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Question: 1/24 Closing Price:
<$32,000 - 8 (18.6%)
$32,000-$33,000 - 3 (7%)
$33,000-$34,000 - 1 (2.3%)
$34,000-$35,000 - 3 (7%)
$35,000-$36,000 - 4 (9.3%)
$36,000-$37,000 - 5 (11.6%)
$37,000-$38,000 - 3 (7%)
$38,000-$39,000 - 1 (2.3%)
$39,000-$40,000 - 3 (7%)
$40,000-$41,000 - 2 (4.7%)
$41,000-$42,000 - 0 (0%)
>$42,000 - 10 (23.3%)
Total Voters: 43

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25067981 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
calmindifference
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May 16, 2014, 10:43:54 AM

Also this chart seems to say that the bitcoin system currently costs 30 USD per transaction:
https://blockchain.info/charts/cost-per-transaction
The cost of running the system is currently hidden in the inflation caused by mining, but in the long run will have to be paid by users as transaction fees.  If the numbers above are correct, bitcoin will be inviable for payments below 1000 USD.

It's an compelling argument on the face of it, but the question is compared to what?
What is the transaction and system maintenance cost of a USD/GBP/EUR fiat transfer?
1611198846
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Ultros
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May 16, 2014, 10:44:02 AM

Old trend broken @ chinaban, westeros doesn't give a fuck.
p0peji
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May 16, 2014, 10:45:43 AM

Also this chart seems to say that the bitcoin system currently costs 30 USD per transaction:
https://blockchain.info/charts/cost-per-transaction
The cost of running the system is currently hidden in the inflation caused by mining, but in the long run will have to be paid by users as transaction fees.  If the numbers above are correct, bitcoin will be inviable for payments below 1000 USD.

It's an compelling argument on the face of it, but the question is compared to what?
What is the transaction and system maintenance cost of a USD/GBP/EUR fiat transfer?

......
p0peji
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May 16, 2014, 10:46:57 AM
Last edit: May 16, 2014, 10:59:57 AM by p0peji

It looks like all the bagholders just came back alive, hoping that they dont have to realize the loss on their investments.... Roll Eyes

Edit:
Srsly, big buy orders and they are still not able to start a rally. Conclusion, it is still a sellers market.

Edit 2:
Huobi orderbooks scream, DUMP INCOMING!
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May 16, 2014, 10:50:05 AM


ChartBuddy
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1PwXK9TpmmaaqaZz2eqcLkPU2C1Fcva39G


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May 16, 2014, 11:00:47 AM


Explanation
ShroomsKit
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May 16, 2014, 11:04:45 AM

Good old volume at Huobi. Breakout this time or another dump ahead?

Look at the last 20 times or so and take a guess.
niothor
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May 16, 2014, 11:06:59 AM

Good old volume at Huobi. Breakout this time or another dump ahead?

Look at the last 20 times or so and take a guess.

It won't happen this time Wink.
p0peji
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May 16, 2014, 11:07:08 AM

Those buy walls were gone quickly  Wink

Edit:

There must be some rich motherfucker trying to spark a rally or something, because each time it fails buy walls are gone in an instant.
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May 16, 2014, 11:15:48 AM

has there ever been an asset where almost every participant sooner or later turns into a walking pr-machine in the same way bitcoin does it for its community members ?  one million bitcoin holders all telling it to grandma & friends; all those developers working on new layers (how many are there - thousands ?) all the vc money pouring in the last 12 months, despite of one of the longest downtrends in btc history.
almost every central bank in the world has issued statements, tons of government agencies are watching it, struggling for regulation. an asset with this tiny tiny market cap of just 5 billion is constantly in the headlines, causing raised eyebrows throughout the governments/banks/investment funds/venture capital firms of the entire planet - has there ever been anything like that before ?

just sit back for a moment and grasp what has been achieved so far. a disruptive technology combined with an uncounted number enthusiasts/nutters stampeding through the forums, choo choo ing on every hick-up dwarfing the sheer cheering potential of even the goldbugs...  

p2p, decentralized, money, internet, global AND already beating every fucking other asset that exists. 5 billion is dust compared to the figures of global trade, financial assets/investments, internet trade, etc, etc - literally less than a some flies shit in a zoo - but still you have central banks of G8 (oh wait - it is G 7 now  Roll Eyes) members coming out with statements like this:

Quote
As they do with platform-based digital currencies, central
banks are studying and closely monitoring decentralized digital
currencies such as Bitcoin. There could be potential risks to
overall financial stability if Bitcoin became a signifi cant means
of payment and the Bitcoin system remained unstable

http://www.bankofcanada.ca/wp-content/uploads/2014/05/boc-review-spring14-fung.pdf

in my opinion even the bears play an important role in delivering the bitcoin evangelium to the potential masses: if all would be only cheering, plenty of new potential investors (even small scale) wouldn´t take this community serious. it is the critical bears talk who is appealing to those (before they get sucked in  Wink)

bitcoin is on a winning streak. even today at 445...

+1 for an insightful and levelheaded perspective, and just general awesomeness.


EDIT: oh, and by the way, congrats YipYip for being the first ever Hero member I put on ignore. Lay off the steroids for a while, mkay?

Don't you know that because price went from 10 to 1000, that it will go from 400 to 40000 just as easily?

And from 40,000 to 4,000,000 just as easily? Yeah, it is exactly the part I am not "getting". Perhaps because I am a mathematician and vaguely remember from school that amount of money in the Universe is finite Wink. But you are just trolling, right?

No u are being a troll moron

So crypto is @ 100 % saturation @ we have hit a retraction point of all potential market cap

Either you are trolling or are stupid Mathematics noob
ShroomsKit
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May 16, 2014, 11:19:56 AM

Good old volume at Huobi. Breakout this time or another dump ahead?

Look at the last 20 times or so and take a guess.

It won't happen this time Wink.

Let's hope so. Extremely tired of this.
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May 16, 2014, 11:20:20 AM

Those buy walls were gone quickly  Wink

Edit:

There must be some rich motherfucker trying to spark a rally or something, because each time it fails buy walls are gone in an instant.

And that is pretty annoying for you , isn't' it? Smiley))))

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May 16, 2014, 11:23:22 AM

Those buy walls were gone quickly  Wink

Edit:

There must be some rich motherfucker trying to spark a rally or something, because each time it fails buy walls are gone in an instant.

And that is pretty annoying for you , isn't' it? Smiley))))



Well what bothers me is that is postponing the inevitable drop, in which case my shorts will bring me more $ than they are now.
dreamspark
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May 16, 2014, 11:24:31 AM



Well what bothers me is that is postponing the inevitable drop, in which case my shorts will bring me more $ than they are now.

Can I borrow that crystal ball after you ?
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May 16, 2014, 11:25:03 AM


Well what bothers me is that is postponing the inevitable drop, in which case my shorts will bring me more $ than they are now.

Inevitable is a word one should use with caution.
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May 16, 2014, 11:25:41 AM

Those buy walls were gone quickly  Wink

Edit:

There must be some rich motherfucker trying to spark a rally or something, because each time it fails buy walls are gone in an instant.

And that is pretty annoying for you , isn't' it? Smiley))))



Well what bothers me is that is postponing the inevitable drop, in which case my shorts will bring me more $ than they are now.

Oh , the drop , the crash , the igorr pocalypse , that thing that is not coming and it drives bears nuts Smiley
Arghhh
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May 16, 2014, 11:31:58 AM

My new view of the market:



I wouldn't be suprised to see flat for an entire year.

I wouldn't be surprised to see that you're fucking wrong for the 10th time.
Remember your case-in-point during October?



Anyone who thinks bitcoin is staying 500 for a year is delusional. You're not fooling anyone.
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May 16, 2014, 11:33:56 AM

Another thing that annoys me is that when I write "Inevitable crash" I get 3 responses within a minute stating that I am pulling predictions out of my ass. While in the meantime if for example Chessnut predicts "CCMF" with his EW analysis (which he hasnt the slightest idea about), people are already like "CCMF" etc.
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May 16, 2014, 11:38:50 AM

My new view of the market:



I wouldn't be suprised to see flat for an entire year.

I wouldn't be surprised to see that you're fucking wrong for the 10th time.
Remember your case-in-point during October?



Anyone who thinks bitcoin is staying 500 for a year is delusional. You're not fooling anyone.

Yes I could be wrong. My type of assertion is 'I wouldn't be suprised' and you don't see me placing any bets do you. And why do you think I'm trying to 'fool' someone? What motive could I possibly have for claiming the market will be flat?
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May 16, 2014, 11:38:57 AM



Circle seems to be what really is needed for not so technically savvy users. It looks to be as easy to use as Paypal, which is huge improvement compared to the current situation!
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