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

[ChartBuddy]

Explanation

[Hiro_Y3k]

Patience.

[adamstgBit]

apple pay... is going to flop.

I can't even use it, because its for US only

I can't use receive 1$ payments because it will cost 5$ in fee to do so

I can't use it to send money to africa because ...well idk why not...

I can't use it as a hedged its USD's

I'm sure the user interface will literally be 1 button "BUY NOW!", and this is very wow, but i dont care...

I can't believe i feel compelled to state such obviousness...

[nioc]

Sorry I have not been following this thread of late.  To all those looking to go to the Moon, the New Horizons spacecraft is due to reach Pluto on July 14, 2015.  That is in 307 days 7 hrs and 38 min.  It was launched in 2006 and I have been following it for 5 years.  

So have patience it will come.  Then again I hear that btc is a tourist trap.  

[derpinheimer]

apple pay... is going to flop.

I can't even use it, because its for US only

I can't use receive 1$ payments because it will cost 5$ in fee to do so

I can't use it to send money to africa because ...well idk why not...

I can't use it as a hedged its USD's

I'm sure the user interface will literally be 1 button "BUY NOW!", and this is very wow, but i dont care...

I can't believe i feel compelled to state such obviousness...

Since I'm lazy, how long do transactions take with bitcoin? 7 mins or something for the recommended # confirmations IIRC; so.. can this ever get faster or slower? I think we'd all agree thats a bit slower than it should be.

Other than that Bitcoin is incredible as a payment system.

[adamstgBit]

apple pay... is going to flop.

I can't even use it, because its for US only

I can't use receive 1$ payments because it will cost 5$ in fee to do so

I can't use it to send money to africa because ...well idk why not...

I can't use it as a hedged its USD's

I'm sure the user interface will literally be 1 button "BUY NOW!", and this is very wow, but i dont care...

I can't believe i feel compelled to state such obviousness...

Since I'm lazy, how long do transactions take with bitcoin? 7 mins or something for the recommended # confirmations IIRC; so.. can this ever get faster or slower? I think we'd all agree thats a bit slower than it should be.

Other than that Bitcoin is incredible as a payment system.

do i have to send you a beer?

its instant!

[Raystonn]

The network targets 10 minutes for one confirmation.  But it's usually less than that.  For small transactions you don't need it anyway.  Nobody is going to spend the mining resources trying to double spend a small transaction.  They'd lose money.  So for transactions that cost less than the average cost to mine a block, it's safe to go with zero confirmations.

[adamstgBit]

double spend your coin on a big dollar deal i dare you.

[Raystonn]

double spend your coin on a big dollar deal i dare you.

That one happens all the time.  The local mom and pop shops in my city are now checking every bill for counterfeit.  Apparently there's a group passing off fake $10 bills now all over the place.  If they don't check the bills, the bank will reject them on deposit and they will be out the money.  Bitcoin fixes this problem.

[Brewins]

The network targets 10 minutes for one confirmation.  But it's usually less than that.  For small transactions you don't need it anyway.  Nobody is going to spend the mining resources trying to double spend a small transaction.  They'd lose money.  So for transactions that cost less than the average cost to mine a block, it's safe to go with zero confirmations.

One could launch a transaction that will forever be at non-confirmed status, so no need to mine a block.
How much would it cost?

[Raystonn]

How would you do that?  If the transaction is submitted to the network it will eventually be confirmed unless you double spend it before someone in the network mines that block.

[adamstgBit]

The network targets 10 minutes for one confirmation.  But it's usually less than that.  For small transactions you don't need it anyway.  Nobody is going to spend the mining resources trying to double spend a small transaction.  They'd lose money.  So for transactions that cost less than the average cost to mine a block, it's safe to go with zero confirmations.

One could launch a transaction that will forever be at non-confirmed status, so no need to mine a block.
How much would it cost?

the blockchain will instantly show ( double spend ) too...

even I thought up of a trick to make even 0 confirmations TX nearly 100% safe in 10 seconds no matter what.

these minor things are going to get solved, in an elegant way when the time comes.

just keep fapping....

 

[adamstgBit]

its gold baby GOOOOLLLLDDDD!

[ChartBuddy]

Explanation

[Brewins]

Google trends for 'bitcoin reddit' is looking great.
If it's a good indicator which it seems to be, the bubble has just begun and I would predict atleast $6k before we see the end of 2014

I agree the down trend is showing strong signals of reversals, but 6k by the end of year?

Last bubble was 200 to 1k, so are you expecting this time it will be at lest 3x bigger?

[Mervyn_Pumpkinhead]

Don't worry, your precious little bitcoin will start to rise from now on. There will be better profits from the right alts though, even better then during the last bubble.

[catena5260]

Don't worry, your precious little bitcoin will start to rise from now on. There will be better profits from the right alts though, even better then during the last bubble.

One side: falllling and his troll army saying bitcoin will go to 0 and it is a ponzy schema.

Other side: people saying bitcoin will go to 6k(!) by the end of the year.


Now I understand the dude that said the truth lies between two lies.

[spiderbrain]

Woah, go bull wall observer thread! Seriously though, we're still under 500, give it a few days

[spiderbrain]

Last bubble was 200 to 1k

Really it was 100 > 1K. It wasn't stable at 200 for any length of time.

But you're right, either 250 > 1.1k peak to peak, or 100 > 500 stable to stable it's a factor of x5, not x11.

[ChartBuddy]

Explanation