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

[mmitech]

Adoption is speeding up, volume just reached its new ATH, another Bitcoin exchange went down.....probably server issues, definitely not a security breach or stealing customers coins on purpose.

TO DA MOON!

don't you have anything better to do with your life ? I can't even imagine what an empty life you have, being able to come here and waste your time and energy and nerves on a something is "doomed" is really pathetic, don't forget every minutes of your life counts, use your time wisely.... but if you want me to translate that to your understanding level, then it translates to: "get a fucking life"

[kehtolo]

Adoption is speeding up, volume just reached its new ATH, another Bitcoin exchange went down.....probably server issues, definitely not a security breach or stealing customers coins on purpose.

TO DA MOON!

don't you have anything better to do with your life ? I can't even imagine what an empty life you have, being able to come here and waste your time and energy and nerves on a something is "doomed" is really pathetic, don't forget every minutes of your life counts, use your time wisely.... but if you want me to translate that to your understanding level, then it translates to: "get a fucking life"

I think I broke my record for fatest ignore with this idiot. Try not to rise to the bait.. you may be unknowingly providing some sick amusement. Find the ignore button and use it. Please don't repost or quote him.. and don't feed the troll. Thank you.

[Ultros]

I think I broke my record for fatest ignore with this idiot. Try not to rise to the bait.. you may be unknowingly providing some sick amusement. Find the ignore button and use it. Please don't repost or quote him.. and don't feed the troll. Thank you.

This.

[oda.krell]

[...]
don't you have anything better to do with your life ? I can't even imagine what an empty life you have, being able to come here and waste your time and energy and nerves on a something is "doomed" is really pathetic, don't forget every minutes of your life counts, use your time wisely.... but if you want me to translate that to your understanding level, then it translates to: "get a fucking life"

I think I broke my record for fatest ignore with this idiot. Try not to rise to the bait.. you may be unknowingly providing some sick amusement. Find the ignore button and use it. Please don't repost or quote him.. and don't feed the troll. Thank you.

For me, it's a tie between mah-somenumber and pedestrian. But yeah, less than a day in any case.

Other accounts, like pumpkinhead guy, are trickier: lots of trolling, but the occasional insightful comment, so I really tried to keep him off the list. But I failed ultimately. Forgive me, oh Lord!

[ChartBuddy]

Explanation

[Bagatell]

For me, it's a tie between mah-somenumber and pedestrian. But yeah, less than a day in any case.

Other accounts, like pumpkinhead guy, are trickier: lots of trolling, but the occasional insightful comment, so I really tried to keep him off the list. But I failed ultimately. Forgive me, oh Lord!

I ignored two of those in your list on their first posts - I guess I got it right 

Bring back the shit stained ignore button!!

[eiskalt]

quick and dirty, but I like it (especially the parabola in the LSMA  ).

[Asrael999]

You really would have to have a monumental lack of patience to dump 500 coins at once into this market. At least do 250, let the bids fill in again and then do the other 250.

[aminorex]

If bitcoin or a new gold standard catches on their self-destructive behavior will destroy them, or they will notice their behavior is self destructive and they might change their ways.

It is not self-destructive to sell your neighbors children into slavery.  It isn't good or wise, but it is not self-destructive in the ordinary use of the term.

[conspirosphere.tk]

the idea that they produce millions of cars just to forever stow them away (in fact, we're almost running out of space on earth to store all of them, the article implies) is laughable.

until someone else pays for it, anything is possible

[aminorex]

  Cost of equipment: CEQ = 2000 USD/(GH/s) (modern equipment)
 
   [Source: @aminorex]

I think that's a typo or something, should be closer to 2000 USD/(TH/s) I believe.

Yeah I was sloppy and erred.  Thps it should be,  and the $ figure could well be obsolete as these prices change constantly and I haven't checked in a few weeks.

[Cassius]

  Cost of equipment: CEQ = 2000 USD/(GH/s) (modern equipment)
 
   [Source: @aminorex]

I think that's a typo or something, should be closer to 2000 USD/(TH/s) I believe.

Yeah I was sloppy and erred.  Thps it should be,  and the $ figure could well be obsolete as these prices change constantly and I haven't checked in a few weeks.

You also missed an apostrophe in your earlier post. Most unlike you; perhaps you are tired today.

[aminorex]

The demise of the USD and the probable fall of the Euro, Pound and Yen as well will make Bitcoin look very appealing

You could be waiting a long time for that to materialise

japanese debt passed 1 quadrillion yen.  more adults in diapers than infants now.

Europe faces the same fate as japan unless at least half of their debt is destroyed.  

Politics of regulatory capture makes needful debt destruction impossible.  Politicians are owned by the rentiers.

Therefore the monetary system is doomed.

On the day this becomes common knowledge, confidence disappears.  Debt based money does not work without confidence.

months, maybe years, but definitely not decades.

U.S. is somewhat different due to "exhorbitant privilege" as reserve currency, so it will last longer unless it takes a decapitation hit.  E.g. nukes in d.c. and nyc compliments of putin, or a gold dinar replaces petrodollars.

[ChartBuddy]

Explanation

[shmadz]

You really would have to have a monumental lack of patience to dump 500 coins at once into this market. At least do 250, let the bids fill in again and then do the other 250.

what if you're trying to sell several thousand coins and have been doing so in ~500 coins chunks over the past several days?

[aminorex]

You also missed an apostrophe in your earlier post. Most unlike you; perhaps you are tired today.

Heavy use of opiates past couple of weeks. Still recovering from damage taken. Thumb typing in bed.

[Asrael999]

You really would have to have a monumental lack of patience to dump 500 coins at once into this market. At least do 250, let the bids fill in again and then do the other 250.

what if you're trying to sell several thousand coins and have been doing so in ~500 coins chunks over the past several days?

you would still be better off going slower than 500 coin lots. And yes I agree that is exactly what someone is doing, either a miner or someone who owns a lot of coins from somewhere else - although one hopes that Stamp might have refused one particular exchange operator an account.

[RandomPedestrianN9]

This dumper is clever, he knows BTC is worthless and USD talks. Who in their right mind would sell 500 BTC batches for 450 when their value is at least 10 billion dollars, right?

[nidhogg1]

The demise of the USD and the probable fall of the Euro, Pound and Yen as well will make Bitcoin look very appealing

You could be waiting a long time for that to materialise

japanese debt passed 1 quadrillion yen.  more adults in diapers than infants now.

Europe faces the same fate as japan unless at least half of their debt is destroyed.  

Politics of regulatory capture makes needful debt destruction impossible.  Politicians are owned by the rentiers.

Therefore the monetary system is doomed.

On the day this becomes common knowledge, confidence disappears.  Debt based money does not work without confidence.

months, maybe years, but definitely not decades.

U.S. is somewhat different due to "exhorbitant privilege" as reserve currency, so it will last longer unless it takes a decapitation hit.  E.g. nukes in d.c. and nyc compliments of putin, or a gold dinar replaces petrodollars.

If fiat falls, bitcoin will fall too. Count on it

[JorgeStolfi]

Jorge here is a paper just issued on the topic: http://www.ofnumbers.com/wp-content/uploads/2014/04/Learning-from-Bitcoins-past.pdf.

Thanks, but I posted that link here a couple of days ago  I found it through an article referred by @Walsoraj.

also published is a piece on other hurdles: www.bitcoinmagazine.com/12914/bitcoins-made-in-china
[ ... ]
At the end of the day we will be free to choose, greedy miners won't survive neither will greedy bankers.

Up to 10--15 years ago, many long-term projections were made based on Moore's law, which was then interpreted as clock speed increasing exponentially.  While CPU manufacturers competed for clock speed, their number decreased; until only very few were left by the time the clocks had reached 2-3 GHz.  All of a sudden the speed stopped increasing.  Could it have been really phyiscal limits, or was it an agreement among the manufacturers to stop that competition, for their common interest? At that point the market was no longer free, various factors prevented some new company from coming into the market with a faster and economically competitive CPU.

One hurdle that is often mentioned but apparenty not resolved is the concentration of mining into a few large corporations.  IIRC it is already the case that 3-4 companies have more than 51% of the network's harshrate.  If a mining cartel were able to keep competition out, they would end up being just as nasty as the banking cartel is today, and will surely cooperate with them on fees, government corruption, etc.

Banking would be wonderful if it were a really free market.  In particular, international money transmittal fees would be a tiny fraction of a percent, and there would be no economical justification for bitcoin.  Will bitcoin mining continue to be a free market?