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

[hdbuck]

ukraine true that would legalize bitcoin? This seems to be an effect on the market

Implement is a more relevant term than legalise. It's 'legal' almost everywhere.

It would be better if we say this: It's not illegal almost everywhere.

its legal-less everywhere.

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[kromtar]

Every global stock and commodity is gapping down, bitcoin slightly rising.

Bullish.

have you every look at a graph ?

Bitcoin is far far far far away from slightly rising...

Yep I have.  Hashrate continuing to climb steadily as well.

Double bullish.

True diff is rocketing, what will happen if diff double from here to halving?

Bullish as hell 

[findftp]

Every global stock and commodity is gapping down, bitcoin slightly rising.

Bullish.

have you every look at a graph ?

Bitcoin is far far far far away from slightly rising...

Yep I have.  Hashrate continuing to climb steadily as well.

Double bullish.

True diff is rocketing, what will happen if diff double from here to halving?

Bullish as hell 

I would not call this rocketing.



But hey, everything better than a fall.

[notme]

Every global stock and commodity is gapping down, bitcoin slightly rising.

Bullish.

have you every look at a graph ?

Bitcoin is far far far far away from slightly rising...

Yep I have.  Hashrate continuing to climb steadily as well.

Double bullish.

True diff is rocketing, what will happen if diff double from here to halving?

Bullish as hell  

I would not call this rocketing.



But hey, everything better than a fall.

Meh, we had a hashrate fall around the $2 bottom... then up to $260ish...  I say let's see miners capitulate.

[findftp]

Every global stock and commodity is gapping down, bitcoin slightly rising.

Bullish.

have you every look at a graph ?

Bitcoin is far far far far away from slightly rising...

Yep I have.  Hashrate continuing to climb steadily as well.

Double bullish.

True diff is rocketing, what will happen if diff double from here to halving?

Bullish as hell  

I would not call this rocketing.



But hey, everything better than a fall.

Meh, we had a hashrate fall around the $2 bottom... then up to $260ish...  I say let's see miners capitulate.

Meh, each hashrate decline has been smaller.
We've had one major fall mid 2009 and smaller fall end 2011/early 2012.
2014/2015 we've also had some hash rate decline but not so big because of stabilising prices and more professional miners



If there has to be some capitulation, it already happened imho.

[ChartBuddy]

Coin
Explanation

[JayJuanGee]

You seem much too sensitive, if you are understanding my prior response posts to be a name calling rants. 

In my earlier posts, I seem to be for the large part responding substantively to various points that you were making, and characterizing them as inadequate in a variety of respects, and to agree with you that your thinking seems to be much too simplistic if you believe that the main factors in determining direction of a market is its most recent price direction (even though sometimes you are going to be correct when you guess in that regard nonetheless, that analysis seems to miss a lot of nuances and a variety of factors that I referred to in my previous responses to you).

Too sensitive? Too emotional, too poor, too impatient, too ignorant. Yea who isn't?

It seems that we are repeating ourselves here a lot.... Yes, there is NO need to become so emotional regarding your bitcoin investment(s), and if you are very emotional, then that likely means that you are overly invested and have failed and/or refused to adequately consider your strategy (whether it fails or NOT).  Failure should NOT be an indication that it is time to become emotional, but instead maybe a time to reconsider your approach.

I'm saying the investment I made is a bad one. .
I'm saying it from my perspective. If it's good for you. Then good.
Obviously you're doing something i'm not. I'm just spending my money in time the way I see best.

Whatever I am doing is just mental, rather than getting all worked up about it and in order to say that the whole thing is bad.  Surely, actual investments are personal, but you are communicating on a public forum, and the extent to which you are all over the place in your logic is likely confusing for readers (to the extent that you may be genuine rather than merely trolling).

I wasn't even talking about whether the price goes up as a measure of good investment. While that was my first criterion, it's now changed.
My sole measure now is if I am making money, or at least breaking even.
So if I'm not. It's not a good investment.
FOR ME. For bitcoin and litecoin? I'm sure they're THRILLED i'm loosing money. It just means more for them.

The market as a whole is comprised of a whole lot of individuals, and you are correct to some extent that those who make money appreciate new investors because sometimes the irrational behavior of new investors, attempting to trade, makes it a bit easier for the more experienced investors (traders) to make money. I personally engage in very little trading because I find it so difficult to figure out the direction of the market... accordingly, my investment strategy has continued to be to merely buy and hold and continue to buy and hold and to hope in the long run, maybe several years, I will be sufficiently in the black in order to cash out all or part...or at least to be able to make withdrawals on an ongoing basis, so long as the asset continues to hold value.

Frankly I got into this not really knowing WTF I was doing. I'm just trying to go forward making mistakes, while I try to correct for them.
At first I didn't even know about longs and shorts. I traded at ANX.
I didn't know you could make money when the price is going down.
After I lost 65% on just buying litecoin with my money. (right before coming a inch of breaking even)
I figured I could try using leverage. So I made some money and then the price went down again.
Then I tried shorting. Made some then the price went up.
It's just splitting me apart. So i'm willing to pay for that, and accept the consequences.
If me and crypto are incompatible, I can accept that. I've learned a few things about trading in the mean time. I could have wasted the money on a DJ system or something. Probably wouldn't have learned anything.

There is NOTHING wrong with NOT knowing much of anything, so long as we attempt to learn lessons from our mistakes.  For example, let's say that you had $1000 that you could invest; however, if you recognize that you did NOT really know much of anything about bitcoin or trading etc etc, then you probably should have allocated less than $100 towards learning.. that way you would NOT have become overly invested or desperate when your trades were NOT going as you had planned.. and then you seemed to have been putting all your eggs in the basket and hoping for good luck... sometimes that good luck may happen, but if it does NOT happen, then you are left considering your backup plan and whether you learned anything from the situation or if you are merely going to employ, again, the same strategy because you are either desperate or greedy....   In other words, if you are acknowledging your lack of experience and lack of knowledge, then you should NOT be investing very much during your learning process... because learning should NOT have to cost so much as long as you are reflective upon your actions and really attempting to learn from your experiences...

[ChartBuddy]

Coin
Explanation

[macsga]

On other news, following the China motif, EU and now US stocks are plummeting. It seems we're in for a hell of a month gentlemen. I wonder how this will be interpreted for BTC...

The Dow Jones Industrial Average started off the month with a triple-digit tumble Tuesday as investors fled risky assets such as global equities following a fresh set of weak Chinese economic data.
China’s official manufacturing purchasing managers index fell to a three-year low, triggering a wide selloff in stocks across Asia as well as Europe.

http://www.marketwatch.com/story/china-growth-fears-slam-us-stock-futures-sharply-lower-2015-09-01

Move along, nothing to see here.

[TReano]

On other news, following the China motif, EU and now US stocks are plummeting. It seems we're in for a hell of a month gentlemen. I wonder how this will be interpreted for BTC...

The Dow Jones Industrial Average started off the month with a triple-digit tumble Tuesday as investors fled risky assets such as global equities following a fresh set of weak Chinese economic data.
China’s official manufacturing purchasing managers index fell to a three-year low, triggering a wide selloff in stocks across Asia as well as Europe.

http://www.marketwatch.com/story/china-growth-fears-slam-us-stock-futures-sharply-lower-2015-09-01

Move along, nothing to see here.

BTC doesn't really react to global news... We tried to pump on the Greece/ China stock market crash but it was without any substantial behind it.
Even LTC has much more influence on Bitcoin...

[ChartBuddy]

Coin
Explanation

[aztecminer]

On other news, following the China motif, EU and now US stocks are plummeting. It seems we're in for a hell of a month gentlemen. I wonder how this will be interpreted for BTC...

The Dow Jones Industrial Average started off the month with a triple-digit tumble Tuesday as investors fled risky assets such as global equities following a fresh set of weak Chinese economic data.
China’s official manufacturing purchasing managers index fell to a three-year low, triggering a wide selloff in stocks across Asia as well as Europe.

http://www.marketwatch.com/story/china-growth-fears-slam-us-stock-futures-sharply-lower-2015-09-01

Move along, nothing to see here.

BTC doesn't really react to global news... We tried to pump on the Greece/ China stock market crash but it was without any substantial behind it.
Even LTC has much more influence on Bitcoin...

we all know whats happening.. #cripplecoins #blockchainblacklists

[JayJuanGee]

On other news, following the China motif, EU and now US stocks are plummeting. It seems we're in for a hell of a month gentlemen. I wonder how this will be interpreted for BTC...

The Dow Jones Industrial Average started off the month with a triple-digit tumble Tuesday as investors fled risky assets such as global equities following a fresh set of weak Chinese economic data.
China’s official manufacturing purchasing managers index fell to a three-year low, triggering a wide selloff in stocks across Asia as well as Europe.

http://www.marketwatch.com/story/china-growth-fears-slam-us-stock-futures-sharply-lower-2015-09-01

Move along, nothing to see here.

I would think that at some point, BTC prices are going to diverge from the various mainstream stock prices and the various mainstream fiats to concretely establish it to be a better store of value because it remains much more difficult to manipulate in the sense of its fixed quantity.



Really, if you review BTC's prices since the beginning of this calendar year, for the most part, the price has been bouncing around between $220 and $290 for a large majority of the time, with a few outbursts outside of that price range.   Surely, the negative price pressures of the past few weeks causes one to wonder whether there is going to be another push towards the lower $200s, while at the same time, BTC prices have NOT spent too much time below $220 in the past 8 months, and really the previous time that BTC prices were below $220 was October 2013... and in April 2013 - and at those times (in 2013), BTC was experiencing all time highs  - in other words BTC prices that had never previously been seen...

So, up or down, that is the ever present question?    And, what is the correlation, if any, with various fiat systems?  Surely, some fiat assets are better retainers of value than others, during times of crises (such as real property) - however, if various fiat systems are experiencing pending crises of confidence, it should be a good thing to obtain and retain some hedge within various crypto systems (with BTC remaining in the top of the heap of crypto).

In the last couple of weeks, I kept thinking that there may be another push towards $210-ish for BTC and possibly even a bit lower - maybe testing the $200 resistance point... but in the last few days, the BTC bulls have been able to beat back the BTC bears to defend prices remaining above $225..... with ongoing issues concerning the value of other mainstream investments, maybe we are going to witness the opposite correlation, and we won't see any further tests of $200?

[ElectricMucus]

If there has to be some capitulation, it already happened imho.

Don't be ridiculous, either you say there won't be any or it's much further down the road.
I can't even make it out on my laptop screen, it's one pixel of magnitude on this chart right?

[ChartBuddy]

Coin
Explanation

[findftp]

[img width]http://bitcoin.sipa.be/speed-small-ever.png[/img]

If there has to be some capitulation, it already happened imho.

Don't be ridiculous, either you say there won't be any or it's much further down the road.
I can't even make it out on my laptop screen, it's one pixel of magnitude on this chart right?

Capitulation doesn't neccesarily mean negative hashrate difference for me.
It can also mean slower growth because some miners quit while there remain some growth overall.

But anyway, there still was some red last two years.

[ElectricMucus]

Capitulation doesn't neccesarily mean negative hashrate difference for me.
It can also mean slower growth because some miners quit while there remain some growth overall.

But anyway, there still was some red last two years.

snip

It also might be that there is now less miners, consuming less power and the improvement in mining asic efficacy made up for it. That was the case for GPUs as well, albeit to a lesser extent. One could probably graph the mining efficacy with the date of release of the product along with it to reach an estimate for the power consumption, which should be more meaningful for speculation purposes.

[tommorisonwebdesign]

Bitcoin's price stall really all has to do with the blocksize limit increase proposal currently going on right now. After consensus is found (which could possibly really take a long time) I am sure the blockchain technology will greatly be enhanced and the price will increase again. I have a lot of confidence in Bitcoin.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation