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

[BitcoinAshley]

We gonna test $600 again tonight on stamp? I sure hope so 

On the 24h chart we tested it 3x, 4th time's the charm? And by "the charm," I mean we plunge through and everyone freaks out.

[Searing]

The worst case scenario, and I'm talking a complete cockup, FUD-tastic, super duper media rage scenario is that BTC goes down to $100 for a year

That's the worst case scenario? I think that'd be pretty good for BTC's long term success. It offers buying opportunity for everyone, it implies stability, it looks less like a "tulip bubble" to all those armchair economists and it would allow for real world applications to develop more easily.

Worst case in terms of what everybody in my neighborhood thinks of me for the next year.

Well imho bitcoin is really tinker bell....if you believe in faries (ie bitcoin) then all will be well..because we are really .with the bitcoin setting the virtual land that is the price/platform that the 'transaction method of bitcoin world wide is based" at the beginnng and just world wide scale say if ebay takes it etc...will blow the roof of (if it survives)

so you believe in faries;....bitcoin will be really really big just from the amount of tranactions and seemlessness of moving purchasing stuff w/o as much security concerns around the world

if you don't believe in faries...er i mean bitcoin...then it goes boom ..in which case i am going to take my colorful paper wallets use them as wall paper behind a small shelf ...that is decorated with tulips and put some bennie babies on it .....as a life lesson ....good choice i likely need some humility ...then i'll probably trade gold/silver...would be less stressful then bitcoin i'd be well prepared imho

see....back up plan is set.....

its all or nothing boys....news media is always gonna want it to fail..that is what sells news these days. ...you an't seen negative yet..if btc ever hits like 3k a coin...and a lot of people who missed the boat wise up..it is likely to even get more brutal with all the hurt feelings imho

again the only thing that stands between bitcoin and its demise is if enough of us during the rought times believe in faries....er i mean bitcoin and stay the course

anyway...if it really really works (really really well will be the investment payout) or it don't (another bad or ill fated investment)....but the potential for what i have in it vs my usual ill fated investment choices is so LARGE ...i'll take the risk....i can eat an ill fated investement .i'd likely be more messed up if this works and i decided to buy the negative hype and jump ship

whatever gets you thru the day

sorry in a whimsical frame of mind

Searing

[theonewhowaskazu]

The 'its all or nothing' crowd needs to learn that there's different types of "all": You can have it "all" in 2 years or look like you've got shit for the next 10 years at which point it finally takes off. At this point, the people with the coins won't be willing to let them go for too cheap. Its been integrated in too many places, used for too many things, valued too high. This means that people will have to pay for it if they want it, even in a bad scenario. And this means Bitcoin has value, and this means that Bitcoin can be used as a currency, and as long as its used, people will see how much better it is than normal currency, causing it to be used more, until its price goes up again. The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

[creekbore]

If withdrawals are resumed on Gox the assumption is that they will be moved off and sold, thus crashing the price on other exchanges.  

Yet, is there not an equal possibility that either (the more risk orientated) people will stay or move their coins and hodl?

[Searing]

The 'its all or nothing' crowd needs to learn that there's different types of "all": You can have it "all" in 2 years or look like you've got shit for the next 10 years at which point it finally takes off. At this point, the people with the coins won't be willing to let them go for too cheap. Its been integrated in too many places, used for too many things, valued too high. This means that people will have to pay for it if they want it, even in a bad scenario. And this means Bitcoin has value, and this means that Bitcoin can be used as a currency, and as long as its used, people will see how much better it is than normal currency, causing it to be used more, until its price goes up again. The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

yeah i've had that thought...if i ran google ...i'd say that i google was creating a sha-256 coin completely open like bitcoin to all on such and such a date no premine and the only thing different about it is google and maybe some other large "evil?* enities are behind it...

so you have a time/date diff at 0 ......off to the races

where would you point your knc jupiter 555gh that no longer ROI's at that point hmmm?

the catch is ..they'd have to probably even more tranparent and open source the bitcoin to prove bona fides

won't happen corp culture can't give up power ...would keep some hooks and that would be seen and doom the coin

but just saying......would sure be interesting

and i agree with you....you got to look at this long term 5+ years....but lots of folk would really really like to kill bitcoin if the press is any indication

(silly masses of people thinking they have some kind of control...i mean really)

Searing

[creekbore]

The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

It doesn't need to be Google, we now have hundreds of alt-coins, it could be any of them, or any company - traditional or new economy that runs with the protocol.  

Often with innovation the trailblazer is not the one that succeeds, but merely clears the path for others who often have better marketing/advertising/people skills.

[Searing]

If withdrawals are resumed on Gox the assumption is that they will be moved off and sold, thus crashing the price on other exchanges.  

Yet, is there not an equal possibility that either (the more risk orientated) people will stay or move their coins and hodl?

yep that pretty much sums it up ...flip a coin is probably the smart way to call this......

now bitcoin being bitcoin it will likely do the unexpected and weird and just go sideways and stay more or less the same price

its bitcoin it will always go the way i don't expect it to (its a fundemental law of nature)

Searing

[Girth]

The 'its all or nothing' crowd needs to learn that there's different types of "all": You can have it "all" in 2 years or look like you've got shit for the next 10 years at which point it finally takes off. At this point, the people with the coins won't be willing to let them go for too cheap. Its been integrated in too many places, used for too many things, valued too high. This means that people will have to pay for it if they want it, even in a bad scenario. And this means Bitcoin has value, and this means that Bitcoin can be used as a currency, and as long as its used, people will see how much better it is than normal currency, causing it to be used more, until its price goes up again. The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

Agreed.  However, would not a more likely successor be in the Bitcoin 2.0 space rather than somebody like Google?
In any case I don't see Bitcoin disappearing but at worst having some of its thunder stolen.

[windjc]

The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

It doesn't need to be Google, we now have hundreds of alt-coins, it could be any of them, or any company - traditional or new economy that runs with the protocol.  

Often with innovation the trailblazer is not the one that succeeds, but merely clears the path for others who often have better marketing/advertising/people skills.

No bitcoin clone will ever supercede bitcoin. Will. Not. Happen.

No corporate backed coin will ever supercede bitcoin. Ever.

It would have to be a different non corporate open sourced (at some point) alt.

Less than a handful of those exist today all in fledgling states. Bitcoin is in the clear for at least a couple more years.

[Searing]

The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

It doesn't need to be Google, we now have hundreds of alt-coins, it could be any of them, or any company - traditional or new economy that runs with the protocol.  

Often with innovation the trailblazer is not the one that succeeds, but merely clears the path for others who often have better marketing/advertising/people skills.

again i agree..i'm just saying a large corp like google could put its name behind a very transparent coin...make it sha-256 to take advantage of all that unused
or soon to be unused equip ..no premine 0 difficulty..man would take off like a rocket as all this asic stuff would go to this coin ..make dodgecoin look stodgy..imho

not a lot of risk except you look inovative...and the preswswould go nuts esp if you we're completely open on the coin end..good PR


but the catch is ...would be NO angle for the corp on the above except kudos and PR and some press for 2 months as the coin takes off as people

put their 333mh usb cards back up and mine

but if you have the steve jobs corp mentality of shaking things up to see what falls out....could be a hoot

its a day dream....but a kinda thought excercise ...... man ..that would be interesting to watch


Searing

[Searing]

The 'its all or nothing' crowd needs to learn that there's different types of "all": You can have it "all" in 2 years or look like you've got shit for the next 10 years at which point it finally takes off. At this point, the people with the coins won't be willing to let them go for too cheap. Its been integrated in too many places, used for too many things, valued too high. This means that people will have to pay for it if they want it, even in a bad scenario. And this means Bitcoin has value, and this means that Bitcoin can be used as a currency, and as long as its used, people will see how much better it is than normal currency, causing it to be used more, until its price goes up again. The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

Agreed.  However, would not a more likely successor be in the Bitcoin 2.0 space rather than somebody like Google?
In any case I don't see Bitcoin disappearing but at worst having some of its thunder stolen.

agree google getting behind the devs on bitcoin 2.0 would accomplish the same from their corp viewpoint again shake things up
that also would work..the truth is if steve jobs still ran apple i'm not sure you woulda seen the bitcoin wallet apps taken off
not a lot of top corp types who would just play with an idea like this anymore...at least the large ones

this same senario would work well for a major bank or even a country to adopt....but it would be because of the
shock value..ie unexpected that a company would get stuff out of such a quest

but won't happen it will take all a corp can muster to just take bitcoin and they likely will always back coins that
have some kind of central control or hooks that benifits the corp in question..

the rumor is for exampel apple banned bitcoin apps because it is gonna push an Imoney concept thru the phones
they can control....

anyway was just a daydream

(dang it thou i'd like to run my sha-256 beast on something after may when difficulty gets to high
hope zerocoin the anon coin stays sha-256 could have a shot....)

Searing

[TheGhost]

The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

It doesn't need to be Google, we now have hundreds of alt-coins, it could be any of them, or any company - traditional or new economy that runs with the protocol.  

Often with innovation the trailblazer is not the one that succeeds, but merely clears the path for others who often have better marketing/advertising/people skills.

No bitcoin clone will ever supercede bitcoin. Will. Not. Happen.

No corporate backed coin will ever supercede bitcoin. Ever.

It would have to be a different non corporate open sourced (at some point) alt.

Less than a handful of those exist today all in fledgling states. Bitcoin is in the clear for at least a couple more years.

I think you are right. With one (very unlikely) exception.

I've said this in other posts, but AMD and nvidia both have financial incentives to support alt coins. I could imagine AMD witnessing their recent sales spikes and deciding to invest into developing and promoting alt coins, so they can sell more gpus. Intel created Embree, an open and free rendering software, because it helps them sell cpus. AMD and nvidia can do the same for mining. It would be financially beneficial to them to put a team of developers and promoters into it, even if they don't own the code.

Or maybe intel will make an ultimate ASIC and start mining bitcoin themselves

[ChartBuddy]

Explanation

[creekbore]

The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

It doesn't need to be Google, we now have hundreds of alt-coins, it could be any of them, or any company - traditional or new economy that runs with the protocol.  

Often with innovation the trailblazer is not the one that succeeds, but merely clears the path for others who often have better marketing/advertising/people skills.

No bitcoin clone will ever supercede bitcoin. Will. Not. Happen.

No corporate backed coin will ever supercede bitcoin. Ever.

It would have to be a different non corporate open sourced (at some point) alt.

Less than a handful of those exist today all in fledgling states. Bitcoin is in the clear for at least a couple more years.

Because. using. full. stops. makes. it. so.  

As Blitz and TERA pointed out a few pages back being open source is not an advantage, indeed has many disadvantages while the events of the last week show why the alts (the serious ones such as LTC and PPC or even FTC) are needed - a single black swan event could wipe BTC out but the concept will remain, and those players will be able to take advantage.

Never. Say. Ever.

[creekbore]

Is this their announcement??? Uploaded moments ago.

https://support.mtgox.com/entries/26541094-Maintenance-Announcement-Effecting-Bitcoin-Transfers-February-15th-2014

Basically uploading that pdf to their support website? 

No, that's two days old.

[FTWbitcoinFTW]

single black swan event could wipe BTC out

Tell that to all gov, hacker, bank trying to wipe btc out since 2 years

[windjc]

The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

It doesn't need to be Google, we now have hundreds of alt-coins, it could be any of them, or any company - traditional or new economy that runs with the protocol.  

Often with innovation the trailblazer is not the one that succeeds, but merely clears the path for others who often have better marketing/advertising/people skills.

No bitcoin clone will ever supercede bitcoin. Will. Not. Happen.

No corporate backed coin will ever supercede bitcoin. Ever.

It would have to be a different non corporate open sourced (at some point) alt.

Less than a handful of those exist today all in fledgling states. Bitcoin is in the clear for at least a couple more years.

Because. using. full. stops. makes. it. so.  

As Blitz and TERA pointed out a few pages back being open source is not an advantage, indeed has many disadvantages while the events of the last week show why the alts (the serious ones such as LTC and PPC or even FTC) are needed - a single black swan event could wipe BTC out but the concept will remain, and those players will be able to take advantage.

Never. Say. Ever.

True. There. Could. Be. A. Zombie. Apocalypse.

[traderCJ]

The only conceivable scenario in which BTC won't succeed is if somebody like Google creates their own copy and it overtakes BTC.

It doesn't need to be Google, we now have hundreds of alt-coins, it could be any of them, or any company - traditional or new economy that runs with the protocol.  

Often with innovation the trailblazer is not the one that succeeds, but merely clears the path for others who often have better marketing/advertising/people skills.

No bitcoin clone will ever supercede bitcoin. Will. Not. Happen.

No corporate backed coin will ever supercede bitcoin. Ever.

It would have to be a different non corporate open sourced (at some point) alt.

Less than a handful of those exist today all in fledgling states. Bitcoin is in the clear for at least a couple more years.

Because. using. full. stops. makes. it. so.  

As Blitz and TERA pointed out a few pages back being open source is not an advantage, indeed has many disadvantages while the events of the last week show why the alts (the serious ones such as LTC and PPC or even FTC) are needed - a single black swan event could wipe BTC out but the concept will remain, and those players will be able to take advantage.

Never. Say. Ever.

At the end of the day, it's just a coin popularity contest.  Invest accordingly.

[creekbore]

single black swan event could wipe BTC out

Tell that to all gov, hacker, bank trying to wipe btc out since 2 years

Interesting then that the most damage has been done by an insider, isn't it?

Look, I'm not making predictions, just saying making predictions is in itself unwise.  

My old science teacher told me the only certainty he could tell us was the sun rose in the East, travelled across the South sky and set in the West.  I moved to Australia and discovered even that was partly untrue.

Don't close your mind to possibilities.

[zby]

No, that's two days old.

But it was uploaded today... You never know with Gox.

https://support.mtgox.com/forums/20158626-Announcements
Maintenance Announcement Effecting Bitcoin Transfers - February 15th, 2014
Mike Feb 17

And it announces downtime on Saturday - totally Gox style!