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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1648388 times)
justusranvier
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March 28, 2013, 03:30:45 PM
 #16281

I can use Bitcoin to store wealth
Actually you can't store wealth with Bitcoin or anything else because wealth is not storable.

Because the number of Bitcoins can not be arbitrarily increased a saved bitcoin balance will retain or even increase in purchasing power over time ceteris paribus.
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mccorvic
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March 28, 2013, 03:31:28 PM
 #16282

Actually there is quite a lot you can already buy with bitcoins at the moment.

BitcoinStore, Mega, Reddit, Wordpress, Amazon fulfillment integration, Gold, Silver, etc.

And we are only just getting started.

Heh, it's funny because you think that's a lot. If that's a lot, how do you characterize every other commodity and currency?

Exactly. It's only the beginning.  Thanks for agreeing.

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deeplink
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March 28, 2013, 03:32:08 PM
 #16283

Actually there is quite a lot you can already buy with bitcoins at the moment.

BitcoinStore, Mega, Reddit, Wordpress, Amazon fulfillment integration, Gold, Silver, etc.

And we are only just getting started.

Heh, it's funny because you think that's a lot. If that's a lot, how do you characterize every other commodity and currency?

I don't think it's that much in comparison, but it is a clear sign of the potential. And I don't think that potential is all priced in yet.
mp420
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March 28, 2013, 03:32:40 PM
 #16284

LMAO. I am willing to write PUTs for $50 expiring Dec 2013. How many you want? What price?

No need, I'll just sell and buy BTC.
Zomdifros
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March 28, 2013, 03:33:12 PM
 #16285

I can use Bitcoin to store wealth
Actually you can't store wealth with Bitcoin or anything else because wealth is not storable.

Because the number of Bitcoins can not be arbitrarily increased a saved bitcoin balance will retain or even increase in purchasing power over time ceteris paribus.

Agreed, I think that is acceptable.

BitPirate
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March 28, 2013, 03:35:13 PM
 #16286

Hah, just wait a few years to see who is really crazy around here!  Cheesy
I have been waiting a few years, and will continue to wait many many more years. Realize that it took over 2 years to get a few lowly internet freemium services to even consider BTC as a legitimate form of money. You're expecting what in a "few years" (and define "few")?

See I'm in it for the long haul, but I'm not about to lose my value over inane speculative bubbles. You just got here, and seem to already believe this is a get rich quick scheme. You're part of the speculative bubble. Just don't get caught at the top.

Hey Crazy -- if you really are on board with BitCoin, don't deride it's successes. You and I both know that WordPress and Reddit aren't "lowly freemium services". If you know anything about the Internet, you know that right now freemium and microtransactions are the business model du jour -- many big established players want a piece of the microtransaction market. WordPress is no minnow.

Yes, it could be a speculative bubble -- yes it could be unwise for some people to overextend themselves on it. But do we need to read this shit? It's like the sober geeky kid crashing a bong party with leaflets on lung cancer and schizophrenia. No-one wants to hear it.

As far as I can see, most in here are sober investors with big sums of money on the table. You can be sure that they are asking these same questions themselves every day.

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March 28, 2013, 03:37:56 PM
 #16287

You can be sure that they are asking these same questions themselves every day.

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TsuyokuNaritai
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March 28, 2013, 03:40:02 PM
 #16288


Actually there is quite a lot you can already buy with bitcoins at the moment.

BitcoinStore, Mega, Reddit, Wordpress, Amazon fulfillment integration, Gold, Silver, etc.

And we are only just getting started.


You can also now pay local government with bitcoin.

http://www2.egovlink.com/press-release-bitcoin.cfm

Bears, stop and think about that for a second...  Shocked

Crazy
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March 28, 2013, 03:41:51 PM
 #16289

Hey Crazy -- if you really are on board with BitCoin, don't deride it's successes. You and I both know that WordPress and Reddit aren't "lowly freemium services". If you know anything about the Internet, you know that right now freemium and microtransactions are the business model du jour -- many big established players want a piece of the microtransaction market. WordPress is no minnow.

Yes, it could be a speculative bubble -- yes it could be unwise for some people to overextend themselves on it. But do we need to read this shit? It's like the sober geeky kid crashing a bong party with leaflets on lung cancer and schizophrenia. No-one wants to hear it.

As far as I can see, most in here are sober investors with big sums of money on the table. You can be sure that they are asking these same questions themselves every day.
I'm not deriding the successes, I just don't believe they command $100 valuation, or even $50. Probably closer to $35 or $40. But that's an opinion so take it for what it is.

Regarding your latter points, sorry to crash the circle jerk.
rpietila
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March 28, 2013, 03:46:35 PM
 #16290

You can also now pay local government with bitcoin.

http://www2.egovlink.com/press-release-bitcoin.cfm

Bears, stop and think about that for a second...  Shocked

I am no bear, but I paused...






...and decided that this is big. So far the biggest I have seen is a United Nations organisation taking payment in bitcoin. We are just waiting for a full-scale acceptance by the taxman, then it is pretty much done.

BitPirate
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March 28, 2013, 03:47:52 PM
 #16291

Hey Crazy -- if you really are on board with BitCoin, don't deride it's successes. You and I both know that WordPress and Reddit aren't "lowly freemium services". If you know anything about the Internet, you know that right now freemium and microtransactions are the business model du jour -- many big established players want a piece of the microtransaction market. WordPress is no minnow.

Yes, it could be a speculative bubble -- yes it could be unwise for some people to overextend themselves on it. But do we need to read this shit? It's like the sober geeky kid crashing a bong party with leaflets on lung cancer and schizophrenia. No-one wants to hear it.

As far as I can see, most in here are sober investors with big sums of money on the table. You can be sure that they are asking these same questions themselves every day.
I'm not deriding the successes, I just don't believe they command $100 valuation, or even $50. Probably closer to $35 or $40. But that's an opinion so take it for what it is.

Regarding your latter points, sorry to crash the circle jerk.

LOL

As I said in the other thread though -- it is quite reasonable to speculate on the future value of a commodity, not the current value.

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March 28, 2013, 03:51:46 PM
 #16292

You can also now pay local government with bitcoin.

http://www2.egovlink.com/press-release-bitcoin.cfm

Bears, stop and think about that for a second...  Shocked

I am no bear, but I paused...






...and decided that this is big. So far the biggest I have seen is a United Nations organisation taking payment in bitcoin. We are just waiting for a full-scale acceptance by the taxman, then it is pretty much done.

Agree, very surprised to see a local government with this kind of foresight. I think this announcement should generate quite a bit of excitement -- and rightly so, if other civil services decide to take advantage too.

Richy_T
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March 28, 2013, 03:52:22 PM
 #16293


Actually there is quite a lot you can already buy with bitcoins at the moment.

BitcoinStore, Mega, Reddit, Wordpress, Amazon fulfillment integration, Gold, Silver, etc.

And we are only just getting started.


You can also now pay local government with bitcoin.

http://www2.egovlink.com/press-release-bitcoin.cfm

Bears, stop and think about that for a second...  Shocked

Not really different than the "Pay for pizza" thing. Just a shell converting money.

Don't get me wrong, I think these services are a good stepping stone but they are only second tier importance compared to direct exchange of bitcoin for goods and services.

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Piper67
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March 28, 2013, 03:54:52 PM
 #16294

You can also now pay local government with bitcoin.

http://www2.egovlink.com/press-release-bitcoin.cfm

Bears, stop and think about that for a second...  Shocked

I am no bear, but I paused...






...and decided that this is big. So far the biggest I have seen is a United Nations organisation taking payment in bitcoin. We are just waiting for a full-scale acceptance by the taxman, then it is pretty much done.

Agree, very surprised to see a local government with this kind of foresight. I think this announcement should generate quite a bit of excitement -- and rightly so, if other civil services decide to take advantage too.

It isn't the local government, it's egovlink, which provides services to MULTIPLE local governments, such as bill payments, tax collection and so on. What the permabears fail to see is that this kind of service, the intermediaries, are the ones that are growing the Bitcoin economy exponentially.

I had never bought anything on Amazon. Today I did, with Bitcoin, through bitcoinrunner.com.

Oh well, failures of the imagination are nothing new, really.
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March 28, 2013, 03:56:16 PM
 #16295

You can be sure that they are asking these same questions themselves every day.

24/7


Exactly this. Right now, 10% total loss, 30% dreadful stagnation, 60% full-blown acceptation.

I'm not deriding the successes, I just don't believe they command $100 valuation, or even $50. Probably closer to $35 or $40. But that's an opinion so take it for what it is.

Your numbers are unconvincing. A total value of $400 to $500 million for a technology with this potential and excitement in the marketplace doesn't add up at all. In 2011, perhaps, but not now.

EnergyVampire
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March 28, 2013, 04:11:38 PM
 #16296

Any bears feeling like to sell me some call options? Escrowing through bitcoin-otc or forum moderators.

I'm not a bear but I'm willing to sell you some call options, escrowing through forum moderators works for me.
As a miner I wouldn't mind locking in this price range.  Smiley

Expiry: Friday 2013-06-28 11:59 UTC
Strike: $250
Style: European
Premium: 30%

I'm a small miner so I don't have too many coins. How many coins per call are you looking for? Are the terms reasonable? counter-offer?

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March 28, 2013, 04:45:46 PM
 #16297


Bitcoin will need this kind of services as long as my salary is paid in euros, and that all prices are made in euros or dollars.

Oh for sure. I just feel that this kind of thing only advances bitcoin a fraction compared to systems that actually use bitcoin for trade.

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thoughtfan
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March 28, 2013, 05:18:27 PM
 #16298

The Expensify news has being doing the rounds but I'm finding Falkvinge's take on it intriguing.

If you have a machine on 24/7 why not have a full Bitcoin client running on it to support the network?
zkay
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March 28, 2013, 05:31:26 PM
 #16299

Somebody needed some cash? Or prelude to a bigger dump?


Currently trying to learn ruby on rails - - coding is the future. The future is now.

Donations appreciated: 1JFQhMBERjQ6BBGof6YAGCx33SngK4R9Ag
TomRado
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March 28, 2013, 05:41:20 PM
 #16300

How did that not move the price even a bit?

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