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

[pungopete468]

*Patiently waiting for a Chinese Bail-in*

I had a dream last night... I was watching the Bitcoin price chart at $640 and then all of a sudden the price just started skyrocketing, it went to $1,200 and then $5,000 in minutes... Then I woke up and thought, "well that was a wishful dream."

Strange times indeed...

[JayJuanGee]

You seem to be assuming that voluntary is more efficient and you seem to be assuming voluntary results in a higher contributions through some kind of adequate participation rate. 

Obviously voluntary contributions are more efficient because people resist being forced to do stuff. They evade, avoid, run, hide, and fight back. Monopoly welfare providers also face no competitive pressure to be efficient.

"Obviously"..... yeah, right.. so obvious that you are speculating.  just making things up on some kind of logic in your head that sounds convincing to you and to the other libertarians who want the facts to be what you speculate them to be.

If participation is inadequate, we have two options: I prefer persuasion and you chose coercion. 

  There you go creating my position.  Having mandatory, is NOT the same as coercion.. b/c a large majority of the people do NOT need to be coerced to follow rules of their own making and a society of their own choosing and a community in which they chose to live... I would NOT call that coercion.  But you want to call it coercion in order that you can knock it down and to show all of its flaws.  Your thinking is very incomplete in these regards.  Maybe you need to get away from your imagination and meet people and talk to people and you will see that there are different viewpoints out there that need to be accounted... also, that is called listening.

 The danger with coercion is that the coercive mechanisms remain in place and can be used for socially harmful as well as socially beneficial ends.  Taxes fund war, graft, secret police, etc.

YES... I agree that there are a lot of problems with various ways that tax money gets put to work to carry out dirty deeds.  Sometimes the dirty deeds are mixed in with what is arguably justifiable... and yes we do find out about tragedies being committed in our name ...   And, some of these may be solved by taking away funding or may be solved by better election procedures or may be solved by greater transparency... there is NOT only one solution to these kinds of negative application of the arm(s) of government.

[JayJuanGee]

*Patiently waiting for a Chinese Bail-in*

I had a dream last night... I was watching the Bitcoin price chart at $640 and then all of a sudden the price just started skyrocketing, it went to $1,200 and then $5,000 in minutes... Then I woke up and thought, "well that was a wishful dream."

Strange times indeed...

Why didn't you wake up and say, "fuck, I should have bought more bitcoin at $640...."       

[freebit13]

Looks like China is firmly in the "then they fight you" phase... some turf wars are brewing. We might just get some new passengers on this train with all this advertising 

[pungopete468]

*Patiently waiting for a Chinese Bail-in*

I had a dream last night... I was watching the Bitcoin price chart at $640 and then all of a sudden the price just started skyrocketing, it went to $1,200 and then $5,000 in minutes... Then I woke up and thought, "well that was a wishful dream."

Strange times indeed...

Why didn't you wake up and say, "fuck, I should have bought more bitcoin at $640...."       

Because that's exactly what I did! I bought as much as I could afford today... lol

[billyjoeallen]

 Having mandatory, is NOT the same as coercion.. b/c a large majority of the people do NOT need to be coerced to follow rules of their own making and a society of their own choosing and a community in which they chose to live... I would NOT call that coercion.  

If I resist paying taxes, the government intervenes with the threat of force. Threat of force is the very definition of coercion.

If people are really choosing to make rules to provide welfare, then they can skip the intermediate step and chose to provide welfare. Everything else is coercion.

[Bagatell]

China's slice of the total volume increased again  from 86% to 88%.

The market is not the economy.

[Salivan]

*Patiently waiting for a Chinese Bail-in*

I had a dream last night... I was watching the Bitcoin price chart at $640 and then all of a sudden the price just started skyrocketing, it went to $1,200 and then $5,000 in minutes... Then I woke up and thought, "well that was a wishful dream."

Strange times indeed...

I had  the same dream in December, didn't happened

[dreamspark]

2000BTC wall at $630 will it be pulled?

[S3052]

why are we moving down? i expect to hit $700+ this weekend

we are at the end of another triangle it seems. the next day or so should be pretty interesting.

there is a different (and in my eyes more appropriate) way to construct the triangle
and under this view, it is bearish

[dreamspark]

why are we moving down? i expect to hit $700+ this weekend

we are at the end of another triangle it seems. the next day or so should be pretty interesting.

there is a different (and in my eyes more appropriate) way to construct the triangle
and under this view, it is bearish

I think theres room for a little bearish movement still, take out the whale spike up to 700 a week or so ago and the charts would still be even further locked in the down trend. I do hope we go down a bit first, could do with some more cheap coins 

[soullyG]

Some more info about the payment processors being stopped in China:

http://ca.news.yahoo.com/china-central-bank-orders-halt-online-payments-using-034119459--sector.html

HONG KONG/BEIJING (Reuters) - China's central bank demanded on Friday that payments made by scanning a bar code with mobile devices be halted, hitting the payment arms of Internet companies Tencent Holdings Ltd and Alibaba Group Holding, amid concerns over the security of their verification procedures.
The move is the latest in a series of clashes between China's finance sector and Chinese Internet companies, which have pushed into the banks' territory by ramping up their own financial services, offering online payment services and wealth management products.
Tencent, China's largest listed Internet company, and e-commerce firm Alibaba confirmed to Reuters that they had received a notice from the People's Bank of China (PBOC) about the move.
A PBOC spokesman said the bank is asking the companies to submit detailed reports on their procedures.
"The notice was issued all of a sudden ... This notice had a great impact on our business," said an official from Alipay, Alibaba's online payment affiliate, who declined to be identified as they were not authorized to speak to the media.
The PBOC document was issued "in order to protect the payment service market, and prevent payment risks", a source who saw the notice told Reuters.
Shares of Tencent slid as much as 7 percent in Hong Kong.
China CITIC Bank Corp suspended trading of its shares after the stock fell 8 percent in Shanghai and 7 percent in Hong Kong. China CITIC Bank has said it will operate virtual credit cards with Tencent and Alibaba that use the payment process, known as a "QR" code.
QR codes are bar code-like images that can be used to transmit web addresses, payment details, or other information.
China CITIC Bank told Reuters it had not received any document from the PBOC.
Analysts said other new offerings or technology could also be at risk.
"It is a negative sign to the market. The central government steps in to control a supposedly very free and innovative area of business. That means even if it is an innovative segment, it is not as free as we have anticipated," said Alex Wong, a director at Hong Kong-based brokerage Ample Finance Group.
MARKET JITTERS
China's mobile payment market recorded 1.22 trillion yuan ($199 billion) in transactions in 2013, according to Beijing-based data firm iResearch.
While some analysts said QR payment technology is in its infancy, iResearch said QR code payments would be a driving force in the mobile payment market this year, although it currently had no specific data for QR payments.
In February, Alipay said it handled 900 billion yuan in mobile payment transactions from more than 100 million users last year, completing more mobile payments than U.S.-based PayPal and Square Inc combined.
The PBOC said in December it would closely monitor the development of online financial services to ensure companies do not cross any legal red lines.
"If the government is pushing back on the QR code thing, it's probably a temporary thing until the government figures out what is going on," said Michael Clendenin, managing director of Shanghai-based RedTech Advisors.
China's Internet companies have repeatedly clashed with entrenched interests in the finance sector, as companies like Tencent, Alibaba and Baidu Inc push further into their territory.
In August, Chinese media reported that Alipay halted its offline point of sales service for small companies.
The move came after state-owned China UnionPay, the country's monopolistic credit card provider, put pressure on Alipay to route the service through UnionPay's system so it could increase its commission earnings on transactions.
Tencent and Alibaba said this week they are applying for licenses from the bank regulator to participate in a trial plan for privately-owned banks. Both firms have announced they would launch virtual credit cards.
These virtual cards allow customers to use credit to pay for products through Tencent and Alibaba's payment arms.
(Additional reporting by Paul Carsten and Alice Woodhouse in HONG KONG and; Pete Sweeney and Gabriel Wildau in SHANGHAI; Editing by Anne Marie Roantree & Kim Coghill)

[Bagatell]

I do hope we go down a bit first, could do with some more cheap coins 

A pox on all cheapskates. 

[Spider]

*Patiently waiting for a Chinese Bail-in*

I had a dream last night... I was watching the Bitcoin price chart at $640 and then all of a sudden the price just started skyrocketing, it went to $1,200 and then $5,000 in minutes... Then I woke up and thought, "well that was a wishful dream."

Strange times indeed...

It wasn't a dream... it was a price of bitcoin on bitcurex exchange during break-in this morning. We're doomed!

[soullyG]

Interesting interview with Cody Wilson (guy who produced the world's first fully 3d printed gun) on BBC's HARDTalk, about decentralization, how technology aids this idea, and Bitcoin

EDIT: this is on BBC iPlayer so will be blocked for everyone outside the UK (thanks Bagatell for the headsup), I recommend using TunnelBear if you don't have access to a VPN

[Bagatell]

Interesting interview with Cody Wilson (guy who produced the world's first fully 3d printed gun) on BBC's HARDTalk, about decentralization, how technology aids this idea, and Bitcoin

UK only  but the guy has a load of other vids Thanks.

[dreamspark]

UK only  but the guy has a load of other vids Thanks.

VPN bro. Its worth a watch.

[hdbuck]

meanwhile.. fellow polish analyst at citigroup chose to get his pension fund in BTC...
bullishhhhhh  


(edit: implying that the Bank itself give him the choice to do so...)

[PrintMule]

UK only  but the guy has a load of other vids Thanks.

VPN bro. Its worth a watch.

Seriosly, fuck this geofencing shit! Why do I need to bother with proxies and shit? I hope those media companies die in a fire. Fuck! Even if I lived there, I would not see any of their adverts, because that shit is blocked. Not cool, man.

[obitoo]

UK only  but the guy has a load of other vids Thanks.

VPN bro. Its worth a watch.

Seriosly, fuck this geofencing shit! Why do I need to bother with proxies and shit? I hope those media companies die in a fire. Fuck! Even if I lived there, I would not see any of their adverts, because that shit is blocked. Not cool, man.

Its the BBC, so there arent any ad's, thats kinda the point - the brits pay tv tax for it, so why should anyone else get to watch it for free who hasnt paid?  (thats the govt sentiment, not mine -before you shoot me down!)