Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18657. (Read 26635641 times)

The logic above is nearly total nonsense.


The current price movement is not merely in respect to havening, but a variety of factors including bitcoin's development and clearing up of various FUCD spreading matters in the community with the realization that much of the FUCD spreading was nonsense.  Furthermore Bitcoin's price had been successfully repressed for nearly a year, so there was a need to return prices upwards, and this is the return of those prices.

Regarding the havening, you are suggesting that havening is a bearish event with some kind of implied logic that miners are going to have less incentive to mine, and this kind of logic is frequently passed around loudly and forcefully, as if the  more you repeat a lie it will become true.... In fact the havening is bullish, and it plays out over time rather than being a pump event, as you are stupidly asserting in your post.

mark toknormal's post - he is speaking the truth.

amen brother - if bitcoin survives a few years more there will be a whole generation for which bitcoin is simply better than gold - full stop.

I did it. I opened a gold position with some btc a 700$/btc. It's good to diversify in times of uncertainty. I used vaultoro to do that which i found useful.

In case bitcoin goes down I can reverse everything and get more bitcoin.  

I'd say the dumb money is in gold. If you want to be standing with your pants around your ankles in ten years time then invest in gold.

Here's the problem:

Over the last few millennia, gold gained value due to its monetary properties more than anything. In particular, those of limited supply, fungibility and mobility because coins could be transported anywhere in the age of physical markets and exchanged directly - peer to peer - just as bitcoin is.

However this is no longer possible. Gold has lost this, most important of monetary properties since during the last half century the bulk of the world's trade has moved from a physical to an electronic platform. This means that you no longer transfer ownership and possession of gold in the same trade and so consequently the gold market has forked into 2 distinct monetary media: a physical one and a (so called) "paper" one where ownership is transferred but posession cannot be taken. The problem with the paper market is that it is not a fixed supply, so bang goes the second of gold's great monetary properties.

Gold traders can choose which of these two media they prefer to trade - you can have either mobility or possession but you can't have both.

Because of this "forking" of the market, gold will never again command the kind of values or be able to support the same kind of "safe haven" investment that it did during the last few centuries. It is handicapped permanently and pegged at a value which represents the balance of demand between the physical and paper markets.

Cryptocurrencies, on the other hand, remedy the problem since they are the perfect "bearer instrument". One with which you can take both ownership and possession in the same trade and for that reason are likely to outperform precious metals by several orders of magnitude over the next few years.

I like point 1, but the rest really cleared it up for me. Thanks for that

Is the way to stay out of Bitcoin not in Fiat. LTC was very stable over the last months.

It looks that way, hope they opened lots of soon to be burned shorts.

Yes. I suppose it's because LTC helps to play in arbitration.

LTC/USD is down. In the days of old, BTC and LTC rates would be inverse. Now, it seems to me LTC seems somewhat of a predictor for the BTC rate.  Is that just me or have other people noticed the same?

Smart money get out of bitcoin from time to time. But they don't get in fiat. They get in gold. That's why they are smart money.

Probably. The question is for how long.

Are we making a little pause before making another leg up? 

Well they are just reporting from here.

http://fortune.com/2016/06/10/andreessen-horowitz-new-fund/

Looks like some of the money will go somewhere.

Andreessen Horowitz’s Recent $1.5B Round Could Be Big for Bitcoin.

Uh what, do i read that correctly? $1.5B

https://news.bitcoin.com/horowitz-capital-big-things-bitcoin/

In other news I just requested a btc payment from an account that is denominated in fiat and scheduled to be processed on Wednesday.

I wonder what the price will be when it is processed.

I always thought so as a kid.

I never told my daughter that.

Eh ? Wot yoo tokin about ?



Cos once your out of bitcoin, yo in fiat. Quicksand.

Oh that's mean  

Let me try. Your parents become rich and start giving you a very good allowance. The only problem is that they pay that allowance in "parent tokens" which you can only use around your house for things like extra TV time, or paying your sister to pick up your toys for you, or paying your other brother to do your homework. Life is good you saved up a bunch of these "parent tokens" but suddenly your dad looses his job and you're afraid that your "parent tokens" will become useless, plus you wanna buy ice cream but the store only accepts real dollars. Now your parents are going bankrupt and won't exchange those "parent tokes" for real dollars themselves, so you go to your older brother who said he can change those "parent tokens" for bitcoins, and you know once you got those you can spend them anywhere in the world. Now you have a huge family so you tell it to all of your other 15 brothers and sisters and they all come running to that one big brother to change all of their "parent tokens" to bitcoins.
How did i do?  

You will understand when you grow up.

Them chinese jukes ... LOL! ... very nice! Good volatility! ... I wonder on $1000+ ... 50$ - 100$ waves will probably be something common.