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

[Hyperjacked]

I'll buy back sometime next year and will have made a tidy little profit for Christmas spending.

I am no trader, but why would you sell something that tends to appreciate in value with and for something that for sure depreciates in value?
... and then plan on buying back later instead of instantly?

Are you receiving most of your income in bitcoin?

Some buy gift cards or other things with BTC...

Ppl have been speculating that the price would drop b/c of the holidays.

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[Hyperjacked]

OK trolls before I put you on ignore...look this up.

Grandpa Had a place by Washington square park...he was the coolest guy around! He was known for dropping twenties to the homeless ppl! That's a FACT fools! All the locals know it!

My mother put herself through school while raising us A$$wipes!!!

[practicaldreamer]

-snip-
BTW - my Dad was the only Heavyweight Champion of the World to receive the Noble Prize for Physics. Where does that put my argument, relative to yours ?

-sniip-
Your debating with someone who has been around the stock market since the 1970's...raised by a shrink and a mathematical genius! While I've heard it skips a generation...the Apple dosent fall far from the tree.

-sniiip-
I was raised by a single mother whose husband left and refused paying child support! It was different being a street kid in NYC in the 1970's but you would not know anything about that and you know less about me!

To be fair, I'm not sure if he's confusing his own life with movies he's seen.

Lol! So I was raised by a single mother and and my Dad left us for another woman...he may be a mathematics genius but pretty stupid from where I'm sitting! not sure if that's movie material or anything to brag about but you are in desperate need of material...

Must've been rough, coming up in the hard, heartless streets of NYC (more specifically, right around 11 Wall Street, amirite?) the way you did.
Abandoned by deadbeat math genius dad, your psychiatrist mom struggling just to pay for the cardboard box (conveniently located in the middle of the NYSE trading pit) the two of you huddled in.

The American Dream.

[Hyperjacked]

Hey Practical Dreamer! the "American Dream" is just that...a dream

People in other countries think that the People in the US have the roads paved with gold and that's simply not true!

My upbringing was not easy but I appreciate what I went through cause not only did it make me stronger but I have empathy for those that are down and out!

Maybe that's what you fools don't get...

[billyjoeallen]

200 coin buy on bfx. Volume picking up. Tonight may show if we're going up or down for the next few days.  I'm guessing up. Someone's sitting on a giant pile of cash and could easily lock in BTC profits at this point, but margin longs are very vulnerable to getting squeezed if tonight is like last night.

[Hyperjacked]

All this BS trash talk with a bunch of homeless retail investors is making me want to FAT finger this thing!!!

[ssmc2]

600 by Monday cuz trains n rockets n honeybadgers n stuff

[Hyperjacked]

600 by Monday cuz trains n rockets n honeybadgers n stuff

I'm sure you'll be the last to know...

Guess you didn't get the last memo...

[Hyperjacked]

My upbringing was not easy but I appreciate what I went through cause not only did it make me stronger but I have empathy for those that are down and out!

Maybe that's what you fools don't get...

So what you're telling me is that which didn't kill you ...made you stronger?
Was already envious of your superb genetics, but your tale of overcoming hardships in the pitiless [Wall]streets of NYC made me also respect and admire you

Do you have anything logical about BTC to discuss?


Well I've been slowing buying at these prices...gotta go slow

[Meuh6879]

Can someone make some popcorn?

[ChartBuddy]

Coin



Explanation

[peonminer]

600 by Monday cuz trains n rockets n honeybadgers n stuff

Logical enough for me!

[JorgeStolfi]

PS. Even IF the most recent bitcoin price rally (started 2015-11-24) is indeed due to the Chinese crackdown on UnionPay abuse, it may not cause intervention on the Chinese bitcoin exchanegs.

When the Chinese citizens used the UnionPay route, they took yuan out of the Mainland economy, and some of those yuan ended yp in foreign hands.  From the perspective of the Chinese central bank (PBoC), that is bad.  For one ting, those yuan could be ammunition for speculative attacks against the currency; in order to fight such attacks, the PBoC would have to spend some of its reserves of foreign currency.  Anyway, the net result would be the Chinese population becoming poorer relative to the rest of the world.

With the bitcoin way, hoewever, the yuan will remain all in the Mainland.  The Chinese citizens will take the "worthless" bitcoins, cheaply made in China, and sell them to foreign buyers for foreign currency.  Some of that foreign currency will find its way in the PBoC coffers, some will be used by the Chinese to buy property abroad.  Either way, the net result will be the Chinese people becoming richer relative to the rest of the world.

If this analysis is correct, the good news (for traders) is that the PBoC is unlikely to intervene and restrict thet trading of bitcoins at the exchanges.  On the other hand, the price may drop once the Chinese who are buying bitcoin in China for that purpose will start selling them in the "Western"  exchanges. (Maybe this is the cause of the recent drop to ~$430).

By the way, this chart may be evidence that the rallies of the last three months are due to real demand, rather than manipulation in the exchanges.  Note that the total transaction value (in USD/day, excluding return change outputs) in the blockchain, which dropped at the end of 2013 and has been nearly flat for 20 months, climbed suddenly since 2015-11, together with the trading volume inside the Chinese exchanges.  This is consistent with the MMM and bitcoin-exporting theories: hoarders send their BTC to the Chinese exchanges, a different set of people withdraws them, and deposits them to foreign exchanges.

[peonminer]

How much did you lose to MMM? You're really stuck on that one operation.

[bitebits]

Isn't that growth in hash rate just both beautiful and impressive. I can't believe the hash rate was so low in Q4 of 2013 compared to today, while it seemed incredibly high at the time. The current hash rate is really below imagination, so much computing power!

https://blockchain.info/charts/hash-rate?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

[practicaldreamer]

With the bitcoin way, hoewever, the yuan will remain all in the Mainland.  The Chinese citizens will take the "worthless" bitcoins, cheaply made in China, and sell them to foreign buyers for foreign currency.  Some of that foreign currency will find its way in the PBoC coffers, some will be used by the Chinese to buy property abroad.  Either way, the net result will be the Chinese people becoming richer relative to the rest of the world.

Anyone know what proportion of BTC is produced in China/held in China/sold out of and into China ?

Without this info I don't know that I can put too much store in this theory Jorge.

"...the Chinese people becoming richer relative to the rest of the world"

They are - but I'm not sure its attributable to the reasons you've cited.

[Hyperjacked]

My upbringing was not easy but I appreciate what I went through cause not only did it make me stronger but I have empathy for those that are down and out!

Maybe that's what you fools don't get...

So what you're telling me is that which didn't kill you ...made you stronger?
Was already envious of your superb genetics, but your tale of overcoming hardships in the pitiless [Wall]streets of NYC made me also respect and admire you

Do you have anything logical about BTC to discuss?

What do your abandonment issues, cardboard box upbringing, and Grandpa Munster supporting all y'all with $20 bills have to do with bitcoin?
Also, where the f8ck are my hubcaps?

@peonminer: Don't make fun of MMM just because you don't understand it. At least read Sereja's white paper.

can't someone ban this guys IP address ? Same guy with multiple accounts

[JorgeStolfi]

How much did you lose to MMM? You're really stuck on that one operation.

Are you asking me?  I do not knowingly "invest" in pyramid schemes, just as I do not gamble. (Last time I did, it was some US$ 200 into the Brazilian branch of Amway, in the early 1990s, because of pressure from a family member whose feelings we did not want to hurt.)  

But I find the scams and scammers the most interesting part of bitcoin. Mark Karpelès, Josh Zipkin, Josh Zerlan, Josh Garza (hm, is there a pattern there?), Danny Brewster, Craig Wright... Each case is more incredible than the previous one: if made into movies, they would be dismissed by critics for the outlandish plots...

But why do you think that the MMM theory is wrong?  Have you checked the story of the previous ponzis by Sergei Mavrodi, in Russia and China India?  Check the amounts involved, and compare to the bitcoin market cap...

[Fatman3001]

What I was driving at is that an appeal to authority is always hollow.

It might matter in this environment. All I'm saying is that, in any event, he doesn't seem to let the truth get in the way when he wants to affect the mood in here.

@Hyperjacked

Don't throw a hissy fit just because I arrest you on this stuff. You're not the only one talking your book here, but you do tend to polish your ego more than most.

[Hyperjacked]

How much did you lose to MMM? You're really stuck on that one operation.

Are you asking me?  I do not knowingly "invest" in pyramid schemes, just as I do not gamble. (Last time I did, it was some US$ 200 into the Brazilian branch of Amway, in the early 1990s, because of pressure from a family member whose feelings we did not want to hurt.) 

But I find the scams and scammers the most interesting part of bitcoin. Mark Karpelès, Josh Zipkin, Josh Zerlan, Josh Garza (hm, is there a pattern there?), Danny Brewster, Craig Wright... Each case is more incredible than the previous one: if made into movies, they would be dismissed by critics for the outlandish plots...

But why do you think that the MMM theory is wrong?  Have you checked the story of the previous ponzis by Sergei Mavrodi, in Russia and China?  Check the amounts involved, and compare to the bitcoin market cap...

Yes please Peonminer...do tell!

I've been getting relentlessly trolled by the squad tonight...maybe you can shed some light!

I'll get the popcorn this time...