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

[solex]

I like you when you are feeling optimistic!

[aminorex]

You are saying that situation 1 and situation 2 are clearly similar and that this should be the point of our discussion.. for me to supposedly need to defend why situation 2 is different from situation 1.  I think that it is illogical and silly for me to have to argue with some silly notion that these two situations are the same, when clearly, they are NOT the same - even though both situations make you feel the same way.. robbed.

I think the only possible germane difference is the party demanding the funds.

A community acting to get you to pay your fair share contribution into the community is NOT the same as someone taking money from you

The critical terms here are "community" and "fair share".  If I can't opt out, it's not a community, its a gang.  Also, "fair share" is very much up for debate.  If the "community" decides that a "fair share" is 100%, are you cool with that?

[JayJuanGee]

Hey I'm new here, but I thought I'd go ahead and share my speculations.


As you can see, to me, it seems as if we may be in for a third "echo" (not repeat--as I've been told markets don't repeat, etc)
http://oi61.tinypic.com/oje520.jpg
source: http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zl

(Please let me know if I'm breaking rules or something...I don't want to be disruptive!

You are doing the one thing everyone else is supposed to be doing!

+1 nice charts

Thanks guys, good to know I'm in the right place for this stuff!

If my speculations are at all accurate...I'm very much looking forward to the next few months  

Thanks a lot for the projection bpnave!!   

I get the sense that many of us, here, are engaging in a kind of best guestimates of the future.. 


I see that you are projecting, more or less, a break out in the summer time-frame... (june or july-ish)

So my question is whether we expect to go above $1,200 at that point?  and then will we stay at some point in which the lows are higher than the previous high?    meaning that the lows would thereafter remain higher than $1200.  Surely, I get the sense that sufficient BTC infrastructure and networking around bitcoin is allowing for such price break outs and higher highs and higher lows... .which would also bring with it, less volatility.

[ErisDiscordia]

[snip]
I am NOT opposed to change, and I am NOT opposed to lessening government or getting rid of it, in the event that better systems can be established.  Bitcoin can certainly assist in the direction of providing freedom to greater numbers of people and transparency to monetary and/or other transactional systems. 

This is nice to hear and I assure you I am trying to understand your position and have a good debate.

What bothers me now is your reaction to the idea of "taxation = theft". When this was mentioned you went into a rather angry tirade stating over and over again, that this concept is so ridiculous, that it shouldn't even be taken seriously, but nowhere have I seen you actually explain why. I think this is a hint to why we differ, even though I could put my signature below your quote up there. It seems that to you government = society (or a meaningful representation thereof). Which, incidentally to me represents a concept so absurd and obviously untrue, that it shouldn't even be taken seriously. I won't explain why, though. If queried, I will repeat again how ridiculous it is

I think that on the face of the matter, your bare assertion that situation 1 and 2 are substantially similar is  illogical,  incomprehensible and unworthy or serious discussion...  Even though the two situations may appear to be similar, they are NOT.. which should be obvious and clear on the face.  I think that i adequately explained this over and over and in sufficient detail without having to have the need to elaborate about the obvious, and I do NOT see the point of continuing such a silly-ass discussions if some people continue to think and to argue that taxes and thievery are the same things.... b/c posters like this are living in a sort of parallel reality of LaLa land and a simplistic world to be making such basic assertions to attempt to equate situations that are clearly NOT the same.... even though they "feel the same."  

And this after you put taxation and theft side by side and basically described them in the same words? I am inclined to believe now that you are trolling in some sophisticated manner, otherwise this huge overreaction would seem to me to be the defense mechanism of a very dearly held dogma.

[zyk]

NEW YORK (MarketWatch) -- The Financial Industry Regulatory Authority, or Finra, on Tuesday issued an investor alert on bitcoin, saying digital currencies are "more than a bit risky." The agency said the alert was intended to caution investors about the risks inherent in buying and using digital currencies like bitcoin. That includes risks from speculative trading and potential fraud related to bitcoin companies, the alert said. The move came after the collapse of the bitcoin exchange Mt. Gox in late February, which filed for bankruptcy in Japan and the U.S. said it lost customers' bitcoins. "Digital currency such as bitcoin is not legal tender," the Finra alert said, which also warned about the lack of safeguards in place for consumers, the irreversibility of bitcoin transactions, and its association with illegal activities.


http://www.marketwatch.com/story/finra-alert-says-bitcoin-more-than-a-bit-risky-2014-03-11?reflink=MW_news_stmp

Thx FINRA. We were all unaware that bitcoin is a speculative investment.

Everyone here are also aware that most of the bitcoins are owned by anonymous people, who in all probability and considering the history, are drug dealers, computer crackers or confidence man. By trusting your wealth in bitcoin, you are trusting that this criminal element won't dump their coins to acquire your wealth as their own.

Why do you post here?

You sound like the annoying brat telling a group of smokers how bad it is for their health over and over. What's it to you? Light up or screw off.

Loooooooooooooool

keep the revolution going!!!

[adamstgBit]

yup
its offical.
i drew some lines

[rjp55]

I miss Adamstgbit countdowns...

[JayJuanGee]

You are saying that situation 1 and situation 2 are clearly similar and that this should be the point of our discussion.. for me to supposedly need to defend why situation 2 is different from situation 1.  I think that it is illogical and silly for me to have to argue with some silly notion that these two situations are the same, when clearly, they are NOT the same - even though both situations make you feel the same way.. robbed.

I think the only possible germane difference is the party demanding the funds.

YES!!!!!     Germane and essential.  Creates a whole different set of facts, meanings and outcomes.  It is like having sex by oneself or with someone else.  In the second situation, with someone else, we complicated circumstances and the potential of making a baby.  The second situation is materially different from the first, even though the two situations may feel similar.

A community acting to get you to pay your fair share contribution into the community is NOT the same as someone taking money from you

The critical terms here are "community" and "fair share".  If I can't opt out, it's not a community, its a gang.  

Again, reverting into bad logic when coming to the belief the community is ganging up on you.

Also, "fair share" is very much up for debate.  If the "community" decides that a "fair share" is 100%, are you cool with that?

Yes.  These kinds of discussions are had all of the time concerning fair share.  We have had times in fairly recent US history in which the marginal tax rate was more than 90% for the wealthiest among us.  There are various factors that go into considering tax rates, and maybe circumstances may require 100%, but likely very rare circumstances.  You are creating very extreme scenarios if you are suggesting that 100% would be or should be accepted as normal.  Personally, I am of the sense that the very wealthy in the american society (the top 1-5%) have NOT been paying their fair share of taxes, and that is a very significant reason why a large number of americans are currently being screwed and gouged in a variety of ways.  Also the very wealthy have been receiving various subsidies that they do NOT deserve... and are leaching off of the american people and that is also a very significant reason why a large number of americans are currently being screwed and gouged in a variety of ways.   

[tarmi]

Bitcoins are owned by evil people?  Well if we want to get philosophical about it, we all are sinners so I guess it could be true.  

I worship Zeus, and to me, you christian sinners should all burn in hell rot in Hades.

[bpnave]

Hey I'm new here, but I thought I'd go ahead and share my speculations.


As you can see, to me, it seems as if we may be in for a third "echo" (not repeat--as I've been told markets don't repeat, etc)
http://oi61.tinypic.com/oje520.jpg
source: http://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zl

(Please let me know if I'm breaking rules or something...I don't want to be disruptive!

You are doing the one thing everyone else is supposed to be doing!

+1 nice charts

Thanks guys, good to know I'm in the right place for this stuff!

If my speculations are at all accurate...I'm very much looking forward to the next few months  

Thanks a lot for the projection bpnave!!   

I get the sense that many of us, here, are engaging in a kind of best guestimates of the future.. 


I see that you are projecting, more or less, a break out in the summer time-frame... (june or july-ish)

So my question is whether we expect to go above $1,200 at that point?  and then will we stay at some point in which the lows are higher than the previous high?    meaning that the lows would thereafter remain higher than $1200.  Surely, I get the sense that sufficient BTC infrastructure and networking around bitcoin is allowing for such price break outs and higher highs and higher lows... .which would also bring with it, less volatility.

Yeah, I think you're right. If it follows the previous patterns, we'll go far above and stay above $1,200, especially seeing as we're getting pretty darn logarithmic overall growth so far! Either we break that pattern, or things will start looking pretty incredible.

[macsga]

No lines are needed. We're in...

CCMF mode!

 

[TERA]

Post above killed my optimism.

I wonder if 645 is the new 825, we reach it several times, and every time we reach it, there is "CCMF", trains, and rockets, but then eventually we fall again...

You could draw the downtrend on a logarithmic scale instead of a linear scale and then there is a lot more time.

[Walsoraj]

No lines are needed. We're in...

CCMF mode!

 

Disagree. Foolish to attempt pumps while total bid sum is decreasing. We'll erase all progress by next Monday.

*edit*

forgot smileys: 

[elebit]

After the rise ends, you have your slump, your hump, your re-rise, a level area, and then a very large rise.

You're not the first one to notice these patterns to the Bitcoin value. But just because it's behaved that way in the past doesn't necessarily mean it will do the same again ... or does it?

The bounces haven't been totally symmetrical. The slump during summer 2013 was a lot shorter than most people expected.

[bpnave]

Bitcoins are owned by evil people?  Well if we want to get philosophical about it, we all are sinners so I guess it could be true.  

I worship Zeus, and to me, you christian sinners should all burn in hell rot in Hades.

Did the Greeks actually worship Hades? Was it reluctantly? Maybe the Disney film is messing me up lol      

[zyk]

yup
its offical.
i drew some lines

as long as LTC/BTC is not going to a quarter instead of a quartinimi ,  all craptofuck is a completly brain - dead , sucker, dead -cat. ponzi, rip-off

sheeple raping while jumping off a cliff lemmings decapitating scheme.....got this ? or are a bug hoping for parrol??

[BitChick]

My jaw literally dropped on the floor when I read this on Reddit just now!

Overstock CEO just emailed 41.7 million people about Bitcoin and why he believes in it!  That is bullish!  (It is the Wired article that came out a while ago about him.  It is a good article BTW.)

http://www.overstock.com/80786/static.html?ehid=EF916438FE97B21EE040010A249C4B4A

[elebit]

I wonder if 645 is the new 825, we reach it several times, and every time we reach it, there is "CCMF", trains, and rockets, but then eventually we fall again...

The fall to 820 was on lower volume. There sell volume has been quite large in the 600s. When do you expect that money to buy back in? Are they cool enough to wait for the 500s? I'm not so sure.

[TERA]

Log scale downtrend. I'm such an ass...

[JayJuanGee]

[snip]
I am NOT opposed to change, and I am NOT opposed to lessening government or getting rid of it, in the event that better systems can be established.  Bitcoin can certainly assist in the direction of providing freedom to greater numbers of people and transparency to monetary and/or other transactional systems. 

This is nice to hear and I assure you I am trying to understand your position and have a good debate.

What bothers me now is your reaction to the idea of "taxation = theft". When this was mentioned you went into a rather angry tirade stating over and over again, that this concept is so ridiculous, that it shouldn't even be taken seriously, but nowhere have I seen you actually explain why. I think this is a hint to why we differ, even though I could put my signature below your quote up there. It seems that to you government = society (or a meaningful representation thereof). Which, incidentally to me represents a concept so absurd and obviously untrue, that it shouldn't even be taken seriously. I won't explain why, though. If queried, I will repeat again how ridiculous it is

Yes, if the topic of this thread concerned the role of government in society or some discussion such as that (or how to transform to a government society), then I would be more than willing to engage in such discussion, if I had the stomache to be involved in such a thread.

Surely, a variety of topics may come up in a thread, and the discussion of such topics spiral much further away from the thread.  Here, I believe that I have sufficiently explained my concerns about attempts to equate theft with the government as being inadequate at best and silly at worst....

Likely, the topic of taxation or the role of government may come up again, and we can discuss further at that time.  Why do we need to belabor points that clearly have been adequately addressed?  and if we either do NOT understand each others points or we do NOT agree, then we can still move on b/c I feel that I am just repeating myself, and I do NOT feel that I have any obligation to explain my position any further than I already have explained.

I think that on the face of the matter, your bare assertion that situation 1 and 2 are substantially similar is  illogical,  incomprehensible and unworthy or serious discussion...  Even though the two situations may appear to be similar, they are NOT.. which should be obvious and clear on the face.  I think that i adequately explained this over and over and in sufficient detail without having to have the need to elaborate about the obvious, and I do NOT see the point of continuing such a silly-ass discussions if some people continue to think and to argue that taxes and thievery are the same things.... b/c posters like this are living in a sort of parallel reality of LaLa land and a simplistic world to be making such basic assertions to attempt to equate situations that are clearly NOT the same.... even though they "feel the same."  

And this after you put taxation and theft side by side and basically described them in the same words? I am inclined to believe now that you are trolling in some sophisticated manner, otherwise this huge overreaction would seem to me to be the defense mechanism of a very dearly held dogma.

You can believe that I am trolling all that you want, but such beliefs are ill founded.  I provided explanations for my various assertions, and the fact that you don't agree with my assertions or you do NOT understand my points does NOT a troll make. 

Yes, I recognize that in the bitcoin community there are a lot of people who are hostile to the concept of government and hostile to the idea of taxation.  I am of the belief that it is pie in the sky for people to believe that in the short term bitcoin is going to allow for major transformations in these regards to either get rid of government or to get rid of taxation.  However, I do recognize that bitcoin has a lot of potential to transform society in a lot of meaningful ways, including but NOT limited to transforming government, taxation, individual liberties and transparency.