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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21328453 times)
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February 07, 2017, 03:03:16 PM

Why 1337 $ ??
For me will be a little lower than 1100

what matters is to top the previous high.

Getting over the previous gox high of $1242 is what matters.

That was the Mt.Gox ATH right?!
I don't this is relevant.
People will look for the Bitstamp and Bitfinex ATH.Only these count!
So far there is still some way to go (actual price is ~1050). Really curious if we can break it this time.

We already broke the Bitstamp and Bitfinex ATHs once. If we can break the gox ATH it will be all over the mainstream news. Bitcoin reaching the highest its ever been is good headline material.

Are the mainstream media a bit bored with bitcoin? I have seen nearly nothing on there and we are way up high in relative terms.

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February 07, 2017, 03:08:10 PM

The ETF date is the most interesting part about bitcoin at the moment.  As a regulator you would have to be insane to approve a bitcoin ETF in current state, so if it did get approved it would probably be the government trying to create some alternative target for people to waste their time in and keep them out of the metals markets.  When the current scam system starts to implode, gold will go to at least $20,000 an ounce in current buying power and silver will see even higher percentage gains.  The sooner people figure this out, the faster it does implode - which is why they don't want people creating bull runs in those markets and want to distract people with other things instead.

Someone is going to get all upset that I implied bitcoin is somehow not as good as metals, but by that I just mean that it's very likely metals will have a currency roll again or that the world reserve currency will be metals, while it's very unlikely a nation state or the world reserve currency would be bitcoin.  In fact, it would be a disaster since bitcoin isn't fungible with every transaction traced with white and black lists making it a permissioned ledger in that aspect.  Until/if that issue is resolved, nobody should be wishing for the government or wall street to have any affiliation with bitcoin whatsoever when the odds of it turning into some 1984 scheme are far higher than not.

Bitcoin doesn't come without risk, if the system collapsed for some reason. If it was compromised or hacked. That surely rules it out as a reserve currency. Its a bit intangible with no physical "thing".


I suppose the equivalent in, say gold, is that someone manages alchemy and gold is suddenly 2 a penny.


In our bizarre world who knows which might even happen.

Tell someone 5 years ago their young children will never need to learn to drive a car, most say you're crazy.
Make the same statement today, most will agree.

Today if we claim we will be able to mine an asteroid 100 years from now, and increase the supply of gold on Earth multiple-fold, most say you're crazy.

...Even without considering alchemical solutions, we are nearing the tipping point where the feasibility of asteroid mining will be demonstrated. I believe it is already an eventuality, and merely a question of timing. I think within 5 years, we will have a similar tipping point for the technology required for asteroid mining.

The difference here is that precious metals have no way of transforming their way out of this problem.
Bitcoin's equivalent problem - quadratic computing - does have a solution, through evolution.

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February 07, 2017, 03:09:50 PM

Why 1337 $ ??
For me will be a little lower than 1100

what matters is to top the previous high.

Getting over the previous gox high of $1242 is what matters.

That was the Mt.Gox ATH right?!
I don't this is relevant.
People will look for the Bitstamp and Bitfinex ATH.Only these count!
So far there is still some way to go (actual price is ~1050). Really curious if we can break it this time.

We already broke the Bitstamp and Bitfinex ATHs once. If we can break the gox ATH it will be all over the mainstream news. Bitcoin reaching the highest its ever been is good headline material.

Are the mainstream media a bit bored with bitcoin? I have seen nearly nothing on there and we are way up high in relative terms.



The mainstream media is fickle. For a brief moment it's shouting about Bitcoin, then a week later it gets bored with it and moves onto something else. It takes a good headline to get into the news, like Satoshi's been found or Bitcoins are worth $2000.
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February 07, 2017, 03:53:42 PM

Why 1337 $ ??
For me will be a little lower than 1100

what matters is to top the previous high.

Getting over the previous gox high of $1242 is what matters.

That was the Mt.Gox ATH right?!
I don't this is relevant.
People will look for the Bitstamp and Bitfinex ATH.Only these count!
So far there is still some way to go (actual price is ~1050). Really curious if we can break it this time.


EXACTLY!!!

I was going to say a similar thing, but you beat me to it, Denker   Wink

If there is some indicator or measure that is questionable because it is (was) either manipulated in some way or it is artificial because of some restrictive (or overly permissive) practices (namely GOX), you are not going to use that as your measure of anything meaningful (beyond the desire to have a fantasy or to use pie in the sky indicators without any grounding...)
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February 07, 2017, 03:59:20 PM

The ETF date is the most interesting part about bitcoin at the moment.  As a regulator you would have to be insane to approve a bitcoin ETF in current state, so if it did get approved it would probably be the government trying to create some alternative target for people to waste their time in and keep them out of the metals markets.  When the current scam system starts to implode, gold will go to at least $20,000 an ounce in current buying power and silver will see even higher percentage gains.  The sooner people figure this out, the faster it does implode - which is why they don't want people creating bull runs in those markets and want to distract people with other things instead.

Someone is going to get all upset that I implied bitcoin is somehow not as good as metals, but by that I just mean that it's very likely metals will have a currency roll again or that the world reserve currency will be metals, while it's very unlikely a nation state or the world reserve currency would be bitcoin.  In fact, it would be a disaster since bitcoin isn't fungible with every transaction traced with white and black lists making it a permissioned ledger in that aspect.  Until/if that issue is resolved, nobody should be wishing for the government or wall street to have any affiliation with bitcoin whatsoever when the odds of it turning into some 1984 scheme are far higher than not.

Bitcoin doesn't come without risk, if the system collapsed for some reason. If it was compromised or hacked. That surely rules it out as a reserve currency. Its a bit intangible with no physical "thing".


I suppose the equivalent in, say gold, is that someone manages alchemy and gold is suddenly 2 a penny.


In our bizarre world who knows which might even happen.

Was it Einstein who said, quite seriously, that every action is eventually possible, if not for lack of resource to make it viable.

It's virtually but not entirely impossible to conceive that people will find a way to create gold or that bitcoin system be caused to crash. All scenarios are possible, just not practically or realistically possible.

That said, even I would prefer gold to bitcoin if i were a country hedging. Simply because it will always be there and have value in my lifetime. I think it will be easier for btc to lose half today's value next month than for gold to do that!

You are likely correct buwaytress; however, when you think of the downside of bitcoin, you also need to think about the upside of bitcoin.

If you only consider one of the sides, you are missing the value proposition and failing to account for a large variety of scenarios that could play out.

Accordingly, bitcoin has both a much greater downside and a much greater upside as compared with gold.... some scenarios are more probable than others to play out and each of us (including government officials) are going to assign differing probabilities to these future and not yet played out scenarios.

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February 07, 2017, 04:03:40 PM

I was right after all. Like I said, a little dip on weekend with low volume on Chinese market and the up trend continues at Monday. This is the banks cycle, so is very obvious who are behind the bitcoin manipulation, the same system that bitcoin was made to destroy.
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February 07, 2017, 04:04:54 PM

Why 1337 $ ??
For me will be a little lower than 1100

what matters is to top the previous high.

Getting over the previous gox high of $1242 is what matters.

^^^ irrelevant number due to insolvancy. Only $1165 Bitstamp matters.
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February 07, 2017, 04:25:21 PM

Good morning Bitcoinland.

I see the uptrend is continuing... currently $1057USD (Bitcoinaverage).

That's over 4 days over a grand now. Seems like it will stick this time.

For us Canucks it briefly passed $1400CAD. In the history of Bitcoin it's only been higher on 2 days, both in January of this year.

Go Bitcoin go.
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February 07, 2017, 04:38:46 PM

There will be people in the world that will buy bitcoin, use bitcoin, want bitcoin, even need bitcoin.  They will do this for many different reasons. The vast majority of these people will not be rich.  Most will be poor.

But when the rich people of the world suddenly see the opportunity to buy up bitcoin, their future intention is to sell it back to the middle class and the poor at 5X, 10X, or even 20X the price of what it was before.  They can do this just by gobbling up supply.

That's what the rich have done with real estate, PMs, stocks, etc.

So take heed, people. Why wait?  You need to be selling bitcoin back to them at 20X.
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February 07, 2017, 04:40:03 PM

So where was this $40 drop in one day that you are insinuating that happened?

Wishful thinking... The sucker has sold out his miserable bitcoin stash and now dreams to buy back at lower level. Sorry fish... We are going to crash through ATH within 48 hours!
Just popping in to say you were wrong, 'sucker'. Thanks for the laugh, 'sucker'.
Remember you were the one who started with 'sucker', 'miserable stash' and 'fish'.
You dont know me, and I dont know you. The lack of respect triggered me, I guess.

Still expecting a move down to 900ish for a brief moment. Maybe an event like the SEC not approving twinkly's ETF fits just nicely in my TA.
Still hodling though, and probably will for the time being. Go btc Go Wink
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February 07, 2017, 04:53:28 PM

There will be people in the world that will buy bitcoin, use bitcoin, want bitcoin, even need bitcoin.  They will do this for many different reasons. The vast majority of these people will not be rich.  Most will be poor.

But when the rich people of the world suddenly see the opportunity to buy up bitcoin, their future intention is to sell it back to the middle class and the poor at 5X, 10X, or even 20X the price of what it was before.  They can do this just by gobbling up supply.

That's what the rich have done with real estate, PMs, stocks, etc.

So take heed, people. Why wait?  You need to be selling bitcoin back to them at 20X.


In other words, if you cannot fight them, then join them...  Cheesy Cheesy Cheesy
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February 07, 2017, 04:57:31 PM

So where was this $40 drop in one day that you are insinuating that happened?

Wishful thinking... The sucker has sold out his miserable bitcoin stash and now dreams to buy back at lower level. Sorry fish... We are going to crash through ATH within 48 hours!
Just popping in to say you were wrong, 'sucker'. Thanks for the laugh, 'sucker'.
Remember you were the one who started with 'sucker', 'miserable stash' and 'fish'.
You dont know me, and I dont know you. The lack of respect triggered me, I guess.

Still expecting a move down to 900ish for a brief moment. Maybe an event like the SEC not approving twinkly's ETF fits just nicely in my TA.
Still hodling though, and probably will for the time being. Go btc Go Wink



Attention all "SUCKERS" and "FUCKERS":   This is called the interwebs, so there is really no need to become overly sensitive if someone uses some choice words that may or may not be directed at your person. 

Being on the interwebs with quasi-anonymity does not mean that you should not respond to such, only that for your own mental health, you should not allow such attempts at personal attacks and/or attacks of insensitivities to bother you on any kind of personal level.
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February 07, 2017, 05:04:45 PM

Why 1337 $ ??
For me will be a little lower than 1100

what matters is to top the previous high.

Getting over the previous gox high of $1242 is what matters.

^^^ irrelevant number due to insolvancy. Only $1165 Bitstamp matters.

Have to disagree. Technically, maybe. But mainstream media won't report that 'Bitcoin has risen above its ATH, where ATH means the Stamp high because the Gox high does count because there was this bot called Willy and...'

You're crediting them with a level of diligence they won't exercise. News will only come on $1,243.
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February 07, 2017, 05:15:02 PM

There will be people in the world that will buy bitcoin, use bitcoin, want bitcoin, even need bitcoin.  They will do this for many different reasons. The vast majority of these people will not be rich.  Most will be poor.

But when the rich people of the world suddenly see the opportunity to buy up bitcoin, their future intention is to sell it back to the middle class and the poor at 5X, 10X, or even 20X the price of what it was before.  They can do this just by gobbling up supply.

That's what the rich have done with real estate, PMs, stocks, etc.

So take heed, people. Why wait?  You need to be selling bitcoin back to them at 20X.


In other words, if you cannot fight them, then join them...  Cheesy Cheesy Cheesy

Yes, the vast majority of people in the world think that fighting them is to just sit on the sidelines and do nothing ("that'll teach 'em!"). Which is the stupidest strategy ever. No one ever became wealthy by doing nothing (except maybe the Hilton sisters, lol).

If you want to be wealthy, you have to take some risks.  Or just invest in the same things as the wealthy people do.
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February 07, 2017, 05:43:48 PM

it will get critical at gold parity (1 ounce is 31.1 grams):


http://pricedingold.com/bitcoin/
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February 07, 2017, 07:19:27 PM

Why 1337 $ ??
For me will be a little lower than 1100

what matters is to top the previous high.

Getting over the previous gox high of $1242 is what matters.

^^^ irrelevant number due to insolvancy. Only $1165 Bitstamp matters.

Have to disagree. Technically, maybe. But mainstream media won't report that 'Bitcoin has risen above its ATH, where ATH means the Stamp high because the Gox high does count because there was this bot called Willy and...'

You're crediting them with a level of diligence they won't exercise. News will only come on $1,243.


Who gives a ratt's ass about mainstream media?  Apparently, you do Cassius, and yeah maybe a few other folks who have their tin foil hats tuned to the wrong frequencies.

Yeah, we have to account for various renditions, framings, emphasis and attention of mainstream media, but accounting for their bullshit does not mean that we let them define BTC fundamentals or more realistic BTC measurements and indicators..

So, in this regard, since when are we allowing FUD to define BTC fundamentals?  Oh yeah, trolls and detractors like to do that.  I almost forgot.   Roll Eyes Roll Eyes

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February 07, 2017, 07:24:45 PM

There will be people in the world that will buy bitcoin, use bitcoin, want bitcoin, even need bitcoin.  They will do this for many different reasons. The vast majority of these people will not be rich.  Most will be poor.

But when the rich people of the world suddenly see the opportunity to buy up bitcoin, their future intention is to sell it back to the middle class and the poor at 5X, 10X, or even 20X the price of what it was before.  They can do this just by gobbling up supply.

That's what the rich have done with real estate, PMs, stocks, etc.

So take heed, people. Why wait?  You need to be selling bitcoin back to them at 20X.


In other words, if you cannot fight them, then join them...  Cheesy Cheesy Cheesy

Yes, the vast majority of people in the world think that fighting them is to just sit on the sidelines and do nothing ("that'll teach 'em!"). Which is the stupidest strategy ever. No one ever became wealthy by doing nothing (except maybe the Hilton sisters, lol).

If you want to be wealthy, you have to take some risks.  Or just invest in the same things as the wealthy people do.

I personally don't think that regular people have the same means of getting wealthy as wealthy people, so therefore, we have to be a bit more strategic with our resources in order to attempt to have a decent chance (when the odds are generally against folks with fewer resources).

It does seem that bitcoin can be one of those opportunities to level some of the playing field, but folks still need to be wise about their strategy and also to hedge in certain ways that protects them in the event that the market moves against them (in other words not investing more than they can afford to lose).    On the other hand, I do think that bitcoin does provide a potential opportunity to gamble and to get it right, but I don't really agree with that strategy for regular folks, so regular folks have to tailor their approach in such a way that gives them decent odds to prevail, while continuing to accumlate BTC.


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February 07, 2017, 08:00:26 PM

$1048.
The ride continues til now! Grin

We will see the Ath surpassed today at this rate! Smiley
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February 07, 2017, 08:34:40 PM

^bitcoin heading up towards $2000 ... it's just like the late 90s' internet bubble in its early phases! :-D
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February 07, 2017, 08:35:17 PM

Why 1337 $ ??
For me will be a little lower than 1100

what matters is to top the previous high.

Getting over the previous gox high of $1242 is what matters.

^^^ irrelevant number due to insolvancy. Only $1165 Bitstamp matters.

Have to disagree. Technically, maybe. But mainstream media won't report that 'Bitcoin has risen above its ATH, where ATH means the Stamp high because the Gox high does count because there was this bot called Willy and...'

You're crediting them with a level of diligence they won't exercise. News will only come on $1,243.


Who gives a ratt's ass about mainstream media?  Apparently, you do Cassius, and yeah maybe a few other folks who have their tin foil hats tuned to the wrong frequencies.

Yeah, we have to account for various renditions, framings, emphasis and attention of mainstream media, but accounting for their bullshit does not mean that we let them define BTC fundamentals or more realistic BTC measurements and indicators..

So, in this regard, since when are we allowing FUD to define BTC fundamentals?  Oh yeah, trolls and detractors like to do that.  I almost forgot.   Roll Eyes Roll Eyes



This is why I usually have you on ignore.
It's very simple. Mainstream media attention brings new people and therefore new money. That seems pretty fundamental for adoption to me. It's the difference between $1241 and $1243. Sorry you don't grasp this.
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