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

[billyjoeallen]

Volume has gone to crap, but again we have done our job. We have eaten all the volatility for the time being.
Everyone is expecting the Sunday night bump (I am also), but what if we don't get much of one?

The problem with expecting something good is that there are no surprises to the upside. So are we getting this low volume melt up as a prelude to dumping like on Dec 2, or the first rumblings of a breakout? I'm net long but hedged short, so I don't really care. It will be interesting to watch.

Yeah, that's not how it works, unless you balanced it out completely.

Care to give us a rough idea of the ratio of one to the other? That should determine sort of how much you care which way it breaks out.

My long is several times my short position, but that's in cold storage and I won't touch it for years if we don't get another bubble until then. If I'm wrong and we go up from here, there's plenty of time to cut my losses before I get a margin call. This loss of upward momentum indicates that it is likely to go down before it goes up much. I could be wrong, but I'm confident enough to bet about a year's salary on it. Even if we get a retest of the bottom, it may not hold. So far this is playing out more or less exactly how I expected. Time will tell.

I would caution anyone to not do something only because I am doing it. I have a excellent track record as an investor but I'm not very good at day trading. I've identified a pattern in the charts, but patterns repeat until they don't.

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[ChartBuddy]

Explanation

[greenlion]

Satoshi has been found...again! and arrested, too! SELL! SELL! SELL!

http://nationalreport.net/bitcoin-satoshi-nakamoto-arrested-identity-revealed/

It is a joke article made for a joke site.


Just in case some people don't read the full article

I did read it but couldnt find any of these jokes!

[jaberwock]

Satoshi has been found...again! and arrested, too! SELL! SELL! SELL!

http://nationalreport.net/bitcoin-satoshi-nakamoto-arrested-identity-revealed/

It is a joke article made for a joke site.


Just in case some people don't read the full article

I did read it but couldnt find any of these jokes!

Article has been posted in the main forum:

https://bitcointalk.org/index.php?topic=885254.0

It is fake

[DaRude]

Satoshi has been found...again! and arrested, too! SELL! SELL! SELL!

http://nationalreport.net/bitcoin-satoshi-nakamoto-arrested-identity-revealed/

It is a joke article made for a joke site.


Just in case some people don't read the full article

I did read it but couldnt find any of these jokes!

Article has been posted in the main forum:

https://bitcointalk.org/index.php?topic=885254.0

It is fake

"“FBI agents just stormed the building, came in here without a search warrant or anything,” Fappy The Anti-Masturbation Dolphin, a mascot for the group, told CNN."
sounds legit to me

[phoenix1]

"“FBI agents just stormed the building, came in here without a search warrant or anything,” Fappy The Anti-Masturbation Dolphin, a mascot for the group, told CNN."
sounds legit to me

So, was he arrested for messing with the dolphin in an un-Christian way ?

Not sure I understand all this. Would blowing the dolphin have been ok ? Or is it just masturbation that is illegal? And is mutual masturbation banned or just the solo-stuff ?

 

[hdbuck]

"When I was poor and I complained about inequality they said I was bitter, now I'm rich and complain about inequality they say I'm a hypocrite.
I'm starting to think they just don't want to talk about inequality."

~ Russel Brand

[phoenix1]

"When I was poor and I complained about inequality they said I was bitter, now I'm rich and complain about inequality they say I'm a hypocrite.
I'm starting to think they just don't want to talk about inequality."

~ Russel Brand

While hosting the 2008 MTV Awards in LA, Russell Brand called George W Bush "a retard cowboy fella".

Mr Brand added: "It was nice of you to let him have a go, because, in England, he wouldn't be trusted with a pair of scissors."

 

[ChartBuddy]

Explanation

[Kanapka]

"When I was poor and I complained about inequality they said I was bitter, now I'm rich and complain about inequality they say I'm a hypocrite.
I'm starting to think they just don't want to talk about inequality."

~ Russel Brand

just don't care too much about what people think and you will be fine

[octaft]

"“FBI agents just stormed the building, came in here without a search warrant or anything,” Fappy The Anti-Masturbation Dolphin, a mascot for the group, told CNN."
sounds legit to me

So, was he arrested for messing with the dolphin in an un-Christian way ?

Not sure I understand all this. Would blowing the dolphin have been ok ? Or is it just masturbation that is illegal? And is mutual masturbation banned or just the solo-stuff ?

 

Probably arrested for self-rape.

[NotLambchop]

...
You think the averge paycheck will be 4 times bigger in 10 years?

If the inflation is high enough to devalue the dollar by 75% (your candy bar example, and just a touch more than what happened to BTC this year), absolutely.  The chart you have posted not only agrees with my expectations, but suggests that in such a scenario, income would MORE than quadruple.
That's why it's important to *understand* the charts you post.

Is there a single person on this thread that has 10% pay rise year on year?  Footballers, ceo's and politicians... anyone else?

Not sure, I find it difficult and unpleasant to imagine what you Bitcoiners do for work.
But I know that a candy bar which cost $1 ten years ago does not cost $4.  According to this,


... it costs just $1.26.

I was just entertaining your hypothetical

Are you beginning to realize how important it is to know what you're talking about before typing?

I don't live in the US, so I can't say if your 0.26 cent increse over 10 years is realistic or not. It's certainly not true of the UK, a 200g Galaxy bar was £0.85 in 2004 and now it's £2.00.

We're talking about real currency here, the US dollar.  If you wanted to discuss GBP, why use $ in your candy bar example?

The last 10 years just gone, were just a taste. The calcultor doesn't cater for 3 very important factors the future has in store for the world ecconomy.  World popluation is rising (fast), arible land is declining (fast) and mechanization is increasing.

Southern Europe is alredy experiencing youth unemploment of over 50%, with little hope of a turn around.  Jobs creation in some parts of the EU is increasing, however the vast majority are lower paid jobs.  Some parts of the EU population have lower wages year on year.  Spain 10% lower, greece is similar.  Wages are falling.  Take Russia, people still on the same wages and the ruble is 40% lower compared to Euro, Pound and Dollar.  Prices are going up everywhere and wages aren't, you can't argue with that.

Don't cherry-pick your data.  The unemployment rate in UK, where you live, is...



The average income has been growing steadily, here:



Doesn't seem like you're starving.

Take the $1 choclate bar example,  in 2024 will it cost over $4? Probably.   Will my wages be 4 x higher?  absolutely not.
http://blog.ccberries.com/2011/03/09/libya-and-ivory-coast-gas-and-chocolate/

http://www.nasdaq.com/markets/cocoa.aspx?timeframe=10y

Lol, I thought you were using the candy bar as a hypothetical, but you're ...calculating inflation/standard of living by coco prices? Not basket of goods,, like sane people?
Why not offer a more compelling example?  Here, I'll even do it for you:

"On the first of this month, a Dec. 1 copy of the NY Times cost $2.50.  Today, if you wanted to buy that Monday copy, it would cost you ~$5.  If you could find it.  That's 100% WEEKLY inflation!  Burn your dollars!"

This is the best description of a Bitcoiner mind I've ever ran across.  This guy writes for teens, so you'll have no trouble understanding:

“I have never seen a more sublime demonstration of the totalitarian Bitcoiner mind, a mind which might be linked unto a system of gears where teeth have been filed off at random. Such snaggle-toothed thought machine, driven by a standard or even by a substandard libido, whirls with the jerky, noisy, gaudy pointlessness of a cuckoo clock in Hell.

The boss G-man concluded wrongly that there were no teeth on the gears in the mind of Jones. 'You're completely crazy,' he said.

Jones wasn't completely crazy. The dismaying thing about classic totalitarian mind is that any given gear, though mutilated, will have at its circumference unbroken sequences of teeth that are immaculately maintained, that are exquisitely machined."-- Kurt Vonnegut

[Jacksp]

Voted:

price on monday:
>390   - 56 (40%)
385   - 14 (10%)
380   - 14 (10%)
375   - 14 (10%)
370   - 6 (4.3%)
365   - 7 (5%)
<360   - 29 (20.7%)

[Assad]

People expecting a rise when some parts of the world is in holiday?

I doubt.

Maybe the next day after monday?

[criptix]

Tommorow its time for:

Duel of fates


who will be the glorious winner?

the insane bulls or the retarded bears?  


/edit

what holidays tommorow? did i miss something....

[phoenix1]

Tommorow its time for:

Duel of fates


who will be the glorious winner?

Many shall fall, but none will be forgotten

This is revving up to be so anti-climactic lol

[hmmkay]

Such effort!  

Let me simplify it for you.
One use to be able to support a big family on a one man's salary.
A few decennia has passed and this is impossible unless you have a top income.

[NotLambchop]

^

Bro, this is such tripe.  If you can't support a big family, don't breed--it's not like the world needs more people.
Problem solved. Ur welcome.

[inca]

Such effort!  

Let me simplify it for you.
One use to be able to support a big family on a one man's salary.
A few decennia has passed and this is impossible unless you have a top income.

Bro, this is such tripe.  If you can't support a big family, don't breed--it's not like the world needs more people.

It isn't tripe. In the 1970's in the UK and US a single working male wage in an average job allowed the purchase of a house, car, holidays etc. Now the same lifestyle requires two working salaries. Housing in the UK is the main reason as the banks have allowed prices to soar far above where they should be, and the government have intervened to keep prices sky high. My partner and I both earn easily more than twice the national median wage but buying a decent house is almost out of reach. Thirty years ago we would have been extremely well off.

[Thomas-s]

The next 24h are going to be critical™. (This time for real)