Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31701. (Read 26608864 times)
November 22, 2013, 11:22:28 AM
stamps forming a limp one
November 22, 2013, 11:22:21 AM
http://
i read the wsj article where someone valued his 8 BTC as 8 MILLION by next November!!!
..needless to say i'm holding to $10,000+ lol
price held up while i was sleeping
its going to 3000$ boys, and it won't stop there... sell your gold!
its going to 3000$ boys, and it won't stop there... sell your gold!
i read the wsj article where someone valued his 8 BTC as 8 MILLION by next November!!!
..needless to say i'm holding to $10,000+ lolWTF???
Link or it didn't happen.i value the remainder of my stash at infinity.
i will spend it wisely
last night i sold, today price is up, lol typical....
Haha, yeah well, lets just hope when the value is fluctuating between 13000 and 14500 in several seasons we are still around. It's really dangerous to be off this train. (It's impossible to beat 4000% in one year) Will history repeat, again? (puts on tin foil hat, grabs magick 8 ball)
November 22, 2013, 11:21:16 AM
i'm like a bitcoin profit or somthing.
subscribe to bitmovements
November 22, 2013, 11:20:19 AM
Not sure if your intention is to argue for or against me, but that exactly shows why the 7 tps limit is by design (thus should not be removed to ensure decentralization, another key point in bitcoin design) and makes it impossible for it to compete with credit card companies.
There's honestly no reason to be bearish on Bitcoin, for any reason, except the centralization of Bitcoin. (Which seems they are proposing) The only thing required to overcome the 1mb limit and maintain it, is to increase off blockchain transactions. This is what Ripple is for and will allow Bitcoin transactions with virtually no limit.
November 22, 2013, 11:19:34 AM
786 is key resistance! Need the breakthrough before the moon, them rockets don't build themselves you know.
Seem to me we are building the platform to blast right through that resistance as we speak
Gox 6hr chart looks exactly like that - no way it is a top
What is typically made of the declining volume coming off the spike at 900 in both directions-- you know, the mountain with equal sides of volume on that same chart?
November 22, 2013, 11:18:18 AM
I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.
Imagine the utopian mass adoption that's being fed to the public.
Take a small country (or a large American city) with about 15 million inhabitants, or 5 million households.
Every household will have to do groceries about each other day, so that's 2.5 million customers in supermarkets each day countrywide.
Day has 24 hours, so that's 104166 transactions per hour
= 29 transactions per second
And this is for one small country only, for only the basic needs (food), and that's already 4 times what the Bitcoin network can physically handle.
You're not going to convince me that the Bitcoin protocol will ever be able to sustain a world economy for day-to-day transactions.
Hence why I'll always be bearish, even though it's a great market to profit from atm.
Nonsense. Only a retard would think that a block-chain based currency is efficient for day-by-day purchases as grocery shopping.
As warchwoord said 1MB max block hard limit was placed BY DESIGN. The point of BTC is the universal ledger and the possibility for everyone to run a full node. It's meant to be a safe and decentralized way to store and transfer value (among other things), not to be a micro payment network competing with Visa or PayPal.
99% of BTC economy is driven by investors and speculators, what makes you think that it has to change at some point? You don't buy groceries with gold neither.
I mean maybe it would cause more problems though if it was all fully mainstream
November 22, 2013, 11:16:18 AM
price held up while i was sleeping
its going to 3000$ boys, and it won't stop there... sell your gold!
its going to 3000$ boys, and it won't stop there... sell your gold!
i read the wsj article where someone valued his 8 BTC as 8 MILLION by next November!!!
..needless to say i'm holding to $10,000+ lolWTF???
Link or it didn't happen.i value the remainder of my stash at infinity.
i will spend it wisely
last night i sold, today price is up, lol typical....
November 22, 2013, 11:15:55 AM
Not sure if your intention is to argue for or against me, but that exactly shows why the 7 tps limit is by design (thus should not be removed to ensure decentralization, another key point in bitcoin design) and makes it impossible for it to compete with credit card companies.
I speculate the argument goes no where. But hypothesize that.. the bears are sitting in the tree line whale spotting
November 22, 2013, 11:13:38 AM
Not sure if your intention is to argue for or against me, but that exactly shows why the 7 tps limit is by design (thus should not be removed to ensure decentralization, another key point in bitcoin design) and makes it impossible for it to compete with credit card companies.
November 22, 2013, 11:13:33 AM
Anyone knows what is the thought for the bitcoin to go to enormous rates (like 5k or 10k) per BTC?
I mean there are already cryptocoins following bitcoins and these can also be added as a way of payment in various ecommerce and such.
Or maybe there is something more to these than ecommerce?
I mean there are already cryptocoins following bitcoins and these can also be added as a way of payment in various ecommerce and such.
Or maybe there is something more to these than ecommerce?
November 22, 2013, 11:11:59 AM
price held up while i was sleeping
its going to 3000$ boys, and it won't stop there... sell your gold!
its going to 3000$ boys, and it won't stop there... sell your gold!
i read the wsj article where someone valued his 8 BTC as 8 MILLION by next November!!!
..needless to say i'm holding to $10,000+ lolWTF???
Link or it didn't happen. November 22, 2013, 11:10:45 AM
China is not following. The arbitrage is quickly closing. What happens next is that arbitrageurs buy back in China and sell the equivalent in Bitstamp. At least I will do that 
Did you sell @ over 1100 @ BTCChina?Do you buy back in China when Stamp/Gox are at the same level or before (say 770 bitstamp - 820 BTCChina)?
Arbitrage is best when the price differential is the highest. I got more than 50%.
Looking at 6 month chart, China has equalled Bitstamp about half of the time. I see no reason to pay any premium this way.
It is a little bit tricky to do it calmly, because in my case there is overall position management, swing trading and arbitrage all working together. It is like a requirement to think with 3 different brains simultaneously.
Nice work, I know you're in multiple exchanges too. And you're doing this manually? If so, might I suggest heading towards something a bit more automated, at some point-- I can't imagine trying to manually handle arb across the exchanges. However, it sounds like a good idea for me to cancel my arb strategy as I see it dissolving in front of my eyes. Not like you need advice on making dough.
Say you have.. x fiat in x exchange with the lowest rate per fiat/btc .. at y exchange the price is highest per fiat/btc you sell and transfer fiat on home.. you re enter market in x exchange i'd assume at the same time or before and arbitrage is complete? your gonna wait on the fiat to wire over from y but to your bank.. but your positions have increased in fiat and btc. Or so my sleepless logic believes.
Just break the ideas apart. 1) Have balances in multiple exchanges, arb (simultaneous buy and sell) when the prices are appropriately profitable-- diff minus slippage & fees... 2) every once in x you would need to rebalance the portfolios. It's #2 that's still more difficult IMO
November 22, 2013, 11:10:00 AM
Yeah, but there's smaller risks in bitcoin than in lottery. All decision in life have risks, important thing is to try to learn them. Good way of not learning these risks is to obey some principle like "don't ever invest loaned money" and not thinking why?
Better to learn from the mistakes of others than your own.
this one time my friend tried to navigate through trees on a gt snow racer.. lets just say.. concussion + lost of teeth... has never been an issue of mine.
November 22, 2013, 11:09:18 AM
Yeah, but there's smaller risks in bitcoin than in lottery. All decision in life have risks, important thing is to try to learn them. Good way of not learning these risks is to obey some principle like "don't ever invest loaned money" and not thinking why?
Better to learn from the mistakes of others than your own.
Either way you always have to understand why if you want to learn.
November 22, 2013, 11:08:55 AM
price held up while i was sleeping
its going to 3000$ boys, and it won't stop there... sell your gold!
its going to 3000$ boys, and it won't stop there... sell your gold!
i read the wsj article where someone valued his 8 BTC as 8 MILLION by next November!!!
..needless to say i'm holding to $10,000+ lol November 22, 2013, 11:08:42 AM
Still with 7 transactions per second being the hard cap limit, I will always have a big bear in me telling me this will never grow out to compete with credit card companies. And also this issue can't be fixed.
You're wrong on more than one point. But I understand you're probably just trying to talk the price down, so cheers!
This!
http://www.washingtonpost.com/blogs/the-switch/wp/2013/11/12/bitcoin-needs-to-scale-by-a-factor-of-1000-to-compete-with-visa-heres-how-to-do-it/
Sounds like the centralization of Bitcoin around large mining farms will soon be complete. Doesn't really sound like anything to be cheering.
November 22, 2013, 11:07:56 AM
Yeah, but there's smaller risks in bitcoin than in lottery. All decision in life have risks, important thing is to try to learn them. Good way of not learning these risks is to obey some principle like "don't ever invest loaned money" and not thinking why?
Better to learn from the mistakes of others than your own.
November 22, 2013, 11:07:21 AM
I think we're at or approaching 1 tx a second.. so we need 7x as many were getting now before we start to worry about that.
Imagine the utopian mass adoption that's being fed to the public.
Take a small country (or a large American city) with about 15 million inhabitants, or 5 million households.
Every household will have to do groceries about each other day, so that's 2.5 million customers in supermarkets each day countrywide.
Day has 24 hours, so that's 104166 transactions per hour
= 29 transactions per second
And this is for one small country only, for only the basic needs (food), and that's already 4 times what the Bitcoin network can physically handle.
You're not going to convince me that the Bitcoin protocol will ever be able to sustain a world economy for day-to-day transactions.
Hence why I'll always be bearish, even though it's a great market to profit from atm.
Nonsense. Only a retard would think that a block-chain based currency is efficient for day-by-day purchases as grocery shopping.
As warchwoord said 1MB max block hard limit was placed BY DESIGN. The point of BTC is the universal ledger and the possibility for everyone to run a full node. It's meant to be a safe and decentralized way to store and transfer value (among other things), not to be a micro payment network competing with Visa or PayPal.
99% of BTC economy is driven by investors and speculators, what makes you think that it has to change at some point? You don't buy groceries with gold neither.
I still think that something like mirrored system based on effectively dead bitcoin address is possible. Lost coins could gain value in this mirrored universe but with different properties. thus may be useful for dust operations
November 22, 2013, 11:04:57 AM
China is not following. The arbitrage is quickly closing. What happens next is that arbitrageurs buy back in China and sell the equivalent in Bitstamp. At least I will do that
Did you sell @ over 1100 @ BTCChina?Do you buy back in China when Stamp/Gox are at the same level or before (say 770 bitstamp - 820 BTCChina)?
Arbitrage is best when the price differential is the highest. I got more than 50%.
Looking at 6 month chart, China has equalled Bitstamp about half of the time. I see no reason to pay any premium this way.
It is a little bit tricky to do it calmly, because in my case there is overall position management, swing trading and arbitrage all working together. It is like a requirement to think with 3 different brains simultaneously.
Nice work, I know you're in multiple exchanges too. And you're doing this manually? If so, might I suggest heading towards something a bit more automated, at some point-- I can't imagine trying to manually handle arb across the exchanges. However, it sounds like a good idea for me to cancel my arb strategy as I see it dissolving in front of my eyes. Not like you need advice on making dough.
Say you have.. x fiat in x exchange with the lowest rate per fiat/btc .. at y exchange the price is highest per fiat/btc you sell and transfer fiat on home.. you re enter market in x exchange i'd assume at the same time or before and arbitrage is complete? your gonna wait on the fiat to wire over from y but to your bank.. but your positions have increased in fiat and btc. Or so my sleepless logic believes.
November 22, 2013, 11:04:25 AM
Is this a massive breakout trying to happen? Anyone?
Looks like it. Let's see what happens when the $800 wall goes down.
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