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

[janos666]

I am going to start using the term "bits" from now on when quoting prices.  I agree with Gavin.

Price is currently about $0.000387 per bit.  Let's go for bit-dollar parity!  

To be honest, I think this whole 21M thing and even more so the utilization of the decimal fractions make absolutely no f¤ked sense for something like Bitcoin. This is just retarded in my opinion. A stupid mind trick fling and/or superstition service which sacrifices logic and ease of use. Not an optimal, not logical, not convenient, not nice.

If I were the one to set up a maximum number for the coin supply, my first candidate would have been the highest possible number granted by the size of the underlaying integer or floating point variable but I would have revised it to an y=10^x (where x is a convenient whole number, something close to 20).

Even if I make myself not caring about the 21 thing, but... decimal fractions?
DECIMAL FRACTIONS?

REALLY???
REALLY?

Makes no f¤cked sense. No no no... It's just wrong. Illogic and inconvenient = suboptimal ~ stupid.

[Adrian-x]

I am going to start using the term "bits" from now on when quoting prices.  I agree with Gavin.

Price is currently about $0.000387 per bit.  Let's go for bit-dollar parity!  

To be honest, I think this whole 21M thing and even more so the utilization of the decimal fractions make absolutely no f¤ked sense for something like Bitcoin. This is just retarded in my opinion. A stupid mind trick and/or superstitious act which sacrifices logic and ease of use.
If I were the one to set up a maximum number for the coin supply, my first candidate would have been the highest possible number granted by the size of the underlaying integer or floating point variable but I would have revised it to an y=10^x (where x is a convenient whole number, something around 15 or 20).

Even if I make myself not caring about the 21 thing, but...
A decimal fractions?
DECIMAL FRACTIONS?

REALLY???
REALLY?

Makes no f¤cked sense. No no no... It's just wrong. Illogic and inconvenient = suboptimal ~ stupid.

Just as well then, it doesn't seem to me Satoshi thought we'd be using so many decimals, early on he proposed just moving the decimal point, and calling the new fraction Bitcoin. Seems some over enthusiastic programmers went and named and solidified the denominations making it impractical or confusing to go and just move the decimal point.

[nanobrain]

Cryptocurrencies are meant to allow payments that governments (and banks, which can be conflated with them)  cannot see, block, divert, or undo.

In your mind maybe.  You don't get to speak for any cryptocurrency developers.  We can speak for ourselves thanks.

That is not explicit in Satoshi's paper, but seems to have been a basic assumption by most of the crypto fans, especially the most ardent ones. (Reducing credit card fees is not something that would get people that excited about, is it?).

Most cryptocoins seem to be designed and supported with that goal in mind.  Some bitcoiners are even adopting other coins because they do not see bitcoin as sufficiently robust in that regard.  Few coins, if any (Ripple perhaps? I don't  know about it)  are designed to allow the same level of control that governments now have on bank transfers.

Bitcoiners are a broad church and you, especially you, don't get to speak for all of us.  Stop trying to paint Bitcoin as a political tool invented by political extremists.  YOU are the bloody extremist here, prof.  Bitcoin is a technology.  Like Bittorrent.  Like the Internet.  Like electricity.  Like guns.  Like fire.  Some people use it to make things; others to break and/or take things.  Some people just sit at the sidelines hurling abuse and shouting "heresy" right up to the point where they're drowned out by the sound of change inexorably passing them by.

You're not a skeptic; you're an intellectually dishonest, disingenuous shit-slinger with absolutely nothing worthwhile to contribute to this conversation. 

BTW, been meaning to tell you something...
You rock.

Yeah...rocking: I always think you've won an argument when you're the first to ignore the points made and start calling people names instead....almost Platonic.

[molecular]

I am going to start using the term "bits" from now on when quoting prices.  I agree with Gavin.

Price is currently about $0.000387 per bit.  Let's go for bit-dollar parity! 

The next parity target is 1bit = 1USDbit (12.5c)

back in July I made a thread: BIT parity - the rise of the BIT against world fiat currencies and other things

For 1 bit, one can currently buy:

• 16 Iranian Rial
• 13 Viet Nam Dong
• 7 Indonesian Rupiah
• 1.17 Colombian Peso

I'll try to think of reviving it when we go above the peso again (I think we dropped below Columbioan Pesos parity)

[molecular]

I am going to start using the term "bits" from now on when quoting prices.  I agree with Gavin.

Price is currently about $0.000387 per bit.  Let's go for bit-dollar parity!  

To be honest, I think this whole 21M thing and even more so the utilization of the decimal fractions make absolutely no f¤ked sense for something like Bitcoin. This is just retarded in my opinion. A stupid mind trick and/or superstitious act which sacrifices logic and ease of use.
If I were the one to set up a maximum number for the coin supply, my first candidate would have been the highest possible number granted by the size of the underlaying integer or floating point variable but I would have revised it to an y=10^x (where x is a convenient whole number, something around 15 or 20).

Even if I make myself not caring about the 21 thing, but...
A decimal fractions?
DECIMAL FRACTIONS?

REALLY???
REALLY?

Makes no f¤cked sense. No no no... It's just wrong. Illogic and inconvenient = suboptimal ~ stupid.

Just as well then, it doesn't seem to me Satoshi thought we'd be using so many decimals, early on he proposed just moving the decimal point, and calling the new fraction Bitcoin. Seems some over enthusiastic programmers went and named and solidified the denominations making it impractical or confusing to go and just move the decimal point.

Well, moving the decimal point is impractical and confusing.

We should migrate to XBT/bits and be done with it.

[cheekychap]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

[ChartBuddy]

Explanation

[molecular]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

[ShroomsKit]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

Or down.

[janos666]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

Or down.

Well, if it doesn't jump then it probably will slowly but constantly go down. Constant slow growth just isn't possible here.

[lyth0s]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

Or down.

Yes I completely agree. From here we could be going up, down or sideways....wait isn't that always the case?

[hmmmstrange]

Canada listened to Andreas and made me almost believe in elected representation.

NY didn't.

Except those guys were not elected...

Appointed lifetime trough swillers.

face it canadians are just cooler poeple.

Except that Canada has no 2nd amendment protections.  No legal firearms  to defend against tyranny and criminals, only guns for the criminals and govt.

One word, Oka

[ChartBuddy]

Explanation

[touhonoob]

https://i.imgur.com/wgghbYA.png
Explanation

The bid side becomes higher and higher 

[noobtrader]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

Or down.

woww...  you havent close your short then ?

[seljo]

Chinese 10k wall still here? Someone is buying coinz for peanuts... 

[solex]

Chinese 10k wall still here? Someone is buying coinz for peanuts... 

That wall hasn't bought 1 BTC yet, and when there was a dip it was pulled and then dropped 20 yuan. Sellers see it and are holding back.

[ChartBuddy]

Explanation

[Totscha]

I thought BTC would be a space bound rocketship by now. Oh well, it's gonna happen sooner or later. And even though I would rather it be sooner, I can keep my coins in cold storage until later. It's not like I don't have anything else to do.

In the meantime, I can't wait to install Gems on my iPhone (Getgems.org). I would love to see it, or something like it, kill Facebook. Or do you guys think Facebook would sooner do the same kind of thing to keep from going the way of MySpace? lol


 

Nah, no way. The market still hasn't decided if we stopped falling.

My guess would be a silent accumulation until early 2015 with some swings, but the price will be $400-ish.

After that ETFs will come in and hopefully we get some nice slow steady growth...

[ChartBuddy]

Explanation