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

[aminorex]

Where do people get this retarded idea from that "Bitcoin is dead if it falls below price x".

Oh yeah, I know: from the same jumping-to-conclusions part of the brain that tells them "we never fell below the previous ATH, so it can't happen this time either"...

Because if people lose interest in something that already lost its value, you cant make it valuable again.
Like before fancy shells were "money". You could gather some shells on the beach, and then trade it  against bread, meat etc. But suddenly people did realise  that shells  have next to no value, so the lost interest to it.

Same will happen to BTC.

Much insight , such economics....

So Noble price winner!

[oda.krell]

I personally doubt that after  fall to 100-200$ bitcoin will rise again.
Just scare to think about all those people who newly  bought  all those gridseeds, dragons with  THs of power, thinking they will  get money back.
But now, difficulty is still rising, and value is falling. This hardware will never  ever get your money back.

Is htere any other  purpose for SHA256 ASICs? Can you hack protected files with it?

Where do people get this retarded idea from that "Bitcoin is dead if it falls below price x".

Oh yeah, I know: from the same jumping-to-conclusions part of the brain that tells them "we never fell below the previous ATH, so it can't happen this time either"...

1) Consensus is that bitcoin will increase in value by an order of magnitude every year, until the end of time.
2) (More seriously) I see this as a dotcom crash scenario. Yes, the crash in price will convince a lot of miners and other companies to rethink (i.e. exit and try something easier). But few serious businesses expect to make money in the first year. The ones that will survive and provide value will have thought of this and realised that this is a long-term (meaning longer than 3 months) game. The fall just cleans up the landscape faster than otherwise would have happened.

And I start thinking 2014 will be the year in which the market tests the resolve of those who hold that belief.

Agreed on the rest, btw.

[podyx]

Bears, u gotta try harder

don't worry, just getting started!

damn, must I wire more fiat again??

[hdbuck]

*snip

absolutely will not die, at least for another 2-3 years, but price range can be 10-50 usd, or much less

nahh scarcity + investments in businesses (ie. making it tangible, thus creating demand) is likely to sustain the price uptrend: 1 year ago, there was not even 10% of today's investments levels and popularity. we aint seeing sub 100 again imo. it's like people saying we could fall under 1$ when we reached 260$. desperate for not buying earlier if i may say

[aminorex]

Bears, u gotta try harder

don't worry, just getting started!

damn, must I wire more fiat again??

The more you burn, the brighter your future.

[Mervyn_Pumpkinhead]

Oh what now? China banned Bitcoin again? Or is it another random rumour?

Ignore everyone here who aren't yelling "trend reversal to the moon!" and guarantee that you will always be surprised when there are new drops
Some people here are good reminders of the fact, that handling wealth is not for everyone.

Are you talking to me? Why would i do that?
Of course i realize we can go down any minute. I'm just wondering why people have to keep on dumping. When is it enough. It just feels like these people won't stop dumping till we are at 0 and Bitcoin has become completely worthless. It's not untill then that they are happy it seems.

I'll quote my previous post, that will bring sense to the ongoing situation:

There are plenty of people out there who doesn't share the vision of bitcoins long-term success. There are people out there who see bitcoin as an temporal phenomenon, that will go back to single digits or less. They are not selling, so they could buy back cheaper. They are selling, so they could get out and use that money for other investments. Because in an investment perspective, bitcoin isn't very attractive at the moment. It's a high risk, low reward investment, and if you have no emotional attachment to bitcoin itself, then it's a calculated move to get out. If you have experience with investments, then you can see plenty of better investment opportunities then bitcoin can currently offer.

Those who currently want out are patient, because there are still fools who are feeding them. But there is the final point where the amount of fools have dropped and there isn't enough buys to even support these low volume rises. Then they will dump quicker, because they know that there are many others like them and the last ones will be the ones who lose. This slow downfall will have a grand finale that's unprecedented and it will cause an 1w volume record. Hard to tell the exact sum where the price will finally rest. Easier to tell that this hasn't happened yet.

[igorr]

*snip

absolutely will not die, at least for another 2-3 years, but price range can be 10-50 usd, or much less

nahh scarcity + investments in businesses (ie. making it tangible, thus creating demand) is likely to sustain the price uptrend: 1 year ago, there was not even 10% of today's investments levels and popularity. we aint seeing sub 100 again imo. it's like people saying we could fall under 1$ when we reached 260$. desperate for not buying earlier if i may say

If bistamp dies, then will be instantaneous death for bitcoin.

[chromosoma]

Crazy to think paper in your wallet can be worth anything, don't even have to go look for it, its printed...  The world is so wacky.

Yes,paper  money  are the sign of value, of work.
For example you work as engineer and design new car. You get paid. This is the reward for you work.
You  go to the supermarket and buy some bread.  The money you pay  serve as the reward for  farmers, driver, workers at the  market, tax etc.
The paper money DO have real value, so to say the real Proof of Work;)

In comparison  to BTC, which is some real random numbers. So everyone  can wank on sofa while mining  "money". That would contribute so much to our society....
Why work at some hard and dirty jon, if you can buy yourself a rig, and do nothing.

[lynn_402]

In comparison  to BTC, which is some real random numbers. So everyone  can wank on sofa while mining  "money". That would contribute so much to our society....

You do understand that mining is unprofitable right now, don't you?

[jonoiv]

Bears, u gotta try harder

don't worry, just getting started!

damn, must I wire more fiat again??

I don't think you;

A.  Have enough $

B.  Have enough time.  Next round of dumping starts within the next 30 mins.

[aminorex]

Vladimir Putin is a closet gay.

Why do you think so?

[igorr]

Shorting 

[podyx]

Crazy to think paper in your wallet can be worth anything, don't even have to go look for it, its printed...  The world is so wacky.

Yes,paper  money  are the sign of value, of work.
For example you work as engineer and design new car. You get paid. This is the reward for you work.
You  go to the supermarket and buy some bread.  The money you pay  serve as the reward for  farmers, driver, workers at the  market, tax etc.
The paper money DO have real value, so to say the real Proof of Work;)

In comparison  to BTC, which is some real random numbers. So everyone  can wank on sofa while mining  "money". That would contribute so much to our society....
Why work at some hard and dirty jon, if you can buy yourself a rig, and do nothing.

you are pretty fucking slow, aren't u?

teachers must of mumbled something about how special you were when you was little, am i right?

[p0peji]

Crazy to think paper in your wallet can be worth anything, don't even have to go look for it, its printed...  The world is so wacky.

Yes,paper  money  are the sign of value, of work.
For example you work as engineer and design new car. You get paid. This is the reward for you work.
You  go to the supermarket and buy some bread.  The money you pay  serve as the reward for  farmers, driver, workers at the  market, tax etc.
The paper money DO have real value, so to say the real Proof of Work;)

In comparison  to BTC, which is some real random numbers. So everyone  can wank on sofa while mining  "money". That would contribute so much to our society....
Why work at some hard and dirty jon, if you can buy yourself a rig, and do nothing.

you are pretty fucking slow, aren't u?

teachers must of mumbled something about how special you were when you was little, am i right?

You can say a lot, but his response is kind of funny.

[hdbuck]

*snip

absolutely will not die, at least for another 2-3 years, but price range can be 10-50 usd, or much less

nahh scarcity + investments in businesses (ie. making it tangible, thus creating demand) is likely to sustain the price uptrend: 1 year ago, there was not even 10% of today's investments levels and popularity. we aint seeing sub 100 again imo. it's like people saying we could fall under 1$ when we reached 260$. desperate for not buying earlier if i may say

If bistamp dies, then will be instantaneous death for bitcoin.

hehe i predict that stamp will eventually shut down. as well for any other exchange. its the cycle of life (or greed) in bitcoinworld.

[Walsoraj]

https://bitcoinfoundation.org/blog/?p=677

Gavin stepping down as lead dev... game over man, game over. Single digits by Friday.

[chromosoma]

In comparison  to BTC, which is some real random numbers. So everyone  can wank on sofa while mining  "money". That would contribute so much to our society....

You do understand that mining is unprofitable right now, don't you?

Yes mining bitcoins is not profitable right now, because the price is constantly going down.
Still you can mine any other  altcoin, and profit by speculation. You know, there are new altcoin everyday, if you hit the right one (like Aurora ,Maza ,Unobtanium etc in the past) you can make pretty high profit.

[jonoiv]

Crazy to think paper in your wallet can be worth anything, don't even have to go look for it, its printed...  The world is so wacky.

Yes,paper  money  are the sign of value, of work.
For example you work as engineer and design new car. You get paid. This is the reward for you work.
You  go to the supermarket and buy some bread.  The money you pay  serve as the reward for  farmers, driver, workers at the  market, tax etc.
The paper money DO have real value, so to say the real Proof of Work;)

In comparison  to BTC, which is some real random numbers. So everyone  can wank on sofa while mining  "money". That would contribute so much to our society....
Why work at some hard and dirty jon, if you can buy yourself a rig, and do nothing.

That's so true.

[aminorex]

https://bitcoinfoundation.org/blog/?p=677

Gavin stepping down as lead dev...

Will he take Luke Jr. with him?  Or is that too much to ask?

[oda.krell]

https://bitcoinfoundation.org/blog/?p=677

Gavin stepping down as lead dev... game over man, game over. Single digits by Friday.

He, almost had me for a second.

Thanks for the link, though. This is (long term) pretty good news: Gavin is vastly overqualified as a glorified coding monkey, so him taking a more 'abstract' stance on Bitcoin development is long overdue, imo.