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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33373. (Read 26497601 times)

legendary
Activity: 1148
Merit: 1018
If the US Government does, we'll see sub 50 in the long term.

$50 it's a lot if you consider that we were at $20 at the end of January.

Anyhow, long term you will see at least 4 figures unless a superior, decentralized and trust-free crypto is developed, or a fatal vulnerability is exposed - regardless of what the US Government decides to do.

There are only 21 millions, did you know?

 Grin  This is that newbie investor thinking that just because something is rare, it's automatically going to be valuable.  

Case in point: you.

Actually you're wrong.  I base Bitcoins value on the markets and what people are willing to pay for them.  The total in circulation is irrelevant to me.   

Maybe you have some trouble to grasp the concept of very scarce a non-inflatable currency.
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
If the US Government does, we'll see sub 50 in the long term.

$50 it's a lot if you consider that we were at $20 at the end of January.

Anyhow, long term you will see at least 4 figures unless a superior, decentralized and trust-free crypto is developed, or a fatal vulnerability is exposed - regardless of what the US Government decides to do.

There are only 21 millions, did you know?

 Grin  This is that newbie investor thinking that just because something is rare, it's automatically going to be valuable.  

Case in point: you.

Actually you're wrong.  I base Bitcoins value on the markets and what people are willing to pay for them.  The total in circulation is irrelevant to me.  

You misunderstand me. I mean the total number of YOU in supply is low! :p
sr. member
Activity: 252
Merit: 250
If the US Government does, we'll see sub 50 in the long term.

$50 it's a lot if you consider that we were at $20 at the end of January.

Anyhow, long term you will see at least 4 figures unless a superior, decentralized and trust-free crypto is developed, or a fatal vulnerability is exposed - regardless of what the US Government decides to do.

There are only 21 millions, did you know?

 Grin  This is that newbie investor thinking that just because something is rare, it's automatically going to be valuable.  

Case in point: you.

Actually you're wrong.  I base Bitcoins value on the markets and what people are willing to pay for them.  The total in circulation is irrelevant to me.   
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
If the US Government does, we'll see sub 50 in the long term.

$50 it's a lot if you consider that we were at $20 at the end of January.

Anyhow, long term you will see at least 4 figures unless a superior, decentralized and trust-free crypto is developed, or a fatal vulnerability is exposed - regardless of what the US Government decides to do.

There are only 21 millions, did you know?

 Grin  This is that newbie investor thinking that just because something is rare, it's automatically going to be valuable.  

Case in point: you.
sr. member
Activity: 252
Merit: 250
If the US Government does, we'll see sub 50 in the long term.

$50 it's a lot if you consider that we were at $20 at the end of January.

Anyhow, long term you will see at least 4 figures unless a superior, decentralized and trust-free crypto is developed, or a fatal vulnerability is exposed - regardless of what the US Government decides to do.

There are only 21 millions, did you know?

 Grin  This is that newbie investor thinking that just because something is rare, it's automatically going to be valuable.  
legendary
Activity: 2352
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 350
Merit: 250
"Don't go in the trollbox, trollbox, trollbox"
Finland/Canada et al. are very small players compared to the US Government in regard to what kind of black swan event you'll see during an assault. If Finland or Canada assaults BTC maybe you'll see someone sell 10k coins and it will blow over like Dwolla. If the US Government does, we'll see sub 50 in the long term.

Also, they say they're fine with it today. When it's a considerably more obvious threat to the position of lobbyists, expect the position to do a total 180.

The divorce is happening and Bitcoin will go on to find love eventually. Just...not with the dollar!
legendary
Activity: 1148
Merit: 1018
If the US Government does, we'll see sub 50 in the long term.

$50 it's a lot if you consider that we were at $20 at the end of January.

Anyhow, long term you will see at least 4 figures unless a superior, decentralized and trust-free crypto is developed, or a fatal vulnerability is exposed - regardless of what the US Government decides to do.

There are only 21 millions, did you know?
member
Activity: 84
Merit: 10
Finland/Canada et al. are very small players compared to the US Government in regard to what kind of black swan event you'll see during an assault. If Finland or Canada assaults BTC maybe you'll see someone sell 10k coins and it will blow over like Dwolla. If the US Government does, we'll see sub 50 in the long term.

Also, they say they're fine with it today. When it's a considerably more obvious threat to the position of lobbyists, expect the position to do a total 180.
legendary
Activity: 2352
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1148
Merit: 1018
Topping google news:

Bitcoin being amalgamated to Liberty Reserve story:

"A top Bitcoin exchange, Tokyo-based Mt. Gox, failed to register with FinCEN earlier this month and had its U.S. dollar accounts seized by authorities.

Over the past week, a Bitcoin unit has traded at around $130, according to the website Bitcoincharts.com."
 

http://www.reuters.com/article/2013/05/28/net-us-cybercrime-libertyreserve-charges-idUSBRE94R0KQ20130528



It's a joke how they mixed MtGox with the Liberty Reserve thing.

MtGox is very thorough in verifying the identity of its users, LR wasn't. Gox may be amateurish, but they really try to comply with AML regulation, the verification queue was huge at one point and they reject applications because of silly misspellings on the utility bill. And all the apostille and notarization crap you need for "trusted" status.

Yeah, they failed to register to FinCEN, probably because they underestimated the outcome because the project grew too big too fast for them to scale and get somebody competent and experienced on board.

About time.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
http://blog.bitpay.com/2012/09/bitpay-exceeds-1000-merchants-accepting.html

Quote
As a result of the secretary of the Central Bank of Finland publicizing that bitcoin is legal to use in Finland, many businesses have seized the opportunity to accept bitcoin. Some of the rather unique merchants in Finland include a dentist office, a veggieburger restaurant chain, and a funeral service.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
member
Activity: 84
Merit: 10
governments have already come out and said bitcoin was ok

No.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner

so far the US government team america world police has reacted well, I don't think they will outright outlaw bitcoin or else the news from FINCEN and Homeland security would have had a different tone. all they seem to care about is regulating the cash flow in and out of bitcoin, its more then likely this is all they will ever do. Other governments have reacted with much more open arms, a few months ago finland government said bitcoin is A OK and not subject to regulation, the canadian government recently came out and said the same thing.


Thinking that the Government is okay with Bitcoin is not very wise. The only reason that Bitcoin is a high risk investment, in my opinion, is the huge risk of getting black swaned by authorities at one point or another. As Bitcoin grows more and more popular it will attract more and more attention from lobbyists. Lobbyists pay politicians in exchange for laws in favour of their position being passed.

Dreams of $1,000/BTC coming to fruition are totally in vain if Bitcoin can't establish itself in the cultural mainstream. Those who control society will simply suffocate the exchange of fiat for BTC if that condition can't be met, and Bitcoin will never, ever become a standalone currency without going through a period wherein its value is established in relation to fiat for the simple reason that you can't live on BTC itself right now or any point in the short/medium future.

governments have already come out and said bitcoin was ok
legendary
Activity: 1106
Merit: 1001
US Government making a move on Bitcoin is inevitable. The telegraphing thereof has already begun. Bitcoin has to survive the tribulation if it wants global adoption. If it doesn't survive, it'll fall into obscurity or be marginalized.



Sadly, I belive this too. Bitcoin have to survive this and become accepted by the common man and the governments . Otherwise all you can do with it is buy weed. Iwant to be able to buy a car with my coins someday.   

www.bitpremier.com

So , you would buy a 200k Mercedes from a website hosted on a shared hosting , with a domain purchased via Domainsbyproxy?



No, I'd buy a 200k Mercedes from someone who is selling a 200k Mercedes. How I find them and how they find me... that's almost incidental.
legendary
Activity: 1148
Merit: 1018
US Government making a move on Bitcoin is inevitable. The telegraphing thereof has already begun. Bitcoin has to survive the tribulation if it wants global adoption. If it doesn't survive, it'll fall into obscurity or be marginalized.



Sadly, I belive this too. Bitcoin have to survive this and become accepted by the common man and the governments . Otherwise all you can do with it is buy weed. Iwant to be able to buy a car with my coins someday.  

You need to understand that Bitcoin is a game changer. It's a challenge and possibly a threat for to the "status quo" of the most powerful people in the world: the ones controlling monetary supply.

Bitcoin being banned by Governments at some point is a possibility predicted from the very beginning. And that's why Satoshi is a pseudonym and he/they used Tor all the time,  working hard to totally conceal his/their real identity. And it's also one of the many reasons why you do not invest in it what you cannot afford to lose.

That said, we should assume clever people is advising government. And banning Bitcoin is bad advice, because it will very likely make it stronger on the long term - because it is designed with that in mind.

It may be most effective to them to regulate it as much as they can, trying to control it, even by owning as much hash rate as possible. And if they finally decide that it's a lethal threat to the current financial system, it may be more effective for their interests to pump and crash the market at will.

But at the end of the day, there is no easy or obvious way to get rid of Bitcoin, unless the whole Internet is taken down.

 Grin
legendary
Activity: 1414
Merit: 1000
Topping google news:

Bitcoin being amalgamated to Liberty Reserve story:

"A top Bitcoin exchange, Tokyo-based Mt. Gox, failed to register with FinCEN earlier this month and had its U.S. dollar accounts seized by authorities.

Over the past week, a Bitcoin unit has traded at around $130, according to the website Bitcoincharts.com."
 

http://www.reuters.com/article/2013/05/28/net-us-cybercrime-libertyreserve-charges-idUSBRE94R0KQ20130528



It is time to develop p2p exchange (shared order book) and using WebMoney or OKPay  for p2p fiat transfers. (maybe google wallet too)

OKPay?  You are kidding.  They won't do Bitcoin transactions and they are a nightmare to get money out of.

We need fiat escrow service (some confirmation than money was send. There is not problem with bitcoin because we have block chain and everybody can see if coins was send. And it is easy to build "open source escrow bot" watching block chain. ).
full member
Activity: 133
Merit: 100

So , you would buy a 200k Mercedes from a website hosted on a shared hosting , with a domain purchased via Domainsbyproxy?


It is probably as safe as craigslist Wink
hero member
Activity: 826
Merit: 501
in defi we trust
US Government making a move on Bitcoin is inevitable. The telegraphing thereof has already begun. Bitcoin has to survive the tribulation if it wants global adoption. If it doesn't survive, it'll fall into obscurity or be marginalized.



Sadly, I belive this too. Bitcoin have to survive this and become accepted by the common man and the governments . Otherwise all you can do with it is buy weed. Iwant to be able to buy a car with my coins someday.   

www.bitpremier.com

So , you would buy a 200k Mercedes from a website hosted on a shared hosting , with a domain purchased via Domainsbyproxy?

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