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

[MrPiggles]

^ 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.

I think doge is stoopid but I don't spend all day on a doge forum gloating about the price of dogecoin and insisting people recognise that I was right all along.

That's why people dislike him, because only an asshole would spend so much time and energy on something they dislike.

[tarmi]

there are 0 benefits for users with 0 btc to use paypal with btc.

like I said, only early adopters who bought really cheap coins could benefit from it for some micropayment, if the fees are reasonable.

[MrPiggles]

Paypal is bigger than that, if they offer bitcoin as a payment method to their customers, unless they're only one way (which I doubt) they'd need to keep them on hand for their customers to both pay with and receive.

It wouldn't be like dell dumping it all on bitpay, paypal would need a certain amount of btc in their reserve

I understood that PayPal is merely accepting dollars from BitPay/Coinbase/Coinsetter and delivering them to merchants who subscribe to PayPal.  And for "digital goods" only. And only in North America. Isn't that so?

In other words, it is just like Dell: people who buy BTC now (on the exchanges or over the counter, in bulk or retail) are paying the shopping bills of owners of old cheap coins who choose to "pay with bitcoin".  Only that there is one more intermediary (PayPal) taking their fee.

Yeah, so far. No one expected paypal to turn around and say "fuck dollars we're now a bitcoin only business" at one fell swoop

[JayJuanGee]

....
Seems to be a topic beyond the scope of this thread (though this thread seems to be fairly tolerant of a variety of topics so long as they are anywhere remotely connected to BTC walls - and even then... ooofffffta...).  

Agreed. To stick to speculation, I speculate the main problem at the mo is the same one that allowed the dominance of the Roman empire, a small but coordinated force can defeat a much larger uncoordinated force and that looks like a problem on all markets, btc is small fry in comparison.
The decaying oscillations are interesting there. Its a means by which a small force can have big effects and the principle is used in all kinds of things, its also very easy to detect and influence. A distributed bot would easily overwhelm it, basically folks running the bot would pick a bull or bear role with their holdings and the bot would push in one direction or the other, it would amplify rather than decay but overall it would add weight and thus stability to the market. It would mean trusting exchanges though and imho that's a bad idea until distributed exchanges come into common use (or exchanges that keep your holdings in multisig wallets under shared control).
EDIT: There's no need for communication between bots, the oscillations are the signal and the bot take an action on detection.

I would NOT give the smaller force as being more coordinated, they just seem to have more opportunities to dump BTC, which creates the appearance of coordination.  So, the easier it is to get in fiat and to flood the markets with fiat (at the whims of the people interested in BTC), then the more difficult it will become for the bears to manipulate the price down with their ability to easily move their BTC around.... Fiat is NOT so easy to move and there are quite a few financial barriers to move around fiat... but if that moving around of fiat (just getting it onto an exchange quickly, easily and inexpensively) is made easier, then watch out BEARS!!!!

[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.

I think doge is stoopid but I don't spend all day on a doge forum gloating about the price of dogecoin and insisting people recognise that I was right all along.

That's why people dislike him, because only an asshole would spend so much time and energy on something they dislike.

+1     

[Blue]

cut your looses before its too latex !!

you should have sold at 450, too late now buddy

i am shotr since late Aug and will be for another month

but for you hodlers, you may find comfort here : http://chartfactory.com/

Bitstamp / Bitfinex        nice / nice

[oda.krell]

there are 0 benefits for users with 0 btc to use paypal with btc.

like I said, only early adopters who bought really cheap coins could benefit from it for some micropayment, if the fees are reasonable.

One word: moving the goalposts.

(Okay, more like three words.)

[tarmi]

there are 0 benefits for users with 0 btc to use paypal with btc.

like I said, only early adopters who bought really cheap coins could benefit from it for some micropayment, if the fees are reasonable.

One word: moving the goalposts.

(Okay, more like three words.)

even if paypal takes 0 fees for transactions (why would they do that?) you still have to transfer your money from bank to btc exchanges and pay fees for their services.

too much of a hassle for 1 micropayment for a new user.

[Malin Keshar]

Why the weekend trap in the middle of the week?

We are supposed to go moon, not to fall again:(

Where is the bubble we were supposed to see in september ?

[ChartBuddy]

Explanation

[magicmexican]

bitcoinwisdom down?

[600watt]

bitcoinwisdom down?

not here...

[Malin Keshar]

And btc-e almost breakind down the 400's

Weekend dump, except by the fact we are not in the weekend

[fonzie]

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

what does it mean?

It means that exchanges can be hacked (if they weren't already) using this exploit, until they patch the affected systems.
http://arstechnica.com/security/2014/09/bug-in-bash-shell-creates-big-security-hole-on-anything-with-nix-in-it/

https://bitcointalk.org/index.php?topic=796289.0

Huobi already gave away 920 free Bitcoins and ~8000 LTC ..
Don´t know if that has something to do with it.
They claim that they already received 800BTC back from the users....

[fonzie]

I´m, going to place some orders on BTC-E ~80-150$ for the coming days.  
400$ doesn´t seem to be sustainable much longer.

[NotLambchop]

there are 0 benefits for users with 0 btc to use paypal with btc.

like I said, only early adopters who bought really cheap coins could benefit from it for some micropayment, if the fees are reasonable.

One word: moving the goalposts.

(Okay, more like three words.)

even if paypal takes 0 fees for transactions (why would they do that?) you still have to transfer your money to btc exchanges and pay the fees for their services.

too much of a hassle for 1 micropayment for a new user.

Gentlemen!  The issue at hand is much simpler than it appears.  Allow me to illustrate:



*The night crew can't be trusted with Bitcoin.  Exchanges should remain open only between 9am and 5pm, EST

[vipgelsi]

bitcoinwisdom down?

not here...

Just was on it working fine also.

[MrPiggles]

I have some business issues in the US of A that I am trying to get in order - otherwise I am considering various ways to become location independent.  Currently, I am attracted to south east asia, more than europe - and part of my thinking is that I can live a lot better on a lot less (accordingly, live well within my means, and continue to accumulate wealth with a mostly passive income).  Potentially, later in life, I will be able to travel and live in more expensive areas...... Well, anyhow, this is more of a work of progress than anything set in stone...

Further, I am anticipating that there are going to be a lot of ongoing wishy-washy developments and adjustments when it comes to various tax treatments of BTC... from what I understand, Americans traveling abroad would NOT be required to count the gains of their spent BTC, so long as those BTC are spent overseas.

Regarding number of merchants, the more the better, and regarding spending, there are a lot of mixed blessings about that, and the USA, as most of us already realize, has one of the worst spending records - and some of the american consumerism habits are spreading to other areas around the world... NO simple solutions there when it comes to inequality and wasteful spending while some people are barely able to scratch by meager livings others are living wastefully high on the hog.  Seems to be a topic beyond the scope of this thread (though this thread seems to be fairly tolerant of a variety of topics so long as they are anywhere remotely connected to BTC walls - and even then... ooofffffta...).   

I think we have a lot in common, I became "location independent" about 2 years ago now.

I live in South East Asia, I live on around $2000 a month. That's in a nice villa, with a nice car, and I eat out at least 2x a day (in western restaurants not local food)

in Europe my lifestyle would eat 90% of my income, over here I save >75% of my income.

[spooderman]

I have some business issues in the US of A that I am trying to get in order - otherwise I am considering various ways to become location independent.  Currently, I am attracted to south east asia, more than europe - and part of my thinking is that I can live a lot better on a lot less (accordingly, live well within my means, and continue to accumulate wealth with a mostly passive income).  Potentially, later in life, I will be able to travel and live in more expensive areas...... Well, anyhow, this is more of a work of progress than anything set in stone...

Further, I am anticipating that there are going to be a lot of ongoing wishy-washy developments and adjustments when it comes to various tax treatments of BTC... from what I understand, Americans traveling abroad would NOT be required to count the gains of their spent BTC, so long as those BTC are spent overseas.

Regarding number of merchants, the more the better, and regarding spending, there are a lot of mixed blessings about that, and the USA, as most of us already realize, has one of the worst spending records - and some of the american consumerism habits are spreading to other areas around the world... NO simple solutions there when it comes to inequality and wasteful spending while some people are barely able to scratch by meager livings others are living wastefully high on the hog.  Seems to be a topic beyond the scope of this thread (though this thread seems to be fairly tolerant of a variety of topics so long as they are anywhere remotely connected to BTC walls - and even then... ooofffffta...).   

I think we have a lot in common, I became "location independent" about 2 years ago now.

I live in South East Asia, I live on around $2000 a month. That's in a nice villa, with a nice car, and I eat out at least 2x a day (in western restaurants not local food)

in Europe my lifestyle would eat 90% of my income, over here I save >75% of my income.

[NotLambchop]

...
I live in South East Asia, I live on around $2000 a month. That's in a nice villa, with a nice car, and I eat out at least 2x a day (in western restaurants not local food)

in Europe my lifestyle would eat 90% of my income, over here I save >75% of my income.

In most of US, you wouldn't be able to afford your lifestyle, period.  I lived on $2k a month (NYC) and trust me, there was no talk of "villas" or saving