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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31804. (Read 26711244 times)

legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

I suppose comparing to gold or oil would be the answer.

maybe water?


Bitcoin is a protocol and a technology; it's just a layer, not necessarily the layer that directly touches the end-user. It's the many bitcoin businesses that emerge that will leverage the bitcoin technology directly and provide a consumer friendly service to deliver a wide variety of financial products and services, and compete with each other to solve all problems relating to transaction time, security, etc.
I'm sorry but this is complete bullshit.

The first goal of bitcoin should be to be able to handle the same amount of transactions as visa.
And it is 1700 visa transactions vs 7 possible bitcoin transactions.
I don't understand why so many don't want to see that problem. Still high from the last ath?
Bitcoin is not gold.

7/sec is enough for now

their are many solutions, we are actively looking at the solutions and trying to figure out which is best.

this is what software is all about really...
sr. member
Activity: 260
Merit: 250

I'm sorry but this is complete bullshit.

The first goal of bitcoin should be to be able to handle the same amount of transactions as visa.
And it is 1700 visa transactions vs 7 possible bitcoin transactions.
I don't understand why so many don't want to see that problem. Still high from the last ath?
Bitcoin is not gold.

I promise you, bitcoin will not be what you think it should within the next few months.   That is not a guess, that is a promise.   Please do us all a favor and sell your bitcoins now, and leave as quickly as you came.   I can't believe that you are so new and think you know anything . . .   If you want to actually learn, spend some time listening, and asking questions.   Spend less time spouting nonsense.   There is a lot of great insight to be gleaned here, if you are wise.
legendary
Activity: 3388
Merit: 4775
diamond-handed zealot

The highly secure blockchain is the right medium for small transfers. You will have to have the possibility to buy every day stuff with your smartphone with bitcoin, or it will die. Period. Off-the-chain is the most stupid shit I heard the last weeks.

all I needed to hear, please stop quoting him guys, it makes my head hurt
legendary
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
Despite the bubble poppage, there is massive bid depth building across the exchanges. Bitstamp now has 10m USD (up from 700k in the summer and 6m just the other day). BT China now has 55m CNY (up from 5m at the beginning of the rally). I don't know what to make of it. My instinct from April, looking at the asks, and the h4 emas, is to sell because its probably capitulating into 300. But then I look at these new bids and I just don't think its safe. What do you think?

This November bubble rally is nothing like the April one. In April it went up 20x. The post-April level was about $120 when the oscillations finally dampened out. The recent rise is about 5x, and may well be in keeping with all the recent long-term investment and ecosystem expansion.

I have sold a couple of percent of my holding at $585 but am now thinking that the cheap coins from the recent correction are already scooped up.
legendary
Activity: 2674
Merit: 2373
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
So much for the maturing infrastructure, all exchanges are plagued by glitches not worthy of a multi billion currency .


See, when I read that, I hear the word "opportunity". Not one I will choose to take but somebody will before too long.
full member
Activity: 122
Merit: 100
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

I suppose comparing to gold or oil would be the answer.

maybe water?


Bitcoin is a protocol and a technology; it's just a layer, not necessarily the layer that directly touches the end-user. It's the many bitcoin businesses that emerge that will leverage the bitcoin technology directly and provide a consumer friendly service to deliver a wide variety of financial products and services, and compete with each other to solve all problems relating to transaction time, security, etc.
I'm sorry but this is complete bullshit.

The first goal of bitcoin should be to be able to handle the same amount of transactions as visa.
And it is 1700 visa transactions vs 7 possible bitcoin transactions.
I don't understand why so many don't want to see that problem. Still high from the last ath?
Bitcoin is not gold.

No need to apologize, you refuted yourself by not providing any reasoning.
newbie
Activity: 42
Merit: 0
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

sea shells, and food stamps.

no more actual food stamps anymore, now you have wait in line for your "Obama card"! LOL  Grin
newbie
Activity: 28
Merit: 0
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

I suppose comparing to gold or oil would be the answer.

maybe water?


Bitcoin is a protocol and a technology; it's just a layer, not necessarily the layer that directly touches the end-user. It's the many bitcoin businesses that emerge that will leverage the bitcoin technology directly and provide a consumer friendly service to deliver a wide variety of financial products and services, and compete with each other to solve all problems relating to transaction time, security, etc.
I'm sorry but this is complete bullshit.

The first goal of bitcoin should be to be able to handle the same amount of transactions as visa.
And it is 1700 visa transactions vs 7 possible bitcoin transactions.
I don't understand why so many don't want to see that problem. Still high from the last ath?
Bitcoin is not gold.
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Has anyone here thought that BTC is the way to deflate the inflated fiat $ and the Banks get away with it? Why are they're so "pros" to it? Is there a possibility that it's a Bank (or institutional) "child"?  Huh
full member
Activity: 122
Merit: 100
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

I suppose comparing to gold or oil would be the answer.

maybe water?


Bitcoin is a protocol and a technology; it's just a layer, not necessarily the layer that directly touches the end-user. It's the many bitcoin businesses that emerge that will leverage the bitcoin technology directly and provide a consumer friendly service to deliver a wide variety of financial products and services, and compete with each other to solve all problems relating to transaction time, security, etc.
newbie
Activity: 42
Merit: 0
So much for the maturing infrastructure, all exchanges are plagued by glitches not worthy of a multi billion currency .


The exchanges are incurable. Do I really need to do this?  Undecided

you are about to be flagged and reported ! ..take a moment to check your e:mail inbox or respond here bro!  Cool *many thanks & blessed!
legendary
Activity: 1552
Merit: 1047
Bitcoin gets exponentially more volatile over time until all numbers infinitely small towards 0 and infinitely large are exhausted and the universe impldes.

I agree that Bitcoin will become more volatile over time.

In absolute numbers, sure, in percentages, take a look at the last 2 bubbles.
+1

We'll be seeing $100 swings like it's nothing in the future, but % swings will be very low.
legendary
Activity: 947
Merit: 1008
central banking = outdated protocol
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

I suppose comparing to gold or oil would be the answer.

maybe water?


A basket of water perhaps?
legendary
Activity: 1372
Merit: 1000

I give up fresh eyes, I just didn't see this coming. What should i do with my bits of electronic cookies. I'll try sell some and then reformat , and we can start again from the same footing. Who's in?

Bitcoin was never going to be a universal, flattened currency. Never—ever. That is not it's niche in a monetary ecosystem. Bitcoin is a risk distributor, just one part of an emerging monetary ecosystem.

Hi chodpada, great to see you. Risk Distribution Virus rings in my ears every morning.

So yes Bitcoin has many values other than currency, just how it spreads and is valued is the question.
legendary
Activity: 1260
Merit: 1000
Drunk Posts
Bitcoin gets exponentially more volatile over time until all numbers infinitely small towards 0 and infinitely large are exhausted and the universe impldes.

I agree that Bitcoin will become more volatile over time.

In absolute numbers, sure, in percentages, take a look at the last 2 bubbles.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

I suppose comparing to gold or oil would be the answer.

maybe water?
legendary
Activity: 1552
Merit: 1047
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.


First of all, a store of value is not a highly volatile asset class. What makes you believe that Bitcoin will ever not be volatile?
Trade and speculation will decrease volatility, the more speculators we have the more people are trying to grab profit and their margins will decrease, leading to a more stable market. A large market cap is also a part of that.

Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...
If bitcoin becomes the only currency left you will compare it with cars and houses, food and cloths.
legendary
Activity: 947
Merit: 1008
central banking = outdated protocol
I think we're looking at it the wrong way. Maybe bitcoin isn't destined to become a currency, but something else. It's deflationary, has no consumer protection, transfers are irrevocable and no identities are tied to the addresses. How can this ever become a currency?
Bitcoin is super silver.
I like it!
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

sea shells, and food stamps.
legendary
Activity: 947
Merit: 1008
central banking = outdated protocol
Bitcoin doesn't need to be a currency to be successful. It will in fact be wildly successful even if only functioning as a store of value, the tax havens amounts to trillions. The first phase is speculation and this is where we are now... people believe in bitcoins future potential and that is what drives the price up and the large market cap will make it viable for large fortunes to be stored in bitcoin, eventually it will stabilize at much higher prices. At that point it will work well as a way to settle debt even if we're not able to do as many transactions as other networks I don't think it matters. Micro-transactions can happen off-chain, big money stored safely away from government and bankers.

How can big money be stored away safely if bitcoin is still tied to fiat currency? If fiat currency collapses, bitcoin no longer has anything to compare itself to, so how would we express value then? Using valuation in bitcoin itself? How would that work since there's a limited amount...

I suppose comparing to gold or oil would be the answer.
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