Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26428.

kireinaha

sr. member

Activity: 350

Merit: 253

Quote from: Torque on August 12, 2014, 03:01:54 PM

Quote from: kireinaha on August 12, 2014, 02:01:41 PM

This has to be the weakest bull trap I've ever seen. It will break soon followed by several more weeks of sideways down trending. TERA tried to tell you all this but you drove her away for having a "contrarian" opinion.

You're so right, man! My bitcoin that was worth $588 yesterday is only worth $570 today!!! What a devastating crash, a btc crash to end all crashes!!

_{(In. case. you. can't. tell. that. was. mega. sarcasm.)}

And it was worth $600 a couple weeks ago and worth $630 a week before that and $680 only a couple months ago. You're welcome to keep holding if you'd like, but smart people are reducing their exposure right now.

JayJuanGee

legendary

Activity: 3920

Merit: 11299

Self-Custody is a right. Say no to"Non-custodial"

Quote from: mmitech on August 12, 2014, 08:21:43 AM

Quote from: empowering on August 12, 2014, 08:14:03 AM

Quote from: mmitech on August 12, 2014, 07:55:08 AM

Quote from: aminorex on August 12, 2014, 07:46:08 AM

Quote from: Kipsy89 on August 12, 2014, 07:34:30 AM

Quote from: fonsie on August 12, 2014, 07:28:04 AM

Anyone noticed that the value of Bitcoin has risen quite a lot the last half year, regardless the price of bitcoin?

Whoa what do you mean by that? The price is the measure of how valuable a Bitcoin is, isn't it? I don't seem to be getting what you're trying to say here. Please enlighten us, man Cheesy

The utility of bitcoin is the sum of the benefits derived from its applications by its users.

The value of bitcoin is the size of its transactional economy over a given period.

The price of bitcoin is wherever the market happens to clear.

Only in the case of perfectly rational actors under perfectly efficient condtions will these three coincide.

I don't agree, this is just delusional stuff you are talking, a value of a bitcoin is exactly what it can be exchanged for (in terms of goods and services) compared to what can a dollar (or gold, Euro, Yen...) be exchanged for.

Edit: with this logic: gold has no value and a visa card have more value than a Bitcoin.... see this is just horseshit.

No ... that is the PRICE of Bitcoin, not is VALUE, they are two totally different things (and WORTH is different thing all together again)

PRICE is arrived at often where supply meets demand, and the demand of something comes from how much VALUE is placed on it by people -VALUE is usually quite subjective whilst PRICE is not.

SUPPLY - DEMAND

VALUE - PRICE

PRICE is what you pay and VALUE is what you get.

This is stuff people should learn in high school and I cannot believe this conversation is happening at all tbh

I don't care what they taught you in school but a value of a thing is what it can be exchanged for (which in our age is compared to the currency we use)...the price is defined by supply and demand.

your logic is the following: a horse shit value is very high because it can be used for agricultural needs, but because there is no demand and the supply is high the value didn't meet the price, is that what you want to teach me ?

LET'S face it. You cannot be taught...... YOU have already demonstrated that Over and over and over and over and over. That is part of the reason that you are RETARDED!!! such sad Sad

so embarrassed

much cry

edwardspitz

sr. member

Activity: 546

Merit: 250

The mystery bomb hugger steps in.

findftp

legendary

Activity: 1022

Merit: 1008

Delusional crypto obsessionist

JayJuanGee

legendary

Activity: 3920

Merit: 11299

Self-Custody is a right. Say no to"Non-custodial"

Quote from: mmitech on August 12, 2014, 07:55:08 AM

Quote from: aminorex on August 12, 2014, 07:46:08 AM

Quote from: Kipsy89 on August 12, 2014, 07:34:30 AM

Quote from: fonsie on August 12, 2014, 07:28:04 AM

Anyone noticed that the value of Bitcoin has risen quite a lot the last half year, regardless the price of bitcoin?

Whoa what do you mean by that? The price is the measure of how valuable a Bitcoin is, isn't it? I don't seem to be getting what you're trying to say here. Please enlighten us, man Cheesy

The utility of bitcoin is the sum of the benefits derived from its applications by its users.

The value of bitcoin is the size of its transactional economy over a given period.

The price of bitcoin is wherever the market happens to clear.

Only in the case of perfectly rational actors under perfectly efficient condtions will these three coincide.

I don't agree, this is just delusional stuff you are talking, a value of a bitcoin is exactly what it can be exchanged for (in terms of goods and services) compared to what can a dollar (or gold, Euro, Yen...) be exchanged for.

Edit: with this logic: gold has no value and a visa card have more value than a Bitcoin.... see this is just horseshit.

That is part of the reason that some people in this thread deem you as "retarded" b/c you cannot seem to differentiate concepts, and what makes it worse is that you fail to recognize your inability to differentiate concepts and then to insist upon your own inadequate view of the way that things work in the world.

edwardspitz

sr. member

Activity: 546

Merit: 250

Could it be one of those bearish pennants?

mmitech

legendary

Activity: 1148

Merit: 1001

things you own end up owning you

Quote from: dropt on August 12, 2014, 02:59:11 PM

Quote from: kireinaha on August 12, 2014, 02:01:41 PM

This has to be the weakest bull trap I've ever seen. It will break soon followed by several more weeks of sideways down trending. TERA tried to tell you all this but you drove her away for having a "contrarian" opinion.

The bulls right now:

http://im41.com/wp-content/uploads/2013/11/wpid-fingers-in-ears3.jpeg

I'm a bull and just sent 5k to the exchange. I'm buying while all you dipshits sell.

tells allot about you.

Torque

legendary

Activity: 3780

Merit: 5429

Quote from: kireinaha on August 12, 2014, 02:01:41 PM

This has to be the weakest bull trap I've ever seen. It will break soon followed by several more weeks of sideways down trending. TERA tried to tell you all this but you drove her away for having a "contrarian" opinion.

You're so right, man! My bitcoin that was worth $588 yesterday is only worth $570 today!!! What a devastating crash, a btc crash to end all crashes!!

_{(In. case. you. can't. tell. that. was. mega. sarcasm.)}

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: kireinaha on August 12, 2014, 02:01:41 PM

This has to be the weakest bull trap I've ever seen. It will break soon followed by several more weeks of sideways down trending. TERA tried to tell you all this but you drove her away for having a "contrarian" opinion.

The bulls right now:

http://im41.com/wp-content/uploads/2013/11/wpid-fingers-in-ears3.jpeg

I'm a bull and just sent 5k to the exchange. I'm buying while all you dipshits sell.

inca

legendary

Activity: 1176

Merit: 1000

Quote from: kireinaha on August 12, 2014, 02:01:41 PM

This has to be the weakest bull trap I've ever seen. It will break soon followed by several more weeks of sideways down trending. TERA tried to tell you all this but you drove her away for having a "contrarian" opinion.

The bulls right now:

Yap yap yap. We get it you sold. Pathetic.

JayJuanGee

legendary

Activity: 3920

Merit: 11299

Self-Custody is a right. Say no to"Non-custodial"

Quote from: aminorex on August 12, 2014, 07:46:08 AM

Quote from: Kipsy89 on August 12, 2014, 07:34:30 AM

Quote from: fonsie on August 12, 2014, 07:28:04 AM

Anyone noticed that the value of Bitcoin has risen quite a lot the last half year, regardless the price of bitcoin?

Whoa what do you mean by that? The price is the measure of how valuable a Bitcoin is, isn't it? I don't seem to be getting what you're trying to say here. Please enlighten us, man Cheesy

The utility of bitcoin is the sum of the benefits derived from its applications by its users.

The value of bitcoin is the size of its transactional economy over a given period.

The price of bitcoin is wherever the market happens to clear.

Only in the case of perfectly rational actors under perfectly efficient condtions will these three coincide.

I would like to frame this on my wall, b/c it is a GREAT reminder to keep clear about which one(s) of these you are talking about. Did monkey come up with this framework? Cheesy

If so, s/he is Brilliant.

empowering

legendary

Activity: 1078

Merit: 1441

pfffffffffffft

kireinaha

sr. member

Activity: 350

Merit: 253

This has to be the weakest bull trap I've ever seen. It will break soon followed by several more weeks of sideways down trending. TERA tried to tell you all this but you drove her away for having a "contrarian" opinion.

The bulls right now:

Adrian-x

legendary

Activity: 1372

Merit: 1000

I'm beginning to think coins are accumulating disproportionately to the adoption rate, with out the hard data it feels like we're headed into a 2011 style dry test of faith.

I think there is about a 40% chance we will be grinding lower or sideways or much the same over a prolonged period maybe even as long as 12 months optimistically seeing a spike into the thousands before the new year.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

empowering

legendary

Activity: 1078

Merit: 1441

Quote from: U.S. Treasury on August 12, 2014, 01:48:17 PM

Quote from: kireinaha on August 12, 2014, 01:14:34 PM

Quote from: Jesus Christ on August 12, 2014, 12:51:03 PM

Sorry, I don't do altcoins. Bearish times for BTC ahead, I'm afraid.

If Jesus Christ decides to sell... then I think it's time to sell.

We're selling too, USDcoin TO THAA MOON! CCMF!

awhh how cute and you two joining day buddies and everything... awhhh

U.S. Treasury

newbie

Activity: 15

Merit: 0

Quote from: kireinaha on August 12, 2014, 01:14:34 PM

Quote from: Jesus Christ on August 12, 2014, 12:51:03 PM

Sorry, I don't do altcoins. Bearish times for BTC ahead, I'm afraid.

If Jesus Christ decides to sell... then I think it's time to sell.

We're selling too, USDcoin TO THAA MOON! CCMF!

empowering

legendary

Activity: 1078

Merit: 1441

margin and leverage = evil

rebuilder

legendary

Activity: 1615

Merit: 1000

Quote from: oda.krell on August 12, 2014, 12:29:12 PM

Quote from: JorgeStolfi on August 12, 2014, 03:28:07 AM

Quote from: Threebits on August 12, 2014, 03:00:35 AM

With Metcalfe's law, bitcoin is indeed quite promising, as the users have been increasing and are expected to increase further.
This means the value of bitcoin is increasing. Could this argument be valid?

We do not know whether the number of "bitcoin users" is increasing.

The sources that I know (such as blockchan.info) do not give that information. They give some quantities (such as wallet software downloads, transactions per day, total BTC volume per day) from which some people claim to be able to derive the number of users. However, those quantities include an unknown amount of operations that do not imply real additional use. Some of them (like total BTC volume) have been relatively constant for the last 6 months. Moreover, there is no information at all about people who stopped "using" bitcoin, e.g. after buying a bit just for curiosity.

Yes, we actually do.

blockchain.info stats aren't the only source saying so. Online wallet stats, number of vendors accepting Bitcoin... there's plenty of evidence of growth well above linear increase (cue: "doesn't mean it's long-term exponential").

Your argument runs down to: but all those stats could be faked/manipulated by entities high enough in the decision chain of exchanges or websites. While theoretically possible, you have to ask yourself it is the most likely explanation of the data.

There's plenty of fraud and deception in the Bitcoin ecosystem, but what you seem to have in mind is a level of organized deception that you cannot simply "claim" to be the reason for the data. If you have solid proof for it, let us know. Otherwise, I could dismiss anthropogenic global warming by claiming that measuring stations world wide were manipulated by Jewish space lizards -- it's a possibility, y'know.

tl;dr The most likely reason to generate data indicating exponential growth in usage is actual usage. Claiming otherwise requires evidence, which I have yet to see.

It doesn't have to be manipulation. Say you're laundering coins on a regular basis. Say you're using Blockchain.info to do this. How many throwaway wallets a month would an automated system built for this purpose generate? What about several of them?

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