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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27584. (Read 26712718 times)

legendary
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sr. member
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willy 2
willy 3
willy 4.....
legendary
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Seems the market still wants to go up so I'm thinking we'll see $620 at some point tomorrow.

not the market.. willy 2 Grin
hero member
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Seems the market still wants to go up so I'm thinking we'll see $620 at some point tomorrow.
sr. member
Activity: 362
Merit: 250
However, by that measure bitcoin has already achieved success. The bitcoin network currently mediates between 50 and 60 thousand transactions every day, transferring an estimated 70 million USD every day.
As far as bootstrapped nascent currency experiments go, bitcoin should certainly fulfill many criteria for "success" already.
Curioulsy the number of transactions per day and their total BTC volume have increased very little, or not at all, since September last year.  So, either commercial e-payments  are a small fraction of those numbers, or they are not increasing (and their USD volume is actually decreasing, since the BTC price has fallen considerably in that period).

Has not grown since a date arbitrarily chosen by you? (Or perhaps deliberately chosen by you in order to make a point?) Well, I guess it's a failure, then...

Facts:
(1) Bitcoin is moving large sums around every day.
(2) It is very useful for "many" (tens of thousands/hundreds of thousands?) people.
(3) The usage has increased - maybe not steadily, but consistently.

I guess it's OK to be skeptical, and it's quite correct to be wary of speculating in the bitcoin price. But to claim it is anything other than a resounding success is disingenuous. It's already successful and is making life easier for a large number of people.

And since you are from Brazil, let me ask you: have you ever tried receiving payments from abroad? It is exceptionally expensive and time-consuming to send money to Brazil from a foreign country by regular banking channels. Bitcoin facilitates this tremendously, and is used by many. Is that not enough to be considered successful?
hero member
Activity: 672
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legendary
Activity: 2324
Merit: 1125
However, by that measure bitcoin has already achieved success. The bitcoin network currently mediates between 50 and 60 thousand transactions every day, transferring an estimated 70 million USD every day.
As far as bootstrapped nascent currency experiments go, bitcoin should certainly fulfill many criteria for "success" already.
Curioulsy the number of transactions per day and their total BTC volume have increased very little, or not at all, since September last year.  So, either commercial e-payments  are a small fraction of those numbers, or they are not increasing (and their USD volume is actually decreasing, since the BTC price has fallen considerably in that period).

The number of transactions increases in waves similar to the price function.  Also many transactions are now being done off the blockchain. I use coinbase app on my phone and when I go to the bar in my area they use coinbase merchant.  That transaction is never shown on the blockchain.

Plus the price has not decreased since September.

Jorge, maybe check out this thread regarding transactions and distribution off balances correlated to price (the creation of zero balances implies transactions and spending). https://bitcointalksearch.org/topic/18-mar-data-a-bitcoin-price-theory-441336
legendary
Activity: 2324
Merit: 1125
However, by that measure bitcoin has already achieved success. The bitcoin network currently mediates between 50 and 60 thousand transactions every day, transferring an estimated 70 million USD every day.
As far as bootstrapped nascent currency experiments go, bitcoin should certainly fulfill many criteria for "success" already.
Curioulsy the number of transactions per day and their total BTC volume have increased very little, or not at all, since September last year.  So, either commercial e-payments  are a small fraction of those numbers, or they are not increasing (and their USD volume is actually decreasing, since the BTC price has fallen considerably in that period).

The number of transactions increases in waves similar to the price function.  Also many transactions are now being done off the blockchain. I use coinbase app on my phone and when I go to the bar in my area they use coinbase merchant.  That transaction is never shown on the blockchain.

Plus the price has not decreased since September.
legendary
Activity: 2380
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 280
Merit: 250
However, by that measure bitcoin has already achieved success. The bitcoin network currently mediates between 50 and 60 thousand transactions every day, transferring an estimated 70 million USD every day.
As far as bootstrapped nascent currency experiments go, bitcoin should certainly fulfill many criteria for "success" already.
Curioulsy the number of transactions per day and their total BTC volume have increased very little, or not at all, since September last year.  So, either commercial e-payments  are a small fraction of those numbers, or they are not increasing (and their USD volume is actually decreasing, since the BTC price has fallen considerably in that period).

The number of transactions increases in waves similar to the price function.  Also many transactions are now being done off the blockchain. I use coinbase app on my phone and when I go to the bar in my area they use coinbase merchant.  That transaction is never shown on the blockchain.
hero member
Activity: 910
Merit: 1003
However, by that measure bitcoin has already achieved success. The bitcoin network currently mediates between 50 and 60 thousand transactions every day, transferring an estimated 70 million USD every day.
As far as bootstrapped nascent currency experiments go, bitcoin should certainly fulfill many criteria for "success" already.
Curioulsy the number of transactions per day and their total BTC volume have increased very little, or not at all, since September last year.  So, either commercial e-payments  are a small fraction of those numbers, or they are not increasing (and their USD volume is actually decreasing, since the BTC price has fallen considerably in that period).
sr. member
Activity: 644
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Its so nice to be in a bull market. You can sleep and don't care and still make magical internet money !
hero member
Activity: 910
Merit: 1003
I just wrote:

The sleeping and eating patterns of the Chinese are relevant to understanding what will happen to the price, [ ... ]  Not as enlightening as dinosaurs, but infinitely more than any TA.

Then Huobi did this:



But @magicmexican had already posted this:



I rest my case.  Cheesy
full member
Activity: 154
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BTC = FREEDOM IS OUR ONLY HOPE!
legendary
Activity: 2324
Merit: 1125
The reason that BTC is so cheap and progresses so slowly is that people are only exponentially "getting it".
Well, from December to April, especially from February, the Chinese were exponentially "un-getting it"; and that was swamping any growth outside China.  (They may have started "getting it" again now, we'll see...)


This post alone clearly shows you don't get it at all Wink
member
Activity: 75
Merit: 10
what are the differences between gamble, venture investment and normal investment?

I DO think buying bitcoin was a gamble at the beginning stage,  but as  adoption is expanding with its innovative technology, I tend to upgrade from gamble to venture investment.

Will such venture investment succeed? Indeed I feel like something similar as odd gambling. Still I feel some differences there, but can not tell. Anyone gives more explanation?
hero member
Activity: 910
Merit: 1003
The reason that BTC is so cheap and progresses so slowly is that people are only exponentially "getting it".
Well, from December to April, especially from February, the Chinese were exponentially "un-getting it"; and that was swamping any growth outside China.  (They may have started "getting it" again now, we'll see...)
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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