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

[Peter R]

We do need to get the mBTC switch underway.   I run into so many(most) who can't wrap their minds around the concept of being able to buy fractions, they all want to buy whole amounts, and even at $140 and $300 they were saying they were expensive.   They don't think those amounts are expensive anymore, but can't seem to realize that at some point, $1k will seem cheap too.

This has been debated to death for good reason: the public doesn't "get" that the decimal point is arbitrary.  Come on exchanges: just cite the price in mBTC and we'll find out soon enough what the new unit is called.  

It shall be called a "Million".

So one-hundred-thousand Satoshi's should be called a Million?  

[aminorex]

Remember, every person, without exception, who is calling for major drops in price, has sold at least a portion of their stash and are wanting YOU to sell your coins to them for cheap.

You left out those with no stake in Bitcoin who just like trolling.

I used to absolutely hate seeing dips.  Now, I see them as a way to kick out the weaklings.  What doesn't kill BTC seems to make it stronger.

Or are people who think the current price is not supported by the vast majority of the potential market... It isn't just about wanting to buy coins cheaper.

No one could be that dumb!

[Vigil]

Remember, every person, without exception, who is calling for major drops in price, has sold at least a portion of their stash and are wanting YOU to sell your coins to them for cheap.

You left out those with no stake in Bitcoin who just like trolling.

I used to absolutely hate seeing dips.  Now, I see them as a way to kick out the weaklings.  What doesn't kill BTC seems to make it stronger.

Or are people who think the current price is not supported by the vast majority of the potential market... It isn't just about wanting to buy coins cheaper.

Some people are very much bothered by speculation in this forum.

Yep. Either you believe the price is going to endlessly travel upwards from here or you are a troll. A lot of these guys who want the price to go up have admitted to not selling at the highs and are just holding. What do they care if the price is to temporarily go up to $1200 again if they aren't going to take profit?

[seleme]

For all you noobs who think bitcoin is crashing down every time we drop a bit, I suggest you go research what retracement is.   We are firmly entrenched in a 48 hour up trend.   If the bears can muster some bad news, maybe we could dip again, but most who were going to panic did.   If we could stay between $800 and $1k for a while, that would be best, the longer we are here the more confidence is built for another leg up.   Remember, every person, without exception, who is calling for major drops in price, has sold at least a portion of their stash and are wanting YOU to sell your coins to them for cheap.

Yep, that's right. If you only stripped out high morality from your post and wrote:

"Remember, every person, without exception, who is calling for major rise in the price, is wanting you or anyone else to buy more so his net worth would be bigger and so he could eventually dump at satisfying point",

than everything would be all right.

But though I wouldn't mind price to go down so I could spend fiat I hold, I wouldn't definitely mind it to go up too if next dip would lead to another one and another one. I want bitcoin high even if that would mean some kind of loss for my current partial fiat position.

[aminorex]

It shall be called a "Million".

So one-hundred-thousand Satoshi's should be called a Million?  

And a vast horde of newly minted millionaires would spring like calves first from the stable cavorting in their glee.

[mb300sd]

Remember, every person, without exception, who is calling for major drops in price, has sold at least a portion of their stash and are wanting YOU to sell your coins to them for cheap.

You left out those with no stake in Bitcoin who just like trolling.

I used to absolutely hate seeing dips.  Now, I see them as a way to kick out the weaklings.  What doesn't kill BTC seems to make it stronger.

Or are people who think the current price is not supported by the vast majority of the potential market... It isn't just about wanting to buy coins cheaper.

Some people are very much bothered by speculation in this forum.

Yep. Either you believe the price is going to endlessly travel upwards from here or you are a troll. A lot of these guys who want the price to go up have admitted to not selling at the highs and are just holding. What do they care if the price is to temporarily go up to $1200 again if they aren't going to take profit?

I've long admitted to being a long term holder, but there is a price that I would sell a significant percentage of my stash off at, and we are close to being within an order of magnitude of that number now.

[nrd525]

Things will get interesting if bitcoinica recovers its 64,000 BTC from MtGox.

And especially if the liquidator sells them at market value.

There is apparently a little progress being made.

Of course if you only use Technical Analysis, you should ignore this problem =)

[aminorex]

There are as many reasons to desire things to be different than they are as there are persons who see things other than they would that they were.  A clever man once said something akin to this:  Everyone may be entitled to their own opinion, but they are not entitled to their own facts.

[Vigil]

It shall be called a "Million".

So one-hundred-thousand Satoshi's should be called a Million?  

Like Milli-yon. Not like 1 million satoshis.

[Vigil]

Remember, every person, without exception, who is calling for major drops in price, has sold at least a portion of their stash and are wanting YOU to sell your coins to them for cheap.

You left out those with no stake in Bitcoin who just like trolling.

I used to absolutely hate seeing dips.  Now, I see them as a way to kick out the weaklings.  What doesn't kill BTC seems to make it stronger.

Or are people who think the current price is not supported by the vast majority of the potential market... It isn't just about wanting to buy coins cheaper.

Some people are very much bothered by speculation in this forum.

Yep. Either you believe the price is going to endlessly travel upwards from here or you are a troll. A lot of these guys who want the price to go up have admitted to not selling at the highs and are just holding. What do they care if the price is to temporarily go up to $1200 again if they aren't going to take profit?

I've long admitted to being a long term holder, but there is a price that I would sell a significant percentage of my stash off at, and we are close to being within an order of magnitude of that number now.

The only reason to ever sell-off bitcoin is to buy more bitcoin or buy something you can't yet buy with bitcoin. To just cash out into paper is insanity.

[Vigil]

Look at them... they are still trying to push this over $1000. These people are mentally ill.

[simonk83]

Look at them... they are still trying to push this over $1000. These people are mentally ill.

Give it a rest champ.

[tHash]

Does anyone know if BitPay does any selling at all at Gox anymore?

[Odrec]

I have to admit that I'm also waiting for a price to cash out but the beauty of it is that by the time that price range arrives bitcoin is going to be consolidated enough for me to not have to cash out. I imagine many people will be in that same situation.

[traderCJ]

Look at them... they are still trying to push this over $1000. These people are mentally ill.

Just like they pushed it down to $600 a few days ago?  Are they mentally ill for doing that, too?

[nanobtc]

I think the Excited Train Guy on autotune, with music is better.

[macsga]

So, you people choo-choo-ed all night eh? 

[seleme]

Where exactly do you think the money went from 200,000+BTC being sold went?  Gox wrote a 225,000,000$ check huh?  The money is waiting to re-enter, just like you are, but you apparently aren't going to like the cost of re-entry.

Well, if they are re-entering now, they shouldn't exit at all.

[Peter R]

I've long admitted to being a long term holder, but there is a price that I would sell a significant percentage of my stash off at, and we are close to being within an order of magnitude of that number now.

mb300sd, why wait for a specific price to sell most/all?  Why not continually sell as the price goes up using something like the SSS divestment plan (https://bitcointalk.org/index.php?topic=345065.0)?  This way, if bitcoin eventually fails, you still do well, and if it becomes a dominant currency, you do extremely well.  By adjusting your rake % you can shift the balance between more fiat early on or more wealth should BTC succeed.  

[FNG]

Front page LA Times...time to buckle up

http://www.reddit.com/r/Bitcoin/comments/1siy7d/la_times_today/