Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28386. (Read 26608588 times)

Would someone please explain how one becomes a paid troll? Perhaps I can bill them for a hundred bucks (old-fashioned money, of course) for every insult I get here. 

I feel like the posts are pretty balanced atm too.

good point. I shouldn't hang around here, I need to become that guy that makes bitcoin practical for the unbanked masses.

When 2nd mkt or the twinkyfloii float an ETN, the first really fat channel for fiat inflows will open up.  Q4 at the earliest.  If there were a long bear, I suspect the next bubble would be a superbubble, in the dec14 - mar15 period, roughly 100x bottom to top.
 

I'm more of an "It's always darkest before it goes pitch black" kind of guy. I have many times more coins in cold storage so I'm using my trading account as a hedge right now. Worse thing that can happen to me is that I'm stuck with tens of thousands in fiat while my main stash rockets up in value. I think I can live with that. Locking in profit on coins I bought in two digits may be a fear move, but it's the smart play. How many people with much much more BTC than me have to do the same thing for price to crater? Not Many.

If bitcoin is banned (again, an hypothetical scenario -- I don't think it will be), BitPay will close.  You will not be able to use bitcoin to pay for purchases on internet stores lke Amazon and Overstock.  You will not be able to pay for hotels, travel or entertainment,.  You will not be able to use bitcoins to buy newspaper, coffe, groceries, pay the rent.  You may be lucky to find a plumber or real estate agent that accepts bitcoin, but it will be risky (IRS etc.) Your salary will be in old money and you will not have any legal way to convert it to bitcoin.  If you pay for something in advance with bicoin, and the other side does not deliver, you cannot complain to the police.  And so on.

So, what would you use your bitcoins for? 


Although many people (myself included) are unhappy about the government they have, the vast majority actually wants a strong government with effective laws,  police and courts -- because they know what happens when those things fail.


Er, which premises are absurd?

You are being very unrealistic if you are of the belief that getting rid of speculators is helpful to BTC... In the end, the speculators are likely to make or break BTC... Speculators are likely needed in order to drive incentives to build infrastructure and to get other people interested - expanding the user base.

You only have fear when you are close to the very bottom. Those who feel euphoria or fear always lose, because they buy near the top and sell near the bottom.

Just buy when this forum is bloated by FUD-spreader trolls, and sell when the thread is completely bloated by train pictures.

For the record: I'm buying myself, going in the $300 range is possible in my book, but no way we are going below $266. Given the fact that I bought most of my bitcoins in the $10 to $20 range, buying a little more at $450 or $370 is not really affecting much my average buy-in price. In fact I'm just buying back aprox. the same amount of bitcoins I sold in the $700 to $900 range, which is just the course of action I had in mi mind when I sold.

If we go below $266 (VERY unlikely) I'd expect a long, multi-month bear market, but I'm betting on it NOT happening.

EDITED (some grammar + additions)

Well said..
I also agree that it would have been healthier for the development environment of bitcoin to have a year long resting period. I'm afraid that this isn't possible any more since the competition will also keep pushing. The word is out that it could be possible to offer monetary services separate from global banking. There are smart and powerful people and organizations developing their own variants, that won't be made public before they are considered perfect.
I personally think that the main thing that needs development is the coin supply. Fixed coin supply with increasing deflation makes the currency too attractive for speculative play. As long as there are good opportunities for speculative play, then there won't ever be price stability, and that is the main thing that creates a quality currency.

Not enough of either to create much volatility.  I see more fear on the naz, the nikkei.

Do you honestly think there is more greed than fear in this market right now?

Why? ... because technology magnifies our productivity by many orders of magnetude. We how have the power to catch all the fish, cut down all the trees, and mine all fossil fuel in my lifetime.

This technological productivity gain is being invested in more growth, (more not better) we need our economy to respond to the simply economic rule of supply and demand.

We have inherently a demand for sustained existence, and a mix of finite and renewable resources. (This is ineffectively managed by central control)

The work of the TPTB managing our economy ensures income inequality (through inflation) and environmental destruction (through growth). While discouraging disruptive innovation to preserve the Status Quo.

While we all need to be motivated to contribute to our economic success, it is not an equal analysis to compare the fruits of human labour (real money) to the risk taken by a miner investing in an ASIC to create a digital money substitute that is governed by immutable rules independent of the central control system we have today. When "real money" has been substituted for the equivalent of the shells you consider impractical as money.

Using Bitcoin is by it's nature an experiment in restoring the free market system, it is disruptive and ugly but it is working.

Billyjoeallen bear is not as funny as the bull one...

Serious question.  Are you talking about the order books with 19,900 BTC?  That would NOT be a reflection of how many BTC are on Bitstamp, or how many could be transferred over quickly, if needed.  Surely, Bitstamp does NOT seem to be getting the kind of volume of GOX... but is this really a meaningful or even accurate statistic to make your point?

I didn't realize you were a muslim.  Although, I think zakat is intended for the poor, not for the mullah.

This is true, first person to panic buy wins as well cause you get more coins for your mullah!

Ok, i going sleep.
Hope to see  bitcoin  at 250 Dollar when i awake.
And you HODL!

The first person to panic wins if you get to buy back in lower.

I agree with you more or less with these kinds of numbers.  B/c increasing the market cap does NOT depend upon the total value of the market cap needing to be pumped into the BTC system.... and probably does NOT even need potential BTC buyers to understand the consequences of their actions.  All it needs are people who are willing to pay $6,000 per BTC ... and that is only $6 per mBTC.... remarketing from BTC to mBTC can help alot.. at some point b/c investors may perceive mBTC to be $6 b/c they can buy $6 worth of goods and/or services for 1mBTC.



I think that we need more information for this hypothetical.... especially concerning time-line for the increase.  If the price were to go up really quickly, we may get a lot more sellers than you expect.  It is NOT b/c they do NOT believe in BTC, but they will believe that they could trade to increase their BTC stash.. Ultimately, my point is that there is likely quite a few more BTC for sale up until $10k... and variation depending on how we get there.

I thought that after so many months into bitcoin you would have learnt something about the markets: price is driven by price action. That's why when BTC goes up for a while the growth becomes exponential (and more so when ATH is broken), and also why the lower it goes the bigger are the dumps.

People is emotional, and the amount of euphoria during a mania phase is directly proportional to the level of fear just before the capitulation.