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

[bitcoinbible]

http://cdn.memegenerator.net/instances/500x/43220674.jpg

https://bitcointalk.org/index.php?topic=343037.0

“Millionaires don't use Astrology, BTCillionaires do.”
― J.P. Morgan

 

[proudhon]

https://bitcointalk.org/index.php?topic=343037.0

This is bearish right? RIGHT?
You've... changed...

There are no bears in bitcoin. They have all been run over by the bitcoin train. Choo choo!

Well, the fact is, if bitcoin sticks around, and the infrastructure continues to strengthen, and more services are built on top of it, then it will simply be worth a lot more than it is now.  And even then, I think it will continue to be a very bumpy ride, compared to just about everything else.  Or, the whole thing could collapse.

[humanitee]

Well, the fact is... bitcoin... will simply... collapse.

 

[Boxman90]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

[wachtwoord]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

That's not an issue it's a feature!

[Miz4r]

Once Bitstamp confidently passes its ATH it will probably inspire Gox and btcchina to rally with it as well, bringing Gox close to its ATH in turn. Then when Gox passes its ATH all hell will break loose and btcchina will be catapulted towards its own ATH with Gox and Stamp following closely behind. It's like the three big exchanges are using each other as slingshots around their respective ATHs.

Just reminding you all. Phase 1 has already started, don't wait for phase 2 and 3.

[Mirsad]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

That's not an issue it's a feature!

No it's not. It really limits global daily usage.
But there are other coins solving this issue.

[bitcoinbible]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

better than having to wait three days for a stock trade to clear ...hmmm  

[Davyd05]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

That's not an issue it's a feature!

I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.

[Chalkbot]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

You're wrong on more than one point. But I understand you're probably just trying to talk the price down, so cheers!

[Boxman90]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

better than having to wait three days for a stock trade to clear ...hmmm  

The utopian feature of bitcoin, on which the whole "unlimited growth" picture is based (deflationary currency), simply can't be realized. With 7 transactions per second, Bitcoin can NEVER be used as a full-grown global currency for day-to-day transactions. Once the general public fully understands the implications of a 7 tps limit, this will ignite the first cracks in the giant bubble we've been in since 2011.

Doesn't mean I can't make profits on this tremendous volatility though. Daytraders heaven, we are in now.

[crazy_rabbit]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

That's not an issue it's a feature!

I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.

Lets assume Bitcoin is worth 7x as much by then, so 35 Billion or so. I think we will have the resources to fix that.

[CryptStorm]

Once Bitstamp confidently passes its ATH it will probably inspire Gox and btcchina to rally with it as well, bringing Gox close to its ATH in turn. Then when Gox passes its ATH all hell will break loose and btcchina will be catapulted towards its own ATH with Gox and Stamp following closely behind. It's like the three big exchanges are using each other as slingshots around their respective ATHs.

Just reminding you all. Phase 1 has already started, don't wait for phase 2 and 3.

What's stunning is to think that not only did the last 12 months start in single digits, we've ditched those, gone through the doubles, and may be witnessing the coming extinction of triple digits as media storm hits if this CHOO CHOO uptrends (parabolically) for any period of time.

If we see 2300 by Christmas (for ex), our correction might be to a measly 1100. It's really hard to keep up with something that gains 4000% in the year. Really! Really. OMG.

[wachtwoord]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

That's not an issue it's a feature!

I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.

Lets assume Bitcoin is worth 7x as much by then, so 35 Billion or so. I think we will have the resources to fix that.

There's nothing to fix! It's by design. Want it 'fixed'? Go create some dumb alt coin.

[ErisDiscordia]

The utopian feature of bitcoin, on which the whole "unlimited growth" picture is based (deflationary currency), simply can't be realized. With 7 transactions per second, Bitcoin can NEVER be used as a full-grown global currency for day-to-day transactions. Once the general public fully understands the implications of a 7 tps limit, this will ignite the first cracks in the giant bubble we've been in since 2011.

Don't forget that BTC has other uses than being a currency. It is a store of value and an indestructible ledger capable of storing and transferring ownership rights without counter party risks!

Might be that we will see an alt-coin stepping in to fulfill the role of currency for daily transactions, with BTC acting as the main referent of value and a store of said value. Or BTC could evolve.

[CryptStorm]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

better than having to wait three days for a stock trade to clear ...hmmm  

The utopian feature of bitcoin, on which the whole "unlimited growth" picture is based (deflationary currency), simply can't be realized. With 7 transactions per second, Bitcoin can NEVER be used as a full-grown global currency for day-to-day transactions. Once the general public fully understands the implications of a 7 tps limit, this will ignite the first cracks in the giant bubble we've been in since 2011.

Doesn't mean I can't make profits on this tremendous volatility though. Daytraders heaven, we are in now.

Stop with the goddamned 7 transactions bit-- you're so smart, you can repeat something, wow. Do you remember 2600!??!?!? Yeah, cuz that killed the internet. The fact that it's visionary means most people won't 'get' it; you sir, qualify. Go buy some Amazon coins. UGH!!!

[bitcoin carpenter]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

I thought this could be changed when necessary

If not I may become a bear as well

[alexeft]

Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.

better than having to wait three days for a stock trade to clear ...hmmm  

The utopian feature of bitcoin, on which the whole "unlimited growth" picture is based (deflationary currency), simply can't be realized. With 7 transactions per second, Bitcoin can NEVER be used as a full-grown global currency for day-to-day transactions. Once the general public fully understands the implications of a 7 tps limit, this will ignite the first cracks in the giant bubble we've been in since 2011.

Doesn't mean I can't make profits on this tremendous volatility though. Daytraders heaven, we are in now.

7 transaction /sec translates to 600000 per day.

That would make a huge database within months. Bitcoin and any other blockchain currency will only grow along with the computers that run it.
Not any faster.

For the time being though, the sky is the limit (ahem, I mean Mars)!

[600watt]

stamp $ over gox $ ?

what is next?

gox € over gox $ ?

stamp $ over stamp yen ?

[CryptStorm]

The utopian feature of bitcoin, on which the whole "unlimited growth" picture is based (deflationary currency), simply can't be realized. With 7 transactions per second, Bitcoin can NEVER be used as a full-grown global currency for day-to-day transactions. Once the general public fully understands the implications of a 7 tps limit, this will ignite the first cracks in the giant bubble we've been in since 2011.

Don't forget that BTC has other uses than being a currency. It is a store of value and an indestructible ledger capable of storing and transferring ownership rights without counter party risks!

Might be that we will see an alt-coin stepping in to fulfill the role of currency for daily transactions, with BTC acting as the main referent of value and a store of said value. Or BTC could evolve.

Right, or paired cryptos that works off the blockchain by private merchants, interface at the junction and balance the books every 8 hours (the whole fucking world's books). Not to mention the ledger is programmable to receive instructions and payouts, the addresses can be modified to further show unique data... it goes on and on.