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

[Denton]

It's off-topic but I have to share with you this excellent article.
http://detlevschlichter.com/2014/02/bitcoin-has-theory-and-history-on-its-side/

[1715099396]

1715099396

[JorgeStolfi]

mtgoxUSD
mtgoxEUR
mtgoxJPY
mtgoxGBP
mtgoxAUD
mtgoxPLN
mtgoxCAD
mtgoxCHF
mtgoxSEK
mtgoxNZD
mtgoxCNY
mtgoxSGD
mtgoxHKD
mtgoxDKK
mtgoxTHB
mtgoxRUB

That's 16 different exchanges in 16 different countries...

Are they? I believe that they are just different currencies that MtGOX Japan dealt with.

[dreamspark]

This is smelling more and more like government

[kkaspar]

That's just your cynical point of view, not the 'ugly truth'. You're just making assumptions as to what most people are in it for and that's your entire argument against it? I think for many it's a combination of things. Some see Bitcoin as a better form of money because there is no central authority having a monopoly on its creation and there is no limitless supply that can be created out of nowhere. It also cuts out middlemen like banks which is also a very positive thing for many. Others just see it as a practical tool to move money around and across borders almost for free. Anyway there are many reasons why people would like to get into Bitcoin, not just to make a lot of money. But even if it's only about becoming rich for some, how is that different from the people who invested early in Apple or Google? Are those companies bad because of greedy speculators/early adopters as well? There is a lot of risk involved with it too, so it's not an easy way to get rich at all because there is absolutely no guarantee that Bitcoin will succeed. I may lose it all if it fails. So in short I think your argument is flawed and biased but hey, you're entitled to your own opinion.

I base my argument on experience how people here express themselves and react on different arguments.
It's different from investing into Apple or Google, because people actually built things that matter with these investments. With bitcoin the investments mostly go to mining. In other words to build machines that in the general perspective don't contribute to anything. The problem with bitcoin is that it causes arms race in mining, while the increasing size of the network doesn't actually improve anything. It doesn't improve the speed nor security. Just empty work done and resources wasted for something that could be done with a lot less.
The system did make sense in a time where there were only CPU/GPU mining and no pools, but now it's only a fools game with unnecessary wasting.

[empowering]

Hi- just a thought... If Bitcoin has a year or two, then whatever is going to replace it, then it must already be around right now.... so which coin is it? and what does it do that is going to make it out compete Bitcoin in your opinion?

I tend to think that The digital currency hasn't been created yet. I'm still waiting for a team with proper funding and experience to enter this field. The potential is too big for single hobbyists.

I was wondering if you would say that...so in a year, or two a currency that does not even exist yet, is going to be created, launched, mined, gain popularity and out-trade Bitcoin in the next 52 to 104 weeks, a coin that literally does not exist now..  interesting thought...

What will it do that will make it able to grow this fast and this well that any coins cannot do at present? and even if it is a great coin, can you explain how you think it will grow the network in such a rapid time?

[manfred]

Hi- just a thought... If Bitcoin has a year or two, then whatever is going to replace it, then it must already be around right now.... so which coin is it? and what does it do that is going to make it out compete Bitcoin in your opinion?

I tend to think that The digital currency hasn't been created yet. I'm still waiting for a team with proper funding and experience to enter this field. The potential is too big for single hobbyists.

I was wondering if you would say that...so in a year, or two a currency that does not even exist yet, is going to be created, launched, mined, gain popularity and out-trade Bitcoin in the next 52 to 104 weeks, a coin that literally does not exist now..  interesting thought...

What will it do that will make it able to grow this fast and this well that any coins cannot do at present? and even if it is a great coin, can you explain how you think it will grow the network in such a rapid time?

Well this is number 4 on coinmarketcap right now.

[FTWbitcoinFTW]

Hi- just a thought... If Bitcoin has a year or two, then whatever is going to replace it, then it must already be around right now.... so which coin is it? and what does it do that is going to make it out compete Bitcoin in your opinion?

I tend to think that The digital currency hasn't been created yet. I'm still waiting for a team with proper funding and experience to enter this field. The potential is too big for single hobbyists.

I was wondering if you would say that...so in a year, or two a currency that does not even exist yet, is going to be created, launched, mined, gain popularity and out-trade Bitcoin in the next 52 to 104 weeks, a coin that literally does not exist now..  interesting thought...

What will it do that will make it able to grow this fast and this well that any coins cannot do at present? and even if it is a great coin, can you explain how you think it will grow the network in such a rapid time?

Well this is number 4 on coinmarketcap right now.

Yes, with a whooping $6K volume on 24h...
Nice try

[empowering]

Hi- just a thought... If Bitcoin has a year or two, then whatever is going to replace it, then it must already be around right now.... so which coin is it? and what does it do that is going to make it out compete Bitcoin in your opinion?

I tend to think that The digital currency hasn't been created yet. I'm still waiting for a team with proper funding and experience to enter this field. The potential is too big for single hobbyists.

I was wondering if you would say that...so in a year, or two a currency that does not even exist yet, is going to be created, launched, mined, gain popularity and out-trade Bitcoin in the next 52 to 104 weeks, a coin that literally does not exist now..  interesting thought...

What will it do that will make it able to grow this fast and this well that any coins cannot do at present? and even if it is a great coin, can you explain how you think it will grow the network in such a rapid time?

Well this is number 4 on coinmarketcap right now.

Well it exists already!  also that will be somone fking around with buying and selling on a stupid excange that does not carry out best price exectues

 And in my point, I am not saying that you could not roll out a coin that quick... I am talking about a coin that is going to take over the whole market..within the next 52-104 weeks... that currently is nothing more than a abstract thought in someones mind..  they had better get going...

[thanksmark]

https://i.imgur.com/5Fp9fNr.jpg
That could be a way to move the market.

[debani]

https://i.imgur.com/wwdgtrQ.png
Which way are we going once it consolidates? All logic as and the very limited TA that I know tell me that it's going down but I'm feeling spooked about the 'unnatural' rally up to 610 and have a nagging feeling that it might shoot up. I've got a short open at 585. Let's see how this plays out.

[empowering]

That could be a way to move the market.

Looks as about as real as the email I got from them yesterday- and with a similar level of English.

[Richy_T]

You're going to hate yourself when you read back your posts here in year or two. Oh boy.. 

Perhaps. But right now I am kinda ejoying it.  I did't have so much attention focused on my person since sixth grade, when I was the #1 target of all bullies in the school.  It makes me feel thirteen again.

Ladies and gentlemen, a troll is born...

[aminorex]

That could be a way to move the market.

This would certainly be a strong indication that 744k BTC of supply which was previously believed to be trading is not available for sale.  It would also be an indication that the entire stock of coins remaining accessible to Mt.Gox will be made available for sale, although certainly off-exchange.  Further, it would be an indication that early holders will suffer the most damage from the liquidation, which implies that redistribution has been dispersive, which is probably quite good for the economy, albeit not good for capital formation.  Not that any meaningful capital formation occurs denominated in BTC, so definitely a win overall economically.

[aminorex]

I've got a short open at 585.

I'll take the other side of that, thank you very much.

[Amechan]

That could be a way to move the market.

So does this mean that if when I transferred in my BTC it was worth $1200 I will be getting $1200 per btc refund?

[FNG]

Which way are we going once it consolidates?

Parabolic spike. Bitcoin is getting more exposure than ever, float reduction, Gox black hole has been removed, and bitstamp bids getting fat

$1k within a few weeks

[FTWbitcoinFTW]

At least 50KBTC for gox ?
Still have the private key, it's an other story..

But 50k for 750k "missing,  it's 15:1 or 0.0667 !!

Last buy on bitcoinbuilder :  0.067..

To much coffee ?

[thanksmark]

https://i.imgur.com/5Fp9fNr.jpg
That could be a way to move the market.

So does this mean that if when I transferred in my BTC it was worth $1200 I will be getting $1200 per btc refund?

If there's any fiat left, I guess! 

[zyk]

That's just your cynical point of view, not the 'ugly truth'. You're just making assumptions as to what most people are in it for and that's your entire argument against it? I think for many it's a combination of things. Some see Bitcoin as a better form of money because there is no central authority having a monopoly on its creation and there is no limitless supply that can be created out of nowhere. It also cuts out middlemen like banks which is also a very positive thing for many. Others just see it as a practical tool to move money around and across borders almost for free. Anyway there are many reasons why people would like to get into Bitcoin, not just to make a lot of money. But even if it's only about becoming rich for some, how is that different from the people who invested early in Apple or Google? Are those companies bad because of greedy speculators/early adopters as well? There is a lot of risk involved with it too, so it's not an easy way to get rich at all because there is absolutely no guarantee that Bitcoin will succeed. I may lose it all if it fails. So in short I think your argument is flawed and biased but hey, you're entitled to your own opinion.

I base my argument on experience how people here express themselves and react on different arguments.
It's different from investing into Apple or Google, because people actually built things that matter with these investments. With bitcoin the investments mostly go to mining. In other words to build machines that in the general perspective don't contribute to anything. The problem with bitcoin is that it causes arms race in mining, while the increasing size of the network doesn't actually improve anything. It doesn't improve the speed nor security. Just empty work done and resources wasted for something that could be done with a lot less.
The system did make sense in a time where there were only CPU/GPU mining and no pools, but now it's only a fools game with unnecessary wasting.

You are right on all accounts !

and it seems that the cryptomoney idea will punish those centralising endeavours by itself...P2P exchanges will gain traction as those centralised behemoths get shunned..it will refuse to go up in value even as its real world use grows and then there is Litecoin

[Amechan]

That could be a way to move the market.

So does this mean that if when I transferred in my BTC it was worth $1200 I will be getting $1200 per btc refund?

If there's any fiat left, I guess! 

Where is this from? GOX is not showing any update for me.