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

[sidhujag]

2. Thanks again for the offer, but I would rather not have any bitcoins, and I do not intend to help distributing bitcoins to anyone, my students or not.  I am sure you will find charities or other worthy projects that will make much better use of the money.

Very predictable reaction. I have to wonder, though: I can understand you being reluctant to use your own money the money given to you by the government to buy bitcoins if you think the technology will fail. I can even understand yourself declining offers for free bitcoins, because of your seeming conviction that if you use it just even once, your objective judgement will be forever clouded. Which I personally think is some of the biggest bullshit I've ever seen on these forums, but hey I like bullshit - see my signature.

But what about distributing free bitcoins to other people? What is your rationalization for declining that offer? That there are "better uses" for the money? Please kindly let the owners of said money be the judge of that. Or are you afraid, that people will get hooked on it, just like if we offered them free heroin? You want to protect them from themselves, because you're convinced you know best what's good for other people? How about letting them form their own opinion? If you're so sure that your opinion is right, they'd probably just validate it by forming the same one.

I think your reasons are different. Even though your pride and your posting track record will never allow it, at some level you realize that your opinion might be wrong. And you fear the embarrassment of your students becoming enthusiastic about the technology. So you would deny them the option to form their own opinions just to protect your pride. I am calling you out on this because I think it's quite pathetic.

Whats even worsed is hes on a bitcoin forum posting daily about something he doesnt believe in lol classic trollism 101...

[zby]

By the way - what is the current status of the Chinese exchanges? Are they cut out from the banking system and use HuobiCNY and such?

[JorgeStolfi]

2. Thanks again for the offer, but I would rather not have any bitcoins, and I do not intend to help distributing bitcoins to anyone, my students or not.  I am sure you will find charities or other worthy projects that will make much better use of the money.

But what about distributing free bitcoins to other people? What is your rationalization for declining that offer?  Or are you afraid, that people will get hooked on it, just like if we offered them free heroin? You want to protect them from themselves, because you're convinced you know best what's good for other people? How about letting them form their own opinion?

If I am fairly skeptical (to put it mildly) that bitcoin will succeed, why should I HELP you get other people into it?

I am not preventing you from doing anything, and in fact (unfortunately) there are already plenty of bitcoin "salesmen" here in Brazil.  Surely all our students have learned about bitcoin, and well before I did.  I hope they are smart enough to see through the hype, but they are adults and will make their own minds. (The "salesmen" are after other kind of people, however.) Brazilian hackers have created at least three altcoins already, and we have a good choice of bitcoin scams, popped or ongoing.

[Gimmelfarb]

By the way - what is the current status of the Chinese exchanges? Are they cut out from the banking system and use HuobiCNY and such?

i don't think so. i haven't heard anything about that, as far as banking options being cut. seems like everything just continued as usual. last i heard, all options were more or less still available and the status quo hasn't changed. puts a nice cloud of mystery over the whole market....

[ChartBuddy]

Explanation

[ErisDiscordia]

2. Thanks again for the offer, but I would rather not have any bitcoins, and I do not intend to help distributing bitcoins to anyone, my students or not.  I am sure you will find charities or other worthy projects that will make much better use of the money.

But what about distributing free bitcoins to other people? What is your rationalization for declining that offer?  Or are you afraid, that people will get hooked on it, just like if we offered them free heroin? You want to protect them from themselves, because you're convinced you know best what's good for other people? How about letting them form their own opinion?

If I am fairly skeptical (to put it mildly) that bitcoin will succeed, why should I HELP you get other people into it?

To allow them to make up their own minds and form their own opinions about it maybe?

As suspected, you seem to think that just because you think a certain way about Bitcoin technology, everyone should and eventually will do so as well. May I say this is a fairly typical attitude for a (self-confessed) government apologist. You people just can't stop thinking that there is just one answer for everything, one correct solution for everyone...and that you have it, know it and are definitely not above forcing it on everyone. For their own good, of course.

Fortunately it is the statists who don't understand how the world works and always bypasses their attempts at controlling everything according to their morals. Your students will get bitcoins (if they wish - we will not be forcing our opinion on anyone) and there is nothing you can do to stop it

[zby]

By the way - what is the current status of the Chinese exchanges? Are they cut out from the banking system and use HuobiCNY and such?

i don't think so. i haven't heard anything about that, as far as banking options being cut. seems like everything just continued as usual. last i heard, all options were more or less still available and the status quo hasn't changed. puts a nice cloud of mystery over the whole market....

Wonder when we'll have another bunch of news from there.

[JorgeStolfi]

Whats even worsed is hes on a bitcoin forum posting daily about something he doesnt believe in lol classic trollism 101...

And even worse, having to scroll through dozens of replies to every post of mine, by people who have nothing useful to say about bitcoin, but think it is important to discuss my person. 

[keithers]

Havent checked the charts in a bit but it seems as though we still need to get through the $585 levels. Given the momentum that we built up throughout the holiday weekend, im actually surprised that we haven't managed to get through and stay above yet...

[Gimmelfarb]

By the way - what is the current status of the Chinese exchanges? Are they cut out from the banking system and use HuobiCNY and such?

i don't think so. i haven't heard anything about that, as far as banking options being cut. seems like everything just continued as usual. last i heard, all options were more or less still available and the status quo hasn't changed. puts a nice cloud of mystery over the whole market....

Wonder when we'll have another bunch of news from there.

this is just a hunch. but the PBOC doesn't seem to like bitcoin to get too volatile, hence the earlier announcements from some of the Chinese exchanges that they would cut out margin trading (among other comments from people like Bobby Lee). so i think if BTC does start to bubble up, PBOC might have something to say about it. then, we'll see if bitcoin cares.

[JorgeStolfi]

If I am fairly skeptical (to put it mildly) that bitcoin will succeed, why should I HELP you get other people into it?

To allow them to make up their own minds and form their own opinions about it maybe?

As suspected, you seem to think that just because you think a certain way about Bitcoin technology, everyone should and eventually will do so as well.

Let me say it again: if I believe that the medicine you are selling is snake oil, why should I give you a mailing list of people for you to send them free samples and advertising?

Your students will get bitcoins (if they wish - we will not be forcing our opinion on anyone) and there is nothing you can do to stop it

And that is what I wrote.

[ErisDiscordia]

Let me say it again: if I believe that the medicine you are selling is snake oil, why should I give you a mailing list of people for you to send them free samples and advertising?

Selling? We are giving out free samples Would you deprive your poor students of free penis enlargement pills and royal Nigerian money, too?

Well, I was thinking that with you being an enthusiastic student of snake oil, you might want to study the effects of using it on the next best test group to laboratory rats - university students

@hmmmstrange: we will have to find someone else - as expected. Are you still up to it?

[MahaRamana]

If I am fairly skeptical (to put it mildly) that bitcoin will succeed, why should I HELP you get other people into it?

What are the arguments of Jorge in doubt of bitcoin success ? Could you please point to some posts where his thoughts are well developed ?
thanks

[edwardspitz]

Whats even worsed is hes on a bitcoin forum posting daily about something he doesnt believe in lol classic trollism 101...

And even worse, having to scroll through dozens of replies to every post of mine, by people who have nothing useful to say about bitcoin, but think it is important to discuss my person. 

Jorge, have you noticed how this correlates with the resent price-drop? Every time there is a drop the cult gathers to reaffirm themselves that bitcoin is amazing and mock the scientist. Science vs. religion/cultism? I feel that you have plenty of useful things to contribute, although you do not seem to take in arguments that well You are always polite (as someone else pointed out), humorous and obviously very interested in Bitcoin. It says in your signature that you are skeptical, so what do people expect? I really don't see why some feel the need to make it personal. My point is: Don't worry about emotional traders.

[ChrisML]

Wow.

4 pages of Jorge discussions. Amazing, simply fucking amazing.

Is there a way to ignore posts with related words? Like the word "Jorge" for example.

Would be great.
[/quote

[JorgeStolfi]

By the way - what is the current status of the Chinese exchanges? Are they cut out from the banking system and use HuobiCNY and such?

As far as I know, they still have withdrawals, but not deposits, via bank-to-bank transfers.

Huobi however has a "recharge card" system (it is on their homepage), clients put money into the card somehow and then use the card to deposit CNY.

OKCoin has a few "broker" clients who have large accounts in the exchange, or some special way to move money in.  Ordinary clients send money to the brokers, without involving OKCoin, and get from them "recharge codes" that entitles them to transfer money from the broker's account at OKCoin to their own.

I do not know about other exchanges.

I do not know whether those arrangements are acceptable to the government (PBoC is only one of several agencies concerned about bitcoin and the exchanges).  Several banks and payment processors have posted a standard notice that they will close any account that is used to trade bitcoin, and ask the public to denounce any such thing.  On the other hand, it is possible that the exchanges got some respite, permanent or temporary, with their joint promise (in early May) of cleaning up their act.

In any case it seems that deposits are still possible, although perhaps not as convenient as before.

That is what I understood of the situation until recently, I don't know if there have been recent changes.

[Threebits]

By the way - what is the current status of the Chinese exchanges? Are they cut out from the banking system and use HuobiCNY and such?

i don't think so. i haven't heard anything about that, as far as banking options being cut. seems like everything just continued as usual. last i heard, all options were more or less still available and the status quo hasn't changed. puts a nice cloud of mystery over the whole market....

I noticed that Huobi's price was usd $10 lower than that of bitstamp, coming to current equavalent, or enen slightly higher.

This tells that the banking system has not cut out. No only so, it might indicate fresh fiat is flowing in. Anyone has different reading?

[fonzie]

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[ChartBuddy]

Explanation

[edwardspitz]

By the way - what is the current status of the Chinese exchanges? Are they cut out from the banking system and use HuobiCNY and such?

i don't think so. i haven't heard anything about that, as far as banking options being cut. seems like everything just continued as usual. last i heard, all options were more or less still available and the status quo hasn't changed. puts a nice cloud of mystery over the whole market....

I noticed that Huobi's price was usd $10 lower than that of bitstamp, coming to current equavalent, or enen slightly higher.

This tells that the banking system has not cut out. No only so, it might indicate fresh fiat is flowing in. Anyone has different reading?

It has nothing to do with banking or fresh fiat. It is a bullish sign though. I is always positive when you wake up and China hasn't dumped