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

[ChartBuddy]

Explanation

[TERA]

this is a public service announcement

[windjc]

^^^^^ That looks very bullish to me.

[windjc]

Good lord. Its a ghost town in here. (jumps to the right to avoid tumbleweed).

I guess with the lack of train, moon and sad bear pictures, post volume really dries up.

[Davyd05]

Mothers Day destroyed all the basement dwellers

[ErisDiscordia]

That SEC article was warning about people who promote investments as being a gauranteed high return and risk free.  Well bitcoin bulls go even one step further than this, to tell you that holding cash itself is risky.

Cash is not risky. You are guaranteed to lose, and the guarantee is backed by the full coercive force of the largest government the world has ever seen.

Not even gold is a guaranteed winner every year, because it is only backed by free market.

Let me reprhrase this then... Bitcoin bulls go one step further to tell you not only is Bitcoin risk-free but that if you aren't holding bitcoins, you are taking a risk because holding fiat is risky and bitcoin is clearly the way out of that risk. So bitcoin is not only risk free, but acts as an inverse risk. It is the infallible investment made in heaven and you you need to buy buy buy or die. They are not only going to quell your fears about holding bitcoin but make you fear NOT holding bitcoin. Because bitcoin is the solution for the apocalypse and when the system fails, bitcoiners will become filthy rich. It is the DESTINY. Bitcoin is like a rapture and you need to be on board or be left to perish.

Lately I've been seeing so much more complaining about the "bitcoin cultists" than actual cultists. Are you sure they actually exist? Where are those guys?

I would like to coin a new term: Bitcoin cultist cultists (aka. BCC) - seeing raving bitcoin cultists everywhere and being convinced they will destroy everything with their unbridled optimism and faith  

[Cassius]

"My religion is right and yours is wrong" is the leading cause of war and hate in the world.

Nonsense.

Quite.

Your debating skills are impeccable.

People of different religions coexist quite happily in many circumstances - usually when there is a degree of prosperity.

I'm surprised you bothered to type that weak statement. It's a half truth and doesn't address my point. I could just as easily say the opposite and be as impotently and vaguely semi-factual as you.

I said war and hate. War and hate. Just because 2 religions coexist doesn't mean they can't, one or both, pump out hatred and call it love. Like hating not only other religions but hating other DENOMINATIONS in the same fucking religion. Like fomenting hate for women, gays, blacks, (name your flavour). Like supporting human slavery. Like ordering the death of people who say naughty things or don't follow arbitrary rules. You know, hate.

Religion is just a convenient peg to hang discontent on when there is deprivation. This is why any credible peacebuilding strategy must include economic regeneration and equality (Northern Ireland, South Africa, Israel/Palestine...). Saying that religion is the cause itself is akin to saying skin colour is the cause of war and hate.

Or, religion does cause war and hate but it simply looks like a convenient peg to you. Your strawman efforts with regard to skin colour is ineffective and amateurish. I never said religion was "the" cause, and skin color *is* a cause for hate and war, like it or not.

Here's a recent war over skin color:
http://www.theguardian.com/commentisfree/2012/jul/06/mali-war-over-skin-colour

Religion is listed as 1st example of irrational causes of war:
"The Reasons for Wars – an Updated Survey"; 2009
Matthew O. Jackson: Department of Economics, Stanford University, Stanford,
California
www.stanford.edu/~jacksonm/war-overview.pdf

Religion was the cause for these wars:
http://en.wikipedia.org/wiki/Religious_war

If it tickles your fancy, argue with me that religion isn't the 2nd biggest cause for war and hate beyond resources, as I stated, but trying to argue religion isn't a cause of war and hate only makes you look uneducated. Your deprivation argument doesn't hold up either so you may want to abandon it before I bring up the Holy Roman Empire or perhaps George Bush's Crusade. Oops...

I'm sorry, but your thinking isn't just woolly, it's dangerously lazy.
Jorge has made a few points about this (I'm in the awkward position of agreeing with him about something).
But quoting a Guardian article to support your case - when the article itself acknowledges the real problem is unfair distribution of resources and oppression?
That just makes you look bad.

[windjc]

Anybody notice that its now Monday in China and the exchange volume is drying up?

I think this is what the future looks like folks.

[BitAddict]

Anybody notice that its now Monday in China and the exchange volume is drying up?

I think this is what the future looks like folks.

Of course, people are cashing out from Chinese exchanges

It will dry more after margin trade is officially halted.

I'm bitcoin bullish for mid/long term, but I don't see how more money is going to flow to bitcoin until we have more reliable exchanges all over the world.
International transfers are scary and slow for newbies. And they don't want to be goxxed.

We need at least the first US bitcoin exchange until moving to the next step.

[Erdogan]

We hold these truths to be self-evident, that not all money systems are created equal, and that bitcoin will rise forcefully from it current level which is below the bottom.

[windjc]

Anybody notice that its now Monday in China and the exchange volume is drying up?

I think this is what the future looks like folks.

Of course, people are cashing out from Chinese exchanges

It will dry more after margin trade is officially halted.

Probably so.

[TERA]

That SEC article was warning about people who promote investments as being a gauranteed high return and risk free.  Well bitcoin bulls go even one step further than this, to tell you that holding cash itself is risky.

Cash is not risky. You are guaranteed to lose, and the guarantee is backed by the full coercive force of the largest government the world has ever seen.

Not even gold is a guaranteed winner every year, because it is only backed by free market.

Let me reprhrase this then... Bitcoin bulls go one step further to tell you not only is Bitcoin risk-free but that if you aren't holding bitcoins, you are taking a risk because holding fiat is risky and bitcoin is clearly the way out of that risk. So bitcoin is not only risk free, but acts as an inverse risk. It is the infallible investment made in heaven and you you need to buy buy buy or die. They are not only going to quell your fears about holding bitcoin but make you fear NOT holding bitcoin. Because bitcoin is the solution for the apocalypse and when the system fails, bitcoiners will become filthy rich. It is the DESTINY. Bitcoin is like a rapture and you need to be on board or be left to perish.

Lately I've been seeing so much more complaining about the "bitcoin cultists" than actual cultists. Are you sure they actually exist? Where are those guys?

I would like to coin a new term: Bitcoin cultist cultists (aka. BCC) - seeing raving bitcoin cultists everywhere and being convinced they will destroy everything with their unbridled optimism and faith  

I think they're referring to rpietela and his disciples.

[EuroTrash]

Long term downtrend resistance line meeting recent horizontal ghost support line at 429+ in a few days. While the volume stays paper thin.
No one is in the street, everyone is waiting, cowboys gonna duel. Up or down, who knows.

[ChartBuddy]

Explanation

[edwardspitz]

Something to pass the time if you are a cultist in the Church of the SubGenius (the only religion I subscribe to). "I was a cultist for the ATF": http://www.radiohorrorhosts.com/cultist4ATF.html - The intro is kind of funny.

[EuroTrash]

We hold these truths to be self-evident, that not all money systems are created equal, and that bitcoin will rise forcefully from it current level which is below the bottom.

While I am OK with the first part, the "current level is below the bottom" part is inherently incorrect.

[edwardspitz]

Long term downtrend resistance line meeting recent horizontal ghost support line at 429+ in a few days. While the volume stays paper thin.
No one is in the street, everyone is waiting, cowboys gonna duel. Up or down, who knows.

+1. I think we most likely get some bad news from China. I didn't follow the events too closely yesterday, but it seemed to me that the Chinese exchanges were still able to lead the rest of us. But at this point really good news could also spark a rally. If we go past $460 it might be the last chance to get sub $500 coins for a while. But I don't feel it is very likely.

[Erdogan]

We hold these truths to be self-evident, that not all money systems are created equal, and that bitcoin will rise forcefully from it current level which is below the bottom.

While I am OK with the first part, the "current level is below the bottom" part is inherently incorrect.

Yes, but the creator of this thread said so. A religion does not need to be coherent, in fact it can not be. 

[ErisDiscordia]

Something to pass the time if you are a cultist in the Church of the SubGenius (the only religion I subscribe to). "I was a cultist for the ATF": http://www.radiohorrorhosts.com/cultist4ATF.html - The intro is kind of funny.

thanks for that. Subgenius is a wonderful religion (I practice it every Thursday). Just so you're not stuck with just ONE religion, you should try being a discordian pope every once in a while. It's fun cause you're infallible.  

[el_rlee]

Long term downtrend resistance line meeting recent horizontal ghost support line at 429+ in a few days. While the volume stays paper thin.
No one is in the street, everyone is waiting, cowboys gonna duel. Up or down, who knows.

+1. I think we most likely get some bad news from China. I didn't follow the events too closely yesterday, but it seemed to me that the Chinese exchanges were still able to lead the rest of us. But at this point really good news could also spark a rally. If we go past $460 it might be the last chance to get sub $500 coins for a while. But I don't feel it is very likely.

What's the status of the Chinese exchanges now? Is it still possible to deposit CNY fiat there?