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

[Okurkabinladin]

so its very calm on gox, china is awake, europe is awake, usa starting the day, any explanation for the boredom?

Silence before storm  during evening Gox and China will make a run on gold parity. What happens when they get there is anyones guess.

Nothing speacial will happen, only that 1 BTC will be more expensive than 1 oz.

I have to disagree here, parity with gold is atleast similar to passing 1000 USD/BTC in relevance. There will be both panic buys and cash outs. Either Bitcoin will accelerate towards "moon" or start crashing hard. Can´t wait to find out  

[1714944776]

1714944776

[1714944776]

1714944776

[1714944776]

1714944776

[1714944776]

1714944776

[1714944776]

1714944776

[1714944776]

1714944776

[marcus_of_augustus]

... just wait until the monte carlo connection arrives ... 1k is now the basis for confidence for the really big fishes

[fluidjax]

One thing that didn't come across/wasn't discussed is that you can divide Bitcoins into smaller parts.

I think we need to move to mBTC before folk begin to understand this.

A guy at my work didn't understand this either and he's a programmer like me. He assumed that they could only be moved in whole units and didn't understand how that would work if its a currency. When I explained it can be divided to 8dp, and that could be changed in the future he was like "ahhhhhhh that makes a lot more sense"

we had an invitation to a major german venture capital company to present a bitcoin business idea. they had no clue what bitcoin was. so we started to explain it. when it came to the "there will only be 21 million btc ever existing" thing, they said that no economy can be built on just 21 mio pieces. we tried hard to tell them about divisibility. they did not buy it. they asked questions like " but who is setting what divisibility comes in place, who is controlling it ?"

 I think what is important for lay people to understand is there are no obvious flaws in bitcoin. If they think they see an obvious flaw or some way in which it won't work, it is important that they understand that they don't understand it yet. This is difficult without insulting peoples intelligence, but I find if you let them 'save face' by explaining the underlying system is only really understood by cryptologists and mathematicians, they dont feel so dumb and resistant to something they don't get straight away. This gives them the time to absorb it.

[Mevius]

I think what is important for lay people to understand is there are no obvious flaws in bitcoin. If they think they see an obvious flaw or some way in which it won't work, it is important that they understand that they don't understand it yet. This is difficult without insulting peoples intelligence, but I find if you let them 'save face' by explaining the underlying system is only really understood by cryptologists and mathematicians, they dont feel so dumb and resistant to something they don't get straight away. This gives them the time to absorb it.

qft

Still nothing spectacular going on.

[herzmeister]

ok guys who of you produced this advertising pitch?

http://moneymorning.com/ext/bitcoin/videos/video-bitcoin.php

how come I've never stumbled upon this before?

[ChartBuddy]

[jofus87]

ok guys who of you produced this advertising pitch?

http://moneymorning.com/ext/bitcoin/videos/video-bitcoin.php

how come I've never stumbled upon this before?

Still figuring out how Bitcoin = Edison's renegade currency... 

[micalith]

ok guys who of you produced this advertising pitch?

http://moneymorning.com/ext/bitcoin/videos/video-bitcoin.php

how come I've never stumbled upon this before?

Still figuring out how Bitcoin = Edison's renegade currency...  

exceedingly annoying commentator. I'm half way through. Does he EVER describe anything, or just list a load of anecdotes, like a cheap pyramid scheme video ??

edit: sorry I couldn't finish it. Really got on my tits

[jofus87]

ok guys who of you produced this advertising pitch?

http://moneymorning.com/ext/bitcoin/videos/video-bitcoin.php

how come I've never stumbled upon this before?

Still figuring out how Bitcoin = Edison's renegade currency...  

exceedingly annoying commentator. I'm half way through. Does he EVER describe anything, or just list a load of anecdotes, like a cheap pyramid scheme video ??

edit: sorry I couldn't finish it. Really got on my tits

Definitely directed for old people. They do kinda explain the bitcoin network, but not very well. Some good points about how the modern fiat currencies work, though.

[herzmeister]

but I guess a hint that we're going mainstream... exiting early adopter phase

[MahaRamana]

One thing that didn't come across/wasn't discussed is that you can divide Bitcoins into smaller parts.

I think we need to move to mBTC before folk begin to understand this.

A guy at my work didn't understand this either and he's a programmer like me. He assumed that they could only be moved in whole units and didn't understand how that would work if its a currency. When I explained it can be divided to 8dp, and that could be changed in the future he was like "ahhhhhhh that makes a lot more sense"

we had an invitation to a major german venture capital company to present a bitcoin business idea. they had no clue what bitcoin was. so we started to explain it. when it came to the "there will only be 21 million btc ever existing" thing, they said that no economy can be built on just 21 mio pieces. we tried hard to tell them about divisibility. they did not buy it. they asked questions like " but who is setting what divisibility comes in place, who is controlling it ?"

What is the kind of capital you are looking for for your business idea ?

People who don't know bitcoin are the last persons to present such an idea.
You should search amongst bitcoin enthousiasts. many are rich nowadays.

[seldon]

Gox down, stamp up - arbitraging kicking in?

[wilfried]

i am waiting for the +-20 USD crazyness on gox from yesterday after midnight

[Mevius]

Gox down, stamp up - arbitraging kicking in?

China down almost 500 CNY

[libity]

Gox & China have been mirroring each other for a while, whilst Stamp is just going off and doing it's own thing.

[fgkrew]

One thing that didn't come across/wasn't discussed is that you can divide Bitcoins into smaller parts.

I think we need to move to mBTC before folk begin to understand this.

A guy at my work didn't understand this either and he's a programmer like me. He assumed that they could only be moved in whole units and didn't understand how that would work if its a currency. When I explained it can be divided to 8dp, and that could be changed in the future he was like "ahhhhhhh that makes a lot more sense"

When you have studied bitcoin a long time yourself it might come as a shock how little common folk know about this.

I can also confirm this. A friend came to my house yesterday while i was looking at some charts.
He was surprised that it was around 1000usd. He asked who was going to buy it so high? i said that you could divide it and buy a small part of btc. It made more sense to him since he did not know that.

[beetcoin]

One thing that didn't come across/wasn't discussed is that you can divide Bitcoins into smaller parts.

I think we need to move to mBTC before folk begin to understand this.

A guy at my work didn't understand this either and he's a programmer like me. He assumed that they could only be moved in whole units and didn't understand how that would work if its a currency. When I explained it can be divided to 8dp, and that could be changed in the future he was like "ahhhhhhh that makes a lot more sense"

When you have studied bitcoin a long time yourself it might come as a shock how little common folk know about this.

I can also confirm this. A friend came to my house yesterday while i was looking at some charts.
He was surprised that it was around 1000usd. He asked who was going to buy it so high? i said that you could divide it and buy a small part of btc. It made more sense to him since he did not know that.

more and more i think about it.. we must be insular psychos to the sane people. everything we eat, shit, and breathe is in bitcoin. that's all..

[ChartBuddy]

[Dargumin]

It's quiet here, must be a boring day in bitcoinland...

[Richy_T]

I guess next is ATH BTC=ATH Au then page count parity and beyond!

Don't forget 1337