Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33577. (Read 26494431 times)
May 11, 2013, 03:02:36 PM
May 11, 2013, 03:00:51 PM
it only takes a few dictators to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.
Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power. If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.
So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.
Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power. If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.
So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.
That is the worst advert I ever heard for Bitcoin
"Roll up, roll up, profit from dictatorship here!"
I would rather be poor in your terms
May 11, 2013, 02:59:20 PM
Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults. Faith is necessary I get that but some of this stuff is just craziness. The more I read these forums, the shorter Bitcoins lifespan becomes to me. I''m currently at 2 years tops. That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
what I'd like to know is as infrastructure does develop, who of the early adopters holding larger amounts of coins will actively invest their own profits, fiat or bitcoin into developing it further, and how many will just wait and see, while hoping to grow "richer". How many will just simply wait to "make as much of it as (they) can"...
I don't know much about ideological Napster cults, but I do know that they were onto something.
What bitcoin seems to be teaching the world is not "craziness", but yes, if it's not developed, and early adopters and those hoarding lots of coins do not actively participate in engaging with developing it's utility and infrastructure I can see it not lasting.
I know next to nothing about programming but I sense that it all needs a fair bit of work but this is not impossible.
What would be interesting to see is that if it does only last "2 years", how the bitcoin will exchange, transfer or find new uses around that -end of lifespan- ... it's not like it can just drop dead.
For success IMO, big hoarders, over time, need to reduce their holdings so that it can become universally held. I am not saying they need to do it now at this price, just that for future stability, the influence of any one holder or collective must be reduced. Wasn't that the agenda ? A global decentralised 'currency' not subject to the whims of TPTB ? Or is the agenda to become the new PTB and control the new currency ?
The first can work ... the second will not IMO. I will go as far as to say I hope the second does not work
Does not really matter so much if they actively invest their profits in improving infrastructure ... it will be done if enough others are incentivised by having a piece of the pie and a shared vision.
May 11, 2013, 02:57:43 PM
Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults. Faith is necessary I get that but some of this stuff is just craziness. The more I read these forums, the shorter Bitcoins lifespan becomes to me. I''m currently at 2 years tops. That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
All new ideas attract some people who think the end of the world is nigh. That doesn't change the fact that some new ideas are good ideas. Bitcoin is a good idea in my opinion as it provides an effective alternative to fiat currency. As such, it only takes a few dictators or billionaires to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.
Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power. If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.
So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.
I'm not sure, but maybe Coinseeker is talking about some iAltCoin? I'm not sure about this. Bitcoin has some problems, but a new coin that is substantially better is something that cannot be forced. It's one thing to make the best phone by innovating and doing things the right way (iPhone back in the days), but a genius innovation like bitcoin cannot be bought with money and good engineering.
If some altCoin comes along that really is substantially better (it's not amazonCoin, litecoin, ripple (ok, not a coin, but a competitor of sorts) or yaccoin afaik) then I will embrace it even if it means my bitcoin stash is worthless because it would mean we then have even better money at our disposal.
About early adopters sitting back, not using their stash and brain power to develop bitcoin infrastructure: I'm pretty sure they are very active. Who do you think these people are behind all the projects? Do you really think someone in the early days discovered the potential of bitcoin, acquired a huge stash and now is content to do some non-bitcoin related work or no work at all? I'd think he'd like to be part of this awesome piece of history. There might be exceptions, but I would guess the bulk of the early adopters are among us, helping the cause any way they can and trying to profit even more. Hell, maybe even Satoshi is still active (might be dpr as someone suggested, although I doubt it).
May 11, 2013, 02:57:25 PM
t/a wise things are getting worse by the hour IMO
Mind to explain? In my book we broke upward the main triangle of doom.
May 11, 2013, 02:54:27 PM
Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults. Faith is necessary I get that but some of this stuff is just craziness. The more I read these forums, the shorter Bitcoins lifespan becomes to me. I''m currently at 2 years tops. That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
All new ideas attract some people who think the end of the world is nigh. That doesn't change the fact that some new ideas are good ideas. Bitcoin is a good idea in my opinion as it provides an effective alternative to fiat currency. As such, it only takes a few dictators or billionaires to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.
Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power. If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.
So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.
You missed my point...Bitcoin is a GREAT idea and can absolutely work. Unfortunately it's dominated by ideological nuts who ignore all logic and thus will do nothing to deal with the problems of the currency and will almost always flame anyone who even attempts to speak against the almighty Bitcoin. It's just as easy for someone to pickup the idea and do it better. Hence the Napster, iTunes reference. Like I said crypto is awesome. That can be Bitcoin or not. Don't care as long as it's right and ready for the long run.
I'm one of the new users you'd think you'd want on board but after ~ 2 months, I've gone from "what is this Bitcoin?", to "This is awesome honey, we've got to get involved!", to "I'm not even sure if Bitcoin will be alive in 2 years." That has nothing to do with Bitcoin, it has to due with many of the "cult" like followers who poison the brand.
May 11, 2013, 02:50:57 PM
Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults. Faith is necessary I get that but some of this stuff is just craziness. The more I read these forums, the shorter Bitcoins lifespan becomes to me. I''m currently at 2 years tops. That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
lol
so what is the iTunes of crypto please?
Not sure, but my eyes are open.
May 11, 2013, 02:47:56 PM
what I'd like to know is as infrastructure does develop, who of the early adopters holding larger amounts of coins will actively invest their own profits, fiat or bitcoin into developing it further, and how many will just wait and see, while hoping to grow "richer". How many will just simply wait to "make as much of it as (they) can"...
May 11, 2013, 02:46:51 PM
on topic;
t/a wise things are getting worse by the hour IMO
some buying or al least manipulation (
) needed to get over the weekend without a dip to 105/110
t/a wise things are getting worse by the hour IMO
some buying or al least manipulation (
) needed to get over the weekend without a dip to 105/110 May 11, 2013, 02:42:28 PM
just thought I'd mention that I'm confused by this talk of a "deflating" bubble, and the fact that bitcoin is essentially "deflationary".
Can someone please explain?
you're being played.
"deflation" of a bubble has nothing to do with "deflation" of the money supply or prices.
May 11, 2013, 02:42:02 PM
Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults. Faith is necessary I get that but some of this stuff is just craziness. The more I read these forums, the shorter Bitcoins lifespan becomes to me. I''m currently at 2 years tops. That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
All new ideas attract some people who think the end of the world is nigh. That doesn't change the fact that some new ideas are good ideas. Bitcoin is a good idea in my opinion as it provides an effective alternative to fiat currency. As such, it only takes a few dictators or billionaires to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.
Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power. If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.
So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.
May 11, 2013, 02:41:16 PM
Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults. Faith is necessary I get that but some of this stuff is just craziness. The more I read these forums, the shorter Bitcoins lifespan becomes to me. I''m currently at 2 years tops. That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
lol
so what is the iTunes of crypto please?
May 11, 2013, 02:39:53 PM
Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults. Faith is necessary I get that but some of this stuff is just craziness. The more I read these forums, the shorter Bitcoins lifespan becomes to me. I''m currently at 2 years tops. That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
what I'd like to know is as infrastructure does develop, who of the early adopters holding larger amounts of coins will actively invest their own profits, fiat or bitcoin into developing it further, and how many will just wait and see, while hoping to grow "richer". How many will just simply wait to "make as much of it as (they) can"...
I don't know much about ideological Napster cults, but I do know that they were onto something.
What bitcoin seems to be teaching the world is not "craziness", but yes, if it's not developed, and early adopters and those hoarding lots of coins do not actively participate in engaging with developing it's utility and infrastructure I can see it not lasting.
I know next to nothing about programming but I sense that it all needs a fair bit of work but this is not impossible.
What would be interesting to see is that if it does only last "2 years", how the bitcoin will exchange, transfer or find new uses around that -end of lifespan- ... it's not like it can just drop dead.
May 11, 2013, 02:29:08 PM
Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults. Faith is necessary I get that but some of this stuff is just craziness. The more I read these forums, the shorter Bitcoins lifespan becomes to me. I''m currently at 2 years tops. That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.
May 11, 2013, 02:10:05 PM
Yeah, but hindsight is also 20/20. I'm pretty sure (haven't done the hard maths, and probably won't cause it's the weekend) that if you start from the premise that you'll trade successfully only 50% of the time, buy and hold is a much better approach in the long run than trying to play the market swings.
That's also what I thought for a long time... until I read both Goomboo's journal and this (from Technical Analysis of Stock Trends - 9th Edition):
Quote
As may be seen in the following table, replacing the table from Chapter 5,
the Dow Theory continued to provide its user an advantage over the
unaware Buy-and-Hold Investor. From its original investment of $100 in
1897 the Theory investment would have grown to $345,781.94 by December
31, 2005, with the long trade still open. The table below shows the details,
including the post-2000 bust drawdown. To my mind this table is a powerful
demonstration of the power of methodical technical investing.
By contrast, the investment of $100, if bought at the low, 29.64, and sold at
the historic high, 11762.71, in January 2000 would have grown to $39,685.03.
the Dow Theory continued to provide its user an advantage over the
unaware Buy-and-Hold Investor. From its original investment of $100 in
1897 the Theory investment would have grown to $345,781.94 by December
31, 2005, with the long trade still open. The table below shows the details,
including the post-2000 bust drawdown. To my mind this table is a powerful
demonstration of the power of methodical technical investing.
By contrast, the investment of $100, if bought at the low, 29.64, and sold at
the historic high, 11762.71, in January 2000 would have grown to $39,685.03.
There's a big danger in comparing a model to historical data and assuming it will predict future performance.
The stock market is also a very different thing than it was in the 19th and most of the 20th century. Several orders of magnitude different.
there is also one enourmous "if"
If I'd been friends with Satoshi and mined loads of coins on my sisters laptop, then sold at the £266 high... that holding strategy would have worked pretty well
May 11, 2013, 02:02:27 PM
May 11, 2013, 02:00:27 PM
Yeah, but hindsight is also 20/20. I'm pretty sure (haven't done the hard maths, and probably won't cause it's the weekend) that if you start from the premise that you'll trade successfully only 50% of the time, buy and hold is a much better approach in the long run than trying to play the market swings.
That's also what I thought for a long time... until I read both Goomboo's journal and this (from Technical Analysis of Stock Trends - 9th Edition):
Quote
As may be seen in the following table, replacing the table from Chapter 5,
the Dow Theory continued to provide its user an advantage over the
unaware Buy-and-Hold Investor. From its original investment of $100 in
1897 the Theory investment would have grown to $345,781.94 by December
31, 2005, with the long trade still open. The table below shows the details,
including the post-2000 bust drawdown. To my mind this table is a powerful
demonstration of the power of methodical technical investing.
By contrast, the investment of $100, if bought at the low, 29.64, and sold at
the historic high, 11762.71, in January 2000 would have grown to $39,685.03.
the Dow Theory continued to provide its user an advantage over the
unaware Buy-and-Hold Investor. From its original investment of $100 in
1897 the Theory investment would have grown to $345,781.94 by December
31, 2005, with the long trade still open. The table below shows the details,
including the post-2000 bust drawdown. To my mind this table is a powerful
demonstration of the power of methodical technical investing.
By contrast, the investment of $100, if bought at the low, 29.64, and sold at
the historic high, 11762.71, in January 2000 would have grown to $39,685.03.
There's a big danger in comparing a model to historical data and assuming it will predict future performance.
The stock market is also a very different thing than it was in the 19th and most of the 20th century. Several orders of magnitude different.
May 11, 2013, 01:43:14 PM
It don't get it also when people are emotionally influenced by the price of a whole 10^8 satoshi bulk. So weak mind indeed 
You can overcome this instinct by will power, but that's how our mind works. Maybe it's easier to associate Bitcoin with gold or something more valuable, but even that conflicts with Bitcoin as handy object to buy things. Especially if you remember the time, when 1 BTC was worth almost nothing.
May 11, 2013, 01:32:57 PM
another false breakout eminent?
Not sure if "false" breakout is the best way to describe it, but yes, I expect price to go up somewhat shortly, oscillators say we're pretty oversold.
who said up? altough mid-term bullish (long term i hope people wont need no more money) originally I expected a false breakout downwards before going up ...
now, as price did not establish above 120 due to low volume there is even more chance of a down swing ...
we shall see and act accordingly ...
^^ this ... perhaps
May 11, 2013, 01:32:42 PM
I've seen all the $500, $1000 and even $300k coin statements. I truly hope that happens for people but if that's the case, who are these people paying $500-$300k per coin? Because I know who it's not going to be. 
As far as I understood this, your problem is the psychological barrier of "one unit for over 100 dollar", right? But does it really matter? I don't care if I get 1 BTC for 100 $ or only 1 for 1000 $, all that matters for me is the relative value and it's change: 20 % value gain is 20 % value gain, even if I pay 300k $ for "one unit", isn't it?
But I feel with you. I support that mBTC "movement".
Sweet Jesus it brings a tear to my eye to see weak bears leave.
That's like saying, “I used to invest $5,000 in BTC when it got me 65 coins, but now it only buys me 40 coins, that sucks!”. If you’re investing in BTC, that’s a good thing. It means they’re worth more. Lets say you take $10,000 to invest on NASDAQ. Hmm, Google, $880? Fuck that. Groupon, $6? Much better. But wait, you could buy penny stocks and own 50,000 shares! Holy shit ballz!
BTC has been over $100 most of the last 2 months. People didn’t have a problem when we had plenty of volatility. People don’t like it now, because woops, the volatility didn’t bail you out. So you’re faced with buying back at a higher price point and having fewer coins. Then you’d have to deal with the realization you shouldn’t have sold. Instead of facing that fact, you’d rather go trade another Cryptocoin. I could use $5000 to buy 44 BTC, or I could buy 1,500 Litecoins! FUCK YAH IMMA MAKE IT RAIN LITECOINS!
If that 44 vs 1,500 makes it look like a better deal, heading to litecoins is probably a good idea. However I’d suggest instead of $5,000, drop your investment pool down to like $5. Emotionally that’s a much easier number to deal with when trading.
This is how I imagine weak bears moving to other markets to trade because triple digit BTC rocks their world.
Haha. This. Definitely.
It don't get it also when people are emotionally influenced by the price of a whole 10^8 satoshi bulk. So weak mind indeed
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