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

[bclcjunkie]

Blitz wouldn't you agree? we have more frenzy and far better buy support then pre-April? or you're still hoping for double digits? 

it's just so different [than pre-april bubble!]

Here we go again.

[1714677504]

1714677504

[1714677504]

1714677504

[N12]

Oh, i just noticed your profile pic. Well played.

[Sitarow]

Hi guys.  I've been trying to avoid the spec forum, but I decided to break down and jump back in to say "hi".  I'm pretty optimistic about bitcoin, but this move is surprising.

THE Bear is BACK! I don't know what to do anymore... ABANDON SHIP!

Historically, my ridiculous bearishness has cost me.  Just ask adam.

Your not alone. BFL

[N12]

I'm of the opinion that the time elapsed between each bubble will be shorter and shorter, each will be more 'violent' and price will go up/down more drastically until we reach the 'climax' or real price discovery.

Ah yes, economic singularity. I remember how that went: http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

Thus, in another 2.5 years, there will be somewhere between 10^8 and 10^10 users. Since there aren’t even 10^10 people on the planet, we may estimate that adoption will be ubiquitous in approximately three years.

[Sitarow]

I was kidding, it was a nod to proudhon.

I'm of the opinion that next bear market will be the most devastating and the longest one so far (worse than 2011) because everyone is caught up in the belief that if only they hold long enough, they cannot possibly lose out on BTC, no matter their entry price. Every dip is a buying opportunity etc.

Furthermore, the current bubble developed very quickly after only 7 months between former alltime high. So, it's a bubble on top of a bubble in the same year.

We can talk about that once we actually top out. So far, we haven't even doubled from the 266 high.

I'm of the opinion that the time elapsed between each bubble will be shorter and shorter, each will be more 'violent' and price will go up/down more drastically until we reach the 'climax' or real price discovery. Then after that more bubbles will come, but the price will increase less and less each time, and time will be longer.

We are far away for the 'climax', i think at least two more bubbles are needed.

Just my 2shatoshis  

What the trading floor needs is many high volume traders that can be market movers. In other words buy up coin as its being dumped and sell coin as its being purchased just to stabilize the price.

When big money enters the trade floor expect things to simmer down plenty.

Question is when. Perhaps +$1000 ? Who knows.

[ChartBuddy]

[N12]

Yeah, let's look at it again in 3 years.

[gandhibt]

Bubbles will pop higher and higher but % drops will be smaller and smaller.

[TheKoziTwo]

Just curious Blitz, since you said there would be no more triple digits in 2013. Did you follow your own advice?

[Richy_T]

Clearly, anyone who knows anything about a singularity knows that Bitcoin is not one. But it is either worth nothing or quite a lot. If it's worth quite a lot, it will have to rise to get there. That in itself is a recipe for irrational exuberance and bubbles and busts. But there will be an underlying rise.

Your assertion that this bust will be so much worse than the others is just a different take on "It's different this time" and is more an expression of your bearish nature than reflecting anything real.

[haightst]

I was kidding, it was a nod to proudhon.

I'm of the opinion that next bear market will be the most devastating and the longest one so far (worse than 2011) because everyone is caught up in the belief that if only they hold long enough, they cannot possibly lose out on BTC, no matter their entry price. Every dip is a buying opportunity etc.

Furthermore, the current bubble developed very quickly after only 7 months between former alltime high. So, it's a bubble on top of a bubble in the same year.

We can talk about that once we actually top out. So far, we haven't even doubled from the 266 high.

I'm of the opinion that the time elapsed between each bubble will be shorter and shorter, each will be more 'violent' and price will go up/down more drastically until we reach the 'climax' or real price discovery. Then after that more bubbles will come, but the price will increase less and less each time, and time will be longer.

We are far away for the 'climax', i think at least two more bubbles are needed.

Just my 2shatoshis  

What the trading floor needs is many high volume traders that can be market movers. In other words buy up coin as its being dumped and sell coin as its being purchased just to stabilize the price.

When big money enters the trade floor expect things to simmer down plenty.

Question is when. Perhaps +$1000 ? Who knows.

 BTC POP TO 500!!!====> me and da Malta camp know!  

[N12]

Just curious Blitz, since you said there would be no more triple digits in 2013. Did you follow your own advice?

I don't short BTC, and when I turn out wrong, I adapt, as any other decent speculator.

[BitchicksHusband]

took a little longer then 8 hours but btc china reached its ath  

now the question becomes "Will bitcoin Double its previous ATH?"

No time frame?

when no time frame is presented assume i'm talking short term (1 - 30days), this poll will change every few days.

There was no timeframe, so I said Yes.  Didn't seem like a hard question.

[oakpacific]

I was kidding, it was a nod to proudhon.

I'm of the opinion that next bear market will be the most devastating and the longest one so far (worse than 2011) because everyone is caught up in the belief that if only they hold long enough, they cannot possibly lose out on BTC, no matter their entry price. Every dip is a buying opportunity etc.

Furthermore, the current bubble developed very quickly after only 7 months between former alltime high. So, it's a bubble on top of a bubble in the same year.

We can talk about that once we actually top out. So far, we haven't even doubled from the 266 high.

There are only so many bitcoins for sale, and  not every is caught up in the same belief.

The first guy to dump, for example, would have a different opinion.

In fact, that's what happened this April.

[haightst]

KILLER!!!!   $357!!!!/\booommmm

http://bitcoin.clarkmoody.com/

http://4.bp.blogspot.com/-Jq6HYuNHwSk/UHG_DMwKcGI/AAAAAAAAAdg/RPkYQP2hJww/s640/Niji357-04.jpg

[Rampion]

I was kidding, it was a nod to proudhon.

I'm of the opinion that next bear market will be the most devastating and the longest one so far (worse than 2011) because everyone is caught up in the belief that if only they hold long enough, they cannot possibly lose out on BTC, no matter their entry price. Every dip is a buying opportunity etc.

Furthermore, the current bubble developed very quickly after only 7 months between former alltime high. So, it's a bubble on top of a bubble in the same year.

We can talk about that once we actually top out. So far, we haven't even doubled from the 266 high.

I'm of the opinion that the time elapsed between each bubble will be shorter and shorter, each will be more 'violent' and price will go up/down more drastically until we reach the 'climax' or real price discovery. Then after that more bubbles will come, but the price will increase less and less each time, and time will be longer.

We are far away for the 'climax', i think at least two more bubbles are needed.

Just my 2shatoshis  

The truth is that bubble 1 was more violent than bubble 2, (we went up x16, from 2 to 32), so I'd expect bubble 3 to be less violent than bubble 2 and 1.

Regarding singularity, is a beautiful *theoric* concept, but its painfully clear to me that nor the protocol nor the infrastructure can scale to accomodate such a "singularity", and thus I consider it pretty much of a fairy tale.

Anyhow, I will be obviously happy if it happens

[DougTanner]

Here we go again.

[thezerg]

So, one question: for how many in here buying BTC has been the best financial decision EVER??

My wife bought when the price was £7.80. She spent £5k and bought 641 coins, worth about £130k or so now.
This was probably the 2nd best decision she ever made (after answering "I do")

I have bought a small number of coins from time to time, but my 2nd best decision ever was to buy a bunch of 5870s back in January 2001.

No man, her best decision was buying BTC, YOURS was marrying her!  

[Spaceman_Spiff]

My wife bought when the price was £7.80. She spent £5k and bought 641 coins, worth about £130k or so now.
This was probably the 2nd best decision she ever made (after answering "I do")
I have bought a small number of coins from time to time, but my 2nd best decision ever was to buy a bunch of 5870s back in January 2001.

No man, her best decision was buying BTC, YOURS was marrying her!  

[N12]

I do see the possibility that my perception of Bitcoin is warped in so far as I've been watching it for a while, and during this watching it's cenceivable that I have seen an unlikely series of infrastructural failures, hacks, scams, crashes that I see the threat of longer-term Bitcoin devaluation perhaps more real than if I had joined just now. For about the first year, I was very much in the same mindset as the giddy newbies today.

However, I am not willing to bet on it.