Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26430. (Read 26610289 times)

..."sentimental value."

This is a speculation forum, used by traders.  From a trader's perspective, Bitcoin's value approximates its exchange value/price.  No need for qualifiers because context.

look above, I did read to the end of that line and there you lost me.... a value of thing is not determined by my self only, it is determined by a whole community, if we think that the value (call it price if you want) of 1 Liter of milk is worth 1$ but then one farmer based on the miracle of grass and water going into the cow and turning out as milk (and shit and pee) think that that liter of milk is worth at least $1000, that farmer is going to have some bad time selling his shit. but if 20% of farmers think so then there is 20% of greedy motherfuckers, because 80% disagree.

we can go on and on trying to define this (I am wrong with the possibility of being right), but I personally am not buying that theory, wherever I go I pay €€ as a value of a thing. the value translate to that €€ and I didn't see yet in my life a community agrees on something having more value but lower price!!! in fact that just doesn't make any sense to me.


Edit: did read to the end and I just realized where your confusion is, you are defining the filthy capitalism.

  

I don't believe in charts or past trends. I just have a "gut feel" that price will go up in long term. Holding until it goes below $400 or above $700. Will buy more below $400; sell some when above $700.

So we're now already talking about a big giant crash that'll send us back into the $400s? I'm tempted to see this as the sign to go all in Many people will call this capitulation, I guess...

Explanation

I am expecting to see a large spike in BDD if support will be broken, price drops to the 420$ - 450$ next support level,
and large holders will send coins to exchanges to sell on the rather strong rebound that will follow. That should result in some weird volatility.

gaycoin is over.

On a more serious note, by offering definitions of distinct concepts of utility, value, and price, I was hoping to provide clarity.  Value, in particular, being rather abstract, tends to be used in especially diverse ways.  mmitech (who was quoted above, from behind the wall of ignore) infers a useful point:  Exchange value is one of the diverse ways in which the word "value" is used.  I offered a definition of "value" which was intended to add clarity by being technically accurate, a term of the monetary art, but it can't hope to do justice to the range of ordinary English language.  Perhaps the best way to add clarity in ordinary language is with modifiers, as e.g. "exchange value", "relative value", "functional value", and "monetary value".

But either way, I guess there haven't been any significant numbers been on the move for some time. I guess it's just that people are starting to get nervous or maybe the bid/ask ratio is freaking people out.

It's a measure of how many Bitcoin have been moved. If I move 1 Bitcoin that's been in a wallet for 1 Day, I destroyed 1 Bitcoin day. If I move 20 Bitcoin that've been in a wallet for 100 days, I've destroyed 2000 Bitcoin days.
You can detect large amounts of Bitcoin being moved (to exchanges?)

that chart doesn't seem to be working since the 4th of august.



from another site:

Nothing to do with school, I am just surprised we are back here again.


ok ... so do you have a wife or children?  I usually do this with hand drawn pictures as the example but today I think fingers suit better...

So say you have a wife and children ? How valuable to you (and them) are their fingers?  to me they are WORTH nothing...  and the PRICE I give you for them
on the open market is $0  

Lets switch this around- do your wife and childrens fingers have any VALUE to you? if so how much are they WORTH to you? and what PRICE will you pay to keep them all in one place with fingers attached to loved ones? more than my PRICE of $0? I bet and why is that? it is because they have more VALUE to you then they do to me, for me the PRICE  for your loved ones fingers is $0 for you I imagine and hope a very large figure lets say $100,000 or more

So my VALUE for fingers of your loved ones = Nothing
Your VALUE for fingers of loved ones = Lots

The PRICE  I would pay for your loved ones fingers = $0
Your  PRICE you would pay for your loved ones fingers = $100,000

Also - you can make inference on the supply and demand- lets try this again with your loved ones hair- there is a large supply of hair - would you pay $100,000 if someone was to cut off your loved ones hair? no and why not ? BECAUSE THERE IS A LARGER SUPPLY!!! and you do not place as much VALUE on the WORTH of your loved ones hair because there is plentiful SUPPLY- and therefore I nor you have any DEMAND for the HAIR , which is why there is NO VALUE, and NO WORTH to the hair- Something with plentiful SUPPLY and LOW DEMAND will have a LOW PRICE -

Fingers and heads of loved ones come with a very limited SUPPLY - and also a high VLAUE AND WORTH to you - and so therefore if you had to you would pay a HIGH PRICE to acquire your loved ones back plus all FINGERS AND TOES AND HEAD.  

Get it? VALUE and PRICE and WORTH  are different things...

SUPPLY AND DEMAND plays an important role...

VALUE is SUBJECTIVE and PRICE IS NOT ...


another example- you are in a desert-  starving and dehydrated - but you have a large bar of gold... you are dying , you need water or you will die...

I come across you , and I offer you WATER for GOLD...

But this Gold is worth $1 million dollars you cry...

But I live in the desert I reply and I have no use for GOLD , I already have lots of gold, an dI will happily live without anymore

Well I will not give you $1 million in GOLD for WATER...

Ok cheerio then g'bye...

NO WAIT YOU CRY (realising you will die) I WILL MAKE THE DEAL...

Then we exchnage the 1 million worth of GOLD for WATER and some FOOD, and you survive...

I and my donkeys walk off with 1 MILLION WORTH OF GOLD

Why would this happen? did the PRICE of the GOLD change during this ? nope it was and still is worth 1 MILLION....

What changed? the VALUE and what it was WORTH to you changed...  the PRICE stayed the same ...

Also if there was a greater SUPPLY of WATER, then your DEMAND would not have been so great... and so it would not have been WORTH as much to you.

The Price of the GOLD Remains the PRICE - the VALUE is SUBJECTIVE ...  just like with your loved ones fingers and toes.

 



ps Also your horseshit thing is not making sense...  there is a value to it (it is useful) but not hugely so.. but there is a plentiful supply - a HUGE supply never ending- and so the DEMAND is not so great- there is still a VALUE to it, and therefore SOME DEMAND and so there is a PRICE reached , but the price for a horse owner, (or his neeeeighbour) who has a greater supply, is much lower than it would be for a city dweller who goes to a garden center and buys that shit (hee hee)

what means bitcoin days destroyed, by the way?

I think he means that bitcoins interchanged for ethers has been dumped to pay the expenses of the ether project. And it could be that ether itself is vaporware/scamware or something between

https://blockchain.info/charts/bitcoin-days-destroyed

guess not.

people might have redeemed an old 50BTC paper wallet to buy in a monstrous position on ether, and ether said they sell...

Could you elaborate on this?? I think if people are buying ether, their coins get to the people behind the whole ether project... Have they sold their coins? I think they haven't moved yet, right? What do you mean, old coins are coming out of the closet?

lol that is interesting.

but we seen enghout of that... at this point, 568 this is pretty disastrous...  lets see if my bid filled i went all in last night...

I am not sure if a horse shit value is very high, but a horse his shit could in itself be of very high value, but only if cow shit supply is low.

It's a pseudonymous currency, of course we don't know the number of users or adoption rates.  And we likely never will unless people volunteer to answer surveys or something similar.

We do know that outside corporations seem to believe adoption is growing, or possibly that they wish for it to grow.  The evidence is increasing adoption by businesses.  Why did Visa state that they could incorporate bitcoin into their system?  Why did Global Payments allow bitcoin payments to their clients?  Either a) increased adoption is happening, or b) they want increased adoption to occur.

Disastrous? Not really, from a TA perspective this still allows for a bullish scenario.
But if during the next 1 - 2 days long term support at 540$ will be broken (and I believe it will), then capitulation is a must.
It will be fun to watch the panic manifested in these forums and this thread.