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

[JorgeStolfi]

The newbie recruits who are easy to impress are waiting at south- and central-america. I'm waiting for bitcoin to enter those untouched markets. I would go back bullish for this new bubble and maybe I'll sing the same song with people here how bitcoin will save the world and how every time you buy a bitcoin, then you save a kitten.

Are you trolling me? 

Perhaps you weren't yet reading this thread when the Bitcoinrain/MercadoBitcoin case was discussed here.

We already have "bitcoin investment" here, thank you.

Some links to get you started:
https://bitcointalk.org/index.php?topic=46750.msg556437#msg556437
https://bitcointalk.org/index.php?topic=46750.msg3607991#msg3607991
http://defendaseudinheiro.com.br/a-verdadeira-historia-do-mercadobitcoin/

[ErisDiscordia]

The price is so boring the last day or so that nobody bothers discussing it anymore...you know what this means?

WE HAVE DONE IT! BITCOIN IS FINALLY STABLE!

[Walsoraj]

Playboy removed the pay with bitcoin option. GAME OVER MAN, GAME OVER.

[flynn]

Playboy removed the pay with bitcoin option. GAME OVER MAN, GAME OVER.

Damn ... I'll have to read Hustler again

[meanig]

Bitcoin was already trusted in around 2011. Mainly in a drug community, but still.
The new currency needs security and a more user-friendly usability. The attention will come quickly because there is already a lot of attention on the subject. Bitcoin had to catch the attention on the entire subject itself. If a crypto emerges with better qualities, then people will start jumping cryptos fast. It's the nature of products that are supported mostly by hype. Support from hype is a fragile thing because people will get amazed by new alternatives very quickly. I think that doggecoin perfectly showed the nature of bitcoin. You don't even need a better quality product and simplistic lowbrow hype was all it needed to become quite popular.

Are you fucking joking? Bitcoin had no credibility in the eyes of the outside world back in 2011. SilkRoad was very small back then so you can't even say the online drug community trusted it. One fuckup after another along with the slow slide in price gave the few people who had heard of it ammunition to shit on Bitcoin at every opportunity. It all culminated in the infamous Rise and Fall of Bitcoin article in Wired at the end of the year. I need to stop now or I'll have nightmares about Bruce Wagner's grin and the mybitcoin heist. Where are you Tom Williams???

 

[sickhouse]

The price is so boring the last day or so that nobody bothers discussing it anymore...you know what this means?

WE HAVE DONE IT! BITCOIN IS FINALLY STABLE!

Hah, yeah untill the next bust of SR2 or the next big company bites the dust, or untill a new company shows up!
Dream on XX

[Kupsi]

WE HAVE DONE IT! BITCOIN IS FINALLY STABLE!

Just like proudhon announced in March 2012

https://bitcointalk.org/index.php?topic=68274.0

[empowering]

Interesting little bit of trivia.... this happy looking chap for those of you that do not know is Joseph Goebbels, or Joe Gobbler as I like to call him

That chilling look of disdain on his face, is because he has literally just been told that the photographer taking the photos is Jewish!

Look at the pure hate!


 
So eyes, much hate!

As you were.

(Edit: Never forget the level of mindless assholes that exist in the world)

[ChartBuddy]

Explanation

[kkaspar]

It was launched in 2009, your "trust" estimate is hardly quantifiable.. and now all of the coins have another element to slow them down "competition"
so the road you describe is not as simple as you make out.... and Dogecoin is still no where near as big at Bitcoin, and if you somehow think that it
will manage to overcome problems that you see in Bitcoin then I would like to know why, as I see problems coming for Doge, partly because it is a immature network. Besides we are not talking "become popular" you are saying get bigger than Bitcoin with 1 year or 2 , and it will be a superior coin, and that is does not exist yet... I am not refuting you outright... I am asking you to describe the birth and journey of this coin and what will make it what you say.

Also it is one thing to say that you can innovate a new coin, with superior features, that will appeal to people, but another to actually do it...
 
Writing, coding, testing, creating these special Bitcoin beating features you propose is all going to take time (I mean do you know what these features are? can you list some of them) as is getting miners onboard, and then reaching the network size of the BTC, unless they come up with a way to make a huge network spring up overnight.

I think there is going to be competition, and there will be "more than one"

But your timeframe of another coin reaching the network size, the marketcap, merchant use, public awareness etc of one to two years is tight...not impossible but tight... as in we must surely be seeing this coin be born anyday now?  

Please do keep me posted, I would be very interested to know about this coin as soon as it appears!
 
I think while you feel others overestimate the importance of the head start and network headstart of BTC, I think you are underestimating it, as I have said I do believe there will be competition, so I am not flat out not in agreement, but I guess the next coin, the one that take its rightful place where Ripple is now, will be half the marketcap of BTC in one years time... if it is lucky...

Doge showed me perfectly that even with a product, that has no edge in quality whatsoever, can become an popular alternative even with lowbrow hype. Now imagine a coin that has better qualities and a professional marketing team behind it.
Coding has never been my thing, but what I have understood is that bitcoin isn't a good invention, but it's a good innovation. Meaning that the code in bitcoin isn't very complex but the way that the code is used and combined to serve this particular idea is the impressive part. And the thing with innovations is that they can easily be replicated and bettered. So, I think that when building will be picked up by anyone else then just some young students who do it out of boredom, then it can actually be made more refined quite quickly.

I would value bitcoins headstart more if the development of code would be faster. But it is very very slow and changes that need to be done in my eyes are not even adressed as future plans. So I picture bitcoin to be about the same as it is now in 2 years time and other people will have probably released better quality alternatives.

[zyk]

yep.......but thats all past and gone..... .there were some nice scams all along the evolution of bitcoin and now there comes the final heist...

We are as you all surely remember at the point where the first 10 k insider moving wall at bitstamp came
along ( right 4 hours before bitidiot skimmed in )  and "the sucker" lost 150000 by executing the sell - off.

Its in no way exageration to remind you that your cold wallets as well will cut at least in half by next week
and given that Mark will never be put in cuffs or made responsible for stealing half a billion in BTC assets
bitcoin will lose traction on all fronts as it will be considered a ruthless scam in itself !

Who could change that ? The community by enforcing to see the names of the sellers at Gox or the mighty
insiders at bitcoinfoundation but as they have been mostly complicit in the shenenigans  they will do nothing but:




                                                    SELL

[ardana123]

Is anyone not jealous of Mark's biceps in this picture? I know I am. He looks like he could punch through a concrete wall and decapitate the person standing on the other side of it.

[kkaspar]

The newbie recruits who are easy to impress are waiting at south- and central-america. I'm waiting for bitcoin to enter those untouched markets. I would go back bullish for this new bubble and maybe I'll sing the same song with people here how bitcoin will save the world and how every time you buy a bitcoin, then you save a kitten.

Are you trolling me?  

Perhaps you weren't yet reading this thread when the Bitcoinrain/MercadoBitcoin case was discussed here.

We already have "bitcoin investment" here, thank you.

Some links to get you started:
https://bitcointalk.org/index.php?topic=46750.msg556437#msg556437
https://bitcointalk.org/index.php?topic=46750.msg3607991#msg3607991
http://defendaseudinheiro.com.br/a-verdadeira-historia-do-mercadobitcoin/

All bitcoin needs over there is some well funded marketing, and the "investments" can begin The boom in China was triggered by just one piece in the national China news program. Now we only have to pay off some public figure over there to start promoting bitcoin as the solution to everything!
I know it's not nice to earn money at the expense of stupidity of other people, but if you do, then at least don't lie to yourself.

Africa would be the best place to promote bitcoin, because a lot of people there even get impressed by seeing heavy machinery. But sadly there is not a lot of internet in Africa..

[KeyserSoze]

Wow... volume nearly non-existent

[aminorex]

Great time to be lending BTC on bitfinex - it is sitting at an incredible 0.35% daily right now!  That is around 127% APR - compounded daily which would make it an effective annual rate of over 255%!!  Why are more people not lending BTC over there??

Perhaps because they expect BTC shorts to get squeezed into margin calls and bankruptcy?

[kkaspar]

Wow... volume nearly non-existent

Seems very bullish... a strong recovery for sure... better wire some money to gox to buy more coins.. oh wait, did something happen with gox?

[MAbtc]

Great time to be lending BTC on bitfinex - it is sitting at an incredible 0.35% daily right now!  That is around 127% APR - compounded daily which would make it an effective annual rate of over 255%!!  Why are more people not lending BTC over there??

Perhaps because they expect BTC shorts to get squeezed into margin calls and bankruptcy?

Yes, this is the #1 reason not to lend. Flash moves can simply wipe you out. However, Bitfinex has openly stated that it will roll back trades to protect liquidity providers, so take that for what you will.

[EuroTrash]

Wow... volume nearly non-existent

Bearish  

[empowering]

It was launched in 2009, your "trust" estimate is hardly quantifiable.. and now all of the coins have another element to slow them down "competition"
so the road you describe is not as simple as you make out.... and Dogecoin is still no where near as big at Bitcoin, and if you somehow think that it
will manage to overcome problems that you see in Bitcoin then I would like to know why, as I see problems coming for Doge, partly because it is a immature network. Besides we are not talking "become popular" you are saying get bigger than Bitcoin with 1 year or 2 , and it will be a superior coin, and that is does not exist yet... I am not refuting you outright... I am asking you to describe the birth and journey of this coin and what will make it what you say.

Also it is one thing to say that you can innovate a new coin, with superior features, that will appeal to people, but another to actually do it...
 
Writing, coding, testing, creating these special Bitcoin beating features you propose is all going to take time (I mean do you know what these features are? can you list some of them) as is getting miners onboard, and then reaching the network size of the BTC, unless they come up with a way to make a huge network spring up overnight.

I think there is going to be competition, and there will be "more than one"

But your timeframe of another coin reaching the network size, the marketcap, merchant use, public awareness etc of one to two years is tight...not impossible but tight... as in we must surely be seeing this coin be born anyday now?  

Please do keep me posted, I would be very interested to know about this coin as soon as it appears!
 
I think while you feel others overestimate the importance of the head start and network headstart of BTC, I think you are underestimating it, as I have said I do believe there will be competition, so I am not flat out not in agreement, but I guess the next coin, the one that take its rightful place where Ripple is now, will be half the marketcap of BTC in one years time... if it is lucky...

Doge showed me perfectly that even with a product, that has no edge in quality whatsoever, can become an popular alternative even with lowbrow hype. Now imagine a coin that has better qualities and a professional marketing team behind it.
Coding has never been my thing, but what I have understood is that bitcoin isn't a good invention, but it's a good innovation. Meaning that the code in bitcoin isn't very complex but the way that the code is used and combined to serve this particular idea is the impressive part. And the thing with innovations is that they can easily be replicated and bettered. So, I think that when building will be picked up by anyone else then just some young students who do it out of boredom, then it can actually be made more refined quite quickly.

I would value bitcoins headstart more if the development of code would be faster. But it is very very slow and changes that need to be done in my eyes are not even adressed as future plans. So I picture bitcoin to be about the same as it is now in 2 years time and other people will have probably released better quality alternatives.

easily replicated if that is the case could Bitcoin not easily adopt the new feature, and continue on with its headstart, plus a neat new feature?
and really, easily replicated innovation? so I guess the 150 odd coins that have just come out did not want to easily replicate the innovation?
Do you think that innovation is the realm of big business? is that what you are hinting at? so you are saying that a corporate coin will pop up and it will easily innovate better features, because innovation is easy? or easier with more money?bigger teams budgets?
 
You do not code, but you are making judgement calls on innovation in coding, and making judgement calls on if more bells and whistles will actually make a better product... but you still have not said much about what these features are... these betetr qualities, ease of use as in? what else will it be able to do ? and why will it attract more miners to build a bigger better decentralised network? and in the next year , two at that.... its all one thing to accuse people who are Bitcoin cultists, of using the argument "because I say it is so" but you cannot then use that argument yourself.  What are the features? and have you considered that maybe certain features may have been left out on purpose?  and that not complex is part of its genius? you see I agree with you, Satoshi did miss a few things which are problematic to the network and they may be solved by a new coin , but the ease of use argument does not hold up as this is being delt with by the surrounding ecosystem...and while innovations can be replicated... with time, effort, money but most importantly brains, a decentralised distributed network has to grow.. again when the coin pops up, in the next lets say 6 months for it to fit into your timecales... then please tell me about it straight away... it will be obvious if it is so superior, and then while the miners are abandoing BTC and the network starts to shrink, then before this coin reaches say 3 billion market cap , then I will buy lots of them... so then it will be a 3rd/quarter of BTC if BTC price stays approx static,  that will be about right, so surely about a year off right?  but we should know in the next 6 months what that coin will be...  when you find it.... you must seek me out and tell me, and I will be all ears !!! when the moment comes remember to tell us all!! we are counting on you kkaspar- this is our most desperate hour. Help me, Obi-Wan Kenobi. You're my only hope.

When it arrives I am IN.


 

probably

[windjc]

Great time to be lending BTC on bitfinex - it is sitting at an incredible 0.35% daily right now!  That is around 127% APR - compounded daily which would make it an effective annual rate of over 255%!!  Why are more people not lending BTC over there??

Perhaps because they expect BTC shorts to get squeezed into margin calls and bankruptcy?

Yes, this is the #1 reason not to lend. Flash moves can simply wipe you out. However, Bitfinex has openly stated that it will roll back trades to protect liquidity providers, so take that for what you will.

Not just stated. Have done within last couple of weeks. Like it or not they have put the reputation and security of lender money over profit of margin traders. People complain, but from a business perspective it's smart. It's still the best margin trading opp anywhere by far right now.