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

[cbeast]

I cancelled another comment to emphasize this. We need cheap foolproof ASIC wallets.

ASIC wallets?

Hardened circuits dedicate to bitcoin protocol with all signing done offline.

[unent]

I cancelled another comment to emphasize this. We need cheap foolproof ASIC wallets.

ASIC wallets?

Hardened circuits dedicate to bitcoin protocol with all signing done offline.

They could enable people to store bitcoins without the need to worry about, or understand best computer security practices.

[molecular]

I cancelled another comment to emphasize this. We need cheap foolproof ASIC wallets.

ASIC wallets?

Hardened circuits dedicate to bitcoin protocol with all signing done offline.

Hmmm. I would say doing it on commodity hardware is good enough (trezor as an example).

There's not so many entities that can actually manufacture chips... there would be trust involved. Take the btchip hw wallet for example that runs on a 'trusted' java-based platform (if I'm not mistaken). The devs admit you have to trust the makers of the platform.

I'm not saying there are not trust issues with trezor, just that there would be some with your 'hardened circuits' approach, too.

[molecular]

I cancelled another comment to emphasize this. We need cheap foolproof ASIC wallets.

ASIC wallets?

Hardened circuits dedicate to bitcoin protocol with all signing done offline.

They could enable people to store bitcoins without the need to worry about, or understand best computer security practices.

I think the trezor is quite easy to use securely. It might still be too expensive for wide spread, but it certainly enables people to store bitcoins without the need to worry or understand best security practices.

I think what's holding back adoption is the lack of a clear need or want. As said above by someone else, this might change drastically with either a rising price ('want') or escalating troubles with the current financial system(s) ('need').

[tarmi]

when buffet just mentions bitcoin you know that a pump is incoming.

[ChartBuddy]

Explanation

[cbeast]

I cancelled another comment to emphasize this. We need cheap foolproof ASIC wallets.

ASIC wallets?

Hardened circuits dedicate to bitcoin protocol with all signing done offline.

They could enable people to store bitcoins without the need to worry about, or understand best computer security practices.

I think the trezor is quite easy to use securely. It might still be too expensive for wide spread, but it certainly enables people to store bitcoins without the need to worry or understand best security practices.

I think what's holding back adoption is the lack of a clear need or want. As said above by someone else, this might change drastically with either a rising price ('want') or escalating troubles with the current financial system(s) ('need').

The difference is you can do something about one but not the other.

[LFC_Bitcoin]

How do we know Warren Buffett isn't investing in BTC?

If he's not happy with his holding yet & needs to add to it why the hell would he speak positively about BTC?
The price would shoot up & he'd penalise himself.

[BlindMayorBitcorn]

BTW,  Any peeps who cry out "don't quote the trolls" this is simple debate, if you find it offensive, just go ahead and ignore me too.

Calling "troll" is one of the ways the early birds here deflect any sort of criticism.

Point taken.
I will refrain from using that term in the future.

Surely most people can tell the difference between honest discussion, including criticism, and obvious trolling such as spamming the same FUD repeatedly with an obvious intent to be annoying or insulting, or starting numerous negative threads with the same content, especially with several obvious sock-puppet accounts.

Even trolls are capable of occasional honest discussion. I don't think anyone minds worthwhile comments being quoted even when they come from well-established trolls.

Perhaps it's better to say "don't quote the trolling". Hate the sin, not the sinner.

As for "early birds" versus "noobs", perhaps it should be recognized that those with considerably more experience will have a different viewpoint from those who are relatively new to Bitcoin who form opinions based on limited experience or try to apply experience in other fields inappropriately to Bitcoin.

Of course more experienced posters must remain open to change and not allow themselves to develop a stubborn orthodoxy and reject new ideas.
________

In my observation, posters fall into three groups.

The "early birds" are those who were into Bitcoin before 2011, and saw the price go from less than a cent to over a dollar, bubble to over $30, crash to $2 and then bubble and crash twice more.

A second group are those who came on board in late 2011, 2012 and very early 2013 and witnessed (and participated in) the last 2 major bubbles.

The "noobs" are those who didn't really get into Bitcoin until later in 2013 after the last bubble to the ATH had already started.

Obviously those who've seen the price go from a penny to over $300 will have a different perspective from those who have seen it go from $1000 to less than $400 in barely a year.

Those in the middle group, including myself, will have a viewpoint somewhere in between those of the other groups..

Good points. I always look at the age of the poster's account after a comment and wonder: how confident can this one afford to be?  

[cbeast]

How do we know Warren Buffett isn't investing in BTC?

If he's not happy with his holding yet & needs to add to it why the hell would he speak positively about BTC?
The price would shoot up & he'd penalise himself.

“Confidential information has been omitted from the form 13F and filed separately with the commission.”

Translation: Mr. Buffett received special permission from the S.E.C. to keep secret his investment in I.B.M. — and possibly keep secret stakes in other companies that he is building positions in that we have yet to learn about.

He's done it before.

[brg444]

The Buffett quote is several months old. Care to explain why it is relevant again?

[unent]

The Buffett quote is several months old. Care to explain why it is relevant again?

Someone posted this link.

http://www.businessinsider.com/warren-buffett-money-tips-for-2015-2014-12

It seems he has stated bitcoin is shit for 2015 just like he did for 2014.

edit/

No, after reading the article I found out the author just repeated the months old Buffett quote.

[ChartBuddy]

Explanation

[yefi]

How do we know Warren Buffett isn't investing in BTC?

How do we know there's not a china teapot in an elliptical orbit about the Sun?

[Ibian]

How do we know Warren Buffett isn't investing in BTC?

How do we know there's not a china teapot in an elliptical orbit about the Sun?

That is a British teapot, good sir, with flowery motifs. And it orbits Mars.

[madmax6688]

Someone really doesnt want the price above 350 right now..

[madmax6688]

How do we know Warren Buffett isn't investing in BTC?

If he's not happy with his holding yet & needs to add to it why the hell would he speak positively about BTC?
The price would shoot up & he'd penalise himself.

I think he is and just doing this for the media.

[cbeast]

How do we know Warren Buffett isn't investing in BTC?

How do we know there's not a china teapot in an elliptical orbit about the Sun?

That is a British teapot, good sir, with flowery motifs. And it orbits Mars.

Obviously they are spy teapots violating the 1898 spy teapot accord.

[samson]

How does BTC reach the general public though?
What event will push BTC forward?

Hardly anybody is interested.
People compare BTC to the internet in 1995, will we follow the same path or are we destined for failure?

This comparison is often touted but it's misguided. Bitcoin is the first example of blockchain technology put to use.

Gopher is an early example of widespread usage of the internet. How many people still use 'gopher' ?

[brg444]

How does BTC reach the general public though?
What event will push BTC forward?

Hardly anybody is interested.
People compare BTC to the internet in 1995, will we follow the same path or are we destined for failure?

This comparison is often touted but it's misguided. Bitcoin is the first example of blockchain technology put to use.

Gopher is an early example of widespread usage of the internet. How many people still use 'gopher' ?

Gopher was an application layer protocol. As far as I know it ran on top of the TCP/IP protocol which we still use to this day.

Bitcoin is very similar to TCP/IP, and its network effect much, much stronger.