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

[Rannasha]

You don't see too many posts gloating about they sold at the top and rebought at the bottom.

Trading fees really eat into your profits when taking advantage of small swings, so you gotta wait for the bigger swings. I sold at 1035 and rebought at 930. Btcchina's no-fee trading sure looks attractive.

And what is BTCCHina's business model? How do they generate revenue?

I think they dont looking into profit right now. Its a smart move because they need to gain trust as well as testing their setup.

Mark did test his system while taking profits from us..... have you ever been goxxed? lol

I'd be quite uncomfortable with an exchange charging 0 fees if there isn't a clear plan/alternative revenue stream. I think everybody should work for profit, and a company managing millions of $$$ per day doing it for free seems fishy to me. Especially considering that there is not much choice for Chinese, its not like the market is super mature and bloated with reliable options and you need to work for free to gain user base.

You may be right, but I prefer to trust my hard earned money to companies with a clear business model, and that have a big incentive in NOT scamming customers.

AFAIK withdrawals are not free on BTCChina. Either way, there are plenty of reasons for 0% fees, at least for now. BTC hasn't had much attention yet in China and if BTCChina can establish itself as the standard exchange that everyone uses and effectively get a monopoly, then they're free to raise their fees in the future when they've crushed the competition. Trying to corner the market by offering services or products below cost-price is a normal business strategy.

[kurious]

Can we take down (or adjust) the poll please?

To the question:

"Question:    Will Bitcoin trade over 1000$ within a few weeks?"

Only 74% answer 'yes'...

[Adrian-x]

You don't see too many posts gloating about they sold at the top and rebought at the bottom.

Trading fees really eat into your profits when taking advantage of small swings, so you gotta wait for the bigger swings. I sold at 1035 and rebought at 930. Btcchina's no-fee trading sure looks attractive.

And what is BTCCHina's business model? How do they generate revenue?

1% on withdrawal

[theonewhowaskazu]

Can we take down (or adjust) the poll please?

To the question:

"Question:    Will Bitcoin trade over 1000$ within a few weeks?"

Only 74% answer 'yes'...

If 100% answered "yes" then Bitcoin would have already been at $1000 by the time the poll was made.

[freebird]

yes, mbtc is the answer. it has to happen, otherwise we are screwed. people are afraid anyway since they are investing in something abstract digital "protocol". now if this in what they invest is so abstract and on top of it below 1, a fration of 1, not even 1 - then they will not buy it. psychological barrier...

I read on reddit yesterday that Bitcoinity is apparently going to change over to mBTC. He said he would make the switch after 1000 was passed. mBTC would be the default with the option to turn it onto BTC. Hopefully Bitcoinity can help start the trend.

This is excellent news!

[maz]

And we reached $1000. My countdown is over with 2 days to spare.

Like clockwork I'm telling you.

Ok,

Next prediction then, you cant stop now if your on a roll.

[kurious]

Can we take down (or adjust) the poll please?

To the question:

"Question:    Will Bitcoin trade over 1000$ within a few weeks?"

Only 74% answer 'yes'...

If 100% answered "yes" then Bitcoin would have already been at $1000 by the time the poll was made.

Yep - it's out of date, I was joking - but why not set a new target we can hope for?

[theonewhowaskazu]

Can we take down (or adjust) the poll please?

To the question:

"Question:    Will Bitcoin trade over 1000$ within a few weeks?"

Only 74% answer 'yes'...

If 100% answered "yes" then Bitcoin would have already been at $1000 by the time the poll was made.

Yep - it's out of date, I was joking - but why not set a new target we can hope for?

I'm predicting $2000 before the next big crash. And this crash is going to be one for the books, I swear.

[mb300sd]

wtf? 1,000,000 BTC ??

[seanneko]

Private jet, here I come...

I just woke up from a dream about my new mansion and Lamborghini parked out the front.

One day... Just need patience :p

[I_bitcoin]

Can we take down (or adjust) the poll please?

To the question:

"Question:    Will Bitcoin trade over 1000$ within a few weeks?"

Only 74% answer 'yes'...

If 100% answered "yes" then Bitcoin would have already been at $1000 by the time the poll was made.

Yep - it's out of date, I was joking - but why not set a new target we can hope for?

I vote for 10k as the poll.   And suggest we reach there by end of 2014.

[DougTanner]

Dat buy wall.

[Aido]

Yep - it's out of date, I was joking - but why not set a new target we can hope for?

mBTC 1 = $2 by 2013-12-31 23:59?

[dwdoc]

Yep - it's out of date, I was joking - but why not set a new target we can hope for?

mBTC 1 = $2 by 2013-12-31 23:59?

Easy way to pronounce mbtc?

"embit" "milli-bit" ?

[Aido]

milliBee?

To be part of rpietila supernode concept you need to be a KillaBee (KBTC) i.e. Killer Bee

[kurious]

Yep - it's out of date, I was joking - but why not set a new target we can hope for?

mBTC 1 = $2 by 2013-12-31 23:59?

I like it 

[freebird]

Yep - it's out of date, I was joking - but why not set a new target we can hope for?

mBTC 1 = $2 by 2013-12-31 23:59?

Easy way to pronounce mbtc?

"embit" "milli-bit" ?

I like millibit. It rolls off the tongue.

[SkRRJyTC]

Keep panicking please

Thanks.

[kurious]

Yep - it's out of date, I was joking - but why not set a new target we can hope for?

mBTC 1 = $2 by 2013-12-31 23:59?

Easy way to pronounce mbtc?

"embit" "milli-bit" ?

I thought 'millibit' - but with one more syllable than bitcoin, it won't succeed as easily as 'embit' now I think about it.

[mb300sd]

Come on people, buy on stamp instead of gox! Its cheaper anyway