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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26406337 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
X7
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September 05, 2014, 03:50:35 PM

wait what... BTC still under 500? brb.. 

grappa_barricata
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September 05, 2014, 03:55:31 PM

484.

BitChick
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September 05, 2014, 03:56:38 PM

For anyone that has not seen the video posted by Jorge, of Jorge playing with his balls please view here
http://youtu.be/rFEGFEGMDBc  Grin

I also posted a lesson on how to double your money without leaving your desk; but that does not translate well into English, unfortunately (and it was done well before I heard of bitcoin, which has made it obsolete):    https://www.youtube.com/watch?v=X9i6XwhH_jo

Really really splendid stuff....   I can see how this fits with the other highlights of your career.

"Jorge was a tireless worker and would spend long hours at the lab. Rumor
had it that he lived on a clock that had 26-hour days, so he would precess and
shift his sleeping time from day to day. As far as I know he spent ten years in
California without ever learning how to drive, and his wife Rumiko would come
to pick him up. I have many memories of coming to the office in the morning to
find Rumiko waiting for Jorge to come down and go home.
Jorge combines deep mathematical intuition with remarkable programming
skills – many people have one or the other of these capabilities, but the combina-
tion is rare. Even more rare is another aspect of Jorge’s intellect. Jorge is able,
better than anyone I have ever known, to put clean mathematical structure on an
amorphous set of vague ideas and produce elegant and informative mathematical
abstractions that allow insightful formal reasoning on a problem. I cannot count
the number of times that I walked away from a technical conversation with Jorge
thinking that now, finally, I understand the essence of the problem we’ve been
discussing. Jorge likes both his ideas and his programs (and yes, not to forget,
his LATEX macros) to be clean, well organized, and surgically appropriate to the
task at hand. In this respect, and in balance overall, I think Jorge was more of a
teacher to me rather than the other way around.
I want to close by mentioning another characteristic of Jorge, his remarkable
diversity and versatility, as demonstrated over a long and distinguished scientific
career. Jorge’s curiosity is not limited to any one special topic. Besides computer
graphics and computational geometry, he has made many other contributions to
interval arithmetic, splines, image search, the reconstruction or archaeological
artifacts, elasticity, and even the Voynich manuscript analysis.
So happy birthday, Jorge, and my best wishes for many more productive years
to come. Even after all these years, I still miss having you around – and in that
vein let me publically remind you that you promised to come spend a sabbatical
at Stanford Smiley"

are you tenured prof?  

It seems bating Bitcoin followers and folding notes and playing with balls seem ... a little.....  well.... pointless.

Like I said.. moments ago.. it seems to me you could put yourself to much greater use... to humanity as a whole ... by maybe fixing problems that you see
rather than wasting time here... unless you simply enojoy wasting time nowadays... or feel that you are not able.

Anyways...  as you were

The way I see it, he's contradicting a solid and undoubted argument by presenting a burning straw man paradigm all the time. By no means (if what I just read is true) he doesn't understand bitcoin. I could bet he owns some and he probably has messed with it's code and principles quite a lot. He surely adds noise but also adds value to this forum and -when not trolling- presents quite solid thoughts that give food for thought...

Pity he doesn't do this more often. Maybe he's on a payroll to troll here... such waste.

Interesting morning read.  We can all agree that Jorge adds some "flavor" to the the forum.

My two cents here.  Being a highly respected and accomplished person in any field can often cause a person to have a inflated sense of knowledge in all areas.  If everyone around you is in awe of what you know and who you are and respects you for that, everything is filtered through that lens.  But one cannot truly be an expert in everything.  I think we each have our narrow areas of interest and we can become experts in a few of them.  For an example, I had a professor that was brilliant in botany.  Many of the students would try to trick him by bringing rare plants to him.  One was a plant only found on Mt. Kilimanjaro.  He saw the plant and instantly said, "So when were you on Mt. Kilimanjaro?"  He also named a few plants that had not been discovered.  As brilliant as he was, he had his narrow areas of expertise and was at least humble enough to realize his limitations.  With Jorge though he appears to be a brilliant mind and enjoys math and programming, which would make one think he would be an expert in cryptocurrencies.  However, cryptocurrency is more than just math and programming.  It encompasses economics, marketing, payment systems and various other things.  As an expert he could give his opinions on the fundamental design of Bitcoin based on his knowledge of math and computers, but to give an opinion as to value is something that perhaps is beyond his knowledge base.  And I say all of this as an expert in none of the above.    Cheesy
ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ


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September 05, 2014, 03:59:14 PM


Explanation
X7
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September 05, 2014, 04:00:53 PM

X7
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September 05, 2014, 04:01:45 PM

adamstgBit
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September 05, 2014, 04:04:38 PM



its up like 300% instead of 800%
empowering
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September 05, 2014, 04:06:36 PM



think I might wait for the next one...
Torque
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September 05, 2014, 04:09:42 PM

I am going to laugh my ass off when one day in the future, just out of the blue, none of us know when, the whales suddenly reappear and start buying up bitcoin like crazy.

It's inevitable, and it will baffle everyone.  We'll see a hundred threads pop up overnight that say "So what's happening??  What's going on?? Why the price shooting up like crazy???"  And no one will know why, as there will be no news.  But it will just keep on going up.  Then bam, vertical again.

And THEN some major awesome news will come out 4-6 weeks after the price started going up, appearing right in the middle of the peak, and in hindsight everyone will go, "Oh, so THAT'S why!"

The sheep are always the last to know; the insiders are always the first.    Wink
X7
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September 05, 2014, 04:10:07 PM


Yeah, picked the meme to bring some reality... If I invested 50k in a business that had a 300% return on year 1...  It would be a good day... lol
falllling
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September 05, 2014, 04:11:06 PM

dead cat bounce is over~

time to drop back to $300
NotLambchop
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September 05, 2014, 04:12:12 PM

...
I'm not disagreeing with you.  My slant on this is the question is not what we believe, but how we act on those beliefs.
Bitcoin, at the outset, rejected centralization.  Individual miners using their spare CPU cycles to mine etc., etc.
That's history.
The real mining is done by megafarms, the remaining small miners point their rigs at megapools.  Some don't even buy gear, just "invest" in "cloud mining."
You gotta admit, already not much of the original decentralisation left.  Miners don't care about the voice that they have, my guess is most wouldn't know how to go about using it.  Empty concept.  They distribute the risks--paying a central entity (pool) to increase the odds of having a steady paycheck.
Bitcoiners invest in "Bitcoin banks" (NeoBee), no matter how absurd such a thing is.
Bitcoiners ape *everything that we once wanted to leave behind*, including centralization.

Christianity, and other utopias like Communism, are also all wonderful blueprints to live by--at the conceptual level.  The problem is, just like Bitcoin, they tend to get corrupted, rot on exposure to IRL, and, eventually, become irrelevant.  Tell me you can't already see this happening with Bitcoin Undecided
[/grumbling]

TL;DR:  All the signs are pointing to Bitcoin becoming progressively more centralized and, therefore, irrelevant.  Sad but true.

Important word=  Competition , in this case between miners/new hardware operating on the network....

but also from .......

Other Cryptocurrency....

If Bitcoin for whatever reason falls out of favour, then the market can decide if it is now irrelevant, or not... if it is, and the free market is allowed to operate, then users and maybe miners, are free to decide and move on.... as long as the free market is allowed to make the decision, and there is no enforcement then either centralisation, or maybe more accurate specialisation can do its worse... OR Bitcoin, and the network will solve the problem (free miners dished out with  aount of BTC, dual use technologies, or even a hardfork to render farms useless idk but not the point)

Point is if the free market is allowed to operate, then consumers/users get to decide, and then the market will do , what the market wil do.. and with it the Bitcoin price.

Free market is a tautology.  It is not Fairy Godmother.  Free market doesn't magically make good stuff succeed and bad stuff fail.
Unless you believe in the Lizard People, free market is responsible* for every economic system on Earth, including those with central planning, exorbitant taxation and draconian regulations.

TL;DR:  Saying "free market will decide" is saying "whatever will be will be"--NOT interesting.

*If only by failing to prevent.
macsga
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Strange, yet attractive.


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September 05, 2014, 04:14:29 PM

I miss the rocket trains to the moon...  Undecided
falllling
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September 05, 2014, 04:16:30 PM

I miss the rocket trains to the moon...  Undecided

they are long gone, not any more! time to wake up!
grappa_barricata
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September 05, 2014, 04:16:53 PM

Free market is a tautology.  It is not Fairy Godmother.  Free market doesn't magically make good stuff succeed and bad stuff fail.
Unless you believe in the Lizard People, free market is responsible* for every economic system on Earth, including those with central planning, exorbitant taxation and draconian regulations.

TL;DR:  Saying "free market will decide" is saying "whatever will be will be"--NOT interesting.

*If only by failing to prevent.

No, the Fairy Godmother of the Lizard People is expecting that a policy-maker can take the right decision to influence a complex system, when it is impossible even to analyze it let alone anticipate the implications of the changes.

We have yet to experience a 'free market world'.
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September 05, 2014, 04:17:55 PM

dead cat bounce is over~

time to drop back to $300

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September 05, 2014, 04:22:18 PM

dead cat bounce is over~

time to drop back to $300



the truth which should not be named: "bitcoin is going to nowhere but down, ponzi pyramid schame game over bubble burst"
NotLambchop
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September 05, 2014, 04:23:30 PM

Your bear friend is looking for you...

X7
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September 05, 2014, 04:24:07 PM

Obvious troll is obvious
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September 05, 2014, 04:30:58 PM

Shhh...  No more tears.
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