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

[ChartBuddy]

Explanation

[Phillis]

http://www.reddit.com/r/Bitcoin/comments/2lfjpk/changetip_is_causing_bitcoin_to_go_viral_right_now/

Will be interesting to see the effects of this.

Indeed, lets see if we can get some new bitcoin users

[justusranvier]

http://www.cityam.com/1415215686/bitcoin-bust-why-investors-should-abandon-doomed-cryptocurrency

   

 Monopolies were created by governments and do not arise in the free market absent government intervention

Not sure if serious.

http://mises.org/journals/rae/pdf/rae9_2_3.pdf

Natural monopoly theory is thoroughly debunked.

I don't get it, there are literally hundreds of examples for monopolies in free markets.

You misspelled "zero."

[Elwar]

http://www.cityam.com/1415215686/bitcoin-bust-why-investors-should-abandon-doomed-cryptocurrency

   

 Monopolies were created by governments and do not arise in the free market absent government intervention

Not sure if serious.

Deadly serious. I'm betting my life savings on it.

I don't get it, there are literally hundreds of examples for monopolies in free markets.

one example?


(I do know of just one)

[billyjoeallen]

http://www.cityam.com/1415215686/bitcoin-bust-why-investors-should-abandon-doomed-cryptocurrency

   

 Monopolies were created by governments and do not arise in the free market absent government intervention

Not sure if serious.

Deadly serious. I'm betting my life savings on it.

I don't get it, there are literally hundreds of examples for monopolies in free markets.

No there aren't. Dig under the surface and you can find government intervention everywhere. Take Microsoft for example. It is far from a monopoly even in the Operating system space, but Bill Gate's wealth is largely dependent on taxpayer-supported copyright, patent and trademark enforcement "intellectual property".  MS even has a lobying firm on K street in Washington D.C. to make sure copyright enforcement is built into trade treaties. Gates isn't even a good technologist. He's the son of a lawyer who re-marketed some crap he bought for a few thousand dollars called "Quick and Dirty Operating System" to IBM and  the government did most of the rest.

[janos666]

I like this slow creeping up to 350$ much more than huge jump and then crash . I think this price climb is worth more .

Double bottom first.

That happened already in the sense of certain moving averages based on certain points in that time frame. It didn't happen in the sense of raw numbers but there was a 30k sell wall last time which isn't very representative. So, unless somebody plans to emerge another similar wall and/or sell a similar amount during a short time frame in any public form, I wouldn't expect the raw numbers to shoot that far from the moving average. Thus, I guess it won't go down below 300$ any time soon. However, I am far from being sure enough to do a leveraged margin buy @340$. I am just saying that your second bottom is technically behind us, thus I wouldn't wait for it too long if it seems to be taking off.

Edit: LOL, I should have executed that buy instead of typing. It went up 6$ by the time I posted.

[NotLambchop]

...
I don't get it, there are literally hundreds of examples for monopolies in free markets.

No there aren't. Dig under the surface and you can find government intervention everywhere...

But dig a bit further down, and...  Nah.  Keep hatin' on your gubermints, earthlings.



  ~Your Beneficent Reptilian Overlords.

[abercrombie]

Not too late folks!  

Don't be this guy...   

[billyjoeallen]

http://www.cityam.com/1415215686/bitcoin-bust-why-investors-should-abandon-doomed-cryptocurrency

   

 Monopolies were created by governments and do not arise in the free market absent government intervention

Not sure if serious.

Deadly serious. I'm betting my life savings on it.

I don't get it, there are literally hundreds of examples for monopolies in free markets.

one example?


(I do know of just one)

I'll bite. What is it? Even the State itself, the ultimate monopoly, faces competition. People who seek to externalize costs soon find themselves at odds with most of the vast body of humanity.

[Wandererfromthenorth]

A little uptrend there, I think we can go to $355-$360 for now (before possibly resuming down).

[LFC_Bitcoin]

Up to 344 USD on coindesk now.

[Newbie1022]

Not too late folks!  

Don't be this guy...   

You had a coordinated pump of about 10,000 coins... and Stamp rose, what... 2 bucks. Ummm... have fun with that s---.

[Involution]

http://s17.postimg.org/8pye07jsb/brk.jpg

[FNG]

if this continues it could be epic. Lots of new users flowing in via changetip. Everyone likes a rising price..keep heading towards $400 and we'll be in business

[JorgeStolfi]

No there aren't. Dig under the surface and you can find government intervention everywhere. Take Microsoft for example. It is far from a monopoly even in the Operating system space, but Bill Gate's wealth is largely dependent on taxpayer-supported copyright, patent and trademark enforcement "intellectual property".  MS even has a lobying firm on K street in Washington D.C. to make sure copyright enforcement is built into trade treaties. Gates isn't even a good technologist. He's the son of a lawyer who re-marketed some crap he bought for a few thousand dollars called "Quick and Dirty Operating System" to IBM and  the government did most of the rest.

Quite correct.  Indeed there cannot be monopolies in a free market, by definition of the terms.

The confusion is that libertarians read "free" as "unregulated" (or "laissez-faire"), whereas it means "where suppliers and customers can freely enter the market and choose each other".   Unfortunately, unregulated markets quickly degenerate to monopolies or oligopolies, because the dominant suppliers will use their economic power (including by buying governments) to exclude competition and lock their customers in.

Microsoft is a good example: in the absence or regulations requiring open document format and interoperability, they were able to lock billions of users into their proprietary format.

[colour]

Bids are immediately getting refilled after a sell, asks are not. I'm switching over to bullish for the moment. Not convinced that this will be a sustainable rally though. Once the support from these massive bidwalls is removed I expect us to resume bleeding down again.

[billyjoeallen]

No there aren't. Dig under the surface and you can find government intervention everywhere. Take Microsoft for example. It is far from a monopoly even in the Operating system space, but Bill Gate's wealth is largely dependent on taxpayer-supported copyright, patent and trademark enforcement "intellectual property".  MS even has a lobying firm on K street in Washington D.C. to make sure copyright enforcement is built into trade treaties. Gates isn't even a good technologist. He's the son of a lawyer who re-marketed some crap he bought for a few thousand dollars called "Quick and Dirty Operating System" to IBM and  the government did most of the rest.

Quite correct.  Indeed there cannot be monopolies in a free market, by definition of the terms.

The confusion is that libertarians read "free" as "unregulated" (or "laissez-faire"), whereas it means "where suppliers and customers can freely enter the market and choose each other".   Unfortunately, unregulated markets quickly degenerate to monopolies or oligopolies, because the dominant suppliers will use their economic power (including by buying governments) to exclude competition and lock their customers in.

Microsoft is a good example: in the absence or regulations requiring open document format and interoperability, they were able to lock billions of users into their proprietary format.

On the contrary, Good Professor. It's Statist who conflate "regulated" with "state-regulated". Regulation is too important to be left to governments. It's in the economic best interest of industries to self-regulate when they are not tempted to externalize costs with the help of the State.

[Thomas-s]

380 inc.

[FNG]

a bunch of coins added down to 346.5

[derpinheimer]

Bids are immediately getting refilled after a sell, asks are not. I'm switching over to bullish for the moment. Not convinced that this will be a sustainable rally though. Once the support from these massive bidwalls is removed I expect us to resume bleeding down again.

Correct. Just a bigass bulltrap. 500+ Inc.