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

[revans]

With the announcement that gox and possibly coinbase is accepting litecoin trading. Do you think altcoins are going to affect bitcoin negatively? I mean people looking to get rich quickly would probably rather buy the cheaper coin than bitcoin. This is going to get complex.

Oh noes. Competition!

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[Odrec]

With the announcement that gox and possibly coinbase is accepting litecoin trading. Do you think altcoins are going to affect bitcoin negatively? I mean people looking to get rich quickly would probably rather buy the cheaper coin than bitcoin. This is going to get complex.

Oh noes. Competition!

No problem with that but it will definitely make consolidation more difficult. Or maybe easier?? I don't know this type of thing is so new in so many ways.

[emanymton]

With the announcement that gox and possibly coinbase is accepting litecoin trading. Do you think altcoins are going to affect bitcoin negatively? I mean people looking to get rich quickly would probably rather buy the cheaper coin than bitcoin. This is going to get complex.

Oh noes. Competition!

No problem with that but it will definitely make consolidation more difficult. Or maybe easier?? I don't know this type of thing is so new in so many ways.

Whatever the result it will be heaven for arbr's 

[dasein]

Fully understanding the dynamics between the cryptocurrencies will likely require the development of a new form of economics.

[ChartBuddy]

[LightRider]

How big can the precious numbers market possibly be?

[Franktank]

How big can the precious numbers market possibly be?

Honest question: Is $10,000 possible in 2014?

[Nightowlace]

Bitcoin will be like McDonalds. There will be many competitors, all of them will have similar offerings and something different. Each will have it's own specialty. McDonalds will still be at the top and everything else will be just another fast food chain.

[explorer]

How big can the precious numbers market possibly be?

Honest question: Is $10,000 possible in 2014?

8x increase on current valuation within 13 months?  Having seen it in the last 13 or so days certainly makes you wonder. BTC in the evening news every day doesn't reduce exposure. ETF possible before then. VC going nuts. Hell, why not? Why not by mid summer? This is bitcoin after all 

[chrsjrcj]

How big can the precious numbers market possibly be?

Honest question: Is $10,000 possible in 2014?

$100,000 is possible in 2014.

[Nightowlace]

Bitcoin will be like McDonalds. There will be many competitors, all of them will have similar offerings and something different. Each will have it's own specialty. McDonalds will still be at the top and everything else will be just another fast food chain.

It's kind of like Budweiser. Probably the shittiest beer on earth, yet #1 beer sold.

[hlynur]

Fully understanding the dynamics between the cryptocurrencies will likely require the development of a new form of economics.

tingly thought approach:
overall cryptocurrencies seem like a squid grabbing and absorbing fiat from all sides.
as soon as volatile altcoins crash or drive into bearphase its holders would either cash out in fiat or - more logically (once a coiner always a coiner  ) change to bitcoin due to its grown stability and it could get the role similar to a gold standard.

i'm really waiting for the time until big companies start their own altcoins (which probably function more like ripple).
the potential consuming power will gradually become highly visible for many markets. (gaming industry, ecommerce etc.)
i suppose you can soon even interchange Bitcoin for AmazonCoin.

[beetcoin]

i love being part of something that can be a possible historic paradigm shift in mankind. the making money part doesn't hurt too much either.

[crazy_rabbit]

How big can the precious numbers market possibly be?

Honest question: Is $10,000 possible in 2014?

Who knows. I hope so, but that sort of increase in price isn't healthy if companies are developing things for bitcoin at the same pace. Speculation with no development of infrastructure isn't good for bitcoin.

[beetcoin]

How big can the precious numbers market possibly be?

Honest question: Is $10,000 possible in 2014?

Who knows. I hope so, but that sort of increase in price isn't healthy if companies are developing things for bitcoin at the same pace. Speculation with no development of infrastructure isn't good for bitcoin.

all we need is just for a major retailer to jump in the pool. that'll start the singularity of the next phase (whatever it is). most investments would be speculation, but it would at the same time make bitcoin a legitimate world currency.

[justusranvier]

all we need is just for a major retailer to jump in the pool. that'll start the singularity of the next phase (whatever it is). most investments would be speculation, but it would at the same time make bitcoin a legitimate world currency.

What's going to happen is that first exporters are going to start insisting on payment in Bitcoin instead of Dollars.

Then the retailers will get onboard by necessity.

[beetcoin]

all we need is just for a major retailer to jump in the pool. that'll start the singularity of the next phase (whatever it is). most investments would be speculation, but it would at the same time make bitcoin a legitimate world currency.

What's going to happen is that first exporters are going to start insisting on payment in Bitcoin instead of Dollars.

Then the retailers will get onboard by necessity.

there is more reason, at least for me, to believe that bitcoin will be accepted by a major retailer.. we're already hearing tons of chatter about ebay/newegg/amazon/tigerdirect accepting BTC.

btw, what is the reason why exporters would want to transact with btc vs.the dollar? my angle with retailers, transactions would cost them significantly less than dealing with paypal/visa or whatever the establishment is. if the retailers could recoup 99% of their revenues vs. 98% (with the status quo 3rd parties).. it would be a huge paradigm shift since retailers make such small margins that 1% would be insane.

[justusranvier]

there is more reason, at least for me, to believe that bitcoin will be accepted by a major retailer.. we're already hearing tons of chatter about ebay/newegg/amazon/tigerdirect accepting BTC.

The company to watch is Wal Mart.

[notme]

all we need is just for a major retailer to jump in the pool. that'll start the singularity of the next phase (whatever it is). most investments would be speculation, but it would at the same time make bitcoin a legitimate world currency.

What's going to happen is that first exporters are going to start insisting on payment in Bitcoin instead of Dollars.

Then the retailers will get onboard by necessity.

there is more reason, at least for me, to believe that bitcoin will be accepted by a major retailer.. we're already hearing tons of chatter about ebay/newegg/amazon/tigerdirect accepting BTC.

btw, what is the reason why exporters would want to transact with btc vs.the dollar? my angle with retailers, transactions would cost them significantly less than dealing with paypal/visa or whatever the establishment is. if the retailers could recoup 99% of their revenues vs. 98% (with the status quo 3rd parties).. it would be a huge paradigm shift since retailers make such small margins that 1% would be insane.

Do you think international money transfers and currency conversions are any cheaper than visa transactions?

[SheHadMANHands]

How big can the precious numbers market possibly be?

Honest question: Is $10,000 possible in 2014?

Would it be overly optimistic to call 10k in 2014 (at least as probable)?

10k in 2014.   

Assuming we don't go to zero, of course..