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

[ChartBuddy]

Coin
Explanation

[1715289077]

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[1715289077]

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[1715289077]

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[1715289077]

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[dragonseer]

The mods at /r/bitcoin are now deleting every post that mentions the existence of the "other" implementation of bitcoin, whatever the contents.  Dozens of posts that had hundreds of upvotes and hundreds of comments.  And banning users who defend it, too.

So much for the great age of freedom and stuff that bitcoin was going to bring.

Oh, and the bitcoin "news" webshites, like CoinDesk, have been as silent on the topic as any statist newsmedia would be.

I don't blame Coindesk for being silent on this one. They are advancing the cause of crypto currency, whereas this forking issue is just a bunch of hyenas. Bitcoin is 'not' a single solution to this digital currency space, and it is better off keeping its integrity while its utility evolves.

[billyjoeallen]

I love short sellers. Every short has to either cover and provide support or to get squeezed and spike into my sell orders.  We're seeing higher highs and higher lows on the daily chart, even if the moving averages look a little scary.  This fork controversy will get resolved eventually one way or another. Block size will be increased even with chain bloat because more and more of those "dust" transactions will be time stamps or colored coins representing title to something.  Processors are getting faster. Bandwidth is getting wider. Hard drives are getting bigger. It won't be an issue.

Meanwhile the fiat printers are printing, on-ramps for institutional investors are being built and the halving just gets closer.

You're gonna hold out that long?

These are day traders... make a few bucks and short attention spans. I'd be doing that too but I see too much potential. I'd rather hold calm for a 200$ trade instead of bust a sweat for a 20$ trade. And miss out on the way up. But there is quite a bit of opportunity... for some reason people are still seeming indecisive...

Either that or the Bitcoins are just being spent in retail.

It's the 3600 coin/day inflation that's putting the downward pressure on price. What's amazing is that there has been an average ~$1 million/day being pumped in to hold the price ever since the $166 bottom last winter.  Miners are selling all or almost all they mine. You gotta love the Chinese. On a macro level, they sell stuff at cost and then lend us the money to buy it. No way that can end well. I'm not just talking about bitcoin. All their exports. If you think about it, Chinese miners are using subsidized electricity so it's actually the Red Chinese government that are providing us all these cheap coins.  It's the only thing China actually sells that prolly won't be worthless in five years.

[brg444]

I love short sellers. Every short has to either cover and provide support or to get squeezed and spike into my sell orders.  We're seeing higher highs and higher lows on the daily chart, even if the moving averages look a little scary.  This fork controversy will get resolved eventually one way or another. Block size will be increased even with chain bloat because more and more of those "dust" transactions will be time stamps or colored coins representing title to something.  Processors are getting faster. Bandwidth is getting wider. Hard drives are getting bigger. It won't be an issue.

Meanwhile the fiat printers are printing, on-ramps for institutional investors are being built and the halving just gets closer.

You're gonna hold out that long?

These are day traders... make a few bucks and short attention spans. I'd be doing that too but I see too much potential. I'd rather hold calm for a 200$ trade instead of bust a sweat for a 20$ trade. And miss out on the way up. But there is quite a bit of opportunity... for some reason people are still seeming indecisive...

Either that or the Bitcoins are just being spent in retail.

It's the 3600 coin/day inflation that's putting the downward pressure on price. What's amazing is that there has been an average ~$1 million/day being pumped in to hold the price ever since the $166 bottom last winter.  Miners are selling all or almost all they mine. You gotta love the Chinese. On a macro level, they sell stuff at cost and then lend us the money to buy it. No way that can end well. I'm not just talking about bitcoin. All their exports. If you think about it, Chinese miners are using subsidized electricity so it's actually the Red Chinese government that are providing us all these cheap coins.  It's the only thing China actually sells that prolly won't be worthless in five years.

Do we have any proof of that? I'm really quite tired of seeing this assumption thrown around as fact...

[esse83]

No fiat hit bitstamp today Prepare for a week of shorters raping bulls. Liquidity has dropped by 50% on Bitstamp since the peak at $318 (3.3mill vs 1.58mill currently)

[ChartBuddy]

Coin
Explanation

[rebuilder]

No fiat hit bitstamp today

Based on orderbook? Or did I miss something?

[rebuilder]

webshites

Spending too much time here, Mr. Stolfi? The more unfortunate habits of the local fauna seem to be rubbing off on you...

[stereotype]

webshites

Spending too much time here, Mr. Stolfi? The more unfortunate habits of the local fauna seem to be rubbing off on you...

Tis the scourge of these threads. Those 'jaded' moments, gets to everyone who has spent too much time here, i think.
The trick is to know when one is speaking to oneself. 

[ChartBuddy]

Coin
Explanation

[Fatman3001]

I love short sellers. Every short has to either cover and provide support or to get squeezed and spike into my sell orders.  We're seeing higher highs and higher lows on the daily chart, even if the moving averages look a little scary.  This fork controversy will get resolved eventually one way or another. Block size will be increased even with chain bloat because more and more of those "dust" transactions will be time stamps or colored coins representing title to something.  Processors are getting faster. Bandwidth is getting wider. Hard drives are getting bigger. It won't be an issue.

Meanwhile the fiat printers are printing, on-ramps for institutional investors are being built and the halving just gets closer.

You're gonna hold out that long?

These are day traders... make a few bucks and short attention spans. I'd be doing that too but I see too much potential. I'd rather hold calm for a 200$ trade instead of bust a sweat for a 20$ trade. And miss out on the way up. But there is quite a bit of opportunity... for some reason people are still seeming indecisive...

Either that or the Bitcoins are just being spent in retail.

It's the 3600 coin/day inflation that's putting the downward pressure on price. What's amazing is that there has been an average ~$1 million/day being pumped in to hold the price ever since the $166 bottom last winter.  Miners are selling all or almost all they mine. You gotta love the Chinese. On a macro level, they sell stuff at cost and then lend us the money to buy it. No way that can end well. I'm not just talking about bitcoin. All their exports. If you think about it, Chinese miners are using subsidized electricity so it's actually the Red Chinese government that are providing us all these cheap coins.  It's the only thing China actually sells that prolly won't be worthless in five years.

Do we have any proof of that? I'm really quite tired of seeing this assumption thrown around as fact...

Miners are a diverse group. Some sell straight away, some hodl. Some dump on exchanges, some have other arrangements with investors who wants to buy without slippage. In any event, the fact that the market can't digest <3600 coins a day without sliding down is not encouraging.

[ChartBuddy]

Coin
Explanation

[cyclotronmajesty]

DAmn... just damn!




Even stranger is how it was only happening on one exchange: BTC-e the freak exchange of the internet.

Then when bitcoin dropped below 260... the stairway to heaven fell down.  

I dunno if that isn't manipulation I dunno what is.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[dreamspark]

DAmn... just damn!




Even stranger is how it was only happening on one exchange: BTC-e the freak exchange of the internet.

Then when bitcoin dropped below 260... the stairway to heaven fell down.  

I dunno if that isn't manipulation I dunno what is.

This is just what happens in low liquidity environments.

Big stop raids can also produce these kinds of spike when the liquidity isnt there.

This is why you dont often see such big percentage spike on other exchanges

[Erdogan]

Just a little story: You know running a node does not give you any block reward or fee, but as the market depends on psychical differences beween two choices, and the cost is low, some people run nodes anyway, and the reason is the psychical profit.

I had the opportunity to talk about bitcoin today, and I mentioned the number of nodes, the purpose of nodes, and that I run one of them.

- So you are one in 6000 of people running nodes?
- Yes.
- In the world?
- Yes.

Low profile bragging.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[JorgeStolfi]

I don't blame Coindesk for being silent on this one. They are advancing the cause of crypto currency

Riight... like Pravda was advancing the cause of communism... 

webšites

Spending too much time here, Mr. Stolfi? The more unfortunate habits of the local fauna seem to be rubbing off on you...

Hm, yes, I guess so...