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

[T.Stuart]

When the snowball starts rolling, it will roll and all the air will be pressed from the balloon...

Kinda poetic 

Yup. 

Actually I am so horrified that I withdrew the highest bid away from the markets.

Thanks for sharing your feelings with us.

[Richy_T]

The reason people don't understand Bitcoin is that we get too caught-up in the details instead of just saying "its a currency and payment system that gets rid of all those fees you pay with Paypal and credit cards. Here, you set it up like this (download Electrum wallet, then send them some coin and have them send it back to you). There, thats all there is to it. If you want to buy coins setup an account on Coinbase (or other). If you want to accept Bitcoins for your business, setup an account on BitPay and they will instantly be converted to USD. Later."

How we explain it: "Bitcoin is a decentralized, P2P, crypto-currency which allows near anonymous world-wide exchange of value between any two parties. For the first time ever, two people don't need a bank account or a middle-man to transact. Bitcoin is secured by cryptography and miners that crunch numbers to verify the blockchain. The blockchain is a decentralized public ledger which records all transactions. Everytime a transaction is made various nodes confirm the transactions, which eventually get validated once and for all once the miners find the proper cryptographic hash... Bitcoin is going to change the world forever and end the banking monopoly on money and credit and much like email ransacked the post office. etc. etc. "

Exactly. When I'm showing people Bitcoin, I have them download a wallet (Bitcoinspinner) to their phone and send them .01 BTC. Done in two minutes. I let them keep the BTC too, that gives them something in the back of their mind to consider.

That is the core of Bitcoin. Everything else is just incidentals and 90% of the issues with Bitcoin are fiat issues. Don't over-complicate things, don't get into the weeds unless asked. If you were asked to explain a TV to someone, you wouldn't start out with Maxwell's equations and a lecture on light polarization, you'd switch it on and throw a movie (or sports if such is their thing) on.

[Jomppe]

When the snowball starts rolling, it will roll and all the air will be pressed from the balloon...

Kinda poetic 

Yup. 

Actually I am so horrified that I withdrew the highest bid away from the markets.

Thanks for sharing your feelings with us.

No problem, any time! 

[Richy_T]

It'll be interesting to see how much pure hype can propel a fad.

It'll be interesting to see what happens when one of these altcoins collapses utterly and what kind of domino effect it will have and how far up the chain it will go.

[samson]

It'll be interesting to see how much pure hype can propel a fad.

It'll be interesting to see what happens when one of these altcoins collapses utterly and what kind of domino effect it will have and how far up the chain it will go.

LOL, are you trying to infer an altcoin has never 'collapsed' before ?

[ChrisML]

It'll be interesting to see how much pure hype can propel a fad.

It'll be interesting to see what happens when one of these altcoins collapses utterly and what kind of domino effect it will have and how far up the chain it will go.

Even funnier if BTC collapses and altcoins take over.

So much wow.

[seljo]

Bitstamp is moving

So we started halucinating... the only thing moving this weekend are those damn gifs... started working again... hope for a calm before the storm scenario...

[ChartBuddy]

[oroboras]

If you had a million of them now what would you do?  Would you sell them on a spike or hope for the improbable but possible drastic rise?

Cheers!

lol, I sold 3 million at 9 satoshi each.....
I didn't expect it to explode like it did.

I feel like someone who bought Pizza with BTC in the early days. If I'd waited a week, I could have made 4btc more.

Still, it made me 0.27btc - not bad for a day or two's mining. No use crying over spilled dogemilk

Flip a coin.

You will know what you really want to do while the coin is in the air.

What would I do now? I'd sell them right now, lol - I doubt they will climb much more.
I do have 65k still, on a sell order for (15k) 100satoshi, and (50k) 500satoshi, in case I forget about them, and they actually do go up in price - or as a stopgap until I really want to get rid.

[T.Stuart]

China has been the only exchange dumping today

the rest to follow?

Really? How long ago? That's good if we didn't follow - a sign that "de-coupling" is starting to seep into the western Bitcoiner's mindset! 

[Buffer Overflow]

It'll be interesting to see how much pure hype can propel a fad.

It'll be interesting to see what happens when one of these altcoins collapses utterly and what kind of domino effect it will have and how far up the chain it will go.

Even funnier if BTC collapses and altcoins take over.

So much wow.

Take over what?

[solex]

It'll be interesting to see how much pure hype can propel a fad.

It'll be interesting to see what happens when one of these altcoins collapses utterly and what kind of domino effect it will have and how far up the chain it will go.

This has already happened. Chinacoin was launched 6 months ago,  difficulty soared, people sold out, lost interest, Cryptsy delisted it. Now it is back again and Cryptsy has relisted it. I think the alt-coins are here to stay, but whether any finally get widespread merchant acceptance is the big question.

[Sitarow]

Edit: 54,327BTC = 2173 Block reward subsidy of 25BTC each, or 15 days worth of mining subsidy from the bitcoin network.

[dc0ded]

This is a really interesting thread. One of the most interesting ones I have seen on bitcointalk.

[Richy_T]

It'll be interesting to see how much pure hype can propel a fad.

It'll be interesting to see what happens when one of these altcoins collapses utterly and what kind of domino effect it will have and how far up the chain it will go.

LOL, are you trying to infer an altcoin has never 'collapsed' before ?

Don't know. I've never really paid them any attention.

[niothor]

It'll be interesting to see how much pure hype can propel a fad.

It'll be interesting to see what happens when one of these altcoins collapses utterly and what kind of domino effect it will have and how far up the chain it will go.

Even funnier if BTC collapses and altcoins take over.

So much wow.

These altcoins?

Man really?

[pera]

new phase on macd and ema 6h looks like it's about to cross, but we had some recovery, feelings?

[macsga]

new phase on macd and ema 6h looks like it's about to cross, but we had some recovery, feelings?

I say up. The volume on the other hand... 

[oda.krell]

Still waiting for that crash, huh guys?

Not impossible, but slightly less likely since yesterday, buying pressure appears to be increasing.

[ChartBuddy]