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

[Voodah]

What I'd like to know is the influence of new people learning about bitcoin every day and buying in, as a factor with how many new bitcoins are mined every day, and how those affect the price's likelihood of climbing up overall. For example, is there a viral factor to this, which is impacted by good/bad press, and by how much?

Sometimes I use "bitcoin" as a key word in a Twitter search and it seems the number of tweets per 10 seconds is going up, with more progressive questioning overtaking Business Insider-type bashing. How much influence does that have on whether the price will indeed go up over time, and by how much?

You have to go read up on Bitcoin fundamentals, and particularly mining, if that's what interests you.

The amount of Bitcoins mined per day stays the same. In layman's terms, the protocol has a self adjusting difficulty algorithm: when more people mine, mining difficulty increases, and viceversa. This is supposed to ensure a steady amount of Bitcoins (currently 25 per new block) minted every 10 minutes.

(this a great over-simplification; do go and read up Satoshi's paper and the wiki)

[jojo69]

Highly recommend for everyone:

Bitcoin Neutrality - Andreas Antonopoulos
http://www.youtube.com/watch?v=jy6XIBnThpY&feature=youtu.be

This was two weeks ago here in Argentina. This guy is a beast. He was the best speaker of the conference.

Great vid Voodah,

Thanks!

TD of that video production has a thing for the geek girls

[dgarcia]

Never go ALL IN/OUT in a single trade.  If you are tempting take 2-5% of your stash and make bet. :-) ... you will see. Only gambler goes ALL IN/OUT  and sooner or later will lose all in a single bet.

It is always gambling, no matter if full Fiat, full BTC or you split.

[mbets]

SilkRoad 2 guy arrested in Ireland. FBI got another 200k EUR worth of bitcoins.

FBI can buy themselves a Lambo now

[adamstgBit]

-What time is it?
-IT'S TEH DUMP TIME

what time is it now? 

[capsqrl]

http://www.forbes.com/sites/andygreenberg/2013/12/20/at-least-two-moderators-of-the-silk-road-2-0-drug-site-forums-arrested/

[Voodah]

Highly recommend for everyone:

Bitcoin Neutrality - Andreas Antonopoulos
http://www.youtube.com/watch?v=jy6XIBnThpY&feature=youtu.be

This was two weeks ago here in Argentina. This guy is a beast. He was the best speaker of the conference.

Great vid Voodah,

Thanks!

TD of that video production has a thing for the geek girls

Good luck finding non-geek girls in a Bitcoin conference... (except Vorhees' but who knows? maybe she is a geek too?)

[seljo]

Someone is not hodling! 

[QuestionAuthority]

Highly recommend for everyone:

Bitcoin Neutrality - Andreas Antonopoulos
http://www.youtube.com/watch?v=jy6XIBnThpY&feature=youtu.be

This was two weeks ago here in Argentina. This guy is a beast. He was the best speaker of the conference.

Great vid Voodah,

Thanks!

TD of that video production has a thing for the geek girls

Good luck finding non-geek girls in a Bitcoin conference... (except Vorhees' but who knows? maybe she is a geek too?)

Are you calling Erik Voorhees a girl. lol

[Four-Rings-Workshop]

You guys crack me up. Been reading this thread for the last few days and it moves really fast!!

Anyways, I am waiting to be verified with bitstamp and wanted to make a prediction today,
so just for fun when I got to work at 9 am PST I looked at the charts and preditced :

12pm PST : 715@gox
5pm PST : 675@gox

Just my total amateur guesses, but what the heck. This is the speculation forum right?

Looks like i might not be too far off........

[jojo69]

wow, that is a dynamite talk, everyone should invest the 37 min

[Odalv]

While its tempting to trade, i always remind myself that i ll just get owned by bots if i'll attempt to open/close position within 1-5 minutes.

For some reason for a bad traders like myself bottom looks extremely tempting to sell

Never go ALL IN/OUT in a single trade.  If you are tempting take 2-5% of your stash and make bet. :-) ... you will see. Only gambler goes ALL IN/OUT  and sooner or later will lose all in a single bet.

in bitcoin you can always buy back with a loss

Usually you can but I'm not sure if always.

[EuroTrash]

SilkRoad 2 guy arrested in Ireland. FBI got another 200k EUR worth of bitcoins.

FBI has no jurisdiction to seize coins in Ireland. Any link with specific details of the seizure please please please...?

[adamstgBit]

SilkRoad 2 guy arrested in Ireland. FBI got another 200k EUR worth of bitcoins.

FBI has no jurisdiction to seize coins in Ireland. Any link with specific details of the seizure please please please...?

i agree, hmmm, interesting.

altho they cought the guy, and they found the wallet

finders keepers?

[seljo]

SilkRoad 2 guy arrested in Ireland. FBI got another 200k EUR worth of bitcoins.

So fbi is not hodling much?

[CryptStorm]

Highly recommend for everyone:

Bitcoin Neutrality - Andreas Antonopoulos
http://www.youtube.com/watch?v=jy6XIBnThpY&feature=youtu.be

This was two weeks ago here in Argentina. This guy is a beast. He was the best speaker of the conference.

Great vid Voodah,

Thanks!

TD of that video production has a thing for the geek girls

HAHAHAAA +1 Yeah, that was a bit creeperz-- much wow, such profit

[TheCoinBull]

FBI actually does what ever the hell they please, anything they cant do public they have mercenary agents for...

[Walter Rothbard]

Sudden dump, i wonder if it will break the 710-705 level

A 1000XBT wall near 4000CNY is just pulled. Pump and dump

I really hate the XBT nomenclature.. Where did it come from?

It comes from some ISO standard that says that non-national currencies will have three character symbols that start with X.

I say let's buck the idea that national currencies should have preeminence.  Make the very use of the symbol BTC part of the revolution.

[Walter Rothbard]

You mean memes with homophobic slurs so we look like a bunch of narrow minded biggots? Or am I missing something. You should be ashamed.

http://www.youtube.com/watch?v=Fcja4WFFzDw

Am I the only one here who thinks being gay is wrong, or aka not what god intended. I man common, god really created Man to bang another Man...

How would that justify disrespectful name-calling, though?

[fotosonics]

What I'd like to know is the influence of new people learning about bitcoin every day and buying in, as a factor with how many new bitcoins are mined every day, and how those affect the price's likelihood of climbing up overall. For example, is there a viral factor to this, which is impacted by good/bad press, and by how much?

Sometimes I use "bitcoin" as a key word in a Twitter search and it seems the number of tweets per 10 seconds is going up, with more progressive questioning overtaking Business Insider-type bashing. How much influence does that have on whether the price will indeed go up over time, and by how much?

You have to go read up on Bitcoin fundamentals, and particularly mining, if that's what interests you.

The amount of Bitcoins mined per day stays the same. In layman's terms, the protocol has a self adjusting difficulty algorithm: when more people mine, mining difficulty increases, and viceversa. This is supposed to ensure a steady amount of Bitcoins (currently 25 per new block) minted every 10 minutes.

(this a great over-simplification; do go and read up Satoshi's paper and the wiki)

More interested in what it means for the price. I'll come right out & ask, will the growth in adopters grow exponentially, and how will this affect price -- given the steady rate of new bitcoins mined with a cutoff at 21m?

As for good press continuing to outweigh the bad, I think this is due to the simple fact of human nature: greed, people only want to see the positive (why happy bubble gum Star Wars was so much more successful than deep thought dystopian Blade Runner for example).

Incidentally I sense an increase in adopters as a contributing factor to an increase from current hover around stamp 650...