Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30406. (Read 26712348 times)
January 10, 2014, 01:08:07 AM
January 10, 2014, 01:06:09 AM
Quote
Why would someone convert USD to BTC if they can buy with USD directly?
Specifically, in response to the question, because that person does not live in the US and does not have easy access to USD, but does have BTC.Nice. I didn't realize this benefit till you mentioned it. Sometimes it's also impossible to even pay with certain international credit cards, which is obviously not a problem with bitcoin/coinbase.
It's not just having USD, it's having a credit card with a US billing address.
I live in Australia. Many Australians open US bank accounts when they are on holiday in the US and keep them stocked with funds so they can access various things that are not available in Australia like Netflix. Dodging geoblocking is a national sport.
Bitcoin makes this easier. You don't have to have a USD credit card with a US address. Third party shipment processors them deal with the issue of the vendor not wanting to ship outside the US for physical goods.
January 10, 2014, 01:02:31 AM
January 10, 2014, 01:02:05 AM
I guess Buy on rumors , Sell on news about to play out lolz
January 10, 2014, 12:56:55 AM
Methinks you won't need your alarm set tonight. Get some rest. The weekend may see a chance to buy lower. Or it might provide a nice sell point.
Ya. I'm 50-50 so let her rip!
Ya. I'm 50-50 so let her rip!
January 10, 2014, 12:35:30 AM
Prepare for glory!
I cant wait!
get ready guys
don't forget to set an alarm!
i'm gana try to get some sleep
I cant wait!
get ready guys
don't forget to set an alarm!
i'm gana try to get some sleep
January 10, 2014, 12:27:08 AM
time to test support levels is it ?
yes
and
i'm ready, i was born ready!
What is your target @ stamp adam ?
i start buying at 700, i go ape shit at 650
January 10, 2014, 12:25:09 AM
time to test support levels is it ?
yes
and
i'm ready, i was born ready!
What is your target @ stamp adam ?
January 10, 2014, 12:24:12 AM
time to test support levels is it ?
yes
and
i'm ready, i was born ready!
January 10, 2014, 12:23:22 AM
time to test support levels is it ?
Yes we're going for a quad bottom
January 10, 2014, 12:18:47 AM
time to test support levels is it ?
January 10, 2014, 12:03:16 AM
You either only care about the current price or your a dinosaur academic type.
I am a dinosaur academic type. I understand enough of the protocol to believe that it is technically sound. My skepticism is about the economic aspects.
It doesn't bother me that people are speculating (basically, gambling) on a market with very uncertain future -- as long as everybody understands the odds and risks.
It does bother me that Bitcoin is being "sold" by some with rather misleading claims, such as "the supply is limited" (true of Bitcoin, but not of cryptocurrencies in general), "transfers are anonymous", "cannot be stolen or taxed",
"there are no fees", "banks and governments cannot touch it", etc.
And it bothers me a lot when speculators turn to Latin America as a promising source of Rich Suckers -- who, they hope, will buy those overpriced Bitcoins that no longer find buyers in China, India, Europe and North America.
Not if I can help it.
Even if we grant you these grievances, Bitcoin is better than any currency issued by any government in Latin America.
January 10, 2014, 12:02:34 AM
January 09, 2014, 11:58:02 PM
"transfers are anonymous", "cannot be stolen or taxed""there are no fees"
These bogus arguments are still circulating, although the "official bitcoin sources" now seem to avoid them.
Transfers can be anonymous if one takes the proper precautions. Good luck stealing private keys stored in M of N paper wallets. Taxes paid is up to the individual, as with pretty much everything else. Transaction fee's depend on various properties of the transaction (some are free).
"banks and governments cannot touch it"
you must mean something slightly more nuanced and that's not coming across.
Governments can outlaw or regulate Bitcoin as they wish. Their law enforcement agencies generally have sufficient power and tools to ensure that most citizens will comply with the laws. See China and India for example.you must mean something slightly more nuanced and that's not coming across.
They can outlaw or regulate Bitcoin as they wish, just like file sharing.
seriously consider the chances that it may either a) not have much significant impact on [LatAm] economy at all, or b) just possibly it might even be a net positive outcome for Latin America
I cannot recommend to anyone that they invest money in something which, in my opinion, is unlikely to ever be more than a form of gambling.
I wouldn't recommend anyone to invest money into anything. I would gladly share information about the technology.
As for impact, last year we saw in Brazil the collapse of TelexFree, a rather obvious Ponzi schema, and OGX, an oil company which allegedly misled investors about productivity of its wells. Each involved the transfer of several billion dollars from the pockets of smart people to those of even smarter people. (The TelexFree operators alone pocketed more than half a billion USD; still unclear how much more.)
Sounds like a lot of smart people indeed. Perhaps they should be prudent instead of smart.
January 09, 2014, 11:48:56 PM
"transfers are anonymous", "cannot be stolen or taxed""there are no fees"
These bogus arguments are still circulating, although the "official bitcoin sources" now seem to avoid them.
"banks and governments cannot touch it"
you must mean something slightly more nuanced and that's not coming across.
Governments can outlaw or regulate Bitcoin as they wish. Their law enforcement agencies generally have sufficient power and tools to ensure that most citizens will comply with the laws. See China and India for example.you must mean something slightly more nuanced and that's not coming across.
seriously consider the chances that it may either a) not have much significant impact on [LatAm] economy at all, or b) just possibly it might even be a net positive outcome for Latin America
I cannot recommend to anyone that they invest money in something which, in my opinion, is unlikely to ever be more than a form of gambling.
As for impact, last year we saw in Brazil the collapse of TelexFree, a rather obvious Ponzi schema, and OGX, an oil company which allegedly misled investors about productivity of its wells. Each involved the transfer of several billion dollars from the pockets of smart people to those of even smarter people. (The TelexFree operators alone pocketed more than half a billion USD; still unclear how much more.)
January 09, 2014, 11:19:17 PM
I'll just say this. Based on the stereotypes of your misgivings, there is a lot for you to learn about Bitcoin. And if you study long enough your mind will probably change.
Not likely. Academia is hardly independent from the established interests which Bitcoin threatens."It is difficult to get a man to understand something, when his salary depends upon his not understanding it."
January 09, 2014, 11:14:29 PM
Fake volume is when a chinese exchanger has 400 to 500 btc on the orderbook but claims volume of 50k /day
I do not see the connection between the two.Right now in http://bitcoinwisdom.com/markets/huobi/btccny I see about 10 transactions per minute, which would be about 15,000 per day and thus about 3 BTC per transaction on average.
Are they showing the entire order book, or only the N highest bids and lowest asks?
Is is possible that the exchanges are posting fake orders, that will never get closed with real transactions?
January 09, 2014, 11:13:53 PM
Quote
Why would someone convert USD to BTC if they can buy with USD directly?
Specifically, in response to the question, because that person does not live in the US and does not have easy access to USD, but does have BTC.Nice. I didn't realize this benefit till you mentioned it. Sometimes it's also impossible to even pay with certain international credit cards, which is obviously not a problem with bitcoin/coinbase.
January 09, 2014, 11:11:29 PM
You either only care about the current price or your a dinosaur academic type.
I am a dinosaur academic type. I understand enough of the protocol to believe that it is technically sound. My skepticism is about the economic aspects.
It doesn't bother me that people are speculating (basically, gambling) on a market with very uncertain future -- as long as everybody understands the odds and risks.
It does bother me that Bitcoin is being "sold" by some with rather misleading claims, such as "the supply is limited" (true of Bitcoin, but not of cryptocurrencies in general), "transfers are anonymous", "cannot be stolen or taxed",
"there are no fees", "banks and governments cannot touch it", etc.
And it bothers me a lot when speculators turn to Latin America as a promising source of Rich Suckers -- who, they hope, will buy those overpriced Bitcoins that no longer find buyers in China, India, Europe and North America.
Not if I can help it.
I'd like to address those "misleading claims" if I may.
- "the supply is limited" (true of Bitcoin, but not of cryptocurrencies in general)
Well that's kind of the point isn't it. Gold is not the only metal. If I want gold I have to buy gold. I can't just buy silver and say I have gold.
The supply of Bitcoin is indeed strictly limited, which I'm sure you understand all too well having studied its protocol.
- "transfers are anonymous", "cannot be stolen or taxed"
Anyone "selling" bitcoins using these arguments is just a sleazy salesman.
They're misleading nonsense but so are some of the things said about a broad variety of financial instruments sold in fiat every day.
- "there are no fees"
Just hyperbole.
- "banks and governments cannot touch it"
Well, if handled correctly they of course can't. I'm sure you understand this technical aspect too and you must therefore mean something slightly more nuanced and that's not coming across.
If you are out to defend Latin America from bitcoin, I'd urge you to seriously consider the chances that it may either a) not have much significant impact on that particular economy at all, or b) just possibly it might even be a net positive outcome for Latin America if it adopted more rapidly than other global economies.
January 09, 2014, 11:09:53 PM
You either only care about the current price or your a dinosaur academic type.
I am a dinosaur academic type. I understand enough of the protocol to believe that it is technically sound. My skepticism is about the economic aspects.
It doesn't bother me that people are speculating (basically, gambling) on a market with very uncertain future -- as long as everybody understands the odds and risks.
It does bother me that Bitcoin is being "sold" by some with rather misleading claims, such as "the supply is limited" (true of Bitcoin, but not of cryptocurrencies in general), "transfers are anonymous", "cannot be stolen or taxed",
"there are no fees", "banks and governments cannot touch it", etc.
And it bothers me a lot when speculators turn to Latin America as a promising source of Rich Suckers -- who, they hope, will buy those overpriced Bitcoins that no longer find buyers in China, India, Europe and North America.
Not if I can help it.
I'll just say this. Based on the stereotypes of your misgivings, there is a lot for you to learn about Bitcoin. And if you study long enough your mind will probably change.
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