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

[barbs]

One thing i've learned over the past few months here is most people on this forum don't know what they're talking about, and reading this fud does more harm than good.  There is still opportunity to make money and have fun trading btc today.

One thing I've learned over the past few years here is that some will continue to discard everything as FUD, even when it's looking them straight in the eyes.

You aren't exactly helping, you've been absolutely negative for weeks.  I've made money in the meantime, don't worry about me, thanks.

[N12]

One thing i've learned over the past few months here is most people on this forum don't know what they're talking about, and reading this fud does more harm than good.  There is still opportunity to make money and have fun trading btc today.

One thing I've learned over the past few years here is that some will continue to discard everything as FUD, even when it's looking them straight in the eyes.

Normalcy behaviour. However, I see people are already looking for someone to shift the blame to. Damn speculators. Damn forum posters posting negative things.

[Richy_T]

A truly functional cryptocurrency would have a definite rate of inflation to make sure people aren't just sitting on them.

A truly functional currency of any kind allows people to decide for themselves how best to utilize it and doesn't try and manipulate them into any prescribed set of behavior.

Or have we missed the various bubbles and misery from the ensuing crashes that fiat inflation has caused?

[Frozenlock]

Exactly. A mod on a bitcoin forum spreading fud is ridiculous. And not just any kind of fud but totally insane predictions trying to scare new people.
I hope his mod status will be taken away asap.

Au contraire, I find that a mod able to see other thing than "up Up UP" is far less dangerous.

[Richy_T]

Currency is an investment, why else have it?

Currency is a tool to make transactions replacing the old Barter system.  This is why all currencies moved off of the gold standard a long time ago.

The more I watch these swings, the more I realize we need inflation.

Heck, if you want, I can write you a piece of software that will siphon 3% of your bitcoins off to me each year. Then you should be good, right?

[Miz4r]

Well, I understand we all want to make our bitcoin positions better but it's still sad to see what we've became.. we supposedly want bitcoin to be mass adapted yet we are happy it's crashing and people losing belief in it..

Greed is some bad bastard, it could break our heads at some time  

The problem is that since there is a fixed amount of BTC, it incentivizes people to hoard it.  Which then causes them to panic dump it when the price falls.  What we need is a cryptocurrency with enough inflation to deincentive saving (hording).

Go buy Freicoin then.  I won't be joining you since I don't like to buy depriciating assets...

Well, that's the point.  You're not supposed to want to buy a currency as an investment - that defeats the point of a currency.  That's why BTC being "more like a commodity" is exactly why it has these giant swings.  The point of a currency is to facilitate transactions, not to provide a return to speculators.  No one should be hoarding them, they should be investing / spending them.

A truly functional cryptocurrency would have a definite rate of inflation to make sure people aren't just sitting on them.

Who are you to decide what people are supposed to do or not to do with a currency? Some people save them, some people spend them, and most will probably do both. Why would any of these things be a bad thing? If people want to sit on them let them sit, why do you care?

[QuestionAuthority]

Exactly. A mod on a bitcoin forum spreading fud is ridiculous. And not just any kind of fud but totally insane predictions trying to scare new people.
I hope his mod status will be taken away asap.

Au contraire, I find that a mod able to see other thing than "up Up UP" is far less dangerous.

He's not a bad mod . Have you read moonshadows posts!

[N12]

What some of you guys need to understand is that your stance bullish/bearish can diverge on different timeframes. It's not "us" vs. "them", this isn't soccer or war.

If you don't care about neither the short nor the mid term trend (say, months ahead), then quite honestly you shouldn't even be reading the speculation forum because it will only serve to distract and distress you when the shorter term trend diverges. If it's not fun, what's the point?

[sarc]

all this excitement (and bitching) is great fun, but we're still at disappointingly giddy heights...

[Frozenlock]

"Time since time began"

Lol!
I too find it much more meaningful than an arbitrary date based on a religion.  

[QuestionAuthority]

all this excitement (and bitching) is great fun, but we're still at disappointingly giddy heights...

Nobody's ever gonna buy that $26 shit

[crumbs]

Exactly. A mod on a bitcoin forum spreading fud is ridiculous. And not just any kind of fud but totally insane predictions trying to scare new people.
I hope his mod status will be taken away asap.

Au contraire, I find that a mod able to see other thing than "up Up UP" is far less dangerous.

Read that 3 times before getting it.  Too many negatives

[Dalib]

God, I'm tired of watching this! Someone just PM me when it's time to buy. lol

ok when we have bought, we'll send PM you to, you bought from us. LOL  

Now I don't trust ya. Lol  driving its hard to respond.  

Of course, it was just a joke from me  

[sarc]

all this excitement (and bitching) is great fun, but we're still at disappointingly giddy heights...

Nobody's ever gonna buy that $26 shit

I question the authoritativeness of that statement.

[QuestionAuthority]

all this excitement (and bitching) is great fun, but we're still at disappointingly giddy heights...

Nobody's ever gonna buy that $26 shit

I question the authoritativeness of that statement.

rolf

[JimboToronto]

I missed the excitement a couple of hours ago because I was watching the baseball game, but it makes me think about the similarities between this forum and many baseball forums. The self-styled "knowledgeable baseball people" all look down their noses at "casual bandwagon fans" and go out of their way to show everybody that they're not "homers". The self-styled "real fans" are appalled that anyone could have the audacity to diss their beloved home team on their own board, even when they've just played a horrible game.

Human nature I suppose.

[Frozenlock]

What some of you guys need to understand is that your stance bullish/bearish can diverge on different timeframes. It's not "us" vs. "them", this isn't soccer or war.

If you don't care about neither the short nor the mid term trend (say, months ahead), then quite honestly you shouldn't even be reading the speculation forum because it will only serve to distract and distress you when the shorter term trend diverges. If it's not fun, what's the point?

I found it hard in 2011 to accept that the price of Bitcoin, the most important human invention since fire, could go down.

"But, but, it's the future! How can it go down?!"

I learned the hard way that the market doesn't care what you think, nor does it move in straight lines.


This time, I fully embrace the bear in me. 

[Rampion]

Don't quite agree, bubble brought loads of publicity bitcoin wouldn't get otherwise so it was good thing. Some got burned, some came to stay.

And crash is not problem or correction or whatever we call it, I'm talking about people being happy and pushing for it. Like Blitz for example - moderator on main bitcoin forum, just look at his posts since he sold. He was nowhere to be seen here but last few days can't stop posting same stuff.. If crash is something that is supposed to happen, I really don't think long time Bitcoin backers should publicly be happy about it, it's an awful thing to read by some noob who's considering going into cryptocurrency.

Kinda lame but I guess that's how it is..

First, if you are "happy" or "unhappy" about price going up or down, you are probably being too emotional. You are not happy or unhappy because its 3AM and there is no sun, it is what it is and its not under your control - full stop. Secondly, what you wrote about a downtrend "being bad for the n00bs" is utter bullshit, I hope you don't really believe that crap. When I first learnt about Bitcoin, I read about it. I learnt about previous history, previous bubble, and one of the very first things I understood about Bitcoin is that it is scarce by design, is a commodity-like asset and thus is prone to speculation and wild volatility, especially at this early stage. If you are thinking about investing in Bitcoin and didn't understood that, you should stop and read more before you spend a penny on it. Because if you don't like to invest in such an unstable asset, you should really invest in a different, risk-averse asset, or in a coin with demurrage built in it like frecoin or the likes.

People should learn this: BITCOIN IS PRONE TO BOOM AND BUST CYCLES. Especially at this stage. Its one of its core characteristics. That's why you could buy it for $13 in January, and it was traded at $266 in April. You do not need to be a genius to see that, while au contraire you need to be a delusional fool to believe in the delusional "singularity" crap.

Thirdly, since I was a n00b and entered the Bitcoin market for the first time, I was happy about dips, because they are expected and are just a buy opportunity, because fundamentals remain the same regardless of the exchange rate. Thus, this is an excellent time to learn about the market. I had money in the exchange when the crash from $266 started... And that was very good for me, because I was able to buy much cheaper coins.

About Blitz: he has provided both well reasoned and experienced insights, you are not paying attention if you are just reading the occasional "trolling". Which, I have to admit I also enjoy, because I find it has an entertaining sense of humour. I admit I also enjoy Adam's "bullish trolling", but I guess this is a more popular statement, as what people seems to not tolerate well is bearish analysis, that seems to trigger massive amounts of butthurt.

[sarc]

all this excitement (and bitching) is great fun, but we're still at disappointingly giddy heights...

Nobody's ever gonna buy that $26 shit

I question the authoritativeness of that statement.

rolf

About 40% of the cash on the Gox books is waiting for sub $26 bitcoins...

[Rampion]

What some of you guys need to understand is that your stance bullish/bearish can diverge on different timeframes. It's not "us" vs. "them", this isn't soccer or war.

If you don't care about neither the short nor the mid term trend (say, months ahead), then quite honestly you shouldn't even be reading the speculation forum because it will only serve to distract and distress you when the shorter term trend diverges. If it's not fun, what's the point?

This is also true, you have been a bull many times in the past, and in fact you confronted the real "FUD spreaders" (Nagle? ) in epic battles

I guess people like Shroomskit should dig a bit and learn about the past.