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

[Zephir]

An observation:

Last March/April, during the media coverage, my friends and family were interested in hearing about bitcoin, but not a single one took the next step and purchased any.  

But now, upon hearing about the recent run-up, three people in my network are making small purchases.  They are starting to believe there's really something to it.  

So, its a bubble?

What would make you think that?

When people start buying in to something because the price is going up, to me.. that sounds like a bubble scenario.

I think people are seeing the value of their fiat going down. I think they are just trying to get rid of that soon to worthless fiat and see BTC as safe.

That seems pretty crazy and unlikely to me, considering BTC's volatility and specifically, the bubble and subsequent pop 6 months ago. I also don't think the average person views their fiat as "soon to be worthless". That's a bit extreme.

The average person loves their fiat, has a high degree of confidence in 'cold hard cash' as a safe haven, and thinks that anything else is probably a scam.

When you tell someone about btc it's like initiating them out of the matrix.

Like you said, the "average person" loves their FIAT.
No "smart person" in history has ever kept his FIAT, he converted it as fast as he can into something different, like commodities, realities,etc. something with a real value.

[mah87]

READY FOR THE NEXT BUBBLE CRASH ??

I predict it will happen whan the price touche 280-300$!

[ardana123]

touche? you french or something?

ah oui you touche my tralala

[MoreFun]

touche? you french or something?

ah oui you touche my tralala

Are you frozen***** or why you have his picture?

[seldon]

READY FOR THE NEXT BUBBLE CRASH ??

I predict it will happen whan the price touche 280-300$!

Crashing from below ath would be lame ..
Imho since we are still having these minor shakeoffs not causing panic we should be good for some more.

[DougTanner]

Not as exciting a night? It's hard to tell because my graph is missing data. Gox is up though, but the other exchanges are doing some consolidation.

Time for the correction?

[ardana123]

Google trends image. What exactly is fueling this rally? This tells me it's old money doing the same all over.

[DougTanner]

Google trends image. What exactly is fueling this rally? This tells me it's old money doing the same all over.

It's similar to the $15 -> $30 run-up last time, just consistent and plentiful good news causing people with an existing interest in Bitcoin to buy in (possibly who learned about it in the last bubble but didn't buy). The media frenzy didn't start at full throttle until we busted through the all-time high.

[gandhibt]

The fuel comes from CHINA!!! How hard is this to understand?

[MoreFun]

The fuel comes from CHINA!!! How hard is this to understand?

To their exchanges or also to western ones?

[prophetx]

The fuel comes from CHINA!!! How hard is this to understand?

how much fuel is left?

[gandhibt]

Chinese people buy in chinese exchanges and then western people who are already familiar with the bitcoin buy in example bitstamp. Normal western people are not yet interested (google trends) but when we break ATH they will be and then everybody just BUY BUY BUY =D

[ardana123]

Chinese people buy in chinese exchanges and then western people who are already familiar with the bitcoin buy in example bitstamp. Normal western people are not yet interested (google trends) but when we break ATH they will be and then everybody just BUY BUY BUY =D

It's also possible everyone who wanted to learn about bitcoin already did that back in april, and when it does hit the media those people will be like "meh, again? I'm not falling for this again!".

[gandhibt]

Chinese people buy in chinese exchanges and then western people who are already familiar with the bitcoin buy in example bitstamp. Normal western people are not yet interested (google trends) but when we break ATH they will be and then everybody just BUY BUY BUY =D

It's also possible everyone who wanted to learn about bitcoin already did that back in april, and when it does hit the media those people will be like "meh, again? I'm not falling for this again!".

Those people buy when we break $500 and then they sell at the next correction bottom.

[dan99]

Those big Whales will start dumping at certain price point you never know, may well be a collaboration between the big players from the east and west.

[prophetx]

Chinese people buy in chinese exchanges and then western people who are already familiar with the bitcoin buy in example bitstamp. Normal western people are not yet interested (google trends) but when we break ATH they will be and then everybody just BUY BUY BUY =D

It's also possible everyone who wanted to learn about bitcoin already did that back in april, and when it does hit the media those people will be like "meh, again? I'm not falling for this again!".

Those people buy when we break $500 and then they sell at the next correction bottom.

this ... is exactly why most people will not touch bitcoin with a 10 foot pole... only a few suckers will do this, and btc will get a bad reputation- it is actually pretty bad already among the normal people...

ask anyone who is a CFO or accountant if they think any large business would want to use a currency that fluctuates by 50% in any given week, and has an ultra thin market.

[maz]

Chinese people buy in chinese exchanges and then western people who are already familiar with the bitcoin buy in example bitstamp. Normal western people are not yet interested (google trends) but when we break ATH they will be and then everybody just BUY BUY BUY =D

It's also possible everyone who wanted to learn about bitcoin already did that back in april, and when it does hit the media those people will be like "meh, again? I'm not falling for this again!".

Those people buy when we break $500 and then they sell at the next correction bottom.

this ... is exactly why most people will not touch bitcoin with a 10 foot pole... only a few suckers will do this, and btc will get a bad reputation- it is actually pretty bad already among the normal people...

ask anyone who is a CFO or accountant if they think any large business would want to use a currency that fluctuates by 50% in any given week, and has an ultra thin market.

Very true.

[ardana123]

Chinese people buy in chinese exchanges and then western people who are already familiar with the bitcoin buy in example bitstamp. Normal western people are not yet interested (google trends) but when we break ATH they will be and then everybody just BUY BUY BUY =D

It's also possible everyone who wanted to learn about bitcoin already did that back in april, and when it does hit the media those people will be like "meh, again? I'm not falling for this again!".

Those people buy when we break $500 and then they sell at the next correction bottom.

this ... is exactly why most people will not touch bitcoin with a 10 foot pole... only a few suckers will do this, and btc will get a bad reputation- it is actually pretty bad already among the normal people...

ask anyone who is a CFO or accountant if they think any large business would want to use a currency that fluctuates by 50% in any given week, and has an ultra thin market.

Now you're hitting an entirely different subject with that last remark. I'm saying the bitcoin community underestimates how many people actually know about bitcoin. I think everyone who matters (people interested in technology, IT people, general investors,...) already learned about bitcoin back in april. Never mind the regular mom and pop investors, they wouldn't touch this with a 10 foot pole as this is an investment that lies outside of the banking scheme. For the regular mom and pop investors to come in, something truly revolutionary (or cataclysmic like a US default that has people searching for a safe haven) needs to happen. Another thing, look at the possibilities one has to invest in bitcoin. One needs to transfer money to an unregulated bitcoin exchange like Bitstamp or Gox. No way regular mom and pop investors would do that. But that's long term talk. Short term we need to look at companies and people like us (technofreaks) endorsing bitcoin.

[prophetx]

Chinese people buy in chinese exchanges and then western people who are already familiar with the bitcoin buy in example bitstamp. Normal western people are not yet interested (google trends) but when we break ATH they will be and then everybody just BUY BUY BUY =D

It's also possible everyone who wanted to learn about bitcoin already did that back in april, and when it does hit the media those people will be like "meh, again? I'm not falling for this again!".

Those people buy when we break $500 and then they sell at the next correction bottom.

this ... is exactly why most people will not touch bitcoin with a 10 foot pole... only a few suckers will do this, and btc will get a bad reputation- it is actually pretty bad already among the normal people...

ask anyone who is a CFO or accountant if they think any large business would want to use a currency that fluctuates by 50% in any given week, and has an ultra thin market.

Now you're hitting an entirely different subject with that last remark. I'm saying the bitcoin community underestimates how many people actually know about bitcoin. I think everyone who matters (people interested in technology, IT people, general investors,...) already learned about bitcoin back in april. Never mind the regular mom and pop investors, they wouldn't touch this with a 10 foot pole as this is an investment that lies outside of the banking scheme. For the regular mom and pop investors to come in, something truly revolutionary (or cataclysmic like a US default that has people searching for a safe haven) needs to happen. Another thing, look at the possibilities one has to invest in bitcoin. One needs to transfer money to an unregulated bitcoin exchange like Bitstamp or Gox. No way regular mom and pop investors would do that. But that's long term talk. Short term we need to look at companies and people like us (technofreaks) endorsing bitcoin.

read the first sentence of the first 2 paragraphs  of satoshi's wp:

"Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments"

"What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party"

Is btc used for commerce on the Internet?

Where in the wp does it say we need a trustless asset class to invest in?


good to go back to the roots sometimes... for a reminder of why this even exists.

[tutkarz]

Chinese people buy in chinese exchanges and then western people who are already familiar with the bitcoin buy in example bitstamp. Normal western people are not yet interested (google trends) but when we break ATH they will be and then everybody just BUY BUY BUY =D

It's also possible everyone who wanted to learn about bitcoin already did that back in april, and when it does hit the media those people will be like "meh, again? I'm not falling for this again!".

Those people buy when we break $500 and then they sell at the next correction bottom.

this ... is exactly why most people will not touch bitcoin with a 10 foot pole... only a few suckers will do this, and btc will get a bad reputation- it is actually pretty bad already among the normal people...

ask anyone who is a CFO or accountant if they think any large business would want to use a currency that fluctuates by 50% in any given week, and has an ultra thin market.

when people will realize that increase in bitcoin price was not a bubble but normal market fluctuations, they will come back, especially when banks will introduce new limitations or fees for their services. Not to mention bail ins and outs.

As for the second sentence, you didn't expected new currency to be introduced with full market first day of it's existence?