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

[Walsoraj]

We are going to settle around $500 until early Sept. Then mini-bubble followed by stagnation until mega-bubble in March 2015.

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[criptix]

[...]and dead bitcoin exchanges[...]

i definitly agree to that, but soon we will have decentralized exchanges popping up everywhere x)

[MoreFun]

Amazing recovery from those 2 dumps! Did not expect such market reaction...

No more sheeps who still believe selling at $450 was good idea. So good recovery since low 2 says ago that there is no point in selling medium term.

[empowering]

No its not sad, its just typical. Greed caused them to miss the good buying opportunity and now they dwell in delusion that it was not a greed but a "smart move" to wait. Deep inside they are shaking in fear, but mask it with retarded smiley spamming ( etc.) to fake confidence.

The same could be said about the most aggressive of bulls during a price decline and subsequent flash crash, no?

Same denial, same greed, just applied in the opposite direction.

The difference is... a lot of bulls, are on here and have old accounts , snr , hero, ledg... and are "real"  and not all but a good 90%- 95% of the bears that pop up when there is a down move are these daft tools that start tens of newbie accounts and start ranting utter crap... which is just a blatant and poor attempt at propaganda, they fool no one, but they persist, it is embarrassing. Also I think most "permabulls" really believe in the tech, and the prospects of BTC, hence why they think the price will go up... and a fair few bears actually also think the price is going up long term, but just not yet, and so they believe , but they are betting against in the short term for profit.. so the bulls at least are true to what they believe, the bears are playing both sides of the fence.

You have a point about the first part (bulls are, on average, older accounts). Then again, older account means they bought in earlier, so being bullish is a bit easier, considering you probably haven't been sitting underwater for more than half a year. About the second part, "bears playing both sides of the fence"... what's wrong with that? I don't consider myself a bear for the long term, but I'm not above selling at a point when I think we're in a manic phase and price will first have to go down for a while before it can rise again.

I take your point... I guess it is more the 10's of newbie accounts popping up  right on cue talking rubbish and giving it the "I am inspirational" shyte... that bugs me because I do no think they are just trolls with personality disorders, they are pro trolls with a motive..(and personality disorders?) I know they are easy enough to spot (it is nearly always bordering on the ridiculous) it is more that, that bugs me, not of course "bears" expressing their opinion or playing the market so much...  

[grappa_barricata]

Personally i find all this bull/bear dichotomy utterly ridiculous.
Either you are here because you believe in the potential of the technology, or you are here because you are interested in the markets.
In the former 'bull' is the only appropriate description. In the latter the description is meaningless.

[JayJuanGee]

@JayJuanGee

did you turn bear?

I remain a buydler and a hodler...   

However, I just get a little bit too worked up, from time to time, when there are posts that seem to be purposefully based on incorrect information - even if the information happens to be bullish.   

In that regard, there is NO credible news or information that Coinbase is making some major or large purchase of BTC in the next 1 or 2 days.  If there is such news, I would like to hear what that is (besides the message that they provided to users on Sunday about being out of BTC). 

ok just checking...

and thank you for correcting any misinterpretations of things.

there's some truth to it, coinbase did run out.

Instead of pausing buys entirely, we decided to give people the option to purchase bitcoin at the market price in a few days. Once your USD funds arrive, we will exchange them to bitcoin at the market price at approximately Friday Aug 22, 2014 at 11:04PM PDT.

I received that same message from coinbase, too.  It is a standard message that Coinbase sends out when they run out of coins.  Frequently, such a similar message will last for shorter periods, but on Sunday morning, the message remained for nearly 5-6 hours b/c coinbase was out of coins for that whole period of time.  But that message in NO way implies that coinbase was going to stock up on coins on friday, August 22.... In fact Coinbase could obtain coins anytime between Sunday (when they ran out) and the friday August 22 (when they promised to have sufficient coins available for purchase).

[kodtycoon]

Explanation

Dang! Another hole, at the same time of this drop too... mmmmmm better switch paranoid mode off.

It's 3D model... you get it ?

what are the gaps in the chart about? iv never got what thats about?

[blaaaaacksuit]

i see dead bitcoins ... and dead bitcoin exchanges ... on falling prices too no less.

counterparty risk rising.

Care to elaborate?

[grappa_barricata]

Explanation

Dang! Another hole, at the same time of this drop too... mmmmmm better switch paranoid mode off.

It's 3D model... you get it ?

what are the gaps in the chart about? iv never got what thats about?

The depth in a side or another suddenly decrease, leaving a visible gap that then perspective make more evident.

[ChartBuddy]

Explanation

[oda.krell]

Personally i find all this bull/bear dichotomy utterly ridiculous.
Either you are here because you believe in the potential of the technology, or you are here because you are interested in the markets.
In the former 'bull' is the only appropriate description. In the latter the description is meaningless.

It is a useless dichotomy if you try to fit everyone (or every post) into it. However, there are posters in here that I believe genuinely fall into one of the two categories, in the sense that their position (at least as they express it in here) doesn't change one bit no matter what actually happens in reality. I feel it makes sense to refer to those as "bulls" or "bears" respectively.

[JayJuanGee]

No its not sad, its just typical. Greed caused them to miss the good buying opportunity and now they dwell in delusion that it was not a greed but a "smart move" to wait. Deep inside they are shaking in fear, but mask it with retarded smiley spamming ( etc.) to fake confidence.

The same could be said about the most aggressive of bulls during a price decline and subsequent flash crash, no?

Same denial, same greed, just applied in the opposite direction.

You frequently come out with these equivalency arguments, which are largely overstated.

Bears and bulls are NOT the same (opposites). Even though there may be some truth to your assertions of equivalency, that seems to be much too simplistic of the difference description.

Well, that's how I see the two sides. I somewhat prefer the (positively oriented) enthusiasm of the real bulls over the feigned concerns of the fake bears (who only plan to re-buy cheaper), but that wasn't the point I made -  I pointed out that both the self proclaimed bulls and the obvious bears regularly show extreme greediness, and both often appear delusional if the market runs against their position. That's the similarity I see, but feel free to exclude yourself from the observation if you believe you don't act like that.

O.k.  Fair point about the observation NOT necessarily applying to everyone of either category. 

By the way, I am NOT responding based on any personal offense.. just my thoughts about over generalizations.

[JayJuanGee]

[...]and dead bitcoin exchanges[...]

i definitly agree to that, but soon we will have decentralized exchanges popping up everywhere x)

Don't hold your breath!!!!   

[adamstgBit]

you can't take anything said here seriously

its a troll box.

an escape where like minded people come up chit chat about bitcoin.

sometimes the discussions are serious, but more often its just for shits and giggles  

[adamstgBit]

market should hold here for a while clearly its a sticky price.

place your bets!

[adamstgBit]

who votes "wait what you guys like coins?"

[ChartBuddy]

Explanation

[thefunkybits]

market should hold here for a while clearly its a sticky price.

place your bets!

Indeed! the stability here is a great sign

I still think a retest of $500 is entirely possible this weekend though...

[grappa_barricata]

If i go to sleep i know this will happen:

So, profit taken, and good night!

[adamstgBit]

market should hold here for a while clearly its a sticky price.

place your bets!

Indeed! the stability here is a great sign

I still think a retest of $500 is entirely possible this weekend though...

but coinbase should have a fresh wad of fiat ready to go and taking orders again, tomorrow.
and this is the settled price for the whale eat whale move we just had, moving away in any direction seems unlikely, we maybe stuck here so long as vol keeps coming.