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

[rocks]

Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  )

The is the argument against a gold (or bitcoin) standard by the FED and banking status quo.

Under today's credit fiat system, it makes no sense to "save" money in currency since it continuously inflates. Instead savers are suppose to invest the money into businesses, capital spending, stocks, etc.

The problem is today no one saves this way, instead savers (those with disposable income over expenses) spend money frivolously on vacations/restaurants/crap instead of saving for the long term, and many of those who do invest do so in bubble type assets (i.e. large houses).

The fiat credit system is suppose to work in theory, but in practice it obviously does not. Hence bitcoin. It provides a real escape for true savers.

[kurious]

I am beginning to wonder if I am the only person here who does not live his parents, has a car which cost more than a thousand bucks, a nice sofa and er.... a girlfriend.

Maybe I am not nerdy enough and that's why I have not go as many coins as others seems to have

No , you're not:)

I will have to try harder - I think if I keep spending as much time as I have done watching the screen, I might be single before too long.

Also - to be fair - when she said 'why don't you sell them, then?' when I showed here they were over 1200 a pop, she now thinks she was right.

I want to be right but not sure I want to be single...

She will forgive you, and might even say "You were right" when the price gets to $2000.    

She might, I just hope the price will oblige and look after that.

EDIT: It might cost me a car, though.  For her

[BitChick]

The real indicator that the crash is over is that this thread switched to talking about cars and girlfriends.

I don't see anyone bragging about their cars or girlfriends , so the atmosphere is still gloomy

BitChicksHusband is not online right now but he just bought a Mercedes CLA.  I will brag for him.  It is pretty nice.  We did not pay for it in BTC though.  I learned from some of the mistakes of a few posters on this board that it is not a wise thing to spend BTC on over the long haul so we will have a nice little car payment for a while. As for girlfriends, he doesn't have a "girlfriend" to talk about though, unless I count.  

[kurious]

The real indicator that the crash is over is that this thread switched to talking about cars and girlfriends.

I don't see anyone bragging about their cars or girlfriends , so the atmosphere is still gloomy

BitChicksHusband is not online right now but he just bought a Mercedes CLA.  I will brag for him.  It is pretty nice.  We did not pay for it in BTC though.  I learned from some of the mistakes of a few posters on this board that it is not a wise thing to spend BTC on over the long haul so we will have a nice little car payment for a while. As for girlfriends, he doesn't have a "girlfriend" to talk about though, unless I count.  

Of course you do

[justusranvier]

Saving is good, hoarding like a lunatic is not.

The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

[kurious]

Saving is good, hoarding like a lunatic is not.

The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

+1

Fine libertarian spirit.

[Jamievs]

Well, things are looking healthy, imo. What do you guys think? Another bull trap?

I think this is a good price. I'm afraid to sell as the chance of going down again is getting slimmer and slimmer.

Not sure. If you look at the bitstamp orderbook it takes just 28 BTC to make the price drop 30 $

[mb300sd]

Well, things are looking healthy, imo. What do you guys think? Another bull trap?

I think this is a good price. I'm afraid to sell as the chance of going down again is getting slimmer and slimmer.

i could care less if the price of btc was $500 to $750 for 3 or 4 months. us long term holders know it will go to $10,000 sooner or later and we dont really care about things short term.

+1

[Spaceman_Spiff]

Saving is good, hoarding like a lunatic is not.

The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

True. But if everybody in the world was hoarding like a maniac, there wouldn't be any economy, any jobs, any leisures.

Where exactly is the boundary between saving and hoarding?  And who decides that?

[Odalv]

Saving is good, hoarding like a lunatic is not.

The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

+1

Fine libertarian spirit.

+1

Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)

[ElectricMucus]

Saving is good, hoarding like a lunatic is not.

The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

Famous last words.

[ErisDiscordia]

Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)

You just provided me with a new way to reply to people saying Bitcoin is a bubble. Thank you  

[Odalv]

Did you know our universe is one big bubble inflating from nothing to infinity at the speed of light ? :-)

You just provided me with a new way to reply to people saying Bitcoin is a bubble. Thank you  

Is The Universe sustainable ? :-)

[niothor]

Hey , did that thing called price we were supposed to talk just moved?

[adamstgBit]

Hey , did that thing called price we were supposed to talk just moved?

ya damn my bid are no longer getting filled

wake up poeple,  its the end of bitcoin,  sell them sell them now!

[kurious]

A central tenet of economics:

Investment is foregone consumption.

In plain English - we have to give up spending to have something to save.

Simple.

[niothor]

Hey , did that thing called price we were supposed to talk just moved?

ya damn my bid are no longer getting filled

wake up poeple,  its the end of bitcoin,  sell them sell them now!

In adamanian  it means BUY BUY BUY!

[Erdogan]

I have a 12 year old Renault Scenic works as charm, I love the cheap parts if I have to repair anything, however I own this car for sometime I hadn't to repair anything except the check that I have each 15000 KM and maybe the brakes I had to change.

my wife want even a bigger car, but I am not even thinking about changing this one, it is working and it is serving its purpose.

Same here, I own a 13 year old Honda Civic since 3 years now. Never had anything break on it, cheap as fuk to drive around in...

Beats me why I would spend hard earned money on a status symbol like a fancy car. Even if I was rich i'd probably go for something midrange than a Ferrari or Porsche...

I wouldn't be surprised if this is a somewhat general characteristic of a typical 'bitcoiner'.  I have got a bunch of second-hand furniture, because it looks ok, does the job, and costs way less than new stuff.  Don't have a car either.  I would much rather invest the money that I save by doing so, in the hopes of becoming less dependent on income from my job, and doing only what I feel like doing.

Bolded part might be on to something. Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system  )

Not only does it encourage savings it encourages careful treatment of things including money.  People can relate to buying a tiny amount a while ago which is now worth a lot more.

It is the savers' revenge - at last.

[SheHadMANHands]

I think panic will subside.  I don't see us staying under $800 for too long..  once everyone sobers up a bit.    

[byronbb]

Saving is good, hoarding like a lunatic is not.

The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself.

True. But if everybody in the world was hoarding like a maniac, there wouldn't be any economy, any jobs, any leisures.

Everyone would starve to death.....