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

[adamstgBit]

i've been selling coins.  

risk management....

but i still very bullish on the future.

Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries  

Will anyone who buys bitcoin in a few years be rich in another few years? I'm curious as to how long this recurisve logic will go on. Will bitcoin expand infinitely and receive massive adoption by aliens in distant galaxies?

if aliens want to do business on earth they will have to buy bitcoin  

bitcoin upper limit is like 5-10million pre coin. ( in todays dollars )

[pjviitas]

i've been selling coins.  

risk management....

but i still very bullish on the future.

Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries  

Will anyone who buys bitcoin in a few years be rich in another few years? I'm curious as to how long this recurisve logic will go on. Will bitcoin expand infinitely and receive massive adoption by aliens in distant galaxies?

if aliens want to do business on earth they will have to buy bitcoin  

bitcoin upper bound is like 5-10million pre coin.

You forgot about: Anyone in bitcoin a few years ago is rich now unless of course they spent it on hookers and blow.

[adamstgBit]

i've been selling coins.  

risk management....

but i still very bullish on the future.

Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries  

Will anyone who buys bitcoin in a few years be rich in another few years? I'm curious as to how long this recurisve logic will go on. Will bitcoin expand infinitely and receive massive adoption by aliens in distant galaxies?

if aliens want to do business on earth they will have to buy bitcoin  

bitcoin upper bound is like 5-10million pre coin.

You forgot about: Anyone in bitcoin a few years ago is rich now unless of course they spent it on hookers and blow.

i imagine quite a few poeple died of overdose during the last run up

 

[surfer43]

i've been selling coins.  

risk management....

but i still very bullish on the future.

Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries  

Will anyone who buys bitcoin in a few years be rich in another few years? I'm curious as to how long this recurisve logic will go on. Will bitcoin expand infinitely and receive massive adoption by aliens in distant galaxies?

if aliens want to do business on earth they will have to buy bitcoin  

bitcoin upper bound is like 5-10million pre coin.

You forgot about: Anyone in bitcoin a few years ago is rich now unless of course they spent it on hookers and blow.

or if they spent it on a pizza...

[surfer43]

Explanation

Gox is still on that 920 taboo 

[TERA]

i've been selling coins.  

risk management....

but i still very bullish on the future.

Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries  

Will anyone who buys bitcoin in a few years be rich in another few years? I'm curious as to how long this recurisve logic will go on. Will bitcoin expand infinitely and receive massive adoption by aliens in distant galaxies?

if aliens want to do business on earth they will have to buy bitcoin  

bitcoin upper bound is like 5-10million pre coin.

You forgot about: Anyone in bitcoin a few years ago is rich now unless of course they spent it on hookers and blow.

or if they spent it on a pizza...

I have had a serious overdose on pizza before that required medical attention.

[billyjoeallen]

i've been selling coins.  

risk management....

but i still very bullish on the future.

Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries  

Will anyone who buys bitcoin in a few years be rich in another few years? I'm curious as to how long this recurisve logic will go on. Will bitcoin expand infinitely and receive massive adoption by aliens in distant galaxies?

Nobody knows exactly, but I have an idea. Bitcoin, as our friend Mr. Antonopolis likes to say, is not just money for the internet. Bitcoin is the internet of money.  Bitcoin will follow the technology adoption S curve along a similar time frame as the internet itself was adopted. this means over four years or so before the adoption rate slows to close to linear from the logarithmic. we have about a million users in the U.S. now and I estimate this will grow to about 300 million in five years, which by that time will be about 75% of the US population. Of course this is global, so total adoption at the logarithmic (or super logarithmic) rate may be longer or shorter.
1 million people this year
5 million next year
25 million the year after that
125 million In 2017,
and then in 2018, the second elbow- but this is for any adoption.
The amount of use by each individual will increase on average over that time as well. For example, I first bought a home computer in 1992 and connected to the internet in '93. Now I have two desktops, two laptops, a netbook and a smart phone. Then I connected to the 'net for less than an hour a day and now I'm wired in for about twelve hours on average. Bitcoin use and value can increase for over a decade at geometrical rates without reaching saturation. Doesn't mean it will, but it might.


This is a very rough prediction.  (plus or minus 200%)  

[shmadz]

Just got home, not gonna bother catching up with the last 30 pages of probable nonsense,

But I just watched the first segment of the first panel today, and sorry for the serious but I'd like if some of you could offer an opinion on the following.

Cyrus R. Vance, the very first person to speak, chooses to start with a case of money laundering, of course. Money laundering is the catch phrase and it's designed to put a negative image on bitcoin. They will repeat it again and again when asked about bitcoin.

The interesting thing is that they were laundering fiat dollars acquired from the theft of credit card information, using western express. This crime can't even happen with bitcoin. There is no credit card information to steal in the first place.

I think the reason they are going to try to vilify bitcoin and try to regulate the shit out of it is so that they can maintain their monopoly on the money laundering business.  


What do you think?

[surfer43]

Just got home, not gonna bother catching up with the last 30 pages of probable nonsense,

But I just watched the first segment of the first panel today, and sorry for the serious but I'd like if some of you could offer an opinion on the following.

Cyrus R. Vance, the very first person to speak, chooses to start with a case of money laundering, of course. Money laundering is the catch phrase and it's designed to put a negative image on bitcoin. They will repeat it again and again when asked about bitcoin.

The interesting thing is that they were laundering fiat dollars acquired from the theft of credit card information, using western express. This crime can't even happen with bitcoin. There is no credit card information to steal in the first place.

I think the reason they are going to try to vilify bitcoin and try to regulate the shit out of it so that they can maintain their monopoly on the money laundering business.  


What do you think?

Yeah the concept of "Identity theft" will not be a problem with Bitcoin. So another group that will lobby against Bitcoin is Identity Theft protection companies.

[TERA]

The panel seems somewhat bearish to me. I don't know if the bulls are watching it with rose goggles or beer goggles or what.

[billyjoeallen]

Just got home, not gonna bother catching up with the last 30 pages of probable nonsense,

But I just watched the first segment of the first panel today, and sorry for the serious but I'd like if some of you could offer an opinion on the following.

Cyrus R. Vance, the very first person to speak, chooses to start with a case of money laundering, of course. Money laundering is the catch phrase and it's designed to put a negative image on bitcoin. They will repeat it again and again when asked about bitcoin.

The interesting thing is that they were laundering fiat dollars acquired from the theft of credit card information, using western express. This crime can't even happen with bitcoin. There is no credit card information to steal in the first place.

I think the reason they are going to try to vilify bitcoin and try to regulate the shit out of it so that they can maintain their monopoly on the money laundering business.  


What do you think?

I disagree. They see another cash cow like the dot com boom coming and they want a slice.

[adamstgBit]

Just got home, not gonna bother catching up with the last 30 pages of probable nonsense,

But I just watched the first segment of the first panel today, and sorry for the serious but I'd like if some of you could offer an opinion on the following.

Cyrus R. Vance, the very first person to speak, chooses to start with a case of money laundering, of course. Money laundering is the catch phrase and it's designed to put a negative image on bitcoin. They will repeat it again and again when asked about bitcoin.

The interesting thing is that they were laundering fiat dollars acquired from the theft of credit card information, using western express. This crime can't even happen with bitcoin. There is no credit card information to steal in the first place.

I think the reason they are going to try to vilify bitcoin and try to regulate the shit out of it so that they can maintain their monopoly on the money laundering business.  


What do you think?

the hearing made me feel like the US was going for a minimalist approach to regulation, the chairman seemed very pro bitcoin.... I don't think they are going to regulate the shit out of it. they keep saying that they want to have enough regulation to feel comfortable and at the same time not stifle bitcoin's potential. If i was a conspiracy theorist i'd say bitcoin is the new illuminati money, and government agents are in on it. but i'm not going to go there.

[pjviitas]

Just got home, not gonna bother catching up with the last 30 pages of probable nonsense,

But I just watched the first segment of the first panel today, and sorry for the serious but I'd like if some of you could offer an opinion on the following.

Cyrus R. Vance, the very first person to speak, chooses to start with a case of money laundering, of course. Money laundering is the catch phrase and it's designed to put a negative image on bitcoin. They will repeat it again and again when asked about bitcoin.

The interesting thing is that they were laundering fiat dollars acquired from the theft of credit card information, using western express. This crime can't even happen with bitcoin. There is no credit card information to steal in the first place.

I think the reason they are going to try to vilify bitcoin and try to regulate the shit out of it so that they can maintain their monopoly on the money laundering business.  


What do you think?

the hearing made me feel like the US was going for a minimalist approach to regulation, the chairman seemed very pro bitcoin.... I don't think they are going to regulate the shit out of it. they keep saying that they want to have enough regulation to feel comfortable and at the same time not stifle bitcoin's potential. If i was a conspiracy theorist i'd say bitcoin is the new illuminati money, and government agents are in on it. but i'm not going to go there.

Your probably bang on...fiat will be for the masses.

[shmadz]

the hearing made me feel like the US was going for a minimalist approach to regulation, the chairman seemed very pro bitcoin.... I don't think they are going to regulate the shit out of it. they keep saying that they want to have enough regulation to feel comfortable and at the same time not stifle bitcoin's potential. If i was a conspiracy theorist i'd say bitcoin is the new illuminati money, and government agents are in on it. but i'm not going to go there.

Heh, I love a good conspiracy theory. When that law guy mentioned requiring the same level of oversight for exchanges as for banks, it makes me wonder if the banks just wanna become the new exchanges.

They know that's where all the money is at, and also the best opportunity for corruption. If they can justify high fees as "the cost of doing business" due to overly onerous regulation, then that's just icing on the cake.



Also like to say thank you to all the other respondents. This truly is the best thread on the internet. <- please note that I have not been vetted as a trusted source so that previous statement has not been confirmed  

[seleme]

The panel seems somewhat bearish to me. I don't know if the bulls are watching it with rose goggles or beer goggles or what.

Watching rain makes you bearish though, I doubt I'd visit Vegas with you, you seem boring as fuck

The only thing that matters about these panels is that they clearly say Bitcoin is legal and will continue to be legal.

They said that 3 months ago.

And that's about when Wall Street and other big guys knew it's here to stay and it's better to position themselves for it, and that's why all Chinese shit and FUD from bitter twats haven't made it to stay down for less than few hours in last month.

If you're expecting a chairman to bring the check book from his pocket and buy 3 billion on market order, than it's bearish, yeah.

[Adrian-x]

i've been selling coins.  

risk management....

but i still very bullish on the future.

Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries  

its easy to think that anyone that heard about bitcoin in 2012 bought 10K worth of bitcoin minimum

but it was a different time back then, bitcoin was really sketchy, no one wanted to risk more then they could afford to lose

and unfortunately i could not afford to lose very much at all

the week i heard about bitcoin was the same week i bought my house.

worst investment ever!   

and you haven't paid it off yet?

[shmadz]

Sorry if this is old, wish I could have watched this live, but at 34:15 (1st panel of day 2) that second law guy nearly slips up and uses the term crypto currency instead of the term he was told to use, "virtual currency"

Virtual currency is another catch phrase that they want to embed in the subconscious. Virtual currency is very different from crypto currency. Crypto is the term I would use to define a currency protected by cryptography, like bitcoin. Virtual is the term I would use to define Amazon bucks, or WoW gold, or USD; these are currencies that are centralized and controlled. Crypto currency is neither centralized, nor controlled, and I think that would scare them to death, if they only understood.

[adamstgBit]

i've been selling coins.  

risk management....

but i still very bullish on the future.

Anyone in bitcoin a few years ago is rich now. So...
Anyone in bitcoin now will be rich in a few years. no worries  

its easy to think that anyone that heard about bitcoin in 2012 bought 10K worth of bitcoin minimum

but it was a different time back then, bitcoin was really sketchy, no one wanted to risk more then they could afford to lose

and unfortunately i could not afford to lose very much at all

the week i heard about bitcoin was the same week i bought my house.

worst investment ever!   

and you haven't paid it off yet?

no...

like i said i could not afford to lose very much at all.

and i sodl alot in the 20's .....

[pickaname]

http://techcrunch.com/2014/01/29/amazon-wants-to-include-peer-to-peer-payments-in-its-real-world-paypal-competitor/

Amazon going natural selection and kicking bitcoin to the curb? Seems to me their building a platform similar to the key features of bitcoins.

[adamstgBit]

http://techcrunch.com/2014/01/29/amazon-wants-to-include-peer-to-peer-payments-in-its-real-world-paypal-competitor/

Amazon going natural selection and kicking bitcoin to the curb? Seems to me their building a platform similar to the key features of bitcoins.

The e-commerce giant is also developing a solution for person-to-person payments — bypassing banks and other payment networks — putting it in even closer competition with P2P payment giant PayPal.

someone needs to tell the writer what P2P money is  

P2P money does not include a "payment giant"