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

[flynn]

bitcoins give me too much stress at the moment. can't hodl them for too long.

Funny, it's quite the opposite for me :

Fiat give me too much stress at the moment. can't hodl it for too long.

[ChartBuddy]

[EuroTrash]

panic bought 710 coins and then panic sold 724 coins.

bitcoins give me too much stress at the moment. can't hodl them for too long.

Go buy a Lambo if you're the legal age for driving one. That's likely more exciting than pouring your bored ego on a half dead bitcoin talk forum on NYE.

[Davyd05]

panic bought 710 coins and then panic sold 724 coins.

bitcoins give me too much stress at the moment. can't hodl them for too long.

Go buy a Lambo if you're the legal age for driving one. That's likely more exciting than pouring your bored ego on a half dead bitcoin talk forum on NYE.

+1

buy two, one for fun and another to sell later

[ChartBuddy]

[macsga]

Slow NYE. Bot's apocalypse in all exchanges...


Happy new year everyone. It's been a great one for us bitcoiners. Let's hope 2014 will be even better. Love peace and prosperity to all of you and your beloved ones.

[NewLiberty]

If major retailers, such as Overstock.com, intend to immediately convert bitcoins to fiat, then is spending bitcoins equivalent to selling on an exchange? If so, there is little incentive to spend because it adversely impacts your investment, unless sufficient new fiat is flowing into the exchanges to offset your bitcoin purchases.

2014 could turn out to be a very bad year for bulls if too many large merchants decide to accept bitcoin.  

Isn't what BitPay does with its BTC more important then what Overstock does with it? Or maybe we can start a whole new group of activists who support merchants who don't instantly covert their BTC to fiat at the POS.

Well, the point is that more merchants accepting bitcoin is typically viewed as bullish. I disagree if the merchants intend to immediately convert back to fiat. Overstock has already announced it intends to do this to avoid price volatility.

Money flow, the speed of money.
What makes a currency, is the flow of it's current.  If there is no flow, there is no currency.
More merchants make for more money flow.  So yes It is bullish, even if you disagree.
A merchant converting to fiat does not reduce that flow, it just doesn't add to it as much as when the merchant uses it in their supply chain.  Then it increases the flow further.  It is a difference between a +1 and a +2 not the difference between a 0 and a +1.

[molecular]

If major retailers, such as Overstock.com, intend to immediately convert bitcoins to fiat, then is spending bitcoins equivalent to selling on an exchange? If so, there is little incentive to spend because it adversely impacts your investment, unless sufficient new fiat is flowing into the exchanges to offset your bitcoin purchases.

2014 could turn out to be a very bad year for bulls if too many large merchants decide to accept bitcoin.  

Isn't what BitPay does with its BTC more important then what Overstock does with it? Or maybe we can start a whole new group of activists who support merchants who don't instantly covert their BTC to fiat at the POS.

Well, the point is that more merchants accepting bitcoin is typically viewed as bullish. I disagree if the merchants intend to immediately convert back to fiat. Overstock has already announced it intends to do this to avoid price volatility.

Money flow, the speed of money.
What makes a currency, is the flow of it's current.  If there is no flow, there is no currency.
More merchants make for more money flow.  So yes It is bullish, even if you disagree.
A merchant converting to fiat does not reduce that flow, it just doesn't add to it as much as when the merchant uses it in their supply chain.  Then it increases the flow further.  It is a difference between a +1 and a +2 not the difference between a 0 and a +1.

There's a german (maybe universal, don't know) saying in support of your "flow" argument: "Geld muss fliessen" (money must flow).

I view merchant adoption as bullish in the mid/long-term (for the reason NewLiberty stated and because it increases adoption/visibility), although I have to attribute some truth to what Walsoraj says (*looks at goats Lamborghini*): people that already hold BTC will be increasingly tempted to spend at merchant who will usually insta-convert to USD via a payment service provider. Not all of them buy back the spent coins, so this can have a short-term downward impact on the exchange market.

;tldr: merchant adoption may be short-term bearish, but is certainly mid-/long-term bullish.

[wachtwoord]

There's a german (maybe universal, don't know) saying in support of your "flow" argument: "Geld muss fliessen" (money must flow).

Geld moet rollen  (money should roll)

[ChartBuddy]

[NewLiberty]

Interesting discussions these last few hours.

Let me ask you, who are smarter than I, what do you think would be the effect on the western markets if, say Huobi, crashed to zero in the next 24 hours?

Silly question, but OK...
We'd buy their coins cheaply.  Some would be sold to pay for the cost (but at a cost of "zero" probably not many sold at all)

[NewLiberty]

mind you the bitcoin foundation would love it, say it legitimized bitcoin.  i think they have no reason to live if they don't file an anti-trust action against APPL.

Picking an anti-trust fight with AAPL?  Even if fun to watch it would sink them completely and gain us very little.  Bitcoin doesn't need AAPL as much as AAPL needs bitcoin.  Let them be the late adopters.

[Macno]

Does anyone know where to post that a 5 BTC withdrawal I did 3,5 hours ago on MtGox hasn`t still been processed? Their customer service does not answer yet. On Gox is does not show up as pending, but as done (in the history).

[NewLiberty]

Does anyone know where to post that a 5 BTC withdrawal I did 3,5 hours ago on MtGox hasn`t still been processed? Their customer service does not answer yet. On Gox is does not show up as pending, but as done (in the history).

There is a 136 page thread on that here:
https://bitcointalk.org/index.php?topic=179586.2700;topicseen

[macsga]

mind you the bitcoin foundation would love it, say it legitimized bitcoin.  i think they have no reason to live if they don't file an anti-trust action against APPL.

Picking an anti-trust fight with AAPL?  Even if fun to watch it would sink them completely and gain us very little.  Bitcoin doesn't need AAPL as much as AAPL needs bitcoin.  Let them be the late adopters.

Bitcoin is the means; ie: the protocol, on which applications run; like messages/monetary transactions and probably many more to come in the future. Or if you prefer "the river" that many "boats" will be floating. Whether a company (no matter how big or small) decides to (or not to) incorporate it to their marketing philosophy it's really their call. Eric Schmidt from Google yesterday said in an interview that "We should have been into social networking earlier". Maybe it's Apple's turn to pay (or not) the price for not getting into bitcoin.

This new year will really be a huge turn for Bitcoin. I'm not sure if it's $10000 or $10 by this time next year; but what I have to stand for is this: It's a brand new innovative tech that it's similar to no other. The thing we have to answer to ourselves is: Is the world ready for such a technology? Only time will tell.

[Luzio]

Does anyone know where to post that a 5 BTC withdrawal I did 3,5 hours ago on MtGox hasn`t still been processed? Their customer service does not answer yet. On Gox is does not show up as pending, but as done (in the history).

There is a thread somewhere in service discussions. Unfortunately this is normal, it happened to me quite a few times. You will have your coins tomorrow hopefully and support will reply in a week. Just stop using Gox.

[NewLiberty]

mind you the bitcoin foundation would love it, say it legitimized bitcoin.  i think they have no reason to live if they don't file an anti-trust action against APPL.

Picking an anti-trust fight with AAPL?  Even if fun to watch it would sink them completely and gain us very little.  Bitcoin doesn't need AAPL as much as AAPL needs bitcoin.  Let them be the late adopters.

Bitcoin is the means; ie: the protocol, on which applications run; like messages/monetary transactions and probably many more to come in the future. Or if you prefer "the river" that many "boats" will be floating. Whether a company (no matter how big or small) decides to (or not to) incorporate it to their marketing philosophy it's really their call. Eric Schmidt from Google yesterday said in an interview that "We should have been into social networking earlier". Maybe it's Apple's turn to pay (or not) the price for not getting into bitcoin.

This new year will really be a huge turn for Bitcoin. I'm not sure if it's $10000 or $10 by this time next year; but what I have to stand for is this: It's a brand new innovative tech that it's similar to no other. The thing we have to answer to ourselves is: Is the world ready for such a technology? Only time will tell.

 AAPL can afford the US$10000 coins a lot more easily than most.

[Macno]

Thx. Yes, I will stop using Gox, I promise, as soon as I`ve got everything out of there....Posted it in the withdrawal thread though it`s about Fiat. Did not know they where fucking up BTC withdrawals as well now. Never had that problem before.

[ChartBuddy]

[Erdogan]

[...]
I say gloves off, anything goes, let bitcoin regulate itself.

That's perfect. Gloves off. Bitcoin, the only gloves off-market.