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

[adamstgBit]

[YipYip]

<censored>

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Please people, stop quoting that guy. He consistantly gets "facts" completely wrong. I don't think he's stupid, so he must be doing it on purpose, ie trolling.

Second Market has bought over 100,000 bitcoins. That makes them in fact one of the largest buyers in the world.

I dont undertstand why we are still entertaining him as his motives are obviously not genuine....

[shmadz]

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Right. Thanks to SMBIT, traders only have to worry about the destination of ~27'000 BTC per week, rather than 28'000. 

Seriously, there is at least another bitcoin fund similar to SMBIT (Pantera Bitcoin Partners, PBP).  Does anyone know how much they have and are buying?

Weeks eh?  In 115 weeks that becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

You have a problem with the "Satoshi blockchain" and you have a problem with the idea of a finite supply limit.  No surprise; they are the same thing.

shhhh, you don't want to scare the children. we must protect the children from this "funny money".

PLEASE THINK ABOUT THE CHILDREN!!1

[ChartBuddy]

Explanation

[JorgeStolfi]

In 115 weeks [the block reward] becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

I confess that my math has not got there yet (sincerely). What will happen then? Will the miners start charging fees to make up for the difference?  Or is the price of bitcoin expected to double at that moment?  Or none of the above?  Or both of the above?

[silverfuture]

In 115 weeks [the block reward] becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

I confess that my math has not got there yet (sincerely). What will happen then? Will the miners start charging fees to make up for the difference?  Or is the price of bitcoin expected to double at that moment?  Or none of the above?  Or both of the above?

With questions like that, I'd recommend getting out of the wall observer thread and start taking an academic interest in bitcoin.

[smiley123]

In 115 weeks [the block reward] becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

I confess that my math has not got there yet (sincerely). What will happen then? Will the miners start charging fees to make up for the difference?  Or is the price of bitcoin expected to double at that moment?  Or none of the above?  Or both of the above?

Technically miners can neither charge fees nor set the price of the fees.

[YipYip]

In 115 weeks [the block reward] becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

I confess that my math has not got there yet (sincerely). What will happen then? Will the miners start charging fees to make up for the difference?  Or is the price of bitcoin expected to double at that moment?  Or none of the above?  Or both of the above?

With questions like that, I'd recommend getting out of the wall observer thread and start taking an academic interest in bitcoin.

Trolling........

Has anybody actually confirmed that Jorge is the real Jorge ?

[shmadz]

In 115 weeks [the block reward] becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

I confess that my math has not got there yet (sincerely). What will happen then? Will the miners start charging fees to make up for the difference?  Or is the price of bitcoin expected to double at that moment?  Or none of the above?  Or both of the above?

With questions like that, I'd recommend getting out of the wall observer thread and start taking an academic interest in bitcoin.

no shit prof, that was one of the lamest troll attempts I think I have ever seen.

[YipYip]

In 115 weeks [the block reward] becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

I confess that my math has not got there yet (sincerely). What will happen then? Will the miners start charging fees to make up for the difference?  Or is the price of bitcoin expected to double at that moment?  Or none of the above?  Or both of the above?

Really Jorge...you are a little weak in the maths dept ??

So when your work is based around

"I am a professor of computer science at the State University of Campinas, Brazil. Most of my work outside Wikipedia is related to computer graphics, computational geometry, image processing and numerical computing"

Your a joke & have some sort of mental disorder that enjoys this attention...

Sad..Sad ..Sad...

Personally I think some form of due dilligence should be done to confirm it is the real "Jorge Im A Nut Job Stofli"

[Syke]

With questions like that, I'd recommend getting out of the wall observer thread and start taking an academic interest in bitcoin.

Since everyone is still quoting him, I'll add my kick.

Jorge, here's a homework assignment for you. Shouldn't take you more than 1 hr. What big bitcoin even happened on Nov 28, 2012? On second thought, that might be too hard for you. Here's a clue. It happened on block # 210,000.

[ShroomsKit]

Seems like a lot of new people are looking at Bitcoin the last few days. Anybody else noticed that?

[byronbb]

Wondering if this is close enough to be considered a pennant closing on the 30min..bullish?

On the longer time frame we broke the down trend early and sitting above a resistance level. Imo the rocket is on the launch pad.

[ShroomsKit]

Ok, this Stolfi thing is getting really annoying. Even though i have the idiot on ignore it's about the only thing i see in this thread the last few days.
He's a troll and not here for Bitcoin but for himself. It's clear the guy needs attention. And lots of it. That he does this on a Bitcoin forum is coincidence. He could've signed up for any random, busy forum.
Too bad our mod is a troll too. Any real mod would ban the guy.

[BBmodBB]

Seems like a lot of new people are looking at Bitcoin the last few days. Anybody else noticed that?

yes +some key figures are getting back in from 2012!!! ;-) *now we just looking safe here to 700+ imo

[ChrisML]

Ok, this Stolfi thing is getting really annoying. Even though i have the idiot on ignore it's about the only thing i see in this thread the last few days.
He's a troll and not here for Bitcoin but for himself. It's clear the guy needs attention. And lots of it. That he does this on a Bitcoin forum is coincidence. He could've signed up for any random, busy forum.
Too bad our mod is a troll too. Any real mod would ban the guy.

I've tried.

Posted something similair a few days back, it is, fucking annoying.

50 threads are being openend each day in the speculation area.. and not one of these "profs" came with the idea to open a "Jorge" thread. Please, just ff'in do so.

In the meantime:

We broke the downtrend. BTC is slowely climbing to the resistance area, launch pad clear? Buzz aldrin; move outta the way

[octaft]

Now the strategy is to talk (troll) the price down which has the dual goal of punishing all those who did get in early, while possibly enjoying a new chance to do the same at 2010 prices.

Your opinion is someone overly critical of bitcoin is attempting to troll the price down. I won't argue with that, because I don't know their true intent.

It does make me curious, though: what is your opinion of people who are posting trains and shouting "to da moon?" Would you consider them to be trolling the price up?

[hyphymikey]

We wont break the record for longest thread without talking about Jorge!

[ChartBuddy]

Explanation

[JorgeStolfi]

My preferences are not important.  The point is that a system that does not allow the forcible return of stolen property will not be acceptable to society, except for thieves and other criminals.  In the end, it will be rejected even by the libertarians who now think that irreversibility is a good thing.

Forcing the return of stolen bitcoin is no more or less difficult than forcing the return of any other stolen good.  Why would you think otherwise?  The only reason I can see why you would think otherwise is that you are identifying banks as the only actors worthy of recognition.

Sigh. Dear @aminorex and others, please note that my opinion is not important for this issue.  Neither is your opinion, or that of anyone in this thread.   What matters is the opinion of the other 7 billion people on Earth, and especially of some of them:

"Dear Government of the United States of America,

We respectfully ask Your permission to market a Bitcoin-based ETF to Your esteemed Citizens through exchanges operating under Your jurisdiction.  We also respectfully request that You enact just the right level of regulation of the Bitcoin economy to enhance public confidence without hampering the viability of this and other Bitcoin-based ventures in Your territory.

Your cooperation in these matters will be essential for the widespread adoption of Bitcoin, which, as You know, was ingeniously designed with the express purpose of enabling American and foreign citizens to freely move arbitrary amounts of money across Your borders, without Your knowledge and beyond Your control; and also to safely store and transfer the financial resources of enemies of Your Country, as well as the profits from thefts or any other activity that is illicit under Your Laws (including tax evasion), committed by or against Your Citizens and Corporations, in such a way that neither your Law Enforcement Agencies, nor any international agency, will be able to block them, seize them, or return them to their rightful owners.  

We are confident that You will understand the importance of our project, and hope that You will help us make our dreams come true.

Sincerely,

-- We The Bitcoiners --

Can you see now why I think that irreversibility is going to be a problem for bitcoin -- not for me?

PS. As for all the others who insist on discussing ME instead of bitcoin (and post 10 replies for each post of mine, with nothing but comments about ME, and then blame ME for it): I am sorry to break your hearts folks, but I am already married.