Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31610. (Read 26731247 times)
November 30, 2013, 08:34:50 PM
Sell suckers, sell.
November 30, 2013, 08:32:27 PM
Now there is some action. 
edit: 100 bitcoins soaked up without any hesitation.
edit: 100 bitcoins soaked up without any hesitation.
November 30, 2013, 08:27:06 PM
Same effect 4,000$ had 6 months ago
November 30, 2013, 08:24:02 PM
Not to derail this interesting topic, but I think it is neat that a couple of sells totaling ~72000 USD doesn't even faze Gox anymore.
November 30, 2013, 08:17:48 PM
There is no "backing". There is only utility.
I would argue that bitcoin is backed by a very specific cryptographic algorithm.
that's wht i tried to mean by hash
thanks for the clearance as well
November 30, 2013, 08:15:22 PM
what would you be able to trade bitcoins for if the dollar/euro crashed first?
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
I'm going to step away from the uber-bullishness for a minute to say that the dollar/euro aren't going to be immediately swept away by Bitcoin. That simply won't happen.
It's not to say that Bitcoin can't rapidly achieve a trillion-dollar-plus market cap - I believe it can - just that the role of inflationary currencies will continue to be a large and important one for the foreseeable future. Beyond the fact that tax obligations have to be paid in state-issued fiat, banking will be difficult in Bitcoin, and financial markets will certainly not be switching anytime soon - most "wealth" is in equities or derivatives, priced in dollars.
Then there's the fact that oil can only be purchased with dollars.
Gold, silver, and fiat have been coexisting for many years now, and I do not expect Bitcoin will upset that balance. We're looking at a timescale of decades before we can expect fiat to go away.
Frankly, I much prefer it that way. A functional alternative to fiat is actually better than a giant upheaval.
Some people still get the paper in their driveway every morning. And sometimes even I enjoy the experience.
I really don't know about that to be honest. I wish bitcoin could peacefully exist next to fiat, I wouldn't mind personally as long as I have the freedom to choose. But I can't help but feel that once bitcoin settles itself as a perfectly legit and accepted form of money people are going to all run into bitcoin. I mean who the hell wants to hold on to constantly depreciating paper fiat when you have something like bitcoin? Everyone would just keep the minimum needed in fiat and keep the rest in bitcoin. Fiat just can't compete, it's no match and people will find that out very very quickly.
November 30, 2013, 08:11:29 PM
There is no "backing". There is only utility.
I would argue that bitcoin is backed by a very specific cryptographic algorithm.
I think Vycid said it pretty clearly, and I agree. The unmentioned part that is exciting to me is the underlying value of the protocol/blockchain. The rest is us speculating on the future price of the mining reward.
yup!
November 30, 2013, 08:03:41 PM
November 30, 2013, 08:03:21 PM
I think Vycid said it pretty clearly, and I agree. The unmentioned part that is exciting to me is the underlying value of the protocol/blockchain. The rest is us speculating on the future price of the mining reward.
November 30, 2013, 08:02:44 PM
what would you be able to trade bitcoins for if the dollar/euro crashed first?
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
I'm going to step away from the uber-bullishness for a minute to say that the dollar/euro aren't going to be immediately swept away by Bitcoin. That simply won't happen.
It's not to say that Bitcoin can't rapidly achieve a trillion-dollar-plus market cap - I believe it can - just that the role of inflationary currencies will continue to be a large and important one for the foreseeable future. Beyond the fact that tax obligations have to be paid in state-issued fiat, banking will be difficult in Bitcoin, and financial markets will certainly not be switching anytime soon - most "wealth" is in equities or derivatives, priced in dollars.
Then there's the fact that oil can only be purchased with dollars.
Gold, silver, and fiat have been coexisting for many years now, and I do not expect Bitcoin will upset that balance. We're looking at a timescale of decades before we can expect fiat to go away.
Frankly, I much prefer it that way. A functional alternative to fiat is actually better than a giant upheaval.
Some people still get the paper in their driveway every morning. And sometimes even I enjoy the experience.
I guess i agree with you, you make valid points, and true i prefer it that way as well, i was just thinking it becuase as i see it works kind of like this way the backd up Gold/Silver --->>> Currencies --->>> Bitcoin value?, *correct me if im wrong
while the direct backup for bitcoin is the hash number of each?
or am i just tripping
Not really sure what you're talking about.
Nothing is backed by anything but faith these days. "The Economy" is a collective hallucination.
lol, sorry if i didnt explained myself in a more clear way, english is not my first language, even so, you answered my point, as everything is backed by the faith or value perception only.
Well
for the time beeing im starting to love this collective hallucination xD Beautifull and elegant way of describing it 
November 30, 2013, 08:01:56 PM
I'm just going to put this out there...Anything below 5k is a bargain.
I've come to the conclusion you are just a bull-troll.
No, he's a Bear. Anything below 10K is cheap. All you need to do to is allow time to pass to discover that this is true. Or not.
All for one, and one for all
November 30, 2013, 07:57:55 PM
what would you be able to trade bitcoins for if the dollar/euro crashed first?
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
I'm going to step away from the uber-bullishness for a minute to say that the dollar/euro aren't going to be immediately swept away by Bitcoin. That simply won't happen.
It's not to say that Bitcoin can't rapidly achieve a trillion-dollar-plus market cap - I believe it can - just that the role of inflationary currencies will continue to be a large and important one for the foreseeable future. Beyond the fact that tax obligations have to be paid in state-issued fiat, banking will be difficult in Bitcoin, and financial markets will certainly not be switching anytime soon - most "wealth" is in equities or derivatives, priced in dollars.
Then there's the fact that oil can only be purchased with dollars.
Gold, silver, and fiat have been coexisting for many years now, and I do not expect Bitcoin will upset that balance. We're looking at a timescale of decades before we can expect fiat to go away.
Frankly, I much prefer it that way. A functional alternative to fiat is actually better than a giant upheaval.
Some people still get the paper in their driveway every morning. And sometimes even I enjoy the experience.
I guess i agree with you, you make valid points, and true i prefer it that way as well, i was just thinking it becuase as i see it works kind of like this way the backd up Gold/Silver --->>> Currencies --->>> Bitcoin value?, *correct me if im wrong
while the direct backup for bitcoin is the hash number of each?
or am i just tripping
There is no "backing". There is only utility.
November 30, 2013, 07:57:21 PM
what would you be able to trade bitcoins for if the dollar/euro crashed first?
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
I'm going to step away from the uber-bullishness for a minute to say that the dollar/euro aren't going to be immediately swept away by Bitcoin. That simply won't happen.
It's not to say that Bitcoin can't rapidly achieve a trillion-dollar-plus market cap - I believe it can - just that the role of inflationary currencies will continue to be a large and important one for the foreseeable future. Beyond the fact that tax obligations have to be paid in state-issued fiat, banking will be difficult in Bitcoin, and financial markets will certainly not be switching anytime soon - most "wealth" is in equities or derivatives, priced in dollars.
Then there's the fact that oil can only be purchased with dollars.
Gold, silver, and fiat have been coexisting for many years now, and I do not expect Bitcoin will upset that balance. We're looking at a timescale of decades before we can expect fiat to go away.
Frankly, I much prefer it that way. A functional alternative to fiat is actually better than a giant upheaval.
Some people still get the paper in their driveway every morning. And sometimes even I enjoy the experience.
I guess i agree with you, you make valid points, and true i prefer it that way as well, i was just thinking it becuase as i see it works kind of like this way the backd up Gold/Silver --->>> Currencies --->>> Bitcoin value?, *correct me if im wrong
while the direct backup for bitcoin is the hash number of each?
or am i just tripping
Not really sure what you're talking about.
Nothing is backed by anything but faith these days. Gold is backed exclusively by people who want it. Silver is backed exclusively by people who want it. The dollar is backed exclusively by people who want it. And naturally, Bitcoin is backed exclusively by people who want it. "The Economy" is a collective hallucination.
With that in mind, the people who cry "tulip!" at Bitcoin are really just not thinking very hard about the way the world ticks. Gold is the biggest tulip of all time, and that doesn't keep it from a 7 trillion dollar market cap.
November 30, 2013, 07:54:03 PM
what would you be able to trade bitcoins for if the dollar/euro crashed first?
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
I'm going to step away from the uber-bullishness for a minute to say that the dollar/euro aren't going to be immediately swept away by Bitcoin. That simply won't happen.
It's not to say that Bitcoin can't rapidly achieve a trillion-dollar-plus market cap - I believe it can - just that the role of inflationary currencies will continue to be a large and important one for the foreseeable future. Beyond the fact that tax obligations have to be paid in state-issued fiat, banking will be difficult in Bitcoin, and financial markets will certainly not be switching anytime soon - most "wealth" is in equities or derivatives, priced in dollars.
Then there's the fact that oil can only be purchased with dollars.
Gold, silver, and fiat have been coexisting for many years now, and I do not expect Bitcoin will upset that balance. We're looking at a timescale of decades before we can expect fiat to go away.
Frankly, I much prefer it that way. A functional alternative to fiat is actually better than a giant upheaval.
Some people still get the paper in their driveway every morning. And sometimes even I enjoy the experience.
I guess i agree with you, you make valid points, and true i prefer it that way as well, i was just thinking it becuase as i see it works kind of like this way the backd up Gold/Silver --->>> Currencies --->>> Bitcoin value?, *correct me if im wrong
while the direct backup for bitcoin is the hash number of each?
or am i just tripping
November 30, 2013, 07:31:25 PM
what would you be able to trade bitcoins for if the dollar/euro crashed first?
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
I'm going to step away from the uber-bullishness for a minute to say that the dollar/euro aren't going to be immediately swept away by Bitcoin. That simply won't happen.
It's not to say that Bitcoin can't rapidly achieve a trillion-dollar-plus market cap - I believe it can - just that the role of inflationary currencies will continue to be a large and important one for the foreseeable future. Beyond the fact that tax obligations have to be paid in state-issued fiat, banking will be difficult in Bitcoin, and financial markets will certainly not be switching anytime soon - most "wealth" is in equities or derivatives, priced in dollars.
Then there's the fact that oil can only be purchased with dollars.
Gold, silver, and fiat have been coexisting for many years now, and I do not expect Bitcoin will upset that balance. We're looking at a timescale of decades before we can expect fiat to go away.
Frankly, I much prefer it that way. A functional alternative to fiat is actually better than a giant upheaval.
Some people still get the paper in their driveway every morning. And sometimes even I enjoy the experience.
November 30, 2013, 07:28:01 PM
what would you be able to trade bitcoins for if the dollar/euro crashed first?
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
November 30, 2013, 07:18:21 PM
I think early 2014 will actually be an exciting time.
Naval (video below) stated that Bitcoin would become more and more relevant to the start up space when the market cap reached the ~$3-5B range.
http://www.youtube.com/watch?v=Jl-HZWfxUFw
We've blown through that quickly, and we're now sitting at ~$12B. I imagine (though I'm far from an insider) things are really developing quickly now in that space.
When the market cap was $1B, if you were to invest $10M into a Bitcoin startup, you'd want to capture at least 10M/1B (1%) of that market cap as it grows. Otherwise, you'd be better off simply investing in the underlying currency. With a market cap of $10B, that same investment would only need to capture 0.1% of the growing market cap to be better than purchasing Bitcoin outright. Clearly added incentive now.
Naval (video below) stated that Bitcoin would become more and more relevant to the start up space when the market cap reached the ~$3-5B range.
http://www.youtube.com/watch?v=Jl-HZWfxUFw
We've blown through that quickly, and we're now sitting at ~$12B. I imagine (though I'm far from an insider) things are really developing quickly now in that space.
When the market cap was $1B, if you were to invest $10M into a Bitcoin startup, you'd want to capture at least 10M/1B (1%) of that market cap as it grows. Otherwise, you'd be better off simply investing in the underlying currency. With a market cap of $10B, that same investment would only need to capture 0.1% of the growing market cap to be better than purchasing Bitcoin outright. Clearly added incentive now.
This is another good point. Institutional money is coming, and when that hits everything changes.
If you don't recognize Bitcoin crossing $10B as a huge welcome mat for the big money then you're not paying attention.
Don't sell your coins unless it is to get out of debt (the bad kind, not college loans or mortgages).
Oh yeah, and don't invest in mining stocks, because Samsung is probably 6 months away from offering its own product.
November 30, 2013, 07:15:15 PM
I think early 2014 will actually be an exciting time.
Naval (video below) stated that Bitcoin would become more and more relevant to the start up space when the market cap reached the ~$3-5B range.
http://www.youtube.com/watch?v=Jl-HZWfxUFw
We've blown through that quickly, and we're now sitting at ~$12B. I imagine (though I'm far from an insider) things are really developing quickly now in that space.
When the market cap was $1B, if you were to invest $10M into a Bitcoin startup, you'd want to capture at least 10M/1B (1%) of that market cap as it grows. Otherwise, you'd be better off simply investing and holding the underlying currency. With a market cap of $10B, that same investment would only need to capture 0.1% of the growing market cap to be better than purchasing Bitcoin outright. Clearly added incentive now.
Putting my faith in entrepreneur's in early 2014.
And the ETF, if we're lucky.
Naval (video below) stated that Bitcoin would become more and more relevant to the start up space when the market cap reached the ~$3-5B range.
http://www.youtube.com/watch?v=Jl-HZWfxUFw
We've blown through that quickly, and we're now sitting at ~$12B. I imagine (though I'm far from an insider) things are really developing quickly now in that space.
When the market cap was $1B, if you were to invest $10M into a Bitcoin startup, you'd want to capture at least 10M/1B (1%) of that market cap as it grows. Otherwise, you'd be better off simply investing and holding the underlying currency. With a market cap of $10B, that same investment would only need to capture 0.1% of the growing market cap to be better than purchasing Bitcoin outright. Clearly added incentive now.
Putting my faith in entrepreneur's in early 2014.
And the ETF, if we're lucky.
November 30, 2013, 07:08:29 PM
Right. The point has been made - Bitcoin can hit 10k per coin without passing Facebook's market cap.
Ask yourself which one has more potential and you will start to see things a bit more clearly.
Ask yourself which one has more potential and you will start to see things a bit more clearly.
So very true. I think this every single time I hear about the "value" of some of these companies.
Instagram was sold not too long ago for many billions of dollars. How the fuck can they possibly expect to turn over a profit? By advertising to 14 year olds who think a grainy photo is cool?
Sometimes I think another dot com bubble is on the way. This is exactly what happened 13-14 years ago - people were throwing insane amounts of money at companies with no real business model (I realise that some bears will probably say the same thing about Bitcoin. It has legitimate potential. So, whatever).
I just hope Bitcoin doesn't get hurt when it all comes down. Maybe the stock market crashing would actually strengthen Bitcoin.
Bitcoin doesn't need to turn a profit, though. The model is entirely different. The network just needs to spread in order to increase demand for the currency units. In order to spread, it needs to offer an advantage over traditional systems. And it is unmistakable what is happening.
As has been repeated many times, Bitcoin is subject to a network effect; every new user that enters the network causes an exponential increase in the value of the network. Sooner or later (sooner, at this rate) we will hit a critical point and the true value of the network will exceed the current speculative value.
The growth trend is unmistakable and increasingly unstoppable. More and more people are looking long enough to realize that. The more unstoppable the network growth appears, the higher the speculative value should be.
Oh yeah, and there's a positive feedback loop between speculative value and network growth.
Honey badger don't give a shit.
This is the address of the "Hi Mom" kid, for those curious (vanity address and everything, brilliant). https://blockchain.info/address/1HiMoMgBaAikFHgAt3M4YJtetp4HrnsiXu
November 30, 2013, 07:03:49 PM
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