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

[NotLambchop]

...If you have bitcoin, what are you waiting for? When are you going to sell? 290? 250? 150? 25? 10?? 5???

.50?? ...

A few here romanticize hodling.  To them, Bitcoin is a very personal, almost sexual thing.  Freud attributed such behavior to failure to progress past the anal gratification stage (anal retentive).  He was wrong, of course--these people are simply as crazy as the proverbial bed bug.

Which is cool--they are an endless source of free lel.
Enjoy!

[JorgeStolfi]

Bitcoin is done for. The experiment has failed.

That is a big exaggeration.

The ultimate goal of bitcoin was the development of an e-payment system that did not depend on a trusted authority (including a centralized server).  It was not to develop a great investment opportunity, a long-term store of value, a way to hide money from the IRS or your spouse, a way buy illegal drugs or child porn, or a way to drive banks and governments to bankruptcy.  It was not even meant to replace credit cards, cash, gold, or old paper checks. 

Indeed, bitcoin was not even meant to be an e-payment system itself; it was only a technical experiment, meant to prove that a certain protocol could solve ONE particular obstacle in the development of such a system, namely how to motivate volunteers to maintain the blockchain rather than sabotage it.  For that experiment to be carried out, all that was needed was an open community or volunteers willing to maintain the network and trade BTC among themselves, plus a few friendly pizza parlors and merchants to make the test more realistic.  That, AFAIK, was the bicoin community in 2009; and the experiment would have worked if it had been remained that until now.

[InvestorPerson]

Can anyone give me a likely scenario that would send the price up, or at least stabilize it so that XBT could work as a currency?

Remittance doesn´t make sense because you are likely to loose less by using Western Union or bank transfer.

Paypal using XBT sent the price down!?!
Argentina and Ukraine using XBT sent the price down!?!
Just about every piece of good news in 2014 has sent the price down. What can change that?

more sources who instantly dump coins create downward pressure. no surprise

nobody is holding coins, they get them and sell for precious fiat

[Carra23]

Bitcoin is done for. The experiment has failed.

That is a big exaggeration.

The ultimate goal of bitcoin was the development of an e-payment system that did not depend on a trusted authority (including a centralized server).  It was not to develop a great investment opportunity, a long-term store of value, a way to hide money from the IRS or your spouse, a way buy illegal drugs or child porn, or a way to drive banks and governments to bankruptcy.  It was not even meant to replace credit cards, cash, gold, or old paper checks.  

Indeed, bitcoin was not even meant to be an e-payment system itself; it was only a technical experiment, meant to prove that a certain protocol could solve ONE particular obstacle in the development of such a system, namely how to motivate volunteers to maintain the blockchain rather than sabotage it.  For that experiment to be carried out, all that was needed was an open community or volunteers willing to maintain the network and trade BTC among themselves, plus a few friendly pizza parlors and merchants to make the test more realistic.  That, AFAIK, was the bicoin community in 2009; and the experiment would have worked if it had been remained that until now.

Ignore him, he is just trolling.

Bitcoin as an experiment is a huge success. The question was whether something like this backed by nothing can have actual value, and the answer is a resounding yes.

[Walsoraj]

Bitcoin is done for. The experiment has failed.

That is a big exaggeration.

The ultimate goal of bitcoin was the development of an e-payment system that did not depend on a trusted authority (including a centralized server).  It was not to develop a great investment opportunity, a long-term store of value, a way to hide money from the IRS or your spouse, a way buy illegal drugs or child porn, or a way to drive banks and governments to bankruptcy.  It was not even meant to replace credit cards, cash, gold, or old paper checks.  

Indeed, bitcoin was not even meant to be an e-payment system itself; it was only a technical experiment, meant to prove that a certain protocol could solve ONE particular obstacle in the development of such a system, namely how to motivate volunteers to maintain the blockchain rather than sabotage it.  For that experiment to be carried out, all that was needed was an open community or volunteers willing to maintain the network and trade BTC among themselves, plus a few friendly pizza parlors and merchants to make the test more realistic.  That, AFAIK, was the bicoin community in 2009; and the experiment would have worked if it had been remained that until now.

Ignore him, he is just trolling.

Bitcoin as an experiment is a huge success. The question was whether something like this backed by nothing can have actual value, and the answer is a resounding yes.

Agree Jorge is trolling, because everything he said is inconsistent with Satoshi's white paper.

*edit*

No sarcasm intended. Seriously.

*2nd edit*

Seriously, seriously.

*3rd edit*

Yup, I re-read white paper 5 times. Proving something backed by nothing can have value is clearly the goal. In fact, I can easily interpret every single paragraph to state this obvious goal.

[BitAddict]

Ignore him, he is just trolling.

Bitcoin as an experiment is a huge success. The question was whether something like this backed by nothing can have actual value, and the answer is a resounding yes.

Not exactly backed by nothing. It is backed by utility. As long as it provides enough value by saving fess, being yourself the real owner of your money, fixed supply, faster international payments, online blackmarkets, online gambling, and so on, it will have a price. The day bitcoin won't provide any advantage anymore, well, that day bitcoin will be dead, but that is far far away.

[Cheeseonastick]

Ignoring people because they have different opinions than yours is the reason you holders are losing money every day, while people like me who are able to consider other peoples points of view cut their losses long ago.

I'll be listening for the butthurt to ratchet up a notch once we get sub 300. Shouldn't be long now. This train is off the rails.

[ChartBuddy]

Explanation

[fonsie]

Bitcoin is great and all, but my biggest mistake is finding this thread.
All that endless yapping from the trolls with some sort of Messiah complex, trying to save us poor souls. Some of them even having a "Academic" complex.

Yawn.

[SkyValeey]

So I want full pic of Satoshi.

Without towel.

[octaft]

Bitcoin is great and all, but my biggest mistake is finding this thread.
All that endless yapping from the trolls with some sort of Messiah complex, trying to save us poor souls. Some of them even having a "Academic" complex.

Yawn.

Personally, I appreciate Jorge's analysis, and encourage him to continue it. If you don't like it, put him on ignore and leave it at that.

[fonsie]

So I want full pic of Satoshi.

Without towel.

Go ask Taylor Swift, she has the other half.

[wachtwoord]

Ignoring people because they have different opinions than yours is the reason you holders are losing money every day, while people like me who are able to consider other peoples points of view cut their losses long ago.

I'll be listening for the butthurt to ratchet up a notch once we get sub 300. Shouldn't be long now. This train is off the rails.

It's impossible to lose money if you don't sell.

[Tzupy]

MACD in multiple time frames suggests this drop is slowing down for now, so I'm going to bed.
However the Chinese exchanges have shown a bearish mood lately, so I wouldn't be surprised to see another drop tomorrow.

[fonsie]

Bitcoin is great and all, but my biggest mistake is finding this thread.
All that endless yapping from the trolls with some sort of Messiah complex, trying to save us poor souls. Some of them even having a "Academic" complex.

Yawn.

Personally, I appreciate Jorge's analysis, and encourage him to continue it. If you don't like it, put him on ignore and leave it at that.

Not a big fan of the "Ignore" button, I like to read the good and the bad, and comment as I wish!

[barbs]

dafaq were all those dark orders of 300/ 200 / 300 btc around 324 on stamp

[fonsie]

Ignoring people because they have different opinions than yours is the reason you holders are losing money every day, while people like me who are able to consider other peoples points of view cut their losses long ago.

I'll be listening for the butthurt to ratchet up a notch once we get sub 300. Shouldn't be long now. This train is off the rails.

It's impossible to lose money if you don't sell.

They already cut there losses, thats why they are so defencive. If you keep going at it, you can push every single one of them into a corner and they all squeal like a pig, admitting defeat and confessing that they lost money. Now they are just hoping to buy back lower.

Prime example: NotLambchop

[BlindMayorBitcorn]

Ignoring people because they have different opinions than yours is the reason you holders are losing money every day, while people like me who are able to consider other peoples points of view cut their losses long ago.

I'll be listening for the butthurt to ratchet up a notch once we get sub 300. Shouldn't be long now. This train is off the rails.

It's impossible to lose money if you don't sell.

They already cut there losses, thats why they are so defencive. If you keep going at it, you can push every single one of them into a corner and they all squeal like a pig, admitting defeat and confessing that they lost money. Now they are just hoping to buy back lower.

That won't be difficult

[fonsie]

Ignoring people because they have different opinions than yours is the reason you holders are losing money every day, while people like me who are able to consider other peoples points of view cut their losses long ago.

I'll be listening for the butthurt to ratchet up a notch once we get sub 300. Shouldn't be long now. This train is off the rails.

It's impossible to lose money if you don't sell.

They already cut there losses, thats why they are so defencive. If you keep going at it, you can push every single one of them into a corner and they all squeal like a pig, admitting defeat and confessing that they lost money. Now they are just hoping to buy back lower.

That won't be difficult

Well for NotLambchop it needs to drop to 203$, better wish him good luck.

[Eddie Brock]

Ignoring people because they have different opinions than yours is the reason you holders are losing money every day, while people like me who are able to consider other peoples points of view cut their losses long ago.

I'll be listening for the butthurt to ratchet up a notch once we get sub 300. Shouldn't be long now. This train is off the rails.

It's impossible to lose money if you don't sell.

They already cut there losses, thats why they are so defencive. If you keep going at it, you can push every single one of them into a corner and they all squeal like a pig, admitting defeat and confessing that they lost money. Now they are just hoping to buy back lower.

That won't be difficult

Well for NotLambchop it needs to drop to 203$, better wish him good luck.

at this rate, we'll be there in a couple of weeks