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

[phoenix1]

Alex Salmond said bitcoin could be Scotland new currency. I'm wondering if this btc hammering is meant to discourage the divorce from sterling just in case "Yes" wins. Just a random tought, but must say timing is perfect

Let's be serious for a moment. No sane Scot is giving any thought to making Bitcoin the official currency.

Let's be serious for a moment. Scots are not sane, they're a bunch of crazy skirt wearing wee girilies. And they don't think, that's why they need governing by the UK.

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[JayJuanGee]

this thread is almost as crazy as the market.

WHAT?? Post counts have been going down, too?     

[grappa_barricata]

[mmitech]

are you in the mood of watching a scary movie ? I will spare you some money by showing the Bitstamp bookorder depth:

[JayJuanGee]

What would be dead is the inflated expectations of a few overzealous people. That's all.

So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them?

Honestly answer the question.  2014 is nearly over, it's been 10 months.

Maybe not greedy but naive? Bitcoin went up x100 in 2013. Do you expect this to just maintain its value without major corrections?

If you want to retain value short to mid term at least, then Bitcoin is not the asset to do that. Bitcoin is an asset to look for high growth, and with that growth comes the cost of RISK.

Sticky please. First post everyone should read who enters this forum.

This is what frustrates me about the constant touting of bitcoin as a "store of value." Ask anyone who bought in during 2014 how that's working out for them.

Now go ask the same question to those who bought in 2012/2013 and come back in a few years.

Is that what a "store of value" is? Buy today, lose more than 1/2 the value in several months, and then hope we have a bubble that goes 10x my initial buy-in a few years later? Is that a "store of value"?

scarsbergholden:  You seem to be exaggerating a little bit and playing ignorant.  I believe that store of value merely means that by the time you cash out, the asset is worth at least the same and potentially more than it was worth when you purchased it.   Surely, with storage of value, you would probably like it to hold at least the value of relatively stable storage of value mechanisms... maybe expecting some appreciation of value between 3 to 5% per year. Of course, if it gains greater value than otherwise stable value storage vehicles, then that would be icing on the cake.

Its the worst storage of value ever... At least for a short term or if not riding the waves.

Looks like you did NOT either read or understand my post.   

And, also in part storage of value depends on your time frame... HELLO???

[rebuilder]

Alex Salmond said bitcoin could be Scotland new currency. I'm wondering if this btc hammering is meant to discourage the divorce from sterling just in case "Yes" wins. Just a random tought, but must say timing is perfect

Let's be serious for a moment. No sane Scot is giving any thought to making Bitcoin the official currency.

Let's be serious for a moment. Scots are not sane, they're a bunch of crazy skirt wearing wee girilies. And they don't think, that's why they need governing by the UK.

Taking that claim at face value, no-one there is considering Bitcoin as the national currency anyhow.

[steady712]

are you in the mood of watching a scary movie ? I will spare you some money by showing the Bitstamp bookorder depth:

Bad day 

[coins101]

Alex Salmond said bitcoin could be Scotland new currency. I'm wondering if this btc hammering is meant to discourage the divorce from sterling just in case "Yes" wins. Just a random tought, but must say timing is perfect

Let's be serious for a moment. No sane Scot is giving any thought to making Bitcoin the official currency.

Alex, it'll be ok-everyone is wrong-I will get everything I want, Salmond is no sane Scot.

[phoenix1]

Alex Salmond said bitcoin could be Scotland new currency. I'm wondering if this btc hammering is meant to discourage the divorce from sterling just in case "Yes" wins. Just a random tought, but must say timing is perfect

Let's be serious for a moment. No sane Scot is giving any thought to making Bitcoin the official currency.

Let's be serious for a moment. Scots are not sane, they're a bunch of crazy skirt wearing wee girilies. And they don't think, that's why they need governing by the UK.

Taking that claim at face value, no-one there is considering Bitcoin as the national currency anyhow.

No, but Doge is in with a chance apparently, that and Haggiscoin

[Erdogan]

this thread is almost as crazy as the market.

WHAT?? Post counts have been going down, too?     

I love these dump days, not for the loss, for the culture!

[JayJuanGee]

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO, it's a store of value being built. Do you actually believe that because some monopoly money went into bitcoin the last few years, it's already a store of value? NO, but the potential of it becoming a store of value is there.

Agreed with that as well.

I wonder why so many people in here are so binary in their thinking: Bitcoin is a terrible store of value currently (and a highly speculative asset), a not-too-shabby medium of transfer, and absolutely not a unit of account. If things go well, it might be a store of value in the future, and the likelihood of that happening is exactly what we're collectively determining/discovering here, through the markets.

I bolded the key word. Anything can happen in the future. Bitcoin might be worth zero in the future as well. My point was that there is a prevalent attitude in this community that bitcoin is a store of value and that buying now is always a good idea. I'd not even consider such terms as "store of value" until bitcoin is much more entrenched.

It is all these things now. It has to be, if not, it is not money. You vision is fogged if you think that some fiat has better quality. Fuck, when you spend the petty cash you get for your astroturfing on that teddy bear, you depress the value of dollar and support the value of teddy bears!

First: you sound angry. Nothing in scarsbergholden's post warrants that, in my opinion.

Second: my Euro denominated bank account hasn't lost more than 50% of its purchasing power in the last half year, as far as I can tell. So, in the short to mid term then, the Euro was a vastly better store of value than Bitcoin. Care to argue with those facts?

There are, extremely broadly speaking, three types of posters in here:

Those who are convinced Bitcoin is going nowhere but down, on any time scale. Trolls aside, that means they'll actively short to make money.

Those who are convinced Bitcoin can and must go up. Success of crypto as a global currency and store of value almost guaranteed, in the long run. They buy and buy and buy, and hope for the best.

And then there's those who look at it as an experiment. Could work. Could fail. Price fluctuations just represent that uncertainty. They trade in whatever way is appropriate at the time.


The problem is that the first group and the third group are most of the time conflated in here by those in the second group. But that's an unrelated problem

I appreciate what you are saying; however, you have formulated a kind of strawman with your attempt to describe quasi-mutually exclusive categories.

There may also be quite a few people who fit in your groups 2 and 3

[grappa_barricata]

We may start calling 09/18/2014 Black Thursday

[findftp]

Graphically:

I'm way too geeky. My first thought was that that QR code is invalid.

No it's not.
I managed to recover it!
Lets donate to jorge!

Just kidding. Feel free to donate to me for the effort

This is the real recovered QR code.
It's not a bitcoin address. My android app translates it to a number: 13501619

Well, that's funny.
Someone actually donated  Thanks, whoever it was

This is why I love bitcoin.
Great community.

[Erdogan]

They don't evaporate, rust or rot. Ergo, a store of value. What is wrong with you guys?

[raid_n]

We are right where we need to be.
The cards have been dealt.

[HerrAndreas]

now i thinking about suicide! (no joke)

USA National Suicide Prevention Lifeline

No matter what problems you are dealing with, we want to help you find a reason to keep living. By calling 1-800-273-TALK (8255) you’ll be connected to a skilled, trained counselor at a crisis center in your area, anytime 24/7.
http://www.suicidepreventionlifeline.org
http://www.suicide.org/suicide-hotlines.html
---

That's everything I've found   Consider your decision.

best reply.

concerning the suicide thing: don´t. it´s only money. it is not as important as it seems.

[_javi_]

..and in a few hours the chinese wake up...
let´s get ready to rumble!!

[derpinheimer]

They don't evaporate, rust or rot. Ergo, a store of value. What is wrong with you guys?

To me, biggest fear is something better coming along. There are already better alternative. All bitcoin has going for it is that its the most established. And yet, its still quite small.

[BitChick]

We are right where we need to be.
The cards have been dealt.

I am actually in a very good mood.    This is the best the dumpers have got!?  Looking at the big picture, we are in about the same spot we were last year before we had the last rally!  

The next few weeks are going to be great!  

[jofus87]

..and in a few hours the chinese wake up...
let´s get ready to rumble!!

I live in Beijing and woke up to see this, oh boy what a day that lies ahead!