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

[calme]

yeah, when cn pumps it practically rattles your computer monitor. intense and violent jolts. the surge yesterday was supposedly renewed confidence instilled from the largest mining conference ever (chengdu, sponsored by bitmain i think). and also ofc just the general opinion that late year is uberpump time in bitcoinlandia, and folks want in early on the action.

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[JayJuanGee]

yeah, when cn pumps it practically rattles your computer monitor. intense and violent jolts.

Hahahahaha

I agree with you, except for any of these apparent mythical explanations that seem to attempt to give too much credit to china...


Sure, China is in the formula, but price dynamics on bitcoin goes much beyond China.. and much more wide spread foundations.

In other words, even if China may start off a short term pump or dump, those kinds behaviors and activities are not likely to be very sustainable unless there is wider support and wider price pressures in either direction.  

I am not asserting that China is not a factor in either short term or longer term prices, just that it's influence has to be considered in a broader light, otherwise guys are going to arrive at faulty analysis and conclusions if they are attempting to give too much weight to the chinamen.    

[calme]

well, americans can't leverage trade to speak of anymore. no bitfinex, kraken is limited, btcc is too high of margin, and others don't even allow it. there's forex sites but that's another animal entirely. and ofc the megamines are in rural cn and the big exchanges are in BJ/SH, other than finex. so w/o leverage, we just don't have the buying power we had.

[calme]

looking like mkt is deciding it's double bottom time. ppl also now have their coveted 24h candle that instills confidence in these new levels.

[JayJuanGee]

well, americans can't leverage trade to speak of anymore. no bitfinex, kraken is limited, btcc is too high of margin, and others don't even allow it. there's forex sites but that's another animal entirely. and ofc the megamines are in rural cn and the and big exchanges are in BJ/SH, other than finex. so w/o leverage, we just don't have the buying power we had.

Hhahahahahaha

Now that you try to back up what you are saying, you are spewing out nonsense.

Yes, I concede that there is a china dynamic, but this remains mainstream nonsensical to give too much emphasis to China... China is a mixed bag of competition and competing rules.. there is no systematic and/or meaningful chinese dominance or control over the direction of bitcoin, whether market based or colluding. 

yes, we people have to take into account China, we have to include chinamen in our various consensus discussions, but in the end, they are as much all over the place as other folks when it comes to attempting to influence the price and development direction of bitcoin in one direction or another...

so it comes off as a bit looney, when folks are China this, China that, China blah blah blah...

Yeah, include china, but don't get so myopic in your seeming to whine about it.  It is what it is, and there is no need to get defensive or to get feelings of nationalism when it comes to bitcoin price and/or bitcoin developments.

[calme]

dude. why can't you just relax? it doesn't have to be some confrontation. what's going on here?

[julian071]

dude. why can't you just relax? it doesn't have to be some confrontation. what's going on here?

Thanks for your input man, I for one found it interesting.

[Spaceman_Spiff]

Are we repeating 2013?

Does the June rise look fractally similar to April 2013? (also the course of the chart since that high look similar to me)

 ... July 09 2016-Nov. 2016 broadly lines up with post-halving behaviour for Nov. 28 2012 - March 2013, call it a definite maybe for now.

it would be epic...

best christmas ever?

Might take a bit longer this time. I definitely foresee epicness in the near future though.  Would feel more at ease if segwit wasn't being opposed though.

[calme]

dude. why can't you just relax? it doesn't have to be some confrontation. what's going on here?

Thanks for your input man, I for one found it interesting.

cheers 

[JayJuanGee]

dude. why can't you just relax? it doesn't have to be some confrontation. what's going on here?

You only see the matter as a "confrontation" because you cannot back up your stupid-ass misinformation ideas, that only become more apparently "stupid-ass" after it is revealed that you are either unwilling or unable to back them up.

[calme]

dude. why can't you just relax? it doesn't have to be some confrontation. what's going on here?

You only see the matter as a "confrontation" because you cannot back up your stupid-ass misinformation ideas, that only become more apparently "stupid-ass" after it is revealed that you are either unwilling or unable to back them up.

Well I thank you for being my guiding light. I was wrong but you were there to make it all better.

[toknormal]

The 1-week Bitcoin/$USD chart correction is nearing completion. That chart range started correcting around the end of July when the big dump-down from the 5180 Hobular high occured.

That correction also painted the handle onto the humungous 3-year cup and handle formation thats been forming since the 2013 China-driven $1200 ATH.

The timing of events seems to be pointing to a perfect storm towards the end of the year, possibly consisting of Lightning Network arrival, Segwit, BTC Developer & mining consensus putting previous confrontations to bed and an array of chart technicals going green. Things would then be in place for the Wrinklyboss ETF to turn up and light the touchpaper on the tinder pile.

[JayJuanGee]

dude. why can't you just relax? it doesn't have to be some confrontation. what's going on here?

You only see the matter as a "confrontation" because you cannot back up your stupid-ass misinformation ideas, that only become more apparently "stupid-ass" after it is revealed that you are either unwilling or unable to back them up.

Well I thank you for being my guiding light. I was wrong but you were there to make it all better.

Well, I try; however, based on the tone of your last couple of responses, I have considerable doubts about whether anything AT ALL sunk into your seemingly bordering on thick passive aggressive skull.       

[calme]

Well if the Chinese measurement system didn't dominate the market, I doubt it would seem thick. But I don't know.

[Fakhoury]

The 1-week Bitcoin/$USD chart correction is nearing completion. That chart range started correcting around the end of July when the big dump-down from the 5180 Hobular high occured.

That correction also painted the handle onto the humungous 3-year cup and handle formation thats been forming since the 2013 China-driven $1200 ATH.

The timing of events seems to be pointing to a perfect storm towards the end of the year, possibly consisting of Lightning Network arrival, Segwit, BTC Developer & mining consensus putting previous confrontations to bed and an array of chart technicals going green. Things would then be in place for the Wrinklyboss ETF to turn up and light the touchpaper on the tinder pile.

My dear friend, Toknormal, do you see a possibility in passing the ATH or even $1K mark before the new year's eve ?

[dumbfbrankings]

...do you see a possibility in passing the ATH or even $1K mark before the new year's eve ?

Only if the Chinese miners continue in their efforts to unblock the stream.

There is hope yet, my brother.

[Biodom]

^^ are you a programmer? If yes, OK, I will listen. If it is just describing "our group" vs "their gang", sorry, not interested.

[mymenace]

...do you see a possibility in passing the ATH or even $1K mark before the new year's eve ?

Only if the Chinese miners continue in their efforts to unblock the stream.

There is hope yet, my brother.

with competition building its gonna make it tough

big banks make their first trade on their new blockchain

http://www.reuters.com/article/us-australia-tech-banks-idUSKCN12O0DX?utm_campaign=trueAnthem:+Trending+Content&utm_content=580da49104d3012d0cf03f7e&utm_medium=trueAnthem&utm_source=twitter

[JayJuanGee]

Well if the Chinese measurement system didn't dominate the market, I doubt it would seem thick. But I don't know.

Yes, the one thing that you happen to be correct about is the part where you say:  "I don't know."

[toknormal]

with competition building its gonna make it tough

big banks make their first trade on their new blockchain

That isn't "competition". All they've done is build a conveyor belt for fiat. "Blockchain tech" isn't worth nothin - any man and his dog can build a network using "blockchain tech" to carry stuff around the place.

What they can't do is attract 2 Million Terrahashes of decentralised computing power to the point that that blockchain's tokens become a monetary unit in their own right, independent of any trusted third party backer or sovereign currency denomination.