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

[jojo69]

It's important to reconcile the scopes of perception here, considering that most of these scopes cannot see the other:

a) We are literally sitting staring at the screen, waiting, chatting while we *decide* if the charts are about to consolidate, go bullish, go bearish, hit the moon, etc. This *is*, we *are* the pulse of the btc speculation ecosphere. We are standing in the boiler room watching the machine pump heat--  because we can see it's working just fine, sometimes it's hard to believe that it's too warm or cold upstairs. Classic myopia.

b) We have no idea, for the most part, what the Chinese are doing, in terms of sentiment, other that heavily buying in steadily. They are likely speculators and folks just like us, who see the newest, shiniest thing, or realize the coming value of a mature crypto account register.

c) Many of us have friends who are newly interested in Bitcoin, they are approaching us, actually listening to the conversation about cryptos. These people were afraid we'd pass out tinfoil hats at last Thanksgiving (some of us have done so forever, such is the nature of visionary (ahem, nuts)).

d) The upcoming Senate hearing (on the 18th), VC's throwing money to startups that we haven't even really begun to see the product of (Kraken, Coinsetter...), Forbes articles and in general continually more positive news spin and coverage. The proletariate will be what they have always been, the peeps.

e) The googly trends chart... oh, what correlation it carries is astounding. If there ever was a cogent point for 'don't read into it too much' it's this chart (albeit it's a trailing one, sadly :-/).

f) Bitcoin is hugely successful in any context. We know that, but it will be all the more obvious in 20 years. Yeah, duh, the internet and money had a bastard child. Why wouldn't it rock the casbah. So, stepping away from the cliff, we should take some pride in being involved, and be humbled to see a change for the good, away from manipulable capital that seeks nothing but further vampiric reduction of liberty, while enforcing a crippling cancerous consumption mantra. What was great for industrialization is now going the way of the dodo--> P2P kills centralization.

g) Asset, commodity, currency, protocol or whatever, it will adhere to price discovery if easily exchanged. Playas gonna play, haterz gonna hatez.

Conclusion: rpitella's (sp?) chart is really pretty good, so far, until it's not. We're going up too fast (for the last hot 10 seconds), so if trading's what you like, there will be a chance to increase your BTC count. Long term, to the moon. Peace out folks, and don't forget to set your bitcoinreminders (.com).

post of the day, you will fit in just fine CryptoStorm

[CryptStorm]

It's important to reconcile the scopes of perception here, considering that most of these scopes cannot see the other:

a) We are literally sitting staring at the screen, waiting, chatting while we *decide* if the charts are about to consolidate, go bullish, go bearish, hit the moon, etc. This *is*, we *are* the pulse of the btc speculation ecosphere. We are standing in the boiler room watching the machine pump heat--  because we can see it's working just fine, sometimes it's hard to believe that it's too warm or cold upstairs. Classic myopia.

b) We have no idea, for the most part, what the Chinese are doing, in terms of sentiment, other that heavily buying in steadily. They are likely speculators and folks just like us, who see the newest, shiniest thing, or realize the coming value of a mature crypto account register.

c) Many of us have friends who are newly interested in Bitcoin, they are approaching us, actually listening to the conversation about cryptos. These people were afraid we'd pass out tinfoil hats at last Thanksgiving (some of us have done so forever, such is the nature of visionary (ahem, nuts)).

d) The upcoming Senate hearing (on the 18th), VC's throwing money to startups that we haven't even really begun to see the product of (Kraken, Coinsetter...), Forbes articles and in general continually more positive news spin and coverage. The proletariate will be what they have always been, the peeps.

e) The googly trends chart... oh, what correlation it carries is astounding. If there ever was a cogent point for 'don't read into it too much' it's this chart (albeit it's a trailing one, sadly :-/).

f) Bitcoin is hugely successful in any context. We know that, but it will be all the more obvious in 20 years. Yeah, duh, the internet and money had a bastard child. Why wouldn't it rock the casbah. So, stepping away from the cliff, we should take some pride in being involved, and be humbled to see a change for the good, away from manipulable capital that seeks nothing but further vampiric reduction of liberty, while enforcing a crippling cancerous consumption mantra. What was great for industrialization is now going the way of the dodo--> P2P kills centralization.

g) Asset, commodity, currency, protocol or whatever, it will adhere to price discovery if easily exchanged. Playas gonna play, haterz gonna hatez.

Conclusion: rpitella's (sp?) chart is really pretty good, so far, until it's not. We're going up too fast (for the last hot 10 seconds), so if trading's what you like, there will be a chance to increase your BTC count. Long term, to the moon. Peace out folks, and don't forget to set your bitcoinreminders (.com).

post of the day, you will fit in just fine CryptoStorm

Hey, thanks for the kind words jojo!    I should have joined in months ago (lurker tendancies), honestly, there's just so much information to parse.   

[SheHadMANHands]

I'm looking forward to when we hit $10k/btc.  So glad I took those loans out.

[CMMPro]

Range is tightening up....higher lows each time we test the upper limit.

If I had to predict I'd say we are in for more upwards movement when China wakes up.

Edit: Just shy of oversold on the 1 hour chart as well....

[CryptStorm]

I'm looking forward to when we hit $10k/btc.  So glad I took those loans out.

Fine form, sir.

[ablewasiereisawelba]

Why do people assume that this is going to be another march/April style 800% bubble? You are forgetting that back then the time in between the last ATH of $32 was an entire 2 years of consolidation. This time it was only 6 months. Were likely to see a 2012 style increase instead.

Sorry to quote several pages back, but you should look at a graph.

This may not be the April bubble, but it is definitely not standard fare for 2012. We've gone up 300% in what, a couple weeks?

[ChartBuddy]

[MikeH]

I hate banks, they want to charge me a $25 fee to investigate why I was charged an extra $50 in fees over the expected 5% + $40 with my international wire to an exchange.

edit: sorry off topic but I don't read any other threads :]

[adamstgBit]

I hate banks, they want to charge me a $25 fee to investigate why I was charged an extra $50 in fees over the expected 5% + $40 with my international wire to an exchange.

edit: sorry off topic but I don't read any other threads :]

they are charging you extra because you paid extra ahahahaha that so dumb!

[BitAddict]

I hate banks, they want to charge me a $25 fee to investigate why I was charged an extra $50 in fees over the expected 5% + $40 with my international wire to an exchange.

edit: sorry off topic but I don't read any other threads :]

they are charging you extra because you paid extra ahahahaha that so dumb!

Bank: 5% fee + $40.
Bitcoin: Free

OMG!

Still lot of people tell bitcoins is a bubble....  

[Erdogan]

What law in what country says that someone wholly or partly has to use bitcoin?

It's obvious you misunderstand the full definition of "fiat".  Fiat can be a government issued currency but it also is defined as a currency with no intrinsic value.  Bitcoin, like USD, only has value because we agree that it does.  Thus Bitcoin is simply another form of fiat currency.  Bitcoin though, is not debt based.  So thats good.

With word relativism, anything is possible.

[jojo69]

I hate banks, they want to charge me a $25 fee to investigate why I was charged an extra $50 in fees over the expected 5% + $40 with my international wire to an exchange.

edit: sorry off topic but I don't read any other threads :]

yep, that sounds like a bank

[Nightowlace]

When this thread reaches 10,000 pages bitcoin will self destruct.

[adamstgBit]

I LOVE CAvirtex

I had a problem, ( the wife trashed the tablet, and lost my 2nd factor )

these guys know how to run a bitcoin exchange!

BUY BUY BUY

[haightst]

I LOVE CAvirtex

I had a problem, ( the wife trashed the tablet, and lost my 2nd factor )

these guys know how to run a bitcoin exchange!

BUY BUY BUY

pour on the rocket fuel this this is ready to fly!   /\$BTC 10K ? hmmm

[jojo69]

the wife trashed the tablet

how?

[Rupture]

500 by next week

[adamstgBit]

I LOVE CAvirtex

I had a problem, ( the wife trashed the tablet, and lost my 2nd factor )

these guys know how to run a bitcoin exchange!

BUY BUY BUY

You let your wife touch something you need for btc?

yes she plays alot on the tablet
don't worry she will never get the bitcoins! i made sure of that  

lol

[adamstgBit]

500 by next week

i think 500 tomorrow

[gambitv]

...
don't worry she will never get the bitcoins! i made sure of that  

lol

This brings up an interesting point. What will the courts say when a divorce involves a substantial horde of bitcoins.

Be interesting test case, anyone want to volunteer?

EDIT: Reading the last few pages tells me the night had very little action, as all I see is a drawn out conversation over a word, and welcoming a new member.