Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30600. (Read 26710695 times)
December 31, 2013, 02:03:42 PM
SMH
December 31, 2013, 02:02:31 PM
December 31, 2013, 02:01:52 PM
Perhaps true. But do not underestimate the ability of infrastructure to grow exponentially as well.
I said it yesterday in the other post and I don't wanna be repeating myself but when talking about infrastructure I see two critical points: technology and bureaucracy.
Technology can in fact hold up (with a lot of capital and work, and other exchanges popping up to cover demand).
You cannot rush bureaucracy. You have 6 months to convince banks to process 100x the amount of money they process today, all the while trying to comply with as of yet unwritten or non-existant laws and regulations. You have to go up the chain link by link, and sweet talk every player in every country. Just not possible.
Also, consider, a 100x price implies 100x more fiat processing BUT it does not imply 100x of the technological aspect. Price discovery does not equal every-day use adoption.
tl;dr: technology might be able to cope; bureaucracy can not keep up.
Since when does Bitcoin care about Bureaucracy?
Not everyone will be cashing out coins. Many will hold or trade them directly or use them independent of banks or whatever government "laws and regulations" are there. It can slow down the process, sure. But I would not be concerned about the growth of Bitcoin being a problem. It will grow in spite of these difficulties. Eventually countries will either have to accept the use of the currency or be left behind.
Then , at some point down the road, I personally think the growth will cause some panic by countries because they no longer have "control" then they will regulate the use of Bitcoin, or whatever crypto currency, by requiring a bar code on our hands or foreheads so that they can keep track of who is buying things. Call me crazy but it seems highly likely.
You're missing the point. It's not about people cashing out coins... I'm talking about the buying !
How do you presume to push the price up 100x if people can't buy coins??
Most of the forum posters here, being from the US or EU don't realize it because they don't see it. It is extremely difficult to buy coins in volume from 3rd world countries.
If you're a South American today, you cannot hook your bank to any exchange. You cannot get market prices. There is no way to acquire ""fair"" value BTC other than LocalBitcoins or the such. None.
Only people with access to foreign bank acc's can. The rest buy p2p or with CC's in dodgy sites, and always at 15-25% markup.
This is all a matter of time. Just not 6 months...
Unless of course, you think you don't need the rest of the world to go super exponential.
Not to be offensive, but who controls most of the world's finances? Unfortunately 3rd world countries do not account for that much of it. Although I would love to see them getting a chance to own as much coins as possible early on, if their countries have made it impossible to get BTC that will not keep the growth from happening anyways.
Right now BTC is legal to buy in all the countries that control most of the world's wealth. And even China and South American countries will probably find a way to get coins, albeit more difficultly, if they really want them.
December 31, 2013, 01:57:04 PM
Perhaps true. But do not underestimate the ability of infrastructure to grow exponentially as well.
I said it yesterday in the other post and I don't wanna be repeating myself but when talking about infrastructure I see two critical points: technology and bureaucracy.
Technology can in fact hold up (with a lot of capital and work, and other exchanges popping up to cover demand).
You cannot rush bureaucracy. You have 6 months to convince banks to process 100x the amount of money they process today, all the while trying to comply with as of yet unwritten or non-existant laws and regulations. You have to go up the chain link by link, and sweet talk every player in every country. Just not possible.
Also, consider, a 100x price implies 100x more fiat processing BUT it does not imply 100x of the technological aspect. Price discovery does not equal every-day use adoption.
tl;dr: technology might be able to cope; bureaucracy can not keep up.
Since when does Bitcoin care about Bureaucracy?
Not everyone will be cashing out coins. Many will hold or trade them directly or use them independent of banks or whatever government "laws and regulations" are there. It can slow down the process, sure. But I would not be concerned about the growth of Bitcoin being a problem. It will grow in spite of these difficulties. Eventually countries will either have to accept the use of the currency or be left behind.
Then , at some point down the road, I personally think the growth will cause some panic by countries because they no longer have "control" then they will regulate the use of Bitcoin, or whatever crypto currency, by requiring a bar code on our hands or foreheads so that they can keep track of who is buying things. Call me crazy but it seems highly likely.
You're missing the point. It's not about people cashing out coins... I'm talking about the buying !
How do you presume to push the price up 100x if people can't buy coins??
Most of the forum posters here, being from the US or EU don't realize it because they don't see it. It is extremely difficult to buy coins in volume from 3rd world countries.
If you're a South American today, you cannot hook your bank to any exchange. You cannot get market prices. There is no way to acquire ""fair"" value BTC other than LocalBitcoins or the such. None.
Only people with access to foreign bank acc's can. The rest buy p2p or with CC's in dodgy sites, and always at 15-25% markup.
This is all a matter of time. Just not 6 months...
Unless of course, you think you don't need the rest of the world to go super exponential.
December 31, 2013, 01:54:39 PM
December 31, 2013, 01:46:37 PM
Perhaps true. But do not underestimate the ability of infrastructure to grow exponentially as well.
I said it yesterday in the other post and I don't wanna be repeating myself but when talking about infrastructure I see two critical points: technology and bureaucracy.
Technology can in fact hold up (with a lot of capital and work, and other exchanges popping up to cover demand).
You cannot rush bureaucracy. You have 6 months to convince banks to process 100x the amount of money they process today, all the while trying to comply with as of yet unwritten or non-existant laws and regulations. You have to go up the chain link by link, and sweet talk every player in every country. Just not possible.
Also, consider, a 100x price implies 100x more fiat processing BUT it does not imply 100x of the technological aspect. Price discovery does not equal every-day use adoption.
tl;dr: technology might be able to cope; bureaucracy can not keep up.
I think Voodah makes good points here.
Let me chime in with my two-cents: we can definitely hit $3,000+ with our current infrastructure and regulatory climate, but a lot has to happen if we're going to make an uberbull move to $40,000 - $100,000. I think we need to wait for bitcoin ATMs to be deployed and operating at numerous major cities across the Western World (coming in 2014-2015?), and we need some way for the average guy with an eTrade account to get in on the game. If these two things were in place, then I can see that when the media bitcoin blitz begins again, the infrastructure can meet new demand and the price can truly reach the oort cloud.
December 31, 2013, 01:45:06 PM
Perhaps true. But do not underestimate the ability of infrastructure to grow exponentially as well.
I said it yesterday in the other post and I don't wanna be repeating myself but when talking about infrastructure I see two critical points: technology and bureaucracy.
Technology can in fact hold up (with a lot of capital and work, and other exchanges popping up to cover demand).
You cannot rush bureaucracy. You have 6 months to convince banks to process 100x the amount of money they process today, all the while trying to comply with as of yet unwritten or non-existant laws and regulations. You have to go up the chain link by link, and sweet talk every player in every country. Just not possible.
Also, consider, a 100x price implies 100x more fiat processing BUT it does not imply 100x of the technological aspect. Price discovery does not equal every-day use adoption.
tl;dr: technology might be able to cope; bureaucracy can not keep up.
Since when does Bitcoin care about Bureaucracy?
Not everyone will be cashing out coins. Many will hold or trade them directly or use them independent of banks or whatever government "laws and regulations" are there. It can slow down the process, sure. But I would not be concerned about the growth of Bitcoin being a problem. It will grow in spite of these difficulties. Eventually countries will either have to accept the use of the currency or be left behind.
Then , at some point down the road, I personally think the growth will cause some panic by countries because they no longer have "control" then they will regulate the use of Bitcoin, or whatever crypto currency, by requiring a bar code on our hands or foreheads so that they can keep track of who is buying things. (which I will not take BTW) Call me crazy but it seems highly likely.
December 31, 2013, 01:43:56 PM
Hey adam,
I know I don't post much, you might not even know i existed.
I had a competing bitcoin directory website bitcoiney.com which has been sold in the meantime.
Is there anyway you can vouch for me? I am being accused for fraud.
If anyone remembers me and my work, please come vouch for me here: http://www.reddit.com/r/mastercoin/comments/1u39ke/masterxchangecom_has_been_victim_of_an_aborted/cee7sux
I know I don't post much, you might not even know i existed.
I had a competing bitcoin directory website bitcoiney.com which has been sold in the meantime.
Is there anyway you can vouch for me? I am being accused for fraud.
If anyone remembers me and my work, please come vouch for me here: http://www.reddit.com/r/mastercoin/comments/1u39ke/masterxchangecom_has_been_victim_of_an_aborted/cee7sux
Let me say, you did not handle this well at all and it makes it very very hard to believe you.
You tried to double-spend what? Like 1000 MSC? That's like 200BTC .
I can hardly think of a reason why you would need to use such large numbers if you were simply trying to help and reporting vulnerabilities.
Careful with this guy.
I didnt double spend, I accidentally found out about a bug in mastercoin-explorer.com which displayed fake msc balance. Just displayed, all other blockchains reported the correct balance.
December 31, 2013, 01:38:34 PM
Hey adam,
I know I don't post much, you might not even know i existed.
I had a competing bitcoin directory website bitcoiney.com which has been sold in the meantime.
Is there anyway you can vouch for me? I am being accused for fraud.
If anyone remembers me and my work, please come vouch for me here: http://www.reddit.com/r/mastercoin/comments/1u39ke/masterxchangecom_has_been_victim_of_an_aborted/cee7sux
I know I don't post much, you might not even know i existed.
I had a competing bitcoin directory website bitcoiney.com which has been sold in the meantime.
Is there anyway you can vouch for me? I am being accused for fraud.
If anyone remembers me and my work, please come vouch for me here: http://www.reddit.com/r/mastercoin/comments/1u39ke/masterxchangecom_has_been_victim_of_an_aborted/cee7sux
Let me say, you did not handle this well at all and it makes it very very hard to believe you.
You tried to double-spend what? Like 1000 MSC? That's like 200BTC .
I can hardly think of a reason why you would need to use such large numbers if you were simply trying to help and reporting vulnerabilities.
Careful with this guy.
December 31, 2013, 01:29:26 PM
Hey adam,
I know I don't post much, you might not even know i existed.
I had a competing bitcoin directory website bitcoiney.com which has been sold in the meantime.
Is there anyway you can vouch for me? I am being accused for fraud.
If anyone remembers me and my work, please come vouch for me here: http://www.reddit.com/r/mastercoin/comments/1u39ke/masterxchangecom_has_been_victim_of_an_aborted/cee7sux
I know I don't post much, you might not even know i existed.
I had a competing bitcoin directory website bitcoiney.com which has been sold in the meantime.
Is there anyway you can vouch for me? I am being accused for fraud.
If anyone remembers me and my work, please come vouch for me here: http://www.reddit.com/r/mastercoin/comments/1u39ke/masterxchangecom_has_been_victim_of_an_aborted/cee7sux
December 31, 2013, 01:27:08 PM
Perhaps true. But do not underestimate the ability of infrastructure to grow exponentially as well.
I said it yesterday in the other post and I don't wanna be repeating myself but when talking about infrastructure I see two critical points: technology and bureaucracy.
Technology can in fact hold up (with a lot of capital and work, and other exchanges popping up to cover demand).
You cannot rush bureaucracy. You have 6 months to convince banks to process 100x the amount of money they process today, all the while trying to comply with as of yet unwritten or non-existant laws and regulations. You have to go up the chain link by link, and sweet talk every player in every country. Just not possible.
Also, consider, a 100x price implies 100x more fiat processing BUT it does not imply 100x of the technological aspect. Price discovery does not equal every-day use adoption.
tl;dr: technology might be able to cope; bureaucracy can not keep up.
December 31, 2013, 01:24:26 PM
Fortress is first. And so it begins.
they plan to make me rich
I plan to let them
December 31, 2013, 01:17:48 PM
Fortress is first. And so it begins.
December 31, 2013, 01:14:01 PM
this sort of stuff is what is going to take btc well over $10,000
wall street has a lot of money and they like a quick buck
$10,000 in a few months? It should not take long with Wall Street's help.Didn't the super-exponential graph indicate $100k in 6 months?
That "sanrio"" would only lead to infrastructure collapse, like the 266 crash at Gox.
I'm not gonna propagate this idea. It's a double edged-sword. Too much too fast is not sustainable.
Sure but who's to say what's too soon and too fast?
I'm not saying this will materialize (but it can). I think I'm the forum member with the most posts that include the word 'patience'
December 31, 2013, 01:13:32 PM
this sort of stuff is what is going to take btc well over $10,000
wall street has a lot of money and they like a quick buck
$10,000 in a few months? It should not take long with Wall Street's help.Didn't the super-exponential graph indicate $100k in 6 months?
That "sanrio"" would only lead to infrastructure collapse, like the 266 crash at Gox.
I'm not gonna propagate this idea. It's a double edged-sword. Too much too fast is not sustainable.
Perhaps true. But do not underestimate the ability of infrastructure to grow exponentially as well.
December 31, 2013, 01:11:17 PM
this sort of stuff is what is going to take btc well over $10,000
wall street has a lot of money and they like a quick buck
$10,000 in a few months? It should not take long with Wall Street's help.Didn't the super-exponential graph indicate $100k in 6 months?
That "sanrio"" would only lead to infrastructure collapse, like the 266 crash at Gox.
I'm not gonna propagate this idea. It's a double edged-sword. Too much too fast is not sustainable.
December 31, 2013, 01:10:38 PM
can someone comment on why Huobi open book orders are so small but their volume is so outrageous?
December 31, 2013, 01:10:32 PM
The bears will be assimilated like Proudhon.
<================
December 31, 2013, 01:09:03 PM
this sort of stuff is what is going to take btc well over $10,000
wall street has a lot of money and they like a quick buck
$10,000 in a few months? It should not take long with Wall Street's help.Didn't the super-exponential graph indicate $100k in 6 months?
$10,000 in four or five months and $100,000 by August.
Sounds good to me! I am sure it will disappoint the bears though.
The bears will be assimilated like Proudhon.
December 31, 2013, 01:08:38 PM
this sort of stuff is what is going to take btc well over $10,000
wall street has a lot of money and they like a quick buck
$10,000 in a few months? It should not take long with Wall Street's help.Didn't the super-exponential graph indicate $100k in 6 months?
$10,000 in four or five months and $100,000 by August.
Sounds good to me! I am sure it will disappoint the bears though.
lol
what dose the super-exponential graph indicate indicate for Oct. 2014
INFINITY?
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