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

[klondike_bar]

http://lambsblog.com/wp-content/uploads/2013/11/Zombie.jpg  (image display removed due to graphic asshattery)

what the f---? not remotely what i want to see at christmas, thats just wrong.

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[brg444]

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

Not a mistake. It's called foresight and having a vision. Something you so evidently lack.

So Microsoft, having decided to let a payment processor pay it in $$$, is now a visionary?
But brg444, you said open source...  

Baby steps  

You know they can decide to hold whatever % of BTC they choose right?

"Microsoft has a long-term vision for bitcoin, BitPay and the blockchain. Starting with digital goods in the US is the logical first step, however, they want to expand to Europe and globally and add support for other products as part of that rollout."

Lol, do understand that Microsoft flatters you only to get into your pants wallet.

  as if I'd let them have my Bitcoins

[Fatman3001]

Clearly LambTroll has ABSOLUTELY NO IDEA what a damped oscillation is or how it may be implemented into a chaotic system. Also, he's using straw man paradigms -all the time- presenting false evidence, that conform his straw man theories, according to his will with only one goal: To occupy space in this thread and to add noise. Please don't fall into his trap. Just press ignore and let him live in oblivion.

AND PLEASE DON'T QUOTE THE TROLLZ!

Then perhaps you should stop quoting him.

[macsga]

Clearly LambTroll has ABSOLUTELY NO IDEA what a damped oscillation is or how it may be implemented into a chaotic system. Also, he's using straw man paradigms -all the time- presenting false evidence, that conform his straw man theories, according to his will with only one goal: To occupy space in this thread and to add noise. Please don't fall into his trap. Just press ignore and let him live in oblivion.

AND PLEASE DON'T QUOTE THE TROLLZ!

Then perhaps you should stop quoting him.

LOL. Touche.  

PS: Fixed

[ChuckBuck]

http://lambsblog.com/wp-content/uploads/2013/11/Zombie.jpg  (image display removed due to graphic asshattery)

what the f---? not remotely what i want to see at christmas, thats just wrong.

Sorry for the morbid picture, maybe this one is more appropriate for ole lamby?



From now on, only fabulous and positive vibes here.   

[NotLambchop]

.@ChuckBuck

[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.

There is also little evidence to suggest that damped oscillation model is useful in modeling markets or Bitcoin mining.

*shrug*. I see it quite often. Usually those TA people like to call it triangles or somesuch but I am not a TA guy so I could not attest to how "useful" it is. But I am not arguing for its usefulness for modelling, merely making observations.

[Richy_T]

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.

To an extent. Remember though that there are a fair number of irrational people out there, and the issue of the "dollar auction" is one to contend with.

IE: If you go below Capital investment+electricity/rent/staff costs then you are losing money on your farm, but you're losing less than if you just turned it all off and tossed it in the trash. Negative return but still logical. If you go below elec/rent/staff and still mine then you are insane and need mental help. :-)

Yep. Your sunk cost must be discounted. You plan and hope to recoup it when you set out but then the money is spent. I'm sure there are many miners out there caught in this trap.

[NotLambchop]

...
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.

There is also little evidence to suggest that damped oscillation model is useful in modeling markets or Bitcoin mining.

*shrug*. I see it quite often. Usually those TA people like to call it triangles or somesuch but I am not a TA guy so I could not attest to how "useful" it is. But I am not arguing for its usefulness for modelling, merely making observations.

Yeah, I see it often too & have as much faith as you in TA.
Waiting for the reward halving* & watching 1/2 of the mining gear go offline.  Ready-made 51% attack in the making
*If Bitcoin survives.  Just one of the possible scenarios, but something to think about.

[JorgeStolfi]

A rational agent should take profit, no matter how trivial, when no risk is involved.  So yeah, it cost [ Microsoft ] nothing & they make money.

Nothing?

It cost them resources & time that could theoretically be used for more profitable ventures

That would be the case if they actually accepted bitcoin. (The tax reporting and auditing hassles alone would not make it worth the trouble.)

On the other hand, in order to accept dollars through Bitpay, they basically have to open a merchant's account with Bitpay, and insert some extra HTML (provided by BitPay) in their payment page.  For accounting purposes, dolalrs received from BitPay are not different than any other dollar payments, and can just be added together with them.

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

They figured that bitcoiners are more likely than average people to spend money on video game points, so providing that option will make them more likely to do so.

The maximum amount of extra sales that they could get that way is 5 billion dollars, assuming that every bitcoiner will spend all his bitcoins on MS products, and the price does not crash.  Needless to say, those 5 billion dollars would actually come from the pockets of those who buy those bitcoins at the exchanges. Actually there is no limit, since those coin buyers can use those same coins to buy XBox points too, and so on.  

Of course not all bitcoiners will spend all their coins with MS.  But even if only 1 of every 1000 coins out there is used once in 2015, that would be 5 million dollars of extra sales per year -- with practically zero investment.

[Richy_T]

The inelastic supply seems to be an issue then. If people demand less, we should be producing less instead of flooding the market so quickly? This must be what creates the volatile bubble-bust cycles. Just like silver

It really isn't all that critical as long as it's predictable.

The point is it *is* critical--it is the basis of all modern economies.  All.

Hence Bitcoin.

[noobtrader]

wow @ market movement 

some movement... at this rate we will reach 350 soon 

btw btc in the news again today ::

http://www.sbnation.com/college-football/2014/12/26/7450623/bitcoin-bowl-mascots-giant-smiling-bitcoin-bitcoin-dog-other-bitcoin-dogs

http://techcrunch.com/2014/12/25/bitcoin-burning-man-and-the-gifting-economy/

http://betabeat.com/2014/12/nyc-could-start-taking-bitcoin-for-parking-ticket-payments/


keep bullish bitcoiner, keep it up !!!

[Richy_T]

Yeah, I see it often too & have as much faith as you in TA.
Waiting for the reward halving* & watching 1/2 of the mining gear go offline.  Ready-made 51% attack in the making
*If Bitcoin survives.  Just one of the possible scenarios, but something to think about.

I think we'll see a lot miners "hodling" on to their gear delusionally. OTOH, there will undoubtedly be a price rise which will mean that less than 50% of miners will need to switch off in order for the remainder to stay profitable.

[Son0fLamb]

Look at it go!  Seatbelts fastened?  Cigarettes extinguished?

[ChartBuddy]

Explanation

[arklan]

Yeah, I see it often too & have as much faith as you in TA.
Waiting for the reward halving* & watching 1/2 of the mining gear go offline.  Ready-made 51% attack in the making
*If Bitcoin survives.  Just one of the possible scenarios, but something to think about.

I think we'll see a lot miners "hodling" on to their gear delusionally. OTOH, there will undoubtedly be a price rise which will mean that less than 50% of miners will need to switch off in order for the remainder to stay profitable.

if i had a place to put them, i'd probably still be running my little block erupter farm. bout 50 units, something like 15 ghash... but if my math was right, it was like a lightbulb worth of electricity. why not, ya know? course keeping my pc running 24/7 is another subject, but i do that frequently enough as it is for downloads...

[Hiro_Y3k]

It's happening.

[inca]

Slow drift back upwards continues. What are the bets by monday we are at or higher than 333?

brg 1: lambchop 0

Lambchop you write eloquently but sadly your content is lacking. You would be a far more convincing troll if you actually countered arguments with thought out answers, rather than trying to sound superior and ducking the difficult bits.

[Fatman3001]

This thread is remarkable, not only because of the amount of trolls but also for the inability of the rest to ignore those trolls. Come to think of it, that is probably why there are so many of them.

[NotLambchop]

Slow drift back upwards continues. What are the bets by monday we are at or higher than 333?

brg 1: lambchop 0

Lambchop you write eloquently but sadly your content is lacking. You would be a far more convincing troll if you actually countered arguments with thought out answers, rather than trying to sound superior and ducking the difficult bits.

There are no difficult bits, just same old same old.  Asked and answered many times.
Your inability to understand/stubborn unwillingness to accept the answers is amusing, but otherwise irrelevant