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

[seleme]

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.

I don't see where the insult is if you are acting independently using your own intelligence

It is, I hate when someone think I'm stupid. 'cause I'm not 

[QuestionAuthority]

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?

Is that from the bible? lol

I spit out my tea. rolf

[molecular]

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. 

maybe you're betting on the wrong horse again. (not saying). reminds me of rock-paper-scissors. Mr. Market is out to screw you psychologically.

[Loozik]

Shit,

I had my buy order at $88.68. The low was at 88.75. I missed the price by $0.07

 

You were lucky ... you can buy lower soon

True 

[molecular]

... 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.

one of the best investment advice I've heard. a little hard to parse, though.

[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?

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. 

maybe you're betting on the wrong horse again. (not saying). reminds me of rock-paper-scissors. Mr. Market is out to screw you psychologically.

If you saw the bear coming since mid April and acted accordingly (selling), you definitely got right the trend and you are now doing well. If by chance the trend reverses right now, you can still buy back at a significant profit, ending up having much more coins than you would have by holding.

[derpinheimer]

Shit,

I had my buy order at $88.68. The low was at 88.75. I missed the price by $0.07

 

You were lucky ... you can buy lower soon

True 

16:14:37   88.67825   0.0164
16:14:37   88.68887   0.0201
16:14:37   88.68990   0.0102

I didnt know you were a bot!

[QuestionAuthority]

Shit,

I had my buy order at $88.68. The low was at 88.75. I missed the price by $0.07

 

You were lucky ... you can buy lower soon

True 

16:14:37   88.67825   0.0164
16:14:37   88.68887   0.0201
16:14:37   88.68990   0.0102

I didnt know you were a bot!

Damn, that's scary. 

[Jaroslaw]

88$ the last bastion of bitcoins bulls

[Dalib]

Shit,

I had my buy order at $88.68. The low was at 88.75. I missed the price by $0.07

 

You were lucky ... you can buy lower soon

True 

16:14:37   88.67825   0.0164
16:14:37   88.68887   0.0201
16:14:37   88.68990   0.0102

I didnt know you were a bot!

Damn, that's scary. 

bots discuss with bulls and bears - that's the matrix 

[seleme]

I miss those MtGox lagging crashes, those were the times 

[telemaco]

I am mostly out of BTC but still have some on ASICMINER that seems to resist pretty well and even work like some kind of hedge against bitcoin lower values. The lower bitcoin goes, the higher the ASICMINER share. I have calculated and a 20% down on BTCUSD would need a 24% increase on ASICMINER share to have both the same value in USD
With that data it might be interesting maybe to sell the shares and even if they get a higher valuation you would also be able to buy more BTC at a lower price being able to buy more shares lately. I am not taking in account here that ASICMINER shares are starting to look quite bubbleish to some people and they have a bigger inherent risk than bitcoin itself. Maybe i should sell the shares after all.

Any opinion on this?

[seleme]

I wish I could know what those that are buying AM shares at this price are taking 

Though I'm saying that since the price was around 1BTC so...

[klee]

I am mostly out of BTC but still have some on ASICMINER that seems to resist pretty well and even work like some kind of hedge against bitcoin lower values. The lower bitcoin goes, the higher the ASICMINER share. I have calculated and a 20% down on BTCUSD would need a 24% increase on ASICMINER share to have both the same value in USD
With that data it might be interesting maybe to sell the shares and even if they get a higher valuation you would also be able to buy more BTC at a lower price being able to buy more shares lately. I am not taking in account here that ASICMINER shares are starting to look quite bubbleish to some people and they have a bigger inherent risk than bitcoin itself. Maybe i should sell the shares after all.

Any opinion on this?

Sell

[klee]

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.

I don't see where the insult is if you are acting independently using your own intelligence

It is, I hate when someone think I'm stupid. 'cause I'm not  

Who thinks you are stupid ? Let it wash over you dude  

Thing is, most people here own Bitcoins, so whenever the price goes down those who value them in fiat terms feel pain. Those who truly value them as long term holdings / as 'number of coins held' should, in theory see it as an opportunity to buy more. Speculators see it as just another move to trade. From this simple analysis, it's pretty clear to me the the negative vibe when we go down is caused by those who feel like they are losing money ... people who claim to be 'all about coins' but in reality are not. They are the ones causing the friction through their own internal conflicts.

To those people I say, GET SAVVY, DO ANALYSIS. LEARN WHO TO LISTEN TO AND HOW TO TRADE IN ORDER TO ACCUMULATE MORE COINS ...DON'T TAKE IT OUT ON THE REST OF US COS JUST YOU AIN'T GETTING RICH QUICK ENOUGH

Gimme fiat and I will buy

[seleme]

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.

I don't see where the insult is if you are acting independently using your own intelligence

It is, I hate when someone think I'm stupid. 'cause I'm not  

Who thinks you are stupid ? Let it wash over you dude  

Thing is, most people here own Bitcoins, so whenever the price goes down those who value them in fiat terms feel pain. Those who truly value them as long term holdings / as 'number of coins held' should, in theory see it as an opportunity to buy more. Speculators see it as just another move to trade. From this simple analysis, it's pretty clear to me the the negative vibe when we go down is caused by those who feel like they are losing money ... people who claim to be 'all about coins' but in reality are not. They are the ones causing the friction through their own internal conflicts.

To those people I say, GET SAVVY, DO ANALYSIS. LEARN WHO TO LISTEN TO AND HOW TO TRADE IN ORDER TO ACCUMULATE MORE COINS ...DON'T TAKE IT OUT ON THE REST OF US COS JUST YOU AIN'T GETTING RICH QUICK ENOUGH

I can deal with such posts from relative newcomers but was surprised reading Blitz last few days to be honest. He should be better than that, if I only adopted BTC in time he did, I'd make a monument for it 

[Dalib]

Shit,

I had my buy order at $88.68. The low was at 88.75. I missed the price by $0.07

 

uups, you have cheap coins ...

[Loozik]

Shit,

I had my buy order at $88.68. The low was at 88.75. I missed the price by $0.07

 

You were lucky ... you can buy lower soon

True 

16:14:37   88.67825   0.0164
16:14:37   88.68887   0.0201
16:14:37   88.68990   0.0102

I didnt know you were a bot!

Damn, that's scary. 

bots discuss with bulls and bears - that's the matrix 

I am a talkative sort of a bot 

[sarc]

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.

jeez, I didn't refresh blockchained for a few hours and missed 20% of all dollars get wiped from the order book. edit: to clarify, about 20% of all USD on the order book is waiting for sub $26 coins. I was half right 

[seleme]

Houston, we might have some problems here