Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26749.

Raystonn

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Quote from: JorgeStolfi on July 15, 2014, 03:46:57 PM

Quote from: jeezy on July 15, 2014, 03:26:57 PM

Hey look, it's one of those "not backed by anything" guys again. Grab the pitchforks! Wink

I am not saying that; that is just the way the SEC presumably sees it.

Bitcoin is backed by energy. Its Proof of Work requirement is essentially a proof of expenditure of energy. You cannot spend a unit of energy more than once. You can spend it on mining Bitcoin, mining another PoW coin, or something else like running your household. Energy is a commodity that has a price, and it cannot be counterfeited.

Now Proof of Stake coins... that's another topic. There's nothing backing those. You can hold an infinite number of different PoS coins. Inflation through diversification into new PoS coins will ultimately destroy purely PoS coins.

ChartBuddy

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Explanation

hyphymikey

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Quote from: rabsie on July 15, 2014, 11:08:37 PM

4 million a day in interest lol...

go back to school.

ha my bad, drunk night.

rabsie

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4 million a day in interest lol...

go back to school.

ChartBuddy

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hyphymikey

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Quote from: byronbb on July 15, 2014, 12:04:30 PM

Quote from: dropt on July 15, 2014, 11:26:28 AM

Quote from: ?? on ??

Tinfoil hat again but judging by the amount that whale on stamp is willing to dump whenever it rises I'm guessing they stand to lose an awful lot if it goes up much. One scenario would be someone lending on bitfinex, selling part of his stash to the borrowers then holding the price down until they have to cut their losses, he gets the interest and buys back his coins at a lower price. All this selling is coming from somewhere and if there's not a foil wrapped answer then it has to be a few million dollars a day in bitcoin commerce. If that's it then there will probably be a period of hysteresis, overshooting up and down until it finds an equilibrium plus it will be very bullish for when the payment processors release figures.

That's an interesting concept: holding the market down for interest collection.

I wish I had some time to play with the data to contemplate this theory a little more in depth.

Yes I had this very thought. THe leverage longs are simply being milked as the price stagnates.

A few pages old but...

A couple of week ago I though that this might be that case but lenders on BFX get paid in USD. So they would then have to convert to BTC on BFX and send to Bitstamp in order for this to occur. That would send BFX to a higher price than Bitstamp and this hasn't happened yet. Although I do think some lenders may be trying to keep the price flat as to keep people in their position longer, they would have to have another stash of bitcoin to be used on other exchanges beforehand. There is $31 Million lent out so over 46K a day is being made by lenders in interest. It does make an interesting tin foil hat scenario but I don't think they are profiting from lending and directly dumping on other exchanges

Edit: Math

shmadz

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@theshmadz

Quote from: CoinsCoinsEverywhere on July 15, 2014, 08:48:09 PM

Quote from: ShroomsKit on July 15, 2014, 06:14:33 PM

Could it be that drawing lines on a chart is completely and totally useless?

Perception is reality ...

Edited for brevity, and truth.

ChartBuddy

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smiley123

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Quote from: ejinte on July 15, 2014, 09:49:46 PM

Quote from: soullyG on July 15, 2014, 12:41:03 PM

Google just added BTC <> fiat conversions:

https://www.google.com/search?q=1+btc+in+usd

Dosent work for me

It won't work if you have google.com script disabled.

ejinte

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Quote from: soullyG on July 15, 2014, 12:41:03 PM

Google just added BTC <> fiat conversions:

https://www.google.com/search?q=1+btc+in+usd

Dosent work for me

derpinheimer

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Huobi just loves to dump lately Sad

ChartBuddy

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CoinsCoinsEverywhere

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Quote from: ShroomsKit on July 15, 2014, 06:14:33 PM

For the last 4 weeks every day people post charts that show how we are about to go up. If anything we go down.
Could it be that drawing lines on a chart is completely and totally useless?

Perception is reality in auction-based markets like bitcoin. What matters most is what everyone believes. If enough people believe it's going up, then it will go up, and vice-versa. That's why chart patterns work fairly often. Most people look at the same or similar charts. So if a classic pattern like a wedge, double-top/bottom, head and shoulders, etc., sets up, a lot of people are looking for it to follow through. They act based on that, and it becomes a self-fulfilling prophecy. Of course there are other things that can change perception, like fundamentals. But in the absence of ground-shaking news, technical analysis tends to do pretty well.

spooderman

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Evening bitcoiners:) Nice that google started that thing...

ChartBuddy

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roslinpl

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Quote from: ChartBuddy on July 15, 2014, 07:00:21 PM

Explanation

China is waking up

And Europe is sleeping

have you seen that usually at this hour there is few $ ++ ?

shmadz

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@theshmadz

Quote from: adamstgBit on July 15, 2014, 06:24:24 PM

...

more often then not its half right half the time.

I'll take those odds!

Davyd05

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down or up ... bitcoin is still amazing Cheesy

ChartBuddy

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adamstgBit

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Trusted Bitcoiner

Quote from: ShroomsKit on July 15, 2014, 06:14:33 PM

Quote from: dnaleor on July 15, 2014, 05:25:30 PM

Quote from: ?? on ??

Quote from: dnaleor on July 15, 2014, 03:20:38 PM

I'm already seated in the bumpy Monero train:

+1! Full speed to 0.015 Grin

lol, that will take a while Wink

We'll see a lot of selling above 0.008 I guess

but back on topic (maybe we should create a Monero Wall Observer Wink

)

I've updated my favorite chart: It's time to go up:

Blue: actual exchange rate
Red: April 2013 repeating (low of this bubble matched with low after China bubble)
Green: Nov/dec 2013 repeating (low of this bubble matched with low after the same bubble)
black: exponential trendline current data
DATA: bitcoinaverage.com

For the last 4 weeks every day people post charts that show how we are about to go up. If anything we go down.
Could it be that drawing lines on a chart is completely and totally useless?

no way lines on charts all the way everyday

Quote from: adamstgBit on July 14, 2014, 08:10:30 PM

still waiting for that 640 break out, launch pad still looks good, we are getting closer to decision time, 4-9.5 days till break out. ( should launch pad hold Tongue

)

it predicts the future more often then not its half right half the time.

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