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

[jl2012]

a gaming company just bought 40k BTC.... there's your fresh fiat.

I say once again this "news" is typical Chinese bullshit

[Cassius]

pure example of why control and centralisation is useless and can be avoided with minimum harm:



http://www.tuxboard.com/photos/2014/04/pas-besoin-de-rond-point.gif

Blind luck? You can't really call a roundabout centralisation.
Not the best example of subsidiarity since I'm guessing quite a few people have ended up in hospital on that road. Just not in the ~20 frames of that gif.

hmm i dont know, i mean, sure there must have been people ending up in hospital, but i dont think it outnumbered the people ending up in hospital in countries with road signals..
The point being adaptation. but yeah, im no expert, just trying to provide you folks with some cool illustrations

Ok, it's a cool illustration.
Jeremy Clarkson suggests that if you fit every car's steering wheel with a spike, you will make the roads a lot safer overall because drivers will suddenly start caring a lot more about whether they're about to have an impact or not. So be careful - you might just end up making a point about personal responsibility by accident.

[derpinheimer]

pure example of why control and centralisation is useless and can be avoided with minimum harm:



http://www.tuxboard.com/photos/2014/04/pas-besoin-de-rond-point.gif

Blind luck? You can't really call a roundabout centralisation.
Not the best example of subsidiarity since I'm guessing quite a few people have ended up in hospital on that road. Just not in the ~20 frames of that gif.

hmm i dont know, i mean, sure there must have been people ending up in hospital, but i dont think it outnumbered the people ending up in hospital in countries with road signals..
The point being adaptation. but yeah, im no expert, just trying to provide you folks with some illustrations and awesome gif

Actually <10 seconds on google reveals India to be one of the worst places for traffic accidents in the world.

Yup,and that gif is at ~500% speed. Terrible intersection, unsafe and slow versus controlled intersection.

[Adrian-x]

pure example of why control and centralisation is useless and can be avoided with minimum harm:



http://www.tuxboard.com/photos/2014/04/pas-besoin-de-rond-point.gif

wtf is this for real somewhere?

You have not been to China, traffic flows like red blood cells through your vanes. It is scarcely for someone like me. Kind of how banks feel about Bitcoin. You need regulation.

[dreamspark]

6500 pages, bullish?

Reckon we'll get page to $/BTC parity ever!?

[wachtwoord]

6500 pages, bullishit?

^^That's more like it

[ChartBuddy]

Explanation

[BlackFlag]

6500 pages, bullishit?

^^That's more like it

+1

[GreekGeek]

any one seen this

https://coinreport.net/fincen-money-transmitters-bitcoin/

http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf

[Cassius]

any one seen this

https://coinreport.net/fincen-money-transmitters-bitcoin/

http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf

Yup.
In the current climate, I'd say that falls more into the category of 'not bad news' rather than 'good news'.

[boumalo]

6500 pages, bullishit?

^^That's more like it

+1

There are a dozen of traders that read them all and a lot of robots

[Adrian-x]

any one seen this

https://coinreport.net/fincen-money-transmitters-bitcoin/

http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf

Yup.
In the current climate, I'd say that falls more into the category of 'not bad news' rather than 'good news'.

It is good news for bitcoin bad news for the price of bitcoin. in that dirty money rents a miner, mines clean bitcoins, sells clean bitcoins for clean cash.

the net result will be selling pressure on bitcoin, but a growing network. so cheep coins

[lemonte]

any one seen this

https://coinreport.net/fincen-money-transmitters-bitcoin/

http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf

Yup.
In the current climate, I'd say that falls more into the category of 'not bad news' rather than 'good news'.

It is good news for bitcoin bad news for the price of bitcoin. in that dirty money rents a miner, mines clean bitcoins, sells clean bitcoins for clean cash.

the net result will be selling pressure on bitcoin, but a growing network. so cheep coins

Anyone renting a miner is not going to be able to sell a large amount of coins. 3THS only gets you about 0.19BTC a day with this difficulty.

[xulescu]

pure example of why control and centralisation is useless and can be avoided with minimum harm:



http://www.tuxboard.com/photos/2014/04/pas-besoin-de-rond-point.gif

http://www.spiegel.de/international/spiegel/controlled-chaos-european-cities-do-away-with-traffic-signs-a-448747.html

Everyone who bashed this GIF with no second thought or research proved they are completely clueless in life.

Removing all traffic laws and signs (except a few like 50 km/h speed limit in towns) made traffic more fluent, safer and faster on average.
The Autobahns have significantly fewer accidents NORMALIZED for traffic volume than many other highways.
This movement will most likely become more widespread.

It goes with the Clarkson quote with spikes in the steering wheel and a few other ideas from behavioural economics:
1. People ignore >70% of traffic signs, and much more in the US where the sign spam is completely out of control.
2. People read recommendations as mandatory
    a. Lacking speed limits, most people drive at their comfort speed. Speed LIMITS are by definition above the comfort zone of most people; otherwise they are inefficiently low. With speed limits, people drive at speed limits or above (usually) even if that is no longer comfortable for them (i.e. how tired they are).
    b. When banks recommend a MAXIMUM of ~34% monthly income to go to house mortgage, the vast majority of people take that as default and end up over-extending.

In short, if you take the signs away, people drive more carefully and organically, minding their surroundings. This is completely foreign to US drivers due to feelings of entitlement and "being in the right" no matter what the local traffic conditions are. That's also one of the main causes for how many accidents there are on the US highways (mostly, in merging and lane changing).

In my home city, in my mostly lawless-driving EU country, people routinely drive at 100+ km/h during the night in cities, even if the speed limit is the classic 50. Almost all accidents happen when drivers were DUI, racing or irresponsible local-mafia brats.

Y'all really need to get your head out of the "we need to control you or you would kill eachother" arsehole. I though "antifragile" was trending?

[seldon]

6500 pages, bullish?

Bubble, this thread will be back to double digits soon.

[p0peji]

6500 pages, bullish?

Bubble, this thread will be back to double digits soon.

Upcoming news that China will ban this thread?

Edit:
I mean not ban, but will deem it illegal to post here.

[octaft]

pure example of why control and centralisation is useless and can be avoided with minimum harm:



http://www.tuxboard.com/photos/2014/04/pas-besoin-de-rond-point.gif

http://www.spiegel.de/international/spiegel/controlled-chaos-european-cities-do-away-with-traffic-signs-a-448747.html

Everyone who bashed this GIF with no second thought or research proved they are completely clueless in life.

Removing all traffic laws and signs (except a few like 50 km/h speed limit in towns) made traffic more fluent, safer and faster on average.
The Autobahns have significantly fewer accidents NORMALIZED for traffic volume than many other highways.
This movement will most likely become more widespread.

It goes with the Clarkson quote with spikes in the steering wheel and a few other ideas from behavioural economics:
1. People ignore >70% of traffic signs, and much more in the US where the sign spam is completely out of control.
2. People read recommendations as mandatory
    a. Lacking speed limits, most people drive at their comfort speed. Speed LIMITS are by definition above the comfort zone of most people; otherwise they are inefficiently low. With speed limits, people drive at speed limits or above (usually) even if that is no longer comfortable for them (i.e. how tired they are).
    b. When banks recommend a MAXIMUM of ~34% monthly income to go to house mortgage, the vast majority of people take that as default and end up over-extending.

In short, if you take the signs away, people drive more carefully and organically, minding their surroundings. This is completely foreign to US drivers due to feelings of entitlement and "being in the right" no matter what the local traffic conditions are. That's also one of the main causes for how many accidents there are on the US highways (mostly, in merging and lane changing).

In my home city, in my mostly lawless-driving EU country, people routinely drive at 100+ km/h during the night in cities, even if the speed limit is the classic 50. Almost all accidents happen when drivers were DUI, racing or irresponsible local-mafia brats.

Y'all really need to get your head out of the "we need to control you or you would kill eachother" arsehole. I though "antifragile" was trending?

The population of most of the places they mention are like 10k or less people. The place where the "utopia" has become a "reality" has a population of about 1000 people, and that's according to the article itself.

[Adrian-x]

The impending (and almost certain) closure of the bank withdrawal channels of Chinese exchanges will inevitably lead to transfer of some of the coins that are now in their client accounts to the Western exchanges.  More coins, no new dollars, can only cause the price in the West to go down. The only question is by how much.

How exactly that will play out seems still uncertain.  The Chinese exchanges have been remarkably silent after the last PBoC move, in contrast to the weeks after the late March Caixin leak.  One of them at least has said that it will avoid public announcements because it does not want to cause commotion in the market.

I wonder how far they will take this new "PR policy":

  1. The Chinese exchanges may give their clients advance warning of the bank withdrawal closure, or the closure will happen only on the May 10 deadline.  In that case I expect that there will be a rush by most Chinese clients to sell their bitcoin (which they cannot use for commerce in China, and probably do not believe it ever go to the moon) and withdraw the CNY while they can.  Other clients who have some connection to the West may choose to move their bitcoin to Western exchanges and continue trading there.  Abitragers, habitual or improvised, will use any CNY still in their accounts to buy cheap coins there and sell them in the West.  Then the price will drop in the Chinese exchanges, and the Western ones will follow.

  2. The Chinese exchanges will close CNY bank withdrawals before May 10, without advance warning.   Then many clients with CNY trapped in their accounts will try to buy bitcoin to move them out.  The price of bitcoin in China will probably rise sharply.  Arbitragers, insiders, and other clients who have other ways of withdrawing CNY will make handsome profits at the expense of ordinary clients.  Arbitrage may temporarily transfer some of that price increase to the West, but that will be counteracted by the pressure of other clients moving bitcoin to the West, even at a loss, to get their money out.  Since in the end the net amount of bitcoin in the Chinese exchanges must decrease, the latter effect must predominate, so the price in the West will decouple and fall while it rises in China.

  3. The Chinese exchanges may just shut down without any prior warning, or block bitcoin widthdrawals as well; so that both the CNY and bitcons of their clients will be trapped inside, except perhaps for some privileged users or some restricted non-bank channels.  This option seems very unlikely, considering what happened to the owners of the GBL exchange.

In any case, I imagine that some Chinese traders who keep most of their bitcoins in private wallets, outside the exchange, may want to sell them, since the withdrawal restrictions may take all the fun & profit out of the bitcoin speculation game.  Therfore some of those coins will also find their way to the Western exchanges.

Ace Bear Troll, in terms of OldGeek Levels of thinking

1) On the surface he is a level 1 bear.
2) Posts analysts and FUD from a level 2 Bear perspective.
3) Acts like a level 3 bear, but occasionally joins in level 1 bitcoin proponent and bull bashing, (calls time out when Jorge bashing becomes insulting when using level 1 strategy.)

The above quote is a level 3 play, he is appealing to the rational risk taking in of the average trader, but in fact is planting a the seeds of greed, sell now to buy more later. Sell now so there is little support when the Chinese markets lose fiat liquidity, functionally he is testing bitcoin resilience, in reality we will only find out later if Jorge is a septic or a cynic.  

[Adrian-x]

any one seen this

https://coinreport.net/fincen-money-transmitters-bitcoin/

http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R007.pdf

Yup.
In the current climate, I'd say that falls more into the category of 'not bad news' rather than 'good news'.

It is good news for bitcoin bad news for the price of bitcoin. in that dirty money rents a miner, mines clean bitcoins, sells clean bitcoins for clean cash.

the net result will be selling pressure on bitcoin, but a growing network. so cheep coins

Anyone renting a miner is not going to be able to sell a large amount of coins. 3THS only gets you about 0.19BTC a day with this difficulty.

this is positive, so greed keeping bad actors out.

[ChartBuddy]

Explanation