Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Oh, and when I found it at .50 (cents), I couldn't find a place to buy some. Cry

eheheh
Memory lane...

What were your options around then? I thought there was always the OTC channel and the new liberty standard place. Maybe it was gone by then. I dunno.

I should preface that by saying I hadn't yet read the white paper. I was going off intuition to be honest. I was not into Crytpo before that (just trading and computer work).
So, I did a few searches and it just seemed like a lot of work, wasn't sure about wiring money to GOX.
And then the price was at $1 and I thought "How can a digital money be equal to a dollar?" LOL
So, my ignorance "cost" me but that white paper made a light go off in my head.

Before that moment I was a relatively early internet employee during the bubble. At that time I saw the internet as a big old Black Swann.
When I came across that white paper, I saw it as a Black Swann on steroids.

Its about sharing

Seems quite often that when people encounter bitcoin for the first time, they think it sounds too good to be true, and they come up with a reason why it won't work. A few years later, when they encounter it again, they are more likely to go for it. That promises for the next bubble given the widespread media coverage in 2013 Grin

.

I am still bearish for the very short term (next day or 2) though.

Yeah, Black Swan's are hard to spot. The internet might have been a lot easier to see. I mean the internet was freedom of information and Bitcoin is a step in the direction of freedom with value transfer. It isn't THE answer, but a step in the right direction.

If we see $10,000 per BTC this year, I would not at all be shocked.

The strange thing is, due to my background in computer science, I get to talk to quite a few relatively intelligent IT guys. 95% of them just don't get it. They understand tech but they can't wrap their heads around it. Trading stocks gave me another perspective and I find that stock traders might take a chance on BTC for obvious reasons, but understanding it is not one of them.

And these same people who wouldn't buy at $200 because it was too high, won't buy at $10,000 just like they won't buy now. It is almost like there is a stop sign in that part of the brain.

its the normalcy bias at play.

poeple have always used dollars to buy and sell shit
you tell them bitcoin aims to displace the dollar, there normalcy bias kicks in and no amount of logic can convince them that things can and will change.
i think its fairly obvious that things MUST change, its a technical impossibility that fiat and the USD will be the reserve currency for ever.
but most poeple can't accept that, in their minds it has always been the USD and it always will be.
they can understand and even appreciate the idea behind bitcoin, but they can't accept that it has any chance of being anything more than a fun experiment.
their close mindedness will make them be part of the 99% that miss out being an early adapter.

these people might encounter bitcoin has a form of payment for there next IT job.
they will accept the job once they realize how easy it is to convert between BTC and Fiat.
they might even start spending some BTC directly for some neweggs stuff sometimes.
they might even see there BTC hodl value during a high inflation year ( -5% on the USD in 2017? maybe!)
but STILL they will not believe BTC can displace their USD
because their brain strongly believes that because somthing has always been it will always be.