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

[brg444]

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There exist many ways to implement an internet packet transmission/communication protocol. TCP/IP protocol is one.

In the same way, there are many implementations of cryptographic value transmission protocols. The Bitcoin (BTC) protocol is one.

For reasons of network effect it happens that in each case only one eventually "win" and becomes the standard protocol.

I and many here are invested in the Bitcoin (BTC) protocol, the only one with any kind of significant network effect.

Lol, so you've invested in TCP/IP?  How much are the owners of TCP/IP getting for their investment, and who do I owe money to for using it?
Everything has a significant network effect, until it doesn't.  Otherwise all the shitcoiners would be farting through silk by nao.

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

So far the Bitcoin network effect is still strong so anything you say is fabulation & FUD.

Impressive argumentation though, not quite convincing but certainly up to your standards  

[inca]

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!

[NotLambchop]

Inca's second post on this forum, note date

Bears back to caves. I bought on localbitcoins in the UK near the (hopefully) bottom.

Bitcoiners.  Always good for a chuckle.

[ChuckBuck]

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

Except you didn't invest in TCP/IP, which is as free to use as Bitcoin code.  You invested in

-snip-

We invested in Microsoft?  I thought it was the other way around?  Didn't MS start adopting Bitcoin just recently?

No, you did not invest in Microsoft, and Microsoft didn't invest in you.
Your pic shows that Microsoft is accepting dollars through a payment processor--that's not an investment.
Basic misunderstandings such as the one I've just cleared up are likely responsible for finance enthusiasts such as yourself "investing" in BTC

Microsoft is "invested" in Bitcoin for the long haul:

http://www.coindesk.com/bitpay-microsoft-aggressive-global-vision-bitcoin/

You don't understand how life works.
It costs Microsoft nothing to humor you Bitcoiners with rosy PR, and look--you've already paid them for doing it

I think it's the other way around.  I'm not sure you understand how things or life works in general.

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?

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.

[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]

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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]

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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]

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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]

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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]

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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]

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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]

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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]

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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.