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

[ChancellorOnABrink]

$7.2M paid by USA to russia in 1867 to buy Alaska 




http://upload.wikimedia.org/wikipedia/commons/thumb/2/20/Alaska_Purchase_%28hi-res%29.jpg/1920px-Alaska_Purchase_%28hi-res%29.jpg

[Tony Abbot]

If this wasn't the bottom, we would have seen the usual weekend drop.... Or have I spoken too soon?

I just convinced a friend of mine to throw 5 grand at some BTC.... I've got a feeling that by 9am (Australia time) tomorrow the uptrend will be in full swing and he's gonna pay too much.

[ChartBuddy]

Explanation

[Omikifuse]

$7.2M paid by USA to russia in 1867 to buy Alaska 

In 1867 that was a huge ammount of monwy(see some western movies and you will agree)

But not sure what it has to do with the topic

[catena5260]

In 1867 that was a huge ammount of monwy(see some western movies and you will agree)

10.8 tons of gold since 1 dollar was fixed weight of 1.5grams (23.22 grains) of gold from 1834 until 1900)

Around 14 Billion, considering the current value of gold.

[lyth0s]

About to break that $480 resistance?

[ChancellorOnABrink]

In 1867 that was a huge ammount of monwy(see some western movies and you will agree)

10.8 tons of gold since 1 dollar was fixed weight of 1.5grams (23.22 grains) of gold from 1834 until 1900)

Around 14 Billion, considering the current value of gold.

The US$ 7.2 million check used to pay for Alaska ($119 million in 2014 dollars)[1]

http://www.wolframalpha.com/input/?i=1867+US%247.2+million

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Brewins]

In 1867 that was a huge ammount of monwy(see some western movies and you will agree)

10.8 tons of gold since 1 dollar was fixed weight of 1.5grams (23.22 grains) of gold from 1834 until 1900)

Around 14 Billion, considering the current value of gold.

The US$ 7.2 million check used to pay for Alaska ($119 million in 2014 dollars)[1]

http://www.wolframalpha.com/input/?i=1867+US%247.2+million

Or around 400M, if you consider the gold equivalent.

[ChartBuddy]

Explanation

[Bagatell]

In 1867 that was a huge ammount of monwy(see some western movies and you will agree)

10.8 tons of gold since 1 dollar was fixed weight of 1.5grams (23.22 grains) of gold from 1834 until 1900)

Around 14 Billion, considering the current value of gold.

The US$ 7.2 million check used to pay for Alaska ($119 million in 2014 dollars)[1]

http://www.wolframalpha.com/input/?i=1867+US%247.2+million

Or around 400M, if you consider the gold equivalent.

Cheap!

http://www.zerohedge.com/news/2014-09-11/million-dollar-parking-spots-%E2%80%93-peak-stupidity-has-arrived-manhattan

[ChartBuddy]

Explanation

[Dalmar]

In 1867 that was a huge ammount of monwy(see some western movies and you will agree)

10.8 tons of gold since 1 dollar was fixed weight of 1.5grams (23.22 grains) of gold from 1834 until 1900)

Around 14 Billion, considering the current value of gold.

The US$ 7.2 million check used to pay for Alaska ($119 million in 2014 dollars)[1]

http://www.wolframalpha.com/input/?i=1867+US%247.2+million

Or around 400M, if you consider the gold equivalent.

Or over 130 billion, if you consider the DOW equivalent.

[JayJuanGee]

If this wasn't the bottom, we would have seen the usual weekend drop.... Or have I spoken too soon?

I just convinced a friend of mine to throw 5 grand at some BTC.... I've got a feeling that by 9am (Australia time) tomorrow the uptrend will be in full swing and he's gonna pay too much.

These buying decisions are always difficult b/c you really do NOT know if there is going to be another dump attempt.  Sometimes they occur late on Sunday and sometimes they even occur on Monday... Maybe it will NOT make much of a difference if you buy at $478 or $458 (I'm talking about the price on Bitstamp for common reference).. sure it is possible, that the price could be pushed down an additional $20 or even more ... or maybe also, as you suggest, this is then lowest b/c maybe the dumpers are running out of coin and running out of ammunition and running out of resolve.  But I would NOT bank on it....

If you are really concerned that the train may leave without you and you have a stash that you are ready to invest now... maybe just for leverage, you may decide to invest approximately 80% of that stash now, and hang onto 20% of the stash, just in case the price drops further.. or whatever allocation that makes you feel comfortable, in case the price goes against your estimations.

[Searing]

I don't like saying this...but my view (likely wrong) is it will drop to 400 or below....imho just too  much 'mining' via all the methods including
cloud hashing etc and just not enough use nor will to buy at this time...just sell asap ....hopefully this is short term...but just 'feels' like too much BTC being
converted directly to USD on all these mega farms and/or what few merchants like overstock.com etc are taking bitcoin...thus again imho we
are in this slump till around 400 usd or below...till some other aspects of use etc on Bitcoin return...(hopefully)

hoping the ETF by the facebook twins or just plain....expense of mining...glut stops and .shortens this 'slump period' again in my view ...but again i just
have a feeling that too much currency vs use and too much of that currency is being converted directly...thus an ugly pattern of bad news
or frak any news on BTC lately seems to be seen in the most negative light...and thus over reaction in my view to dump (at this time)

hope I'm wrong ...wanna be a bull......having identity crisis

anyway my view but don't mind me...I bought from BFL and Alpha Tech (got full refunds on both) and a NO ROI TITAN from KNC on order
so obviously I don't know WTF I'm talking about and am quite likely certifiably ready for a rubber room

but if BTC is a 3 legged stool mining/buying & selling/ use .... using BTC seems way back of the pack compared to the other two processes imho

just my demented view

Searing

[spooderman]

Too much mining? As in coins are getting created faster suddenly?

[spooderman]

I think it's nice to see it continue to rise, as this is our strength.

[ChartBuddy]

Explanation

[spooderman]

russia to ban bitcoin apparently.

edit: just to drive home something Andreas often mentions. Officials making a currency illegal means you can be sure that they are accumulating as much of it for themselves as possible, as they understand its appeal and therefore its value.

Go ahead world leaders, make our currency illegal. It'll be just like cocaine. Reserved for you.