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

[Erdogan]

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.

Correctly observed. It is so bad, in fact, that the assets that the people (who know about the diminishing value of saved fiat) use to park their savings, houses, stocks and bonds, take on exchange value in addition to their intrinsic value, in effect becoming money to some degree. These are the bubbles, Mr. Greenspan. They pop when better money become available. In a sense, you could say that the exchange value is the bubbly value. Conclusion: All moneys are bubbles, they pop when better money arises.

[micalith]

Too few who have sold are biting this bait. calling the whales's bluff

[SheHadMANHands]

Too few who have sold are biting this bait. calling the whales's bluff

Them ass walls be hurtin fo a squartin.

EDIT:  **ask walls

[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  

Is The Universe sustainable ? :-)

The Universe is a Ponzi scheme with no intrinsic value. It is not backed by anything.

[tomatitotarifa]

guys chill out, love more, hate less

Nice joint, eh?  

[kurious]

Tumbleweed time... very quiet - big money waitin' for us to sleep before it moves again?

Bitcoin is never this quiet for long....

[ChartBuddy]

[CryptStorm]

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

still trying to sort out the figure out how why anyone would want a tractor less than a car but i'm pretty happy with the girlfriend

FTFY  

PS How much acreage are you planning to get? I want 40 if it's possible, enough to have a major garden, a small orchard and plenty of smart use-space to cultivate my inner thoughts. I like the quiet if I can get it.

[VincentX]

A central tenet of economics:

Investment is foregone consumption.

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

Simple.

Even more plain: we prefer to use our stuff for longterm production instead of momentary consumption.

Eat less grain now and plant more crops so we can feed more people next year.



Central bankers make for bad farmers.  

[CryptStorm]

guys chill out, love more, hate less

Nice joint, eh?  

Yeah, I had to smoke one this morning-- been a major turning point, exits are closing up, looking at the 'arm of death' (if it's even real), yet again. A much needed change of seasons, IMO. Winter must always come. Here at my in-laws *he lives at even more tenuous in-law unit!!?* it snowed here last night. I'd be surprised if we are heading back to the uptrend. Happy holidays a little early folks! 

[MickeyT2008]

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:)

allot of members here are married and have kids and independent life

My sofa was okay until the dog started eating it.  However, I don't live with my parents, I moved out 24 years ago.  As for the girlfriend, she's an ex and we get on much better that way.

My car might not have cost more than $1000 but I have a double decker bus kitted out as a living vehicle which did.  (I also have a house)(rented, not mine)

[CryptStorm]

Could someone please comment on where they feel the exchange handles shorting well-- I'm asking whether Cavitrex (sp?) and vitrex (sp?) are the best/only game in town to participate in the 'other' successful trade (shorting)?

Thanks in advance. 

[DaRude]

Tumbleweed time... very quiet - big money waitin' for us to sleep before it moves again?

Bitcoin is never this quiet for long....

Looked at chart and saw a 500 sell order right  after i read this. Are you trying to anger the BTC gods?

[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 ? :-)

The Universe is a Ponzi scheme with no intrinsic value. It is not backed by anything.

:-) It does not even have 2^256 atoms.

[kurious]

Tumbleweed time... very quiet - big money waitin' for us to sleep before it moves again?

Bitcoin is never this quiet for long....

Looked at chart and saw a 500 sell order right  after i read this. Are you trying to anger the BTC gods?

Nope - just perfectly timed

[Erdogan]

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.

Saving is good, hoarding like a lunatic is not.

Confession: My name (pseudonym) is Erdogan, and I am addicted to the austrian economics.

Everything that is produced, has to be consumed or invested (in capital goods). When you buy a car, you pay with your work. Or, even easier to understand: when a farmer buys a pair of rubber boots, he really pays with potatoes. The money is just oil in the trading machinery. Money has to be maximally tradable, and it has to keep its value in the short run and the long run.

The two main functions of money, medium of exchange and store of value, are closely related, and you can not have the one, and not the other.

When you save money, you let other people consume what you do not consume. All saving is for the purpose of spending later. Tomorrow, next summer, when you retire, or by your descendants in the next few generations.

Hoarding is just a derogtive name for for saving, and the hate is undeserved. What is bad with letting some needy child getting in front of you in the toilette queue?

The savers (hoarders) deserve to be able to spend the full value of their savings when they later decide to spend.

With bitcoin, of course, you will be able to spend more. That is because bitcoin, the new money, is in the implementation phase. When you save in bitcoin, you do not just save, you are also an entrepreneur. You are paid for your knowledge and vision, by giving the world a better money.

The bitcoiners saw all that they had made, and it was very good.

[kurious]

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.

Saving is good, hoarding like a lunatic is not.

Confession: My name (pseudonym) is Erdogan, and I am addicted to the austrian economics.

Everything that is produced, has to be consumed or invested (in capital goods). When you buy a car, you pay with your work. Or, even easier to understand: when a farmer buys a pair of rubber boots, he really pays with potatoes. The money is just oil in the trading machinery. Money has to be maximally tradable, and it has to keep its value in the short run and the long run.

The two main functions of money, medium of exchange and store of value, are closely related, and you can not have the one, and not the other.

When you save money, you let other people consume what you do not consume. All saving is for the purpose of spending later. Tomorrow, next summer, when you retire, or by your descendants in the next few generations.

Hoarding is just a derogtive name for for saving, and the hate is undeserved. What is bad with letting some needy child getting in front of you in the toilette queue?

The savers (hoarders) deserve to be able to spend the full value of their savings when they later decide to spend.

With bitcoin, of course, you will be able to spend more. That is because bitcoin, the new money, is in the implementation phase. When you save in bitcoin, you do not just save, you are also an entrepreneur. You are paid for your knowledge and vision, by giving the world a better money.

The bitcoiners saw all that they had made, and it was very good.

Agree with some of the economics (although I am a Keynesian).

However, we are not gods - we are believers.  There is a difference.

[600watt]

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 ? :-)

The Universe is a Ponzi scheme with no intrinsic value. It is not backed by anything.

:-) It does not even have 2^256 atoms.

yeah, and where it came from and what will happen to it is pure speculation. lately they are even rumors about multiverses. (alts ?)

[Erdogan]

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.

Saving is good, hoarding like a lunatic is not.

Confession: My name (pseudonym) is Erdogan, and I am addicted to the austrian economics.

Everything that is produced, has to be consumed or invested (in capital goods). When you buy a car, you pay with your work. Or, even easier to understand: when a farmer buys a pair of rubber boots, he really pays with potatoes. The money is just oil in the trading machinery. Money has to be maximally tradable, and it has to keep its value in the short run and the long run.

The two main functions of money, medium of exchange and store of value, are closely related, and you can not have the one, and not the other.

When you save money, you let other people consume what you do not consume. All saving is for the purpose of spending later. Tomorrow, next summer, when you retire, or by your descendants in the next few generations.

Hoarding is just a derogtive name for for saving, and the hate is undeserved. What is bad with letting some needy child getting in front of you in the toilette queue?

The savers (hoarders) deserve to be able to spend the full value of their savings when they later decide to spend.

With bitcoin, of course, you will be able to spend more. That is because bitcoin, the new money, is in the implementation phase. When you save in bitcoin, you do not just save, you are also an entrepreneur. You are paid for your knowledge and vision, by giving the world a better money.

The bitcoiners saw all that they had made, and it was very good.

Agree with some of the economics (although I am a Keynesian).

However, we are not gods - we are believers.  There is a difference.

Hehe, nonbeliever here, I just had to loan and adapt this elegant phrase from the bible.

[Jamievs]

Hm hugh sell wall keeping price down on bitstamp. If it goes down it can go straight to 750 again.

Gotta love these games