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

[gandhibt]

To be perfectly honest I'm fairly sure a simple trend/momentum strategy will work better here than any of this fibo/elliot shiz.

This. Think your strategy, backtest it and then if its good, trade it. Don't try to predict, try to adapt.

[haightst]

To be perfectly honest I'm fairly sure a simple trend/momentum strategy will work better here than any of this fibo/elliot shiz.

This. Think your strategy, backtest it and then if its good, trade it. Don't try to predict, try to adapt.

~don't "TRY"! ../\just make it happen!  

[ChartBuddy]

[Rupture]

I think the price might actually climb after the senate meeting

[ablewasiereisawelba]

I think the price might actually climb after the senate meeting

I was thinking this, but now that so many people think it, I'm starting to doubt it.

[MikeH]

might as well ask on here: how do you verify (?pgp key) that the bitcoin qt is legit from bitcoin.org ?

http://bitcoin.org/en/download

mmm, it must be such a turn off for people starting out when they start with a client that uses the full block chain.

[exstasie]

I think the price might actually climb after the senate meeting

I was thinking this, but now that so many people think it, I'm starting to doubt it.

I think it might increase as well.  Maybe a lot of new investors will find out more, or do some more research after the senate meeting.  As they say, there is no such thing as bad publicity. 

[ChartBuddy]

[arklan]

Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he  acknowledged it couldn't be shut down, just outlawed.

Who else is ok with bitcoin being "just" an underground thing, eh?  

[Love_and_Squalor]

Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he  acknowledged it couldn't be shut down, just outlawed.

Who else is ok with bitcoin being "just" an underground thing, eh?  

if thats the case say goodbye to exponential growth. we'd see no new money and have people leave altogether. I would. The main reason i like bitcoin is due to its growth potential. Its cool it can be used to buy drugs anonymously(kind of) and it could still retain that use, but the demand for it would plummet and as a basic economic principle price would follow

[bclcjunkie]

i'd ignore that thought if the guy was some average joe, i'd rather take things more seriously if this came from a guy who was some ex-cia, financial elite: a kind of profession that gives them firsthand gov insider info... besides bitcoin adoption is spreading geographically and it's no longer tied to US demand only, so frankly i don't see dark days for bitcoin ahead...

Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he  acknowledged it couldn't be shut down, just outlawed.

Who else is ok with bitcoin being "just" an underground thing, eh?  

[arklan]

Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he  acknowledged it couldn't be shut down, just outlawed.

Who else is ok with bitcoin being "just" an underground thing, eh?  

if thats the case say goodbye to exponential growth. we'd see no new money and have people leave altogether. I would. The main reason i like bitcoin is due to its growth potential. Its cool it can be used to buy drugs anonymously(kind of) and it could still retain that use, but the demand for it would plummet and as a basic economic principle price would follow

Oh, completely true. It would certainly never reach the 100k level or such. But there's a lot of head room, in theory, between here and there. Or I'm delusional and outlawing would be a death knell.

Also, nah, he was a techy type, not financial or government.

[Beta-coiner1]

Wow,another ATH on Gox....and I thought that wouldn't be for the weekend.

[nanobrain]

Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he  acknowledged it couldn't be shut down, just outlawed.

Who else is ok with bitcoin being "just" an underground thing, eh?  

I tend to agree with him.  

As much as I would like to see crypto be the catalyst for a new, fairer economic system I think the 'fiat is dead' crowd is somewhat deluded.  Power traditionally comes from the point of a knife/barrel of a gun and the idea that govts will just let their economic authority be undermined flies in the face of human history.  

Of course, what has happened in Germany, with BTC adoption there, is a counter for this argument.  

It will boil down to "what's in it for us" and "can we control it".  If the current global hegemony can continue their control, they will let the masses use fava beans for currency for all they care.

[ChartBuddy]

[arklan]

Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he  acknowledged it couldn't be shut down, just outlawed.

Who else is ok with bitcoin being "just" an underground thing, eh?  

I tend to agree with him.  

As much as I would like to see crypto be the catalyst for a new, fairer economic system I think the 'fiat is dead' crowd is somewhat deluded.  Power traditionally comes from the point of a knife/barrel of a gun and the idea that govts will just let their economic authority be undermined flies in the face of human history.  

Of course, what has happened in Germany, with BTC adoption there, is a counter for this argument.  

It will boil down to "what's in it for us" and "can we control it".  If the current global hegemony can continue their control, they will let the masses use fava beans for currency for all they care.

Well said. I hope we can have a nice chianti with our deva beans. I altho hope I spelled that right.

[Vycid]

Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he  acknowledged it couldn't be shut down, just outlawed.

Who else is ok with bitcoin being "just" an underground thing, eh?  

I tend to agree with him.  

As much as I would like to see crypto be the catalyst for a new, fairer economic system I think the 'fiat is dead' crowd is somewhat deluded.  Power traditionally comes from the point of a knife/barrel of a gun and the idea that govts will just let their economic authority be undermined flies in the face of human history.  

Of course, what has happened in Germany, with BTC adoption there, is a counter for this argument.  

It will boil down to "what's in it for us" and "can we control it".  If the current global hegemony can continue their control, they will let the masses use fava beans for currency for all they care.

I think it's an issue of political capital. The government won't be interested in fighting crypto unless they're convinced the "harm it will bring" exceeds the difficulty of cracking down on it, AND that they can convince the general public that it is indeed worth fighting.

Theoretically an autocratic government shouldn't like a free internet, but that's been broadly permitted. Arguments against it are very weak in what is at least supposed to be a free society.

As long as Bitcoin moderates its appearance, it can be a powerful tool toward decentralization of money. It doesn't attack the existing system; it creates a new one. It is much harder for government "reprisals" to appear justified if there is no violation of the standing rules.

[vps15]

not even 5000 coins till 500, can we please start tonights panic buying to get these last coins "cheap"

ps lol at anyone who still believes in the weekend downtime/ crash

[Vycid]

not even 5000 coins till 500, can we please start tonights panic buying to get these last coins "cheap"

"only 5000" coins means roughly 2.5M these days, so let's manage expectations.

[Love_and_Squalor]

Just had an interesting discussion about bitcoin with a guy I just met. Fascinating. He's well versed and seems to get it fully, yet thinks governments won't allow it. No "oh, you out smarted us!" or such. He may be right. Yet he  acknowledged it couldn't be shut down, just outlawed.

Who else is ok with bitcoin being "just" an underground thing, eh?  

if thats the case say goodbye to exponential growth. we'd see no new money and have people leave altogether. I would. The main reason i like bitcoin is due to its growth potential. Its cool it can be used to buy drugs anonymously(kind of) and it could still retain that use, but the demand for it would plummet and as a basic economic principle price would follow

Oh, completely true. It would certainly never reach the 100k level or such. But there's a lot of head room, in theory, between here and there. Or I'm delusional and outlawing would be a death knell.

Also, nah, he was a techy type, not financial or government.

i wish i knew more about bitcoins demographic, and who is capable in moving the market the most. I've dabbled in the forex market, and learned that the big financial institutions are the major market movers.not the average trader. So i wonder if the early bitcoin adopters have the most power as they probably have the most btc. I wonder who the average speculator is. I wonder how many wallstreet types are invested in bitcoin, if any are in the first place. Because that is what i think is key to large growth. and that kind of investor wont give a damn about bitcoins regulation and might even be more comfortable with a more regulated crypto. once/if wallstreet types start to buy up most of the crypto we should see really good growth

i am fairly confident the govt wont outlaw btc outright. They might introduce new regulation, but we've already seen this as exchanges now have KYC-AML  policies. i think this hearing is just talk for now. besides it would probably take a few years to write new legislation and have it go into effect.