Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31907.

Carlor

newbie

Activity: 28

Merit: 0

Quote from: Carlor on November 20, 2013, 04:23:59 PM

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.

Government currency comes with NO built-in means of transferring ownership. Payment networks operate on top of currencies by moving balances around in their own computers and then to bank account computers. (Do you really own money if it is just someone else's computer record saying you do?) Likewise it is expected that one emerging market is payment processors who handle your Bitcoin money for you when you want to spend it.

The paper money you can turn that account balance into has value only based on what you can trade it for. Government currencies mask volatility by printing more, but they can also create more money to devalue their own debts, to pay their bills, at the expense of long-term holders. I can no longer buy a car for $3000 or a hair cut for $0.25.

When the exchanges are less important to obtaining your initial Bitcoins, and merchants are willing to take 1 BTC for their product regardless of what number is showing on an exchange in another country, then you will see less volatility.

You forget, that you are obligated to accept government currency as a payment. Government currency has a huge advantage over others, it has a lot of force behind it.
Bitcoins advantages are technical and if you take that from bitcoin there is nothing left.

Quote

You work towards bitcoin replacing Visa and take over the 'billions', the rest of us will aim towards replacing the international wire system and take over the trillions.

You know that most people here are just working at making some dollars with buying and selling.
Look at the bitcoin paper again and think what bitcoin was about. And then look at the stores accepting bitcoin and then think if there should be more.
I mean there are not a lot of stores, who accept gold transfers, so why would bitcoin need that...

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: pera on November 20, 2013, 04:49:58 PM

feelings?

love

Sword Smith

sr. member

Activity: 406

Merit: 286

Neptune, Scalable Privacy

Quote from: pera on November 20, 2013, 04:49:58 PM

feelings?

I really hope we go down. I have way to much fiat atm.

maz

full member

Activity: 140

Merit: 100

Quote from: Carlor on November 20, 2013, 04:23:59 PM

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.

You work towards bitcoin replacing Visa and take over the 'billions', the rest of us will aim towards replacing the international wire system and take over the trillions.

Do you know the story of the daddy bull and his son bull standing on the top of the hill looking at a field full of female cows? The kid bull says 'hey dad lets run down there and fuck one of those cows', the daddy bull says 'no son, lets walk down and fuck them all'

pera

sr. member

Activity: 532

Merit: 261

バカ

feelings?

tHash

sr. member

Activity: 260

Merit: 250

Quote from: barbs on November 20, 2013, 04:46:48 PM

awful lot of bear talk from senior members including some newbie members.. makes me think we're going up and they're trying to get readers to sell

Shhhh. Don't let the secret out!

Sword Smith

sr. member

Activity: 406

Merit: 286

Neptune, Scalable Privacy

Quote from: TheKoziTwo on November 20, 2013, 04:40:06 PM

Quote from: Sword Smith on November 20, 2013, 04:36:30 PM

Do anyone know why Bitstamp is more expensive than mtgox atm?

I believe there was some issue with fiat deposit that recently got solved. Could be a lot of money hitting the exchange all wanting to get in at once.

Thanks for clearing that up. Makes sense.

barbs

hero member

Activity: 854

Merit: 1000

awful lot of bear talk from senior members including some newbie members.. makes me think we're going up and they're trying to get readers to sell

Carlor

newbie

Activity: 28

Merit: 0

Quote from: TheKoziTwo on November 20, 2013, 04:31:45 PM

Quote from: Carlor on November 20, 2013, 04:23:59 PM

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.

Bitcoin is not gold, it's gold 2.0. The whole point of bitcoin is to have money that are decentralized so that government cannot control it. By increasing the blocksize limit too much you will lose that decentralization as the blockchain becomes hosted at few, centralized servers. We don't want such control point, therefore the limit must be increased in accordance to the technological development. We have plenty of time before we need bitcoin to do anything near the volume of VISA. And it certainly isn't the first goal. Bitcoin is first and foremost gold 2.0, and we can use it as a debt settlement mechanism.

Bitcoin is not gold 2.0.
If you had one node in every city in the world, it would be decentralized enough. There is no need for every single person to be a node. And this idea is in every scenario completely conflicting with the necessary for worldwide transactions.
There will be no trust in bitcoin if it loses it's obvious advantages over visa and co.
If you treat it like gold 2.0 it will be just another bullshit stuff like other "virtual currencies".

Take a look at the bitcoin paper and see, what one of the reasons for the bitcoin design was.

But whatever. This is offtopic anyways and we will see whether bitcoin will be destroyed by the gold gold gold idiots or if it excels because of its technical advantages.
I hope for the last and for some reason in the bitcoin community.

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: PrymeTyme on November 20, 2013, 04:43:14 PM

Quote from: adamstgBit on November 20, 2013, 04:36:45 PM

Quote from: PrymeTyme on November 20, 2013, 04:32:49 PM

as of now we got a well balanced book .. seems the the 580-600 price range is considered fair .. as of now ..

yes the dust is clearing.
but will their be another bear? I'm counting on it....

hmm.. we are pretty much still in bear country .. but if a retest of the lows @450 hold .. and it shifts back in the favour of demand . then the bears had their turn ..
and the market is ready for an advance .. or rangebound betwenn 450 -650 ..

but hey if an rally atempt takes out 630 .. we are pretty much set for another rally

if their is a retest....

i think their will be, i have 15K that says their will be!

if not my wife will get all kinds of goodies for Xmas.

PrymeTyme

full member

Activity: 183

Merit: 101

Quote from: adamstgBit on November 20, 2013, 04:36:45 PM

Quote from: PrymeTyme on November 20, 2013, 04:32:49 PM

as of now we got a well balanced book .. seems the the 580-600 price range is considered fair .. as of now ..

yes the dust is clearing.
but will their be another bear? I'm counting on it....

hmm.. we are pretty much still in bear country .. but if a retest of the lows @450 hold .. and it shifts back in the favour of demand . then the bears had their turn ..
and the market is ready for an advance .. or rangebound betwenn 450 -650 ..

but hey if an rally atempt takes out 630 .. we are pretty much set for another rally

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: miningnew on November 20, 2013, 04:41:58 PM

Quote from: adamstgBit on November 20, 2013, 04:36:45 PM

Quote from: PrymeTyme on November 20, 2013, 04:32:49 PM

as of now we got a well balanced book .. seems the the 580-600 price range is considered fair .. as of now ..

yes the dust is clearing.
but will their be another bear? I'm counting on it....

How much do you holdi n btc and how much fiat?

i am 80% fiat

good stuff

now place bids and pray to wtv god you believe in.

davider

member

Activity: 72

Merit: 10

Me too, 80% in fiat

miningnew

hero member

Activity: 854

Merit: 501

Quote from: adamstgBit on November 20, 2013, 04:36:45 PM

Quote from: PrymeTyme on November 20, 2013, 04:32:49 PM

as of now we got a well balanced book .. seems the the 580-600 price range is considered fair .. as of now ..

yes the dust is clearing.
but will their be another bear? I'm counting on it....

How much do you holdi n btc and how much fiat?

i am 80% fiat

erk

hero member

Activity: 826

Merit: 500

Quote from: BldSwtTrs on November 20, 2013, 04:39:11 PM

What is happening to BTC-e?

Why they are stuck to 512$ whereas the other are way higher

It's perfectly normal for BTC-e

TheKoziTwo

legendary

Activity: 1552

Merit: 1047

Quote from: Sword Smith on November 20, 2013, 04:36:30 PM

Do anyone know why Bitstamp is more expensive than mtgox atm?

I believe there was some issue with fiat deposit that recently got solved. Could be a lot of money hitting the exchange all wanting to get in at once.

BldSwtTrs

legendary

Activity: 861

Merit: 1010

What is happening to BTC-e?

Why they are stuck to 512$ whereas the other are way higher

Richy_T

legendary

Activity: 2688

Merit: 2394

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: Carlor on November 20, 2013, 04:23:59 PM

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 don't know enough about the problem to be able to comment with authority but I do know that with the computational power of the Bitcoin network, there's no reason a solution can't be found.

adamstgBit

legendary

Activity: 1904

Merit: 1038

Trusted Bitcoiner

Quote from: PrymeTyme on November 20, 2013, 04:32:49 PM

as of now we got a well balanced book .. seems the the 580-600 price range is considered fair .. as of now ..

yes the dust is clearing.
but will their be another bear? I'm counting on it....

PrymeTyme

full member

Activity: 183

Merit: 101

Quote from: ?? on ??

Quote from: PrymeTyme on November 20, 2013, 04:32:49 PM

as of now we got a well balanced book .. seems the the 580-600 price range is considered fair .. as of now ..

That was so 80 seconds ago, bitcoins changed a lot since those days Tongue

lol.... yup it shifted in athe favour of the ASK .. but as this is a Market like any else ( yea i said that!) as the market is on the lookout for trades
and as of know it wil find those trades at the ASK .. we willl see 600 testet before the low 500 s

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