Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24519. (Read 26711236 times)
November 15, 2014, 10:50:31 AM
The jig is up, Bitcoiners! YOU CAN NOT HIDE!
November 15, 2014, 10:48:13 AM
Weekend dumps down to 34x followed by Mon/Tues pump to 500 
November 15, 2014, 10:46:02 AM
Lemme help some of you new guys out. Whenever you see things like market price setting at a fake number like $399.99, and it sits there for more than 12-24 hours without going up, you can bet that a dump is incoming.
You're welcome.
(I hate this stupid market, but still hodl for life)
You're welcome.
(I hate this stupid market, but still hodl for life)
Ahem.
Right again. This supposedly unpredictable market has become so predictable.
LoL, yea right. If it is so predictable, please enlighten me and tell me what will happen next...
Sure. More dumping incoming.
You're welcome.
November 15, 2014, 10:44:36 AM
Lemme help some of you new guys out. Whenever you see things like market price setting at a fake number like $399.99, and it sits there for more than 12-24 hours without going up, you can bet that a dump is incoming.
You're welcome.
(I hate this stupid market, but still hodl for life)
You're welcome.
(I hate this stupid market, but still hodl for life)
Ahem.
Right again. This supposedly unpredictable market has become so predictable.
LoL, yea right. If it is so predictable, please enlighten me and tell me what will happen next...
November 15, 2014, 10:40:40 AM
Lemme help some of you new guys out. Whenever you see things like market price setting at a fake number like $399.99, and it sits there for more than 12-24 hours without going up, you can bet that a dump is incoming.
You're welcome.
(I hate this stupid market, but still hodl for life)
You're welcome.
(I hate this stupid market, but still hodl for life)
Ahem.
Right again. This supposedly unpredictable market has become so predictable.
November 15, 2014, 10:24:25 AM
How many different people use your account lambie? 
Plurality is an illusion, earthling.
~Your Beneficent Reptilian Overlords.
November 15, 2014, 10:22:17 AM
How many different people use your account lambie?
November 15, 2014, 10:21:33 AM
...
of course until something better arrives; oh wait - bitcoin
of course until something better arrives; oh wait - bitcoin
Lol, Bitcoin is the slide ruler in the age of smartphones--a clumsy dinosaur.
nfc is the safest technology out there
NFC is secure enough for what it's being used for. Similar to CC transactions, the risks are assumed by the provider, not the end user.
Of course, you're [unsurprisingly] missing the point.
November 15, 2014, 10:19:40 AM
...snip...
Blitz, you realise the Shroomskit account is used by (and this is an IIRC from a Shroomskit post months back) four different people (shared house? company) -- which explains the lack of consistency and distinct personality changes in posts every few days/hours. And none of them give a fuck about what the others post.
So, keep posting this is a bit like posting Parashat ha-Shavua to prove the Pope is Catholic. Save your time/bandwidth.
November 15, 2014, 10:15:59 AM
In a steady-state system, the price of a monetary asset is given by the "quantity theory of money", which states that:
P x Q = M x V, where
P is the price of the goods, Q is the amount of goods bought by the monetary asset, M is the amount of monetary asset in circulation, and V is the average velocity (the number of times per year that a given bitcoin is used to buy something).
Dump the velocity. and you are good to go. It has to be liquid, the owner needs to know that he can easily get rid of the bitcoins, actual trades are not needed.P x Q = M x V, where
P is the price of the goods, Q is the amount of goods bought by the monetary asset, M is the amount of monetary asset in circulation, and V is the average velocity (the number of times per year that a given bitcoin is used to buy something).
You cannot ignore the velocity. If everybody would pay their bills the same day they get the money, instead of waiting to the end of the month, the same amount of trading would require 1/30 as much currency in circulation. If the currency it bitcoin, the smaller demand would imply a lower value per BTC.
Moreover, the creation of virtual forms of the currency is inevitable. I could pay a merchant with a signed paper "I owe you 10 bitcoins, payable in 10 days", and the merchant can pay his supplier with that paper, if they trust me. We could deposit all our bitcoins in a "bitcoin bank", and pay each other with checks from those accounts. Such virtual bitcoins would reduce the demand for actual bitcoins.
There is indeed an initial "free" transfer of value from the whole economy using bitcoin in the end steady state towards two classes of people:
- those who give out the first time a bitcoin (the miners). This is called seigniorage. It is what central banks are good at: printing new money and cashing in on first distribution of it.
- the "early adopters" who stored value in bitcoin before its market value reached B. This last thing is something that has probably not been witnessed since gold became money in the early days of history.
- those who give out the first time a bitcoin (the miners). This is called seigniorage. It is what central banks are good at: printing new money and cashing in on first distribution of it.
- the "early adopters" who stored value in bitcoin before its market value reached B. This last thing is something that has probably not been witnessed since gold became money in the early days of history.
The second case has happened with many private currencies in the past, such as Platinum Pieces of the World of Warcraft game (is that right?), Second Life's Linden Dollars, and, presumably, the Liberty Dollar.
In the first case, the central banks are supposed to use the wealth that they take from the people through seignorage for the benefit of the people. That makes the practice acceptable to the majority of the population. (Whether the governments actually use that wealth for the people's benefit is a separate issue.) With private money like bitcoin, seignorage transfers wealth from the general population to the private individuals who created the currency. In the case of bitcoin, some seigneurs expected to suck in trillions of dollars that way.
November 15, 2014, 10:15:12 AM
...
of course until something better arrives; oh wait - bitcoin
of course until something better arrives; oh wait - bitcoin
Lol, Bitcoin is the slide ruler in the age of smartphones--a clumsy dinosaur.
nfc is the safest technology out there
November 15, 2014, 10:10:54 AM
...
of course until something better arrives; oh wait - bitcoin
of course until something better arrives; oh wait - bitcoin
Lol, Bitcoin is the slide ruler in the age of smartphones--a clumsy dinosaur.
November 15, 2014, 10:07:11 AM
Welcome to Never Never Land, ChartBuddy!
November 15, 2014, 10:05:14 AM
Not like this is a new thing...
November 15, 2014, 10:04:36 AM
close you could fairly say I'm describing a lot of penny stocks, however a typical stocks value isn't an arbitrary figure as a profitable company adds value to the stock in terms of re-investing in the underlying business and to share holders in the form of dividends.
When there *are* dividends, it is possible to fairly value a stock but when there are not and the price is based on reinvestment, you may be using some similar indicators to value a company but you are still basically relying on "greater fool".
I do agree there are a lot of stocks that rely on the greater fool and investing in them often times ends badly, but I think that's a bit of a simplistic view. Although it can be nice as a shareholder to get paid a dividend (there can also be tax drawbacks), a company should really only use it's profits to pay one as a last resort after considering whether the money could be more wisely spent re-investing back into the business, making acquisitions or buying back their own stock if they consider it undervalued. The growing tangible value of a company is just as relevant to a stocks price as whether or not a dividend is paid as are a company earnings.
November 15, 2014, 10:03:00 AM
Units of accounting in the unspent transaction outputs in the longest branch of the Satoshi20090103 blockchain (aka "bitcoins") are indeed scarce, as long as Gavin and the miners refrain from changing the protocol; but there is a potentially infinite number of blockchains with the same properties.
If, at some time in the future, a better altcoin comes along (say, with a 0.1 second mean confirmation time, or a distributed trustless way to seize and return stolen bitcoins), and takes over the bitcoin "market", there will be no central bank to swap old bitcoins for new ones at a fixed rate. Some owners of old bitcoins may be able to sell them to suckers in exchange for new ones, before they become worthless; but many will inevitably lose the money that they invested in BTC.
Bitcoin mining is currently financed by an "inflation tax" of 5-10% per year. At some point, that inflation will stop and the miners will start to require transaction fees. No one knows how much those fees will be, but mining is already an oligopoly market so a cartel of 2-3 mining companies can set the fees to whatever gives them maximum net revenue. By the way, those fees will apply to every transaction, including hotwallet-coldwallet moves, BTC deposits and withdrawals, etc..
There are no blockchains with the same properties: The property of block history will be different.
A large part of why Bitcoin must be considered experimental and dangerously volatile now, and for a long time to come, is that the trust model it proposes relies on building a history of flawless operation. No technical innovation can create this out of thin air, the only way to build it is by letting the system run and see what happens. The longer Bitcoin keeps working without being overtaken by an altcoin or succumbing to some flaw, technical or political, the greater its perceived reliability becomes.
There are a number of questions the Bitcoin system is seeking to answer right now, like what economical effect will the distribution model chosen end up having. One such question is: How much security does first-mover advantage provide in the crypto space? The only way to really find out is to wait, potentially forever. In the meantime, people act on their expectations.
another point would be trust in the system.
one of the reasons the biggest ponzi scheme called fiat is still working
of course until something better arrives; oh wait - bitcoin
November 15, 2014, 10:01:18 AM
November 15, 2014, 10:00:54 AM
I will leave this place soon. Bitcoin is dead, it's only down from here and i sold everything i got quite a while ago so there is nothing for me here anymore.
I tried to help the few delusional bulls who just won't give up but they don't appreciate my warnings very much. Ah well, your money. I don't care really.
I'll come back every 50 dollar drop for some entertainment. So long and thanks for buying my coins at 400. Poor schmucks.
Good luck with your pump and dump coin.
I tried to help the few delusional bulls who just won't give up but they don't appreciate my warnings very much. Ah well, your money. I don't care really.
I'll come back every 50 dollar drop for some entertainment. So long and thanks for buying my coins at 400. Poor schmucks.
Good luck with your pump and dump coin.
I feel sorry for all the idiots who sold at these ridiculous prices and i will laugh at all the bears who will get caught in trap after trap the coming weeks.
The only winners are the holders (like me) and the people who pick up the last cheap coins while they can.
We're going up and it's confirmed!
The only winners are the holders (like me) and the people who pick up the last cheap coins while they can.
We're going up and it's confirmed!
November 15, 2014, 10:00:01 AM
So will we get another round of
Just shaking out the weak hands.
Cheap coins!
Big money secretly accumulating.
And other bullshit or are we finally realizing Bitcoin turned into a ridiculous pump and mainly dump controlled by a few who will try to take the price down till every single buyer is gone and it has become completely worthless?
Just shaking out the weak hands.
Cheap coins!
Big money secretly accumulating.
And other bullshit or are we finally realizing Bitcoin turned into a ridiculous pump and mainly dump controlled by a few who will try to take the price down till every single buyer is gone and it has become completely worthless?
No just to get the price down until schizophrenic people like you sell. Then they will pump it again.
Jump to: