Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29592. (Read 26712670 times)

In capitulation, heading to despair. All of which will become just another part of the next take-off phase.

The first great use-case for bitcoin, which will drive value for the next couple of years, is international remittances.
The mass of adopters for remittances consists of immigrants.  I am in New York City about half of the time, and always
ask every taxi driver if they have ever heard of bitcoin.  These people are from Bangladesh, Pakistan, Ghana, Senegal, etc.
Never, not once, has a taxi driver known what a bitcoin was, or even how to spell it with confidence.  (Although,
I suspect a few of them may one day send their children to Harvard with bitcoin bought since I met them.)

We are way, way short of take-off.  We are in stealth mode.

Regarding having Fiat in reserve, Are you saying that you have invested most of your liquid assets in BTC?    

I know that there are some people  who have put their life savings into bitcoin... but surely a risky strategy...


Personally, almost all of my liquid assets are in various forms of fiat....  save a relatively small percentage in BTC.

I am investing in BTC b/c I want to diversify some of my assets out of fiat (namely away from the dollar).

I am fairly bullish on BTC, but I only started investing in November 2013..., and I have been dollar cost averaging my BTC investment through the last 2.5 months attempting to buy more BTC during the dips and only investing a small percentage of my total investment portfolio into BTC - so even though my initial BTCs were bought at around $1,200, my average BTC buy price is currently at about $744.  

Currently, I am holding... hoping to buy more BTC on Coinbase below $560.. if such a BTC price dip were to occur... and doing a tiny bit of trading on BTC-e (but I am NOT very good at timing daytrades.  Therefore, I don't attempt too many big or risky trades - unless there seems to be some clear signal of the BTC price direction - which seems rare).  

Nonetheless, my current prediction is that BTC is going to be in turmoil for the next couple of weeks waiting for more clear news from Gox - which Gox is likely to straggle along for another several months... and may be able to re-brand itself... possibly, like Silkroad 2 is attempting to do with its recent press release...     I agree Gox seems to be a drag on the current bitcoin prices and causing uncertainty about the future of BTC...  I do think that a transparent statement, such as the one provided by Silkroad 2, and a kind of outline of a forward plan.. that sounds reasonable, could help Gox to stay alive.    


Yet, the Gox situation may cause developments for investors / customers to receive assurances that exchanges or similar enties are NOT going to run away with their bitcoins...

... so, last week then? 

Goldman sachs(coinbase) and second market are the instituional investors. 40% of all americans know bitcoin. PLus there are huge similarities with the actual chart, check 3d. so do the math, and put your buy orders below 200$   

Can we invite the designer of the bubble graph into the forum? That would be awesome, so that everybody could ask him about his opinion.

The last time I heard this was in the playground.

Bitcoin is fast, but not so fast that a valid c&h can form intraday.  The structural/mechanical models that create the predictive power of a c&h pattern simply can't be present on that time scale.  Not without unphysical volumes, at least.

Most importantly, Where are we currently at on that chart?   the beginning, middle or end?  Maybe we are still in the early stages of the awareness stage?  Lots of people do NOT know what the fuck is bitcoin.

I would imagine that would be a difficult and distressing job at times but rewarding.

Oh, interesting! Explain me then, what is the true value of bitcoin.

The technology of what? Cryptography? Python? Personal computers? The Internet?
Bitcoin source code doesn't bring anything new to the table, it only combines existing technologies in one innovative idea. So, there is no complex "technology" in bitcoin to be valued, the idea is what is valuable and the idea can be made better by others with their own innovations.

Services like Bitpay will only maximize it's utility with using it as an intermediate payment tool to compete with credit card companies. Currently using bitcoin is more expensive, time consuming and difficult then using a credit cards. Right now it's a gimmick even in this intermediate payment field. It only could be more then a gimmick if it would be a stand-alone currency without fiat to support it.

I might mention here that your manners and language are not characteristic of an educated mind, nor even of a marginally socialized modest intelligence.


And where will you find better stability?  "Stablecoin"?  

Bitcoin will be stable when it stops growing so rapidly and has more inertia (market cap, if you must) relative to the fiat cross-flow.

Not all investors are so pusillanimous as to find the necessary growth phase daunting.  Without growth, no network can become non-trivially homeostatic.

Takes one to know one?

Did i mention that i worked 10 years ago in a psychiatric ward.

Cup and handle action happening in market at the moment.

The owners are not relevant in determining the supply.  Only the miners are relevant.  The principal mining decision makers are readily identifiable, if you take the trouble.  I have not, nor am I likely to, take the trouble.  Their interests are fairly predictably aligned with my own.

FTFY

Interesting article, thx for sharing.

@windjc

i read through all the technical fundamentals as you proposed and i came to the conclusion that this chart might be the future of Bitcoin.
It´s actually from the hidden page of Satoshis white paper written with magic ink, many have not seen it before.
You should take a look at it:











LOLOLOLOLLOLOLOLOLLOLOLOLOLOLOLOLOLOLOOL

Keyser/Bill,
You're a sensible sort.

What do you think of Jorge's proposal?


BTW excuse my spelling I'm a bit crook today (that's Australian for sick).

Explanation

You don't actually understand macroeconomics and finance better than me or you would know that the value in bitcoin is not as a currency. You missed the entire point of this technology. Currency is just one of many aspects, but certainly not the most powerful. You don't even get the basics of what is going on here or where the value lies. Volatility doesn't matter to merchants for reasons that are obvious and because of issues that have already been resolved by companies like Bitpay. However, bitcoin's power is not as a currency. Sad, that you don't even recognize that basic fundamental point, Mr. Microeconomics.