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

[Andre#]

German weekly 'Die Zeit'. "Bitcoin instead of Euro?" Politically located ~top+middle on the Nolan chart, think (roughly): German New Yorker. Not a bad paper, actually.


It didn't register as big news anymore for me that Bitcoin is featured in a prominent way in a large paper, but what I thought is interesting is

a)  the article's comparably knowledgeable on crypto. Not extremely deep analysis, but no completely obvious misconceptions (except maybe for a bit of a flippant remark on confirmation times), and

b) while it's critical of the proposition in the title ("replace cash by Bitcoin?"), it considers it a serious enough proposal to discuss it in some detail -- both in terms of cash as some new blockchain based but government issued money, as well as in the form of the Bitcoin blockchain itself.

Interesting how a (rather drastic) change in perception can sometimes sneak up on you without you noticing it at first, I thought.

Interesting, indeed! Quite a bullish signal, actually.

EDIT: There are more examples if this trend.

http://www.bbc.com/news/technology-36197703
http://uk.reuters.com/article/uk-bitcoin-governance-idUKKCN0XX1WH

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[2015Bubble]

God my ass is burning from hotsauce.
Bullish

[JayJuanGee]

So let's do a count up who's short right now?

R3 - Ian Grigg is an adviser and had inside knowledge of "satoshi" reveal so many connections with a consortium of 42 banks potentially sitting on short positions put on since 470 (April 27 high)

Gavinistas?? yeh not likely he leaked

Matonis - maybe a few sneaky shorts before the 'satoshi' reveal

JVP - evoorhees, Roger Ver?

Wright and co

Economist, BBC, and GQ(wtf?) connections maybe got some bitcoin shorts on before the reveal

Should be fun watching the unwind ...  

Probably, the price did not go down as far as they had hoped, but the smart ones, if any, would have already bought back in.

[stereotype]

God my ass is burning from hotsauce.
Bullish

Hmmm.  satoshisauce.com has a certain ring to it, and still available.

[Fatman3001]

God my ass is burning from hotsauce.
Bullish

Hmmm.  satoshisauce.com has a certain ring to it, and still available.

What would the ingredients be?

[gentlemand]

I think everyone on this forum should contribute with beakers full of the sweat off their balls as they slow roast them with their laptops. And miners.

[goldsun]

The price will rise around the halving time because miners will get less coins mined per day, and in order to still be profitable and not only do +- $0/day, they will need to manipulate the market to their favour.

This is good for us who even hold a few bitcoins or more, but less good for people who want to invest in bitcoin and jump on the train in a late stage. But who cares, most of us here want to make money, and some do, and some lose, thats the nature of the game.

I can't imagine all those who bought for $800-1000/btc...they must feel like losers, but cheer up, we will get back to new heights soon. And if you cant make profit, I am sure your losses will be much smaller.

[stereotype]

God my ass is burning from hotsauce.
Bullish

Hmmm.  satoshisauce.com has a certain ring to it, and still available.

What would the ingredients be?

Finely chopped Craig liver, cooked rare so the blood still flows. Followed by a highly whipped Matonis merange (must be whipped, thoroughly), served with prime plump Andresen plums.   

[ssmc2]

http://www.bloomberg.com/news/articles/2016-05-05/a-cartel-and-a-briefcase-how-drug-cash-moves-on-a-river-of-gold

"“If I had a lot of money to launder, I would choose gold,” says John Cassara, a former U.S. Treasury special agent and author of books on money laundering"


BS MSM article claiming cartels are using gold to launder most of their cash. Hmmm how long before they use this to add a ban on personal ownership of PM's into the "ban on cash" mix? And what might that mean for BTC...I think good things.

[bitconerian]

http://www.bloomberg.com/news/articles/2016-05-05/a-cartel-and-a-briefcase-how-drug-cash-moves-on-a-river-of-gold

"“If I had a lot of money to launder, I would choose gold,” says John Cassara, a former U.S. Treasury special agent and author of books on money laundering. "Bitcoin is full of criminals, the dumb ones flock to it like flies to shit, placing it under intense scrutiny of crime prevention agencies around the world. Having a bitscoin wallet, or even mentioning bitcoins, is akin to painting "Arrest me! I'm an incompetent criminal" sign on your back, not something you'd want to do. The noose is tightening around crypto's unwashed, scrawny neck, and, with the creator of online money Liberty Reserve getting thrown in prison for 20 years , the bitcoins jig is nearly up."

Hmm...

[JimboToronto]

Good morning Bitcoinland. Still hovering around $460, eh? 

[USB-S]

I think we're going to touch 470 wall at least once before correcting again. This kind of rapid growth isn't sustainable by any means.
We've been hovering around this price range for 2 months now, on an upwards trajectory. Lets keep this up.

[LegendaryMiner]

Wow, nice pump lately.

[whored]

The $460 major psychological resistance is being tested again.

[LFC_Bitcoin]

The $460 major psychological resistance is being tested again.

True lets hope it doesnt get ruined by some cruel ass whale dumping on us. I think there's going to be lots of games played by big players as we lead up to the halving.

[Denker]

The $460 major psychological resistance is being tested again.

True lets hope it doesnt get ruined by some cruel ass whale dumping on us. I think there's going to be lots of games played by big players as we lead up to the halving.

I think it's not so much the $460 which is a barrier. It's more the chinese and the 3000 yuan which could hinder us to climb higher.

[SheHadMANHands]

Look how calm we are...   

re re re re test 3,000 imminent   

[JayJuanGee]

The price will rise around the halving time because miners will get less coins mined per day, and in order to still be profitable and not only do +- $0/day, they will need to manipulate the market to their favour.

This theory about manipulation of price upwards by miners is frequently overblown and exaggerated.

Even though miners have an incentive for prices to go up, there is no evidence that they are actually engaged in any kind of large scale price manipulation... and likely their involvement in upwards price manipulation is marginal at best. 


By the way, frequently when folks emphasize upward price being caused by miner manipulation they are attempting to suggest that Bitcoin's price is not as organic as it is... organic meaning widespread amongst a variety of persons.. and the more organic bitcoin price becomes with the passage of time and increased use, etc etc... the less that it matters concerning any one segment, including miner behavior... the halving, in fact makes it a bit less important regarding what miners do because they have control over a lower and lower percentage of the coins (new coins in this case).

This is good for us who even hold a few bitcoins or more, but less good for people who want to invest in bitcoin and jump on the train in a late stage. But who cares, most of us here want to make money, and some do, and some lose, thats the nature of the game. 

I agree with you that upward price movement, no matter how it occurs is good for people who already own coins and those who have already stockpiled some coins in anticipation of upwards price movement.  However, I doubt that we need to feel sorry for subsequent users...  There is always going to be different cost basis for folks depending on when they get into any kind of appreciating asset, and the extent to which it can appreciate will change, of course, but that mere fact does not mean that they are screwed by such appreciation.. They just need to make choices about appreciating assets at the time that they make them, and there will likely be other appreciating assets in the future.. We just happen to be involved with this one (bitcoin) and we happen to be lucky enough to know about it (those of us who have been studying it). 

I have attempted to inform a lot of my friends and relatives and even other acquaintances about our lil friend (bitcoin), and sometimes, the seed is planted and they research into it (and maybe even invest), and other times, they are just not ready for it and too nervous about it... for whatever reason.  I don't feel sorry for them.. or feel guilty about my own early investment.

I can't imagine all those who bought for $800-1000/btc...they must feel like losers, but cheer up, we will get back to new heights soon. And if you cant make profit, I am sure your losses will be much smaller.

I don't think that you need to worry about those who bought in the $800 to $1000 price arenas.  It's very likely they are are going to be fine, as long as they held and maybe took other investment precautions.  But, yeah, it is a problem regarding some of those who bought at those levels and sold in the $200s or some other price that was lower than their initial investment.  Those kinds of things happen in volatile assets, and certainly, bitcoin's future appreciation is far from certain.

By the way, I bought my first coins at $1,200, and I continued to buy all the way down below $200 and to bring my average down.  I accumulated several coins in the lower $200s, and took reasonable precautions to sell on the way up above $250 and currently, then to buy back on dips.  Sure it has taken some nursing along the way, yet currently, my BTC portfolio is in really decent shape because I have BTC accumulated and fiat stacked within the portfolio.  Thus there are several ways to view and calculate cost per BTC to attempt to figure if your holdings are profitable.  Sure, yeah, maybe to be a purist, I should wait for $1,200 to cash out the coins that I bought at $1,200, but really that is not absolutely necessary in order to still have an overall financially profitable holdings and selling position based on the overall average cost of the investment.

[dumbfbrankings]

... I don't feel sorry for them.. or feel guilty about my own early investment.

Dude, you're still underwater on your shrewd early BTCeanie investment.

Why would you feel sorry for them?...  for NOT losing as much money as you have? Makes no sense.

And guilt? That's probably how they feel after ruthlessly mocking you behind your back after you tried to rope them into your little neckbeard pyramid pesos scam.

[JayJuanGee]

... I don't feel sorry for them.. or feel guilty about my own early investment.

Dude, you're still underwater on your shrewd early BTCeanie investment.

Why would you feel sorry for them?...  for NOT losing as much money as you have? Makes no sense.

You are quite into goading, no?


You are making assumptions about my BTC portfolio that are contrary to what I have already disclosed, and pretty much I have been disclosing on a timely and ongoing basis.  What have you disclosed about your own personal BTC investment strategies or lack of that would contribute to conversations that are relevant to this thread?

O.k... Yeah... I have no problem if you are either calling out folks who are making claims that are either untrue or they are deceptive in some kind of way, yet the substantive aspects of my posts in no way fall close to that.... because they are attempts at being substantive regarding investment strategies in terms of both BTC's past price performance and anticipated future price performance, which certainly is relevant to this thread.

What about you, dumbfrankings?  tell us a bit about your BTC investment strategy to the extent that it relates to the topic of this thread?  or you want to tell us about some competing investment that you made, that does not relate?  I actually suspect that you have no substance to add because you want to criticize and distract and to fill space without adding anything substantive or meaningful.

And guilt? That's probably how they feel after ruthlessly mocking you behind your back after you tried to rope them into your little neckbeard pyramid pesos scam.

I think that I already explained my use of the term guilt.  Hey, you know what, I could have invested in Microsoft or Apple in the early 80s, but I didn't... except possibly to the extent that they may have been included in index funds.  Accordingly, I have additional choices now, and one of those choices is bitcoin.  In the future, there are going to be other choices, and so in whatever time line we are, we have choices that are based on a variety of factors including our cash flow, risk profile, information at our disposal, etc.. and there would be no reason to have guilt about profiting from a category of an early adopter investment... on the other hand, if we profit considerably from an early adopter investment, arguably we may have some community obligations regarding how we treat those profits (whether that be dumping on the community or investing in the community.. and some of those are personal choices that are going to vary between individuals which may include their morals and ethics as well).