Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32742. (Read 26469314 times)
July 04, 2013, 03:44:48 PM
I find it really hard to predict the top of these seemingly artificial long steady bull trap rises. Only telling factor I can think of is they'll keep going until the bid depth fills up enough to be worthwhile for a big dumper. Any other factors which may help estimate this?
July 04, 2013, 03:39:59 PM
In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).
Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).
Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?
I think volatility is indeed a big concern in developing countries, especially for the poor classes, plus the fact that they are in general probably less ingrained in the digital world.
On the other hand, bypassing big infrastructure needs and probably less concern about financial regulations could make bitcoin very successful there.
It would not be nice if millions of 3rd world people couldn't afford to buy enough food to survive because Jaroslaw decided to dump his 100k's of coins on the market.
July 04, 2013, 03:36:26 PM
In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).
Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).
Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?
I think volatility is indeed a big concern in developing countries, especially for the poor classes, plus the fact that they are in general probably less ingrained in the digital world.
On the other hand, bypassing big infrastructure needs and probably less concern about financial regulations could make bitcoin very successful there.
It would not be nice if millions of 3rd world people couldn't afford to buy enough food to survive because Jaroslaw decided to dump his 100k's of coins on the market.
July 04, 2013, 03:35:27 PM
"M-PESA now has 10.5 million active users."
http://www.thinkm-pesa.com/2013/05/latest-m-pesa-statistics.html
they are not m-pesa r they?
http://www.thinkm-pesa.com/2013/05/latest-m-pesa-statistics.html
they are not m-pesa r they?
July 04, 2013, 03:19:29 PM
In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).
Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).
Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?
I think volatility is indeed a big concern in developing countries, especially for the poor classes, plus the fact that they are in general probably less ingrained in the digital world.
On the other hand, bypassing big infrastructure needs and probably less concern about financial regulations could make bitcoin very successful there.
July 04, 2013, 03:17:29 PM
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
interesting
interesting
Wow, big news!
Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.
In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.
most of us see btc from the 1st-world-perspective. it could be a good tool for such countries in many matters in the future, for example as a currency within a microcredit-system.
July 04, 2013, 03:15:34 PM
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
interesting
interesting
Wow, big news!
Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.
In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.
In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).
Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?
IAS
Completely agree on the killer app. Right now, the only killer app of Bitcoin is Silk Road. It's genius, but more are needed to reach a next level.
July 04, 2013, 03:13:22 PM
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
interesting
interesting
Wow, big news!
Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.
In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.
In a sense we need a killer app of some type. This could be the start at least in another country. We only need things to start taking off in one location and then the organic nature of BTC (, developers and the VC's) can take over.
My concern though, with something like this is the volatility of BTC. That is not a problem if you are using Bitpay or the like, but for BTC to work in these countries I would think there needs to
be some form of stability, UNLESS the inflation rate there is more risky than BTC (e.g. - Argentina).
Can you imagine if this "app" takes off AFTER we correct and people in poor nations are locked into something deflationary and rising quite steadily in price?
IAS
July 04, 2013, 03:09:02 PM
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
interesting
interesting
Wow, big news!
Very very cool. I'd like to see how this plays out. Many have said it will be in the 2nd and 3rd world nations where BTC gets traction first.
In my opinion this kind of news is extremely interesting, and while it's neglected by many, its potentially more bullish than any ETF. Underdeveloped counties can play a fundamental role in future currencies and stores of value.
Edit: I agree lately we have only good news. As I like to say: Bitcoin is stronger than ever. But there is still a long way to go (should I remind you that the exchange that controls most of the market is "Magic The Gathering Online Exchange"?
), and the actual prices were shaken that a speculative bubble that popped. Now is time for speculators to take their profits (or cut their losses), and thus for the hype and price to go down, while serious infrastructure is built and important things happen at a "real economy" pace. 
July 04, 2013, 03:00:56 PM
July 04, 2013, 02:57:57 PM
It will be interesting to see how the US will react to the good news from MtGox. Up or Down? We will find out in about an hour from now. 
I bet there will be fireworks. Lots of fireworks. And parades.
Pretty much, anyone who holds a hoard of BTC already sold or is out partying. As a British citizen in Texas, I don't know what the hell I will do today. Probably sleep because I was up all night again
Fireworks cancelled due to rain here. And flash flood warnings. Might be a good night to go canoeing.
July 04, 2013, 02:48:49 PM
Not perfect (missing a bit on the second candle) but this does look like a symmetrical triangle coming off clear down movement. Am I reaching?
(Then again you can have the triangle, albeit small, start 2 candles later. To complete we need to hit 81 or so and then move back down next candle over.)
This is a 4 hour chart so the outcome should be later today or by tomorrow.
(Then again you can have the triangle, albeit small, start 2 candles later. To complete we need to hit 81 or so and then move back down next candle over.)
This is a 4 hour chart so the outcome should be later today or by tomorrow.
July 04, 2013, 02:48:22 PM
offtopic: http://kipochi.com/
July 04, 2013, 02:42:45 PM
I don't see a trend reversal, not even short term. Only the most fine-grained of the indicators I look at saw a swing in the other direction, everything else indicates we're going down further, or are at least not about to go up rapidly, within the next 24h.
I am however mildly nervous because my gut feeling tells me that recent news (Bitcoin ETF, mtgox press release re: wire transfers) are comparably positive, and we've reached a price level that, say, 4 weeks ago would have had people salivating. In other words, I don't trust this downtrend.
I am however mildly nervous because my gut feeling tells me that recent news (Bitcoin ETF, mtgox press release re: wire transfers) are comparably positive, and we've reached a price level that, say, 4 weeks ago would have had people salivating. In other words, I don't trust this downtrend.
The ETF may or may not happen. They filed the paperwork. It will be months before we know. It could help add exposure to BTC though and that is great. In and of itself it is not much.
The MtGox release is NOT good news. They are essentially saying "We almost got our problem resolved. Things will still be slow for a while until we catch up." It is not good news to just function as expected.
Good news will be in a few weeks when they have the new trade engine. But LTC is being released around then (perhaps) so we'll see the effect.
Not to be a downer but just calling it like it is.
You can turn it any way you want, those *are* good news. Maybe you're sceptical about them, but for those who trade on mtgox, this press release is almost certainly better news than the previous where they announced they'd stop (automatically) processing them.
Similar with the ETF. Sure, might take a while before it becomes reality, maybe it'll never do... that's not the point I made in my post however: I recognized we're in a downtrend, but that I'm somewhat nervous because of the relatively good news recently, and that I recognize the possibility that it might turn around soon. Nitpicking about the *exact* quality of goodness of the news doesn't influence that argument, in my opinion.
I'm not trying to turn anything. MtGox is almost back to functional regarding outgoing wires. Do you understand that the initial announcement cause a boost in BTC price as it was the only way for those affected to get money off Gox? I think Gox has done a lot for the BTC community and I know being #1 comes with costs.
The ETF thing can be a good way to hedge bets but I think it is must for large investors. Who does it benefit? I mean to buy Gold ETF's make sense, but bitcoin is already digital. It is pretty easy to buy as well. It seems the ETF, at least so far, benefits the twins and not so much BTC (though like I said it is advertising but I have a feeling that is not why the twins did it.)
I'm a huge long term BTC Bull, just in case you get the wrong idea. But I don't see either of these things as great news. Just my opinion (and so far the market seems to agree, but only so far...)
Oh, I'm not nitpicking about the news, I just pretty much disagree with you.
The Kipochi announcement above I think is really exciting and potentially great news.
July 04, 2013, 02:34:55 PM
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
interesting
interesting
This is indeed very big. It's exactly what we were looking for, to get into the same market as MPESA. Thanks for the share.
July 04, 2013, 02:20:42 PM
I don't see a trend reversal, not even short term. Only the most fine-grained of the indicators I look at saw a swing in the other direction, everything else indicates we're going down further, or are at least not about to go up rapidly, within the next 24h.
I am however mildly nervous because my gut feeling tells me that recent news (Bitcoin ETF, mtgox press release re: wire transfers) are comparably positive, and we've reached a price level that, say, 4 weeks ago would have had people salivating. In other words, I don't trust this downtrend.
I am however mildly nervous because my gut feeling tells me that recent news (Bitcoin ETF, mtgox press release re: wire transfers) are comparably positive, and we've reached a price level that, say, 4 weeks ago would have had people salivating. In other words, I don't trust this downtrend.
The ETF may or may not happen. They filed the paperwork. It will be months before we know. It could help add exposure to BTC though and that is great. In and of itself it is not much.
The MtGox release is NOT good news. They are essentially saying "We almost got our problem resolved. Things will still be slow for a while until we catch up." It is not good news to just function as expected.
Good news will be in a few weeks when they have the new trade engine. But LTC is being released around then (perhaps) so we'll see the effect.
Not to be a downer but just calling it like it is.
You can turn it any way you want, those *are* good news. Maybe you're sceptical about them, but for those who trade on mtgox, this press release is almost certainly better news than the previous where they announced they'd stop (automatically) processing them.
Similar with the ETF. Sure, might take a while before it becomes reality, maybe it'll never do... that's not the point I made in my post however: I recognized we're in a downtrend, but that I'm somewhat nervous because of the relatively good news recently, and that I recognize the possibility that it might turn around soon. Nitpicking about the *exact* quality of goodness of the news doesn't influence that argument, in my opinion.
July 04, 2013, 02:14:26 PM
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
interesting
interesting
doesn't quite fit the subject, but however i have to throw in that article
as it's a very interesting read about Hawala - an old method for trading money (that roots back to the eighth century)
http://mkshft.org/2013/07/thin-wire
Imagine entities that wished to move large value assets over borders without declaration or taxation. They convert it to bitcoin from A then sell it in B. If the local bitcoin market place becomes robust enough, this could be performed at a cloud type level.
that's still the big question mark for me how authorities would react if this becomes more common.
right now authorities in europe try to get more hold of tax evasion (like in suisse, luxembourg or liechtenstein). at some point btc will be adapted for such procedures when people need new possiblities for avoiding taxes or laundering money .
July 04, 2013, 02:09:19 PM
I think he meant 180 m$
July 04, 2013, 02:00:49 PM
July 04, 2013, 01:48:22 PM
I don't see a trend reversal, not even short term. Only the most fine-grained of the indicators I look at saw a swing in the other direction, everything else indicates we're going down further, or are at least not about to go up rapidly, within the next 24h.
I am however mildly nervous because my gut feeling tells me that recent news (Bitcoin ETF, mtgox press release re: wire transfers) are comparably positive, and we've reached a price level that, say, 4 weeks ago would have had people salivating. In other words, I don't trust this downtrend.
I am however mildly nervous because my gut feeling tells me that recent news (Bitcoin ETF, mtgox press release re: wire transfers) are comparably positive, and we've reached a price level that, say, 4 weeks ago would have had people salivating. In other words, I don't trust this downtrend.
the news is pretty awesome recently. not only mtgox, etf, but also german taxation clarification, the m-pesa bitcoin client I just mentioned, visa/mastercard banning VPN providers, flattr adding bitcoin as funding option,...
these are substantial news, too, in the sense that they will actually effect an increase of use of Bitcoin (what everybody is demanding: we need to grow the bitcoin economy) and also an increase in exposure.
based on that a bull can hope.
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