Wall Observer

[theZerg]

@Inca thx!

@cypherdoc, yes am so close to being a short term bear expecting a slow things down retracement to .350 to .370 (mBTC) but with GBTC at .52... that a lot of pent up demand. Is it possible to expand the # of GBTC shares?

EDIT: if not Barry should be starting a GBTC series 2... and calling all the LT holders and helping them arb by selling GBTC series 1 and buying GBTC series 2

 

[JVWVU]

Its always possible to expand GBTC, more people just have to outright buy and then have their shares locked up for 1 year before transferring them to OTCMarkets for trade.

Say I bouht GBTC last year (12-6-14) and today I was able to sell on OTCMarkets at $55 a share for 100 shares (~10 BTC). That would give me ~$5500 I could turn around and give back to Barry to buy me more GBTC shares off Bitstamp at $400 a bitcoin. Thus meaning I could add ~13.75 Bitcoins 137.5 shares) to the GBTC fund that could then go to OTCMarkets next year

 

[theZerg]

Are u sure? Last I heard Barry's fund was locked... but maybe that was temporary in prep for listing? If it is unlocked I'm amazed that every LT holder hasn't arbed this. Maybe they have... any way to tell? All I see is 1430800 outstanding shares but no breakdown.

 

[JVWVU]

https://bitcointalk.org/index.php?topic=337486.0

 

[Erdogan]

Huobi price of 2591 against bitstamp's 395.5 suggests a yuan to usd ratio of 6.55, while it is currently on 6.49 (CNH).

This is if we can use local bitcoin prices to estimate the unofficial (blue market) rate of all other currencies. Which I think will be the reference in the future, if not yet.

Yuan value going down?

 

[Erdogan]

Currently the price of dollar in yuan (measured using huobi btc price in yuan and bitstamp btc price in dollar) is 6.57
In the meantime, the USDCNH on the forex market has moved to 6.50

I think this is useful, bitcoin the ultimate blue market pricing tool for fiats. Bitcoin can move freely over borders in trade, while all fiats have currency trade and movement controls in some form.

 

[Zangelbert Bingledack]

My intuition is that this is just a pause in the surge and we'll be above $500 within a week, as crazy as that may sound.

This was a month ago, so... maybe one more week

Slow boooi-oooi-oooing.

 

[Inca]

The slow rise continues. I closed out a leveraged long at 440 today. A few more for the pot.

A quick run up to 650 would be nice.

In the last 1.5 years my least expensive coins have been 165$ and my (2) most expensive 650! I think it all evens out in the wash after heavily accumulating in the low 200's this is all fine.

 

[Norway]

My two crazy predictions:
1. Yellen will NOT raise the rate next wednesday. Because there is too much hidden debt in the system.
2. Bitcoin is USD 900+ on new years eve.

 

[cypherdoc]

@Norway

dude!

we got a date with gold!

 

[Norway]

@cypherdoc
Gold is doing good now, but doesn't have the same potential as Nakamoto Gold. I'll probably buy a bunch of krugerrands in five years. Just to play with them

 

[Inca]

No reason to buy gold today.
Commodities at 7 year lows and equities crashing.

Hold on, gents. Money is chasing returns and scarcity in a world of QE.

Not much longer before bitcoin bubble number 4.

 

[Norway]

@Inca
I totally share your view. Bitcoin was the worst performing currency in 2014. It will be the best performing currency in 2015.

EDIT: And central banks all over the world are competing to be the worst performing currency, because it's good for export. But that's just something they say. The truth is that they move money power from the poor and middle class to the rich by diluting the fiat.

 

[solex]

@Norway The truth is that they move money power from the poor and middle class to the rich by diluting the fiat.

I believe that this is the main reason why the average family only needed 1 breadwinner in the 1960s, needed 2 in the 1980s, and now needs 2 with a humungous debt overhang in the 2010s.

 

[Zangelbert Bingledack]

Cabin crew, prepare for takeoff.

 

[Norway]

Aye aye captain!

 

[Erdogan]

To da moon!

 

[Fatman3002]

This Rally:


Quite Beautiful, a bit weird, and not without its hiccups.

 

[Norway]

I admit it, I was wrong about the rate hike

 

[solex]

Me too. But somehow I still expect a Santa Rally (just to ensure the highest possible Squid and Bankster bonuses for year-end), then a January dump.