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

[knightcoin]

 

[Ivanhoe]

Who thinks the situation in Ukraine will spark something in the bitcoin price?

[hdbuck]

Who thinks the situation in Ukraine will spark something in the bitcoin price?

i think economical sanctions of any sort would impede the massive crisis that has managed to stay under cover so far.

[billyjoeallen]

Yes, there are bad actors and yes the scandal may implicate other players. We do want to know what happened but we're burnt out on this story. [ ... ] You dwell on the negative always.

Whatever happened at MtGOX, it is certain that some 500,000 BTC now belong to a thief or scammer.  Added to other scams and thefts, known and unknown, it may be that more than 1 million BTC now belong to bitcoin criminals.  If those people go unpunished and get to keep their bitcoins, such crimes will not stop with MtGOX.

So, if bitcoin succeeds like his most ardent fans believe, perhaps 10% of all the money supply in the world will belong to criminals.  You want me to root for that? 

AS opposed to now when most of the money supply is controlled by (war) criminals?

[hdbuck]

Yes, there are bad actors and yes the scandal may implicate other players. We do want to know what happened but we're burnt out on this story. [ ... ] You dwell on the negative always.

Whatever happened at MtGOX, it is certain that some 500,000 BTC now belong to a thief or scammer.  Added to other scams and thefts, known and unknown, it may be that more than 1 million BTC now belong to bitcoin criminals.  If those people go unpunished and get to keep their bitcoins, such crimes will not stop with MtGOX.

So, if bitcoin succeeds like his most ardent fans believe, perhaps 10% of all the money supply in the world will belong to criminals.  You want me to root for that?  

AS opposed to now when most of the money supply is controlled by (war) criminals?

pff yeah.. forget about that, in any civilisations, cultures, times.. they'll always be heists.. its because we, humans, are not perfect. stop dreaming about a criminal-free currency. aint gonna happen. NEVER.

edit: the only question is, which one is the most useful/simple/reliable?

[KeyserSoze]

Last time I discovered a type of beer called barley wine. It has 12% of alcohol but doesn't taste like it at all.

I had a Blithering Idiot tonight for first time. Very good!
http://weyerbacher.com/blog/2010/02/blithering-idiot/

[chessnut]

Who thinks the situation in Ukraine will spark something in the bitcoin price?

Do you think the Ukranians have the infrastructure to use bitcoin in times of war? I dont, I dont think it will be useful in war. However, there may be a few millionaires/billionaires in Ukraine or Russia that want to protect/hedge their fortunes. but why haven't they already done so?

[ChartBuddy]

Explanation

[seleme]

http://www.investopedia.com/articles/trading/08/gann-indicator.asp

[hdbuck]

@seleme nice! thx

[JayJuanGee]

I am fairly certain that each dollar that has been in existence for more than a couple of years, has passed through the hands of at least 10 criminals.

That is quite different than "10% of the money supply in the world is in the hands of common criminals".

You keep repeating this speculation as if it were true, merely b/c it is possible.  Yes, it is possible that 10% of bitcoins are in the hands of criminals.  However, under the scenario that you paint, it is highly unlikely.  Why would criminals want to hoard bitcoins?  They may clean them first before hoarding them, but likely they would cash out of some of them, if it were true that "criminals" were holding 10% of bitcoins. 

Also, you are NOT even clear with your definition, exactly, what is a criminal.  I am gathering that you are defining a criminal as someone who has taken someone else's bitcoin.

If it is a small group of people, then is their plot to hold bitcoin in order to sabotage bitcoin in one way or another.  I doubt it.  Usually, thieves are NOT that ideological nor that sophisticated.  Usually, thieves are inclined to steal in order to reap the benefits of the theft (and accordingly to cash out).  Since dollars are more liquid than bitcoins, it is likely that a lot of these 10%, if they were to exist, are in dollars, and NOT in bitcoins... .. so, therefore, your theory about 10% of bitcoins being in the hands of thieves is NOT only highly unlikely but also highly implausible in terms of its speculative value.

[JorgeStolfi]

Er, wasn't this thread created specifically to hold those hourly Chartbuddy plots?

If they look all the same, it is because nothing significant is happening on Bitstamp's order book.

If they are posted one after the other, it is because nothing significant is happening in this thread, either. 

[lyth0s]

I think bitcoin may drop to $566 before trending back up. Lyth0s March through July 2014 bitcoin prediction here.

[niothor]

Who thinks the situation in Ukraine will spark something in the bitcoin price?

I'm almost willing to bet nothing will happen to the BTC price, sanctions or not.

[JorgeStolfi]

Personally, I think the most likely explanation is that the coins were stolen many years ago and sold off explaining the bitcoin bear market of 2011. [ ... ] [https://bitcointalk.org/index.php?topic=497289.0].

Perhaps, but check this reply to that post:
https://bitcointalk.org/index.php?topic=497289.msg5474846#msg5474846

EDIT: But there is a counter-reply:
https://bitcointalk.org/index.php?topic=497289.msg5474989#msg5474989

[billyjoeallen]

Who thinks the situation in Ukraine will spark something in the bitcoin price?

To date, none of the so-called "pariah" states have utilized Bitcoin to evade sanctions to any significant degree. I don't know why. Russia may be different, but judging by the statement of its central bank, I think it unlikely. My guess is that bitcoin will trail gold price increases for a while before surpassing them.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[seleme]

Much exciting, so action

[surfer43]

Much exciting, so action

market says.. "I don't know what to do!!!  "