Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18349.

Holliday

legendary

Activity: 1120

Merit: 1012

Quote from: JimboToronto on August 04, 2016, 09:42:06 AM

Once again, my heart goes out to all those who lost coins at Finex

Your have a kinder heart than I.

My heart goes out to all those Bitcoiners who, after countless exchange failures and hacks, understood the risks of holding large IOUs with third parties, yet still had to watch their asset drop in value as the market priced in (is pricing in) those events. (Of course some will argue this was going to happen to the market anyway.)

The unfortunate thing about society is that everyone has to take the bad along with the good, and when stupid people get together and fuck shit up, everyone pays the price. Perhaps I'm cold hearted, or even a pessimist, but I don't understand this forgiveness when everyone has to bear the burden of the irresponsible.

To be clear, while shitty things do happen quite a lot in bitcoinlandia, I'm speaking more generally here, and these types of "everyone pays" events happen all the time in the grand scheme of things.

JayJuanGee

legendary

Activity: 3948

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: DeathAngel on August 04, 2016, 07:50:37 AM

Quote from: empowering on August 04, 2016, 07:48:06 AM

Shitty Tuesday followed by Super Duper Thursday

http://www.telegraph.co.uk/business/2016/08/04/super-thursday-markets-brace-for-bank-of-england-interest-rate-c/

AssHats everywhere

Look at their bank interest rate, you might as well keep your fiat savings in a box buried in the garden.

Yeah, but at least it is still in the positive territory. Tongue

JayJuanGee

legendary

Activity: 3948

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: European Central Bank on August 04, 2016, 07:42:43 AM

Quote from: LFC_Bitcoin on August 04, 2016, 07:27:29 AM

Yeah I can't see that happening, I guess they'll file for business bankruptcy, they've lost all credibility & I doubt they have the means necessary to sort this out.

It's one big sorry mess.

let's see. don't underestimate the addiction people have for what it offers. the wording the bitfinex guy is using at present seems to imply they plan to get up and running again as if nothing ever happened. it's hard to tell who's less connected with reality, them or their customers who'll attempt to flock back.

Hhahaahahaha... Even though you tend to be a troll bear with a lot of dumb-ass assertions, this one is not dumb.

What I am trying to say is that you are speaking quite a bit of truth, here.

Bitfinex will not be going down anytime soon, unless they experience some other major attack. I expect that they are going to fake it until they make it, and customers are going to largely follow them, so long as they do not make overly restrictive and stupid moves that are going to create impressions of insolvency...

LFC_Bitcoin

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Quote from: silverfuture on August 04, 2016, 09:43:04 AM

I'm not saying there is anything wrong with bitcoin. I think the recent price movements were just sped up by the bitfinex hack but it was headed that way. The price movement from 666-604 happened without any knowledge of the hack and there is no way that many people had foresight of the hack to cause the decline. The most competent T/A folks were predicting it long before it happened, even to the price levels very accurately. People feel a little more confident now but we are going to test the lower levels again before it can rise appreciably in my opinion. I think we are looking at November- December 2016 before we see any kind of serious approach at new highs.

Ahh fair enough, I think you could definitely be right about the part I've bolded.

savetherainforest

hero member

Activity: 1876

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Plant 1xTree for each Satoshi earned!

Quote from: European Central Bank on August 04, 2016, 08:38:32 AM

Quote from: TReano on August 04, 2016, 08:35:03 AM

people also have to keep in mind that all this bullshit doesn't create real growth but nominal growth.

most people don't benefit from any type of growth and haven't for many years. you may as well get enough to a buy a few free tvs to enjoy watching the world burn in 4k.

Already buyed one.. Also an industrial bag of 50 kilo bag of popcorn maze, and 2x 50 liter canisters of beer. Bring it on world burning in flames!

silverfuture

legendary

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central banking = outdated protocol

Quote from: LFC_Bitcoin on August 04, 2016, 09:08:20 AM

Quote from: silverfuture on August 04, 2016, 08:43:07 AM

We're headed back down again soon. The whales haven't finished eating panic plankton yet.

Think you're wrong, the market panic sold but rely bfx is an unlicensed, somewhat illegal exchange. It's all blown over now & the price is recovering.

Bitcoin as a whole hasn't been damaged here, it's nothing like the ETH, DAO hack.

I'm not saying there is anything wrong with bitcoin. I think the recent price movements were just sped up by the bitfinex hack but it was headed that way. The price movement from 666-604 happened without any knowledge of the hack and there is no way that many people had foresight of the hack to cause the decline. The most competent T/A folks were predicting it long before it happened, even to the price levels very accurately. People feel a little more confident now but we are going to test the lower levels again before it can rise appreciably in my opinion. I think we are looking at November- December 2016 before we see any kind of serious approach at new highs.

JimboToronto

legendary

Activity: 4242

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You're never too old to think young.

An early good morning Bitcoinland.

Seems we're almost back to where we were before the Finex hack panic.

This could be where the price might have been today without the (as someone called it) "semi-fake crash".

It seems Bitcoin's death was once again "greatly exaggerated".

Hope all the sensible non-exchange holders took advantage of the dip. Once again, my heart goes out to all those who lost coins at Finex

savetherainforest

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Activity: 1876

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Plant 1xTree for each Satoshi earned!

Quote from: TReano on August 04, 2016, 07:16:19 AM

Quote from: savetherainforest on August 04, 2016, 06:29:02 AM

It is going back up where it was before this semi-fake crash.

I can't believe there are people that stupid to call this a fake crash lol

I can't believe there are people so stupid that believe there is no China bitcoin exchange trading cartel.

They know the price on the long run it can't go but UP! ... so they had to do a big shake of weak hands to buy with at least 10-15% cheaper.

*Edit: If you pay close attention on all exchanges in the same time... you will see that China is calling all the shots. Meaning if they have coins on all exchanges, they know ahead of everybody when they pump or dump! ... I have a suspicion that even the Finex exchange fiasco happened because the chinese traders expanding their borders on the gambling grand scheme. And it was a good opportunity to scare them off and not get involved in the West anymore.

LFC_Bitcoin

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Quote from: silverfuture on August 04, 2016, 08:43:07 AM

We're headed back down again soon. The whales haven't finished eating panic plankton yet.

Think you're wrong, the market panic sold but rely bfx is an unlicensed, somewhat illegal exchange. It's all blown over now & the price is recovering.

Bitcoin as a whole hasn't been damaged here, it's nothing like the ETH, DAO hack.

TReano

sr. member

Activity: 448

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Quote from: European Central Bank on August 04, 2016, 08:38:32 AM

Quote from: TReano on August 04, 2016, 08:35:03 AM

people also have to keep in mind that all this bullshit doesn't create real growth but nominal growth.

most people don't benefit from any type of growth and haven't for many years. you may as well get enough to a buy a few free tvs to enjoy watching the world burn in 4k.

yes most people do benefit from real growth. But just a few benefit directly from nominal(number) growth.

silverfuture

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central banking = outdated protocol

We're headed back down again soon. The whales haven't finished eating panic plankton yet.

empowering

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Quote from: European Central Bank on August 04, 2016, 08:34:57 AM

Quote from: empowering on August 04, 2016, 08:27:04 AM

I think a better idea is let, banks, and people and economies fail, and then rise from the dead, stronger, wiser, more prudent and responsible and more risk aware and adverse...and independent, and if they cannot, then they should simply fail.... by propping up bad actors, the system gets sicker and sicker, weaker and weaker... same with individuals involved... good kick in the balls is needed to wake everyone up.

i am willing to bet five years of global gdp that this will never, ever, ever happen. it's gonna carry on limping until every last one of us is living in a box, eating mud and too malnourished to pour into the streets and hang people.

yeah, I said it would be a better idea... not that it would ever happen Wink

European Central Bank

legendary

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Quote from: TReano on August 04, 2016, 08:35:03 AM

people also have to keep in mind that all this bullshit doesn't create real growth but nominal growth.

most people don't benefit from any type of growth and haven't for many years. you may as well get enough to a buy a few free tvs to enjoy watching the world burn in 4k.

Andre#

hero member

Activity: 737

Merit: 500

Quote from: Elwar on August 04, 2016, 03:43:59 AM

Quote from: adamstgBit on August 03, 2016, 09:55:12 PM

itBit is clearly leading both in volume and price ( according to http://bitcoincharts.com/markets/ )

now i'm wondering, what is itBit? and where did it come from?

I've been using itBit. I was going to buy via Coinbase but their restrictions and all of that are too difficult to make it useful.

With itBit I have to wire my money to the exchange which costs me $30 on my bank's end and $10 on itBit's side and it costs .2% for a trade. Compare that to Coinbase's 1%.

So if you look at a $10,000 deposit for both:
itBit: $30 + $10 + $20 = $60
CoinBase: $100

Anything over $5,000 is cheaper with itBit.

But itBit is just a whole lot less restrictive than Coinbase is.

Wow, it's so much cheaper in Europe. I use SEPA transfers to send money to and from Kraken. Costs me nothing for a deposit and €0.09 for a withdrawal. Takes about 4 hours on average (but outside office hours nothing happens).

TReano

sr. member

Activity: 448

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Quote from: European Central Bank on August 04, 2016, 07:59:29 AM

i like this idea - https://www.theguardian.com/business/2016/aug/03/cash-handouts-are-best-way-to-boost-growth-say-economists

if they're gonna take us all down the tubes then we may as well receive some free cash to blow as well, right?

people also have to keep in mind that all this bullshit doesn't create real growth but nominal growth.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: empowering on August 04, 2016, 08:27:04 AM

I think a better idea is let, banks, and people and economies fail, and then rise from the dead, stronger, wiser, more prudent and responsible and more risk aware and adverse...and independent, and if they cannot, then they should simply fail.... by propping up bad actors, the system gets sicker and sicker, weaker and weaker... same with individuals involved... good kick in the balls is needed to wake everyone up.

i am willing to bet five years of global gdp that this will never, ever, ever happen. it's gonna carry on limping until every last one of us is living in a box, eating mud and too malnourished to pour into the streets and hang people.

empowering

legendary

Activity: 1078

Merit: 1441

Quote from: ImI on August 04, 2016, 08:08:45 AM

good idea imo

It is an idea, a better idea than the QE so far...

But

I think a better idea is let, banks, and people and economies fail, and then rise from the dead, stronger, wiser, more prudent and responsible and more risk aware and adverse...and independent, and if they cannot, then they should simply fail.... by propping up bad actors, the system gets sicker and sicker, weaker and weaker... same with individuals involved... good kick in the balls is needed to wake everyone up.

That would be a good idea.

(all this tinkering leads to shit everytime)

ImI

legendary

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good idea imo

empowering

legendary

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Quote from: European Central Bank on August 04, 2016, 07:59:29 AM

i like this idea - https://www.theguardian.com/business/2016/aug/03/cash-handouts-are-best-way-to-boost-growth-say-economists

if they're gonna take us all down the tubes then we may as well receive some free cash to blow as well, right?

(did not read link)

but yeah helicopter cash is actually on the table here in the UK, talks of approx £500 per adult.

Believe it when I see it

European Central Bank

legendary

Activity: 1288

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i like this idea - https://www.theguardian.com/business/2016/aug/03/cash-handouts-are-best-way-to-boost-growth-say-economists

if they're gonna take us all down the tubes then we may as well receive some free cash to blow as well, right?

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