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

[windjc]

Nice chart Krabby, I hadnt seen that one before.

this is my chart 

That has got to be the least bullish non-bearish chart in the history of charts. And the cherry on top are the really tiny green candles on declining volume at the end of it.

[windjc]

The forums and reddit are now chock full of nothing but bullish posts and bullish PRs.

Therefore, it is going down.

We will see 470 maybe 480 (on a final burst) before we get a nasty red candle.

It is almost time to short again. The holiday in China is screwing things up a bit. We might not get the catalyst for this red candle until Mon or Tues.

[JayJuanGee]

are you a basic bitch?

The video seems to incorporate quite a bit of libertarian phraseology in its defending and defining of bitcoin.

[thezerg]

It is interesting that even if 30,000 NEW adopters a DAY will emerge  then it is only 11,000,000 per YEAR ... ( and only 110 millions per 10 YEARS ... what is less than 2% of population )

You are looking at it the wrong way, addoption is exponential not linear. Once bitcoin appears more and more in the news and starts to go mainstream the rate of adoption will accelarate greatly.
As I am sure I dont need to remind you btc is still magic internet money that a few nerds are playing with.

That's a very good point.. .so we could be conservative and predict something like this (a doubling of the number of new wallets every year):

2033 - 256 billion new wallets

Yet, even a doubling of new users every year would be a tremendous amount of growth for bitcoin, if such were to happen.

Dude, seriously, 256 billion new wallets in 2033? That'd be like 25-30 wallets for each person on Earth. To even use the words "conservative" and "diminish" in this context...well I'd love to see what your not so conservative numbers are.

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

[JorgeStolfi]

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

Your wallet app automatically creates 100'000 new wallets every time you use it, to inflate the app's usage statistics. 

[xulescu]

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

Your wallet app automatically creates 100'000 new wallets every time you use it, to inflate the app's usage statistics. 

This comment is retarded. If companies are considered economic entities on their own, independent of the humans who run them, why wouldn't your fridge be an economic entity on its own, independent of the humans it runs for? Why wouldn't people's t-shirts make them money by displaying ads? Each t-shirt would likely have its own wallet. Bitcoin injects steroids into ubiquitous computing.

[JorgeStolfi]

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

Your wallet app automatically creates 100'000 new wallets every time you use it, to inflate the app's usage statistics. 

This comment is retarded. If companies are considered economic entities on their own, independent of the humans who run them, why wouldn't your fridge be an economic entity on its own, independent of the humans it runs for? Why wouldn't people's t-shirts make them money by displaying ads? Each t-shirt would likely have its own wallet. Bitcoin injects steroids into ubiquitous computing.

Your comment is advanced. I was merely pointing out a small logical gap between "number of wallets" and "actual usage".

[octaft]

It is interesting that even if 30,000 NEW adopters a DAY will emerge  then it is only 11,000,000 per YEAR ... ( and only 110 millions per 10 YEARS ... what is less than 2% of population )

You are looking at it the wrong way, addoption is exponential not linear. Once bitcoin appears more and more in the news and starts to go mainstream the rate of adoption will accelarate greatly.
As I am sure I dont need to remind you btc is still magic internet money that a few nerds are playing with.

That's a very good point.. .so we could be conservative and predict something like this (a doubling of the number of new wallets every year):

2033 - 256 billion new wallets

Yet, even a doubling of new users every year would be a tremendous amount of growth for bitcoin, if such were to happen.

Dude, seriously, 256 billion new wallets in 2033? That'd be like 25-30 wallets for each person on Earth. To even use the words "conservative" and "diminish" in this context...well I'd love to see what your not so conservative numbers are.

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

Considering this is the absolute wet dream of any bitcoin holder, in what way is it conservative again? Not to mention that, considering not everyone in the entire world will be using bitcoin, it assumes probably closer to 100 wallets per person. How many people do you know with 90 appliances, let alone 90 appliances that could make use of this technology? Maybe your toaster will be reordering bread?

[JayJuanGee]

2033 - 256 billion new wallets

Does that mean that in 2033 every bitcoin user will own 2.56 billion wallets? Why would he need that? 


 

It could mean that or it could mean that a population of between 5-10 billion people would have 25-50 wallets per person.  As we already know, wallets could be created by organizations or governments or even be attributed to entities that may NOT yet exist (such as a trust that would describe how the bitcoins in the wallet would be distributed upon the triggering of some future event(s)).  Personally, as I stated in my previous post, i believe the market would become saturated much before 2033, which would cause considerable slowing down of the growth rate or would cause the model or the growth curve to shift.

[JayJuanGee]

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

Your wallet app automatically creates 100'000 new wallets every time you use it, to inflate the app's usage statistics. 

This comment is retarded. If companies are considered economic entities on their own, independent of the humans who run them, why wouldn't your fridge be an economic entity on its own, independent of the humans it runs for? Why wouldn't people's t-shirts make them money by displaying ads? Each t-shirt would likely have its own wallet. Bitcoin injects steroids into ubiquitous computing.

Some of the ideas and the responses, here are retarded; however, the overall concept that there may be multiple ways to create wallets that may be tied to people, organizations, governments or trusts is NOT retarded and within our current possibilities to conceptualize.

[JayJuanGee]

It is interesting that even if 30,000 NEW adopters a DAY will emerge  then it is only 11,000,000 per YEAR ... ( and only 110 millions per 10 YEARS ... what is less than 2% of population )

You are looking at it the wrong way, addoption is exponential not linear. Once bitcoin appears more and more in the news and starts to go mainstream the rate of adoption will accelarate greatly.
As I am sure I dont need to remind you btc is still magic internet money that a few nerds are playing with.

That's a very good point.. .so we could be conservative and predict something like this (a doubling of the number of new wallets every year):

2033 - 256 billion new wallets

Yet, even a doubling of new users every year would be a tremendous amount of growth for bitcoin, if such were to happen.

Dude, seriously, 256 billion new wallets in 2033? That'd be like 25-30 wallets for each person on Earth. To even use the words "conservative" and "diminish" in this context...well I'd love to see what your not so conservative numbers are.

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

Considering this is the absolute wet dream of any bitcoin holder, in what way is it conservative again? Not to mention that, considering not everyone in the entire world will be using bitcoin, it assumes probably closer to 100 wallets per person. How many people do you know with 90 appliances, let alone 90 appliances that could make use of this technology? Maybe your toaster will be reordering bread?

Dude... eh hehehhehehe          Did you see that I already responded to your question about what I meant by conservative>>>>>>>> in the above post>>>>>> https://bitcointalk.org/index.php?topic=178336.msg6502505#msg6502505 

[octaft]

It is interesting that even if 30,000 NEW adopters a DAY will emerge  then it is only 11,000,000 per YEAR ... ( and only 110 millions per 10 YEARS ... what is less than 2% of population )

You are looking at it the wrong way, addoption is exponential not linear. Once bitcoin appears more and more in the news and starts to go mainstream the rate of adoption will accelarate greatly.
As I am sure I dont need to remind you btc is still magic internet money that a few nerds are playing with.

That's a very good point.. .so we could be conservative and predict something like this (a doubling of the number of new wallets every year):

2033 - 256 billion new wallets

Yet, even a doubling of new users every year would be a tremendous amount of growth for bitcoin, if such were to happen.

Dude, seriously, 256 billion new wallets in 2033? That'd be like 25-30 wallets for each person on Earth. To even use the words "conservative" and "diminish" in this context...well I'd love to see what your not so conservative numbers are.

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

Considering this is the absolute wet dream of any bitcoin holder, in what way is it conservative again? Not to mention that, considering not everyone in the entire world will be using bitcoin, it assumes probably closer to 100 wallets per person. How many people do you know with 90 appliances, let alone 90 appliances that could make use of this technology? Maybe your toaster will be reordering bread?

Dude... eh hehehhehehe          Did you see that I already responded to your question about what I meant by conservative>>>>>>>> in the above post>>>>>> https://bitcointalk.org/index.php?topic=178336.msg6502505#msg6502505 

No I didn't, but I think the most important consideration here is will your toaster reorder bread? And no wheat! No way I'm spending my hard-earned appliance-bitcoins out of any one of my 300 wallets on that bullshit!

[akujin]

We're almost there 

[hyphymikey]

at first I bought bitcoin to make me rich, I guess I am a basic bitch.

[JorgeStolfi]

It is 11:00 am in China, and hourly trade volume is still like that of 05:00 am of normal days. 

Presumably the robots who are responsible for Huobi's  fake volume are still in bed, cooking their hangover from the party last night, and will resume their work in a couple of hours.  Otherwise today may be another record low in daily volume, comparable to the Chinese New Year.

[ChartBuddy]

Explanation

[JayJuanGee]

It is interesting that even if 30,000 NEW adopters a DAY will emerge  then it is only 11,000,000 per YEAR ... ( and only 110 millions per 10 YEARS ... what is less than 2% of population )

You are looking at it the wrong way, addoption is exponential not linear. Once bitcoin appears more and more in the news and starts to go mainstream the rate of adoption will accelarate greatly.
As I am sure I dont need to remind you btc is still magic internet money that a few nerds are playing with.

That's a very good point.. .so we could be conservative and predict something like this (a doubling of the number of new wallets every year):

2033 - 256 billion new wallets

Yet, even a doubling of new users every year would be a tremendous amount of growth for bitcoin, if such were to happen.

Dude, seriously, 256 billion new wallets in 2033? That'd be like 25-30 wallets for each person on Earth. To even use the words "conservative" and "diminish" in this context...well I'd love to see what your not so conservative numbers are.

Your semi-autonomous personal information devices each hold some of your coins and use them for stuff like micro-payments to news sites, the purchase of music.  Your fridge automatically reorders the foods you've eaten each month.

Considering this is the absolute wet dream of any bitcoin holder, in what way is it conservative again? Not to mention that, considering not everyone in the entire world will be using bitcoin, it assumes probably closer to 100 wallets per person. How many people do you know with 90 appliances, let alone 90 appliances that could make use of this technology? Maybe your toaster will be reordering bread?

Dude... eh hehehhehehe          Did you see that I already responded to your question about what I meant by conservative>>>>>>>> in the above post>>>>>> https://bitcointalk.org/index.php?topic=178336.msg6502505#msg6502505 

No I didn't, but I think the most important consideration here is will your toaster reorder bread? And no wheat! No way I'm spending my hard-earned appliance-bitcoins out of any one of my 300 wallets on that bullshit!

Now, it sounds as if you are arguing merely for the sake of arguing.. b/c you are getting into the weeds about some side tangent comment that was made.  NONE OF US really know any specifics about various future applications and whether they would be feasible or even be developed in whatever bitcoin eco-system that were to evolve - if one even evolves.   So, there are some examples about how there could continue to be bitcion wallets developing beyond the number of people in the world, and even 256 billion would be 25-50 wallets per person (which certainly seems like too much to me, as well, but it is NOT 300 wallets per person alive)..

[JayJuanGee]

at first I bought bitcoin to make me rich, I guess I am a basic bitch.

If you bought your BTC below $100, you may be a rich bitch. 

If you bought your BTC over $1000, then you may merely be a bitchy bitch.

[sonofliberty]

Obligatory dump incoming!

[Bitcoin_is_here_to_stay]

Obligatory dump incoming!

Indeed. Sudden big dump on BTCe, price down to $428 atm