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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17879. (Read 26610925 times)

sr. member
Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
One reason price might follow difficulty is that mining should not be too profitable (because nothing should be too profitable, the world doesn't leave free money lying around). Therefore the price of Bitcoins can't rise too much above the cost of mining (counting equipment depreciation among the costs of course). The cost of mining is proportional to the difficulty (approximately). Therefore we might expect to see price proportional to difficulty.
...

Hal Finney, November 30, 2010, 09:46:21 AM

... Message from the future ... Smiley
dif has more than tripled in the past year, while price has doubled.
full member
Activity: 238
Merit: 100
One reason price might follow difficulty is that mining should not be too profitable (because nothing should be too profitable, the world doesn't leave free money lying around). Therefore the price of Bitcoins can't rise too much above the cost of mining (counting equipment depreciation among the costs of course). The cost of mining is proportional to the difficulty (approximately). Therefore we might expect to see price proportional to difficulty.
...

Hal Finney, November 30, 2010, 09:46:21 AM

... Message from the future ... Smiley
legendary
Activity: 2268
Merit: 1278
Today has not been the best day for me. The guy I was gonna trade half a dozen bitcoins with suddenly dropped off the face of the earth, so now I'm stuck with useless fiat instead of cheap coins. Can't get it back on kraken until sometime next week because banks break on weekends (they really need to fix that bug).

Sounds as if you do not have a large enough float.. whether that is BTC or cash.

I don't usually conduct the trade on the exchange until after I have already locked in the profitable trade on Local Bitcoins or directly... and that is that I have actually either received the bitcoins from the guy or I have received the fiat from the guy.

To do that, you have to have enough of a float that covers the full amount of bitcoins or fiat that you are trading and usually a bit more because of transfer times and other cushion issues that sometimes can get the money or the BTC in their proper locations and set up for the next trade.... that transferring money around can be a bit of a hassle and sometimes cause additional costs - that tend to be lessened, somewhat with having a decent float (and even then, it may be a bit cumbersome to manage with some unexpected costs, here and there)
Correct. It's a fixable problem and the loss today was not that much in the end, but still damn annoying that people just up and go radio silent like that.
legendary
Activity: 3066
Merit: 1188

Well Huobi's having a wee go at puncturing that rally, but it's not quite got the "push-it-off-the-cliff-already" destructive gusto it had yesterday. Maybe wants to build up a bit more of a head of steam first.
sr. member
Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
Today has not been the best day for me. The guy I was gonna trade half a dozen bitcoins with suddenly dropped off the face of the earth, so now I'm stuck with useless fiat instead of cheap coins. Can't get it back on kraken until sometime next week because banks break on weekends (they really need to fix that bug).

Sounds as if you do not have a large enough float.. whether that is BTC or cash.

I don't usually conduct the trade on the exchange until after I have already locked in the profitable trade on Local Bitcoins or directly... and that is that I have actually either received the bitcoins from the guy or I have received the fiat from the guy.

To do that, you have to have enough of a float that covers the full amount of bitcoins or fiat that you are trading and usually a bit more because of transfer times and other cushion issues that sometimes can get the money or the BTC in their proper locations and set up for the next trade.... that transferring money around can be a bit of a hassle and sometimes cause additional costs - that tend to be lessened, somewhat with having a decent float (and even then, it may be a bit cumbersome to manage with some unexpected costs, here and there)

he's not trying to service the local market, he's trying to buy bitcoins off of it.

it sounds to me like they agree on a price when stamps was bottomed, and then the seller failed to deliver, later today for unknown reasons.
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
Today has not been the best day for me. The guy I was gonna trade half a dozen bitcoins with suddenly dropped off the face of the earth, so now I'm stuck with useless fiat instead of cheap coins. Can't get it back on kraken until sometime next week because banks break on weekends (they really need to fix that bug).

Sounds as if you do not have a large enough float.. whether that is BTC or cash.

I don't usually conduct the trade on the exchange until after I have already locked in the profitable trade on Local Bitcoins or directly... and that is that I have actually either received the bitcoins from the guy or I have received the fiat from the guy.

To do that, you have to have enough of a float that covers the full amount of bitcoins or fiat that you are trading and usually a bit more because of transfer times and other cushion issues that sometimes can get the money or the BTC in their proper locations and set up for the next trade.... that transferring money around can be a bit of a hassle and sometimes cause additional costs - that tend to be lessened, somewhat with having a decent float (and even then, it may be a bit cumbersome to manage with some unexpected costs, here and there)
legendary
Activity: 2268
Merit: 1278
Today has not been the best day for me. The guy I was gonna trade half a dozen bitcoins with suddenly dropped off the face of the earth, so now I'm stuck with useless fiat instead of cheap coins. Can't get it back on kraken until sometime next week because banks break on weekends (they really need to fix that bug).
legendary
Activity: 1596
Merit: 1061
Smile
The Indian government is also confiscating gold taxing holdings of black money, which is making bitcoin more and more popular in India. Any gold that hasn't been taxed gets confiscated taxed if their government can find it.

FTFY

if the economy gets bad enough they will come hunting for gold owners, it has happened before

https://en.wikipedia.org/wiki/Executive_Order_6102

by President Franklin D. Roosevelt  1933

that same year the state of Judea declared war on Germany

https://archive.org/stream/JewsDeclareWarOnGermany1933/JewsDeclareWarOnGermany1933_djvu.txt
legendary
Activity: 3080
Merit: 1688
lose: unfind ... loose: untight
The Indian government is also confiscating gold taxing holdings of black money, which is making bitcoin more and more popular in India. Any gold that hasn't been taxed gets confiscated taxed if their government can find it.

FTFY
newbie
Activity: 39
Merit: 0
Bitcoin's gone up to $1080 in India. That might account for the little rise beyond $800 elsewhere.

https://cointelegraph.com/news/while-misleading-information-on-china-stalls-price-bitcoin-hits-1080-in-india



fantastic point we have here gentlemen.... how is that possible?? i just checked and 1 BTC = 67.570 INR    (do the math this is equal to 933.44 EURO)

can somebody explain this HUGE gap in price???

indians do not have access to cash and are limited to gold, so bitcoin is the next option. Indian Gold as well has a large difference to western markets

the 500 and 1000 rupee fiat dollars were removed from the economy about a month or 2 back

The Indian government is also confiscating gold, which is making bitcoin more and more popular in India. Any gold that hasn't been taxed gets confiscated if their government can find it.
legendary
Activity: 1596
Merit: 1061
Smile
Bitcoin's gone up to $1080 in India. That might account for the little rise beyond $800 elsewhere.

https://cointelegraph.com/news/while-misleading-information-on-china-stalls-price-bitcoin-hits-1080-in-india



fantastic point we have here gentlemen.... how is that possible?? i just checked and 1 BTC = 67.570 INR    (do the math this is equal to 933.44 EURO)

can somebody explain this HUGE gap in price???

indians do not have access to cash and are limited to gold, so bitcoin is the next option. Indian Gold as well has a large difference to western markets

the 500 and 1000 rupee fiat dollars were removed from the economy about a month or 2 back
legendary
Activity: 3080
Merit: 1688
lose: unfind ... loose: untight
The big-blockers ...

Ahh those bloody idiots are back  Undecided

I don't know who you are referring to as 'idiots', but we 'big blockers' have been here the whole time, and don't plan on leaving. Deal with it.

Quote
How big will the blocks need to be to "handle an increase in 100 million+ users"  Huh

Do you run a node? Do you ever stream video content? Are you aware that hypothetical 100MB blocks are no more resource intensive than SD video content?

Quote
yeah maths are hard.

Arithmetic ain't hard. It appears, however, that for some, thinking through the implications of the arithmetic calculations are out of their grasp.
hero member
Activity: 564
Merit: 508

Lets hope the trend is allowed to grow back and Huobi doesn't vandalise it again on the way up.


So far this upmove looks and feels like a simple bounce.

My opinion obviously.

I'd expect correction resuming between here ( 830$ )  and about 855$.
Not sure about its depth though.

legendary
Activity: 3066
Merit: 1188

Lets hope the trend is allowed to grow back organically and Huobi doesn't vandalise it again on the way up.
hero member
Activity: 564
Merit: 508
Oh no we are crashing upwards again..
900? ATH? new ATH ?

No I don't hope so.
If it goes too high it will have to pull downwards after...
I hope it goes for a small up trend. 800 for today then a slow rise to 850 or 900.
Damn I would be perfectly happy with a 850. Even just a 800 but stable would be cool IMHO

Topmost target for current move would be about 855$ in my opinion.
legendary
Activity: 889
Merit: 1013
Stop pretending that the present technology couldn't handle large blocks.

Stop pretending you know what you're talking about. There are hundreds of independent developers busy writing and testing code and weighing and discussing all the possible options. Out of that complicated process it was determined that Segwit is our best option right now and that large blocks (>4MB) are too risky for the stability and decentralized nature of the network at this point. After Segwit is deployed it will also be safer to increase the blocksize as Segwit also solves the quadratic scaling of hashed data. Hard forking now to larger blocks without first activating Segwit and solving quadratic hash scaling is just stupid and you'll also never get consensus for that. So why don't you stop complaining about Core and actually look and try to understand what it is they're doing? The divide in the community is purely based on ignorance and conspiracy thinking.

In order to stay on topic I speculate that this discussion will be censored and it will have a positive impact on the price Wink
hero member
Activity: 2464
Merit: 519
i dont know if some people are enjoying the crash except the altcoins. there are rumour of market manipulation but who will it have favored. A larger subset to suspend such an interrogation. Everyone hopes for the outcome and expect a flourishing build up what had started into the year, so to continue.
legendary
Activity: 1124
Merit: 1000
13eJ4feC39JzbdY2K9W3ytQzWhunsxL83X
Bitcoin's gone up to $1080 in India. That might account for the little rise beyond $800 elsewhere.

https://cointelegraph.com/news/while-misleading-information-on-china-stalls-price-bitcoin-hits-1080-in-india



fantastic point we have here gentlemen.... how is that possible?? i just checked and 1 BTC = 67.570 INR    (do the math this is equal to 933.44 EURO)

can somebody explain this HUGE gap in price???
legendary
Activity: 3431
Merit: 1233
what the world wants the world gets. only question is who will provide.

The world wants free money for everybody. But they will never get it because money must be scarce!
Spammers want unlimited space on the blockchain for free. But they will never get it because that will be the end of bitcoin as money!

hero member
Activity: 1876
Merit: 612
Plant 1xTree for each Satoshi earned!

If this was an ABC, then it's probably completed the C, and now it's building a triangle. Support could be tested over the next days, so a bit cheaper than right now is possible.

Aw c'mon mastertzup - you were willing to throw out $660 when we were at $1100 and many called you crazy!

I'd love to know whether the past few days market activity has shifted your number up, down, or unchanged.


If u keep listening to this guy... some day Tzupy will F'U. guud! Cheesy Cheesy

Just take everything he says with a pinch of salt.. Smiley
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