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

[macsga]

Nice surprise right when I woke up, rpietila showing his mansion at the front page of Helsingin Sanomat, Finland's largest news papers:

http://www.hs.fi/ulkomaat/Suomalaismies+osti+kartanon+bitcoinilla/a1401596630456



From the article:
"34-year old Pietilä may be one of the few people who got rich with bitcoin before the virtual currency crashed in value" 

Also my first post here, been lurking tightly since the last bubble when I first learned about bitcoin and bought my first ones. Bought a little more this morning after reading the news. 

Would you buy a used car from this man? 

Aside from the part that EVERYONE here loves to hate rpietila, we ought to give the man some credit. He's the one that believes in bitcoin more than any of us trolls in here and has had the gut (and money) to support it. Chances are that he'll be around after the next 2-3 bubbles of bitcoin and he's gonna probably make it to the news several times in the future regarding virtual currencies.

Question is: who of us is willing to be here after $5000 mark? think before you spit. Kthnxbye.

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[ChartBuddy]

Explanation

[TERA]

You've all got repietelia's picture wrong. This is his real picture:

[Parazyd]

"In three years your Bitcoins will be worth so much you won't know what to do with them."

That's what he said to me.

Or was it someone else? 

[seljo]

"In three years your Bitcoins will be worth so much you won't know what to do with them."

That's what he told to me.

Who told you that Morpheus?

[Marbit]

This rally is all about momentum and technical chart break out, not huge inflow of $$$.  If not enough fiat gets in to support the price, we are bound to test some support lines as longs which are maxed out  will have to close before they get squeezed.

I agree. Bitfinex longs didn't even drop on the breakdown -- they rose. And I was noticing the past couple weeks that much of the big buys on Stamp were through Bitfinex (very possibly on margin). This can't sustain forever. We need new money. Retail money.

[Parazyd]

"In three years your Bitcoins will be worth so much you won't know what to do with them."

That's what he told to me.

Who told you that Morpheus?

Some rich-ass Bitcointalk cokehead...

[JayJuanGee]

Anybody get a circle.com invite yet? 

From my understanding, you have to go to their website to request an invite, and I made such an invitation request about a week ago. 

However, I have received No invite from them, so far.

I would also be curious whether anyone has used their service(s) to purchase and/or sell bitcoin, yet.

I'm wondering the same thing.  I'm just guessing, but the thought occurred to me that they might be waiting for some regulation that might be coming soon before sending out the invites.

They said that they were going to try to moderate their growth rate; however, I have NOT heard any specifics about any normal person actually using it, yet.. or anybody else for that matter (referring to non-normal peeps).

[TERA]

It's not so much the buying pressure causing the rally, but rather the lack of selling pressure. You can see this by looking at the volume which is very low. This could mean one two things.

1. Decentralization of exchanges, growth of the marketplace, and increased use of bitcoin as a currency which doesn't need to be converted into fiat.

2. Pump.

[edwardspitz]

We are at lower prices.

I will wait for cheaper price under 550 seems OK.. Its bound to test 600 soonish..Yes shroomy i've seen the future

Smokin da crack pipes ...

we can stay here all day it wont go below 600 ...toooo many whales invested in cheap-ish coinz ..no body want to kill this golden goose ...YET

Gotta feed it some more for the feast taht is 2k+  

I agree, I don't think we will go below $600 for a while. I think we will be more or less sideways for some time. I'll only consider buying on dips at this stage and I might even abstain from that. That is my position for now anyway.

[akujin]

This might go down again... ehhe 

[JayJuanGee]

Last 2 weekly MACD crosses produced this:

I say 7x this time.

7x from what price point do we measure? 

From seleme's box, bottom left: 648

 

I don't completely proclaim to understand the box or the number; however, it seems that $648 is the pricepoint in which the 1 week macd is projected to cross.


Also, I suppose that is as good a number as any which means BTC will achieve 7X of approximately $4,536,and then come down by 50% or so and then repeat again.  I will plan accordingly ..... though taking the information with a grain of salt.. hopefully attempting to remain somewhat flexible too, b/c I am of the sense that human behavior, including markets and BTC prices cannot be completely mapped out in math.

[oda.krell]

Aside from the part that EVERYONE here loves to hate rpietila, we ought to give the man some credit. He's the one that believes in bitcoin more than any of us trolls in here and has had the gut (and money) to support it. Chances are that he'll be around after the next 2-3 bubbles of bitcoin and he's gonna probably make it to the news several times in the future regarding virtual currencies.

Question is: who of us is willing to be here after $5000 mark? think before you spit. Kthnxbye.

I don't hate him. Never even met the guy.

I do however consider his habit of presenting Bitcoin as a get-rich-quick scheme to be toxic. All the fancy log charts and extrapolations can't change that this is his selling point.

He's certainly not the only one who's doing it, but he's one of the more prominent ones, so he receives a certain (disproportional perhaps) amount of flak from those who feel that kind of salesmanship is a disservice to Bitcoin.

[mmitech]

Nice surprise right when I woke up, rpietila showing his mansion at the front page of Helsingin Sanomat, Finland's largest news papers:

http://www.hs.fi/ulkomaat/Suomalaismies+osti+kartanon+bitcoinilla/a1401596630456

http://hs13.snstatic.fi/webkuva/oletus/630/1305831619691?ts=269

From the article:
"34-year old Pietilä may be one of the few people who got rich with bitcoin before the virtual currency crashed in value"  

Also my first post here, been lurking tightly since the last bubble when I first learned about bitcoin and bought my first ones. Bought a little more this morning after reading the news.  

Would you buy a used car from this man?  

Aside from the part that EVERYONE here loves to hate rpietila, we ought to give the man some credit. He's the one that believes in bitcoin more than any of us trolls in here and has had the gut (and money) to support it. Chances are that he'll be around after the next 2-3 bubbles of bitcoin and he's gonna probably make it to the news several times in the future regarding virtual currencies.

Question is: who of us is willing to be here after $5000 mark? think before you spit. Kthnxbye.

dont talk on behalf of us all, only talk about your self

[JayJuanGee]

Anybody get a circle.com invite yet? 

From my understanding, you have to go to their website to request an invite, and I made such an invitation request about a week ago. 

However, I have received No invite from them, so far.

I would also be curious whether anyone has used their service(s) to purchase and/or sell bitcoin, yet.

I requested and no invite.  Several days ago there was a blog post on their site answering questions and it seems the #1 question was, where is my invite? The following is part of their answer.


We are not in general release whatsoever.

Making this worse from a Bitcoin pro’s perspective: The product is designed for casual consumers, so the initial invites have gone to those sorts of profiles rather than those who already breathe ECDSA crypto and the like. We’ll certainly expand, as we need the harsh feedback of the pro Bitcoiners just as well, but we will not expand quickly enough to please everyone.

Profiles?  My "profile" consisted of my name and email address.  The answer seems to be that we are still in the hype phase and that their answer is bullshit.

Thanks.  Their answer seems a bit strange to be attempting to expand into a certain kind of user based on their invitation request.  Probably, they fear that  people will over use their site if they expand very quickly at all - b/c zero fees will create a trading incentive (like what goes on in china).  Zero fees seems to good to be true.

[blatchcorn]

It's not so much the buying pressure causing the rally, but rather the lack of selling pressure. You can see this by looking at the volume which is very low. This could mean one or more of the following things.

1. Decentralization of exchanges

2. Growth of the marketplace,

3. Increased use of bitcoin as a currency which doesn't need to be converted into fiat.

4. Pump.

Fixed.

[KimNam]

last time i post here, BTC price about $680
now drop 10% to $620
few correction i think, some people take profit

[TERA]

There wasn't really a 10% drop. It was the spike from 650 to 680 which was an abnormality. This was a very brief spike over a major fib line which was rejected and there was a very small actual amount of volume done inbetween 650 and 680.

[JayJuanGee]

On today's menu, our bullish members will be mainly eating...

Dont think so drop kick .... Pplz gotta take profits and back we go up

I bet my left nut that we wont break 600 

I am certainly bullish in my sentiments about the current state of bitcoin; however, it is truely idiotic in my thinking to be talking in such absolutisms regarding the bitcoin price.  That's what gets people into trouble, and who the fuck really knows what kinds of manipulations can take place in the short term to affect BTC prices beyond expectations.  So don't be betting your left nut on anything related to bitcoin prices b/c you may need that later in life, especially if you plan on having kids in the future.

[alexeft]

Hey people, hyperinflation just ensued in the eurozone!!! Have a look!