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

[lyth0s]

I am certainly enjoying accumulating more XMR at this level.  At some point I will just buy it all.  Not there yet, however.

Really?

I've been enjoying the up and downs, and taking advantage when I can, but I've not seen much development taking place. I was getting the impression that it's a dead coin...

Development is one of the top things it has going for it actually. Monero just got a DB blockchain implementation so the whole thing isnt stored in memory anymore. The devs also just developed an online wallet for Monero (XMR) https://mymonero.com/ and are also currently working on a GUI wallet.

The development team is amazing and they have some big funders to help support its continued growth and development.

[ChartBuddy]

Explanation

[JayJuanGee]

what a deja vu, the same questions and discussions like back in june  

Indeed, you could literally go back to this thread in June and all speculation regarding what will happen pre and post auction is there. Its like groundhog day 

Sad part is that events will unfold in the same groundhog day style, as the discussion is repeating.

I'm NOT sure whether it is sad.

Likely the auction time will be similar.  We are going to have continued depressed prices until thursday and possibly even an additional dump to $350-ish.. then after the auction, the price will go up. 

On the other hand, I doubt that we are going to get (after the auction) a subsequent dump of Bitcoins to bring the price below $350.. price will probably remain above $400 after the auction (but never say never in bitcoinlandia)

[JorgeStolfi]

News say that [ Tim Draper ] is taking part in a syndicate.  Doesn't that mean that he intends to buy less than 1 lot (1000 BTC)?
https://medium.com/@MirrorHQ/mirror-creates-syndicate-for-the-december-2014-usms-bitcoin-auction-45870def4f91

Possibly, he could do both?  Participate in the syndicate and also have his own individual bids... but maybe syndicates would NOT allow both?

A syndicate is interesting for bidders who cannot afford to bid for an entire lot (1000 BTC, correct?).  I understand that the syndicate organizers combine small bids of several clients into 1000-BTC bids, perhaps providing their own bids to fill the gaps.

If someone intends to buy several thousand BTC,  I don't see any obvious advantage in joining a syndicate.  Is there?

Perhaps he intends to buy exactly 7013 BTC, so he will bid for 7 lots, and join a syndicate for the last 13 BTC.

Perhaps he is taking part in the syndicate just to lend it his prestige.

[fonzie]

Outbreak iminiment!  

Edit: China

[aminorex]

Outbreak iminiment!  

Edit: China

A break-out would be over 450 or under 350.  An outbreak would be ebola.

[JayJuanGee]

News say that [ Tim Draper ] is taking part in a syndicate.  Doesn't that mean that he intends to buy less than 1 lot (1000 BTC)?
https://medium.com/@MirrorHQ/mirror-creates-syndicate-for-the-december-2014-usms-bitcoin-auction-45870def4f91

Possibly, he could do both?  Participate in the syndicate and also have his own individual bids... but maybe syndicates would NOT allow both?

A syndicate is interesting for bidders who cannot afford to bid for an entire lot (1000 BTC, correct?).  I understand that the syndicate organizers combine small bids of several clients into 1000-BTC bids, perhaps providing their own bids to fill the gaps.

If someone intends to buy several thousand BTC,  I don't see any obvious advantage in joining a syndicate.  Is there?

Perhaps he intends to buy exactly 7013 BTC, so he will bid for 7 lots, and join a syndicate for the last 13 BTC.

Perhaps he is taking part in the syndicate just to lend it his prestige.

Your thinking on this point regarding possible motivations is NOT too separated from mine, yet I am NOT sure whether there are various rules once a bidder is involved in a syndicate.

Being involved in a syndicate could lend prestige, but also be a way to have an alternative way to keep a finger on the pulse of the situation from another perspective and another information source.  I would imagine that the syndicate may get pissed off if he participates, and then if he were to bid separately for all or most of the coins (and win them like last time).

So, maybe there is just too much speculation here about motivations that may NOT be too central to what is going to happen to Thursday's auction or Tim Draper's specific role in such?

[ChartBuddy]

Explanation

[shmadz]

I am certainly enjoying accumulating more XMR at this level.  At some point I will just buy it all.  Not there yet, however.

Really?

I've been enjoying the up and downs, and taking advantage when I can, but I've not seen much development taking place. I was getting the impression that it's a dead coin...

Development is one of the top things it has going for it actually. Monero just got a DB blockchain implementation so the whole thing isnt stored in memory anymore. The devs also just developed an online wallet for Monero (XMR) https://mymonero.com/ and are also currently working on a GUI wallet.

The development team is amazing and they have some big funders to help support its continued growth and development.

Thanks, I'm really not a fan of the online wallets thing tho. Especially when it's just some website that I have to trust not to just disappear someday...

I've been hearing about the impending gui wallet implementation since I first heard of Monero, it just seems fishy to me that something relatively simple like a gui skin for the core wallet client would take so long.

Still have my fingers crossed for the success of this project, but I'm very skeptical at this point.

[ChartBuddy]

Explanation

[lyth0s]

I am certainly enjoying accumulating more XMR at this level.  At some point I will just buy it all.  Not there yet, however.

Really?

I've been enjoying the up and downs, and taking advantage when I can, but I've not seen much development taking place. I was getting the impression that it's a dead coin...

Development is one of the top things it has going for it actually. Monero just got a DB blockchain implementation so the whole thing isnt stored in memory anymore. The devs also just developed an online wallet for Monero (XMR) https://mymonero.com/ and are also currently working on a GUI wallet.

The development team is amazing and they have some big funders to help support its continued growth and development.

Thanks, I'm really not a fan of the online wallets thing tho. Especially when it's just some website that I have to trust not to just disappear someday...

I've been hearing about the impending gui wallet implementation since I first heard of Monero, it just seems fishy to me that something relatively simple like a gui skin for the core wallet client would take so long.

Still have my fingers crossed for the success of this project, but I'm very skeptical at this point.

A DB Blockchain is 100x more useful than a GUI wallet is. Without the DB blockchain most lower performance computers could not open the wallet at all or experience major lag issues.

Blockchain.info has what...2 million wallets? yes some people will have many of those wallets, but whether or not we decide to use them, many other people will. Many other people will even store their bitcoins with circle or coinbase. I think that is dangerous, but at least that option is there for the people who aren't smart enough to control their own wealth.

It's all baby steps man. Rome was not created overnight, neither was bitcoin and neither is Monero.

[hdbuck]

Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

[ChartBuddy]

Explanation

[mymenace]

Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

prediction
debt ceiling to be raised world economy collapses march 2015

[mymenace]

Explanation

dat wall 5000btc 360, 12000btc 300    bitstamp

[lyth0s]

Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

prediction
debt ceiling to be raised world economy collapses march 2015

Why March 2015? That is actually my predicted date for reaching $1,000+ by again.

[bambou]

Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

prediction
debt ceiling to be raised world economy collapses march 2015

Why March 2015? That is actually my predicted date for reaching $1,000+ by again.

[lay785]

Explanation

dat wall 5000btc 360, 12000btc 300

20k to 300 on bitfinex

[ChartBuddy]

Explanation

[mymenace]

Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

prediction
debt ceiling to be raised world economy collapses march 2015

Why March 2015? That is actually my predicted date for reaching $1,000+ by again.

heard a story about an economist that has predicted every crash and has predicted march 2015 to be the biggest of them all

as well recent stocks/commodities show a big decline