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

[Mervyn_Pumpkinhead]

If you want to generate wealth, then you have to either 1) work hard 2) be talented 3) deceive others

4) Let others do the hard work for you.

Wealthy people don't usually get wealthy by working for themselves. They let others do the hard work for them. And no this isn't taking advantage of people, it's called giving someone else a job.

I don't know if you're being sarcastic or serious, but I'll give you the benefit of the doubt that you are serious. I have witnessed this kind of sincere immaturity here before.

That is exactly what wealthy people are doing - working for themselves, not for others. Running a company and offering jobs is hard work, not a privileged status to leech on others. If you run a company, then you have to have the broadest understanding of the entire company and it's business. To have any authority in the eyes of the employees, you have to know what you're doing. You have to work harder and know more then those under you, to have the respect needed for solid structural development. When companies are created by fools, who think that being an entrepreneur equals free-loading, then it's no surprise that these companies fail. These attempts to start a company, are made by those who are lazy and dumb, but they would really like to play the role of "the boss". People like that only get anywhere, when they do things like traffic drugs or win the lottery. There is also a proper amount among these people, who hope for riches through bitcoin.

[wachtwoord]

Tim Draper will be giving a live press conference in about 40 minutes:

http://new.livestream.com/draperuniversity/bitcoin-auction?utm_content=buffer11587&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

we will be livestreaming a press conference at 2PM from the building here, which should hopefully answer a lot of questions.  Tim will most likely not be doing an AMA on reddit, but it looks like Adam will be moderating the press conference, so we will try to pull some questions from here. Sorry, but the bid price will not be revealed.
edit: 2PM Pacific edit 2: Livestream link

[seleme]

What happened with that Ripple founder who announced he is going to sell his stuff? Doesn't look like he did, price is still kinda respectable (though lot lower than before)

[criptix]

It's not supposed to be a Utopia either. That's something the collectivists tend to strive for. Though I do share some reservations about a completely anarchic system and the likelihood of sociopaths continuing to seek power. Though advancements in weapons technology have leveled the playing field there somewhat.

You lost me there.  The field was most level when our weapons were hands, feet, and teeth.  It has become steadily more uneven since then: the guys with more money generally have the best defenses and deadliest weapons, and technological advances have only amplified the difference.  

No. It might have been nearly level between young, fit men but age a bit, get sick or be a child or female and you start getting power imbalance. Band a few young fit healthy men together and you start having a mechanism for subjugation. Throw swords in there, expensive and rare at the time and requiring, once more, a degree of physical prowess to operate successfully and you've cemented the deal.

Now, throw a few inexpensive firearms in there and suddenly even the weak and unskilled can put down several oppressors without letting their physical advantage get anywhere close. It's a game-changer (physical advantage still plays into things but its importance is greatly diminished).

God Made Man But Samuel Colt Made Them Equal

[aminorex]

BTW: Did he end up losing his dr. title or not?

Yes, but it was his own decision, no court order.

I was wrong, his university reverted his title, so not his decision.

A little of both I think.

[aminorex]

Hadn't heard of that Guttenberg fella before but by the sound of things his greatest error was probably not seeing the possible implications of what he was given to copy.

You mean the vulgate bible?

[zwickl]

Hadn't heard of that Guttenberg fella before but by the sound of things his greatest error was probably not seeing the possible implications of what he was given to copy. Seems like a good bloke.

He did not quote, he STOLE large sections of his Ph.D. thesis and lied about it.

You seem to have a strange point of view on "good blokes".

[Newbie1022]

I'm worried by one thing: Volume is approx. at an all time YTD low. Why? Can this affect the imminent moon launch?

I think we are ok. I can't speak for anybody else and perhaps this isn't even a majority event, but unless people had money sitting on a BTC exchange already, they probably panic bought on Friday realizing they had narrowly missed the interim bottom and probably did so through a service like Coinbase. If they fall into that camp -- like myself -- then they are waiting for their purchase to confirm before making another. I, my friends, am ready to buy (albeit I expect a short-term liquidation event on Thursday as people take profits).

So, my situation is that I bought at $585... I was hoping, kind of foolishly, for a lower low than 550 due to auction panic, but I felt the honest price was about 660 to 750 (the price was around 666 before the auction was announced, I expected the coins would go around market price and maybe a bit higher if the bidders were tactful, and the rest of the news was very positive).

Remember, the auction was a big publicity moment which means new blood and new blood takes a while longer to navigate through the process. This is my working hypothesis for the moment... it may be way wrong... we'll see.

[Spaceman_Spiff]

4) Let others do the hard work for you.

Wealthy people don't usually get wealthy by working for themselves. They let others do the hard work for them. And no this isn't taking advantage of people, it's called giving someone else a job.

I don't know if you're being sarcastic or serious, but I'll give you the benefit of the doubt that you are serious. I have witnessed this kind of sincere immaturity here before.

That is exactly what wealthy people are doing - working for themselves, not for others. Running a company and offering jobs is hard work, not a privileged status to leech on others. If you run a company, then you have to have the broadest understanding of the entire company and it's business. To have any authority in the eyes of the employees, you have to know what you're doing. You have to work harder and know more then those under you, to have the respect needed for solid structural development. When companies are created by fools, who think that being an entrepreneur equals free-loading, then it's no surprise that these companies fail. These attempts to start a company, are made by those who are lazy and dumb, but they would really like to play the role of "the boss". People like that only get anywhere, when they do things like traffic drugs or win the lottery.

Well I'll be damned, I finally agree with one of your posts.

[derpinheimer]

Dumpers because: http://www.followthecoin.com/tim-draper-press-conference-winning-silk-road-auction/

?

[wachtwoord]

Dumpers because: http://www.followthecoin.com/tim-draper-press-conference-winning-silk-road-auction/

?

Why would that make you dump?

[aminorex]

No.

Wager 1 BTC on each, at even odds?  Nah, 20 years is too long to lockup even 1 BTC at 1:1, regardless of your edge.  Now, $1000 on the other hand....

No interest? PM if you get interested.

How about you keep it on topic and talk about bitcoin price movements.

Okay. (But that will earn no less antipathy.)  Price is going down for 4 hours probably.  Then it is likely to reverse.  

If it starts to appear as though publishing the monkeys opinions plays a causal role in their reinforcement, I'll have to stop, or the monkey will get uppity.


Anyhow, at least 2.5 hours more down-side expected.

[derpinheimer]

Dumpers because: http://www.followthecoin.com/tim-draper-press-conference-winning-silk-road-auction/

?

Why would that make you dump?

Havent a clue, but it seems to be the reason, does it not?

[podyx]

Anyone interested to bet that we will never see sub $640 again??

50:1 odds

[wachtwoord]

No.

Wager 1 BTC on each, at even odds?  Nah, 20 years is too long to lockup even 1 BTC at 1:1, regardless of your edge.  Now, $1000 on the other hand....

No interest? PM if you get interested.

How about you keep it on topic and talk about bitcoin price movements.

Okay. (But that will earn no less antipathy.)  Price is going down for 4 hours probably.  Then it is likely to reverse.  

If it starts to appear as though publishing the monkeys opinions plays a causal role in their reinforcement, I'll have to stop, or the monkey will get uppity.


Anyhow, at least 2.5 hours more down-side expected.

What's in 2.5 hours?

[aminorex]

Well I'll be damned, I finally agree with one of your posts.

He's like Jorge, only worse.  Pure unmitigated irrationality doesn't deceive anyone.  You have to appeal to all the biases, and create a veneer of plausibility.

[ChartBuddy]

Explanation

[wachtwoord]

Anyone interested to bet that we will never see sub $640 again??

50:1 odds

What amounts are we talking? Are you backing never $640 again and are you laying 50:1? (as in my 1 BTC to your 50?). This might be interesting then.

[aminorex]

Anyone interested to bet that we will never see sub $640 again??

50:1 odds

In my favor?  I'll take that wager.  I don't think you're serious - or else my interpretation of your words is utterly daft.

[vuduchyld]

Anyone interested to bet that we will never see sub $640 again??

50:1 odds

Which side of that are you taking?  I think we will see sub 640.