Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 126. (Read 907229 times)

The only people I find that have heard of btc are people in finance.  This month I met a lawyer/cpa who although he knew of btc, his reaction made it clear he didn't understand and/or have interest in it. 

I'm trying to convince a friend to buy some btc and I recently met with their certified financial planner as I'm nobody.  Although the cfp had heard of btc he didn't know much about it.  I emailed some info and links before we met but he hadn't been able to follow the links as his home internet was down.  We spoke for 1/2 an hour and although it was a lot to take in he seemed to understand the basics and asked VERY GOOD questions.  When I left he was looking forward to learning more.  He basically does the same thing day in and day out which leads to boredom and now he has something new and exciting to stimulate his mind.  I'll see what happens when he gets back from vacation.

Short term US will value, but it may hurt the economy, and make people go to more traditional investing, so I guess short time good for Bitcoin.

But big interest will ruin even more their public finances, then we wil probably see a big crysis and Bitcoin gaining value

Since that would likely be enough to tip the US and the western world over the edge, I would say bullish for bitcoin    Unlikely to happen though, IMO.

I have met exactly zero people that have heard of bitcoin.  Granted, I don't get out much.  But it still brings home just how early this is in the adoption phase.  Crazy.  I will be financially set free before the overwhelming majority of people catch on, and yet I thought I was somewhat late to the party.  Amazing times ahead!

Question: what if the Federal Reserve starting to gradually increase the interest, say .5% per 6 months, what kind of impact on coins' price?

950,000% gain in 4 years = underperforming

Also: some investors won't invest in Bitcoin because their financial advisors don't recommend it, and their financial advisors don't recommend it because they can't get a commission out of selling it.

Also, lack of a clue, and fear of goxing.  Solved by renting a clue and a karpeles from a twinkie.

I ask at least one cab driver every week whether they have ever heard of bitcoin, and have done for the past year.  Keep in mind that these people are overwhelmingly recent immigrants who make regular remittances to family overseas, a first-order use case for bitcoin, which would save them as much as 10% on transfers of thousands of dollars each year.

Exactly one has ever heard of bitcoin.

I think things like changetip - a love button for the interent have potential towards mass adoption.

I'll just keep tipping people on youtube, twitter, reddit,... it's the best we can do to spread the bitcoin love

I thought the winky guy in the thread title meant he was being sarcastic about this being a "Quality TA Thread"  
Anyway, even though I am terrible at TA, I will give it a shot.


Last time there was similar movement, a sharp drop was followed by the moon.  The preceding pattern recurred, but there has been a failure to have a sharp drop and launch this time.  I suspect a major reason is bearish sentiment and recent price drop is due to failure to launch over the last few weeks.  Unfortunately the latest drop was not enough to wake the bulls, it was nowhere near as significant as the pre-launch drop in the previous bubble.

I think the most bullish scenario would be a flash crash to around 400.. As long as we are steady inside the last bear trend there's nothing to encourage cheap coins or panic buying.

Some investors cannot invest in Bitcoin because of regulatory concerns.  The EFT enables huge amounts of money to be invested with no friction

Delusional. Summer vacation lull is a myth, and this community puts way too much emphasis on the Twinklevoss ETF. Tell me why exactly investors will rush to buy in to an under performing asset just because it's packaged into an ETF? Everyone and their hairdresser is now aware of bitcoin... if they had wanted to invest in it, they would have invested in it. Clearly, the last 9 months are telling us something: they're not.

That's a very optimistic sentiment. But what do you say happens if we see another big wave of selling and slide into the $530s or $520s. I guess a lot of long positions are going to get margin called then. And I'd hate to state what happens then....

launch pad is clearly at 550 USD. Just waiting for the traders to come back from their holiday and some good anouncements: paypal/ebay adding bitcoin + COIN ETF approved by the SEC

As this is Risto's quality TA thread, could we please analyze the crash that occurred last night? Do we have some TA to account for the reasons or do we know nothing about the reasons?

1) They don't understand FIAT and how their wealth is being stolen. Each year their buying power goes down. They do not also understand BTC. If they understood money and BTC, they would look deeply in BTC. There is the whole inflation for war understanding as well.
2) Bitpay. But the reason for volatility is that we are finding the market. At this point I see BTC as an investment and a statement against corrupt governments and their money.
3) Sounds like they are missing the bigger picture. To each his own.
4) They are early adopters at this point. Only risk what you can.
5) Have not played with the ATM's but have heard mostly good things.

This process will play out, if you truly understand BTC you can probably easily answer the above questions, in depth of course. I was just giving short statements.
This is an experiment, as is government FIAT. Just make sure you yourself are not doing more harm than good because if you are asking the above question it
sounds like you really don't understand BTC and perhaps should not be a major spokesperson for it. I don't mean that in a bad way but stay within you abilities.

Its about sharing

Time will come where people will not going to want to be paid in FIAT, because by the time they arrive at the store, the value of their paycheck is halved...

Tell them that the next time they buy something from amazon, they can save 0.5 to 1% on their total purchase if they know how to use bitcoin. How can that be? - they will ask with doubt in their eyes. Simple: Bitcoin is an inherently superior technology compared to the current system, which allows credit cards to skim 3% or more off of every transaction. When you use bitcoin, the credit card doesn't get its 3% or more cut. That's why gyft.com is able to give you 3% reward when you buy an amazon gift card using bitcoin. (Compared to no reward when you use credit card.) And you don't have to worry about price volatility if you buy bitcoin at the same time (and therefore at the same price) that you spend it on the gift card.

Suppose you have a $100 and change purchase on amazon. Here's what you do, all within the span of 5 minutes or so (I've done this several times):
1. Go to gyft and set up a purchase for $100 gift card (you have to get it in increments of $5 or $10, I forget which). You will get a quote that it will cost X bitcoin (depending on the exchange rate; price is good for 15 minutes)
3. Buy exactly X bitcoin at the exchange of your choice. I use coinbase. Typically, it ends up costing 0.5 to 1 % more due to the spread -- i.e., it would cost around $100.5 or $101
3. Spend the X bitcoin on gyft for your amazon gift card.
4. Redeem your gift card on amazon at checkout using the serial number that gyft will provide. (You can do this pretty much instantly.)

Ta da! You will gain 3% reward on gyft.com, lose the 1% or whatever you get cash back from your credit card (I use discover which gives 1% reward), and lose 0.5 to 1% on the btc/usd price differential between coinbase and gyft, for a net gain 0.5 to 1%. The whole process currently takes me about 1-2 additional minutes at checkout and it gets faster the more I get accustomed to it.

Bonus #1: gyft sells gift cards for lots of places, not just amazon
Bonus #2: the above process is only going to get easier and cheaper with time, as the infrastructure around the bitcoin economy matures

All this problems existed for every new technology (electricity, internet, cars,...). All your issues will get resolved, just give it time - engineers are working on this. BTC is really in the early stage, but you can see that VC money has started to finance companies that have ideas and will find the right solutions. You have great advantage of knowing what BTC and it's potential and maybe you will find some practical solution for it and monetize it.

As for payment in BTC - I am getting paid via Paypal and I am going to ask my employer if he would be willing to pay me in BTC. I am currently partly working as translator and in this bussiness you get paid mostly via Paypal. As employers will get to know BTC they will force every translator to use it - it will happen, because Paypal is just too expensive and margins in this highly competitive bussiness are very tiny and change is just a matter of time. Let's say there are 100.000 translators (my guestimate) being paid via paypal or some other service which takes 5-10% of your or employers profit away and competion is driving your price down. What will happen? And this is just one type of bussiness - there are millions of freelancers on this world.