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

[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?

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 ?

That would be me. My predictions along with everyone else's predictions in here have been so accurate 

[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/

There is like 1000btc in front of $400.

LB: 400.7639999999999994295674100 UP: 626.8360000000000005704325902
Total bids: 1269092.4181137212  | Total asks: 1975921.9734585165
Ratio bids/asks: 0.6422786097633147074813460318

LB = 22% down from current price
UP = ...

[600watt]

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?

love it !

[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.

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?

No. How is this related to the original question? (plus we do not have WMT stores in my country).

Furthermore, I could issue you the same mission with Japanese Yen in your pocket

[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 ?

That would be me. My predictions along with everyone else's predictions in here have been so accurate 

Yes, but not all of them come on to brag the moment they were $10 in the right
You lost a lot of credibility with that attitude dude -maybe you were high. I think that would be considered a legit excuse in these parts  

Meanwhile, take some deep breaths, calm down, everything is going to be alright

[macsga]

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?

love it !

BRING IT ON!!!

[mestar]

hey its "virtual gold"

Bitcoin is not like gold at all, in the aspect that gold does not have price check built in the same way Bitcoin has.  Bitcoin network uses electrical power, and this power has cost.  At 600,  around 2 million usd daily, can pass trough exchanges pushing the price down.  So, we need 2 million daily just to keep the Bitcoin price at the same level.  So, 2 million of fresh sucker money daily.

[Spaceman_Spiff]

hey its "virtual gold"

Bitcoin is not like gold at all, in the aspect that gold does not have price check built in the same way Bitcoin has.  Bitcoin network uses electrical power, and this power has cost.  At 600,  around 2 million usd daily, can pass trough exchanges pushing the price down.  So, we need 2 million daily just to keep the Bitcoin price at the same level.  So, 2 million of fresh sucker money daily.

You do realize there is this thing going on that is called "gold mining"?

[600watt]

hey its "virtual gold"

Bitcoin is not like gold at all, in the aspect that gold does not have price check built in the same way Bitcoin has.  Bitcoin network uses electrical power, and this power has cost.  At 600,  around 2 million usd daily, can pass trough exchanges pushing the price down.  So, we need 2 million daily just to keep the Bitcoin price at the same level.  So, 2 million of fresh sucker money daily.

storing, guarding and transporting gold produces costs also.

[wachtwoord]

hey its "virtual gold"

Bitcoin is not like gold at all, in the aspect that gold does not have price check built in the same way Bitcoin has.  Bitcoin network uses electrical power, and this power has cost.  At 600,  around 2 million usd daily, can pass trough exchanges pushing the price down.  So, we need 2 million daily just to keep the Bitcoin price at the same level.  So, 2 million of fresh sucker money daily.

It is completely like gold but better. Nothing in the world comes closer to it than gold. Read http://evoorhees.blogspot.nl/2012/04/bitcoin-libertarian-introduction.html and http://evoorhees.blogspot.nl/2013/05/bitcoin-2013-role-of-bitcoin-as-money.html

[macsga]

THERE ARE ALIENS AMONG US!!!
(and they're buying stuff at Walmart)


PS:
Is this the cashier we're looking for to explain her about the bitcoin?

[seljo]

NASA could install Bitcoin on Mars rover if they wanted and send few Bitcoins ther so it becomes first interplanetary "currency"

[Nemesis]

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 ?

Yes thats him, the dumbass sold his coins to...."cash out" too early so not hes on a mission to spread BS. I bet his dinner's grace is "please make btc crash... pls pls" like a fcking kid.

[haightst]

NASA could install Bitcoin on Mars rover if they wanted and send few Bitcoins ther so it becomes first interplanetary "currency"

it took you TWO DAYS to figure that out? LOL 

[mestar]

You do realize there is this thing going on that is called "gold mining"?

If all gold mining in the world stopped, gold would still be useful, so it can function with "zero cost".  Not so with Bitcoin, Bitcoin will always have costs to keep it running, and this cost is an almost direct function of its price on the exchanges. 

[bnjmnkent]

NASA could install Bitcoin on Mars rover if they wanted and send few Bitcoins ther so it becomes first interplanetary "currency"

You might be interested in gmaxwell's text on autonomous agents here on BT.

[Spaceman_Spiff]

You do realize there is this thing going on that is called "gold mining"?

If all gold mining in the world stopped, gold would still be useful, so it can function with "zero cost".  Not so with Bitcoin, Bitcoin will always have costs to keep it running, and this cost is an almost direct function of its price on the exchanges.  

For now, due to inflation.  How about when miners have to survive on transaction fees alone?  If most transactions would occur off-chain, wouldn't that strongly reduce the operating costs?  (I am having a hard time predicting how this will evolve.)
But as noted by 600 watt, gold storage and transportation costs money too.

[mestar]

It is completely like gold but better.

Gold does not have a price point at which all the electrical power generated in the world is used by gold.  Bitcoin has such a price point.

[600watt]

NASA could install Bitcoin on Mars rover if they wanted and send few Bitcoins ther so it becomes first interplanetary "currency"

fuck, they should just send some of the fbi sr stash to mars.

and then, let´s see how long it takes for mankind to reach this planet  

[ardana123]

So now that we saw that huge rally in China today, any guesses what tomorrow will bring? I'm guessing a lot of Chinese people had put in deposits on the btc-china before the weekend. Most probably the remainder of those people who didn't get their money today will have their accounts funded tomorrow.