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.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20925. (Read 26608343 times)
August 24, 2015, 05:54:38 PM
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..
August 24, 2015, 05:35:59 PM
*sigh*
another day another couple hundred dollar bills on the bonfire ...
since the start of the year from above 300 plunged to sub 200 then punched back up above 300 slammed back into low 200 pushed back above 300 slammed back into the low 200 pushed back above 300 again and now punched briefly below and now sitting in the low 200s. so yeah ... if anyone hasn't figured it out yet 300--->200--->300--->200--->300--->200--->300--->200--->golly gee what happens next i wonder ? ... and use whatever reason or no reason at all to justify these movements which we all know is pure manipulation ... you think the bitcoin summit meeting / whales / manipulators / exchange operators miiiiiiight just maaaaybe have decided on a set trading range ? all's i know is low 200s or anything below = BUY and if/when we get back to the 300s it's SELL ... again and again and again. someday we'll reach the halving in ohhhhh 10 months or so and someday we'll get the gemini launch. that'll be nice for hopefully shifting from 200/300 range to 300/400 range. meanwhile this xt bullshit has what? 0.3% of the network bothering with it (probably nearly all outdated otherwise OFF old asics) and the other 99.7% is sticking with core ... so yeah ...
another day another couple hundred dollar bills on the bonfire ...
since the start of the year from above 300 plunged to sub 200 then punched back up above 300 slammed back into low 200 pushed back above 300 slammed back into the low 200 pushed back above 300 again and now punched briefly below and now sitting in the low 200s. so yeah ... if anyone hasn't figured it out yet 300--->200--->300--->200--->300--->200--->300--->200--->golly gee what happens next i wonder ? ... and use whatever reason or no reason at all to justify these movements which we all know is pure manipulation ... you think the bitcoin summit meeting / whales / manipulators / exchange operators miiiiiiight just maaaaybe have decided on a set trading range ? all's i know is low 200s or anything below = BUY and if/when we get back to the 300s it's SELL ... again and again and again. someday we'll reach the halving in ohhhhh 10 months or so and someday we'll get the gemini launch. that'll be nice for hopefully shifting from 200/300 range to 300/400 range. meanwhile this xt bullshit has what? 0.3% of the network bothering with it (probably nearly all outdated otherwise OFF old asics) and the other 99.7% is sticking with core ... so yeah ...
August 24, 2015, 05:30:12 PM
only a nutcase would step into BTC right now...
If I found $5,000 on the street in an apparently abandoned shopping bag that I was considering investing into Bitcoin and/or possibly investing that unexpected arrived upon quantity of money into other investments for the medium term (maybe 2 to 4 years), I don't see any real problem in putting 10% or 30% or more of that money into BTC at this particular moment. These are great prices for BTC investing, no?
Where else should I put it? leave it in cash? Where would you put it and for how long?
ETH! forever.
i'm only kidding.
August 24, 2015, 05:29:06 PM
Down we go again.
I surely see the downward momentum.. yet I find it somewhat surprising that bitcoin prices seem to be gong down at a very similar, if NOT greater rate than fiat markets.. ... Yes, yes yes... fork issues...
Nonetheless.. in spite of fork issues, I would have expected BTC prices to move somewhat contrary to fiat markets... whether short term or long term... and in spite of fork issues...
Bitcoin should be a good hedge.. and a decent investment... Accordingly, Fiat markets going down should indicate that BTC are to be going up... no?
Cut your loose!!! Should have listened to falllling before it was too late? Sell now or sell sub 100, no big difference anymore. Cut your loose JJG, however cut your loose!
Store of value, laughin my ass off. Shlud have bough ptatoes or rice!
NOT a great time to sell... maybe sell 1 bitcoin or 1% of holdings or less, just for fun... but overall this seems more like the time to be buying, rather than selling...
August 24, 2015, 05:28:00 PM
Margin longs are going down, not up. $300,000 in dollar swaps closed. Looks like we won't get another crash.
Just more $220-$320 range trading.
Just more $220-$320 range trading.
Looks like someone got quoted on Deep Dot Web ... https://www.deepdotweb.com/2015/08/24/bitfinex-flashcrash-post-mortem-analysis/
August 24, 2015, 05:25:54 PM
only a nutcase would step into BTC right now...
If I found $5,000 on the street in an apparently abandoned shopping bag that I was considering investing into Bitcoin and/or possibly investing that unexpected arrived upon quantity of money into other investments for the medium term (maybe 2 to 4 years), I don't see any real problem in putting 10% or 30% or more of that money into BTC at this particular moment. These are great prices for BTC investing, no?
Where else should I put it? leave it in cash? Where would you put it and for how long?
August 24, 2015, 05:20:18 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?
August 24, 2015, 05:18:54 PM
Good night and good luck everyone!
August 24, 2015, 05:15:32 PM
Down we go again.
I surely see the downward momentum.. yet I find it somewhat surprising that bitcoin prices seem to be gong down at a very similar, if NOT greater rate than fiat markets.. ...
Yes, yes yes... fork issues...
Nonetheless.. in spite of fork issues, I would have expected BTC prices to move somewhat contrary to fiat markets... whether short term or long term... and in spite of fork issues...
Bitcoin should be a good hedge.. and a decent investment... Accordingly, Fiat markets going down should indicate that BTC are to be going up... no?
Cut your loose!!! Should have listened to falllling before it was too late? Sell now or sell sub 100, no big difference anymore. Cut your loose JJG, however cut your loose!
Store of value, laughin my ass off. Shlud have bough ptatoes or rice!
August 24, 2015, 05:15:24 PM
A good point at first sight, however there's quite a lot of dollars created out of thin air on a daily basis. The inflation with BTC is also quite high but it is in keeping with the growing demand.
And that is exactly the point, the value can only rise if demand becomes much much higher. I can only imagine that happening if a whole lot of new people start using it. Hundreds of millions preferably. If it's only a couple of investors' toy it will never be worth much, at least not for a long stretch of time.
I'd say something can only be a widely used currency once it's become a trusted store of value, especially when it's entirely voluntary like Bitcoin always will be. Regardless of shenanigans and debasement, that's what the USD means to people all around the world. They know it'll still be worth something at the end of the month and that's why they swap their local currencies for it wherever they can.
yea, but it will never reach 100k euros or pounds for that matter.
and it will collapse ultimately. you know it, else there is no incentive for *investing* in bitcoin, and hope it would set off to moon, because it could not compete with the dollar anyway.
August 24, 2015, 05:15:05 PM
only a nutcase would step into BTC right now...
agreed time to buy.
Yeah sent a lot of euro's to Kraken, they will be there tomorrow! =D
August 24, 2015, 05:13:28 PM
Down we go again.
I surely see the downward momentum.. yet I find it somewhat surprising that bitcoin prices seem to be gong down at a very similar, if NOT greater rate than fiat markets.. ...
Yes, yes yes... fork issues...
Nonetheless.. in spite of fork issues, I would have expected BTC prices to move somewhat contrary to fiat markets... whether short term or long term... and in spite of fork issues...
Bitcoin should be a good hedge.. and a decent investment... Accordingly, Fiat markets going down should indicate that BTC are to be going up... no?
When markets crash like this, cash is king.
Who in their right mind is gonna liquidate their stock holding etc and then throw their money in something that just lost 30% of its value in a week. Do you think people are retarded?!
Also nice post Alex, covered pretty much what I would have replied.
August 24, 2015, 05:13:00 PM
only a nutcase would step into BTC right now...
agreed time to buy.
August 24, 2015, 05:12:21 PM
only a nutcase would step into BTC right now...
August 24, 2015, 05:12:01 PM
A good point at first sight, however there's quite a lot of dollars created out of thin air on a daily basis. The inflation with BTC is also quite high but it is in keeping with the growing demand.
And that is exactly the point, the value can only rise if demand becomes much much higher. I can only imagine that happening if a whole lot of new people start using it. Hundreds of millions preferably. If it's only a couple of investors' toy it will never be worth much, at least not for a long stretch of time.
I'd say something can only be a widely used currency once it's become a trusted store of value, especially when it's entirely voluntary like Bitcoin always will be. Regardless of shenanigans and debasement, that's what the USD means to people all around the world. They know it'll still be worth something at the end of the month and that's why they swap their local currencies for it wherever they can.
August 24, 2015, 05:11:34 PM
I do want that, but I know I will have to wait for quite some time! I also know that there will be quite some growing pains until we reach those numbers. And I am of the opinion, contrary to you, that to reach those numbers, Bitcoin MUST be in use as a currency, not just a store of value. I find it hard to imagine it reaching such highs without mass adoption.
You genuinely should check out Unobtanium, it's a good project.
You genuinely should check out Unobtanium, it's a good project.
ok lemme try another angle.. what is the currency the most used on the planet? dollar right? why do you think it isnt worht 100K euros for exmaple?
because it is not an investment. its a currency! or you have to buy a lot of dollars to consider it an investment. even tho it will crash at some point once they'll be done with QE and you will loose money. cant have both man, its all about how people perceive bitcoin. either a currency.. or a safe-haven investment, a personnal unbreakable safe for when the rest of the financial world approach doom.
so if the latter be sure moon will be on sight
A good point at first sight, however there's quite a lot of dollars created out of thin air on a daily basis. The inflation with BTC is also quite high but it is in keeping with the growing demand.
And that is exactly the point, the value can only rise if demand becomes much much higher. I can only imagine that happening if a whole lot of new people start using it. Hundreds of millions preferably. If it's only a couple of investors' toy it will never be worth much, at least not for a long stretch of time.
show me this demand growing data. there is none.
but even if the demand do increase, and i hope it will, that would be good because of bitcoin's being capped.
otoh transactions number is not relevant to its price.
people should be happy to pay fees to securly and without permission to send *huge* amounts across the globe.
for the rest, there is eurocard/mastercard. or even any altcoin for that matter.
August 24, 2015, 05:08:37 PM
I do want that, but I know I will have to wait for quite some time! I also know that there will be quite some growing pains until we reach those numbers. And I am of the opinion, contrary to you, that to reach those numbers, Bitcoin MUST be in use as a currency, not just a store of value. I find it hard to imagine it reaching such highs without mass adoption.
You genuinely should check out Unobtanium, it's a good project.
You genuinely should check out Unobtanium, it's a good project.
ok lemme try another angle.. what is the currency the most used on the planet? dollar right? why do you think it isnt worht 100K euros for exmaple?
because it is not an investment. its a currency! or you have to buy a lot of dollars to consider it an investment. even tho it will crash at some point once they'll be done with QE and you will loose money. cant have both man, its all about how people perceive bitcoin. either a currency.. or a safe-haven investment, a personnal unbreakable safe for when the rest of the financial world approach doom.
so if the latter be sure moon will be on sight
A good point at first sight, however there's quite a lot of dollars created out of thin air on a daily basis. The inflation with BTC is also quite high but it is in keeping with the growing demand.
And that is exactly the point, the value can only rise if demand becomes much much higher. I can only imagine that happening if a whole lot of new people start using it. Hundreds of millions preferably. If it's only a couple of investors' toy it will never be worth much, at least not for a long stretch of time.
Edit: consider the scenario where there were only 21m dollars created in the first couple of years of it's usage, but then the demand for dollars kept growing like it did?
August 24, 2015, 05:05:36 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?
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