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

[niothor]

A question what if people start "losing" bitcoins to hike the price up. Is that possible? That could be a problem in the future if it becomes a normal practice. Is there a way around that?

I see a much bigger problem , people running services claiming being hacked
And it did happen a lot recently.

[maz]

Now here's something you don't want to do, a man in Wales has accidentally thrown out his hard drive which has his bitcoin wallet with 7500BTC on it, it's now buried somewhere in a landfill site:  
http://uk.finance.yahoo.com/news/the-4million-bitcoin-treasure-hunt-newport-wales-computer-hard-drive-thrown-out-with-rubbish-133041090.html

The stupidity was not making a backup.

You know there have to be more than a few wallets full of BTC sitting on hard-drives on computers in second-hand stores and pawn shops. I look forward to hearing some interesting stories.

A friend lost a relative recently who got on the btc bandwagon in 2010, the guys widow doesn't even know what bitcoin is. He died Saturday night, friends been trying to decide how to approach the wife about recovering them for her. I imagine lot's of these types of stories will come out over the following years!

Tell him to do it soon. People act hastily in grief. She may give the computer to a nephew or something.

One of our Partners had been in Bitcoin since late 2012. He died unexpectedly early 2013, and we suggested the widow certain measures of Bitcoin recovery. She refused, saying, that despite she had heard him constantly talking about it, it is unlikely that he had any or that it would matter.

Whats her email?

[blacksails]

I am extremely jealous at the ltc/btc ratio right now. wtf how is ltc becoming stronger against bitcoin?

It's called pump&dump.

That or it is because it's cheaper to buy one LTC than one BTC, and it has also gotten some media attention lately!

[rpietila]

Fiat leaks slowing EVEN MORE money coming in 10,000 BTC an hour in money coming in.

It hit close on 7000 just before the 1000 mark and it's accelerating.

There will be no pulling back you, we will seriously overshoot 1000 IMO  

hah!

For every coming in, there is as much going out.

[Rampion]

We're not in the clear yet; we're still over 1k yuan away from the CNY high from earlier this month.

I'm delaying my celebration  

Still celebrating LTC and NMC tho ;-)

+1 on LTC although I'm also celebrating XRP.  Woot!  Sup Rampion!  

I win a lot with my BTC but I steel feel bad because I sold 300 LTC at 0.008 per BTC (I manage to catch the exact bottom, weee).

Please tell me LTC will go down.

Sorry, LTC gonna break $100 by years end.

Celebrating XRP? It was at 6,000-9,000 XRP's per BTC when we discussed it in Summer. I know by heart because I bought Ripples as an "hedge" against Bitcoin, I still have a few hundred k's of cRipples BTW. I never look at the exchange rate anymore because I get depressed when I see it (last time I checked I was losing +85% of the BTC invested in XRP) but honestly I consider the BTC I threw at it "lost" (and in dollars now that's a helthy 5 figures investment), I will keep those useless hundreds of k's of cRipples in case BTC finally goes to 0 and cRipple still exists - that's the ultimate purpose of an "hedge".

About LTC: it's extremely unlikely it will break $100 by years end. I give it 10% chance to do that. Will see.

Bro, are you math challenged?     You might wanna try looking at XRP/USD.   Do you remember the price of BTC in summer?  Do you know the price of BTC now?  Ok, that should clear it up for you.   XRP has smashed it's previous records.  

I actually think LTC will test the 25% of BTC theory but was saying $100 to be safe.   

Honestly, I don't give shit about XRP/USD. I invested BTC in it (precisely as an hedge), and I just care about XRP/BTC.

[Patel]

I am extremely jealous at the ltc/btc ratio right now. wtf how is ltc becoming stronger against bitcoin?

It's called pump&dump.

That or it is because it's cheaper to buy one LTC than one BTC, and it has also gotten some media attention lately!

yeah but the whole argument behind ltc being cheaper is a psychological effect. Thats like saying 1 gram copper is cheaper than 1 gram gold.

Are people going to buy all the copper just because its cheaper than gold? When gold is the one that is organically increasing in value and has all the use?

[Coinseeker]

Honestly, I don't give shit about XRP/USD. I invested BTC in it (precisely as an hedge), and I just care about XRP/BTC.

How can I put this politely...um...you're a moron. SMH

[Rampion]

Fiat leaks slowing EVEN MORE money coming in 10,000 BTC an hour in money coming in.

It hit close on 7000 just before the 1000 mark and it's accelerating.

There will be no pulling back you, we will seriously overshoot 1000 IMO  

hah!

For every coming in, there is as much going out.

You do know that once Bitstamp (where the US is cashing out) breaks $1,000 there will be almost no resistance till $10,000 - right?

[Coinseeker]

I am extremely jealous at the ltc/btc ratio right now. wtf how is ltc becoming stronger against bitcoin?

It's called pump&dump.

That or it is because it's cheaper to buy one LTC than one BTC, and it has also gotten some media attention lately!

yeah but the whole argument behind ltc being cheaper is a psychological effect. Thats like saying 1 gram copper is cheaper than 1 gram gold.

Are people going to buy all the copper just because its cheaper than gold? When gold is the one that is organically increasing in value and has all the use?

It's a speculative bet.  Bitcoin is proof-of-concept.  People now speculate Litecoin could have similar results.  Whether it will is irrelevant...what matters is what people believe.  Money will keep flowing to it by all those people who missed the sub-$100 Bitcoin train.

[kurious]

Fiat leaks slowing EVEN MORE money coming in 10,000 BTC an hour in money coming in.

It hit close on 7000 just before the 1000 mark and it's accelerating.

There will be no pulling back you, we will seriously overshoot 1000 IMO  

hah!

For every coming in, there is as much going out.

I am sure you're right - but momentum IN is huge, and a lot must be in Gox, so won't come out so easy in cash.  

The old guard can sell into this, sure - but I don't see how the momentum slows just now - not for a while.   1100 tonight looks easy now.

We shall see.

Right now... Choo choo MFs!

[2017orso]

Fiat leaks slowing EVEN MORE money coming in 10,000 BTC an hour in money coming in.

It hit close on 7000 just before the 1000 mark and it's accelerating.

There will be no pulling back you, we will seriously overshoot 1000 IMO  

hah!

For every coming in, there is as much going out.

You do know that once Bitstamp (where the US is cashing out) breaks $1,000 there will be almost no resistance till $10,000 - right?

Doesn't this assume all the potential resistance is in the order books arleady?

[blacksails]

I am extremely jealous at the ltc/btc ratio right now. wtf how is ltc becoming stronger against bitcoin?

It's called pump&dump.

That or it is because it's cheaper to buy one LTC than one BTC, and it has also gotten some media attention lately!

yeah but the whole argument behind ltc being cheaper is a psychological effect. Thats like saying 1 gram copper is cheaper than 1 gram gold.

Are people going to buy all the copper just because its cheaper than gold? When gold is the one that is organically increasing in value?

Of course it's a psychological effect. It feels like it's more, and it sounds more impressive to say: "I own 30 litecoins" than "I own 0.1 bitcoins".

[BTCSTOCKZ]

I am extremely jealous at the ltc/btc ratio right now. wtf how is ltc becoming stronger against bitcoin?

It's called pump&dump.

That or it is because it's cheaper to buy one LTC than one BTC, and it has also gotten some media attention lately!

besides BTC/XPM is the talk of the town! 



https://www.cryptsy.com/markets/view/63

*see it here?->

http://bitcoin.clarkmoody.com/

[Nemesis]

Now the real media bubble forms.  5 figures and then drop?

At 5 figures I can cash out and retire for good, so be it

This is wrong, you're not doing it right.

Cashing out to fiat, you will lose money.

Bitcoin is MONEY, its a store of wealth. Ppl can have their retirement saving in bitcoins and spend it as they needed.

Understand the technology and you can appreciate to be early adopter.

[Rampion]

Honestly, I don't give shit about XRP/USD. I invested BTC in it (precisely as an hedge), and I just care about XRP/BTC.

How can I put this politely...um...you're a moron. SMH

Yep, a moron that bought a full truck loaded of coins while you were saying that it was going straight down to 0 and that it would never succeed.

Now don't try to be the smart one and admit you got it totally wrong - you actually fucked up big time.

[thoughtfan]

Now here's something you don't want to do, a man in Wales has accidentally thrown out his hard drive which has his bitcoin wallet with 7500BTC on it, it's now buried somewhere in a landfill site:  http://uk.finance.yahoo.com/news/the-4million-bitcoin-treasure-hunt-newport-wales-computer-hard-drive-thrown-out-with-rubbish-133041090.html

Brb, flying to Newport!

You'll need a parachute or land at Cardiff or Bristol!

[Nemesis]

I know this has been posted, but i think its worth to understand the pic even deeper...


..

[Rampion]

Now the real media bubble forms.  5 figures and then drop?

At 5 figures I can cash out and retire for good, so be it

This is wrong, you're not doing it right.

Cashing out to fiat, you will lose money.

Bitcoin is MONEY, its a store of wealth. Ppl can have their retirement saving in bitcoins and spend it as they needed.

Understand the technology and you can appreciate to be early adopter.

I never said I would go "full fiat". I will never go full fiat, that's against my religion . But at 5 figures I could cash out 30-50% of my stash and never ever worry again about money, regardless of what happens after that.

[blacksails]

Now here's something you don't want to do, a man in Wales has accidentally thrown out his hard drive which has his bitcoin wallet with 7500BTC on it, it's now buried somewhere in a landfill site:  http://uk.finance.yahoo.com/news/the-4million-bitcoin-treasure-hunt-newport-wales-computer-hard-drive-thrown-out-with-rubbish-133041090.html

Brb, flying to Newport!

You'll need a parachute or land at Cardiff or Bristol!

Oh. Well, how hard can it be to parachute anyways?

[Nemesis]

Now the real media bubble forms.  5 figures and then drop?

At 5 figures I can cash out and retire for good, so be it

This is wrong, you're not doing it right.

Cashing out to fiat, you will lose money.

Bitcoin is MONEY, its a store of wealth. Ppl can have their retirement saving in bitcoins and spend it as they needed.

Understand the technology and you can appreciate to be early adopter.

I never said I would go "full fiat". I will never go full fiat, that's against my religion . But at 5 figures I could cash out 30-50% of my stash and never ever worry again about money, regardless of what happens after that.

No then you didnt mean "cashing out" (lol the term is "cash out" for god's sake)

You meant, "SPEND" 30-40% .....Which i hope on value asset such as real estate, and goods to enjoy life.