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

[JimboToronto]

I think I'm looking forward more to the eery silence of trolls during the next run-up than I am to the actual price rise.

Yes. They will evaporate I suspect!

Most perhaps, but the less intelligent, more antisocial ones like Trollchop will probably continue, at least until their shrinks get their meds right.

The ignore button is still effective for those unfortunate wretches.

[NotLambchop]

...
Why would a multi billion dollar conglomerate like Microsoft have to pander to such an insignificant currency as Bitcoin and such a small minority of users like us Bitcoiners?

Because it costs them nearly nothing, far less than they hope to get from (admittedly) nearly-irrelevant contingent like you Bitcoiners.

So they're using a payment processor.  So what?  They immediately convert fiat, we know!    They're definitely not hurting or needy for these measly sales.

I'm pretty sure they're way smarter than you, and know a thing or two about tech and business, than NotLambChop.

Large profits result from series of small profits.  That's how money is made.
Now go play your new vidya.

[NotLambchop]

...
Most perhaps, but the less intelligent, more antisocial ones like Trollchop will probably continue, at least until their shrinks get their meds right.
...

Who's a grumpy grampa this morning?  Is jimbo a grumpy grampa, hmm?
The nice doctor got your meds right, let's take them now before your sponge bath!

[lightfoot]

Invested in TCP/IP   No, unfortunately as you probably know that is not possible else one could've made a killing, really.

Um. I remember good old FTP software well, boy that was a fun ride.... :-)

[ChartBuddy]

Explanation

[ChuckBuck]

...
Why would a multi billion dollar conglomerate like Microsoft have to pander to such an insignificant currency as Bitcoin and such a small minority of users like us Bitcoiners?

Because it costs them nearly nothing, far less than they hope to get from (admittedly) nearly-irrelevant contingent like you Bitcoiners.

So they're using a payment processor.  So what?  They immediately convert fiat, we know!    They're definitely not hurting or needy for these measly sales.

I'm pretty sure they're way smarter than you, and know a thing or two about tech and business, than NotLambChop.

Large profits result from series of small profits.  That's how money is made.
Now go play your new vidya.

So answer me this, NotLambChop.  Why bother adding it as a payment?  Apple, Amazon, and Google haven't done it yet.

Very curious of company as successful as their's to just add it.  Adding Bitcoin won't make them any real profit, Why add it?

Think deeper, this is a Multi Billion dollar company, and please don't retort with "it costs them nothing".   

[brg444]

...
Why would a multi billion dollar conglomerate like Microsoft have to pander to such an insignificant currency as Bitcoin and such a small minority of users like us Bitcoiners?

Because it costs them nearly nothing, far less than they hope to get from (admittedly) nearly-irrelevant contingent like you Bitcoiners.

So they're using a payment processor.  So what?  They immediately convert fiat, we know!    They're definitely not hurting or needy for these measly sales.

I'm pretty sure they're way smarter than you, and know a thing or two about tech and business, than NotLambChop.

Large profits result from series of small profits.  That's how money is made.
Now go play your new vidya.

So answer me this, NotLambChop.  Why bother adding it as a payment?  Apple, Amazon, and Google haven't done it yet.

Very curious of company as successful as their's to just add it.  Adding Bitcoin won't make them any real profit, Why add it?

Think deeper, this is a Multi Billion dollar company, and please don't retort with "it costs them nothing".   

I think you're asking a little too much 

[findftp]

Just for the record.
Market bought at 317
Sell order at 327

327 was just a bit too high.
Market sold, and now waiting for the ultimate (2015-∞) bottom.

[NotLambchop]

...
Why would a multi billion dollar conglomerate like Microsoft have to pander to such an insignificant currency as Bitcoin and such a small minority of users like us Bitcoiners?

Because it costs them nearly nothing, far less than they hope to get from (admittedly) nearly-irrelevant contingent like you Bitcoiners.

So they're using a payment processor.  So what?  They immediately convert fiat, we know!    They're definitely not hurting or needy for these measly sales.

I'm pretty sure they're way smarter than you, and know a thing or two about tech and business, than NotLambChop.

Large profits result from series of small profits.  That's how money is made.
Now go play your new vidya.

So answer me this, NotLambChop.  Why bother adding it as a payment?  Apple, Amazon, and Google haven't done it yet.

Because the companies you've listed think Bitcoin is too embarrassing?  What point are you trying to make here?

Very curious of company as successful as their's to just add it.  Adding Bitcoin won't make them any real profit, Why add it?

Think deeper, this is a Multi Billion dollar company, and please don't retort with "it costs them nothing".  

A rational agent should take profit, no matter how trivial, when no risk is involved.  So yeah, it cost them nothing & they make money.
Not sure how this could be made any simpler.
Now run along & play your vidya.

[JimboToronto]

---

Think deeper

I think you're asking a little far too much 

ftfy

[NotLambchop]

[poops a little]

Oh, grampa  What are we gonna do with you...

This old chestnut again?

I'll say the same as I did 6 months ago or a month ago.

We'll probably reach our old ATH by mid summer, and hit anywhere from $7000 to $12,000 before crashing down to $2000-$2500, possibly before year's end.

We should be above $10,000 for good by this time next year.

Unless something comes along to break Bitcoin before then.

[Richy_T]

EDIT :: if we look at the graph assume that 1100 is the top and 270 is the bottom, can we safely assume that 350 is the desired price range

I wouldn't say that. 1100 was the result of many factors including unrestrained exuberance and MtGox shenanigans. It must also be remembered that that blue level moves quite often.

[brg444]

...
Why would a multi billion dollar conglomerate like Microsoft have to pander to such an insignificant currency as Bitcoin and such a small minority of users like us Bitcoiners?

Because it costs them nearly nothing, far less than they hope to get from (admittedly) nearly-irrelevant contingent like you Bitcoiners.

So they're using a payment processor.  So what?  They immediately convert fiat, we know!    They're definitely not hurting or needy for these measly sales.

I'm pretty sure they're way smarter than you, and know a thing or two about tech and business, than NotLambChop.

Large profits result from series of small profits.  That's how money is made.
Now go play your new vidya.

So answer me this, NotLambChop.  Why bother adding it as a payment?  Apple, Amazon, and Google haven't done it yet.

Because the companies you've listed think Bitcoin is too embarrassing?  What point are you trying to make here?

Very curious of company as successful as their's to just add it.  Adding Bitcoin won't make them any real profit, Why add it?

Think deeper, this is a Multi Billion dollar company, and please don't retort with "it costs them nothing".  

A rational agent should take profit, no matter how trivial, when no risk is involved.  So yeah, it cost them nothing & they make money.
Not sure how this could be made any simpler.
Now run along & play your vidya.

Nothing?

It cost them resources & time that could theoretically be used for more profitable ventures than the thrills of a couple Bitcoiners buying Xbox Ones on their website.

Surely you're not thinking they're making any significant profit with Bitcoin as it is right now  

[ChuckBuck]

...
Why would a multi billion dollar conglomerate like Microsoft have to pander to such an insignificant currency as Bitcoin and such a small minority of users like us Bitcoiners?

Because it costs them nearly nothing, far less than they hope to get from (admittedly) nearly-irrelevant contingent like you Bitcoiners.

So they're using a payment processor.  So what?  They immediately convert fiat, we know!    They're definitely not hurting or needy for these measly sales.

I'm pretty sure they're way smarter than you, and know a thing or two about tech and business, than NotLambChop.

Large profits result from series of small profits.  That's how money is made.
Now go play your new vidya.

So answer me this, NotLambChop.  Why bother adding it as a payment?  Apple, Amazon, and Google haven't done it yet.

Because the companies you've listed think Bitcoin is too embarrassing?  What point are you trying to make here?

Very curious of company as successful as their's to just add it.  Adding Bitcoin won't make them any real profit, Why add it?

Think deeper, this is a Multi Billion dollar company, and please don't retort with "it costs them nothing".  

A rational agent should take profit, no matter how trivial, when no risk is involved.  So yeah, it cost them nothing & they make money.
Not sure how this could be made any simpler.
Now run along & play your vidya.

Yup, just as I expected.  Same song and dance answer "cost them nothing", not answering the question still.

Microsoft will probably make a couple million dollars only from adding Bitcoin as a payment option, yet they plan on rolling out to European and global territorities, which strategically costs more to implement than the incoming sales that they plan to receive.  Why invest all this time, money, planning, and infrastructure that'll probably net Microsoft a loss?

I expected more from you, NotLambChop.  Thought you'd actually answer with an actual rebuttal and not just lay down like a turd.

[Richy_T]

...
No, it's called a negative feedback loop and should probably respond like any other damped oscillation.
...

Not all negative feedback loops result in damped oscillation.  Oscillators, for instance, are simply a negative feedback loop with a time delay.
This is sorta important to remember, and the reason not everything should be modeled on pendulum of a run-down clock.

Well, the time delay arises from the properties of the system. And it's true that not all negative feedbacks result in damped oscillations, those are unstable systems which has not been evidenced in either the price markets or the mining markets.

[cbeast]

270 was in the range nearly two years ago. Price is way undervalued due to PTSD caused by political kerfuffles.

[NotLambchop]

@ChuckBuck
Such butthurt on such a delightful morning...

[Richy_T]

Mining difficulty adapts to bitcoin price. If price drops to $10, difficulty will drop too.

Is just simple offer and demand. If market don't want to pay more than $10, miners can't spend more than $10 to mine them. Otherwise they would be mining at a big loss.
But if market want to pay $10,000 and miners only spend $100, that's ok because they are doing it at a profit. Of course more miners would join mining because high profits and then, after time, mining each bitcoin would be near $10,000 each.

Hint: Remember bitcoin could be mined for nearly $0 each (if just 1 computer mining and no demand at all). It is just offer and demand (rising price and difficulty) the one who makes mining more expensive.

Completely correct. This is important to remember for when the block reward goes away and miners come to rely on fees. It is the mining that will adapt. Though the block reward halving will affect bitcoin price as it will affect supply.

[NotLambchop]

...
Why would a multi billion dollar conglomerate like Microsoft have to pander to such an insignificant currency as Bitcoin and such a small minority of users like us Bitcoiners?

Because it costs them nearly nothing, far less than they hope to get from (admittedly) nearly-irrelevant contingent like you Bitcoiners.

So they're using a payment processor.  So what?  They immediately convert fiat, we know!    They're definitely not hurting or needy for these measly sales.

I'm pretty sure they're way smarter than you, and know a thing or two about tech and business, than NotLambChop.

Large profits result from series of small profits.  That's how money is made.
Now go play your new vidya.

So answer me this, NotLambChop.  Why bother adding it as a payment?  Apple, Amazon, and Google haven't done it yet.

Because the companies you've listed think Bitcoin is too embarrassing?  What point are you trying to make here?

Very curious of company as successful as their's to just add it.  Adding Bitcoin won't make them any real profit, Why add it?

Think deeper, this is a Multi Billion dollar company, and please don't retort with "it costs them nothing".  

A rational agent should take profit, no matter how trivial, when no risk is involved.  So yeah, it cost them nothing & they make money.
Not sure how this could be made any simpler.
Now run along & play your vidya.

Nothing?

It cost them resources & time that could theoretically be used for more profitable ventures than the thrills of a couple Bitcoiners buying Xbox Ones on their website.

Surely you're not thinking they're making any significant profit with Bitcoin as it is right now  

How much resources does it take to start using a payment processor for select digital content, with barely any PR--a few blog posts?  If you're suggesting that Microsoft made a mistake, that's possible too tho.  I'm on the fence re. this, convince me

[JimboToronto]

1100 was the result of many factors including unrestrained exuberance and MtGox shenanigans.

The same could be said for $32 in June 2011 or $266 in April 2013.

On and on it goes. MtGox may be gone but where speculation runs rampant, shenanigans will continue.

Some will bitch about it, some will stubbornly deny it, some will try to profit from it and some will simply wait it out.