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

[ChartBuddy]

Explanation

[itod]

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.

Problem is people see real value in phone insurance, while they don't see it in bitcoin. Bitcoin is that thing being used for illegal things, remember? We were happy when Silk Road BTC demand brought the price up, now we have to pay the price for that, who knows how much time is needed for Bitcoin to wash that dirt.

[luigi1111]

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

A Beanie Baby is not useful even in 1 piece...

[billyjoeallen]

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...

At a predetermined and predictable rate. That is something that can be priced in. OTOH Central Banker counterfeiting (oh, excuse me, "quantitative easing") occurs whenever our energy costs and interest rates get too low to sufficiently enrich the oligarchs who control the fiat banking system.

If just 0.4% of the world population will want to own one BTC each, there will NEVER be enough to go around. We are the One Percenters of the new millennium, but so far we have done a worse job of managing our resources than the old oligarchs. We must get this volatility under control.

[JimboToronto]

...Beanie Baby...

There ya go. 

[findftp]

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

I had the same strategy, but cut my loose at 380.
Since then, unicorns and much profit.

[freebit13]

I've yet to see a Beanie Baby ATM!

[hdbuck]

seems quite ambitious, but wow.

http://slur.io/

How do people verify if the data sold is real and not fake?

Not sure, personally i already see a ton of ways to exploit this site as a seller. So i cant really see anyone sane seriosly considering buying anything.

who knows waht the future holds:

Two lessons here:

All information will be on the market.
This market will exist whether you like it or not.
Also, by will, I mean already.

We have already seen WikiLeaks and Edward Snowden open the floodgates for State secrets (which include your secrets). We have also already seen Bitcoin enable the Fappening marketplace of celebrity nude pictures.

And now a website promoted by WikiLeaks’s Twitter account wants to take it to the next level. Slur.io promises to be WikiLeaks 2.0:

 "Slur is an open source, decentralized and anonymous marketplace for the selling of secret information in exchange for bitcoin. Slur is written in C and operates over the Tor network with bitcoin transactions through libbitcoin. Both buyers and sellers are fully anonymous and there are no restrictions on the data that is auctioned. There is no charge to buy or sell on the Slur marketplace except in the case of a dispute, where a token sum is paid to volunteers."

For everything from trade secrets to State secrets to zero-day exploits to “the complete databases of social media sites like facebook,” there will be a price in Bitcoin.

I would recommend that anyone alive in 2014 not only assume that their secrets will be leaked, but live as though they have already been leaked.

http://nakamotoinstitute.org/mempool/meditations-on-cypherpunk-nightmares/

[JimboToronto]

I'm yet to see a Beanie Baby ATM!

I think that would be called a vending machine.

Maybe they have one in Japan. I've heard they have some very interesting vending machines there.

 

[Silverspoon]

If just 0.4% of the world population will want to own one BTC each, there will NEVER be enough to go around.

So bloodbath in 3, 2, 1?

[Silverspoon]

...Beanie Baby...

[bunch of pics]

There ya go.  

You know why everyone compares bitcoins with Beanie Babies, right?  Both based on the same gimmick - artificial scarcity

[findftp]

We must get this volatility under control.

We are.
Volatility is decreasing since day one (infinite volatility from zero to 0.01 cent).
You can't expect it to be a sudden flatliner one day.
We will reach a flat line when the market cap is representing it's true value, not it future value like now.
Right now we are speculating on the future value of bitcoin, therefor we go so much up and down because we have a hard time predicting what the future value will be.
On the other hand you can find a pretty straight trendline throughout the price untill now.
There will be some pumps and dumps on the way up, but when we get there the ride will become easier.
It also means that there won't be as much profit in the future as you can get right now.

[freebit13]

I'm yet to see a Beanie Baby ATM!

I think that would be called a vending machine.

Maybe they have one in Japan. I've heard they have some very interesting vending machines there.

 

Vending machines only give you Beanie Babies for fiat, not the other way around, so they are not quite the same... 

[JimboToronto]

You know why everyone compares bitcoins with Beanie Babies, right?  Both based on the same gimmick - artificial scarcity

Everyone? LOL

[freebit13]

You know why everyone compares bitcoins with Beanie Babies, right?  Both based on the same gimmick - artificial scarcity

Everyone? LOL

Yep, everyone without a clue...

[JorgeStolfi]

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

Ah, but that problem will be solved by Sidebeanies pegged 1:100000 to actual Beanies!

[LFC_Bitcoin]

Silverspoon = LambChop?

Clearly yes?

[JimboToronto]

Silverspoon = LambChop?

Clearly yes?

Why do you think I chose brony babies for the wall o' FUD pix I posted to Silverspoon?

[Silverspoon]

You know why everyone compares bitcoins with Beanie Babies, right?  Both based on the same gimmick - artificial scarcity

Everyone? LOL

OK, "every sane adult," if you wanna be a stickler.  

[JorgeStolfi]

I'm yet to see a Beanie Baby ATM!

I think that would be called a vending machine.
Maybe they have one in Japan. I've heard they have some very interesting vending machines there.
 

There were those machines in shopping malls, where the kid puts in a coin and gets to "mine" a stuffed animal with a robot claw.  Would that qualify as a beanie ATM + mining rig, all in one?

(Rushing to the patent office with the design of a coin-operated bitcoins-mined-while-you-wait machine.)