Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20924. (Read 26608321 times)
August 24, 2015, 07:06:21 PM
But still Bitcoin is the best investment option than stock market.
August 24, 2015, 07:02:45 PM
August 24, 2015, 06:55:12 PM
This is brutal
August 24, 2015, 06:54:44 PM
Fear not forks, fear free energy.
For some of us it's not about fear, Bitcoin is how we get there. 
August 24, 2015, 06:44:37 PM
175$ could get tested. but with the looming nerd-fight until january 2016 there maybe not enough interest for a reaction.
August 24, 2015, 06:41:36 PM
I sold everything waiting to buy back sub 100, #besttraderever
Legendary Noob, bottom seller. Pathetic...
$200 inkoming ~ $175 test most likely imo * splitting the coin up from here will yield $100 post-split corns,,
-- not a bad place to pump from !!! :-) ready-set >>>weeeeeeee
August 24, 2015, 06:35:02 PM
Funny how these quarrels amongst coders get so many people so excited when we are actually just on our way down from willy/markus artificial highs towards the actual production cost of bitcoin (as any "regular" commodity would behave). As long the max amount of btc has not been mined (or that event is even poking from the far horizon), the amount of cash needed to mine a bitcoin is where the price is pulling.
Yes that is kitchen economics, but ffs that´s just how stuff works.
Fear not forks, fear free energy.
Yes that is kitchen economics, but ffs that´s just how stuff works.
Fear not forks, fear free energy.
Wrong.
As long as there is speculation and demand the price can remain above production cost indefinitely.
You presume every mined coin is sold which is an asinine assumption.
The caveat of course is the price can also go below production if existing coins are added to the supply side.
The point being to use the cost of production as a metric for the true price is misinformed.
August 24, 2015, 06:31:05 PM
Funny how these quarrels amongst coders get so many people so excited when we are actually just on our way down from willy/markus artificial highs towards the actual production cost of bitcoin (as any "regular" commodity would behave). As long the max amount of btc has not been mined (or that event is even poking from the far horizon), the amount of cash needed to mine a bitcoin is where the price is pulling.
Yes that is kitchen economics, but ffs that´s just how stuff works.
Fear not forks, fear free energy.
Yes that is kitchen economics, but ffs that´s just how stuff works.
Fear not forks, fear free energy.
August 24, 2015, 06:27:44 PM
Wasteland is right, confidence is one major "selling point" of Bitcoin. This kiddy nerd fights are for sure not helping in that regard. It seems like several billions have been handed to some teenagers.
The nature of any politics results in squabbling that appears like kid fights, that is NOT so unusual as you are making it out to be...
Yes, surely, there is an ongoing lack of confidence that drives the price downward, and fearmongerers that also contribute to negative sentiments...
At the same time, we could go down either road and still be o.k.... our vehicle is still intact.... and mobile and capable of taking us in either direction, so long as we can agree to who is driving and whether we go 40mph or 80mph... and whether we pull the trailer or leave it at the campsite...
I think back to primary school. We were trading marbles and pokemon cards for food, money and other toys. When the 'teachers' tried to drive the vehicle it was the instant touch of death.
I still don't see why all the meddling and complexity is needed. It's just a few individuals subjectively imposing their future onto everyone which may or may not be relevant. I would rather and wait to see what the trends of adoption are.
It's all good. Cypto will have it's time -probably soon as markets begin to crack as we speak. But I don't think these 'digital artists' creating tricked-out fandangled crypto magic are doing the right thing. They're just satisfying themselves. They should be experimenting with altcoins. Make sure the technology is on the sidelines if needed. Leave bitcoin alone. If you argue otherwise then as I said, who else could they be answering to. The consumer base is too small and the power is with centralised entities - exchanges, miners, merchants.
August 24, 2015, 06:26:35 PM
Wasteland is right, confidence is one major "selling point" of Bitcoin. This kiddy nerd fights are for sure not helping in that regard. It seems like several billions have been handed to some teenagers.
The nature of any politics results in squabbling that appears like kid fights, that is NOT so unusual as you are making it out to be...
Yes, surely, there is an ongoing lack of confidence that drives the price downward, and fearmongerers that also contribute to negative sentiments...
At the same time, we could go down either road and still be o.k.... our vehicle is still intact.... and mobile and capable of taking us in either direction, so long as we can agree to who is driving and whether we go 40mph or 80mph... and whether we pull the trailer or leave it at the campsite...
At the end of the day it's all a question of liquidity. There are many big holders who, while being btc rich, could never feasibly cash out their stash due to lack of liquidity. If just a few of them cash out a small percentage to lock in profit the market tanks. Add into that a negative sentiment and the price has nowhere to go but down.
Its funny though, if the price drops much more there is going to have been more VC money invested in the eco system than the market cap of the product they are venturing for.
I do think we'll go down BUT dreams of $50 btc wont happen and those prices wont remain for long. There are too many rich people out there who would throw a million in for 20k coins to see those levels for long.
It is true though that there comes a point where the price is so low people will lose interest and a lot of the momentum will be lost.
August 24, 2015, 06:21:42 PM
I sold everything waiting to buy back sub 100, #besttraderever
Legendary Noob, bottom seller. Pathetic...
August 24, 2015, 06:20:42 PM
starting to think there no need to increase block size limit because bitcoin will soon not be used at all
no comment
I sold everything waiting to buy back sub 100, #besttraderever
Legendary Noob, bottom seller. Pathetic...
August 24, 2015, 06:12:01 PM
The broader issue is still that society isn't waking up to the need for crypto. Sure there are problems with BTC but if people actually cared about using it then an altcoin would have shot to the moon by now to take its place, even if temporarily. If the power is held by exchanges, then miners then merchants and consumers are down the bottom, then we're probably at the complete opposite of where we need to be.
There are no consumers. Just speculators.
There are no consumers. Just speculators.
Very well said. Indeed the main issue with digital currencies is that there are no consumers. A few thousands users of this forum is the digital currency community worldwide - that's all. Sad and pathetic what Satoshi's remarkable innovation became - a speculative asset without connection to real world use cases.
Consumption and various other uses are still being developed... these kinds of developments take time and infrastructure and creativity and incentives.. etc etc. .. that is, in part, why there is so much passion about the various bitcoin fork directions.. because many people want to develop around bitcoin and the future and whatever that may be..
August 24, 2015, 06:08:49 PM
Wasteland is right, confidence is one major "selling point" of Bitcoin. This kiddy nerd fights are for sure not helping in that regard. It seems like several billions have been handed to some teenagers.
The nature of any politics results in squabbling that appears like kid fights, that is NOT so unusual as you are making it out to be...
Yes, surely, there is an ongoing lack of confidence that drives the price downward, and fearmongerers that also contribute to negative sentiments...
At the same time, we could go down either road and still be o.k.... our vehicle is still intact.... and mobile and capable of taking us in either direction, so long as we can agree to who is driving and whether we go 40mph or 80mph... and whether we pull the trailer or leave it at the campsite...
August 24, 2015, 06:02:28 PM
August 24, 2015, 06:00:09 PM
The broader issue is still that society isn't waking up to the need for crypto. Sure there are problems with BTC but if people actually cared about using it then an altcoin would have shot to the moon by now to take its place, even if temporarily. If the power is held by exchanges, then miners then merchants and consumers are down the bottom, then we're probably at the complete opposite of where we need to be.
There are no consumers. Just speculators.
There are no consumers. Just speculators.
Very well said. Indeed the main issue with digital currencies is that there are no consumers. A few thousands users of this forum is the digital currency community worldwide - that's all. Sad and pathetic what Satoshi's remarkable innovation became - a speculative asset without connection to real world use cases.
August 24, 2015, 05:59:56 PM
The broader issue is still that society isn't waking up to the need for crypto. Sure there are problems with BTC but if people actually cared about using it then an altcoin would have shot to the moon by now to take its place, even if temporarily. If the power is held by exchanges, then miners then merchants and consumers are down the bottom, then we're probably at the complete opposite of where we need to be.
There are no consumers. Just speculators.
There are no consumers. Just speculators.
yes, this makes sense.
August 24, 2015, 05:54:38 PM
The broader issue is still that society isn't waking up to the need for crypto. Sure there are problems with BTC but if people actually cared about using it then an altcoin would have shot to the moon by now to take its place, even if temporarily. If the power is held by exchanges, then miners then merchants and consumers are down the bottom, then we're probably at the complete opposite of where we need to be.
There are no consumers. Just speculators.
There are no consumers. Just speculators.
August 24, 2015, 05:49:38 PM
Wasteland is right, confidence is one major "selling point" of Bitcoin. This kiddy nerd fights are for sure not helping in that regard. It seems like several billions have been handed to some teenagers.
August 24, 2015, 05:38:16 PM
Down we go again.
I surely see the momentum.. yet I find it somewhat surprising that bitcoin seems to be gong down at a very similar, if NOT greater rate than fiat markets..
In other words, I would have expected BTC to move somewhat contrary to fiat markets... whether short term or long term...
Fiat markets going down should indicate that BTC is going up... no?
Do you think that after a nuclear blast people will rush to buy helmets?
WTF? There has been a nuclear blast? When? Where?
I thought that there was merely a loss of confidence and a bit of a dispute regarding which road to take, but we are still on the road anyhow, heading in the same overall direction, no?
No.
When it comes to money, folks want to be fairly confident that it won't be worthless tomorrow because a bunch of coders couldn't play nice together. Bitcoin's claim to fame was being "antifragile" (can you think of a goofier word?)--immune to the wacky doings of flaky humans. Now we learn that it just ain't so. That a couple of well-connected d00ds could devalue it into oblivion.
Sure, many knew this from the git-go, but now we got empirical proof that even the faithful can't deny.
That sort of thing doesn't inspire confidence.
That still is NOT the equivalent of a nuclear blast, but maybe i will concede that we are experiencing some kind of a breakdown in our vehicle.. like we may have put too low of octane, and it is sputtering somewhat and not running too well while we are still having difficulties deciding which road to take and/or figuring out exactly who is the decision maker.. and we have to rely upon consensus, to some extent rather than just driving ourselves the way that we would prefer to go..
Jump to: