Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31417. (Read 26708471 times)
December 05, 2013, 12:02:18 AM
December 05, 2013, 12:01:28 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
Huh, good point. I never paid much attention. Do you think BTC-E is Faux volume of trades or perhaps just crazy bot trade?
I honestly don't know.
MtGox is well known to be a clusterfuck of incompetence but I'd expect their business to go to Bitstamp, not BTC-e.
Maybe it's bot-trade, the alt currencies have been going nuts.
December 04, 2013, 11:56:36 PM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
Huh, good point. I never paid much attention. Do you think BTC-E is Faux volume of trades or perhaps just crazy bot trade?
I honestly don't know.
MtGox is well known to be a clusterfuck of incompetence but I'd expect their business to go to Bitstamp, not BTC-e.
Maybe it's bot-trade, the alt currencies have been going nuts.
December 04, 2013, 11:54:52 PM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
Huh, good point. I never paid much attention. Do you think BTC-E is Faux volume of trades or perhaps just crazy bot trade?
December 04, 2013, 11:53:07 PM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already.
Apples and oranges. That was comparing Last Gox Trade price of bitcoin to Gold bid. The last trade price of gold was above 1242 (1242.80) at that time so didn't quite make it until tonite.
December 04, 2013, 11:45:24 PM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
December 04, 2013, 11:43:13 PM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
December 04, 2013, 11:38:32 PM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already.
That's it folks. For the first time in history 1,000,000 bits sold for more than an ounce of gold.
$1242.00
$1242.00
Not true. We came close but Gold was a little over 1242 at the time.
Sort of... you don't get an ounce at spot unless you have a desperate seller.
And you couldn't buy gold with GoxBux anyway.
December 04, 2013, 11:33:54 PM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already.
That's it folks. For the first time in history 1,000,000 bits sold for more than an ounce of gold.
$1242.00
$1242.00
Not true. We came close but Gold was a little over 1242 at the time.
Sort of... you don't get an ounce at spot unless you have a desperate seller.
December 04, 2013, 11:32:30 PM
Honestly it's mostly hype, Bitcoin isn't a serious transaction medium yet. I remember seeing an article proclaiming 6000 or 7000 sales through Bitpay on Bitcoin Black Friday as proof that we're a real ecosystem.
No, a couple sales per minute on a special day does NOT make a payment system worth $12-13B. That's like a fucking Girl Scout cookie stand.
We've passed Western Union at ~$9B market cap, and they process 28 transactions per second, every day.
Right now Bitcoin is a store of value. The value comes from Bitcoin's future potential as a currency and payment system. Lots of businesses will sign up because it's free and it saves them money; the hard part is convincing people to buy and spend bitcoins if:
A) it's going up constantly and they'll have more money if they wait, and
B) if the currency is extremely volatile.
We know A) will eventually resolve itself if the system grows to maturity. There is a limit to all growth.
The doubt was about B), and my doubts are disappearing.
Exactly how much aggravation, eye-gouging fees, delays, noise, fuss, AML rubber-gloving would someone get from WU if they tried to send $147 million on a Sunday night, across the planet, person-to-person, and wanted it to arrive in seconds, irrevocably confirmed in an hour?
WU is Dead Man Walking right now.
You're right, WU has lost 100% of the market share for wiring $147M at once.
But, yes; Bitcoin has the short term potential to take the wire and remittance market, just as soon as we get some decent exchanges.
WU needs to buy Gox.
It would solve both their problems.
And many of ours.
December 04, 2013, 11:30:44 PM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already.
That's it folks. For the first time in history 1,000,000 bits sold for more than an ounce of gold.
$1242.00
$1242.00
I thought we came close but Gold was a little over 1242 at the time. I will check! Above chart looks convincing.
December 04, 2013, 11:27:24 PM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already.
December 04, 2013, 11:26:20 PM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
Next stop: Euro 1359. Platinum 1362.
Next stop: Euro 1359. Platinum 1362.
December 04, 2013, 11:26:06 PM
Honestly it's mostly hype, Bitcoin isn't a serious transaction medium yet. I remember seeing an article proclaiming 6000 or 7000 sales through Bitpay on Bitcoin Black Friday as proof that we're a real ecosystem.
No, a couple sales per minute on a special day does NOT make a payment system worth $12-13B. That's like a fucking Girl Scout cookie stand.
We've passed Western Union at ~$9B market cap, and they process 28 transactions per second, every day.
Right now Bitcoin is a store of value. The value comes from Bitcoin's future potential as a currency and payment system. Lots of businesses will sign up because it's free and it saves them money; the hard part is convincing people to buy and spend bitcoins if:
A) it's going up constantly and they'll have more money if they wait, and
B) if the currency is extremely volatile.
We know A) will eventually resolve itself if the system grows to maturity. There is a limit to all growth.
The doubt was about B), and my doubts are disappearing.
Exactly how much aggravation, eye-gouging fees, delays, noise, fuss, AML rubber-gloving would someone get from WU if they tried to send $147 million on a Sunday night, across the planet, person-to-person, and wanted it to arrive in seconds, irrevocably confirmed in an hour?
WU is Dead Man Walking right now.
You're right, WU has lost 100% of the market share for wiring $147M at once.
But, yes; Bitcoin has the short term potential to take the wire and remittance market, just as soon as we get some decent exchanges.
December 04, 2013, 11:18:00 PM
Honestly it's mostly hype, Bitcoin isn't a serious transaction medium yet. I remember seeing an article proclaiming 6000 or 7000 sales through Bitpay on Bitcoin Black Friday as proof that we're a real ecosystem.
No, a couple sales per minute on a special day does NOT make a payment system worth $12-13B. That's like a fucking Girl Scout cookie stand.
We've passed Western Union at ~$9B market cap, and they process 28 transactions per second, every day.
Right now Bitcoin is a store of value. The value comes from Bitcoin's future potential as a currency and payment system. Lots of businesses will sign up because it's free and it saves them money; the hard part is convincing people to buy and spend bitcoins if:
A) it's going up constantly and they'll have more money if they wait, and
B) if the currency is extremely volatile.
We know A) will eventually resolve itself if the system grows to maturity. There is a limit to all growth.
The doubt was about B), and my doubts are disappearing.
Exactly how much aggravation, eye-gouging fees, delays, noise, fuss, AML rubber-gloving would someone get from WU if they tried to send $147 million on a Sunday night, across the planet, person-to-person, and wanted it to arrive in seconds, irrevocably confirmed in an hour?
WU is Dead Man Walking right now.
December 04, 2013, 11:16:42 PM
http://www.google.com/trends/explore#q=bitcoin%2C%20dollar&cmpt=q
Yup. Only twice as many searches for "dollar" as "Bitcoin".
Yup. Only twice as many searches for "dollar" as "Bitcoin".
Count me a skeptic unless and until "bitcoin" passes "kardashian."
http://www.google.com/trends/explore#q=bitcoin%2C%20Kardashian&cmpt=q
Looks like an easier milestone than "dollar". Similar volatility though
We're lining up the putt... crystal ball says we're closing in on the ATH.
Hmmm, I think we already won based on that measure...
December 04, 2013, 11:15:46 PM
This board has done exactly 900 pages in less than 1 month.
https://bitcointalk.org/index.php?topic=178336.38840
How do we rank that? Is this a posting bubble?
https://bitcointalk.org/index.php?topic=178336.38840
How do we rank that? Is this a posting bubble?
No doubt. The collapse of this thread is imminent. Any time now
EDIT: Maybe we'll just have a correction and be set back 325-375 pages imo
Stupid bear. This thread is set to go to teh m00n. I am bullish as ever.
We should have a pagecount predictions market.
Guess the pagecount Goxbucks meeting point.
December 04, 2013, 11:09:08 PM
This board has done exactly 900 pages in less than 1 month.
https://bitcointalk.org/index.php?topic=178336.38840
How do we rank that? Is this a posting bubble?
https://bitcointalk.org/index.php?topic=178336.38840
How do we rank that? Is this a posting bubble?
No doubt. The collapse of this thread is imminent. Any time now
EDIT: Maybe we'll just have a correction and be set back 325-375 pages imo
Stupid bear. This thread is set to go to teh m00n. I am bullish as ever.
We should have a pagecount predictions market.
December 04, 2013, 11:05:25 PM
This board has done exactly 900 pages in less than 1 month.
https://bitcointalk.org/index.php?topic=178336.38840
How do we rank that? Is this a posting bubble?
https://bitcointalk.org/index.php?topic=178336.38840
How do we rank that? Is this a posting bubble?
No doubt. The collapse of this thread is imminent. Any time now
EDIT: Maybe we'll just have a correction and be set back 325-375 pages imo
Stupid bear. This thread is set to go to teh m00n. I am bullish as ever.
December 04, 2013, 10:44:38 PM
What's the deal in Aus anyway? How do they even know the money you recieve is Bitcoin related, or how long you've owned those coins (assuming the over one year - 50% cap gains applies)?
well you know we're all spied on these days, actually the bank could possibly notify the tax office if money comes from an exchange - the strange thing is we don't pay tax on winnings from lotteries or gambling, you'd think high risk investments would fit into that category.
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