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

[theonewhowaskazu]

Right now we are at the point of a rocket launch when the thrusters are firing, but the rocket is still at the point of inflection where it is not yet moving upwards yet

$5 doesn't count as upwards?

[inca]

If we kick off a rally today, I'm going to feel pretty smug with myself. I just opened one of my forecasting spreadsheets and noted that I'd arbitrarily picked today as the starting point for the next bull run. No I don't have any proof or logic, just me and my obsession with plotting things in spreadsheets.

Tomorrow 

What is the lag for the general public to get on board the train? They have to signup with a company like coinbase deposit funds.  We may get a price which is more responsive to the news flow of major company adoption when wallet providers like circle come fully online.

I think the latent accumulation phase is drawing to an end. Bitcoin utility as a currency is roaring upwards far faster than consumer adoption. The MSM will do their work explaining that bitcoin is commodity money and scarce and coupled with ETF the next 10x bubble should hopefully arrive before xmas

[wachtwoord]

Dell starts accepting Bitcoin  

http://en.community.dell.com/dell-blogs/direct2dell/b/direct2dell/archive/2014/07/18/we-re-now-accepting-bitcoin-on-dell-com.aspx

lol OH they really did start accepting Bitcoin

No not Dell I wish they'd go bankrupt. Mr Dell stole my shares in Dell last year

[theonewhowaskazu]

Dell starts accepting Bitcoin  

http://en.community.dell.com/dell-blogs/direct2dell/b/direct2dell/archive/2014/07/18/we-re-now-accepting-bitcoin-on-dell-com.aspx

lol OH they really did start accepting Bitcoin

No not Dell I wish they'd go bankrupt. Mr Dell stole my shares in Dell last year

Lol he didn't steal he bought them

[wachtwoord]

Dell starts accepting Bitcoin  

http://en.community.dell.com/dell-blogs/direct2dell/b/direct2dell/archive/2014/07/18/we-re-now-accepting-bitcoin-on-dell-com.aspx

lol OH they really did start accepting Bitcoin

No not Dell I wish they'd go bankrupt. Mr Dell stole my shares in Dell last year

Lol he didn't steal he bought them

he stole, I didn't want to sell at that low ball price.

It was similar to me kicking you out of your house, handing you a $5 note and claiming I bought it. He's a fucking lowlife thief. I wouldn't piss on him if he was on fire.

[ChartBuddy]

Explanation

[Chalkbot]

Dell starts accepting Bitcoin  

http://en.community.dell.com/dell-blogs/direct2dell/b/direct2dell/archive/2014/07/18/we-re-now-accepting-bitcoin-on-dell-com.aspx

lol OH they really did start accepting Bitcoin

No not Dell I wish they'd go bankrupt. Mr Dell stole my shares in Dell last year

Lol he didn't steal he bought them

I'm going to come take your house and car, BUT!, don't worry, I will be depositing a fair amount of beads, slap bracelets, and assorted spices into an account in your name.

[wingsfan23]

To everyone who sold, hoping to buy back in at a lower price:

You feel that? That is the fear of missing out on the biggest wealth redistribution ever. You know this feeling, you've been here before. You've panic sold and re-bought in at a higher price several times before. You keep waiting for lower prices, but deep down, you know they aren't coming. You look back at the lower prices, and realized you made a huge mistake. You keep waiting, thinking you are an expert trader that will just wait out the rise. It continues rising, growing until your ego can't hold you back anymore. You panic buy. Welcome to bitcoin.

[aminorex]

Where's that lad who's got the magical monkey gone?

gone quiet.  the monkey has no real news.  he's still flip-flopping on the daily, bullish on lower frequency charts.  he flipped to bullish on the daily today.  One of these days he'll be right.

[blatchcorn]

I came here to post this and was disappointed to not see the original:

[Dragonkiller]

630 come on...

[BTCfan1]

[aminorex]

I came here to post this and was disappointed to not see the original:

ron paul feeding his hands into a laser cutter?

[Sandia]

To everyone who sold, hoping to buy back in at a lower price:

You feel that? That is the fear of missing out on the biggest wealth redistribution ever. You know this feeling, you've been here before. You've panic sold and re-bought in at a higher price several times before. You keep waiting for lower prices, but deep down, you know they aren't coming. You look back at the lower prices, and realized you made a huge mistake. You keep waiting, thinking you are an expert trader that will just wait out the rise. It continues rising, growing until your ego can't hold you back anymore. You panic buy. Welcome to bitcoin.

Post of the day.

[abercrombie]

After Dish Network, Newegg, and now Dell, I've come to the conclusion that merchant adoption in itself should have no long term effect on price.  Especially when it's being instantly converted back to FIAT. Since BTC can be split 8 decimal places, there should never be a shortage of supply when used as a transport protocol.

JMHO.

Short of a nation having a financial crisis, I think we need some hedge fund money that would actually keep BTC, and thus decrease circulation.

[Moria843]

After Dish Network, Newegg, and now Dell, I've come to the conclusion that merchant adoption in itself should have no long term effect on price.  Especially when it's being instantly converted back to FIAT. Since BTC can be split 8 decimal places, there should never be a shortage of supply when used as a transport protocol.

JMHO.

Short of a nation having a financial crisis, I think we need some hedge fund money that would actually keep BTC, and thus decrease circulation.

Adoption may not drive price up directly. But as many have believed, the publicity that makes more people look into it and realize how great it is, is finally going to drive it up.

[gentlemand]

After Dish Network, Newegg, and now Dell, I've come to the conclusion that merchant adoption in itself should have no long term effect on price.

I don't think there's been a case of merchant adoption having an effect on the immediate price.

Long term is where it's at. Every merchant adds legitimacy. More and more of them will follow Overstock's investigations into a closed economy.

The average Joe who vaguely knew of it as drug money a couple of years ago will look a little closer with each new merchant. Perhaps there'll be an option to be paid in BTC by quite a few of these companies too.

It's a process of seepage rather than an explosion. Eventually it'll pay off enormously. Without it, it's going to whimper rather than bang.  

[aminorex]

merchant adoption in itself should have no long term effect on price.  

That would be deeply erroneous.  I hope you don't harm yourself too severely with that.

Especially when it's being instantly converted back to FIAT.

This is a valid point, but phrased as though it were a verity, when in fact it is a hypothetical.  Increasing velocity means less supply is required to maintain equilibrium.  But we know that in fact the velocity is such that the mean holding time is more than 2 months.  Whether Dell flips is irrelevant.  What matters is the mean holding time.  I don't care if the holder is a merchant, a prole, or an exchange.  It does not affect the value of the currency.

Since BTC can be split 8 decimal places, there should never be a shortage of supply when used as a transport protocol.

This is absolutely true.  You seem to draw exactly the wrong conclusion.  It means that increasing price does not reduce utility.  But increasing utility does increase price, on the other hand.  And well-understood stored utility is easier to hold longer, and in larger quantity.  Merchant acceptance increases the common understanding of utility.

[edwardspitz]

After Dish Network, Newegg, and now Dell, I've come to the conclusion that merchant adoption in itself should have no long term effect on price.

You can also add Grooveshark to the list. Grooveshark is not as big, but it might help draw attention to bitcoin from the "hip" crowd. Please vote for Spotify bitcoin payment suggestion here.

[Adrian-x]

Dell.  Gosh.  Whatever else can be said of Coinbase, they're certainly helping to push adoption. 

This is going to go nuts, every time I see Bitcoin enter bubble territory I here don’t cash out just spend, if the next bubble happened with in my lifetime, a lot of business is going to go to those companies accepting Bitcoin, and after that it’s going to explode.