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

[Erdogan]

When will be 700$ ? before new year? What do you think?

In stead of asking, form your own opinion, say it here with the reasoning behind it.

Here is an example: Based on the number of people just asking what the price will be and when, knowing that there are different opinions and at best they will get all possible answers, I can say that the prospected rise of bitcoin due to the network effect is severely hyped up, and will lead to not a steady rise but bubbles, burns, crashes, euphoria, suffering, despair. When? At all times.

I agree with you Erdogan that this kind of volatility is likely to continue with BTC when BTC reaches 1 trillion market cap, and it may continue beyond that, when BTC reaches 10 trillion and 100 trillion market cap.  Once BTC reaches these higher market caps in the trillions, though, it will be much more difficult to manipulate it.

It will never be completely stable. The idea that the current money is stable is an illusion also. The important thing is that the money issuers now can manipulate, this makes long time planning impossible. With bitcoin, everybody can, if they want, try to see what is coming and take action. Those who don't want, can just assume that the value will hold or slightly increase, and they will be correct in the long term. This is a huge improvement.

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[Erdogan]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

You don't really ask a question. It is your convoluted way of proposing that the trades don't make any difference.

Your proposition is wrong. It is correct that only the holding of bitcoins  give them value. A trade only transfers the ownership of bitcoins, but at all times, someone must hold them. So if a trade is only a swift roundabout through bitpay and merchant and the coins immediately come back to the customer, that doesn't do much to the value. But eventually, frantically going to the exchange, sell, then rebuy when the next need arises, will appear as a bad idea, because holding them for a while is low risk and there is no value depreviation. Therefore, all transient users will eventually be converted to holders.

[Erdogan]

It's a closing pennant pattern. July 24 to August 1, I say. But I may BULL-shit you, as I usually do...

There is to much bull on this forum. It has become unbearable. 

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Nice

[ChartBuddy]

Explanation

[MICRO]

Explanation

Looks good, price is staying on 600-630 going up and down every day, u can almost know when exactly will go down and then big wall up. I guess perfect scenario for day traders .

[ShroomsKit]

Short term, not sure what to think. I thought we were seeing a rising wedge, but the bottom seems to have fallen out (and not much momentum followed). Could still see a third drive up.

All i see is the price going down again and no sign whatsoever that we're about to go up.

What is this, Dr. Jekyll and Mr. Bear? What happened to Dell news meaning the only way is up?

I should post a disclaimer that up to 3 people use this account. Sorry.

[ChartBuddy]

Explanation

[ag@th0s]

What if BTC stabilises here?

I'm just getting the feeling recently that all the Bull/Bear nonsense is based on the belief that BTC is a speculative instrument (or still in the speculative phase) and that may not be true.

Take Dell for instance and personalise it for understanding. Michael Dell is already rich beyond the dreams of Croesus - he's not taking BTC because he needs the money/fiat/crypto and he doesn't need to hodl to achieve some future dream of luxury.  It's an optional transactional medium for him to continue to accrue wealth - that is all.

As it gets easier to obtain, and easier to disburse the price is going to settle down as a matter of course. BTC has already become a global currency (it happened while we were not sleeping) and after all the excitement about China - and then then the come-down - we're all still holding coin with the most amazing utility.

That's what Big Trade is buying into - the utility, not the speculative opportunity, so I'm not expecting another "launch".  I'll be very surprised if we see $1000 again - there's no good reason for it at the transactional level.

[justusranvier]

That's what Big Trade is buying into - the utility, not the speculative opportunity, so I'm not expecting another "launch".  I'll be very surprised if we see $1000 again - there's no good reason for it at the transactional level.

That belief is certainly the goal which the present psyop against Bitcoin is attempting to achieve.

[ag@th0s]

That's what Big Trade is buying into - the utility, not the speculative opportunity, so I'm not expecting another "launch".  I'll be very surprised if we see $1000 again - there's no good reason for it at the transactional level.

That belief is certainly the goal which the present psyop against Bitcoin is attempting to achieve.

Don't understand - why would a view that emphasizes Bitcoins utility be a hostile operation?

[wachtwoord]

Take Dell for instance and personalise it for understanding. Michael Dell is already rich beyond the dreams of Croesus -

Because he stole my (and every public shareholder's) money. I hope the asshole invests his entire net worth in Bitcoin and then deletes the private keys. I hope he spends his life begging in the streets.

[empowering]

What if BTC stabilises here?

I'm just getting the feeling recently that all the Bull/Bear nonsense is based on the belief that BTC is a speculative instrument (or still in the speculative phase) and that may not be true.

Take Dell for instance and personalise it for understanding. Michael Dell is already rich beyond the dreams of Croesus - he's not taking BTC because he needs the money/fiat/crypto and he doesn't need to hodl to achieve some future dream of luxury.  It's an optional transactional medium for him to continue to accrue wealth - that is all.

As it gets easier to obtain, and easier to disburse the price is going to settle down as a matter of course. BTC has already become a global currency (it happened while we were not sleeping) and after all the excitement about China - and then then the come-down - we're all still holding coin with the most amazing utility.

That's what Big Trade is buying into - the utility, not the speculative opportunity, so I'm not expecting another "launch".  I'll be very surprised if we see $1000 again - there's no good reason for it at the transactional level.

Where demand meets supply, and the demand outstrips supply.... then the price will rise... there is not the velocity/liquidity in place at the moment to stabalise the price where it is, and the price rise will come as the utility/usage increases, and demand outstrips supply.... which is due in ................5.........4..........3........

[jeezy]

Take Dell for instance and personalise it for understanding. Michael Dell is already rich beyond the dreams of Croesus -

Because he stole my (and every public shareholder's) money. I hope the asshole invests his entire net worth in Bitcoin and then deletes the private keys. I hope he spends his life begging in the streets.

Story behind this?

[wachtwoord]

Take Dell for instance and personalise it for understanding. Michael Dell is already rich beyond the dreams of Croesus -

Because he stole my (and every public shareholder's) money. I hope the asshole invests his entire net worth in Bitcoin and then deletes the private keys. I hope he spends his life begging in the streets.

Story behind this?

Read the take private story of Dell last year. Shareholders were forced to sell their shares to Dell and some of his friends for less than the shares were actually worth (yes yes more than market price but the share price was depressed). Carl Icahn fought it but I guess he was bought off.

[bitrider]

That's what Big Trade is buying into - the utility, not the speculative opportunity, so I'm not expecting another "launch".  I'll be very surprised if we see $1000 again - there's no good reason for it at the transactional level.

Even without the conspiracy theories, it is easy to see that you (and most people) are not understanding the deeper implications of the money change we are going through. Learn and study more if you want make wise long-term bitcoin decisions. Bitcoin's utility - and therefore price - is directly tied to the network and the number of people using this network. The bigger this network, the more valuable the network-this is inevitable law. Owning bitcoins is like owning a piece of this network. The network is growing at exponential rates, and I see no data to suggest this is going the other way - in fact the opposite. The timing of price explosions is for speculators to debate about and have fun here. If bitcoin survives, the network will be much bigger than it is today, therefore the value will be much higher than today's.

Read more. Actually understand what you are speculating on...

Not a bad place to start...

http://nakamotoinstitute.org/mempool/why-bitcoin-will-continue-to-grow/

[bitrider]

I think we have entered the sweet spot...the damped oscillator has pretty much come to rest - finally...and now we are seeing low volume and much lower volatility - and I expect it to continue for the next bend the river. My bollinger bands are closing down, and that is good. Now we can actually begin building a base for the next major move. Could be a week, or a couple of months as in past years. I really don't know what that will look like this time, but I'm guessing it is going to be fun...

[empowering]

[cbeast]

Old man Lawski has the Scooby Gang scared at the moment. Soon they'll discover he's just a Superintendent of a run down old school of thought. His scary monster act only works on the kids playing in the Status Quo club. The new investors are free to move their money anywhere that makes them happy and offers more freedom.

[ChartBuddy]

Explanation

[empowering]

We've been at this price the last few weeks, something has to give soon!

yup......