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

[tHash]

I'm getting more and more concerned that no-one here seems to want to explore or even counter the 'negative' arguments around bitcoin or crypto...I don't mind reading erudite or informed denunciations of such arguments but everyone seems awful keen to dismiss any naysayers as idiots/fools without actually making a cogent defence.

Did you have a specific concern you want addressed?   Most of us here can see right away that there is not one piece of intelligent thought put into an article like that, so dismiss it.   If there is something you have a question about, ask!   We are then more than happy to share wisdom  

[hmmmstrange]

We don't even seem to care about positive news. I just posted how any deposit amount can be confiscated in the EU and nobody cares!

This is old news. All of the EU and Canada have provisions to do "Bail In's" during the next banking crisis. Cyprus was the test case..... and it passed with flying colours.

[OldGeek]

Testing 1000 again.  Let's see if it holds.

edit:  Many buyers pulled their 10-15 btc orders from the book.

[OldGeek]

Well 1000 didn't get penetrated this time.  Trading range is too shallow to let me participate, so I bid you goodnight and good luck.

[nanobrain]

I'm getting more and more concerned that no-one here seems to want to explore or even counter the 'negative' arguments around bitcoin or crypto...I don't mind reading erudite or informed denunciations of such arguments but everyone seems awful keen to dismiss any naysayers as idiots/fools without actually making a cogent defence.

Did you have a specific concern you want addressed?   Most of us here can see right away that there is not one piece of intelligent thought put into an article like that, so dismiss it.   If there is something you have a question about, ask!   We are then more than happy to share wisdom  

I'm having a similar but more specific exchange with Marcus_of_Augustus o this thread
https://bitcointalk.org/index.php?topic=365730.new#new

My concerns are that forum members tend to dismiss negative arguments rather than take the time to counter them.  I've spent a bit of time in real world convincing friends that BTC has a future but I imagine if they came here and saw the responses from members they wouldn't be that convinced.  

Every negative article tends to generate a series of ad hom attacks: now, if you were a newcomer/visitor and you saw a respected economist/author (whatever) put their argument and the counter was "he's an idiot' from an anonymous forum member, who would you tend to believe?

There are a lot of intelligent people here but BTC's future tends to be more of an article of faith these days than solid, developing postulations.

[emanymton]

I'm getting more and more concerned that no-one here seems to want to explore or even counter the 'negative' arguments around bitcoin or crypto...I don't mind reading erudite or informed denunciations of such arguments but everyone seems awful keen to dismiss any naysayers as idiots/fools without actually making a cogent defence.

Did you have a specific concern you want addressed?   Most of us here can see right away that there is not one piece of intelligent thought put into an article like that, so dismiss it.   If there is something you have a question about, ask!   We are then more than happy to share wisdom  

I'm having a similar but more specific exchange with Marcus_of_Augustus o this thread
https://bitcointalk.org/index.php?topic=365730.new#new

My concerns are that forum members tend to dismiss negative arguments rather than take the time to counter them.  I've spent a bit of time in real world convincing friends that BTC has a future but I imagine if they came here and saw the responses from members they wouldn't be that convinced.  

Every negative article tends to generate a series of ad hom attacks: now, if you were a newcomer/visitor and you saw a respected economist/author (whatever) put their argument and the counter was "he's an idiot' from an anonymous forum member, who would you tend to believe?

There are a lot of intelligent people here but BTC's future tends to be more of an article of faith these days than solid, developing postulations.

If you've been around here you for a while you would see that people have been intelligently postulating since the beginning.
Pretty much at this stage I think the general consensus is that those arguments have been countered to death and there's no point repeating over and over.

[ChartBuddy]

[molecular]

CFO of a University in cyprus (actually a conglomerate with 8,500 students) endorses Bitcoin (they accept it for payment and have a sort of "cheaper in bitcoin" program for students from "poor countries") on Max' show. They made a proposal to the gov't of cyprus to become a Bitcoin hub and even to implement trading of Bitcoin on the cypriot stock exchange.

The work of the NEO & BEE dudes seems to bear some fruits.

I think this is quite big. Now governments of our beloved nationstates seem to be pushed by some their constituents start to compete on favorability of regulation towards Bitcoin. (see also the request by 40-some swiss parlamentarians to regulate Bitcoin as a foreign currency)

Look where Bitcoin is today and compare to when you first heard about it... be amazed!

[bootlace]

Did Keiser dump his coins?

Max Keiser ‏@maxkeiser 5m
JPM will attempt to use patent trolling (the way MPAA uses copyright trolling) to terrorize BTC users. Is BTC community up for this fight?


Max Keiser ‏@maxkeiser 9m
Based on JPM's patent trolling initiative combined with TPP global IP capability we are lowering our BTC target price from $1,700 to $1,400

[philip2000uk]

I'm getting more and more concerned that no-one here seems to want to explore or even counter the 'negative' arguments around bitcoin or crypto...I don't mind reading erudite or informed denunciations of such arguments but everyone seems awful keen to dismiss any naysayers as idiots/fools without actually making a cogent defence.

Did you have a specific concern you want addressed?   Most of us here can see right away that there is not one piece of intelligent thought put into an article like that, so dismiss it.   If there is something you have a question about, ask!   We are then more than happy to share wisdom  

I'm having a similar but more specific exchange with Marcus_of_Augustus o this thread
https://bitcointalk.org/index.php?topic=365730.new#new

My concerns are that forum members tend to dismiss negative arguments rather than take the time to counter them.  I've spent a bit of time in real world convincing friends that BTC has a future but I imagine if they came here and saw the responses from members they wouldn't be that convinced.  

Every negative article tends to generate a series of ad hom attacks: now, if you were a newcomer/visitor and you saw a respected economist/author (whatever) put their argument and the counter was "he's an idiot' from an anonymous forum member, who would you tend to believe?

There are a lot of intelligent people here but BTC's future tends to be more of an article of faith these days than solid, developing postulations.

If you've been around here you for a while you would see that people have been intelligently postulating since the beginning.
Pretty much at this stage I think the general consensus is that those arguments have been countered to death and there's no point repeating over and over.

Exactly, that's why we have libraries and now google for searches lol.

Though I am all for questions that may have been answered before if they are difficult to put into words and hard to find in searches or they want something that's time critical or is something that may have changed over time.  It's always good to re-discuss things.

[traderCJ]

Did Keiser dump his coins?

Max Keiser ‏@maxkeiser 5m
JPM will attempt to use patent trolling (the way MPAA uses copyright trolling) to terrorize BTC users. Is BTC community up for this fight?


Max Keiser ‏@maxkeiser 9m
Based on JPM's patent trolling initiative combined with TPP global IP capability we are lowering our BTC target price from $1,700 to $1,400

Hmm.  Who would they file suit against?  Cryptocoin developers themselves?

[beetcoin]

Did Keiser dump his coins?

Max Keiser ‏@maxkeiser 5m
JPM will attempt to use patent trolling (the way MPAA uses copyright trolling) to terrorize BTC users. Is BTC community up for this fight?


Max Keiser ‏@maxkeiser 9m
Based on JPM's patent trolling initiative combined with TPP global IP capability we are lowering our BTC target price from $1,700 to $1,400

Hmm.  Who would they file suit against?  Cryptocoin developers themselves?

well, i wouldn't put fear mongering past max. maybe he's genuine though, and he's just using the anger of the general public against the big banks.

[sumantso]

What has happened during the night? Could someone, please, give a short wrap-up, please?
It's the first night I held all BTC overnight, and of course, it goes down!
Oh, and good morning from Europe.

There was never too much support, and the other exchanges didn't quite participate. If gox can get another rally in tonight then nice, otherwise get ready for another long weekend.

[MAbtc]

Latest thoughts, grain of salt advised:

[seriouscoin]

Look like the correction is coming guys.... Well we're all about long term right? Its healthy to be this way. I personally hate volatility so i dont like the world media keeps talking about "bubble"

We should go up slow and steady not 15% in a day.

[fred1111]

Look like the correction is coming guys.... Well we're all about long term right? Its healthy to be this way. I personally hate volatility so i dont like the world media keeps talking about "bubble"

We should go up slow and steady not 15% in a day.

There is volatility because the price is almost exclusively speculation. That's a feature, not a bug. The speculation feeds capital indirectly into Bitcoin infrastructure.

[ChartBuddy]

[JorgeStolfi]

After you've read 100 articles written by "journalists" or even "economists" who have refused to do even a few minutes worth of research, you get burned out.

Granted that many journalists/economists do not understand the computing aspects, but on the other hand many computer people do not seem to understand economics. 

I have asked in the Economics board what would be the expected state of the "bitcoin network" 15 years from now.  No one knows what will be the value of a bitcoin, of course.  But people cannot even answer (with justification) the more basic question of whether the value will be stable, will grow of fall gradually with time, or will be as chaotic and unpredictable as it is now.

[seriouscoin]

Look like the correction is coming guys.... Well we're all about long term right? Its healthy to be this way. I personally hate volatility so i dont like the world media keeps talking about "bubble"

We should go up slow and steady not 15% in a day.

There is volatility because the price is almost exclusively speculation. That's a feature, not a bug. The speculation feeds capital indirectly into Bitcoin infrastructure.

No its not a feature or a bug.

We all all know as btc grows, volatility will go down.

[windjc]

Latest thoughts, grain of salt advised:

Not dismissing these charts, but:

A. A lot of these charts just confirm each other.
B. We have not yet broken original trendline.
C. Why does it have to be $400 or $2000? Is it not possible we could range trade between $800-$1100 for a few weeks, months, etc.?