Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30527.

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: ?? on ??

Quote from: justusranvier on January 05, 2014, 07:09:01 AM

What makes Bitcoin attractive is that nobody can create new units arbitrarily and spend them, diluting everybody else's purchasing power.

Inflation is so destructive because of what it does to economic incentives - why work to create useful products and services to earn currency if someone else can just spend newly-printed units and bid up the price of everything you want to buy?

This effect is present in Bitcoin too, but fortunately it's something that diminishes over time via a known schedule.

The imaginary economic growth thanks to controlled inflation is what brought us to the information age. Using a deflationary monetary unit worldwide will just bring humanity back to neo-feudalism with the bitcoin whales being even crueler than the current elite who are at least kept in check by politicians. I sincerely doubt that bitcoin or deflationary cryptocurrencies will replace fiat altogether, it will just remain a complementary niche market.

Wrong forum pal.

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

The award for steadfastness at Bitcoin exchanges so far this year goes to STAMP! Cheesy

Davyd05

hero member

Activity: 574

Merit: 500

Quote from: pietje on January 05, 2014, 07:29:41 AM

Quote from: wachtwoord on January 05, 2014, 07:27:51 AM

Quote from: molecular on January 05, 2014, 07:24:39 AM

Looks like a breakout attempt. If the ~360 BTC wall @845 on bitstamp gets eaten, we'll break out.

Lol did you edit that from 500BTC? What is a good site to see the walls these days?

Alot of resistence at stamp though, 1000 bts till 850
I just use the stamp orderbook, but theres probably a better site for it Tongue

think a bite of 150 - 300BTC will get it pulled quickly.

pietje

full member

Activity: 224

Merit: 100

Quote from: wachtwoord on January 05, 2014, 07:27:51 AM

Quote from: molecular on January 05, 2014, 07:24:39 AM

Looks like a breakout attempt. If the ~360 BTC wall @845 on bitstamp gets eaten, we'll break out.

Lol did you edit that from 500BTC? What is a good site to see the walls these days?

Alot of resistence at stamp though, 1000 bts till 850
I just use the stamp orderbook, but theres probably a better site for it Tongue

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: ?? on ??

The imaginary economic growth thanks to controlled inflation is what brought us to the information age. Using a deflationary monetary unit worldwide will just bring humanity back to neo-feudalism with the bitcoin whales being even crueler than the current elite who are at least kept in check by politicians. I sincerely doubt that bitcoin or deflationary cryptocurrencies will replace fiat altogether, it will just remain a complementary niche market.

Troll harder next time.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: molecular on January 05, 2014, 07:24:39 AM

Looks like a breakout attempt. If the ~360 BTC wall @845 on bitstamp gets eaten, we'll break out.

Lol did you edit that from 500BTC? What is a good site to see the walls these days?

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: molecular on January 05, 2014, 07:22:24 AM

Quote from: justusranvier on January 05, 2014, 07:09:01 AM

Quote from: molecular on January 05, 2014, 06:58:44 AM

When you think of it: Bitcoin is just as silly. The scarcity is artificial, just as with diamonds.

What makes Bitcoin attractive is that nobody can create new units arbitrarily and spend them, diluting everybody else's purchasing power.

Inflation is so destructive because of what it does to economic incentives - why work to create useful products and services to earn currency if someone else can just spend newly-printed units and bid up the price of everything you want to buy?

This effect is present in Bitcoin too, but fortunately it's something that diminishes over time via a known schedule.

Main difference is that with Bitcoin, the oversight over the artificial scarcity is decentralized. With De Beers and the diamonds, it seems it's centralized. They are at least executing their policies consistently, though, it seems. At least compared to our fiat controllers.

It is centralized. One entity can have a large effect. In Bitcoin, no single entity can. In fact, no group of entities can, unless it's the majority of the people (NOT the hashing power, that's actually not as important for this).

molecular

donator

Activity: 2772

Merit: 1019

Looks like a breakout attempt. If the ~360 BTC wall @845 on bitstamp gets eaten, we'll break out.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: justusranvier on January 05, 2014, 07:09:01 AM

Quote from: molecular on January 05, 2014, 06:58:44 AM

When you think of it: Bitcoin is just as silly. The scarcity is artificial, just as with diamonds.

What makes Bitcoin attractive is that nobody can create new units arbitrarily and spend them, diluting everybody else's purchasing power.

Inflation is so destructive because of what it does to economic incentives - why work to create useful products and services to earn currency if someone else can just spend newly-printed units and bid up the price of everything you want to buy?

This effect is present in Bitcoin too, but fortunately it's something that diminishes over time via a known schedule.

Main difference is that with Bitcoin, the oversight over the artificial scarcity is decentralized. With De Beers and the diamonds, it seems it's centralized. They are at least executing their policies consistently, though, it seems. At least compared to our fiat controllers.

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: molecular on January 05, 2014, 06:58:44 AM

When you think of it: Bitcoin is just as silly. The scarcity is artificial, just as with diamonds.

What makes Bitcoin attractive is that nobody can create new units arbitrarily and spend them, diluting everybody else's purchasing power.

Inflation is so destructive because of what it does to economic incentives - why work to create useful products and services to earn currency if someone else can just spend newly-printed units and bid up the price of everything you want to buy?

This effect is present in Bitcoin too, but fortunately it's something that diminishes over time via a known schedule.

Davyd05

hero member

Activity: 574

Merit: 500

Quote from: StarenseN on January 05, 2014, 06:34:40 AM

Quote from: HairyMaclairy on January 05, 2014, 05:50:05 AM

This is the weekend crash.

Hm no, sunday means asian monday. so North

going for 5100 Cheesy

molecular

donator

Activity: 2772

Merit: 1019

Quote from: pietje on January 05, 2014, 06:26:29 AM

Quote from: wachtwoord on January 05, 2014, 06:22:51 AM

Is the Gox-Stamp gap widening? (in the last few days I mean)

Yea it is i guess.
What does that mean?

Maybe fresh blood still flows the the "best, biggest and most liquid bitcoin exchange, mtGox" and this means we're getting new money rolling in?

molecular

donator

Activity: 2772

Merit: 1019

Quote from: wachtwoord on January 05, 2014, 06:22:51 AM

Is the Gox-Stamp gap widening? (in the last few days I mean)

seems to be the case to me, yes. It used to be 10% in summer 2013, then it want to be more like 5-8% until a couple of days ago? Haven't really checked though.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

molecular

donator

Activity: 2772

Merit: 1019

Quote from: macsga on January 04, 2014, 07:04:53 PM

Quote from: molecular on January 04, 2014, 06:39:38 PM

not good for germans.

Sounds too much like "Mofa":

a choo choo mofa? No fucking way!

Jesus Christ!!! I owned one of those back in the 80s!!!! Shocked

If you still had it in good condition it'd be worth quite a bit these days Wink

molecular

donator

Activity: 2772

Merit: 1019

Quote from: ?? on ??

Quote from: molecular on January 04, 2014, 06:15:09 PM

Quote from: Richy_T on January 04, 2014, 05:47:11 PM

Quote from: macsga on January 04, 2014, 01:32:36 PM

LTC/PPC/(place whatever here) will be players too. Smaller stakes, but IN the game. That's because people need variety and solutions to their problems. Bitcoin might be gold, but there must be diamonds and silver too...

Diamonds are just plentiful, bland looking rocks. They only have their value because of successful advertising campaigns and DeBeers keeping their huge stockpiles hidden away.

Probably one of the most successful and long-lasting advertising campaigns of all time.

I know... I explained this to my wife... She still wants (and thus got lots of) bling.

But I kind of understand it, large diamonds to a girl is more or less what a high end super car, or a super model GF is to a guy.

And in the end we know we have to keep the girls happy so we buy the silly rocks...

When you think of it: Bitcoin is just as silly. The scarcity is artificial, just as with diamonds.

Salivan

full member

Activity: 195

Merit: 102

DiMS dev team

I have speculation that in order to relatively easy move entire market the way to do this is to cause some action on gox, all the rest will follow sooner or later.
What this means:
someone is driving price up by purpose and I don't really bother Wink

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: HairyMaclairy on January 05, 2014, 06:33:18 AM

CBF calculating it but it just might look like the spread is increasing when it is staying constant in % terms.

That's why I was asking. Lazy Sunday Wink

StarenseN

legendary

Activity: 2478

Merit: 1362

Quote from: HairyMaclairy on January 05, 2014, 05:50:05 AM

This is the weekend crash.

Hm no, sunday means asian monday. so North

HairyMaclairy

legendary

Activity: 1442

Merit: 2282

Degenerate bull hatter & Bitcoin monotheist

CBF calculating it but it just might look like the spread is increasing when it is staying constant in % terms.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30527. (Read 26710486 times)