Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20584.

chennan

legendary

Activity: 1316

Merit: 1004

Quote from: tarmi on October 23, 2015, 12:31:03 PM

I would be worried if chinese were moving their $ using bitcoin because those millions of coins got to end somewhere.

the truth is that we are building ponzi (MMM) upon ponzi (OK Coin).

Maybe they will put some of those coins back on the market just to have fiat, but I'm starting to think everyone is speculating that the prices are going up very soon, so maybe they will keep a majority of those coins and hang on for the ride... who knows... it's going to be fun to watch, that's all I know.

oda.krell

legendary

Activity: 1470

Merit: 1007

story time

Just stumbled over a private tracker site that I thought about signing up for. Polish, pretty active by the looks of it. They ask for a 0.01 BTC sign up contribution. Not overly greedy, which I liked. Made me grin as well. Just like that, some millennials over in Poland, asking me "Want to sign up? Send us a small amount of BTC, it's hassle free and doesn't get blocked."

I don't really care much whether the ETF starts trading this year or not, or if the sound money zealots will have their field day anytime soon. As long as a bunch of kids likely around half my age at the other end of the EU use the Blockchain as an overengineered tipping jar, I'm happy for now.

No sarcasm or bitterness in that last line. Some humbleness maybe, compared to the thoughts I had on the matter two years ago, but only the most cynical of assholes will conflate these two.

/story time

tarmi

legendary

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I would be worried if chinese were moving their $ using bitcoin because those millions of coins got to end somewhere.

the truth is that we are building ponzi (MMM) upon ponzi (OK Coin).

r0ach

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Activity: 1260

Merit: 1000

Quote from: JorgeStolfi on October 23, 2015, 10:52:33 AM

Quote from: r0ach on October 23, 2015, 08:54:07 AM

I would guess the MMM had between 0 and 0/1 effect on price.

Then what is your explanation for that rise?

Pretty god damn obvious, at least 500 billion dollars attempting to leave China, some of which is going into Bitcoin, and the halving is just beginning to start to have an initial price effect. Negative interests rates gaining steam + more China fever + halving all at the same time = the perfect storm beginning.

http://www.armstrongeconomics.com/archives/38474

ChartBuddy

legendary

Activity: 2380

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Coin

Explanation

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: bitebits on October 23, 2015, 11:52:38 AM

Thanks for the ELI5.

That's what professors are for. Nice to see him practicing his craft here.

bitebits

legendary

Activity: 2242

Merit: 3523

Flippin' burgers since 1163.

Quote from: JorgeStolfi on October 23, 2015, 11:45:16 AM

Quote from: bitebits on October 23, 2015, 11:36:08 AM

Demand (is about to become) > Supply

Saying that "the price rose because of supply and demand" is like saying that the weather is hot because the temperature got higher...

Thanks for the ELI5.

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: DaRude on October 23, 2015, 10:34:54 AM

Quote from: aminorex on October 23, 2015, 10:11:28 AM

Quote from: aminorex on October 21, 2015, 09:11:59 PM

Quote from: aminorex on October 14, 2015, 11:25:10 AM

won't make 255 on this run, but will continue to trend up for 8-12 days, to a big test at 270. fails the test. retraces to 240, then continues up.

Seems legit. Should make another run past 270 before any drop, though.

Okay, going out on a limb here. I expect it to decline starting today. Top is in for the next few weeks, if so. My 40% alternative scenario is for 3 more weeks going up, touching 300. I am playing both of these scenarios, with 60/40 allocation, personally.

So you're saying we either go up or down from here? Pure genius

While I personally disagree (more likely we have another leg up, imo), bolded above is what turns a tautology into a (tradeable) prediction.

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: bitebits on October 23, 2015, 11:36:08 AM

Quote from: JorgeStolfi on October 23, 2015, 10:52:33 AM

Quote from: r0ach on October 23, 2015, 08:54:07 AM

I would guess the MMM had between 0 and 0/1 effect on price.

Then what is your explanation for that rise?

Demand (is about to become) > Supply

Demand has always been exactly equal to supply; otherwise you would see unwanted bitcoins scattered on the ground around the bitcoin mines, or kings on their knees begging in vain for bitcoin holders to sell them a single satoshi for all the gold in their kingdoms and the hands of their princesses too.

You mean that more people are now more willing to pay more dollars for 1 BTC. Fine, but why? Saying that "the price rose because of supply and demand" is like saying that the weather is hot because the temperature got higher...

bitebits

legendary

Activity: 2242

Merit: 3523

Flippin' burgers since 1163.

Quote from: JorgeStolfi on October 23, 2015, 10:52:33 AM

Quote from: r0ach on October 23, 2015, 08:54:07 AM

I would guess the MMM had between 0 and 0/1 effect on price.

Then what is your explanation for that rise?

Demand (is about to become) > Supply

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Coin

Explanation

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: r0ach on October 23, 2015, 08:54:07 AM

I would guess the MMM had between 0 and 0/1 effect on price.

Then what is your explanation for that rise?

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: aminorex on October 23, 2015, 10:11:28 AM

Quote from: aminorex on October 21, 2015, 09:11:59 PM

Quote from: aminorex on October 14, 2015, 11:25:10 AM

won't make 255 on this run, but will continue to trend up for 8-12 days, to a big test at 270. fails the test. retraces to 240, then continues up.

Seems legit. Should make another run past 270 before any drop, though.

Okay, going out on a limb here. I expect it to decline starting today. Top is in for the next few weeks, if so. My 40% alternative scenario is for 3 more weeks going up, touching 300. I am playing both of these scenarios, with 60/40 allocation, personally.

So you're saying we either go up or down from here? Pure genius

JimboToronto

legendary

Activity: 4200

Merit: 4887

You're never too old to think young.

Good morning Bitcoinland.

Still over $270 I see.

The European VAT news is old now and the price is still holding. This is good.

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

Quote from: aminorex on October 21, 2015, 09:11:59 PM

Quote from: aminorex on October 14, 2015, 11:25:10 AM

won't make 255 on this run, but will continue to trend up for 8-12 days, to a big test at 270. fails the test. retraces to 240, then continues up.

Seems legit. Should make another run past 270 before any drop, though.

Okay, going out on a limb here. I expect it to decline starting today. Top is in for the next few weeks, if so. My 40% alternative scenario is for 3 more weeks going up, touching 300. I am playing both of these scenarios, with 60/40 allocation, personally.

SnokkomBTC

hero member

Activity: 559

Merit: 500