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

[Mirsad]

I don't think $800 is cheap.

True.
Let's dump more.

200 on the way to gox!

[rpietila]

The dump will intensify as we hit $700. People have had a few days to think that $700 is quite a good price to have for the excess coins.

[maz]

I don't think $800 is cheap.

You probably have the power to make the price $200.

Go on.....have a few whisky's and sell some coins mate

[DaRude]

Someone is really trying to cash out at GOX before monday. He's doing it right in steps though. Probably thinks there'd be a bloodbath on monday during banking hrs when all other bears will start dumping at max liquidity.

[Gordonium]

THE GREAT CRASH!!!!!

[maz]

Getting some gox-lag as well.

Must be about 4 people logged in.

[macsga]

PANIC!!! SELL SELL SELL!!!

[bassclef]

Can we get some better moderation here? Trolls are getting desperate.

[barbs]

wow some whale just got owned

[macsga]

PANIC!!! SELL SELL SELL!!!

There you go... 

[Wekkel]

The dump will intensify as we hit $700. People have had a few days to think that $700 is quite a good price to have for the excess coins.

/
So, where do I set first buy when I go to sleep in a couple of hours? 

[Sword Smith]

I don't "agree" with him. I know he is right because I have studied this myself. The R/P ratios (reserves divided by production) rises for many fossile fuels and since the end of the 19th century some people who do not understand economics have been warning about peak oil. Peak oil is a myth but I don't see why we should have a political argument about it.

You have the right to your opinion and that's all it is.  An opinion.  My opinion, is that your opinion is not based in reality.  How can supply be growing faster than consumption when oil is the result of millions of years of decay?

You have misunderstood the concept of a "reserve". In mining a reserve is defined as something that is discovered and has been proven to be economically viable to extract. The fact that you do not know this tells me that you have not studied this issue enough to have a qualified opinion:

Mineral reserves are resources known to be economically feasible for extraction. Reserves are either Probable Reserves or Proven Reserves.

http://en.wikipedia.org/wiki/Mineral_resource_classification

Yet, you did not answer the question because you simply can not defend such illogical thinking.  Now you want to dodge with semantics.   Too funny.  

I have done this so many times it is getting tiring:

OIL
Global proven reserves:
1980: 683.4bn barrels
2013: 1'668.9bn barrels
Growth: 144 %

Global consumption:
1980: 61.4m barrels per day
2013: 89.8m barrels per day
Growth: 46.3 %

source:
http://www.bp.com/content/dam/bp/excel/Statistical-Review/statistical_review_of_world_energy_2013_workbook.xlsx

Conclusion: Oil supply is growing faster than consumption

[DaRude]

wow some whale just got owned

Is BTC200 considered a whale now?

[keewee]

Guys, any chance of taking the offtopic discussion to "Offtopic"? 

[macsga]

wow some whale just got owned

Is BTC200 considered a whale now?

It's $160,000 worth of BTC... But not yet. In a few weeks though...

[Sword Smith]

Guys, any chance of taking the offtopic discussion to "Offtopic"? 

Sorry. I thought this was "The Hang Out Place"

[maz]

Guys, any chance of taking the offtopic discussion to "Offtopic"? 

Sorry. I thought this was "The Hang Out Place"

Yeah, but your getting awfully in-depth

[rpietila]

The dump will intensify as we hit $700. People have had a few days to think that $700 is quite a good price to have for the excess coins.

/
So, where do I set first buy when I go to sleep in a couple of hours? 

Think of the value.

If you value bitcoin more than other things, just buy now. If you would like to have more coins but don't mind having some other things as well, select a suitable buyback price.

My buying range is $300-$500 but obviously I haven't set the bids yet because it would look bullish on charts.

(I disregard sarcasm and seize the opportunity to teach )

[windjc]

Someone is really trying to cash out at GOX before monday. He's doing it right in steps though. Probably thinks there'd be a bloodbath on monday during banking hrs when all other bears will start dumping at max liquidity.

This is ridiculous.

"All the bears."

Right. Yeah, there's soooooooooo many bears in Bitcoin right now. Thats why the price went from 200 to 900 and then corrected back to 800.

Reptiela is a bear because $800 just happens to be higher then his logarithmic chart suggest it should be. But thats just the chart he uses. It would have been much higher over his chart line in 2011.

[Wekkel]

My buying range is $300-$500 but obviously I haven't set the bids yet because it would look bullish on charts.

Thanks, I'd rather get in at $500 then possibly miss at $300. Won't stay awake all night for this