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

[ChrisML]

570?
Never again!

I like you. 

600 and beyond. Moon.

[Adrian-x]

Sorry Jorge I can't help myself,  I just need to know why?  

Because 90% of what has "bitcoin" in it IS scams or stupid ideas.  Starting with attempts to convince the unwary to buy bitcoins "because they will go to the moon" or "a hedge against inflation" etc..

For example, I  already mentioned a couple of days ago that student of mine who had been offered to join some GPU-based bitcoin mining enterprise.

I have to check who is on the board of the Brazilian Bitcoin Foundation.  I would almost bet that the creator of the BitcoinRain ponzi is there.

you are good at spotting the scammers, I'm still a little too trusting (I'd say 75%), now lets leverage that 10% - to the moon  
FYI bitcoin is the only thing I have ever been involved in that is a viable inflation hedge. will it be for everyone, I have no idea, but I know I'm as biter as hell when I look at how my money has been debased. so I'm going to make this work.

[wachtwoord]

570?
Never again!

I'm more conservative. $50? never again!

[adamstgBit]

What is 500,000 bits anyway? So have people stopped pushing mBTC and now they want an even smaller unit? Just stick with BTC as the unit.... it's getting ridiculous.... next is nanobit? satoshi? Maybe we should schedule a unit change every 2 years....

Right now you can get 1740 bits for 1 USD.  Sounds like a lot to me 

Personally, I think the colloquial term "bits" will stick.  For those pushing SI prefixes, perhaps a good compromise would be to use μBTC or μ as the symbol.

i like "bits" good sound to it, much better then u-bit or mili-bit

1bit  1/1,000,000BTC right?

this stuff needs to be made official, and websites have to start displaying pricing in bits

[Adrian-x]

mBTC is logical as does every SI unit (from KBTC all the way to uBTC). Bits is ridiculous.

the slang for uBTC is bits, and the SI unit for 1BTC is known as a MegaBit  . if you don't like my Bits call them what you like.

Did they change the bit standard to equal 1 uBTC? It was some other different value before ...

I understood that 1 uBTC = 1 bit
http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

[ChrisML]

PUMPING!!!!!

[Krabby]

bits is good, I don't think people could stand buying something with the name which implies fractions of a 'coin' (even though it is (and that we use ml)).

[JorgeStolfi]

Every time you buy a bitcoin, you're giving Hitler a punch in the face.

Is it really?

I wonder what the neo-nazis, Aryan supremacists, Ku Klux Klansmen etc. think of bitcoin.  (Any pointers?)

At least some posts I saw on this forum (not on this thread, IIRC) were more than a bit worrying in that regard.   

(By the way, I must say that this thread, besides having the highest "liquidity" by far in this forum (often the only one that shows on my watch list), and the broadest variety of topics, also has overall the best karma.  Most people here are speculators who just want to get rich by outsmarting other speculators -- a goal that I can't find fault with.  Some of the other threads, on the other hand, would provide abundant material for several PdD theses in clinical psychiatry.  I don't like American football at all, but would rather hang out in a sports bar than in a lunatic asylum.  )

[adamstgBit]

mBTC is logical as does every SI unit (from KBTC all the way to uBTC). Bits is ridiculous.

the slang for uBTC is bits, and the SI unit for 1BTC is known as a MegaBit  . if you don't like my Bits call them what you like.

Did they change the bit standard to equal 1 uBTC? It was some other different value before ...

I understood that 1 uBTC = 1 bit
http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

its not offical till someone makes a fancy looking color coded graphic displaying all the different denominations of bitcoin

[hd060053]

the same entity/person/bot on bitstamp who bought to 590 is pumping again without support of huobi.

[podyx]

[ChrisML]

the same entity/person/bot on bitstamp who bought to 590 is pumping again without support of huobi.

I love that bot. $600> tonight?

Would love an epic night pump! (no homo)

[wachtwoord]

the same entity/person/bot on bitstamp who bought to 590 is pumping again without support of huobi.

I love that bot. $600> tonight?

Would love an epic night pump! (no homo)

Willy!

[ChrisML]

BTC-E is pulling along.

Huobi is being the bitch this time. Or, as always.

[akujin]

Damn bitfinex! Y u no pumping? 

[Peter R]

its not offical till someone makes a fancy looking color coded graphic displaying all the different denominations of bitcoin

From DennisD7 of r/Bitcoin:

http://www.reddit.com/r/Bitcoin/comments/24m4ps/proposed_shape_for_the_bits_symbol_is_a_square/

[kurious]

Well Adam - you asked for graphics!

[Marbit]

What is 500,000 bits anyway? So have people stopped pushing mBTC and now they want an even smaller unit? Just stick with BTC as the unit.... it's getting ridiculous.... next is nanobit? satoshi? Maybe we should schedule a unit change every 2 years....

If it becomes necessary every two years, I will be quite happy.

If BTC moves like that in price, I'll be quite happy. But I'll be quite annoyed it's actually accompanied by a push to repeatedly change the unit. Just seems like it makes things perpetually confusing.

The confusion might be greater for someone telling you the price of a coffee in BTC.

After a few decimal places, well - it might make sense that you would want a more sensible unit to talk about, one day....

"How much is the coffee" must produce a sensible answer - so the 'units debate' is not too ridiculous.

Even if I often seem to be on the losing side of it!

I kind of feel like if people are communicating in different units, and displaying their wallet balances in different units, that inevitably many will accidentally send orders of magnitude too much or too little. Problematic with an irreversible payment method.

[RandomPedestrianN9]

What is 500,000 bits anyway? So have people stopped pushing mBTC and now they want an even smaller unit? Just stick with BTC as the unit.... it's getting ridiculous.... next is nanobit? satoshi? Maybe we should schedule a unit change every 2 years....

If it becomes necessary every two years, I will be quite happy.

If BTC moves like that in price, I'll be quite happy. But I'll be quite annoyed it's actually accompanied by a push to repeatedly change the unit. Just seems like it makes things perpetually confusing.

The confusion might be greater for someone telling you the price of a coffee in BTC.

After a few decimal places, well - it might make sense that you would want a more sensible unit to talk about, one day....

"How much is the coffee" must produce a sensible answer - so the 'units debate' is not too ridiculous.

Even if I often seem to be on the losing side of it!

I kind of feel like if people are communicating in different units, and displaying their wallet balances in different units, that inevitably many will accidentally send orders of magnitude too much or too little. Problematic with an irreversible payment method.

Oooooooooooooops.

[Richy_T]

Yaknow, whenever something great is built, there's always someone who comes along and wants to change it all about or otherwise vandalize it just so they can say "I was part of that". This is a solution looking for a problem.

If you want square "bits" go make yet another alt-coin.