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

[NamelessOne]

Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.

“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee.

Whoa. Nice.

Federal reserve has nothing to do with regulation of anything other than the printing presses, bond rates against those presses and interest rates...

Which is exactly what Bernanke states in that quote, yet his presence as 'the money guy' referring to bitcoin as innovation rather than 'terrorist threat that must be crushed!' provides a dose of sanity. We'll see how it goes tomorrow.

[Sitarow]

http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html
bullish?

Code:

Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.

“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, 
it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,”
Bernanke wrote in a letter to the committee.

Edit: already quoted

[FTWbitcoinFTW]

[freebird]

http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html
bullish?

Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.
“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee.

Here's another quote from the article:

“The FBI’s approach to virtual currencies is guided by a recognition that online payment systems, both centralized and decentralized, offer legitimate financial services,” Peter Kadzik, principal deputy assistant attorney general, wrote in a letter. “Like any financial service, virtual currency system of either type can be exploited by malicious actors, but centralized and decentralized online payment systems can vary significantly in the types and degrees of illicit financial risk they pose.”

I'd say these statements are quite bullish. It appears the "establishment" is okay with bitcoin. Presumably this means the rich and powerful are buying in. Once that happens, it will be unstoppable, because the powers that be always ensure that the VIPs of society don't get screwed on their investments (as much as I hate the fact that this is true, it is).

[bassclef]

Someone said Bitcoin is like The Blob. Punch it and it assimilates you.

[CryptStorm]

http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html
bullish?

Definitely +1, very bullish, indeed. Great catch! 

[Sitarow]

Nice photoshop

[seleme]

http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html
bullish?

Definitely.

Looks like some insiders knew this whole day.

[Vycid]

Aaaaand we're hitting fever pitch, I'm selling some.

[BitchicksHusband]

http://www.bloomberg.com/news/2013-11-18/u-s-agencies-to-say-bitcoins-offer-legitimate-benefits.html
bullish?

Definitely.

Looks like some insiders knew this whole day.

The same article from Wired has been in the press section since Friday.

[Le Happy Merchant]

[ChartBuddy]

[Sitarow]

[nanobrain]

Is ANYBODY noticing the similarity between this and the pre-correction a week ago?

Its almost identical right now.

~you still don't know about "the secret" ? LOL  

The secret is we are going to correct hard south soon. If it gets to 3600+ on BtcChina its going to be an instant reply of 8 days ago.

We are getting into the 'stopped clock' realm - a correction has been due but every day it fails to happen.
At some point someone will call it right - personally I don't think 3600 is going to be a trigger, more likely 4000.

Yes, but I'm not trying to call it right. It's just so freaking obvious right now. China is now leading Stamp by $76 just like last time. Gox and Stamp can't keep up. The 15 minutes chart is a vertical wall just like 8/9 days ago.  We are looking at a 500-600 point move up in less than 5 hours on BtcChina.  Everything is screaming correction. Maybe it goes higher this time, because % wise its not the same, but man, this is EXACTLY the same.

Absolutely agree.

But this is BTC...when did it ever make sense

I have to go out for a few hours, so you can guarantee it will correct then, lol.

Well, I came back and not only did we have a wee correction but it's climbed back..lol

Hats off to windjc though...you called 3600 as a trigger point

[theonewhowaskazu]

For the poll, what's few??

Like, few = 4, or 8, or 16?

I can totally see $1000 before 16 weeks pass, but I doubt itll occur within 3-4 or anything.

[Davyd05]

For the poll, what's few??

Like, few = 4, or 8, or 16?

I can totally see $1000 before 16 weeks pass, but I doubt itll occur within 3-4 or anything.

I'd hope so.. I want to get more money into bitcoins...kicking myself for putting too little in during Oct.

The same logic applied in my mind when I thought 1000 in June, at the rate were going I think 1000 is obtainable by the 22nd.. 86 dollars rise daily would achieve this.. Which I believe would still be a shrinking % of growth.

[ChartBuddy]

[adamstgBit]

For the poll, what's few??

Like, few = 4, or 8, or 16?

I can totally see $1000 before 16 weeks pass, but I doubt itll occur within 3-4 or anything.

idk  2-6

i think it will happen next week

[nanobrain]

World has gone crypto crazy!!

BTC touching 3600CNY again

LTC up 10% on BTCe

Great entertainment

[Davyd05]

World has gone crypto crazy!!

BTC touching 3600CNY again

LTC up 10% on BTCe

Great entertainment

I was thinking of getting some ltc as well, recently.

I think we see 600/BTC before 6am if not at 6am est.