Coin
Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20836. (Read 26608850 times)
September 08, 2015, 01:02:16 PM
September 08, 2015, 12:59:43 PM
The dollar weakened, so assets denominated in dollars went up, all things else being equal.
Fundamental issues as I see them:
1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)
This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce.
It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty. It's impossible to build a business model based on an unknown fee structure.
Fundamental issues as I see them:
1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)
This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce.
It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty. It's impossible to build a business model based on an unknown fee structure.
0. Bitcoin supporters are so batshit insane that many folks simply don't want to be associated with them.
That's not a valid reason at all. Economics is all about incentives. Given a strong enough incentive, racists will hire minorities, Sexists will hire women, Anti-semites will do business with Jews and Homophobes will provide goods and services to gays. History is littered with sane people lining up to be associated with whackjobs when they had an incentive to do so.
" It's not personal, Sonny. It's strictly business." ~Michael Corleone
September 08, 2015, 12:52:03 PM
are we rich yet?? 
If you are owning ten thousand coins I'm supposed to say yes.
September 08, 2015, 12:14:15 PM
are we rich yet??
I like your irony in both ways
September 08, 2015, 12:11:38 PM
The dollar weakened, so assets denominated in dollars went up, all things else being equal.
Fundamental issues as I see them:
1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)
This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce.
It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty. It's impossible to build a business model based on an unknown fee structure.
Fundamental issues as I see them:
1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)
This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce.
It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty. It's impossible to build a business model based on an unknown fee structure.
0. Bitcoin supporters are so batshit insane that many folks simply don't want to be associated with them.
September 08, 2015, 12:03:35 PM
September 08, 2015, 11:53:19 AM
The dollar weakened, so assets denominated in dollars went up, all things else being equal.
Fundamental issues as I see them:
1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)
This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce.
It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty. It's impossible to build a business model based on an unknown fee structure.
Fundamental issues as I see them:
1. Bitcoin is a poor unit of account because it is too volatile (although this is decreasing)
2. Bitcoin is a poor medium of exchange (network capacity of 7 TPS is far too low)
3. Bitcoin is a poor store of value (not enough liquidity to be an easily marketable commodity)
This seems strange considering Bitcoin's properties of being recognizable, transportable, fungible, divisible, and scarce.
It seems to me that the most likely path to mainstream adoption would be through microtransactions, when a unit of account need not be closely correlated with store-of-value, but of course nobody wants to invest in microtransaction applications with the network capacity/block size limit uncertainty. It's impossible to build a business model based on an unknown fee structure.
September 08, 2015, 11:48:45 AM
hashtagging in here? really?
September 08, 2015, 11:03:13 AM
September 08, 2015, 10:42:15 AM
September 08, 2015, 10:40:35 AM
fud bitcoin... i dont need no bitcoins...... i going to the beach... better things to do then worry about bitcoin. #goals #priorities
September 08, 2015, 10:02:33 AM
September 08, 2015, 09:54:53 AM
Nothing to comment, already relaunched.
some ol reuters fud..
September 08, 2015, 09:40:38 AM
Ruble exchange hacked?
Is this the end of the Ruble?
Nothing to comment, already relaunched.
some ol reuters fud..
September 08, 2015, 09:28:11 AM
Ruble exchange hacked?
Is this the end of the Ruble?
September 08, 2015, 09:25:32 AM
are we rich yet??
September 08, 2015, 09:02:50 AM
September 08, 2015, 08:02:51 AM
September 08, 2015, 07:34:58 AM
Come on $300. You really are taking your time.
September 08, 2015, 07:33:53 AM
Still waiting for double digit, smell like broke 
Still one of my favourites^^
Ha ha
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