Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33219.

N12

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I said "in some other variation". Similar things could occur with the Bitcoin client network (see blocksize limit) for instance.

Also, while MtGox is throwing over a little crumbs for the other exchanges, I don't see it losing its status as #1 exchange anytime soon. In 2011, Tradehill popped up and took some of MtGox's market share. Tradehill vanished. A couple other exchanges that were highest in volume following MtGox got hacked or closed due to legal trouble this year.

It's too bad, but there is no singularity in Bitcoin infrastructure and it will be a limiting factor for quite some time.

Anyway, we should settle it and maybe one of us will remember the 300k USD prediction in December 2013 and laugh at the other. Grin

adamstgBit

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bears might have a shot at winning this battle if they come together and start dumping now the FUD won't last much longer...

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

bobdude17

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Quote from: N12 on May 25, 2013, 03:32:19 PM

Here's a bottleneck for you "singularity" guys that ultimately limits the height of parabolic rises: Infrastructure. Remember when MtGox had an order queue of up to 75 minutes filled with market sells? Think this can't happen again in some other variation? Think again.

Infrastructure? What makes you think that MtGox past troubles in coping with demand will having anything to do with the patterns of future adoption? Roll Eyes

This was when Bitcoin had a central point that could be swamped like that. We are already seeing that change, we are already seeing the infratstructure rise, and it will only start coming faster. New exchanges popping up, many only in beta, and of course OpenTransactions stands to change the whole game. Infrastructure will rise to meet the demand much faster than you think because there is so much profit potential.
You underestimate the power(and speed) of hype, greed, competition, and logical thinking when applied to a digital free market with sound foundations.
Rome wasn't built in a day because they had to lug around rocks.

Kazu

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I think of Bitcoin as a sort of future. The pricing will always be ahead of actual adoption rates, because if people expect there to be more adoption in a month from now, people will expect the price to be higher a month from now, so they will buy bitcoins now to profit a month from now, driving the price up now.

zemario

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Quote from: N12 on May 25, 2013, 03:32:19 PM

Here's a bottleneck for you "singularity" guys that ultimately limits the height of parabolic rises: Infrastructure. Remember when MtGox had an order queue of up to 75 minutes filled with market sells? Think this can't happen again in some other variation? Think again.

Spot on. However... a solid infrastructure can ( must? ) be built on top a large ecosystem of users. Traders are kind of meta-users, if adoption starts to spread, then trading it's just there in it's corner and it's no biggie if Gox or whatever market is down.
It worries me to a certain degree that there doesn't appear to be a steady growth of services and stores accepting bitcoins.

awakening

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Quote from: N12 on May 25, 2013, 03:32:19 PM

And who is to say this might not happen again, but for instance with "Bitcoin is illegal and it's dead"? Remember that those sentiments only are created once the price has already fallen for a longer time. Bitcoin was only declared dead by Wired near its very bottom at 2.

I'm willing to bet that we are going to see 4 digits within a few years, but boy, do most of the newcomers here have unrealistic expectations.

Here's a bottleneck for you "singularity" guys that ultimately limits the height of parabolic rises: Infrastructure. Remember when MtGox had an order queue of up to 75 minutes filled with market sells? Think this can't happen again in some other variation? Think again.

Fucking right. Grin

N12

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And who is to say this might not happen again, but for instance with "Bitcoin is illegal and it's dead"? Remember that those sentiments only are created once the price has already fallen for a longer time. Bitcoin was only declared dead by Wired near its very bottom at 2.

I'm willing to bet that we are going to see 4 digits within a few years, but boy, do most of the newcomers here have unrealistic expectations.

Here's a bottleneck for you "singularity" guys that ultimately limits the height of parabolic rises: Infrastructure. Remember when MtGox had an order queue of up to 75 minutes filled with market sells? Think this can't happen again in some other variation? Think again.

adamstgBit

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Quote from: N12 on May 25, 2013, 03:23:00 PM

Quote from: bobdude17 on May 25, 2013, 03:16:05 PM

BMOT just created. VC's throwing in money. We have seen the rise of speculative interest go all the way to $266, wait 'till you see demand. Christmas 2013? 7 months? In Bitcoin time? Please.

Can you tell me where this "Bitcoin time" was when the price topped out June 2011 for nearly 2 years and lost ~94% of its value within 5 months? Sure sure, we will go way beyond 300k USD by Christmas 2013.

Date Registered: 10-04-2013, 11:37:30

Oh, that explains it.

in 2011 you'd go around and ask people about bitcoin on forums and stuff, and anyone that heard about it was convinced it was hacked and it was dead.

also trying to explain to someone ( avg joe ) the situation was not easy, even if they could be made to understand that it was a service that was hacked and not bitcoin itself, they had 0 faith that bitcoin would not work because of the central points of failure.

please though i was stupid for buying at the first sign of recovery. " your stupid for not having sold them at 32, sell them now they will worthless "

N12

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Quote from: bobdude17 on May 25, 2013, 03:16:05 PM

BMOT just created. VC's throwing in money. We have seen the rise of speculative interest go all the way to $266, wait 'till you see demand. Christmas 2013? 7 months? In Bitcoin time? Please.

Can you tell me where this "Bitcoin time" was when the price topped out June 2011 for nearly 2 years and lost ~94% of its value within 5 months? Sure sure, we will go way beyond 300k USD by Christmas 2013.

Date Registered: 10-04-2013, 11:37:30

Oh, that explains it.

bobdude17

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Quote from: gizmoh on May 25, 2013, 02:04:23 PM

Quote from: bobdude17 on May 25, 2013, 01:45:06 PM

Quote from: Nightowlace on May 25, 2013, 12:56:49 PM

Guys are you forgetting, we will be at $300,000 by December Roll Eyes

We will.

per mbtc, it is feasible..

BMOT just created. VC's throwing in money. We have seen the rise of speculative interest go all the way to $266, wait 'till you see demand. Christmas 2013? 7 months? In Bitcoin time? Please.

adamstgBit

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Quote from: fr33d0miz3r on May 25, 2013, 03:03:52 PM

Quote from: adamstgBit on May 25, 2013, 03:01:01 PM

chart buddy broken Cry

ChartBuddy is seized by the US government

lets file a class action lawsuit, for mass emotional distress

fr33d0miz3r

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Quote from: adamstgBit on May 25, 2013, 03:01:01 PM

chart buddy broken Cry

ChartBuddy is seized by the US government

adamstgBit

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chart buddy broken Cry

ChartBuddy

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adamstgBit

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Quote from: phatsphere on May 25, 2013, 02:37:59 PM

Quote from: molecular on May 25, 2013, 02:09:33 PM

(disclaimer: I'm ultrabull, non-hospitalized)

LOL! it's so typical for this thread, that one has to add this disclaimer and it's not even an exaggeration :-p

(disclaimer: I'm ultrabull, non-hospitalized)

(disclaimer: I'm ultrabull, stopped taking my meds 6 years ago.)

phatsphere

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Quote from: molecular on May 25, 2013, 02:09:33 PM

(disclaimer: I'm ultrabull, non-hospitalized)

LOL! it's so typical for this thread, that one has to add this disclaimer and it's not even an exaggeration :-p

(disclaimer: I'm ultrabull, non-hospitalized)

fitty

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CryptoTalk.Org - Get Paid for every Post!

Quote from: Pzi4nk on May 25, 2013, 02:29:13 PM

Mt Gox down Angry

Working for me too.

Rampion

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Quote from: Pzi4nk on May 25, 2013, 02:29:13 PM

Mt Gox down Angry

It's working on my end.

Pzi4nk

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Move over clarinets, I'm getting on the band wagon

Mt Gox down Angry

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33219. (Read 26464162 times)