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

[haightst]

From bloomberg:

"The Department of Justice and Securities and Exchange Commission are telling a U.S. Senate committee that Bitcoins are legitimate financial instruments, boosting prospects for wider acceptance of the virtual currency.
Representatives from the agencies told the U.S. Senate Committee on Homeland Security and Governmental Affairs ahead of a hearing today that the digital money offers benefits and carries risks, like any other online-payment system, according to letters they released before the meeting."

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

As ridiculously high (and ridiculously fast as we got there), this is astoundingly good news. If the US Government gives Bitcoin a go ahead, we can bump up our mass adoption plans.

Depends a bit on how industry-killing the regulations are or not.

THE INDUSTRY? ROTFLMFAO!!!

((((((((((((((((((((vvvvvvv----*click*----vvvvvvvv)))))))))))))))))))))))
http://f0.bcbits.com/img/a1651541193_10.jpg

[molecular]

Are the noobs selling on news?

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

lol

Maybe people are starting to believe the exact opposite of what the government is saying.

Nah, the reason for the correction is simple: it was going up wayyy too fast. Borderline double-exponential growth was starting.

Exactly. This correction just reinforces the growth.

I'm now super close to the target I set almost one year ago to sell 10% of my coins to cash out a significant fiat profit, while holding tight to 90% of my BTC stash. It's amazing how fast this has escalated, I remember when $20 coins felt expensive. Next summer is looking good for me

[ardana123]

http://www.youtube.com/watch?v=X0GHKRRHn78&list=FLoH77Y4AuvXr0RVk1WmiNXg&index=1

[macsga]

[Searing]

got a KNC Jupiter I expected to make ROI in a lesiurey fashion in say 9 months to 1 year...as I expected hype to slow down etc more equip etc.....mad ROI in 25 days
started mining oct 18th I think coin then was around $150

Does that include your power consumption?

heh power consumption being really really optimistic and selling at 600 bucks BTC at www.mtgox.com  minus the $7,131.80 USD I spent w/shipping (and not counting power supply)for the KNC Jupiter i have....I'm under those more then rosy conditions at 21 coins @$12,600 USD....minus $7131.80 that is $5,468.20 ahead and I'll have been mining 1 month tomorrow 11/18 as of 8:30pm CST USA.....as for electric it is a bit less then 100 bucks I think around 80 bucks but call it 100 cause I've been home a lot babysitting miner and giggling so more use on other computers and such this month

of course it will all go boom and I will probably be looking at 1/2 ROI on Monday after the U.S. House hearings ...or some such bad news...but hey that works too for 1 month of mining I have a Jupiter hashing 555gh consistent ..just put the new firmware on now 0.99 its hashing at around 564gh consistent....

heh been a good nite for me at least in the delusions of my own mind (yeah we are all insane it is only real variable that is constant in all this)

Searing


p.s. er as I ordered the Jupiter on July 1st I think BTC was 60 bucks or some such yeah better of getting BTC direct I would have been but no body imho noob wise jumps in with 7k or more in speculation...we always start with equipment...now in the future with how asic mnfg stuff trickles out etc etc I may change my tune but this is what I seem to hear how most start in bitcoin with miners (or did back in the early early days of summer 2013....)
 

And 25 days ago the price was $150.

$7,131.80/$150 = 47.54533333 BTC

47.54533333 * $600 = $28,527.20

You would have made more with buy and hold.

True but as I stated in previous posts with BTC at what $60 bucks last summer and being a noob I was unlikely to dump 7,131.80 out of the gate in pure speculation....at least this last summer everyone I knew doing bitcoin STARTED as a NOOB by mining...at least then...so yeah I agree with your point and may do more or all speculation in the future..but most people will ease in it slowly (or did) and will buy a piece of equipment that pays for itself first rather then plunk money down on a market speculation out the gate (I should coulda woulda done better doing the same with gold  a couple years ago to...also goes for the same in speculation on silver.....or flipping houses...etc ...but a piece of equip that at the time in say 7 months would pay for itself and make some coin after ..maybe enough to pay my home utils for 6 months ....zowie.....(remember we we're more modest in our hobby expectations back then ..or at least how I remember (remember Avalon? ...there are guys there who did quite well mining last summer WHEN  they got their equipment around that time I got my July order in for a Jupiter..which was risky enough with KNC being newer then wet paint as a company.

anyway again I agree woulda/shoulda but as a NOOB and imho it is very likely that trend will continue they will mine first and figure out this bitcoin stuff and then maybe buy/sell/hold more instead or in addition to mining..which is probably the area of the landscape of bitcoin you are at now....I'm probably heading that way too....

(ah yes if I'd only had the 'big brass ones' to buy at 60 USD..that BTC..tough sell last summer with everyone yelling how evil bitcoin was or so my feeble mind remembers)

as usual I'm clueless just saying

Searing

[Searing]

Put your ask at 3600 USD =D http://btctrading.wordpress.com/2013/11/18/long-term-update-next-top-at-3600/

I like this guy 

got a BTC woody from the link! 

[haightst]

got a KNC Jupiter I expected to make ROI in a lesiurey fashion in say 9 months to 1 year...as I expected hype to slow down etc more equip etc.....mad ROI in 25 days
started mining oct 18th I think coin then was around $150

Does that include your power consumption?

heh power consumption being really really optimistic and selling at 600 bucks BTC at www.mtgox.com  minus the $7,131.80 USD I spent w/shipping (and not counting power supply)for the KNC Jupiter i have....I'm under those more then rosy conditions at 21 coins @$12,600 USD....minus $7131.80 that is $5,468.20 ahead and I'll have been mining 1 month tomorrow 11/18 as of 8:30pm CST USA.....as for electric it is a bit less then 100 bucks I think around 80 bucks but call it 100 cause I've been home a lot babysitting miner and giggling so more use on other computers and such this month

of course it will all go boom and I will probably be looking at 1/2 ROI on Monday after the U.S. House hearings ...or some such bad news...but hey that works too for 1 month of mining I have a Jupiter hashing 555gh consistent ..just put the new firmware on now 0.99 its hashing at around 564gh consistent....

heh been a good nite for me at least in the delusions of my own mind (yeah we are all insane it is only real variable that is constant in all this)

Searing


p.s. er as I ordered the Jupiter on July 1st I think BTC was 60 bucks or some such yeah better of getting BTC direct I would have been but no body imho noob wise jumps in with 7k or more in speculation...we always start with equipment...now in the future with how asic mnfg stuff trickles out etc etc I may change my tune but this is what I seem to hear how most start in bitcoin with miners (or did back in the early early days of summer 2013....)
 

And 25 days ago the price was $150.

$7,131.80/$150 = 47.54533333 BTC

47.54533333 * $600 = $28,527.20

You would have made more with buy and hold.

True but as I stated in previous posts with BTC at what $60 bucks last summer and being a noob I was unlikely to dump 7,131.80 out of the gate in pure speculation....at least this last summer everyone I knew doing bitcoin STARTED as a NOOB by mining...at least then...so yeah I agree with your point and may do more or all speculation in the future..but most people will ease in it slowly (or did) and will buy a piece of equipment that pays for itself first rather then plunk money down on a market speculation out the gate (I should coulda woulda done better doing the same with gold  a couple years ago to...also goes for the same in speculation on silver.....or flipping houses...etc ...but a piece of equip that at the time in say 7 months would pay for itself and make some coin after ..maybe enough to pay my home utils for 6 months ....zowie.....(remember we we're more modest in our hobby expectations back then ..or at least how I remember (remember Avalon? ...there are guys there who did quite well mining last summer WHEN  they got their equipment around that time I got my July order in for a Jupiter..which was risky enough with KNC being newer then wet paint as a company.

anyway again I agree woulda/shoulda but as a NOOB and imho it is very likely that trend will continue they will mine first and figure out this bitcoin stuff and then maybe buy/sell/hold more instead or in addition to mining..which is probably the area of the landscape of bitcoin you are at now....I'm probably heading that way too....

(ah yes if I'd only had the 'big brass ones' to buy at 60 USD..that BTC..tough sell last summer with everyone yelling how evil bitcoin was or so my feeble mind remembers)

as usual I'm clueless just saying

Searing

tl;dr   /\you wanna donate ((BTC))  ? ~many thanks x1O !!!



====> 1FLawxazRYCVeyGuLFPbmzMNespJLQEmBo

[MoreFun]

The spread between Gox and Stamp is getting ridiculous. Even in % terms.

Wait for money to arrive to stamp.

[mccorvic]

Who are these dorks selling on Stamp? 

"Oh, the other two exchanges are 25% higher and are either steady or climbing. Guess I better dump!"

[bnjmnkent]

Who are these dorks selling on Stamp?  

"Oh, the other two exchanges are 25% higher and are either steady or climbing. Guess I better dump!"

Sounds reasonable

[gambitv]

Who are these dorks selling on Stamp?  

"Oh, the other two exchanges are 25% higher and are either steady or climbing. Guess I better dump!"

Sounds reasonable

Could be folks like myself who moved coins from gox to stamp, and want to liquidate a few since money been tied up for a while.


EDIT: 3000 coins showing in Sum Ask on gox?

[haightst]

Who are these dorks selling on Stamp?  

"Oh, the other two exchanges are 25% higher and are either steady or climbing. Guess I better dump!"

Bitstamp ?  LOL  

http://3.bp.blogspot.com/-U4wxeUuzz8c/Tr4cWu8-1MI/AAAAAAAAAWI/LVu1YIGhrYw/s1600/phone+modem.jpg

[bnjmnkent]

Who are these dorks selling on Stamp?  

"Oh, the other two exchanges are 25% higher and are either steady or climbing. Guess I better dump!"

Sounds reasonable

Could be folks like myself who moved coins from gox to stamp, and want to liquidate a few since money been tied up for a while.


EDIT: 3000 coins showing in Sum Ask on gox?

btc-e?

[bnjmnkent]

This going to be on c span?

If so when.

Thx

Hearing starts 6 hours from now.
http://www.c-spanvideo.org/program/Currenci

Edit:
http://www.hsgac.senate.gov/hearings/beyond-silk-road-potential-risks-threats-and-promises-of-virtual-currencies

On Tuesday:
http://www.banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hearing&Hearing_ID=955322cc-d648-4a00-a41f-c23be8ff4cad

[macsga]

I missed today's work with last night's race... When I woke up I witnessed the bear market run; I decided to stay calm and go out for a morning coffee. I just got back and it's over $600 once more. I love BTC!

[ChartBuddy]

[gambitv]

I missed today's work with last night's race... When I woke up I witnessed the bear market run; I decided to stay calm and go out for a morning coffee. I just got back and it's over $600 once more. I love BTC!

He says as a minor correction comes in again...

[haightst]

This going to be on c span?

If so when.

Thx

Hearing starts 6 hours from now.
http://www.c-spanvideo.org/program/Currenci

Thx.  Back to bed then

/\6OO = borringggg ! *wake me up when we bump to /\13OO+ mm k?  

[Nightowlace]

So here is a silly bear statement for all the bulls.

What happens when Bitcoin is accepted as a form of currency by the US Government and they begin to institute regulations, tracking etc.
1. Anonymity is gone.
2. The true unregulated, decentralized currency is now regulated an will become far from decentralized. If/when they realize they can't control it, tax it, etc. they will cut all funding sources just like they did with Gox.
3. All online gambling associated with BTC falls victim to current US online gaming rules. Meaning US citizens can and will be prosecuted for partaking in such activities. They will go after exchanges, and gaming sites for funding/accepting "payment" from US citizens.

Yeah shit just got real as far as price goes, but shit is going to get a lot more real once the US Government starts trying to regulate it. Anything with a market cap this high and projected to reach 400 BILLION is something they are gonna take real serious.

I'm a bear right now because;
1. The US Government fucks everything up.
2. New money = weak hands
3. There are some very large holders of BTCE and if they decide at any point to cash in and move on it would be catastrophic and at these prices a bubble would crush BTC.
4. (I'm sure this will be highlighted by all Bulls) as everyone I would like to buy some more coins cheaper!  

[bito]

There must be something wrong with i286's bid sum (12.7M) & ask sum (5800B). Roughly half whats on the blockchained chart

http://www.blockchained.com/depth_mtgox_15d.png