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Question: Sept. 21 Closing Price:
$0 - 3 (3.9%)
<$8,000 - 4 (5.2%)
$8,000-$8,500 - 1 (1.3%)
$8,500-$9,000 - 1 (1.3%)
$9,000-$9,500 - 2 (2.6%)
$9,500-$10,000 - 5 (6.5%)
$10,000-$10,500 - 13 (16.9%)
$10,500-$11,000 - 15 (19.5%)
$11,000-$11,500 - 17 (22.1%)
$11,500-$12,000 - 4 (5.2%)
>$12,000 - 7 (9.1%)
>$20,000 - 5 (6.5%)
Total Voters: 77

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21366007 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (106 posts by 21 users deleted.)
Torque
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February 12, 2017, 04:49:27 PM

Three years ago, Bitcoin stabilizing around the $1K mark seemed like a dream.

Now look at it.

Where could we be three years from now??

Onward and upward to $5K!  Cheesy
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February 12, 2017, 04:53:42 PM

Three years ago, Bitcoin stabilizing around the $1K mark seemed like a dream.

Now look at it.

Where could we be three years from now??

Onward and upward to $5K!  Cheesy

Lol. I like this. Now $5k is only a dream. But I do heard dreams sometimes do happen.  Grin Grin Grin
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February 12, 2017, 05:00:30 PM

Good morning Bitcoinland.

The battle for a grand continues... exactly $1000USD (Bitcoinaverage).

My guess is sideways a while longer before continuing up.

OK is now at par with Stamp and Finex. This is a good thing.

Bitcoin isn't just a currency, and that's the whole point of it. If you think that this is all there is to it, then you don't truly understand where the underlying value stems from. How many people regularly use Gold in a similar fashion?

Exactly. Bitcoin has many uses.

What I see IRL is people, many of visible minorities, lined up to buy modest amounts of Bitcoins at local BTC ATMs.

Toronto is a city of many immigrants. I assume many of them are sending coins to family back home. It's the fastest and cheapest way to sent money abroad.

For me, it's a retirement savings plan with excellent growth. For others it's hedge against fiat devaluation.

Yes, it can also be used to purchase goods and services and to make donations, but that is still limited.

Hopefully that will expand.

When attempting to educate eye rolling skeptics who question bitcoins viability, the 1st attribute I would describe to them
is cost and relative speed of of sending funds securely anywhere in world.
When compared to bank wire transfers its a no brainer.
But as for the ease of said transactions?...maybe not so much, in that sender and receiver must obviously have appropriate
supporting software and accounts and more importantly "pc literacy"... which unfortunately to my mind, likely rules out 99% of
population... but we the crypto community are diligently working on it!
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February 12, 2017, 05:02:48 PM

Three years ago, Bitcoin stabilizing around the $1K mark seemed like a dream.

Now look at it.

Where could we be three years from now??

Onward and upward to $5K!  Cheesy
With that kind of logic, Bitcoin will go to infinity
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February 12, 2017, 05:05:39 PM


Probably the latter. If the ETF is approved, I would expect the official websites for purchase to be:
schwab.com
fidelity.com
vanguard.com
etrade.com
scotttrade.com
...
etc.

Which, of course, is why ETF approval would likely be bullish.
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February 12, 2017, 05:17:15 PM


Probably the latter. If the ETF is approved, I would expect the official websites for purchase to be:
schwab.com
fidelity.com
vanguard.com
etrade.com
scotttrade.com
...
etc.

Which, of course, is why ETF approval would likely be bullish.
It being bullish is not in question here.
That is the point of it. To downcast any kind of market manipulation from going on.
It is a security as most have defined it as in recent threads.
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February 12, 2017, 05:18:52 PM

lol, bitcoin has to 560fold for them to catch up. hm... long shot.  Cheesy

If bitcoin market cap were to equal that of gold's (today), that would be about the price.

#justsayin
But gold can not be manipulated so easily in the market as bitcoin can and is being done currently.
Until it can get a good backing like gold has in the federal reserves it will never be even close as stable as the gold prices are changing in the form of $2-20~ a per day.
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February 12, 2017, 05:24:02 PM

But gold can not be manipulated so easily in the market as bitcoin can and is being done currently.
Until it can get a good backing like gold has in the federal reserves it will never be even close as stable as the gold prices are changing in the form of $2-20~ a per day.

i was kind of under the impression that gold is one of the world's most rigged markets. even if it isn't formally manipulated, the paper gold factor destroys price credibility.
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February 12, 2017, 05:25:03 PM

Three years ago, Bitcoin stabilizing around the $1K mark seemed like a dream.

Now look at it.

Where could we be three years from now??

Onward and upward to $5K!  Cheesy
With that kind of logic, Bitcoin will go to infinity

$200,000 fair value per bitcoin :-D *hodl & watch!*
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February 12, 2017, 05:39:54 PM

Is it really severely undervalued? Look at my post above with the transaction bandwidth edit. How is Bitcoin severely undervalued without diving into speculative growth? Bitcoin's primary draw is as an investment tool for speculation. How many of you here regularly use Bitcoin as a currency to buy and sell goods for?
Bitcoin isn't just a currency, and that's the whole point of it. If you think that this is all there is to it, then you don't truly understand where the underlying value stems from. How many people regularly use Gold in a similar fashion?

Bitcoin's intent was to be a digital form of cash. It is both a currency and a means of payment processing. This was pointed out right in the whitepaper. Even if Bitcoin now fills a different space, its outward intention was to function as both a currency and payment processor.

Now don't get me wrong, Bitcoin can scale [not to the level of Visa I don't think], but it is highly likely it will not in any substantial way. If a dynamic block size is implemented along with blockchain pruning then we could see many times more transactions processed per second, but just a basic increase [not even looking at pruning] has not made any meaningful progress towards consensus. And even if the network could handle it, how many of you actually use Bitcoin to buy and purchase goods and why not just use any other payment processing network?

GBattaglia.   You seem to be purposefully attempting to create a strawman argument with your emphasis on payment systems (which is only one part of bitcoin).  

I will admit I am playing devils advocate to some extent, but that is due to some of my disillusionment with how Bitcoin has evolved over the past 4+ years I've followed it. I believe most people would have very little interest in Bitcoin if its price remained stable or if it just increased in value slowly [will say 10% year, which is still pretty fast but about the value gold has risen over the past 15 years]. Most people's interest in Bitcoin itself is as a speculative tool it seems. And that part of Bitcoin I'm focusing on does seem like what Satoshi intended to be the primary draw of Bitcoin in his whitepaper; digital cash.
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February 12, 2017, 08:52:12 PM

Is it really severely undervalued? Look at my post above with the transaction bandwidth edit. How is Bitcoin severely undervalued without diving into speculative growth? Bitcoin's primary draw is as an investment tool for speculation. How many of you here regularly use Bitcoin as a currency to buy and sell goods for?
Bitcoin isn't just a currency, and that's the whole point of it. If you think that this is all there is to it, then you don't truly understand where the underlying value stems from. How many people regularly use Gold in a similar fashion?

Bitcoin's intent was to be a digital form of cash. It is both a currency and a means of payment processing. This was pointed out right in the whitepaper. Even if Bitcoin now fills a different space, its outward intention was to function as both a currency and payment processor.

Now don't get me wrong, Bitcoin can scale [not to the level of Visa I don't think], but it is highly likely it will not in any substantial way. If a dynamic block size is implemented along with blockchain pruning then we could see many times more transactions processed per second, but just a basic increase [not even looking at pruning] has not made any meaningful progress towards consensus. And even if the network could handle it, how many of you actually use Bitcoin to buy and purchase goods and why not just use any other payment processing network?

GBattaglia.   You seem to be purposefully attempting to create a strawman argument with your emphasis on payment systems (which is only one part of bitcoin).  

I will admit I am playing devils advocate to some extent, but that is due to some of my disillusionment with how Bitcoin has evolved over the past 4+ years I've followed it. I believe most people would have very little interest in Bitcoin if its price remained stable or if it just increased in value slowly [will say 10% year, which is still pretty fast but about the value gold has risen over the past 15 years]. Most people's interest in Bitcoin itself is as a speculative tool it seems. And that part of Bitcoin I'm focusing on does seem like what Satoshi intended to be the primary draw of Bitcoin in his whitepaper; digital cash.

In other words, at the risk of repeating what others in this line of conversation already suggested, you are admitting that you are not really engaging in a genuine conversation in order to suss out the value of bitcoin.  You are parcing out some choice aspect and then focusing on that choice aspect and attempting to suggest that is the whole of value of bitcoin.

Let me play along for a short-period, though.  Yeah, there are a variety of lame arguers who want to suggest that bitcoin is ineffective because it cannot compete against various centralized credit card services or other centralized payment processors. 

So fucking what?  Since bitcoin is decentralized, it has to go through various hoops to prove is secure before it can start to attempt to achieve mass adoption or mass processing.  It makes no fucking sense that bitcoin should go from zero to 1,000 without making sure that it is secure first.  Yeah, no road map was outlined by Satoshi regarding how to get to a "peer to peer cashless payment system", but you know what, when you look at the situation, it makes sense to make sure that the peer to peer and the security is powerful and robust.. before the payment system becomes either mass adopted or on a similar level to some centralized system. 

On the other hand, bitcoin remains amazing because it is accomplishing a lot in terms of bolstering the various aspects of the peer to peer and the secure in order to make the payment system to become more robust when it actually does evolve to a higher mass adoption level.   On the other hand (am I running out of hands, yet?), bitcoin already serves as secure payment system that just is not at the mass adoption level, yet so there is considerable value in the system "as is" even if it evolves no further.

Regarding processing payments through fiat and credit and other traditional system, yes we can do both, and we need not use bitcoin on that level - especially if we have the option to use the other system, as well... but still does not mean that bitcoin is not bringing something to the table, even though there exist several systems that are options to a lot of people.   Conversely, if some people do not have access to some of those other payment and credit systems, then there is likely a place for bitcoin for those under banked folks... right now that is available to those people, even if they have not learned about it yet.   Shocked
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February 12, 2017, 09:07:20 PM
Last edit: February 12, 2017, 09:21:49 PM by bitcoinvest

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Well going down today from ~956€ to ~943€ it's normal but looking the orders in the graph looks like the selling bigger and is going to be bring more down the price...
of course tomorrow is Monday and money can go again to exchanges Smiley
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February 13, 2017, 12:57:53 AM

Bitcoin's intent was to be a digital form of cash. It is both a currency and a means of payment processing. This was pointed out right in the whitepaper. Even if Bitcoin now fills a different space, its outward intention was to function as both a currency and payment processor.

Now don't get me wrong, Bitcoin can scale [not to the level of Visa I don't think], but it is highly likely it will not in any substantial way. If a dynamic block size is implemented along with blockchain pruning then we could see many times more transactions processed per second, but just a basic increase [not even looking at pruning] has not made any meaningful progress towards consensus. And even if the network could handle it, how many of you actually use Bitcoin to buy and purchase goods and why not just use any other payment processing network?

Bitcoin is not about high throughput, it is about security and trust-minimisation. This is what gives it value over traditional systems, and why we sacrifice computational and energy efficiency. Throughput should be left to peripheral networks, that use Bitcoin as the settlement layer. The lower fees, faster transactions, and still-better-than-VISA security should increase Bitcoin's appeal in payment cases where it is presently disfavoured.
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February 13, 2017, 01:10:33 AM

So somebody at Stamp wants exactly $999.9999 (or er, exactly $1K) for like days.

Right guyz?  Right??

For what reason, nobody seems to know.

Nope, not manipulated. Nope not at all.

Nope.
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February 13, 2017, 02:28:23 AM

So somebody at Stamp wants exactly $999.9999 (or er, exactly $1K) for like days.

Right guyz?  Right??

For what reason, nobody seems to know.

Nope, not manipulated. Nope not at all.

Nope.
wild theory

999.99$ looks considerably cheaper then 1000$ ( subjectively speaking )  poeple buy 999.99 and the price moves to 1000's and they stop buying because to LOOKS more expansive this causes price to drop  to 999.99 again and the cycle starts over.

the market ITSELF is manipulating us   Shocked
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February 13, 2017, 02:29:42 AM

So somebody at Stamp wants exactly $999.9999 (or er, exactly $1K) for like days.

Right guyz?  Right??

For what reason, nobody seems to know.

Nope, not manipulated. Nope not at all.

Nope.


oh gosh!!!!  The only manipulation there is happens to be your ongoing attempts to manipulate facts to your lame-ass numerology theory.   Roll Eyes Roll Eyes
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February 13, 2017, 02:52:01 AM

Wild theory indeed... but something weird seems to be happening at stamp... Last couple of hours someone has been using 15BTC and 30BTC bids to push and pull the price a little bit... right now placing them a full 2 USD above any other bid, its pulling the price up to 1004.

Due to my staggering lack of experience, no conclusions  Grin just observation

PS: first post, been reading along with you guys for a while, thanks for the useful info in the last couple of weeks

PPS: the 999/1000 USD psychological effect was pretty evident as well, like killerpotleaf said
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February 13, 2017, 02:58:36 AM

Wild theory indeed... but something weird seems to be happening at stamp... Last couple of hours someone has been using 15BTC and 30BTC bids to push and pull the price a little bit... right now placing them a full 2 USD above any other bid, its pulling the price up to 1004.

Due to my staggering lack of experience, no conclusions  Grin just observation

PS: first post, been reading along with you guys for a while, thanks for the useful info in the last couple of weeks

PPS: the 999/1000 USD psychological effect was pretty evident as well, like killerpotleaf said

The fact of the matter is that it is very difficult to determine exactly what is going on, unless you happen be part of the ones playing those coins to test resistance or support or to attempt to hold the price.  Also, the price on one exchange can sometimes lead other exchanges, yet other times, it can sometimes hold back, or sometimes the other exchanges do what they are going to do, and the lagging one has to catch up.

Sure, watching helps, but it is not easy to determine - and sure sometimes, there can be the use of bots on various exchanges, maybe some exchanges are easier to accomplish than others, and I am sure some folks participating in this thread may have even experienced a bit with their own bots or variations of bots.

Edit:  regarding your PPS.. Oh please don't tell me that you are going to jump on to the numerology baloney.

Yeah, sure there are various obvious price sticking points  and sometimes they will stick around obvious numbers because people put their orders there, and we can all have fun with some of the numerology stuff, but when you start to take that numerology crap too seriously and try to read too much into it, then some of us are going to wonder how well grounded you are....

Yes, let's have some fun with numerology.. .. but going further  Roll Eyes Roll Eyes
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February 13, 2017, 03:02:45 AM

So somebody at Stamp wants exactly $999.9999 (or er, exactly $1K) for like days.

Right guyz?  Right??

For what reason, nobody seems to know.

Nope, not manipulated. Nope not at all.

Nope.


oh gosh!!!!  The only manipulation there is happens to be your ongoing attempts to manipulate facts to your lame-ass numerology theory.   Roll Eyes Roll Eyes

What, no rambling, incoherent, circular, wall-o-text this time JJG?

I mean it's not like you don't have the time, sitting in your mom's basement and all...
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February 13, 2017, 03:04:02 AM

So somebody at Stamp wants exactly $999.9999 (or er, exactly $1K) for like days.

Right guyz?  Right??

For what reason, nobody seems to know.

Nope, not manipulated. Nope not at all.

Nope.


oh gosh!!!!  The only manipulation there is happens to be your ongoing attempts to manipulate facts to your lame-ass numerology theory.   Roll Eyes Roll Eyes

What, no rambling, incoherent, circular, wall-o-text this time JJG?

Yes, I got's myself some variation in my skills.....  thank you very muchie...  Tongue Tongue
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