Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29012. (Read 26609666 times)

They're evading capital control by moving wealth out of the country. Why, as you suggest, would they be holding bitcoin at the endpoint?

And you really believe that bitcoin is the best legal loophole in China to evade capital controls? Or even just a good way? Or that bitcoin is the most secure way to hedge against inflation? That a business owner actually buys bitcoins while saying "ha! now my wealth is safe in this stable and secure currency!".

Srsly?

Oh, I guess the avatar misled

The killer app for Bitcoin in China is that it is a loophole to evade capital controls. This hasn't changed. As theit national currency has devalued against the dollar and is likely to continue to do so, an inflation hedge is a secondary use. The gambling aspect just creates noise to obscure the underlying demand.

But that would mean getting the horse out of the stable, riding it down to the library and searching through through the card index to determine which vellum covered tome to consult to find the definition. And he doesn't even have any quills sharpened to take notes.

Yesterday's pennant is starting to go limp.... 

^what she says. Do it.

http://finance.yahoo.com/blogs/breakout/bitcoin-could-be-manipulated-and-that-s-ok-165845510.html


No way is that happening. Just no way. Not my precious bitcoins.

lol

Bitcoin Bank Flexcoin to Close After $600,000 Bitcoin Theft http://ino.to/1hGPtTv

It was game over for bitcoin in China when it was announced that there is no future for legal business supported by bitcoin. It ment that no serious investors who want to keep solid relations with the government won't touch bitcoin. The market that is left is basically walking on a thin line, only waiting for getting shut down and possibly prosecuted. Only thing that created the long dead cat bounce was denial, desperation and stupidity. If you have been looking at the charts then you know that overall demand has constantly been dropping, with only thing holding the price up is that there aren't many people who are willing to sell cheap. But this in turn is causing a decrease in volume and only way to stimulate the market is lowering the price little by litle...this will reach a critical point when the "will of the hodlers" will break and there will be a nice fall.
Anyway, I'm not arguing about this anymore, I have found that sarcasm is more suitable for this place. I'm tired of the "line drawers" calling for new and new bottoms for these past 2 months. You do whatever you wish and believe whatever you believe.

So here my prediction. We are seeing 800$ in 5 to 7 days I just saw that the 600$ got beaten after a quick rise, assuming that around 600$ was no resistence. After the correction the resistence built up and it was hard to jump over that 600$ again. After passing it, it rose to 700 quickly again, so around 700 was no resistence. After the correction we're facing the same problem.

-> I like such prediction, and they seem to be popular here 

Maybe in your country, but in Europe, most of the lottery business are state exclusivity, a tax on dream...
So should we put all gov's in jail ?

Governance is more than useful. It's absolutely necessary, but that doesn't mean a monopoly provider of governance is necessary or more useful than the alternatives. Democracy can only reduce the tyrannical aspects of governance to the degree that it reduces its effectiveness overall, and it's not even very good at doing that. Democracy is the dominance of the minority by the majority by definition.

Time to arrest everyone in the United States except for the 6 states which do not have a lottery.

Someone please photoshop this in front of Risto's mansion...

Double kudos if you get the pink Rolls Royce in also.

I have stated my position several times, but for those who did not see it:

* Cryptocoins are a great invention, and I wish that they succeed in their original goal -- a method of payment through the internet, especially across national borders, that is safe, cheap, convenient, fast, etc.  I wish that, and I would love to use them if and when I think that they are better for me than credit cards or other existing means.  I wish that, but I do not think that the chances are good. (One shoudl never confuse "desire" with "expectation".)

* I am not a libertarian. I believe that governments are useful and necessary, and we should fight to democratize and improve them rather than abolish them. I see the libertarians' idea of getting rid of governments as sheer lunacy. (For one thing, if you don't have your own strong democratic government, other people will gladly and forcibly lend you theirs.)  And I see their hope that bitcoin will let them build their utopia outside the reach of governments as lunacy squared.

* Adults have the right to do whatever they want with their money (within limits of law and ethics, of course), including investing it in whatever they like, gambling it, or even throwing it away. 

* In particular, I do not care care if someone buys a lottery ticket when he is fully aware of the odds, or trades it with some fellow gambler who is equally aware of them. 

* However, if I see someone buying a lottery ticket because he thinks it is a good investment, I feel this Darwinian duty (magnified by professional habit) to inform that fellow primate about the odds, expected value, and all that.  If the guy does not believe me, then, shrug,  that is his problem.  And, of course, I consider myself excused of that duty if  I think that the guy may steal my bananas, or if he snarled some unfriendly noises at me.

* Finally, when someone tries to convince others to buy lottery tickets, by telling them that it is a good investment, when his motive is actually to make a profit out of their "investment" -- then that guy is a scammer, and should go to jail.

What a great day for Bitcoin !

China didn't have anything to do with the downtrend in February, and there is no reason to suppose demand in China is decreasing. The biggest issue with China recently was the uncertainty of what would happen on January 31st (which amounted to nothing); and all we did in January was fluctuate around $800 while worrying about the possibility of something on the 31st. February's downtrend was caused by uncertainty in mtgox and other exchanges, lies about the extent of transaction malleability, some finally mtgox's insolvency. Those issues have mostly been resolved at this point. I wouldn't wait for cheap (sub 600) coins anymore at this point. I think the downtrend is over, unless we get more seriously bad news, which is never unlikely in the bitcoin world.

Bitstamp offering special trading services to VIP members?

To Jorge: There is nothing to sustain its value, except that people prefer to own it. This is perfect. No relation to the real world. Pure money.

There is a timestamp in each block, but it is not needed for the transactions or for the function of the blockchain, except to regulate the mining difficulty. A cheap and incontrovertible piece of data.