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

[Davyd05]

happy to say I'm spam free < perhaps I should check the parents

[magicmexican]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

[KFR]

...and me using bitcoin cannot possibly tell me anything relevant to the sources of my skepticism.

So wrong Jorge.  With the best will in the world you should really know better.  Would you expect the same from a student?

Seriously.  Download Bitcoin-QT.  Sign up to an exchange.  Buy yourself 0.1 BTC and spend some of it on junk.

To continue to plough this much time and effort into researching cryptocurrencies without having gone through that simple step seems daft.

[kkaspar]

People speculate on the BTC/USD pair (or BTC/crypto) just like they speculate on EUR/USD for instance. They all do it to make more money, because that's what speculators do. Now Bitcoin is a very young currency and still in its volatile growth phase, so it makes sense that more people are holding on to their coins for a longer period of time compared to Euros or Dollars for instance. This is going to change eventually as merchant adoption and the userbase grows. It won't be as easy to move the price around as much when BTC is a trillion dollar market.

Ok, I'll try to explain with more clarity. Maybe there is a language barrier that confuses you.

Currencies at forex = attractive for trading
BTC = Attractive for investment

Fiat currencies are unattractive as investments because they are inflationary and there is a good logic behind it. People are not making money on forex by investing into a currency, but they are making money by trading currencies with one another and make profit by value fluctuation.
People at forex are not investing, but they are trading.

I tried to be as clear as possible.

[mmitech]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

Gosh, like we need that now, after all this shit....

[JayJuanGee]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

I think that these are the kinds of shenanigans that could keep BTC prices low and BTC in a state of slower growth and volatility... ...  I think some lawmakers believe that they need to do something about BTC while it is still fairly small... ... but they do NOT realize that the cannot stop BTC ... but only to drive it underground....  Once we get past this stage and some  of these shenanigans... then we are going to be looking at 10K+ BTCs

[kurious]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

Full of holes, but still depressingly scary.   Wonder who funds his campaigns - they certainly don't know enough about bitcoin to write a letter for him.

[michaelGedi]

You have to understand who Mark Karpeles is. Look at his cat videos....

http://www.youtube.com/watch?v=81QkfGpHeyQ&list=UUAAgMYqyzm_kT2tgI3HPE2A&hd=1

and, his minecraft videos?? oh man things suddenly make a whole lot more sense!

http://www.youtube.com/watch?v=A1WvB2R4z1Y&list=UUAAgMYqyzm_kT2tgI3HPE2A

[podyx]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

fuck this guy, he's just mad he didn't buy in early

tragic

[podyx]

You have to understand who Mark Karpeles is. Look at his cat videos....

http://www.youtube.com/watch?v=81QkfGpHeyQ&list=UUAAgMYqyzm_kT2tgI3HPE2A&hd=1

and, his minecraft videos?? oh man things suddenly make a whole lot more sense!

http://www.youtube.com/watch?v=A1WvB2R4z1Y&list=UUAAgMYqyzm_kT2tgI3HPE2A

is that really Mark Karpeles??

[kkaspar]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

I wouldn't be surprised that the senator actually invested in bitcoin and held his money at gox.
There will be a lot of hate towards bitcoin from people who got scammed by gox.
And they won't care that mtgox is not bitcoin. They will tell that they were invited to buy bitcoins with promises of great wealth. And they know that they did everything right, since they googled bitcoin, found the main trustworthy hub to be bitcoin.org, that directed them straight to gox.
People here underestimate how much will bitcoin be blamed if people will lose their money.

[JayJuanGee]

...and me using bitcoin cannot possibly tell me anything relevant to the sources of my skepticism.

So wrong Jorge.  With the best will in the world you should really know better.  Would you expect the same from a student?

Seriously.  Download Bitcoin-QT.  Sign up to an exchange.  Buy yourself 0.1 BTC and spend some of it on junk.

To continue to plough this much time and effort into researching cryptocurrencies without having gone through that simple step seems daft.

WOW... I agree with this!!!   I cannot see how anyone who is spending lots of time with BTC should at least have a little bit to play around with in order to see how it really works... to open up a few accounts... too...

People speculate on the BTC/USD pair (or BTC/crypto) just like they speculate on EUR/USD for instance. They all do it to make more money, because that's what speculators do. Now Bitcoin is a very young currency and still in its volatile growth phase, so it makes sense that more people are holding on to their coins for a longer period of time compared to Euros or Dollars for instance. This is going to change eventually as merchant adoption and the userbase grows. It won't be as easy to move the price around as much when BTC is a trillion dollar market.

Ok, I'll try to explain with more clarity. Maybe there is a language barrier that confuses you.

Currencies at forex = attractive for trading
BTC = Attractive for investment

Fiat currencies are unattractive as investments because they are inflationary and there is a good logic behind it. People are not making money on forex by investing into a currency, but they are making money by trading currencies with one another and make profit by value fluctuation.
People at forex are not investing, but they are trading.

I tried to be as clear as possible.

GREAT explanation...

[ChartBuddy]

Explanation

[threecats]

Last paragraph, he says "weary" instead of "wary". So the article is either FUD, or both a US Senator's staff plus the magazine staff cannot proof a one page letter to the federal government.  Don't know which makes me more weary and wary both.

[jojo69]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

lol, let's ban buttsex and downloading torrents while we're at it

[bassclef]

Sounds more like "when they have never sung at the opera."  

I do exactly that for a living. Learning an opera would be akin to learning cryptography or how to code.

Seriously, how many times do I have to write that I believe that cryptocoins can be great payment methods, and wish them all the success at that?  My skepticism has nothing to do with those aspects of cryptocoins, and me using bitcoin cannot possibly tell me anything relevant to the sources of my skepticism.

Agree to disagree

[bitcodo]

You have to understand who Mark Karpeles is. Look at his cat videos....

http://www.youtube.com/watch?v=81QkfGpHeyQ&list=UUAAgMYqyzm_kT2tgI3HPE2A&hd=1

and, his minecraft videos?? oh man things suddenly make a whole lot more sense!

http://www.youtube.com/watch?v=A1WvB2R4z1Y&list=UUAAgMYqyzm_kT2tgI3HPE2A

LOL is that really Mark Karpeles?? 

His cat name is Tibane. Tibane must be his passwords too. Lets see if I can log to mtgox admin panel...

[fonzie]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

"Americans will be left holding the bag on a valueless currency."

 

[meanig]

http://www.businessinsider.com/senator-calls-for-bitcoin-ban-2014-2

I urge the regulators to work together, act quickly, and prohibit this dangerous currency from harming hard-working Americans.

Hahaha what a tool. Any politician that uses the "hard working" sound-bite is a moron.

[podyx]

"and prohibit this dangerous currency from harming hard-working Americans."

'im doing it for the people cliche'

god, couldn't this guy come up with something more original?