Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32659.

deeplink

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In cryptography we trust

Quote from: ElectricMucus on July 11, 2013, 11:33:15 AM

Quote from: deeplink on July 11, 2013, 11:26:38 AM

Quote from: Richy_T on July 11, 2013, 10:53:42 AM

Quote from: NewLiberty on July 11, 2013, 10:32:58 AM

So yes it can be done. Is it good for "Bitcoin"?

It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.

It seems these early adopters have had a pretty good understanding of where the future is going. I for one would be happy to see these kinds of people get incredibly, filthy rich, so they can invest in awesome new businesses and technologies. Now that would make a change away from the current status quo, where the financial system only benefits parasites and sociopaths.

IMO most Bitcoiners are the most sociopathic people there are.
It takes a *special* attitude to strive after a system where economic status is derived only by a unchangeable, unchallengeable, non-physical ledger.

Maybe it would change your mind if you didn't spend so much time in the speculation forum? Tongue

I refer to the Bitcoin early adopters, not the current get rick quick types. People like the the guy responding to this Reddit topic and there are many other examples.

Miz4r

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Quote from: ElectricMucus on July 11, 2013, 11:33:15 AM

Quote from: deeplink on July 11, 2013, 11:26:38 AM

Quote from: Richy_T on July 11, 2013, 10:53:42 AM

Quote from: NewLiberty on July 11, 2013, 10:32:58 AM

So yes it can be done. Is it good for "Bitcoin"?

It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.

It seems these early adopters have had a pretty good understanding of where the future is going. I for one would be happy to see these kinds of people get incredibly, filthy rich, so they can invest in awesome new businesses and technologies. Now that would make a change away from the current status quo, where the financial system only benefits parasites and sociopaths.

IMO most Bitcoiners are the most sociopathic people there are.
It takes a *special* attitude to strive after a system where economic status is derived only by a unchangeable, unchallengeable, non-physical ledger.

Can't be more sociopathic than banksters and Wall Street junkies. Tongue

ElectricMucus

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Marketing manager - GO MP

Quote from: deeplink on July 11, 2013, 11:26:38 AM

Quote from: Richy_T on July 11, 2013, 10:53:42 AM

Quote from: NewLiberty on July 11, 2013, 10:32:58 AM

So yes it can be done. Is it good for "Bitcoin"?

It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.

It seems these early adopters have had a pretty good understanding of where the future is going. I for one would be happy to see these kinds of people get incredibly, filthy rich, so they can invest in awesome new businesses and technologies. Now that would make a change away from the current status quo, where the financial system only benefits parasites and sociopaths.

IMO most Bitcoiners are the most sociopathic people there are.
It takes a *special* attitude to strive after a system where economic status is derived only by a unchangeable, unchallengeable, non-physical ledger.

deeplink

hero member

Activity: 728

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In cryptography we trust

Quote from: Richy_T on July 11, 2013, 10:53:42 AM

Quote from: NewLiberty on July 11, 2013, 10:32:58 AM

So yes it can be done. Is it good for "Bitcoin"?

It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.

It seems these early adopters have had a pretty good understanding of where the future is going. I for one would be happy to see these kinds of people get incredibly, filthy rich, so they can invest in awesome new businesses and technologies. Now that would make a change away from the current status quo, where the financial system only benefits parasites and sociopaths.

Nightowlace

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Quote from: Richy_T on July 11, 2013, 10:53:42 AM

Quote from: NewLiberty on July 11, 2013, 10:32:58 AM

So yes it can be done. Is it good for "Bitcoin"?

It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.

I don't agree with this. The price will rise as the demand/use/store of value (whichever route BTC takes) increases thus making the "limited" amount of BTC more valuable. People will not have to own a Bitcoin but rather could own a few Satoshis which will be worth what a whole BTC is worth today. I believe this is what many "early adopters" who are holding their BTC are hoping for. Regardless if you are buying BTC now you are an "early adopter". Get in where you can, and help grow BTC however you can.

Adrian-x

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Quote from: NewLiberty on July 11, 2013, 11:00:33 AM

Quote from: Richy_T on July 11, 2013, 10:53:42 AM

Quote from: NewLiberty on July 11, 2013, 10:32:58 AM

So yes it can be done. Is it good for "Bitcoin"?

It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.

Not sure I agree with that as a necessary precursor to the success of bitcoin, but assuming that it is for the moment, how and why does speculation accomplish that?

The fear of losing there value (early adopters don't want to be holding a hot potato) distribution = diversified demand = greater chance of sustained value.

NewLiberty

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Quote from: Richy_T on July 11, 2013, 10:53:42 AM

Quote from: NewLiberty on July 11, 2013, 10:32:58 AM

So yes it can be done. Is it good for "Bitcoin"?

It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.

Not sure I agree with that as a necessary precursor to the success of bitcoin, but assuming that it is for the moment, how and why does speculation accomplish that?

Richy_T

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: NewLiberty on July 11, 2013, 10:32:58 AM

So yes it can be done. Is it good for "Bitcoin"?

It may be. There's an awful lot of bitcoins owned by relatively few early adopters. If Bitcoin is to succeed, a large chunk of those bitcoins need to be extracted from those early adopters and spread amongst the general population.

Richy_T

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Activity: 2576

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: Frozenlock on July 10, 2013, 10:57:58 PM

Everyone wanted $50 coins.
The sooner they wake up, the better. Tongue

I would have settled for $60. But I'm not fussed about it. Though the currency I would have bought them in has fallen 7% against the dollar since then so it would have been a double good buy to have got in.

NewLiberty

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Gresham's Lawyer

Quote from: Richy_T on July 11, 2013, 10:26:13 AM

Quote from: MickeyT2008 on July 10, 2013, 03:38:25 PM

This is true, Bitcoin as a speculation medium and as a currency don't go together.

People speculate on traditional currencies all the time. It's how Soros made his money.

I think you made the Mickey's point for him.
Or were you not aware of the effect on those currencies?

So yes it can be done. Is it good for "Bitcoin"?

Richy_T

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Quote from: MickeyT2008 on July 10, 2013, 03:38:25 PM

This is true, Bitcoin as a speculation medium and as a currency don't go together.

People speculate on traditional currencies all the time. It's how Soros made his money.

ft73

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Quote from: Its About Sharing on July 11, 2013, 09:57:24 AM

On the 15 minute chart it looks like things are breaking down (or a double, tripple bottom) - 85 is key it seems.
Even the 1 and 4 hour chart are dipping a bit. Interesting at this level:

I would tell $84, as posted before.
$84 break => $80 imho.

EDIT: Roll Eyes

Sorry, i was following BitStamp. $85 sounds fine Grin

Its About Sharing

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Antifragile

On the 15 minute chart it looks like things are breaking down (or a double, tripple bottom) - 85 is key it seems.
Even the 1 and 4 hour chart are dipping a bit. Interesting at this level:

Miz4r

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TA also showed a head and shoulders pattern forming and it was confirmed and completed, just look at lucif's thread. Calling manipulation as an excuse every time your personal TA interpretation doesn't work out is kinda cheap imo. Also nothing is set in stone, you're always working with probabilities and not certainties.

Its About Sharing

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Antifragile

Quote from: MAbtc on July 11, 2013, 06:59:59 AM

Looks like a flag forming. Don't know which way it will break.... originally thought up to 96 after another oscillation down, but this rally has me nervous. Didn't reach my target but happy to take profits at 89.

All out, now dump please. Grin

Depends on the chart. The daily chart looks to be topping or reversing.
The one and four hour chart looks to be some type of flag continuation pattern, meaning up...

IAS

Its About Sharing

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Antifragile

Quote from: crumbs on July 11, 2013, 06:43:59 AM

Yesterday taught me just *how* pathetic my attempts at reading the Bitcoin market are, and *how* irrelevant both TA & common sense are to this market.
Trying a new strategy today. Got me some black candles burning on both sides of the monitor, crayons for drawing pentagrams & magikal symbolz, got The Lord's Prayer queued up to loop backwards in Pro Tools. As soon as my cat learns to arch his back & hiss at the chart, i'll be set for a new day of trading Angry

Every few posts I mention that when doing TA with BTC anything is possible. Don't feel bad.
Had that huge buyer not come this rally would have been much shorter and not as high.

Really dangerous just using TA as their are some big pocketed guys here.

That said, they seem to use the entry/exit points we are following, but the violence of the moves are magnified.

I stayed out on this bounce up as I didn't want to chance a big seller dumping at 68 ish... (Bad call on my part)

Ivanhoe

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Quote from: molecular on July 11, 2013, 09:29:20 AM

Quote from: Ivanhoe on July 11, 2013, 09:18:25 AM

Quote from: molecular on July 09, 2013, 07:15:06 AM

Quote from: Ivanhoe on July 09, 2013, 06:50:13 AM

Some Tuesdays have proven to be interesting in the past, let's see what today brings. Laying on the beach with a cocktail watching how this wall at 80 gets eaten, could become a nice day Grin

Wall at 80 getting eating? We haven't touched 80 on gox since 26 hours.

What kind of cocktail are we talking about?

Turned out to be alcohol-free;)

that leaves even more questions. ;-)

Haha, touché. Cheesy

molecular

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Quote from: Ivanhoe on July 11, 2013, 09:18:25 AM

Quote from: molecular on July 09, 2013, 07:15:06 AM

Quote from: Ivanhoe on July 09, 2013, 06:50:13 AM

Some Tuesdays have proven to be interesting in the past, let's see what today brings. Laying on the beach with a cocktail watching how this wall at 80 gets eaten, could become a nice day Grin

Wall at 80 getting eating? We haven't touched 80 on gox since 26 hours.

What kind of cocktail are we talking about?

Turned out to be alcohol-free;)

that leaves even more questions. ;-)

Ivanhoe

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Quote from: molecular on July 09, 2013, 07:15:06 AM

Quote from: Ivanhoe on July 09, 2013, 06:50:13 AM

Some Tuesdays have proven to be interesting in the past, let's see what today brings. Laying on the beach with a cocktail watching how this wall at 80 gets eaten, could become a nice day Grin

Wall at 80 getting eating? We haven't touched 80 on gox since 26 hours.

What kind of cocktail are we talking about?

Turned out to be alcohol-free;)

Loozik

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Born to chew bubble gum and kick ass

Quote from: ft73 on July 11, 2013, 06:48:55 AM

Waiting for $84.

Some scenarios. I wouldn't speculate on how probable they are at the moment.

Blue = triangle
Red = flag

It is possible Mrs Market will do something else.

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