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

[ChartBuddy]

Explanation

[mooncake]

Good morning, I wont remind you about what I said a couple of days ago but I will leave this here...

less than 13KBTC to under $40 and more than 15KBTC to $600... how much scary is that ?

While the order book may be less than conclusive, historically Bitcoin has never rallied with a spread like this.

I assume you are talking about Stamp. Last I checked, BTC-e and BFX did not follow this pattern.

[jeezy]

Good morning, I wont remind you about what I said a couple of days ago but I will leave this here...

less than 13KBTC to under $40 and more than 15KBTC to $600... how much scary is that ?

While the order book may be less than conclusive, historically Bitcoin has never rallied with a spread like this.

I assume you are talking about Stamp. Last I checked, BTC-e and BFX did not follow this pattern.

Exactly. They are always kinda "off the charts", so to speak.

[Hunyadi]

Good morning, I wont remind you about what I said a couple of days ago but I will leave this here...

Corrected.

[mmitech]

Good morning, I wont remind you about what I said a couple of days ago but I will leave this here...

Corrected.

I tried to be civil about it, but heck this is what I wanted to say

[tarmi]

fu loaded for preventing me to sell in the 420s

no no.

blame yourself for listening to btct trolls and not selling.

btw, it was so obvious that 420 wall was fake.

[Dragonkiller]

tuesday pump, thursday dump. what's new?

[Dump3er]

Paypal news = normal people finally realizing it's not a ponzi or related to terrorism*.
HUGE

 'Normal people' think PayPal is a ponzi or related to terrorism.

 Go into an Enterprise Car Rental center, and ask about paying with/accepting PayPal. Let alone any other internet ePayments service provider. See what looks you get.

 LOL!! To me there's no difference between these two^ - both equally ridiculous xD

The day I cash out my BTC i will look like this :



[..]

 Fattie or Fattie-Wannabe, when you're rich and have all the means to be healthy..? That's terrible

 Yes, all aboard once more when we revisit that nice round $400 level again.

Thanks. This is a cool future reference. We'll talk about these pics in a few days again.

[JorgeStolfi]

U.S. citizens (and residents?) may want to know about this, if they don't know already:

FBAR and FATCA Compliance in the Age of Digital Currencies
by Rajiv Prasad, J.D., LL.M., for The Tax Adviser - May 01, 2014
http://www.aicpa.org/publications/taxadviser/2014/may/pages/clinic-story-07.aspx

[edwardspitz]

gnu bash vulnerability fear mongering going on /r/bitcoin, be safe do your research.

what does it mean?

I just had a chat with a colleague who is currently patching our servers with the lastest updates in an attempt to fix this security issue. In my estimation this is quite a bit worse than heartbleed. Multiple services and web servers on Linux can be exploited 

[ChartBuddy]

Explanation

[jeezy]

Good morning, I wont remind you about what I said a couple of days ago but I will leave this here...

Corrected.

I tried to be civil about it, but heck this is what I wanted to say

mmi y so bitter all the time. probably got goxed for his life savings. 

[raid_n]

^ i don't know where all the hate for MMI comes from.  Back in the day he mined and was hugely bullish.  He reads the charts and now calls a bear market = everyone pours vitriol and hate.

This sort of behaviour simply reinforces the cultist profile of BTC users -- tow the party line or be ridiculed.  Sad but I guess a symptom of the interweb these days.

mmi is often patronizing and a straight out asshole sometimes.

You get out what you put into it...

[JayJuanGee]

...
The hoarding "problem" seems way overstated to me.  Certainly, you would want to spend your less appreciating assets first..... .but if the economy were to evolve to such a state that there were only bitcoins or bitcoin-like assets/currencies, then assets/currencies would
need to establish themselves in such a way that they could compete with bitcoin and that they would be able to retain their value, or appreciate in value, like what remains anticipated with bitcoin.

The hoarding "problem" is quite likely an attack and any site/jurno making an issue out of it should raise red flags (plenty of copycats too though).  More spending means more coins entering the market and so more down.

Probably we are on the same page, Stan Distortion.

To explain further (at the risk of repeating myself), I am NOT encouraging anyone to hoard coins for the mere sake of hoarding (and anyhow "hoarding" is a negative and derogatory label); however, if someone holds a bunch of different kinds of assets/currencies, they would spend the less appreciating assets first.. such as the dollar... and when they run out of dollars, they are NOT going to starve to death.. merely b/c they want to hold their bitcoins.  

If a person is hungry, and his/her health could suffer from NOT eating, then food will be more valuable than holding bitcoins (and we do NOT even need that level of extreme to cause people to spend their bitcoin, if it were the ONLY asset/currency that they hold), or at least I would think so.  

In this same reasoning, people will like to desire and practice the maintenance of various life conveniences, and accordingly, they will need to (want to) spend their bitcoins to achieve such (that is if they ONLY hold bitcoins, and they do NOT hold other liquid assets/currencies).  In other words, I agree with your sentiment, Stan Distortion, that hoarding as a supposed "problem" is a fiction of status quo financial entities/interest spreading disinformation (FUD) about BTC.

[JayJuanGee]

^ i don't know where all the hate for MMI comes from.  Back in the day he mined and was hugely bullish.  He reads the charts and now calls a bear market = everyone pours vitriol and hate.

This sort of behaviour simply reinforces the cultist profile of BTC users -- tow the party line or be ridiculed.  Sad but I guess a symptom of the interweb these days.

mmi is often patronizing and a straight out asshole sometimes.

You get out what you put into it...

"Sometimes?"   Raid_N:  You are being very charitable in your word choice.  Probably a more accurate description would be "a large majority of the times."    

If Mmitech has any nice bone(s) in him, he very rarely shows it in this thread.

[Tzupy]

The bid sum on Bitstamp reached (for a short time, it recovered a bit) the lowest point of this year, at just above 3 M$.
I noticed a discrepancy between the evolution of bids on Bitstamp and on Chinese exchanges, and I believe that
Chinese coins have been dumped for months. If it's westerners returning profits from China or new coins mined in China
and used for capital transfer, I can't tell, but the effect is the same.

[tarmi]

The bid sum on Bitstamp reached (for a short time, it recovered a bit) the lowest point of this year, at just above 3 M$.
I noticed a discrepancy between the evolution of bids on Bitstamp and on Chinese exchanges, and I believe that
Chinese coins have been dumped for months. If it's westerners returning profits from China or new coins mined in China
and used for capital transfer, I can't tell, but the effect is the same.

agreed.

[AmazonStuff]

I was bear enough, but bear market is at it's end, we have a double bottom, 10 months of bear market, bunch of good news and technical indicators screaming divergence and I changed into bull, big one PayPal acceptance is a game changer, other companies will say if PayPal accepted BTC we should too, they will not fear BTC as they were frightened before, you will see BTC more in media, you will probably see BTC everywhere, just as you see Coca-Cola logo everywhere.

[ChartBuddy]

Explanation

[JayJuanGee]

...

Check edit and buy food from vendors that accept btc directly, those that use payment processors are supporting a competing economy

I have some mixed feelings about these points.  I understand the point that you are making and I agree that if you know that the business is holding BTC, then they would be the preferred business to patronize.   


However, I tend to believe that anyone taking BTC is a good thing, and surely, we should also be sympathetic to the businesses using payment processors (and really we do NOT have any meaningful way to verify the extent to which the payment processor businesses are directly converting or holding some percentage).  We should, if we can, be inclined to replace any BTC that we spend, anyhow.

Another ongoing issue remains the tax treatments to use BTC as a form of currency... which is bullshit to have this accounting disincentive hanging over our heads.... Currently, I am trying to get around this (put this off) by simultaneously (within a week or so) replacing any BTC that I spend, and that way I can claim that there was NO capital gains or loss (makes for easier accounting for me, so far).   Now, down the road, if I begin to make some substantial purchases that also include capital gains, then I will NEED to account for such gains in my projected IRS filings for the year.