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

[samson]

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?  

A dump of 1000 BTC as bids filled in and we're down to $585

[600watt]

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

we started out with 10 jupiter (+1 as bonus, thank you knc). sold 5 beginning of october and sold the rest yesterday. we made more than 20% roi in btc. after very unpleasent and expensive fuck ups with BFL, avalon gen III and avalon chip sale we almost lost faith in mining. knc sorted this for us. this was the best investment i ever made. (well, except for those first coins i bought in 2011)

[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!

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

Aaaand back to $615++

[DougTanner]

Stamp so far behind, even Canada's way ahead now. Deposit issues?

[wachtwoord]

What the hell is causing that spread? It's not just Gox too, China is even higher.

We still live in the wild west!

[Spaceman_Spiff]

What the hell is causing that spread? It's not just Gox too, China is even higher.

We still live in the wild west!

FBI likes Stamp to liquidate their coins  . jk

[maz]

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!  

I'm with you mate, genuinely. But the price right now is saying otherwise. It's as though it's saying 'I should have crashed hard by now but I'm refusing, up up and away I GOO!!'.

[gandhibt]

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!  

1. I sold at 300

[MoreFun]

What the hell is causing that spread? It's not just Gox too, China is even higher.

We still live in the wild west!

Bitfinex is out of money on stamp.

[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!  

1. I sold at 300

I've sold all the way up starting at $100 and have buy orders all they way back. I admitted I would like cheaper coins but there are other valid concerns as I also mentioned. I would love to place some large buy orders but right now it's very scary.

[Nightowlace]

Yet another concern;

Do you really thing the average Joe is gonna want to take his paycheck and buy 1 bitcoin?
Will the average Joe be able to comprehend that you can buy pieces of bitcoin?

[wachtwoord]

Yet another concern;

Do you really thing the average Joe is gonna want to take his paycheck and buy 1 bitcoin?
Will the average Joe be able to comprehend that you can buy pieces of bitcoin?

Yes.

[TERA]

For once I'll say thank god there is gox to support the price otherwise bitstamp looks like it would go down the rabbit hole. What is going on over there and what happened to the order book? The bid at btcchina doesn't look impressive either.

[bnjmnkent]

For once I'll say thank god there is gox to support the price otherwise bitstamp looks like it would go down the rabbit hole. What is going on over there and what happened to the order book? The bid at btcchina doesn't look impressive either.

Total bids: 6747666.1314018351  | Total asks: 3223422.1035258354

https://www.bitstamp.net/market/order_book/

[gambitv]

I've sold all the way up starting at $100 and have buy orders all they way back. I admitted I would like cheaper coins but there are other valid concerns as I also mentioned. I would love to place some large buy orders but right now it's very scary.

[TERA]

For once I'll say thank god there is gox to support the price otherwise bitstamp looks like it would go down the rabbit hole. What is going on over there and what happened to the order book? The bid at btcchina doesn't look impressive either.

Total bids: 6747666.1314018351  | Total asks: 3223422.1035258354

https://www.bitstamp.net/market/order_book/

There is like 1000btc in front of $400.

[rpietila]

For once I'll say thank god there is gox to support the price otherwise bitstamp looks like it would go down the rabbit hole. What is going on over there and what happened to the order book? The bid at btcchina doesn't look impressive either.

I had a difficulty logging in at Bitstamp several times today I couldn't do it. When I finally could, I bought about 4 bitcoins with market order

They credit the money usually about this time of the day, and the rally takes 2-3 hours. It is 3:41pm in central Europe, people cannot buy yet as they are working and travel home. Then it will normalize with others. (If not, there is an issue)

[macsga]

From my point of view; it's stabilizing at $600. That means it will go up again (maybe within the day). The orderbooks are significantly lower at volume as it should have been after all those people buying BTCs. Note this down, the future bull/bear market races will be driven by orders in the scale of 100s not 1000s... and this is coming FAST!

[phoenix1]

Yet another concern;

Do you really thing the average Joe is gonna want to take his paycheck and buy 1 bitcoin?
Will the average Joe be able to comprehend that you can buy pieces of bitcoin?

Wait a minute, aren't you the guy that correctly called the crash from $450 to $250 last thursday <sarc> or was that someone else trying to spread fear in here ?

[Nightowlace]

Yet another concern;

Do you really thing the average Joe is gonna want to take his paycheck and buy 1 bitcoin?
Will the average Joe be able to comprehend that you can buy pieces of bitcoin?

Yes.

Challenge issued;
1. Go to Walmart
2. Ask cashier if you can pay in Bitcoin
3. After he/she looks at you with a blank stare attempt to explain Bitcoin
4. Attempt to explain how they can acquire bitcoin
5. Report the results of your conversation here.

Bonus round;
If you can get a friend to YouTube said attempt you would score bonus points just for the comedic value we would all get watching it.

Do you accept this challenge?