Wall Observer

[Peter R]

So a good friend of mine--a dentist--tells me that he's bummed out about his stock portfolio's performance: "I'm down like $3000 in a couple of months." I can't even relate anymore.

Being a Bitcoin holder has transformed my view on money: money used to seem rigid and real; now it is fluid and abstract. To use the words of David Graeber, money (debt) is just a sort of "perversion of a promise"--don't let it hold you back from achieving your goals.

 

[megadeth]

@VinnyLingham thinks we aren't ready yet:

 

[theZerg]

IDK I think the value proposition of cross border, no counterparty store-of-value "fundamentals" works great today.

If you look at the volume charts for finex and huobi they are exactly opposite. Finex had massive volume during the dumps and low now during the recovery. Houbi didn't even really dump, just trended flat to down (with low volume), then had medium volumes during a forced-follow dump. Now the Houbi recovery volume is pretty strong.

 

[Georg Engelmann]

It almost looks like this journalist thinks Blockchain Ltd is behind the Bitcoin blockchain:

http://www.bloomberg.com/news/videos/2015-11-05/bitcoin-infrastructure-technology-key-to-resurgence

We're below $400 again.

 

[Norway]

It's a beartrap, not a bulltrap. And @VinnyLingham is walking right into it

 

[Zangelbert Bingledack]

On a logarithmic chart...

Exponential growth looks like: ／

Super-exponential growth looks like: ⤴

The first can last for months, the second only days and always followed by a violent correction. I've been expecting this surge for a long time, and I think it can go much further. First, though, we have to shake off the super-exponent.

 

[Georg Engelmann]

The first can last for months, the second only days and always followed by a violent correction. I've been expecting this usurge for a long time, and I think it can go much further

Yes, it can go further. Go buy some Bitcoins. If you don't want to buy them for yourself do it for America.

 

[Norway]

Getting desperate now...

 

[Georg Engelmann]

Bitcoin as a currency doesn't "get around government controls". You can only freely move your Bitcoins if you have them in your own wallet, not on exchanges, trading platforms or commercial wallets.

If you phrase your question about Bitcoin like this reporter almost nobody is going to respond positively.

 

[Norway]

@chmod755
Do you mean that Dimon is actually pro bitcoin, but was tricked by the reporter to give a negative response?

 

[Georg Engelmann]

Do you mean that Dimon is actually pro bitcoin, but was tricked by the reporter to give a negative response?

No, but his answer might have been less negative if the reporter simply asked "What do you think about Bitcoin?" instead of his question that was more like "What do you think about shadow currencies that are used to bypass regulations?"

Also: http://www.coindesk.com/jp-morgan-ceo-we-can-learn-from-technologies-like-bitcoin/

 

[Norway]

It's probably in the eye of the beholder. I saw a Dimon that likes "the technology behind bitcoin" but say that bitcoin as a currency will fail because governments will ban it. He also looks desperate and threatened, lol!

 

[Norway]

US MARSHALS OFFICE​

 

[Georg Engelmann]

He also looks desperate and threatened, lol!

1.JP Morgan is not invested in any Bitcoin company right now

2.Jamie probably knows that competitors (e.g. Goldman Sachs) did make investments in Bitcoin companies

 

[Norway]

That is true, @chmod755
I'm talking about bitcoin as a threat to the current monetary system. I would not be suprised if in five years, bitcoin thrives and JP Morgan is gone. Like Lehman Brothers. Or these banks:
https://en.wikipedia.org/wiki/List_of_bank_failures_in_the_United_States_(2008–present)

 

[Norway]

The auction has finished:

 

[Georg Engelmann]

I'm talking about bitcoin as a threat to the current monetary system.

Many of the world's most powerful banks (Barclays, Goldman Sachs, UBS, BNY Mellon, Capital One...) are investigating the technology and closely following Bitcoin. Some banks and nations will lose out.

If it was a threat to the current monetary system they wouldn't buy it. Nobody would buy it. Who wants to be responsible for recession and possibly a world war?

 

[Norway]

I think banks play an important part of recessions and wars by money printing. Not bitcoin.

 

[Georg Engelmann]

I think banks play an important part of recessions and wars by money printing. Not bitcoin.

If you think Bitcoin is a threat to the current monetary system you also believe that Bitcoin will cause a financial crisis and recession – otherwise it's not a threat.

 

[Norway]

I don't think you should try to tell me what I believe, @chmod755...