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

[ChartBuddy]

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[hmmmstrange]

A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY!

this is either extremely crazy good stuff or a very well-executed scam.

Mastercoin, in my opinion is the next logical step of building an asset ledger on top of bitcoin's blockchain (without determent to bitcoin). This solution may not be the holy grail but will certainly advance the development of new, secure, property ownership and transfers. I think of it as ripple++ on top of bitcoin with endless possibilities.

disclaimer:
I have no relationship with J.R. and have no knowledge of his trust worthiness. After reading the white paper and re watching his seminar at Bitcoin 2013 I have invested a very small amount which may or may not be proceeds from the "ripple giveaway".

[vokain]

A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY!

this is either extremely crazy good stuff or a very well-executed scam.

This is the first development after bitcoin that has really caught my attention. While I don't fully understand its mechanics yet, I do understand its role. Need more time

[ChartBuddy]

[ChartBuddy]

[gizmoh]

A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY!

this is either extremely crazy good stuff or a very well-executed scam.

This is the first development after bitcoin that has really caught my attention. While I don't fully understand its mechanics yet, I do understand its role. Need more time

1 BTC says its an epic fail. I only skimmed the white paper, but the paper plus the content of dacoinminster posts imply to me this is not an idea ready for release...

Agreed, he says he is a software developer so why is he marketing his idea like a salesman, asking for funding instead of actually writing the code!

[vokain]

I think instead of providing the source now, he wants to preserve his first-mover advantage, understandably. For the funding, I think it's the things after he creates his mastercoin layer that would give mastercoin utility and worth, which he needs funding for.

This is all speculation, as I don't understand the mechanisms yet, I'm asking for clarification on the issues I don't understand

[ChartBuddy]

[ChartBuddy]

[ChartBuddy]

[oda.krell]

[...]

Sure, it was only supposed to be indicative.

The volume has fallen at each buying period. The below shows it more clearly:



Anyway, it will be interesting to see how it pans out.

Not being snarky, but honestly wondering: That H+S pattern didn't materialize, right? Or is there something like a double right shoulder?!

[ardana123]

it's a left triple kneecap

[oda.krell]

it's a left triple kneecap

I see. Another TA denier :P

[ChartBuddy]

[Traktion]

[...]

Sure, it was only supposed to be indicative.

The volume has fallen at each buying period. The below shows it more clearly:



Anyway, it will be interesting to see how it pans out.

Not being snarky, but honestly wondering: That H+S pattern didn't materialize, right? Or is there something like a double right shoulder?!

Correct. Even a perfectly formed H+S pattern may not complete, but statistically, it usually does.

I played the head and the right shoulder and made a small profit, but the dip after the right shoulder didn't materialise.

[gizmoh]

Reporting on Gox Hiatus:

http://blogs.wsj.com/moneybeat/2013/07/30/bitcoin-exchange-mt-gox-still-grappling-with-slowdown/

No concrete explanation so far.

[ChartBuddy]

[prof7bit]

[...]

Sure, it was only supposed to be indicative.

The volume has fallen at each buying period. The below shows it more clearly:



Anyway, it will be interesting to see how it pans out.

Not being snarky, but honestly wondering: That H+S pattern didn't materialize, right? Or is there something like a double right shoulder?!

A H&S pattern is only valid if everybody can see it in the chart immediately (without having to stare at the chart for 2 Minutes and then still not seeing anything even remotely looking like a H&S). Where exactly do you see a H&S in the above chart?

[oda.krell]

@prof7bit

I guess you're asking Traktion, since he suggested the pattern, but even though I didn't agree with him, your "find in less than 2 minutes" criterion is a bit unfair. Depending on how well trained you are, it could take you 30 seconds or 20 minutes to find a pattern, irrespective of whether it is really there or not.

When Traktion first posted, he also had a 15 min view. I'm not experienced in determining candlestick patterns, but I *could* see how (on the 15 min view) a left shoulder and a head had materialized, and a right shoulder was possibly forming.

I mainly disagreed because of the volume acting atypical.

[ChartBuddy]