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

[Richy_T]

A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Quote
Oh, the 60GH single is blowin' on my feet

the $45 a day is also pretty neat

posting on the forum makes me feel very 1337

I never heard that tulips gave away free heat

blow me mods, seriously

A random ChartBuddy post was deleted the other day. *shrug*

[Coinseeker]

I don't think most of the world really cares about dollars.

FTFY    Almost 90% of the daily Forex trades ($4 Trillion +) contains USD on one side or the other.  USD remains the worlds reserve currency, so it only makes sense that BTC is and for now at least, remains paired to USD.

how much longer can this really last tho. 5-10 years?
idk
all I know is no one wants to buy US debt anymore, at least not until interest rates rise a little, but the government is hell bent on making damn sure interest rates stay low,  this is causing some really weird market behavior, the financial system is broken and everyone knows it, just no one has a clue what to do. Scary! is what it is.

I agree with you.  It can't last forever.  They do have to keep interest rates low, to keep people borrowing money. Buying that new car, boat or house.  Which people stop doing, when the economy is bad.  Thus you reduce interest rates to encourage borrowing.  This is how the majority of currency is created and it is the interest from this "imaginary" money, that makes them rich.  If people don't borrow, they can't create more money out of thin air and charge interest on it. Which in turn means they can't pay their obligations and the whole system comes crashing down.  

[DougTanner]

Big moves on Stamp.

[neutrinox]

Works fine for gold

Yes, and gold is used in day to day transactions by regular consumers all the time...  

[lucas.sev]

Works fine for gold

Yes, and gold is used in day to day transactions by regular consumers all the time...  

Bitcoin won't be used in day to day transactions by regular consumers all the time. It won't be a currency. It's a store of value thing, like gold. 

[Richy_T]

lakh

Just learned something new.

I can't condone non power-of-three multipliers though.

[Richy_T]

so at this rate when we are expected to hit $1337?
i think it's time to plan a 1337 party

First we've got to pass that bloody $1200 for longer than an hour

With volume this low its might take a while

Depth is way up though.

[Richy_T]

so at this rate when we are expected to hit $1337?
i think it's time to plan a 1337 party

Wait , we didn't have a party at 1024 )
Also we need one at 2009.

heh, I remember making a party joke at 19.99. And now we're glancing askance at 1999.

[Richy_T]

We had this debate a few days back please see link and vote on 'terms to use'?

Basically - you may want to talk of a bitcoin - but if what do you say if you want to buy a coffee?

Will they say:

"That will be 0.002 Bitcoin"

or "2 embits"

(or "milibits" / "mills" / "bits" / etc...)

Think about it?

Screw polls. Use what you think sounds best and something of a consensus will ultimately emerge.

[nagnagnag2]

is the train leaving the station? 

[2_Thumbs_Up]

I don't think most of the world really cares about dollars.

Maybe not, but most of the world HATES decimals in prices. Decimals confuse people. Would you like to see a cup of coffee cost 2 milliBits or 0.002 bitcoins? It's much easier to understand whole numbers. Also, many people think 1000 $ /bitcoin unit is too expensive. I try to tell them they can buy fractions of a bitcoin, but they hate that idea. People don't like dealing with fractions. It's basic psychology.

This is the reason I'm in favor of using the unit 'bit', where one bit would be 100 satoshis. it would be so much more marketable. Getting a fraction of a BTC for a dollar isn't very appealing, but getting ~1000 bits would sound a lot better. Bit derives naturally from bitcoin, but is still different enough that it sounds like its own unit rather than just being a word for a thousand or a millionth of a BTC.

The following quote from another thread justifies it perfectly.

+1 for 1 million bits in a coin. I feel like that would be perfect when 1 btc is in the ballpark of $10k, therefore a bit is in the ballpark of a cent. Its still workable now but its also looking forward to the future. With a 10k valuation, prices for things won't need decimal points, they'd look like dollar prices do today except without the dot which I think is very intuitive. Bits is easy to say and intuitively derives from bitcoin.

Too many names for things is confusing, especially when they can be confused with each other like milli and microbits. Now we'll have bitcoins for large sums, bits for small sums, and satoshis for the technically inclined (laymen need not worry about this term).

Bits also work if bitcoin ever reaches a valuation of a million $ each, then bits are equivalent to dollars and prices can reintroduce two numbers after a decimal point like we use now.

[nagnagnag2]

is the train leaving the station? 

ch000000000000000000 ch000000000000000000000000000000000000

seems that there is a slow commuter train ahead of us, which force us to slow down in speed

[nagnagnag2]

nice bid wall of 1275 @ 1190 on mtgox

[ChartBuddy]

[adamstgBit]

my bullishness hits a new ATH

[macsga]

Let's see this baby movin'...

[gandhibt]

my bullishness hits a new ATH

Nice see these posts once again from you =D Indeed these dips we had in this run have proved that this trend is nowhere near turning. Now all we need is a little more volume and this goes straight to 2000+.

[DougTanner]

Heading for new ATH on Stamp, and maybe Gox as well.

[Wekkel]

Someone buys 700+ coins @ Gox. Follow up: 0.0.

I declare this market dead 

[JimboToronto]

Nobody posted about the fact that BTC reached parity with gold again for a little while.