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

[MikeH]

oh dear, a reddit poster has just revealed an anagram of "Satoshi Nakamoto" is:

Aha, Masons Took It


SELL! SELL! SELL!

[maximum]

EVERYONE SELL SO I CAN GET SOME MORE

[ShroomsKit]

EVERYONE SELL SO I CAN GET SOME MORE

Like how many more? 3? 5?

And why didn't you buy earlier?

[600watt]

The Doomsday Cult of Bitcoin
By Kevin Roose

On December 21, 1954, a woman named Dorothy Martin thought the world was going to end. Martin, a Chicago housewife, claimed to have received a message from aliens, warning her of an impending flood that would kill everyone on earth except for true believers, who would be carried away to safety on a flying saucer. For months, Martin had been gathering a band of followers who called themselves the Seekers and quietly prepared for their alien abduction. The Seekers left behind family and friends, sold their possessions, and on December 20, they waited. When midnight came, they waited some more.
When they realized the flying saucer wasn't going to come, and that Martin's prophecy had been wrong, something odd happened: Rather than giving up, the Seekers began furiously calling up newspapers and trying to spread their message as widely as possible. In order to overcome the cognitive dissonance of their situation and convince themselves their sacrifices had been worthwhile, they needed to proselytize.
This is, we now know, a psychologically normal response for prophetic groups whose central predictions fail to come true. And today, you can see something similar going on with another group of failing zealots. I'm talking about the cult of Bitcoin.
For months now, Bitcoin soothsayers have proclaimed that the virtual currency is going to Change Everything. The mass adoption of Bitcoin, they told us, would utterly transform the way the world stores and exchanges value. Government-backed currency would become obsolete. Farmers in Kenya would use the same Bitcoin-based payment systems as cafés in the Mission. With the future of money in the hands of Satoshi Nakamoto's brilliant protocol, inexact central planning would be replaced by algorithmic decentralization.
Of course, none of that has happened. And it's exceedingly likely that none of it will. (...)

it is really funny. first the nay sayers told us it will never work, the guys who try it are idiots. now, as they realize that bitcoin is still around they bring on the next move: ha, bitcoin hasn´t achieved what the bitcoiners say it would = must be bad.

it went kind of fast from: it will not succeed to see, it hasn´t succeeded  



http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

[tarmi]

everybody shorting

[schizoid]

If someone sells GoxBTC to his customers because only he knows that GoxBTC aren't back by any real BTC and he needs to raise cash, then that is fraud.  

If he doesn't sell, and as a result GoxBTC buyers pay much higher prices for worthless coins, is that better?  (Assume hypothetically that he cannot disclose what he knows)

[Erdogan]

[...]
As for the reactions, I don't mind people blasting my ideas.  To those who take it on my person instead, I warn again, don't push it -- you don't know what I am capable of (both in the sense of "having the means" and "having no mercy".)  Anonimity, distance, firearms, friends in the Yakuza, tears from you mom -- nothing will protect you.

I suppose this is some form of bizarre humor, but anyway, this is the "threaten" part of the the statists' agenda. The comfort part is, of course, salvation by regulation. If you are free, you will destroy each others. Be glad you have us, or else.

This is the dream of the lower ranked agents of the state. Suffer, but dream of the revenge. The problem is that this kind of power is reserved for the elite. When you are not needed anymore, you are converted to Soilent Green.

[Miz4r]

Seems like a lot of selling today, how low will it go? 630'ish on stamp?

I would expect to see at least a 50% retracement from that panic buying spree, so 630-ish seems probable. Maybe lower to 612 even.

[KeyserSoze]

The Doomsday Cult of Bitcoin

it went kind of fast from: it will not succeed to see, it hasn´t succeeded  

Hyperbolic headline grab, nothing more.

[dreamspark]

Four hour MACD about to kiss on stamp. Will be interesting to see if the bid sum goes up at all today, the asks around 700 have been building up as well.

[Peter R]

If someone sells GoxBTC to his customers because only he knows that GoxBTC aren't back by any real BTC and he needs to raise cash, then that is fraud.  

If he doesn't sell, and as a result GoxBTC buyers pay much higher prices for worthless coins, is that better?  (Assume hypothetically that he cannot disclose what he knows)

Fair point--as soon as the theft was known it should have been disclosed if it meant that the company was now insolvent (after disabling deposits, withdrawals and trading).

[creekbore]

A well written article, if it were written about something else. Global warming comes to mind.

That's an interesting article: there are no doubts there's gong to be a major financial storm pretty soon as the sins of the recent past catch up with the global market, however whether BT will 'save' us is pretty dubious.

However, parallels with global warming are not accurate, it's a pity so many sceptics and deniers inhabit this forum but I imagine the US media has a lot to do with this (as well as your education system).

I'm on a ferry on the Tasman strait and can't be bothered producing all the academic references.  But even the 'skeptic' scientists who were employed by the corporate PR companies have jumped ship -- the evidence is now overwhelming.  Hopefully, a few more super-storms will hit the east coast, wake you from your insular torpor.

But loving the new, aggressive JorgeStolfi.

As for the market....well, I can see some choppy water ahead: volume seems low, the bid order sum is reducing and I have no idea how we managed to breach 700 but I can't see that happening again until the constant flow of negative sentiment recedes.

No. There have been now two separate events where climate scientists have been busted doctoring data. Their warming models have failed repeatedly. You have no way to prove that current storms have anything to do with any sort of warming event. We just had one of the coldest summers and winters on record. The recent expedition by the global warmers were stuck in record ice caps as they attempted to document the shrinking ice caps.

NO!
There have been a number of times when the private emails of climate scientists have been intercepted (by whom I wonder), then leaked and the wording interpreted as 'doctoring' ... you should research both sides of that 'story'.

Since the first ICCP Report severe weather events have become more frequent and more severe...perhaps you should talk to the President of the Phillipines (or see his recent talk to the UN) and ask him about correlation.  

Yep, you've just had a cold winters...in Australia we've just had one of the hottest summers.  But you are willing to dismiss science now backed by >95% of the scientific community because you had a mild summer?

Perhaps read this rather than stuff in the media:
http://www.nature.com/nclimate/journal/v4/n3/full/nclimate2106.html

@bb113
There are some pretty fundamental differences between Earth and Venus....like an oxygen rich atmosphere to start with.  A functioning biosphere...life?

@aminorex
Well, when I was a journalist I covered the first ICCP report back in 1995 and I've been following it ever since.  All I can say is the science has progressed so perhaps you should do some looking rather than bashing away with your impressive lexis.

I find it ironic that you claim a political agenda to subjugate the developing world when much of the problem lies with the life style of the developed world which is promoted to the developing world as 'ideal'.  I imagine the majority of climate scientists would prefer YOU changed your behaviour rather than the poorest peoples, who face displacement, famine and poverty due to climate related changes and events.

@whoever...the Aussie
er...our PM is the biggest sceptic there is and has just appointed a sceptic as head of the climate change dept, reporting directly to him.  So, i'd say the sceptics have a very loud voice.

But then, what does the entire scientific community know as opposed to a few faceless folk who trade Bitcoins; obviously you are all far better qualified and experienced -- you are all such experts in pretty much everything I wonder why you need to spend so much time trading BTC, shitz and gigglz I guess, you must all be ahead in your field and rich beyond imagination.

EDIT: whay hay page 5400 and as OT as ever

[cee-euros]

btc-e much manipulation

[fonzie]

Just an average week in Bitcoinland....

MtGox
Poloniex
Flexcoin
First Meta
BTC-E??
Bitstamp??

[schizoid]

it went kind of fast from: it will not succeed to see, it hasn´t succeeded  

Buttcoin.org is ahead of the curve. They've gone to "Ok, it is succeeding, but it's full of nerdy white males you don't want to be seen with."

[magicmexican]

I pm'd Mark on irc, asking if he is working on re-opening the exchange and he said yes.

Did not expect that he would react to my questions

[dreamspark]

I pm'd Mark on irc, asking if he is working on re-opening the exchange and he said yes.

Did not expect that he would react to my questions

How does he plan on opening an empty exchange? I'm sure people thought he would try and open it if all the funds werent gone but at this point just how does he plan on running an exchange with no coins that has just been plastered over the news as the bankruptcy of bitcoin a long with all the stories of peoples lives ruined by this.

[hdbuck]

Just an average week in Bitcoinland....

MtGox
Poloniex
Flexcoin
First Meta
BTC-E??
Bitstamp??

i'll bet btc-e shuts down before stamp.

[ShroomsKit_Disgrace]

I pm'd Mark on irc, asking if he is working on re-opening the exchange and he said yes.

Did not expect that he would react to my questions

Did you become a Troll? Or should I trust you as I have made until today? 

[tarmi]

Just an average week in Bitcoinland....

MtGox
Poloniex
Flexcoin
First Meta
BTC-E??
Bitstamp??

i'll bet btc-e shuts down before stamp.

russians know how to run a shady business. so, bitstamp first.