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

[gizmoh]

Ok, here's a prediction.
BTC will steadily start to rise on the next week. Volume will rise steeply and the price will slowly follow. It will rise till the start of January 2015 and will top around 3000-4000$ per coin.

Mervyn_Pumpkinhead is sadistic, wants maximum pain for bulls.. 

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[Room101]

Personally i hope BTC stays where it is for another 2 months, then goes bananas

[ChartBuddy]

Explanation

[EFS]

Personally i hope BTC stays where it is for another 2 months, then goes bananas

I wish the similar pattern. I don't feel I have enough BTC for next bubble.

[lyth0s]

Personally i hope BTC stays where it is for another 2 months, then goes bananas

I wish the similar pattern. I don't feel I have enough BTC for next bubble.

Are you so confident though that bitcoin will continue to increase in value/price? The price over the past few months makes me have doubts (especially with the downtrend), but I'd love to hear your thoughts on why the btc price will increase.

[EFS]

Are you so confident though that bitcoin will continue to increase in value/price? The price over the past few months makes me have doubts (especially with the downtrend), but I'd love to hear your thoughts on why the btc price will increase.

Everyone in BitcoinTalk know Bitcoin's price will only rise in long term for obvious (world adoption, limited supply, new tech, S-curve) reasons.

[jl2012]

I know what "fungibility" means, But note the boldfaces in my post.  That is exactly what I wrote.  The court ruled that that physical  banknote was not the victim's property any more.  But of course the 20£ (as abstract amount) that the thief stole remained the victim's property, and the government would take 20£ from the thief and return then to the victim, if they were to identify him and found that he had that much money in his possession or in his bank account.

EDIT: quote markup

Same principle applies to a bitcoin theft. A bitcoin thief, if caught, will have his property gets seized and returned to the victim.

There is just no guarantee that the police would catch a banknote thief or a bitcoin thief. However, this is a matter of the police's competency, not whether bitcoin is better or worse than banknote.

[ChartBuddy]

Explanation

[grappa_barricata]

[razorramon]

I know what "fungibility" means, But note the boldfaces in my post.  That is exactly what I wrote.  The court ruled that that physical  banknote was not the victim's property any more.  But of course the 20£ (as abstract amount) that the thief stole remained the victim's property, and the government would take 20£ from the thief and return then to the victim, if they were to identify him and found that he had that much money in his possession or in his bank account.

EDIT: quote markup

Same principle applies to a bitcoin theft. A bitcoin thief, if caught, will have his property gets seized and returned to the victim.

There is just no guarantee that the police would catch a banknote thief or a bitcoin thief. However, this is a matter of the police's competency, not whether bitcoin is better or worse than banknote.

whatever got stolen from me(money, mobile phones, smaller items that have value...) i never got anything back...if anything i had to do a lot of work because something got stolen from me (go to the police, make a protocol, check insurance...)...once i even caught one of the  (3) thieves and called the police...still got nothing back...

[JorgeStolfi]

Personally i hope BTC stays where it is for another 2 months, then goes bananas

Are you sure that that's what you want?



PS. When will @theymos fix the image truncation bug?  

[tarmi]

Personally i hope BTC stays where it is for another 2 months, then goes bananas

PS. When will @theymos fix the image truncation bug? 

I think that truncation bug requires another round of donations.

[mrmousebtc]

Are you so confident though that bitcoin will continue to increase in value/price? The price over the past few months makes me have doubts (especially with the downtrend), but I'd love to hear your thoughts on why the btc price will increase.

Everyone in BitcoinTalk know Bitcoin's price will only rise in long term for obvious (world adoption, limited supply, new tech, S-curve) reasons.

I think so but there are many users who don't, some are really sure that bitcoin will fail.

[ChartBuddy]

Explanation

[xyzzy099]

But the verdict obviously did not say that stolen cash ceases to be the property of the victim just because "cash is fungible".  Police routinely seize money from cash thieves and return it to the victims.  If the thief exchanged the cash for other valuables, without the merchant's knowledge, the cash then is "clean", but the valuables are still seized, as being conceptually the victim's property.

I didn't suggest that it said that.  I am emphasizing fungibility specifically because most (maybe all) schemes I have seen that would add to bitcoin some kind of 'consumer protection' against theft would also make bitcoin non-fungibile, and useless as a currency.  Additionally, NO currency that I am aware of has built-in consumer protections, and very likely cannot have such without giving up fungibility, and therefore utility as a currency - and that is the specific issue dealt with by the decision in this case.

However, catching a bitcoin thief will be quite hard in general.  The transaction that stole your bitcoins may have been issued from your own computer, automatically, by some self-erasing malware, while the hacker was not even online.  You can point to the stolen coins in the blockchain, but the thief may leave the coins there for years, and no one can take them from him. Or he can hack into an old PC in Mongolia, and from there tumble the coins so thoroughly that it will be practically impossible to trace them to his person when he finally spends them.

This is true, but I don't think the bitcoin theft situation is in any meaningful way different than theft of cash in the form of any currency.  Do you really think it would be easier to get your money back from some random thief that steals your wallet?  I don't see the huge risk associated with bitcoin that doesn't exist with any other kind of cash, and that seems to be your thesis.  I'm sure you will correct me if I am misinterpreting you.

AFAIK no theft of bitcoins by outside hackers has been solved, by the police or anyone else.  In several cases of insider theft, the culprit was identified with high probability, but I don't know of any case where the evidence was sufficient to get a conviction.

As far as I know, this is true also - but bitcoin is still very new.  I'm sure that you can find similar cases where cash money was stolen, and although there was a suspect who's guilt in the theft was deemed highly likely, sufficient legal proof for prosecution/recovery was not found.

[ChartBuddy]

Explanation

[DutchTrades]

Chart looks very interesting.
The 495 pump was just a test

[falllling]

Chart looks very interesting.
The 495 pump was just a test

not a test but a dead cat bounce since the last one to $530, now top bubble could be $495, guess what's the next top bubble? may be $400?

[niothor]

Chart looks very interesting.
The 495 pump was just a test

not a test but a dead cat bounce since the last one to $530, now top bubble could be $495, guess what's the next top bubble? may be $400?

You have to agree that this cat has been bouncing for 99+ lives for almost a month. More bouncing like this  and we can claim a patent for a perpetuum mobile.

[falllling]

Chart looks very interesting.
The 495 pump was just a test

not a test but a dead cat bounce since the last one to $530, now top bubble could be $495, guess what's the next top bubble? may be $400?

You have to agree that this cat has been bouncing for 99+ lives for almost a month. More bouncing like this  and we can claim a patent for a perpetuum mobile.

yes, it has been bouncing for 3-5 times recently, each time lower than the previous one

soon you will have a bounce to $1 from $0.5