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

[magicmexican]

6 hour MacD - a bear trap, or a double bulltrap?

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[riiiiising]

So many high profile attacks these past few weeks involving Sony, and outages with Xbox Live, etc.

People hear bitcoin and "digital" currency. Having a website go down for a few hours is one thing... but nobody is going to be crazy enough to entrust the protocol to their savings. And the fact that value has been dropping all year doesn't help.

It's really incredible that we're still over $300 at this point. It's not going to last for long.

Why a guy called risssing acts like fallling?

And the fact that we had so many attacks but the protocol remains untouched(no transactions being reverted, private keys bruteforced easily, etc) should counts in favor of Bitcoin

Whether a private key can ever be brute forced or not, is a moot point. There are a dozen other avenues which are more effective at separating users from their wallets. I have seen security consultants by trade report on bitcoin that their private keys were hijacked from their PCs or other means, so just imagine how the average person on the street would feel about bitcoin?

Network security is a mysterious, scary thing for most people (and if it doesn't concern you, then you're just being naive). The world isn't ready to entrust their fortunes to a peerless digital protocol. And you've got to wonder if they ever will be.

[Silverspoon]

I saved your quote from yesterday saying we'll be sub 300 by the end of the week.
Going to look a bit stupid aren't you.

I saved your very first post

Hi guys,

I'm new here but not particularly new to BTC.

I've been investing for just under 6 months & have so far amassed 8.75 BTC, I bought most of my coins when the price was around £350 (GBP) , unsure what that is in dollars but I'm at a pretty bad loss currently.

Let's see here...
@current rate £350=$544.84 * 8.75 = $4767.35 - (314 * 8.75) = $2019.85 in the hole if no more slick trading was done in the interim.
Not too shabby, LFC_Bitcoin, not too shabby

[riiiiising]

So many high profile attacks these past few weeks involving Sony, and outages with Xbox Live, etc.

People hear bitcoin and "digital" currency. Having a website go down for a few hours is one thing... but nobody is going to be crazy enough to entrust the protocol to their savings. And the fact that value has been dropping all year doesn't help.

It's really incredible that we're still over $300 at this point. It's not going to last for long.

I saved your quote from yesterday saying we'll be sub 300 by the end of the week.
Going to look a bit stupid aren't you.

Why this like a football game for people like you? "The bulls vs the bears".

I just trying to provide quality analysis of the current situation, and given lukewarm public interest, along with high profile cyber attacks... I think there is a lot of unease about security related issues with the general public and net denizens, some of which will surely spill over to the sentiment around bitcoin, which is a completely digital protocol for people's ***MONEY*** and works somewhere in the cloud, in some mysterious way (general people have no idea how it works, and simply need to have faith their money is safe since it's not backed by any government or institution).

Think about all of that, and the weak bid side orders, it seems very likely that we'll break $300 soon. By end of the week is still very possible, IMO.

[JimboToronto]

Newbs reckoning BTC is all about being a good day-tarder....well, that is new I guess

I don't see that as being particularly new either.

[ssmc2]

I think the next couple of weeks will be exciting. 

[billyjoeallen]

It's really incredible that we're still over $300 at this point. It's not going to last for long.

Network security is a mysterious, scary thing for most people (and if it doesn't concern you, then you're just being naive). The world isn't ready to entrust their fortunes to a peerless digital protocol. And you've got to wonder if they ever will be.

The world doesn't have to be ready to entrust their entire life savings, but if just 0.2% of the six and a half billion people on the planet want to own just one BTC each, there won't be enough to go around.

[LFC_Bitcoin]

I saved your quote from yesterday saying we'll be sub 300 by the end of the week.
Going to look a bit stupid aren't you.

I saved your very first post

Hi guys,

I'm new here but not particularly new to BTC.

I've been investing for just under 6 months & have so far amassed 8.75 BTC, I bought most of my coins when the price was around £350 (GBP) , unsure what that is in dollars but I'm at a pretty bad loss currently.

Let's see here...
@current rate £350=$544.84 * 8.75 = $4767.35 - (314 * 8.75) = $2019.85 in the hole if no more slick trading was done in the interim.
Not too shabby, LFC_Bitcoin, not too shabby

I've lost loads of money.
I've been buying as I've gone along trying to bring my average price down.
Everything is in cold storage praying for a recovery.
It's all quite depressing atm.

[LFC_Bitcoin]

So many high profile attacks these past few weeks involving Sony, and outages with Xbox Live, etc.

People hear bitcoin and "digital" currency. Having a website go down for a few hours is one thing... but nobody is going to be crazy enough to entrust the protocol to their savings. And the fact that value has been dropping all year doesn't help.

It's really incredible that we're still over $300 at this point. It's not going to last for long.

I saved your quote from yesterday saying we'll be sub 300 by the end of the week.
Going to look a bit stupid aren't you.

Why this like a football game for people like you? "The bulls vs the bears".

I just trying to provide quality analysis of the current situation, and given lukewarm public interest, along with high profile cyber attacks... I think there is a lot of unease about security related issues with the general public and net denizens, some of which will surely spill over to the sentiment around bitcoin, which is a completely digital protocol for people's ***MONEY*** and works somewhere in the cloud, in some mysterious way (general people have no idea how it works, and simply need to have faith their money is safe since it's not backed by any government or institution).

Think about all of that, and the weak bid side orders, it seems very likely that we'll break $300 soon. By end of the week is still very possible, IMO.

Sorry for biting.
The current situation is pissing me off that's all.

[ChartBuddy]

Explanation

[criptix]

Maybe you have the wrong strategy?
It is never too late to change something

[billyjoeallen]

It's really incredible that we're still over $300 at this point. It's not going to last for long.

Network security is a mysterious, scary thing for most people (and if it doesn't concern you, then you're just being naive). The world isn't ready to entrust their fortunes to a peerless digital protocol. And you've got to wonder if they ever will be.

The world doesn't have to be ready to entrust their entire life savings, but if just 0.2% of the six and a half billion people on the planet want to own just one BTC each, there won't be enough to go around.

7 billion people, unless you have a eugenic set of ethics.

I'm using a conservative estimate. My point remains and is even strengthened if there are seven billion.

[aminorex]

So, if you are a hodler, you might want to promote Catholicism.  No contraception, but easy absolution for vice.  Lots of SR^N customers.

[paul2000]

So many high profile attacks these past few weeks involving Sony, and outages with Xbox Live, etc.

People hear bitcoin and "digital" currency. Having a website go down for a few hours is one thing... but nobody is going to be crazy enough to entrust the protocol to their savings. And the fact that value has been dropping all year doesn't help.

It's really incredible that we're still over $300 at this point. It's not going to last for long.

Only people who understand the implications of a thing being "decentralized" will "entrust the protocol to their savings". And that's the reason why smart people will be rich and the fools will be poor. IMO the implication is that Bitcoin will be one of the few things, not created by nature, that can be trusted. And in a world with increasing distrust everywhere, Bitcoin will be one of the last safe places to go.

[Silverspoon]

The world doesn't have to be ready to entrust their entire life savings, but if just 0.2% of the six and a half billion people on the planet want to own just one BTC each, there won't be enough to go around.

You know, if just .2% of the people decided to own just one Beanie Baby each, there'd be a bloodbath, right?  Fortunately, shit ain't happening, so we're pretty safe.

[freebit13]

You can't split a Beanie Baby into 100,000,000 pieces and still have them be useful...

[gnode]

Saw in Wired that Americans spend $4.8 billion on smartphone insurance per year or $13 million a day.

That is just insurance against theft and damage.

10% of that $13 million is enough to buy all newly minted bitcoins in a day.

[billyjoeallen]

So, if you are a hodler, you might want to promote Catholicism.  No contraception, but easy absolution for vice.  Lots of SR^N customers.

The problem with being a hodler, my friend, is that we have a responsibility to reduce volatility. We day traders are the decentral bankers of this new system. If we don't sell enough at the tops, we can't have enough fiat to scoop up the cheap coins during the crashes. The beauty of Bitcoin is that we have an incentive to do what we ought to be doing anyway, unlike central bankers.

Central bankers throughout the world are gearing up for another round of money printing. It has already started in Japan. To men with only a hammer, every problem looks like a nail. To men with only a printing press, every solvency issue looks like a liquidity issue.

[Silverspoon]

You can't split a Beanie Baby into 100,000,000 pieces and still have them be useful...

If you're impressed by splitting stuff into 100,000,000 pieces, try a clonecoin.  Or start one yourself - since the initial value is going to be zero, the upside is infinitely better than bitcoin

[Silverspoon]

Central bankers throughout the world are gearing up for another round of money printing.

Bitcoin's has been doing nothing but printing money since the day it was born.  glass houses and stones and all...