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

[nmersulypnem]

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.

Bingo.  Key word here is ANALYSIS.  I find random pictures of rocket ships and cats jumping off walls to be equally useless.  Mature investors are willing to discuss both sides of coin as long as see thoughtful analysis put in front of them.  There is money to be made moving up and down for the savy trader.  Only a cheerleader just wants to hear things that make them feel better.

[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

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

I believe you but that doesn't mean it's ever happening.

[Dalib]

... Only a cheerleader just wants to hear things that make them feel better.

+1 I bull and I did not like the bearish mood. Then I learned to count how many win when you meet it, what I hope, but what I lose when it will not. According must divide when and how to sell and buy.

[derpinheimer]

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...

What? Like 15% is..

[zemario]

Alright, I'm sick of that silly graph with the prive layed on a scale of "time since began".

That f.king graph has been posted every 8 hours or so since the a couple of weeks after the last  burst. Gee, I get it, a few folks heard about this 'logarithmic scale' thingy and now they think they are Albert Einstein. Sorry to burst your bubble (pun intended) but most of the people in here went to school.

Why would you post plots that are factually wrong?

[klee]

If 88$ is broken then where we stop? Too bored to make it a new poll topic...

Disclaimer: I am out of BTC but I don't want it to continue dropping like this because I want buy ASICs (again)..

[lucas.sev]

Was this 8k wall at 90 pulled or eaten?

[seleme]

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..

Obviously anyone wanting the price of bitcoins to fall is a speculator and not a Bitcoin person.

In fact from what I've seen, both sides tend to look down at each other. Bitcoiners look down on speculators as moron gamblers, while speculators look down on Bitcoiners as cultists.

This being the speculation folder in a Bitcoin forum, there's an inherent conflict of interest present.

Don't worry. Once the speculators have re-bought, they'll be more pro-Bitcoin than the most rabid Libertarian or crypto-geek.

In the meanwhile, every day more businesses start accepting bitcoins and Bitcoin-related startups get closer to opening for business. When was the last time any merchant announced that they were discontinuing accepting bitcoins?

I'm both Bitcoiner (and altcoiner as well) and speculator. There are times when I want coins to go down and there are times when I want them to go up. It's natural stuff and I don't have problems with people feeling the same.

But I really, really don't like a fud and people repeating themselves in fud many times. It's an insult to my intelligence to see that someone think I should be reminded we're in bearish market and that someone think his fud posting will make me sell if I don't want to.

But fuck me, I'm not important at all, I'm in crypto to stay, even if bitcoin would be 1$ each, I've put all my price fears to fear grave and I'm kinda managing to hide myself into other coins when btc is in problems but it's not nice stuff to be read when you're new here and completely confused and scared by each price move.

[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...

What? Like 15% is..

It's possible I'm being a fuckwit, it wouldn't be the first time, but please explain...?

[ChartBuddy]

[molecular]

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).

Oh yeah. I love inflationary currencies... I just don't usually hold them for long. Maybe saving can be a good thing, too?

[David M]

Weekly with a 3 month Exp average and 20 MA channel.

Back into the channel we go.

[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.

Bingo.  Key word here is ANALYSIS.  I find random pictures of rocket ships and cats jumping off walls to be equally useless.  Mature investors are willing to discuss both sides of coin as long as see thoughtful analysis put in front of them.  There is money to be made moving up and down for the savy trader.  Only a cheerleader just wants to hear things that make them feel better.

This thread is 70% trolling and cheerleading, and 30% useful analysis. But IMO that mix makes it funny and enjoyable, and the very few completely useless and unbearable trolls (like jaroslaw and Coinseeker) can easily be put on ignore.

[molecular]

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.

Is that from the bible?

[prophetx]

Was this 8k wall at 90 pulled or eaten?

well judging that 15k+ traded in 60 seconds, down to 89, looks like eaten

[sarc]

Alright, I'm sick of that silly graph with the prive layed on a scale of "time since began".

That f.king graph has been posted every 8 hours or so since the a couple of weeks after the last  burst. Gee, I get it, a few folks heard about this 'logarithmic scale' thingy and now they think they are Albert Einstein. Sorry to burst your bubble (pun intended) but most of the people in here went to school.

Why would you post plots that are factually wrong?

I wouldn't.

[Jozzaboy]

It looks like the market is being manipulated lower to me. These walls keep appearing to kick down any rally before they can get a head of steam. One recently appeared at $89 to push us further lower.

Something is fishy here, I'm prepared for a coiled spring.

[seleme]

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.

I almost don't give a shit where price is going, let alone to not be happy about it. If it goes down, I'll sell or move to other coin I feel it might go up etc, and if it goes up I'm happy. Price is not something I care about as long as I follow it with proportional gain in coins. And even if I don't, it's something I won't lose lot of sleep about, I know very well where I am and all kind of options I could be faced with though I don't like missing opportunities..

What I don't like is negative atmosphere and people who are doing all they can and more to make it more negative. Though it doesn't necessary means I'm going to lose money, I could even make more in such atmosphere, as much as I'm speculator and trader I want to see many, many people joining us and strengthening the crypto community.

I don't think established, long time crypto supporters and holders should be ones that spread the negative atmosphere around. It's OK to give an opinion as much as bullish or bearish it is of course, but what Blitz fror ex. was doing last few days is far, far away from giving an opinion. It was kind of forcing his opinion to others in pretty aggresive and stupid way. That's what you expect from Jaroslaw from  bearish camp or rpietilla from bullish one, not from Bitcointalk moderator.

To da moon, and we're going to 0 is ok when you say it once or twice. When you keep repeating yourself it's boring as fuck.

[derpinheimer]

Was this 8k wall at 90 pulled or eaten?

Eaten during a [single] 15k sell.

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...

What? Like 15% is..

It's possible I'm being a fuckwit, it wouldn't be the first time, but please explain...?

lol. Well, you said 40% of the CASH/USD that is VISIBLE on the orderbook, is waiting for sub 26.

Total cash in orderbook: 9.5mill
Cash above 26: 7.8mill
Cash 26&below: 1.7mill
%USD below 26: 18%

Bids above 26: 140,000
Bids 26&below: 352,000 <- excluding [0, 1)
%BTC below 26:  60%

-----

On a side note, just hit new daily low of 88.70.

[Dalib]

If 88$ is broken then where we stop? Too bored to make it a new poll topic...

Disclaimer: I am out of BTC but I don't want it to continue dropping like this because I want buy ASICs (again)..

It is difficult to estimate. I think the price fall more deeply, but then the price will bounce back...