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

[Spaceman_Spiff]

I am going to set up a trading bot to buy when this thread gets full of "block size" talk and sell when there are debates about how many thousands of dollars bitcoin will soon be worth.

That's not a bad idea actually.

[rjclarke2000]

I am going to set up a trading bot to buy when this thread gets full of "block size" talk and sell when there are debates about how many thousands of dollars bitcoin will soon be worth.

That's not a bad idea actually.

This is incredible. The attitude here changes faster than my wife's during her "time of the month".

I can't keep up. Are we rich or is it all going down the pan today?

[JayJuanGee]

I am going to set up a trading bot to buy when this thread gets full of "block size" talk and sell when there are debates about how many thousands of dollars bitcoin will soon be worth.

That's not a bad idea actually.

This is incredible. The attitude here changes faster than my wife's during her "time of the month".

I can't keep up. Are we rich or is it all going down the pan today?

Why do you specify "today?"   

What is special about today?

As far as I see the matter, we haven't really bounced out of the channel of the past couple of months, which is about $560 to $630, so unless we are trolling, exaggerating or spreading FUD, how can we get excited about price movements within such a channel? 

Does someone want to suggest that the channel is more narrow? or that we should get excited based on smaller price movements (such as price movements of less than 5%?) ?

[rjclarke2000]

I am going to set up a trading bot to buy when this thread gets full of "block size" talk and sell when there are debates about how many thousands of dollars bitcoin will soon be worth.

That's not a bad idea actually.

This is incredible. The attitude here changes faster than my wife's during her "time of the month".

I can't keep up. Are we rich or is it all going down the pan today?

Why do you specify "today?"   

What is special about today?

As far as I see the matter, we haven't really bounced out of the channel of the past couple of months, which is about $560 to $630, so unless we are trolling, exaggerating or spreading FUD, how can we get excited about price movements within such a channel? 

Does someone want to suggest that the channel is more narrow? or that we should get excited based on smaller price movements (such as price movements of less than 5%?) ?

I said today to highlight how quickly sentiment changes as a bit of fun. One day it's going to the moon and another day it's blocksize, no etf, low volume bullshit.

Don't take anything I say to heart. I come in peace

[JayJuanGee]

I am going to set up a trading bot to buy when this thread gets full of "block size" talk and sell when there are debates about how many thousands of dollars bitcoin will soon be worth.

That's not a bad idea actually.

This is incredible. The attitude here changes faster than my wife's during her "time of the month".

I can't keep up. Are we rich or is it all going down the pan today?

Why do you specify "today?"   

What is special about today?

As far as I see the matter, we haven't really bounced out of the channel of the past couple of months, which is about $560 to $630, so unless we are trolling, exaggerating or spreading FUD, how can we get excited about price movements within such a channel? 

Does someone want to suggest that the channel is more narrow? or that we should get excited based on smaller price movements (such as price movements of less than 5%?) ?

I said today to highlight how quickly sentiment changes as a bit of fun. One day it's going to the moon and another day it's blocksize, no etf, low volume bullshit.

Don't take anything I say to heart. I come in peace

I certainly don't mean my most recent interrogations as any kind of attack.      

Yeah, the trade volume has been relatively low for a couple of months,  and even the May/June spurt up to nearly $800 did not come with sustained high volume... on the other hand, we did get pretty decent and sustained high volume for around 20 weeks in fall of 2015 .. those were the days... hahahaha

Regarding pending  ETF(s), yeah, who knows whether we are going to get any definitive news on that in the coming months - and most of us realize that any kind of significant approval of this kind of ETF matter could be stalled for a considerable amount of time.

I am a bit curious about how long BTC prices can be sustained in the current levels.  There is quite a bit of evidence of increasing trade volumes on local bitcoins, which also seems to be an indication of upwards price pressures... Furthermore, it seems that the recent halvening has a decent chance of being felt in the coming months, too.. and that would be providing additional upwards price pressures.  There are also decent chances that we could experience a significantly sized dump prior to any pump of 5% or more..

A 20% move in either direction is not out of the question, yet to me the odds of a 20% move in prices seems a bit more likely to travel upwards, rather than downwards. .

[VC George]

Localbitcoins and Paxful are some decent places holding the prices up. When people buy at a 10~20% premium I don't see how they would sell bellow their ROI zone, unless ofcourse something bad happens which excluding exchangers hacks never really occurs. Also may I add that sustaining the prices between 560 to 630 since July has also helped form a huge wall forbitting bearish moves for the time being.
For me it's like the 390 to 420 scene we had earlier this year, a big straight line and then a sudden jump up which is quite healthy!

[marcus_of_augustus]

https://www.youtube.com/watch?v=NU9JoFKlaZ0

stepwise 'shocker' up to $850 range is the next medium term move

[JayJuanGee]

Localbitcoins and Paxful are some decent places holding the prices up. When people buy at a 10~20% premium I don't see how they would sell bellow their ROI zone, unless ofcourse something bad happens which excluding exchangers hacks never really occurs. Also may I add that sustaining the prices between 560 to 630 since July has also helped form a huge wall forbitting bearish moves for the time being.
For me it's like the 390 to 420 scene we had earlier this year, a big straight line and then a sudden jump up which is quite healthy!

Of course, I am not exactly certain about how to describe the price ranges, but really, it seems that earlier in the year, the price range was more or less between $350 and  $450... There were several attempts in both directions before the price finally broke out to the upside.

And, maybe in the end, the bears are only able to hold down the price for so long before they are just forced to allow it to break out?  That seems to be a kind of dynamic going on when you have continued buying and expansion and even recently the halvening that is likely soon to cause additional upward price pressures due to lessening of the increased supply.

[savetherainforest]

"I'm a simple man..." I see JJG spam like crazy... it means something must be happening... and btw... its 23 September.  

[zimmah]

SegWit was promised to arrive in april 2016, it's now September.

And I have lost one tooth
And I walk a little lame
And I ain't got time
For the waiting game

And the days dwindle down to a precious few
September ... November!
And these few precious days I'll spend with you. These precious days I'll spend with you

Good piece of poetry you got there. Do you have any other poems? and hey! don't worry everything will be fine as time goes, there is nothing that time can't heal.

It's not that I'm impatient, but I don't want potential or current users leaving bitcoin because of these problems.

The blocksize issue is a real problem, and you can't just wait for SegWit/LN to get their shit together while the blocksize is becoming problematic.

The blocksize was never supposed to stay at 1MB for as long as it did. The false promise of SegWit made people think we didn't need to upgrade the blocksize from 1MB, so now here we are, with 80% of the blocks being full, no blocksize increase in sight, no SegWit and no LN, and mainwhile bitcoin is rapidly losing marketshare.  

It won't take long for bitcoin to no longer be the #1 crypto in marketshare. Do you want bitcoin to become the myspace of crypto? Because this is how you get bitcoin to become the myspace of crypto.

In the end, we go to the better coin,

If by better you mean abandoned, than yes. But it won't have value then.

[JayJuanGee]

SegWit was promised to arrive in april 2016, it's now September.

And I have lost one tooth
And I walk a little lame
And I ain't got time
For the waiting game

And the days dwindle down to a precious few
September ... November!
And these few precious days I'll spend with you. These precious days I'll spend with you

Good piece of poetry you got there. Do you have any other poems? and hey! don't worry everything will be fine as time goes, there is nothing that time can't heal.

It's not that I'm impatient, but I don't want potential or current users leaving bitcoin because of these problems.

The blocksize issue is a real problem, and you can't just wait for SegWit/LN to get their shit together while the blocksize is becoming problematic.

The blocksize was never supposed to stay at 1MB for as long as it did. The false promise of SegWit made people think we didn't need to upgrade the blocksize from 1MB, so now here we are, with 80% of the blocks being full, no blocksize increase in sight, no SegWit and no LN, and mainwhile bitcoin is rapidly losing marketshare.  

It won't take long for bitcoin to no longer be the #1 crypto in marketshare. Do you want bitcoin to become the myspace of crypto? Because this is how you get bitcoin to become the myspace of crypto.

Are you sure that you are not a paid shill troll? 

You are assuming no progress is being made, and nothing is being done, and there is some kind of urgency in doing something. 

Your various assumptions are without merit.

In the end, we go to the better coin,

If by better you mean abandoned, than yes. But it won't have value then.

If you worried, you begin to diversify before whatever competitors become "the better coin"


Based on the current state of bitcoin (and it's supposed state of brokenness as asserted by various big block advocates in this thread), I see little to no value in diversifying at this point based on those alleged and insubstantially backed arguments.   

[Cassius]

lets see those walls


Based on the feds decision to hold rates

1) Confirms asset bubble to continue

2) No confidence in the US dollar

3) Gold, Silver and Bitcoin expected to rise

4) US dollar in free fall, base currency for trading countries down from 75% of world trade now at 45%

5) Yuan backed gold tipped to overtake US dollar as reserve currency for most nations and hasten US economic collapse

6) US debt $21 trillion dollars, 3.5 x larger than the GFC debt of 6 trillion dollars


not a pretty picture

SegWit is a not-particularly-pretty picture for bitcoin.

US economy is not a pretty picture for traditional economy, hence a source of buy pressure for bitcoin.
Neither is the prospect of a Trump presidency.
Or Article 50 being triggered early 2017.
Or China's Politburo changing over later next year.

So I know I want some BTC squirreled away for a rainy and possibly apocalyptic day, but I do wish they'd sort SegWit.

[Spaceman_Spiff]

I am going to set up a trading bot to buy when this thread gets full of "block size" talk and sell when there are debates about how many thousands of dollars bitcoin will soon be worth.

That's not a bad idea actually.

This is incredible. The attitude here changes faster than my wife's during her "time of the month".

I can't keep up. Are we rich or is it all going down the pan today?

You do realize that there are multiple people on this forum who might hold opposing views, right?  Although with all of Lambies sockpuppet accounts, you could be forgiven for thinking otherwise.

[Paashaas]

It won't take long for bitcoin to no longer be the #1 crypto in marketshare. Do you want bitcoin to become the myspace of crypto? Because this is how you get bitcoin to become the myspace of crypto.

Keep on dreaming for a replacement, Bitcoin will always be nr1. Satoshi solved groundbreaking problems, go read Satoshi white paper + in particular the references at the end. Bitcoin is the result of all that knowledge combined. Warning; you dont read that stuff just for the fun.  Even those super geeks at IBM ore Microsoft couldn't create something like Bitcoin, im sure they almost getting a heart attack when they discovered Bitcoin.

Currently there are 682 shitcoins alt-coins out there at coinmarketcap, not even 1 comes close to Bitcoin. It's a huge insult when you claim that Bitcoin will be the myspace of crypto.

Segwitt is the best possible update Bitcoin can have. For a real shot for mainstream we need something like Lightning/Thunder layer. If people think 10mb to 1gig blocks wil do the job, there are wrong, it's not enough for a global payment system. One of the strenghts of Bitcoin are small-amounth payments aka Satoshi's/bits. You realy want huge capacity to handle all those millions of payment demands, you cannot hard-fork Bitcoin in the wild-west so many times to 1 gig blocks and above. The internet can't even handle that kind of blocks in this time. I see LN as a perfect way for the sheeps who cant handle ore storing private keys etc it woud be a total waste of coins for sure. The way we use Bitocin now is good for the experts ore for bigger transactions.

[DARKHOLDER]

"I'm a simple man..." I see JJG spam like crazy... it means something must be happening... and btw... its 23 September.  

what is so special in 23 sept??

[Cassius]

"I'm a simple man..." I see JJG spam like crazy... it means something must be happening... and btw... its 23 September.  

what is so special in 23 sept??

I vaguely recall Craig Wright was supposed to pull some rabbit out of a hat today. I can't hold my breath much longer, really.

[JimboToronto]

Good AM BTCland.

$603 on Bitcoinaverage. No rockets, no sinking ships.

Blah.

[BlackSpidy]

Good AM BTCland.

$603 on Bitcoinaverage. No rockets, no sinking ships.

Blah.

And I need it to stay that way for just one more week.

[Denker]

Good AM BTCland.

$603 on Bitcoinaverage. No rockets, no sinking ships.

Blah.

And I need it to stay that way for just one more week.

Because then you're getting new fresh fiat which you wanna pump into Bitcoin right?!
So often it had happened that the price had increased one or two days before I received my payment.
It looks like we just moving up a bit again, but will mostly hover around 590 to 610.
With a bit of luck you will still be able to buy in that range.

[JimboToronto]

Adam hasn't posted in a week and a half. That's a long time for him.

I  hope he's OK.