Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33037.

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: lebing on June 09, 2013, 02:15:58 PM

2 examples:

1. Someone in nigeria wants to buy an upgrade to their wordpress account. No other way to do that than with bitcoin.
2. Someone wants to send value across the world in less than an hour... they use bitcoin to do that.

But your question is erroneous. There is no need for it to function in such an exclusive way at this point in the lifecycle. It's simply the latent functionality which will, if continued on its current course be for superior to the existing system. It's like comparing Usain Bolt as a toddler to and adult Chris Farley in a 100m dash. You know Chris Farley will win in the short term, but in the long term? Nope.

And how will he get those bitcoins in Nigeria?

marvinrouge

sr. member

Activity: 378

Merit: 250

Quote from: Abandon on June 09, 2013, 02:18:22 PM

Frozenlock

sr. member

Activity: 434

Merit: 250

Rebound steam exhausted?

We are losing speed...

Abandon

member

Activity: 112

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lebing

legendary

Activity: 1288

Merit: 1000

Enabling the maximal migration

Quote from: lucas.sev on June 09, 2013, 12:16:31 PM

Quote from: lebing on June 09, 2013, 11:53:29 AM

....

I would like to hear you undermine this claim of mine:

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public.

2 examples:

1. Someone in nigeria wants to buy an upgrade to their wordpress account. No other way to do that than with bitcoin.
2. Someone wants to send value across the world in less than an hour... they use bitcoin to do that.

But your question is erroneous. There is no need for it to function in such an exclusive way at this point in the lifecycle. It's simply the latent functionality which will, if continued on its current course be for superior to the existing system. It's like comparing Usain Bolt as a toddler to and adult Chris Farley in a 100m dash. You know Chris Farley will win in the short term, but in the long term? Nope.

gandhibt

full member

Activity: 238

Merit: 100

Quote from: Rampion on June 09, 2013, 01:19:41 PM

Quote from: N12 on June 09, 2013, 01:06:57 PM

Quote from: Rampion on June 09, 2013, 01:02:27 PM

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

Are you going for some more ASICs or are you just looking to buy lower? I thought you never wanted to sell precious BTC to speculate. Tongue

I sold a big amount (approx. 40% of my holdings) for the ASIC's. That happened on Monday at $118ish. Today I sold a similar chunk, and this is for speculation. Yeah, you are right that I always preach about not selling the precious coins. But still, this is one of those occasions were I cannot miss the opportunity for cheaper coins. One thing is to speculate to catch the bottom of the weekly dip, which I don't do, and a very different one is to hold on all your coins desperately during a bubble deflation.

Still, I a have paper wallet I'll never touch. I cannot be 100% out of BTC, I'm not mentally prepared for that

Can you repeat the facts that lead to your decision to sell now? Just with dashes would be great, thanks!

ChartBuddy

legendary

Activity: 2268

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: ?? on ??

Quote from: N12 on June 09, 2013, 01:33:34 PM

You know, speaking of supernodes, it's kind of a pity reptilia isn't here to provide us with entertainment as to why we aren't making any progress to his 300k USD before Christmas.

BTW, does anybody have that epileptic black/white bear gif? It was a whole bunch of bears. This is important. Grin

I just found this, that's cool too:

https://i.imgur.com/YMeG4sX.gif

Not sure if you are careless or ignorant, but you might want to post a warning that these sorts of pictures can cause seizure.

http://en.wikipedia.org/wiki/Photosensitive_epilepsy

Also called Pokemon Shock

Abandon

member

Activity: 112

Merit: 10

Supports & Resistances:

wonkytonky

sr. member

Activity: 411

Merit: 250

Quote from: niothor on June 09, 2013, 11:49:27 AM

Quote from: N12 on June 09, 2013, 11:29:46 AM

Exactly right. Bitcoin has never been a billion dollar market in the first place. The figures most people are touting from Bitpay are hugely inflated because of mining equipment, and the evidence like data on sales of Humble Bundle, Reddit Gold and bitcoinstore suggest that people don't use Bitcoin as a currency in any significant way.

We'll I will quote this every single time I try to make my point.
I'll let you have some part of the treatment I got when saying nobody is using it except .....

my friends are using bitcoin.. umong them selves and other friends

for example: 1 come and help a day with painting my friends house.. .. i get a bitcoin from my friend for the work..

now .. this is slowly spreading .to friends of friends.. and so on.

it's a start isnt it? Wink

facebook became popular the same way.

strawbs

legendary

Activity: 868

Merit: 1340

Woh, thanks for the pre-bedtime epilepsy attack Shocked

N12

donator

Activity: 1610

Merit: 1010

You know, speaking of supernodes, it's kind of a pity reptilia isn't here to provide us with entertainment as to why we aren't making any progress to his 300k USD before Christmas.

BTW, does anybody have that epileptic black/white bear gif? It was a whole bunch of bears. This is important. Grin

I just found this, that's cool too:

Epilepsy warning https://i.imgur.com/YMeG4sX.gif

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: N12 on June 09, 2013, 01:06:57 PM

Quote from: Rampion on June 09, 2013, 01:02:27 PM

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

Are you going for some more ASICs or are you just looking to buy lower? I thought you never wanted to sell precious BTC to speculate. Tongue

I sold a big amount (approx. 40% of my holdings) for the ASIC's. That happened on Monday at $118ish. Today I sold a similar chunk, and this is for speculation. Yeah, you are right that I always preach about not selling the precious coins. But still, this is one of those occasions were I cannot miss the opportunity for cheaper coins. One thing is to speculate to catch the bottom of the weekly dip, which I don't do, and a very different one is to hold on all your coins desperately during a bubble deflation.

Still, I a have paper wallet I'll never touch. I cannot be 100% out of BTC, I'm not mentally prepared for that

samson

legendary

Activity: 2097

Merit: 1070

Quote from: Rampion on June 09, 2013, 01:02:27 PM

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

+1 I'll load up at $50 as well as I expect quite a bounce from there before it drops into the $30's

N12

donator

Activity: 1610

Merit: 1010

Quote from: Rampion on June 09, 2013, 01:02:27 PM

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

Are you going for some more ASICs or are you just looking to buy lower? I thought you never wanted to sell precious BTC to speculate. Tongue

wonkytonky

sr. member

Activity: 411

Merit: 250

Quote from: Rampion on June 09, 2013, 01:02:27 PM

I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

shhtt

rezurect

sr. member

Activity: 686

Merit: 250

Rampion

legendary

Activity: 1148

Merit: 1018

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

Edit: it hurts to sell coins, those paper wallets really looked at me with sad eyes, but at the end of the day the purpose is for them to be replenished ASAP with more coins they holded now.

I'm now a lonely bear with only 20% of the BTC holdings I had a couple of weeks ago, at least I can comfort myself thinking that I'm still a supernode, of the lowest grade, but still a supernode at the end of the day Grin

ChartBuddy

legendary

Activity: 2268

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

crumbs

full member

Activity: 210

Merit: 100

Goin' UP?

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