitalism is cool!

I didn't read the context, but this cool mechanism is being effectively anihilated by the feds easing.

[ChartBuddy]

[notme]

You are forgetting an important dynamic: Interest rates. When consumption falls, savings rise and there are thus more money to be lent out. That means that the supply of money for loans rises and the price for loans fall which is the same as the interest rate falling. That means that it becomes more attractive to invest with borrowed money and this increases efficiency (if the investment is sound) which then increases the purchasing power and thus increases consumption. Yes. Capitalism is cool!

I didn't read the context, but this cool mechanism is being effectively anihilated by the feds easing.

=> we do not have capitalism any longer in the United States.

[adamstgBit]

[adamstgBit]

Up UP UP!

[scarsbergholden]

im glad i have been all in for a while, but boy am i getting worried that this will reverse soon!

[gizmoh]

im glad i have been all in for a while, but boy am i getting worried that this will reverse soon!

Same, i'm looking at the depths. big ask walls ahead on both gox and stamp. Maybe a bigger correction is coming, if it doesn't go higher in the next 24hours, it will probably go down and shake weak hands.

[Walsoraj]

im glad i have been all in for a while, but boy am i getting worried that this will reverse soon!

Same, i'm looking at the depths. big ask walls ahead on both gox and stamp. Maybe a bigger correction is coming, if it doesn't go higher in the next 24hours, it will probably go down and shake weak hands.

All of the alts in the top 10 marketcap are taking a dive. http://coinmarketcap.com/

Does this typically precede a correction?

[scarsbergholden]

im glad i have been all in for a while, but boy am i getting worried that this will reverse soon!

Same, i'm looking at the depths. big ask walls ahead on both gox and stamp. Maybe a bigger correction is coming, if it doesn't go higher in the next 24hours, it will probably go down and shake weak hands.

All of the alts in the top 10 marketcap are taking a dive. http://coinmarketcap.com/

Does this typically precede a correction?

naw btc rises like this, all alts fall together.....

[Walsoraj]

im glad i have been all in for a while, but boy am i getting worried that this will reverse soon!

Same, i'm looking at the depths. big ask walls ahead on both gox and stamp. Maybe a bigger correction is coming, if it doesn't go higher in the next 24hours, it will probably go down and shake weak hands.

All of the alts in the top 10 marketcap are taking a dive. http://coinmarketcap.com/

Does this typically precede a correction?

naw btc rises like this, all alts fall together.....

Or are the alt pumpers getting ready to cashout their btc?