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

[billyjoeallen]

^Jesus!!! you think BTC is going to $80,000,000?

If 90% of BTC are consumed by reserve demand and 50% of the global GDP is denominated in bitcoin, we will see $80mm/btc.

Yup.  But that would be a very different world to the one we currently live in.

That's the idea ;-)

Seriously, Bitcoin has the potential to do much more than merely replace national currencies. It has the potential to allow dramatically increased world productivity and wealth. The financial sector is currently sucking off around 8% of global economic activity. Bitcoin could cut that in half.

There are more cars per capita now than there were horses per capita 150 years ago. This is because additional utility is produced at the margins. A more efficient disruptive technology can take more than 100% market share of the technology it replaces.

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[fonzie]

World Peace & World Hunger are next to be solved. Fact! I can see it in the logarithmic chart! Fact!

[Ducky1]

just use bitsimple.com easy easy easy...

Can you sell as much as you want there without moving the price?

[kurious]

We just had a crash and consolidation. Maybe we need  another one. I don't know, but I don't want to see anybody get hurt, and nobody get's hurt if we only go up from here except the people waiting now for a lower price point with too much cash on the sidelines. I don't have a crystal ball and maybe waiting now is is good strategy, but it's good for Bitcoin if there's less volatility.

The market doesn't care if people get hurt. And the market surely doesn't give a fuck what is good for bitcoin.

Comment of the day.   And any hope we will reach a new paradigm of 'less volatility' may not quite pan out.

I mean we haven't seen massive swings for oooh, it must be weeks now, right?

[virtualfaqs]

just use bitsimple.com easy easy easy...

Can you sell as much as you want there without moving the price?

What are the advantages of bitsimple? Looks like they're taking 4%.

[billyjoeallen]

We just had a crash and consolidation. Maybe we need  another one. I don't know, but I don't want to see anybody get hurt, and nobody get's hurt if we only go up from here except the people waiting now for a lower price point with too much cash on the sidelines. I don't have a crystal ball and maybe waiting now is is good strategy, but it's good for Bitcoin if there's less volatility.

The market doesn't care if people get hurt. And the market surely doesn't give a fuck what is good for bitcoin.

Comment of the day.   And any hope we will reach a new paradigm of 'less volatility' may not quite pan out.

I mean we haven't seen massive swings for oooh, it must be weeks now, right?

I care and I'll be buying the whole way down if it goes that way. I'm part of the market too, ya know. I'll be doing it for the good of the network, but I'm gonna make a good amount of coin doing so. It's the incentives that make bitcoin almost indestructible.

[SheHadMANHands]

What is uselles? BTC-E or Altcoins?

I would agree with both  

Altcoins of course.

By the way, BTC-e is awesome.. don't bad mouth them. Trading there is more fun than on Bearstamp or Mt.Bullshit.

lulz

[TERA]

We didnt have a proper rallydowntrend for a long time, all this dumpingrallying is getting boring.

[ajax3592]

just use bitsimple.com easy easy easy...

An offering has appeared to his highness....
https://bitcointalk.org/index.php?topic=430858.0

[KFR]

^Jesus!!! you think BTC is going to $80,000,000?

If 90% of BTC are consumed by reserve demand and 50% of the global GDP is denominated in bitcoin, we will see $80mm/btc.

Yup.  But that would be a very different world to the one we currently live in.

That's the idea ;-)

Seriously, Bitcoin has the potential to do much more than merely replace national currencies. It has the potential to allow dramatically increased world productivity and wealth. The financial sector is currently sucking off around 8% of global economic activity. Bitcoin could cut that in half.

There are more cars per capita now than there were horses per capita 150 years ago. This is because additional utility is produced at the margins. A more efficient disruptive technology can take more than 100% market share of the technology it replaces.

I was careful to be distinct about fiat inflation.  Don't get me wrong - I think Bitcoin's epic and I'm a bit of a permabull too.  But one bitcoin having the equivalent purchasing power of $80m of today's dollars within just five years just doesn't compute.  It's just not feasible.  

[adamstgBit]

just use bitsimple.com easy easy easy...

Can you sell as much as you want there without moving the price?

What are the advantages of bitsimple? Looks like they're taking 4%.

simple fast unlimited liquidity

[KFR]

Global remittance business (Western Union etc.) = $0.5 trillion

This is a gross under-estimate -- US-centrism is blinkering you.  WU and MoneyGram *alone* do 0.685 tn usd/an in remittances.  Hawala networks, non-US related remittances, Internet-based remittances multiply this by a *large* factor.  There are nations of central Asia in which 60% of the GDP consists of remittances (mostly from Russia and Kazakhstan.)

I don't doubt that at all - I was being lazy and just quoted a figure I'd heard Andreas Antonopoulos using. 

I'm usually the one pointing out when people are being too US-centric so thanks for that.

[virtualfaqs]

just use bitsimple.com easy easy easy...

Can you sell as much as you want there without moving the price?

What are the advantages of bitsimple? Looks like they're taking 4%.

simple fast unlimited liquidity

Nice. Always good to have more competition, but I'm ok with slow and limit for 3%.

[ChartBuddy]

Explanation

[fonzie]

and anonther one on the daily just got added. Very impressive, wow  

[TERA]

[JimboToronto]

(red candle image)

and anonther one on the daily just got added. Very impressive, wow  

Wow. 3 red candles in a row!!! The sky is falling in. Everybody sell.

Too bad it's not quite as impressive as the 8 consecutive green candles at the start of the month.

Sorry noobs, just because you missed the train, it doesn't mean that they're going to back it up to let stragglers hop aboard.

[dgarcia]

and anonther one on the daily just got added. Very impressive, wow  

It's bullish. All the the time it's bullish. Short-Term, Mid-Term, Long-Term: Bullish.

If it goes to 400,00$, it's bullish, it's short term bullish, 'cause cheap coins.

[fonzie]

and anonther one on the daily just got added. Very impressive, wow  

It's bullish. All the the time it's bullish. Short-Term, Mid-Term, Long-Term: Bullish.

If it goes to 400,00$, it's bullish, it's short term bullish, 'cause cheap coins.

If bankster/economists are pro it´s bullish, if they´re negative it´s extreme bullish. If China leaves the market it´s bullish, if Gox get´s closed - Super bullish.
This list could go on forever! We already heard that 1 BTC will be around 80 000 000$ in 5 years. I really don´t understand why not everyone mortgages everything and quit their jobs,
it´s quite obvious that all BTC holders even if they own less then one will be filthy rich. You bears will cry if you miss the choo choo to 10000$ which is about to take off any minute.

[ArticMine]

I would keep a close watch on the US stock market. If the DOW and S&P keep crashing, I would not be surprised if we see BTC and other crypto currencies breaking out on the upside.