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

[shmadz]

Are we seriously sitting here debating why we dipped less than 3%. Man I remember when no one even noticed 3% in either direction. Now it's cause for great debate and speculation.

Yeah, because we're basically at a point where it could go either way and people are expecting it to go up. And yet it doesn't. And after some weeks of sideways movement that drop wasn't very pleasant.

I predict it will happen at the 7777th page of this thread

Just for the record, I WAS WRONG.
I'm deeply sorry to you all.

What choo talkin bout?

7777 is a magical pot at the end of a rainbow.

Just when you think you're there, it's just over the next ridge.

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[shmadz]

Adam how about a beer giveaway again? I send you the bits and you post funny pictures with QR codes in them. I'm too drunk/retarded to do that 

Yeah sure, why not? Just throw up an address and some of us will pitch, and we'll have a party.

And screw the price, my deposit is still not showing up at virtex.

As low as possible for as long as possible.

[kurious]

Bugger...  This will not stand!

[kurious]

Bugger...  This REALLY will not stand!

[kurious]

We can't go backwards!!!!  Come on!

[kurious]

Adam - you haven't done a COUNTDOWN in a long time... Rally the troops?

[JorgeStolfi]

[ CHARITABLE CONTRIBUTION TO THE PAGE COUNT ]

A month ago I did a quick count of the first 100 or so entries in the "recent posts" to this forum.  I did the same again today:

   2014-06-21  !   2014-07-25  !
---------------+---------------+
 Posts !     % ! Posts !     % ! Category                       
-------+-------+-------+-------+--------------------------------
     8 |   6.7 |    14 |  12.6 | Off-topic                      
     4 |   3.3 |     7 |   6.3 | Gambling                       
    18 |  15.0 |    12 |  10.8 | Bitcoin mining                 
    37 |  30.8 |    22 |  19.8 | Bitcoin non-mining             
    53 |  44.2 |    56 |  50.5 | Altcoins (including mining)    
-------+-------+-------+-------+--------------------------------
   120 | 100.0 |   111 | 100.0 | TOTAL         

The numbers are not comparable however because the samples were taken at different hours, and that makes a lot of difference, it seems. 

Today's sample was taken when China was asleep, so there were only a couple of entries in Chinese.  The June 21 sample was taken a few hours later, during working hours in China, and had 26 posts in Chinese.

In fact,  more than half of the June posts about "Bitcoin non-mining" (19 of 37) were in Chinese; of the 22 July posts, none were.  So posts about bitcoin proper, excluding mining and posts from China, actually increased: from 18/120 (15%) to 22/111 (20%).

On the other hand, there were no posts from China about "Bitcoin mining" in either sample, so those did decrease from 15% to 11%. 

As for "Altcoins (including mning)", excluding the Chinese posts there were 48/120 (40.0%) in June, 53/111 (47.7%) in July.

Next time I should try to spread the sample evenly over a 24 h period.

[roslinpl]

Explanation

That is a good begging of the weekend.

Keep the price ~$600 over those two days and next week will be very promising.

[kurious]

Jorge, for once - I salute you.

[hyphymikey]

Jorge, you should look more into China.

[hyphymikey]

If you were the one that stole over 600 000 BTC from Mt.Gox - how fast and when would you try to "change" them for $US ??  But, be careful, don't dump everything at once, you wouldn't want to crash the price too much.

Someone must be doing it since January... Is he done yet?  (Assuming that the hacker(s) were male(s))

I thought the majority of the coins were taken over a period of years, so I would assume they would have sold the majority by now.

[kurious]

What's up with this thread - or is everyone off worrying about the correct XMR:BTC investment ratio to hodl?

(Disclosure: Am up to about 50:1 but seems I am a pussy compared to the hardcore crowd). 

Even Aminorex seems to post on Poloniex trollbox more than here these days. Sadly, as I like his posts here (and have to admire his sheer eloquence)

Off-topic, too... Risto's Monero Economics thread here is actually interesting - usual Risto stuff (pyramid of holders, predictions of riches etc...ego) but he's never gone off on an alt coin like this before.

LTC now looking pretty sick - seems 'No.1 alt' crown is looking like passing on.

Sea change...?

[ChartBuddy]

Explanation

[JorgeStolfi]

If you were the one that stole over 600 000 BTC from Mt.Gox - how fast and when would you try to "change" them for $US ??  But, be careful, don't dump everything at once, you wouldn't want to crash the price too much.
Someone must be doing it since January... Is he done yet?  (Assuming that the hacker(s) were male(s))

I would first try hard to erase my tracks -- by laundering tumbling, etc -- as much as possible.  Maybe taking several months, thousands of addresses and thousands of blockchain transactions per day.

[derpinheimer]

If you were the one that stole over 600 000 BTC from Mt.Gox - how fast and when would you try to "change" them for $US ??  But, be careful, don't dump everything at once, you wouldn't want to crash the price too much.

Someone must be doing it since January... Is he done yet?  (Assuming that the hacker(s) were male(s))

Its absurd to think 600kbtc were already dumped on the market. It would take a lot longer for that to be absorbed. I'd say max 10k were sold. (IF ANY)

[Erdogan]

I think Ecuador’s central bank might be coming out with an altcoin soon, they legislated the monopolization of "electronic currency"

EcuadorCoin, A good pump and dump to watch for 

read all about it!

They plan to develop the thing by themselves - I predict a glorious IT project failure.

(If they can make the software and start the coin, I predict a failure of demand for the coin).

[ChartBuddy]

Explanation

[Erdogan]

Some people are eager to rid themselves of the supernode status.

[JorgeStolfi]

I think Ecuador’s central bank might be coming out with an altcoin soon, they legislated the monopolization of "electronic currency"

EcuadorCoin, A good pump and dump to watch for  

read all about it!

They plan to develop the thing by themselves - I predict a glorious IT project failure.

(If they can make the software and start the coin, I predict a failure of demand for the coin).

From what I uderstood of those news, they won't even think of competing with bitcoin or other cryptocoins.  And vice-versa, there will be no space for cryptos in Ecuador.  And unless they really botch it up, people will use their coin because it will be cheaper than other payment methods AND much faster than bitcoin payments.

The only purpose of the blockchain, miner network, and associated cryptocoin paraphernalia is to get rid of the bank as trusted intermediary and manager of the account ledger.  Since their coin will be managed and intermediated by their federal bank, the only part of the cryptocoin idea that is of any use to them is the public-key signing of the "digital checks", with offline generation of private and public keys.  

However it is quite possible that the Ecuador law was pushed by some company who expects to be the monopolistic manager of that coin.  That would be a move very much in the style of Brock Pierce.  

Indeed, since 2000 Ecuador's official currency is the US dollar.  So the "Ecuadorcoin" may well be a pilot implementation of Pierce's Realcoin...  

[shmadz]

I have little faith that Ecuador coin would do any better than Aurora coin

 Now, if Ecuador were to establish semi – anonymous autonomous zones on it's shores . Then we might have something to talk about ...