Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27936.

soullyG

hero member

Activity: 1011

Merit: 721

Decentralize everything

Quote from: spooderman on April 29, 2014, 05:32:59 AM

Quote from: TERA on April 29, 2014, 04:48:02 AM

Bitcoin is banned by the federal government and if you are caught owning bitcoin, you pay a fine of 2,500 per coin.

So knowledge of a private key becomes illegal.

Memory crime.

I feel like we've been through this before..

Quote

09 F9 11 02 9D 74 E3 5B D8 41 56 C5 63 56 88 C0

spooderman

legendary

Activity: 1680

Merit: 1045

Quote from: TERA on April 29, 2014, 04:48:02 AM

Quote from: freebit13 on April 29, 2014, 04:37:29 AM

Quote from: rpietila on April 29, 2014, 04:30:50 AM

Quote from: TERA on April 29, 2014, 04:25:51 AM

Quote from: freebit13 on April 29, 2014, 04:24:00 AM

My break-even price is $0, so I'm gonna be around here for a while Wink

My break even price is -($2500)

Congrats. Mine is only -(low 3 figures).

I figured $0 is end-game for everyone, so didn't bother with negative values... it would be an interesting time when you'd actually be paying people to take bitcoin from you... I'd imagine it to be highly illegal (probably banned 500 times by China by then)

Bitcoin is banned by the federal government and if you are caught owning bitcoin, you pay a fine of 2,500 per coin.

So knowledge of a private key becomes illegal.

Memory crime.

JayJuanGee

legendary

Activity: 3934

Merit: 11405

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

Quote from: billyjoeallen on April 29, 2014, 04:46:08 AM

Quote from: JayJuanGee on April 29, 2014, 02:45:27 AM

Quote from: billyjoeallen on April 28, 2014, 11:23:01 PM

Quote from: JayJuanGee on April 28, 2014, 10:15:45 PM

I don't claim to be an expert in any of these various economic theories, but there seems to be some sense in what BJA is saying - apart from his having to feel some kind of irresistible urge to dish out insults regarding the competency and/or intelligence of regular people.

I do believe that the status quo wealthy will put up quite a bit of a battle in any redistribution of wealth attempts in order that redistribution of wealth is only minimum..

In other words the status quo wealthy use any tools at their disposal by hook or by crook to ensure that redistribution of wealth does NOT leave them hanging high and dry. They may NOT be too successful with bitcoin b/c the train may leave some of them, but they are going to put up several obstacles along the way and secretly board at later stops.

I think it is quite possible bordering on probable that I am one of the incompetents I am referring to. It's not intended as an insult. It's just part of the theory.

Part of my issue, though, in your framing in competence and/or intelligence is that it seems to assume too much about the wealthy being competent or smart. Just b/c someone has a lot of power and/or resources at his/her disposal and wants to engage in a large variety of strategies to maintain the status quo and to preserve that wealth and those resources does NOT mean that the person is smarter or more competent.. even though the one with the resources and wealth may win (in spite of not being smarter or more competent).

It's not an issue of intelligence. It's an issue of knowledge. Wise management of capital is a specialized skill and not all wealthy people qualify. Austrian economists make a careful distinction between those who actually create wealth and those who acquire it through other means. We place a greater importance on the difference between makers and takers than on the difference between rich and poor. To us, the lowliest laborer makes a more valuable contribution to the economy than the greatest redistributionist. We may even oppose the status quo more than you do, but we see the political class as the greatest impediment to efficient markets.

I agree with a lot of your points in this above post - except I do NOT really understand your framework to describe yourself as a part of the Austrian economist "we."

You and I have engaged in discussions of several topics, and even through these limited experiences of mine, I have many doubts that your various intellectual positions are so circumscribed and/or disciplined as to fit within any particular school of thought, beyond the BJA for the day school of thought. I could be wrong, but that is just my assessment. Wink

Regarding your above implication of my stance on the status quo, I am neither for the status quo nor against it; however, I consider the status quo as a starting point in which anyone arguing opposition to such has the burden of proof and persuasion to establish why such departure from the status quo is the more prudent course of action and to outline a specific path(s) to guide us in our new direction away from the status quo.

dreamspark

hero member

Activity: 798

Merit: 1000

Me neither. Ban away.

jl2012

legendary

Activity: 1792

Merit: 1111

Quote from: TERA on April 29, 2014, 04:48:02 AM

Quote from: freebit13 on April 29, 2014, 04:37:29 AM

Quote from: rpietila on April 29, 2014, 04:30:50 AM

Quote from: TERA on April 29, 2014, 04:25:51 AM

Quote from: freebit13 on April 29, 2014, 04:24:00 AM

My break-even price is $0, so I'm gonna be around here for a while Wink

My break even price is -($2500)

Congrats. Mine is only -(low 3 figures).

I figured $0 is end-game for everyone, so didn't bother with negative values... it would be an interesting time when you'd actually be paying people to take bitcoin from you... I'd imagine it to be highly illegal (probably banned 500 times by China by then)

Bitcoin is banned by the federal government and if you are caught owning bitcoin, you pay a fine of 2,500 per coin.

The (US) federal gov has nothing to do for me

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

freebit13

hero member

Activity: 616

Merit: 500

I got Satoshi's avatar!

Quote from: TERA on April 29, 2014, 04:48:02 AM

Bitcoin is banned by the federal government and if you are caught owning bitcoin, you pay a fine of 2,500 per coin.

Bitcoin as a schedule 1 currency... lol... I suppose it is quite addictive Wink

TERA

hero member

Activity: 728

Merit: 500

Quote from: freebit13 on April 29, 2014, 04:37:29 AM

Quote from: rpietila on April 29, 2014, 04:30:50 AM

Quote from: TERA on April 29, 2014, 04:25:51 AM

Quote from: freebit13 on April 29, 2014, 04:24:00 AM

My break-even price is $0, so I'm gonna be around here for a while Wink

My break even price is -($2500)

Congrats. Mine is only -(low 3 figures).

I figured $0 is end-game for everyone, so didn't bother with negative values... it would be an interesting time when you'd actually be paying people to take bitcoin from you... I'd imagine it to be highly illegal (probably banned 500 times by China by then)

Bitcoin is banned by the federal government and if you are caught owning bitcoin, you pay a fine of 2,500 per coin.

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: JayJuanGee on April 29, 2014, 02:45:27 AM

Quote from: billyjoeallen on April 28, 2014, 11:23:01 PM

Quote from: JayJuanGee on April 28, 2014, 10:15:45 PM

I don't claim to be an expert in any of these various economic theories, but there seems to be some sense in what BJA is saying - apart from his having to feel some kind of irresistible urge to dish out insults regarding the competency and/or intelligence of regular people.

I do believe that the status quo wealthy will put up quite a bit of a battle in any redistribution of wealth attempts in order that redistribution of wealth is only minimum..

In other words the status quo wealthy use any tools at their disposal by hook or by crook to ensure that redistribution of wealth does NOT leave them hanging high and dry. They may NOT be too successful with bitcoin b/c the train may leave some of them, but they are going to put up several obstacles along the way and secretly board at later stops.

I think it is quite possible bordering on probable that I am one of the incompetents I am referring to. It's not intended as an insult. It's just part of the theory.

Part of my issue, though, in your framing in competence and/or intelligence is that it seems to assume too much about the wealthy being competent or smart. Just b/c someone has a lot of power and/or resources at his/her disposal and wants to engage in a large variety of strategies to maintain the status quo and to preserve that wealth and those resources does NOT mean that the person is smarter or more competent.. even though the one with the resources and wealth may win (in spite of not being smarter or more competent).

It's not an issue of intelligence. It's an issue of knowledge. Wise management of capital is a specialized skill and not all wealthy people qualify. Austrian economists make a careful distinction between those who actually create wealth and those who acquire it through other means. We place a greater importance on the difference between makers and takers than on the difference between rich and poor. To us, the lowliest laborer makes a more valuable contribution to the economy than the greatest redistributionist. We may even oppose the status quo more than you do, but we see the political class as the greatest impediment to efficient markets.

freebit13

hero member

Activity: 616

Merit: 500

I got Satoshi's avatar!

Quote from: rpietila on April 29, 2014, 04:30:50 AM

Quote from: TERA on April 29, 2014, 04:25:51 AM

Quote from: freebit13 on April 29, 2014, 04:24:00 AM

My break-even price is $0, so I'm gonna be around here for a while Wink

My break even price is -($2500)

Congrats. Mine is only -(low 3 figures).

I figured $0 is end-game for everyone, so didn't bother with negative values... it would be an interesting time when you'd actually be paying people to take bitcoin from you... I'd imagine it to be highly illegal (probably banned 500 times by China by then)

TERA

hero member

Activity: 728

Merit: 500

Quote from: rpietila on April 29, 2014, 04:30:50 AM

Quote from: TERA on April 29, 2014, 04:25:51 AM

Quote from: freebit13 on April 29, 2014, 04:24:00 AM

My break-even price is $0, so I'm gonna be around here for a while Wink

My break even price is -($2500)

Congrats. Mine is only -(low 3 figures).

I am currently only 20% btc though. If I went 100% btc (like you probably are), it would be 3 figures also. It's kind of a misleading number because I could be 2% btc and have 5 figures, etc.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: TERA on April 29, 2014, 04:25:51 AM

Quote from: freebit13 on April 29, 2014, 04:24:00 AM

My break-even price is $0, so I'm gonna be around here for a while Wink

My break even price is -($2500)

Congrats. Mine is only -(low 3 figures).

Davyd05

hero member

Activity: 574

Merit: 500

Quote from: windjc on April 29, 2014, 04:26:41 AM

Some serious indecision on Houbi. I would guess its from three factors.

Money trying to get off exchanges.
Fresh money wanting to buy bitcoin "cheap" to try and usher in a new future after these exchanges get cut off (see Chinese gaming company that bought 40k)
Delusional traders who don't realize money is leaving exchanges and the exchange can't really rally past a certain point anymore and non-delusional traders who are trying to catch the ups and downs as the trend continues.

Note: this is all 100% speculation on my part.

China is a proper way for the market to experience despair, and even more so to many traders that value China's buying pressure so highly. Let North America or Europe foster the next wave of buying pressure...China has too many problems to worry about with all them usd tbills

Edit: grammar, structure + Huobi seems to be bouncing of fibs on the 1 day charts

windjc

legendary

Activity: 2156

Merit: 1070

Some serious indecision on Houbi. I would guess its from three factors.

Money trying to get off exchanges.
Fresh money wanting to buy bitcoin "cheap" to try and usher in a new future after these exchanges get cut off (see Chinese gaming company that bought 40k)
Delusional traders who don't realize money is leaving exchanges and the exchange can't really rally past a certain point anymore and non-delusional traders who are trying to catch the ups and downs as the trend continues.

Note: this is all 100% speculation on my part.

TERA

hero member

Activity: 728

Merit: 500

Quote from: freebit13 on April 29, 2014, 04:24:00 AM

Quote from: joburgtaxi on April 29, 2014, 04:13:09 AM

Oh man I am feeling so disillusioned with BTC at the moment just seems to be going one way and never comes back to the last consolidation/support level. Waiting for my break even price (if it ever comes) then I am outta here!!!

My break-even price is $0, so I'm gonna be around here for a while Wink

My break even price is -($2500)

joburgtaxi

full member

Activity: 263

Merit: 101

Quote from: TERA on April 29, 2014, 04:22:43 AM

Quote from: joburgtaxi on April 29, 2014, 04:13:09 AM

Oh man I am feeling so disillusioned with BTC at the moment just seems to be going one way and never comes back to the last consolidation/support level. Waiting for my break even price (if it ever comes) then I am outta here!!!

You are using a self defeating strategy that is impossible to win with.
1. If the downtrend continues, it will never reach your break even point while the downtrend is in force and you will hold on to a losing position indefinitely.
2. If your break even point is reached, that will mean that the downtrend has broken and it will be an uptrend, meaning it will be a terrible time to sell.

The only good moves are:
a. Commit to your position as a long term holding.
b. Sell now or at some point along the downtrend ceiling, taking a small loss. Then buy back later if/when the trend is confirmed to be reversed.

Thanks for the pick me up, I know what you are saying makes sense however my break even point ($575) seems so far away and just getting further everyday, in retrospect was a really stupid place to buy at but what is done is done.

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: JayJuanGee on April 29, 2014, 02:45:27 AM

Quote from: billyjoeallen on April 28, 2014, 11:23:01 PM

Quote from: JayJuanGee on April 28, 2014, 10:15:45 PM

I don't claim to be an expert in any of these various economic theories, but there seems to be some sense in what BJA is saying - apart from his having to feel some kind of irresistible urge to dish out insults regarding the competency and/or intelligence of regular people.

I do believe that the status quo wealthy will put up quite a bit of a battle in any redistribution of wealth attempts in order that redistribution of wealth is only minimum..

In other words the status quo wealthy use any tools at their disposal by hook or by crook to ensure that redistribution of wealth does NOT leave them hanging high and dry. They may NOT be too successful with bitcoin b/c the train may leave some of them, but they are going to put up several obstacles along the way and secretly board at later stops.

I think it is quite possible bordering on probable that I am one of the incompetents I am referring to. It's not intended as an insult. It's just part of the theory.

Part of my issue, though, in your framing in competence and/or intelligence is that it seems to assume too much about the wealthy being competent or smart. Just b/c someone has a lot of power and/or resources at his/her disposal and wants to engage in a large variety of strategies to maintain the status quo and to preserve that wealth and those resources does NOT mean that the person is smarter or more competent.. even though the one with the resources and wealth may win (in spite of not being smarter or more competent).

freebit13

hero member

Activity: 616

Merit: 500

I got Satoshi's avatar!

Quote from: joburgtaxi on April 29, 2014, 04:13:09 AM

Oh man I am feeling so disillusioned with BTC at the moment just seems to be going one way and never comes back to the last consolidation/support level. Waiting for my break even price (if it ever comes) then I am outta here!!!

My break-even price is $0, so I'm gonna be around here for a while Wink

TERA

hero member

Activity: 728

Merit: 500

Quote from: joburgtaxi on April 29, 2014, 04:13:09 AM

Oh man I am feeling so disillusioned with BTC at the moment just seems to be going one way and never comes back to the last consolidation/support level. Waiting for my break even price (if it ever comes) then I am outta here!!!

You are using a self defeating strategy that is impossible to win with.
1. If the downtrend continues, it will never reach your break even point while the downtrend is in force and you will hold on to a losing position indefinitely.
2. If your break even point is reached, that will mean that the downtrend has broken and it will be an uptrend, meaning it will be a terrible time to sell.

The only good moves are:
a. Commit to your position as a long term holding.
b. Sell now or at some point along the downtrend ceiling, taking a small loss. Then buy back later if/when the trend is confirmed to be reversed.

edwardspitz

sr. member

Activity: 546

Merit: 250

Quote from: TeeBone on April 29, 2014, 03:40:10 AM

how do you guys pronounce Huobi ?

I will call it FIRE COIN from now on.... They drop it like it's hot Grin

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27936. (Read 26634305 times)