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

[Mervyn_Pumpkinhead]

https://www.youtube.com/watch?v=quUTJXPH55Y

[adamstgBit]

Prediction, in 3 years all the wealth in the world will belong to the Chinese bitcoin miners government .  

ftfy

pretty sure china is banning bitcoin so it can buy/ mine it b4 everyone  else

china is known for this lie cheat and steal tactics  

[Miz4r]

I'm confused. On one hand the bulls argue for bitcoin to be this free renegade anarchist currency. Then on the other hand, the same bulls are all about getting wall street involved, government invovled, regulations, oversight, aml/kyc, and paper-traded etfs. etc. I guess whatever concept provokes the most price increase in the context of the topic at hand is the right one to use for them.

It's not that easy, first of all I don't believe all the bulls agree with both of your assumptions here. Some don't want all those parties involved, some others see it as a temporary necessary evil to launch Bitcoin into the mainstream and they hope that once Bitcoin establishes itself it will revolutionize governments, banks and the entire financial world in such a way that most of the problems we have with Wall Street, banks and governments will simply disappear and it no longer will be an issue. And there are also other bulls who aren't idealistic at all and just want those parties involved to get the price up. Personally I belong to the second group, for now I think it's a necessary evil to work with these parties if we ever want Bitcoin to become something more than a niche thing.

[chessnut]

There's a good chance that once bitcoin is integrated with wallstreet, 'investing' in bitcoin is going to molded to fit in with every state law and inefficiency in with the existing system that bitcoin was created to avoid. I'd be suprised if the network itself was even used for anything useful at that point. Bitcoiners are sellouts.

I'm sad to say that bitcoin won't probably ever reach Wall Street. You can't sell an currency to someone, when half of it has been released during times, where it was used only for drug trade and various other illegal shenanigans. When a person has even a half a brain, then (s)he won't invest a meaningful amount into something, where (s)he has to have blind trust that some successful drug dealer just won't dump their 1mil.+ coins and run away with the money.
The idea of private open-sourced monetary systems will remain, and it will bring forward plenty of interesting opportunities. But bitcoin is a joke and a gimmick, just like the "financial experts" that hover around bitcoin.

and the USD is not used predominantly by criminals? lol, it is printed by criminals!
You realise that open sourced monetary systems have promise, and bitcoin is just that, but it is doomed to fail? what will succeed, ripple? lol. the cat is out of the bag and no parallel crypto can compete with bitcoin, and no centralised alternative can either.

[Mervyn_Pumpkinhead]

There's a good chance that once bitcoin is integrated with wallstreet, 'investing' in bitcoin is going to molded to fit in with every state law and inefficiency in with the existing system that bitcoin was created to avoid. I'd be suprised if the network itself was even used for anything useful at that point. Bitcoiners are sellouts.

I'm sad to say that bitcoin won't probably ever reach Wall Street. You can't sell an currency to someone, when half of it has been released during times, where it was used only for drug trade and various other illegal shenanigans. When a person has even a half a brain, then (s)he won't invest a meaningful amount into something, where (s)he has to have blind trust that some successful drug dealer just won't dump their 1mil.+ coins and run away with the money.
The idea of private open-sourced monetary systems will remain, and it will bring forward plenty of interesting opportunities. But bitcoin is a joke and a gimmick, just like the "financial experts" that hover around bitcoin.

and the USD is not used predominantly by criminals? lol, it is printed by criminals!
You realise that open sourced monetary systems have promise, and bitcoin is just that, but it is doomed to fail? what will succeed, ripple? lol. the cat is out of the bag and no parallel crypto can compete with bitcoin, and no centralised alternative can either.

There are educated criminals, that understand the longer perspective of profit, and there are folks like silkroad drug dealers or bitcointalk users
Anyway, you go ahead and enjoy your bitcoins. I believe that everyone will get what (s)he deserves.

[bitcoinsrus]

text

text

text

Hey, cut the bears some slack
They are suffering greatly now when the bulls taken over

[vipgelsi]

Bitcoin looking strong we need to get pass 500!

[TERA]

Right, it's all over because of the countertrend rally on huobi, again. I guess the Chinese bulls have taken over, and will lead us out of the Chinese bear market, or something. The price being pushed up by China when all of the Chinese bank accounts are closing doesn't bother everyone, in the least. Surely this will continue once the accounts are closed and surely these coins are not going to be dumped on USD exchanges.

[Davyd05]

Right, it's all over because of the countertrend rally on huobi, again. I guess the Chinese bulls have taken over, and will lead us out of the Chinese bear market, or something,

It's okay Tera, we know you can't believe in a world with China still trading bitcoin.

[adamstgBit]

Bitcoin looking strong we need to get pass 500!

its not gana be easy but this is the plan.

i recommend selling/buying should we break away from the channel, while in the channel HODL!!!

[JorgeStolfi]

So is this the new Huobi with fees?

I can't see any new news about that on Huobi's homepage.  The "red lamp" link (notice 357, 2014-05-06 13:38:51 CST) still shows the "five exchanges agreement" and the attachment to that (notice 356, 2014-05-06 13:35:07 CST) still says "HFT fees to be determined".

According to the latter, however, they discontinued leverage at 00:00 May/10.

That is what I decyphered with Google Translate.

[ChartBuddy]

Explanation

[Walsoraj]

Does anyone really expect chinese exchanges to adhere to their joint statement?

[aminorex]

There's a good chance that once bitcoin is integrated with wallstreet, 'investing' in bitcoin is going to molded to fit in with every state law and inefficiency in with the existing system that bitcoin was created to avoid. I'd be suprised if the network itself was even used for anything useful at that point. Bitcoiners are sellouts. Everything is about raising the price and to-da-moon and deep down they just care about fiat.

The success of bitcoin as an investment is inextricably bound up with its addition of social value as a political instrument.  

Personally I think bitcoin has turned into social and political poison, but will be no less successful as an investment for all that.  There will be some good that comes of it -- after all, *some* people *should* drink poison -- but most of that burden will fall upon a successor which is actually and persistently decentralized and anonymous.

And again, when that successor arises, its success in fulfilling those hopes will be inextricably bound up with its success as an investment.

If a job opens up reading the inscription over the gates of hell to any blind persons being admitted, I will certainly recommend TERA to the position.

[TERA]

I can imagine right now PBOC is being infuriated by the rally and are devising some kind of emergency strategy to actually get the accounts closed as we speak.

[shmadz]

Does anyone really expect chinese exchanges to adhere to their joint statement?

in that they refuse to go to bitcoin-promoting conference? In that they cease and desist any kind of overt bitcoin promotion?

yes.

[shmadz]

There's a good chance that once bitcoin is integrated with wallstreet, 'investing' in bitcoin is going to molded to fit in with every state law and inefficiency in with the existing system that bitcoin was created to avoid. I'd be suprised if the network itself was even used for anything useful at that point. Bitcoiners are sellouts. Everything is about raising the price and to-da-moon and deep down they just care about fiat.

The success of bitcoin as an investment is inextricably bound up with its addition of social value as a political instrument.  

Personally I think bitcoin has turned into social and political poison, but will be no less successful as an investment for all that.  There will be some good that comes of it -- after all, *some* people *should* drink poison -- but most of that burden will fall upon a successor which is actually and persistently decentralized and anonymous.

And again, when that successor arises, its success in fulfilling those hopes will be inextricably bound up with its success as an investment.

If a job opens up reading the inscription over the gates of hell to any blind persons being admitted, I will certainly recommend TERA to the position.

hello animorex, so glad you dropped by,

a question/observation if I may.

bitcoin architecture is - from the ground up - not so good for anonymous, but great for transparency. I can foresee a future where a decentralized, distributed, public record of public funds would have some demand and therefore some value in this world.

your comments or ideas on that thought are much appreciated...

[chessnut]

I can imagine right now PBOC is being infuriated by the rally and are devising some kind of emergency strategy to actually get the accounts closed as we speak.

why? they dont care about rallies. they only have to take responsibility for money lost under legal systems, not illegal. that's why they stopped bank deposits.

[aminorex]

I can foresee a future where a decentralized, distributed, public record of public funds would have some demand and therefore some value in this world.

If you don't want public funds embezzled, require that all government spending be on-chain.  Anyone who actually wants democratic accountability should be all over that.  If your political opponent objects, well then, prima facie, he is corrupt.

If you want elected officials to be accountable for the source of their financial support, require that political donations be on-chain.

If you want assurance that taxes are paid, require that all taxable transactions occur on-chain, and all tax payments be made on-chain.

The Department of Defense [sic] would not have been unable to account for those 2.3 trillion USD reported mislaid on 10 Sept 2001, if those transactions had been on-chain, and events which ensued as a consequence would not have derived.

[shmadz]

I can foresee a future where a decentralized, distributed, public record of public funds would have some demand and therefore some value in this world.

If you don't want public funds embezzled, require that all government spending be on-chain.  Anyone who actually wants democratic accountability should be all over that.  If your political opponent objects, well then, prima facie, he is corrupt.

If you want elected officials to be accountable for the source of their financial support, require that political donations be on-chain.

If you want assurance that taxes are paid, require that all taxable transactions occur on-chain, and all tax payments be made on-chain.

that is exactly what I want.

everyone should be pushing for this, demand this from your elected officials.

it's not excessive, it's morally right.