Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28177. (Read 26710599 times)

243 BTC order at $510 just filled...that's nice too

quick, somebody get proudhon so he can confirm this breakout for us!

buy support is also mounting above 500 levels at Stamp...can finally feel a shift of sentiment in the air.   Was getting tired of all the negativity around here! 

wow, so bullish order book on huobi. and so much buying power, even in night they pump it with close to 0 volume.

Explanation

Prepare for liftoff?

True, but Bitcoin lacks the critical component of a ponzi scheme: deceit. Ponzi victims are intentionally mislead as the the source of their dividends and or profits. Bitcoin is radically transparent. Open Source. Public bockchain.

We are betting on expected future utility value, not future speculative value.

again this bot on btce:)

Bla bla fucking bla. Troll this troll that.

The fuck are we giving them credits for? Lets just, ignore, continue and pretend not a single fuck is given. Which, actually is not.

In the meantime it's almost midnight here and we have a $500+ on bitstamp. Hell yea.

China already broke their downtrend... maybe its why they are so bullish:

From my point of view, chinese have dried the supply.

We should break both trendline sooner than later. I was expecting at least a bounce but it shouldn t occur. I f they succed to break also the second trendline ( the log one ) we should see a violent move upward as it will be a very strong signal for the bulls waiting in fiat on the sideline.

That is because we take it as a propriety. Bitcoin is a currency. So no cash out in fiat and just use it to pay for beer. No ponzi scheme if we use it for what it was meant.
Well bitcoin is just a child, so i agree as early investors we will drink a lot of beer.

I also cancel my short trade and issue a buyback at $4 loss.

BTW.

We have run out of sellers and buyers, but these Chinese keep on knocking at the top's door, even in their sleep.

If bitcoin is a ponzi scheme then the US dollar is too.
The US dollar has nothing much to back it's value. It's 100% marketing and people invested in US dollars want more people in to uphold it's value.

That describes stocks, classic cars, art, baseball cards, or anything collectible.

I doubt it will break 3220 ish...could be wrong.

i'm still holding (for now) but soon to become a bear again

That the (then-current) powers that be try to stifle innovation is as old as the Earth. And yes, sometimes they succeed. Name one.


If any country was truly independent, it would have adopted Bitcoin already, mainly because of the fact that it would make them insanely rich. It is like if Norway was asked, "do you want to have all this oil for free, we can give it to Scotland also?" Of course they take it.


If you quote prices and wages in something, no matter what, they are stable in that. (Duh.)

USD or anything else does not have price stability either - it can fluctuate against other fiat currencies, gold, commodities, real estate, goods - tens of % per year. In the long term, gold has better served as a provider of price stability. During the gold standard, this was natural (see the comment with "Duh"), but even afterwards, prices denominated in gold have fluctuated less than prices in USD. This is mainly because of the persistent inflation of USD, of course, but that is the only way to keep a fiat system inflated due to the requirement to pay interest to 100% of the money base.

As long as Bitcoin grows, it will have a high volatility. When it matures and becomes a global quote currency, the volatility against other things settles to a level at most comparable to today's USD.

(Adam Smith's / Antal Fekete's) Real Bills are a vehicle that can accommodate the need of self-liquidating credit in an economy.


There is mainly one global enemy to the sovereignty of countries, and you are likely employed by that. Of course the country has to realize the prospect of economic warfare, but really everything is better than the current fiat slavery. I would probably use a currency basket method in internal contracts (employment contract wage BTC0.01 + $5 per hour) and many other things. It is quite novel, and therefore interesting.


Sweet talk does not cover the fact that the record of post-1971 USD as a "stable currency" is abysmal and horrific; it has utterly destroyed the nation that in the 1960s was the powerhouse of the world, and now is a shell, producing nothing, and living off of sucking dry the rest of the world. The inhabitants of the USA are impoverished by innumerable means and are now totally indebted by the booms and busts made possible by this irredeemable "stable" dollar. I could go on but let's leave it here.


Why would I ever need to convert it to fiat? Owner of Localbitcoins never has more than $100, all his business and personal finances have been in bitcoins for years. My business is ill-suited for your experiment because I trade between fiat-BTC-gold-silver. But one of my companies seem to never have converted its income to fiat nor used it. (Link in sig)


I give you the benefit of doubt that you meant it sincerely. Nevertheless, you are wrong. I mean, I see that we are moving to the direction that makes it possible in the coming years, and technology always wins.

Ok, now I have to be that guy.

Actually bitcoin does have at least two qualities of a ponzi scheme:
1. Early investors who gradually change back to fiat are basically earning money off the last round of investors.
2. Investors heavily advertise it because they know that the more new investors join, the more they gain.

I am not denying the absolutely awesome technological wonder that bitcoin is, and the fact that I can use it to move money across countries in a breeze (operation otherwise made unnecessarily painful by the sucking bastard governments and banks involved)
Still let's admit that we are in the speculation forum watching markets because we hope to get rich, and bitcoin keeps us hooked because of 1. and 2. above.