Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26464.

scarsbergholden

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Quote from: windjc on August 08, 2014, 04:44:55 PM

Quote from: JayJuanGee on August 08, 2014, 04:39:08 PM

Quote from: windjc on August 08, 2014, 04:34:19 PM

Quote from: Odalv on August 08, 2014, 04:33:06 PM

Quote from: Heisenberg85 on August 08, 2014, 04:14:48 PM

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

... seems like, people love to throw out money. :-)

One of the most amazing things I've ever seen.

What is so amazing? They sold a bunch of Ethereum, and then they are cashing out in increments in order to pay for some "business expenses." Are the amounts off or what?

The fact that people have already donated 25K+ btc to Etherium and when/if it launches the market is going to crash.

Meanwhile, Ether is inflationary and its market concepts work to lessen the value of Ether over time as well.

Its a horrible horrible investment. Horrible.

And yet countless people are throwing their money away at it.

Wow, that's a lot of BTC people put in. Never understood why I should buy Ether, myself. Any thoughts on whether this 25k+ BTC might have a negative impact on BTC/USD?

windjc

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Quote from: JayJuanGee on August 08, 2014, 04:39:08 PM

Quote from: windjc on August 08, 2014, 04:34:19 PM

Quote from: Odalv on August 08, 2014, 04:33:06 PM

Quote from: Heisenberg85 on August 08, 2014, 04:14:48 PM

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

... seems like, people love to throw out money. :-)

One of the most amazing things I've ever seen.

What is so amazing? They sold a bunch of Ethereum, and then they are cashing out in increments in order to pay for some "business expenses." Are the amounts off or what?

The fact that people have already donated 25K+ btc to Etherium and when/if it launches the market is going to crash.

Meanwhile, Ether is inflationary and its market concepts work to lessen the value of Ether over time as well.

Its a horrible horrible investment. Horrible.

And yet countless people are throwing their money away at it.

mmitech

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Activity: 1148

Merit: 1001

things you own end up owning you

Quote from: JayJuanGee on August 08, 2014, 04:33:21 PM

O.K..... So fucking what? Huh

If BTC does NOT last 20 years, then who gives a flying fuck. There is a lot of time between NOW and 20 years to adjust our investment portfolio.

We are investing today, and we can cross that next investment decision bridge when we get there or if we get there. For NOW, BTC is one of the best investment vehicles in town.... so why NOT invest into it, and see where it goes? If in 1 year or 2 years or 5 years, we need to reassess the situation and reassess our investment portfolio, then we will reassess the situation at that time.

I don't know why you are frustrated ? did I say it is not ? because now you are putting words on my mouth, the thing is like we say here: you are jerking off the air, I don't understand about what you are getting pissed off?

JayJuanGee

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Activity: 3920

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

Quote from: windjc on August 08, 2014, 04:34:19 PM

Quote from: Odalv on August 08, 2014, 04:33:06 PM

Quote from: Heisenberg85 on August 08, 2014, 04:14:48 PM

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

... seems like, people love to throw out money. :-)

One of the most amazing things I've ever seen.

What is so amazing? They sold a bunch of Ethereum, and then they are cashing out in increments in order to pay for some "business expenses." Are the amounts off or what?

windjc

legendary

Activity: 2156

Merit: 1070

Quote from: Odalv on August 08, 2014, 04:33:06 PM

Quote from: Heisenberg85 on August 08, 2014, 04:14:48 PM

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

... seems like, people love to throw out money. :-)

One of the most amazing things I've ever seen.

JayJuanGee

legendary

Activity: 3920

Merit: 11299

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

Quote from: mmitech on August 08, 2014, 03:46:34 PM

Quote from: JayJuanGee on August 08, 2014, 03:39:40 PM

Quote from: mmitech on August 08, 2014, 03:16:40 PM

Quote from: JayJuanGee on August 08, 2014, 03:10:59 PM

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below. The only way that value gets transferred lower down the pyramid is to find more suckers below. None of these listed items are pyramid schemes, unless they are designed as such. Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

you know a sucker like you and me who made Satoshis and the winklevoss and ...... coins more valuable, the last ones in the pyramid will have 0 vale when Bitcoin collapse (it will collapse at one point in the future).

and it is a pyramid, because at the start people created the coin of nothing, well, except the few cents consumed by the processor on power, they hoarded and pumped the value so more suckers jumped in through time. I am one of them BTW.

well yea, it is genius that it solved a mathematical problem....same like tampon did solve a problem if you ask a woman.

Just because there is a decent potential that Bitcoin could collapse at one day in the future does NOT cause bitcoin to be a pyramid scheme or early adopters to be suckers.

There are a lot of potential scenarios for a bitcoin collapse and some of those scenarios involve a near immediate collapse, other scenarios involve a long and drawn out collapse and other scenarios involve a collapse that is hundreds of years in the future.

In other words, your giving great weight to a potential and in your implied "inevitable collapse" of bitcoin does NOT provide sufficient specifics in order to denigrate it's current status to some sort of "scheme."

I will argue that it wont be hundred of years, I dont know even if it will last 20 years before it collapses, there is many theories why it would happen, we've talked about it many times, the thing is I think the world in 10-20 years is not going to be the same as we see it today, I dont think the fiat systems will hold for long as well, but I am trying to figure out what the outcome will be...

the wars that are happening now will have a huge impact on the picture of our lives in the next 20 years (if we will be safe to live that long), and I just dont see Bitcoin in the picture.

O.K..... So fucking what? Huh

If BTC does NOT last 20 years, then who gives a flying fuck. There is a lot of time between NOW and 20 years to adjust our investment portfolio.

We are investing today, and we can cross that next investment decision bridge when we get there or if we get there. For NOW, BTC is one of the best investment vehicles in town.... so why NOT invest into it, and see where it goes? If in 1 year or 2 years or 5 years, we need to reassess the situation and reassess our investment portfolio, then we will reassess the situation at that time.

JayJuanGee

legendary

Activity: 3920

Merit: 11299

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

Quote from: mmitech on August 08, 2014, 04:24:25 PM

Quote from: Schickeria on August 08, 2014, 04:10:40 PM

Quote from: JayJuanGee on August 08, 2014, 03:10:59 PM

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below. The only way that value gets transferred lower down the pyramid is to find more suckers below. None of these listed items are pyramid schemes, unless they are designed as such. Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

this is exactly what I was trying to say, you just did it better, thanks.

NO matter what you were trying to say, pyramid scheme does NOT apply to bitcoin. That is the main point that should be taken from this.

You can attempt to retroactively fix whatever it was that you were trying to say, but what would be better would be if you would attempt to be more accurate in what you are attempting to claim regarding bitcoin.

Thanks for your efforts....

Odalv

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Quote from: Heisenberg85 on August 08, 2014, 04:14:48 PM

4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

25,258.21172894 BTC is at "Exodus address".

https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

... seems like, people love to throw out money. :-)

mmitech

legendary

Activity: 1148

Merit: 1001

things you own end up owning you

Quote from: hdbuck on August 08, 2014, 04:19:58 PM

Quote from: ?? on ??

Quote from: Schickeria on August 08, 2014, 04:10:40 PM

Quote from: JayJuanGee on August 08, 2014, 03:10:59 PM

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below. The only way that value gets transferred lower down the pyramid is to find more suckers below. None of these listed items are pyramid schemes, unless they are designed as such. Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

this is exactly what I was trying to say, you just did it better, thanks.

looks like you quoted yourself. Tongue

fixed, thanks

mmitech

legendary

Activity: 1148

Merit: 1001

things you own end up owning you

Quote from: Schickeria on August 08, 2014, 04:10:40 PM

Quote from: JayJuanGee on August 08, 2014, 03:10:59 PM

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below. The only way that value gets transferred lower down the pyramid is to find more suckers below. None of these listed items are pyramid schemes, unless they are designed as such. Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

this is exactly what I was trying to say, you just did it better, thanks.

hdbuck

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Quote from: ?? on ??

Quote from: Schickeria on August 08, 2014, 04:10:40 PM

Quote from: JayJuanGee on August 08, 2014, 03:10:59 PM

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below. The only way that value gets transferred lower down the pyramid is to find more suckers below. None of these listed items are pyramid schemes, unless they are designed as such. Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

this is exactly what I was trying to say, you just did it better, thanks.

looks like you quoted yourself. Tongue

mmitech

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Activity: 1148

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things you own end up owning you

Quote from: Richy_T on August 08, 2014, 04:00:01 PM

Quote from: mmitech on August 08, 2014, 03:51:32 PM

I will make sure he wont find about it Wink

no seriously, I might be a little harsh lately, but I wont take all the credits, people are getting more nervous and intolerant, the only time people are cheering here (bulls and bears) is when a bubble happens. so we need one ASAP.

they like it when you say what they want to hear, even if you draw some nonsense lines on a chart ( as I was watching lately), but the moment you say anything they don't like ( and most of the time it is true) you become the asshole imbecile and the low life that no one want to hear.

To be fair, the main issue I have is with your pyramid comment. The defining aspect of a pyramid scheme is that to continue to succeed, it must continue to grow indefinitely. Once growth stops, the whole thing implodes. Bitcoin has growth, as do many things in their early stages but the test is whether it can continue to be successful once adoption tails off. It's my belief that there is no reason this should not be the case for Bitcoin. So not a pyramid, more like a house.

Pyramid:

http://www.k6-geometric-shapes.com/image-files/pyramid-base-triangle.jpg

House:

http://www-01.ibm.com/support/knowledgecenter/api/content/ssw_aix_53/com.ibm.aix.graPHIGS/doc/phigsund/figures/AFM24r02.jpg

I assumed you would know this stuff. Hence the Jr comment.

assuming that most of us didn't join the community ( join as invested in), do you think that Bitcoin would be successful and would get all the hype in the media ? for Bitcoin to succeed as a value transfer mechanism or a currency it has to do allot of things. for example: there is a theory about competing and efficiency, while I know and you know that Bitcoin can do somethings better than the old fashion banking system and the Fiat principals there is also a part of convincing people to adopt this technology, if you you wont make the difference so huge so people are convinced to jump in, then Bitcoin is simply in trouble, because the adoption rate will start descending and the usability of Bitcoin will also follow.

Heisenberg85

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4-5k BTC to be dumped on the market within next 48h

https://blog.ethereum.org/2014/08/08/announcement-on-planned-exodus-withdrawal/

Schickeria

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Quote from: JayJuanGee on August 08, 2014, 03:10:59 PM

Most of these things listed above are NOT pyramid schemes, unless they are causing value to float to the top without any reciprocating value being transferred below. The only way that value gets transferred lower down the pyramid is to find more suckers below. None of these listed items are pyramid schemes, unless they are designed as such. Bitcoin is also NOT a pyramid scheme b/c there are tangible assets, including an infrastructure and a network and continued investments in side businesses.... NO need to explain further at the moment b/c these pyramid scheme/ponzi arguments are totally attempting to simplify bitcoin into something that it is NOT and playing upon ignorance.

What you are writing is correct but you are arguing in a sophistry manner, bitcoin is no pyramid scheme, regarding the typical fraudulent definitions. It's a semantic shift by mmitech, talking of pyramid scheme but meaning a pyramidical wealth distribution. Reading you, I get the impression that you are not silly (even as I would not agree with a lot of your quoted text) and you understood the regarding context. That the wealth of bitcoin is distributed as a pyramid - I think this is undoubtably. But as I said earlier, that is capitalism - not only bitcoin.

Richy_T

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: mmitech on August 08, 2014, 03:51:32 PM

I will make sure he wont find about it Wink

no seriously, I might be a little harsh lately, but I wont take all the credits, people are getting more nervous and intolerant, the only time people are cheering here (bulls and bears) is when a bubble happens. so we need one ASAP.

they like it when you say what they want to hear, even if you draw some nonsense lines on a chart ( as I was watching lately), but the moment you say anything they don't like ( and most of the time it is true) you become the asshole imbecile and the low life that no one want to hear.

To be fair, the main issue I have is with your pyramid comment. The defining aspect of a pyramid scheme is that to continue to succeed, it must continue to grow indefinitely. Once growth stops, the whole thing implodes. Bitcoin has growth, as do many things in their early stages but the test is whether it can continue to be successful once adoption tails off. It's my belief that there is no reason this should not be the case for Bitcoin. So not a pyramid, more like a house.

Pyramid:

House:

I assumed you would know this stuff. Hence the Jr comment.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

windjc

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Quote from: Sandia on August 08, 2014, 03:57:07 PM

I wonder if providing USD swaps might be a gateway drug for buying btc.

Yes. I can speak from personal experience.

I imagine 95%+ of swap providers own btc too, but it is definitely a gateway for buying MORE btc.

windjc

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Quote from: magicmexican on August 08, 2014, 03:55:26 PM

12h-1d-3d all look kinda bullish, but short term and 1w looks meh.

However i have a feeling that market will just give up on going 570< at some point, unless there will be some kind of fuel to it

I am 95% most of the 3500 BTC between $590-$600 is fake on Stamp. Someone is trying to cap the price over the weekend.

If we don't fall back to $580 before China makes one more big move up, $600 is going to fall on Stamp quicker than it looks, imho.

For right now, it feels like we are coiling, with a move upward feeling more and more likely.

Sandia

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I wonder if providing USD swaps might be a gateway drug for buying btc.

magicmexican

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12h-1d-3d all look kinda bullish, but short term and 1w looks meh.

However i have a feeling that market will just give up on going 570< at some point, unless there will be some kind of fuel to it

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26464. (Read 26609317 times)