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

[Room101]

So much good news, so little movement.

What are the odds that .gov hacked Mt.Gox, and they have half a million BTC to keep suppressing the price. Maybe with a few massive dumps to come to really shake everyone's faith in what is rapidly becoming a very real threat to the dollar hegemony?

This is a country that invaded Iraq when it started talking about selling oil for Euro's, destroyed Gadahfi when he tried to set up the gold backed currency to trade oil in, cuts Iran out of swift for not following the petro dollar.

Note i am not arguing that BTC will replace the dollar. Just that the almighty dollar is being attacted from all sides, and it seems the USA is getting a tad desperate in its attempts to consolidate it. Any threat to the reserve status of the dollar is akin to war for the USA, for it would do far more damage, possibly even destroy the currency as trillions of overseas held dollars flooded back into the states, unleashing a tsunami of inflation.

From a self preservation perspective, I doubt there is much it would not do.

[Raystonn]

Here is a weekly log chart of BTC/USD from https://bitcoinwisdom.com/markets/bitstamp/btcusd.


Weekly MACD is green.  We're bouncing up off the long term exponential trend line.  As long as this line holds, it's a great time to be long.

[Krabby]

We're going to run out of possible good news soon...

[rabsie]

http://www.reddit.com/r/Bitcoin/comments/2a9tlw/new_bitcoin_investment_fund_launches_in_jersey/

[adamstgBit]

We're going to run out of possible good news soon...

lol always the pessimist

[JorgeStolfi]

Looks like Andreas is done with the Bitcoin Foundation. Good. Screw the Bitcoin Foundation.

"I can no longer have even the smallest association with the Bitcoin Foundation, because of the complete lack of transparency" https://twitter.com/aantonop/status/486926129409052672

[ChartBuddy]

Explanation

[adamstgBit]

[FNG]

/r/bitcoin

[Adrian-x]

Looks like Andreas is done with the Bitcoin Foundation. Good. Screw the Bitcoin Foundation.

"I can no longer have even the smallest association with the Bitcoin Foundation, because of the complete lack of transparency" https://twitter.com/aantonop/status/486926129409052672

Jorge, can't argue there are some rotten eggs who are riding this bitcoin wave, and 2 of them are on the board of the Bitcoin Foundation, so no surprise people are starting to avoid it, but it doesn't undermine the impact this tech is going to have on the world.

[JorgeStolfi]

Jorge, can't argue there are some rotten eggs who are riding this bitcoin wave, and 2 of them are on the board of the Bitcoin Foundation, so no surprise people are starting to avoid it, but it doesn't undermine the impact this tech is going to have on the world.

I just posted the news. I think it is good for Andreas, bad for TBF, not directly relevant to bitcoin.  BUT the RealCoin initiative can only be bad for bitcoin; how much, who knows. 

[adamstgBit]

[Adrian-x]

I just posted the news. I think it is good for Andreas, bad for TBF, not directly relevant to bitcoin.  BUT the RealCoin initiative can only be bad for bitcoin; how much, who knows. 

the RealCoin, initiative, shows up  Brock Pierce (will show him up) as a fraudster, ultimately it will be good for Bitcoin, bad for all those suckers who get ripped off.  

[kodtycoon]

break out to the upside tonight? or am i drawing my lines all wrong?

[Krabby]

break out to the upside tonight? or am i drawing my lines all wrong?

I think we would have seen the breakout already.
BUT WE CAN HOPE

[ChartBuddy]

Explanation

[hyphymikey]

I became a Hero Member today. Prepare for takeoff.

[Newbie1022]

I just posted the news. I think it is good for Andreas, bad for TBF, not directly relevant to bitcoin.  BUT the RealCoin initiative can only be bad for bitcoin; how much, who knows. 

the RealCoin, initiative, shows up  Brock Pierce (will show him up) as a fraudster, ultimately it will be good for Bitcoin, bad for all those suckers who get ripped off.  

RealCoin seems like a joke, but may be problematic in the near term as it will distract funds that would otherwise go to Bitcoin and when it crashes it may make people even more distrusting of cryptos.

Exactly what does RealCoin offer? It is only exchangeable for the U.S. dollar which means that any international transactions still require currency exchange fees and delays. This guy's big, bright f---ing idea is WesternUnion. This is what Warren Buffett should be throwing his hands up and calling Western Union... not Bitcoin.

Also, what would motivate somebody to use this crypto domestically when there is limited market cap for dissolving the funds?

Also, it is moving too quickly to widespread adoption without accumulating market cap through, you guessed it, speculators. They are setting up ATMs and agreements with businesses who will be left with these things on their books until they can exchange them out. When they go to exchange them, because there is a limited market cap, the price will be tremendously distorted. In short, unless their is actually a reserve of dollars/gold/some other asset behind this crypto such that they can offer automatic exchange at some sort of fixed rate this is a complete non-starter. Even if the latter, you'll see fractional reserve activities, a run, and a bust (they'd have to just to make money on the venture and/or they'd have to charge so much in fees that you might as well just use a credit card and avoid the bull----). It strikes me as very stupid. Am I missing something or fundamentally wrong in some appreciable way? (honest question... some of you "old-timers" would know)

[wachtwoord]

I became a Hero Member today. Prepare for takeoff.

Congrats hero!

[adamstgBit]

I became a Hero Member today. Prepare for takeoff.

Congrats hero!

welcome to the club