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

[NotLambchop]

Very volume.

Huh. Sure you're looking at the right thing?
...

Pretty sure.  Also lol @"Chinese volume."  As un-pc as "Indian giver."
Not expecting any drama today.  Not to the upside, at least.  Been wrong before, tho

[macsga]

Very volume.

Huh. Sure you're looking at the right thing?
...

Pretty sure.  Also lol @"Chinese volume."
Not expecting any drama today.  Not to the upside, at least.  Been wrong before, tho

I believe you should stay all Fiat. In the meantime please entertain yourself by reading a nice nursery rhyme:

http://wolfstreet.com/2014/10/30/the-wrath-of-draghi-first-german-bank-hits-savers-with-negative-interest-rate/

Deutsche Skatbank, a division of VR-Bank Altenburger Land, which was founded in 1859, is not the biggest bank in Germany, but it’s the first bank to confirm what German savers have been dreading for a while: the wrath of Draghi.

Retail and business customers with over €500,000 on deposit as of November 1 will earn a “negative interest rate” of 0.25%. In less euphemistic terms, they have to pay 0.25% per annum to the bank for the privilege of handing the bank their hard-earned money or their business cash.

Cheers.

[David M]

I remember there was lots of shorting (on borrowed btc) on bitcoinica in late 2011. Imo it was a large part of what brought the price down to $2.xx. The gox hack and media did the largest part, though.

Zhou tong... who could forget.  The damage was already done after we broke $16 which was at least 3 months before Bitcoinica.

Bitcoinica entered the market in September 2011 (~$6) and just helped shorts sell the bottom.  

http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyzczsg2011-04-06zeg2012-11-07ztgCzbgEza1gWMAzm1g13za2gWMAzm2g52zvzcv

As an aside, we did not no it at the time, but my old man bought 1000 BTC at $8 just before Bitcoinica came online.  He didn't care.

[NotLambchop]

Very volume.

Huh. Sure you're looking at the right thing?
...

Pretty sure.  Also lol @"Chinese volume."
Not expecting any drama today.  Not to the upside, at least.  Been wrong before, tho

I believe you should stay all Fiat. In the meantime please entertain yourself by reading a nice nursery rhyme:

http://wolfstreet.com/2014/10/30/the-wrath-of-draghi-first-german-bank-hits-savers-with-negative-interest-rate/

Deutsche Skatbank, a division of VR-Bank Altenburger Land, which was founded in 1859, is not the biggest bank in Germany, but it’s the first bank to confirm what German savers have been dreading for a while: the wrath of Draghi.

Retail and business customers with over €500,000 on deposit as of November 1 will earn a “negative interest rate” of 0.25%. In less euphemistic terms, they have to pay 0.25% per annum to the bank for the privilege of handing the bank their hard-earned money or their business cash.

Cheers.

Isn't this what you "sound money" luddites want?   The bank is providing a service, it should be paid for it  

[Wandererfromthenorth]

Very volume.

Huh. Sure you're looking at the right thing?
...

Pretty sure.  Also lol @"Chinese volume."
Not expecting any drama today.  Not to the upside, at least.  Been wrong before, tho

I believe you should stay all Fiat. In the meantime please entertain yourself by reading a nice nursery rhyme:

http://wolfstreet.com/2014/10/30/the-wrath-of-draghi-first-german-bank-hits-savers-with-negative-interest-rate/

Deutsche Skatbank, a division of VR-Bank Altenburger Land, which was founded in 1859, is not the biggest bank in Germany, but it’s the first bank to confirm what German savers have been dreading for a while: the wrath of Draghi.

Retail and business customers with over €500,000 on deposit as of November 1 will earn a “negative interest rate” of 0.25%. In less euphemistic terms, they have to pay 0.25% per annum to the bank for the privilege of handing the bank their hard-earned money or their business cash.

Cheers.

Why lose 0.25% of your money in a year when you can use Bitcoin and lose 60% of your money in the same year 

[macsga]

Why lose 0.25% of your money in a year when you can use Bitcoin and lose 60% of your money in the same year 

You can also wait for the next Bail-In and let the banks own your >100,000Euros just like in Cyprus last year; remember?

@Lamb: Dood, why only 0.25? Convince them to get MOAR!!!!1 

[xyzzy099]

you "sound money" luddites

It's hilarious that the people promoting electronic, programmable virtual currency are the "Luddites" in your mind

[NotLambchop]

you "sound money" luddites

It's hilarious that the people promoting electronic, programmable virtual currency are the "Luddites" in your mind

The expression "sound money" was appropriated by goldbugs--the ones who want to go back to the gold standard.  It has nothing to do with electronic, programmable currency currently inflating @~10% per year.

Always happy to educate.


@macsga: I'll see what I can do.

[macsga]

you "sound money" luddites

It's hilarious that the people promoting electronic, programmable virtual currency are the "Luddites" in your mind

The expression "sound money" was appropriated by goldbugs--the ones who want to go back to the gold standard.  It has nothing to do with electronic, programmable currency currently inflating @~10% per year.

Always happy to educate.


@macsga: I'll see what I can do.

Lamb. Seriously. You're not Mario, are you?

[xyzzy099]

you "sound money" luddites

It's hilarious that the people promoting electronic, programmable virtual currency are the "Luddites" in your mind

The expression "sound money" was appropriated by goldbugs--the ones who want to go back to the gold standard.  It has nothing to do with electronic, programmable currency currently inflating @~10% per year.

Always happy to educate.


@macsga: I'll see what I can do.

As long as we are on the subject of education, you should know that Bitcoin is not inflating at all.  All 21M coins that ever will exist already exist in the protocol.

yw

[NotLambchop]

...
Lamb. Seriously. You're not Mario, are you?

No

...
As long as we are on the subject of education, you should know that Bitcoin is not inflating at all.  All 21M coins that ever will exist already exist in the protocol.
...

All fiat already exists in math.  As is the case with Bitcoin, not all of it has been released yet.



  ~Your Beneficent Reptilian Overlords.

[xyzzy099]

@xyzzy099:  All fiat already exists in math.  Like Bitcoin, not all of it has been released yet.

Really.  Can you point me to the math that limits the number of CNY that will exist on 17 July 2017?

[Chalkbot]

@xyzzy099:  All fiat already exists in math.  Like Bitcoin, not all of it has been released yet.

Really.  Can you point me to the math that limits the number of CNY that will exist on 17 July 2017?

The limit is the largest finite number.

[NotLambchop]

@xyzzy099:  All fiat already exists in math.  Like Bitcoin, not all of it has been released yet.

Really.  Can you point me to the math that limits the number of CNY that will exist on 17 July 2017?

Math is limitless, that's the beauty of it.  Unlike Bitcoin's inflation, which is algorithmically predetermined, fiat inflation can be adjusted as needed.

I also can't tell you how many BTC will exist on July 17, 2017.
Learn how Bitcoin works

[ChartBuddy]

Explanation

[xyzzy099]

@xyzzy099:  All fiat already exists in math.  Like Bitcoin, not all of it has been released yet.

Really.  Can you point me to the math that limits the number of CNY that will exist on 17 July 2017?

Math is limitless, that's the beauty of it.  Unlike Bitcoin's inflation, which is algorithmically predetermined, fiat inflation can be adjusted as needed.

I also can't tell you how many BTC will exist on July 17, 2017.
Learn how Bitcoin works

I'm pretty sure I know how it works.  You may not be able to predict the exact number, but the math restricts it to a pretty small range.  I'm pretty sure that no such math exists for CNY.

Inflation is never needed.  It is a tax that, for all intents and purposes, is paid only by the poor.

EDIT: Hey, notice how I was able to make my point w/o including a picture of ponies?  You should strive to emulate that kind of self-restraint

[NotLambchop]

...
Inflation is never needed.  It is a tax that, for all intents and purposes, is paid only by the poor.

>>>/pol

[janos666]

Very volume.

I am optimistic.



It will reach ~348 before it falls back to ~330.

All fiat already exists in math.  As is the case with Bitcoin, not all of it has been released yet.

All you need is to invent a math which allows the division by zero and you rule the world.

[Thomas-s]

...
Inflation is never needed.  It is a tax that, for all intents and purposes, is paid only by the poor.

>>>/pol

LMAO
Best poster on Bitcointalk.

[xyzzy099]

...
Inflation is never needed.  It is a tax that, for all intents and purposes, is paid only by the poor.

>>>/pol

LMAO
Best poster on Bitcointalk.

He is pretty damn clever.  Too bad he uses his powers for evil, trolling the bitcoin forums - but hey, the world needs super-villains too I guess