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

[White sugar]

this volatility is joke. It can't be classed as a serious investment, we can have fun with it, but 40% falls in a few hours without any real reason, that isn't a serious investment.

Times like this call for sound advice from the lord of bitcoin, MatTheCat:

these markets are just not to be traded

The majority who invest money in a vacuos asset like Bitcoin are certain to lose

So my plan is to look for long setups

I am hoping to walk away with other players money.

Fucking rat cocksuckers. 6 fucking BTC trade with Stop Order

I would gladly see Bitcoin die tomorrow

a cabal of vampire parasites takes its place....

You should also quote the price when each statement has been made.

Only thing I could say is:



Also you once said that Litecoin would give much more ROI than Bitcoin, but it is just melting right now

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[UnDerDoG81]

Just woke up, what a mess   As expected... This is the reason why Bitcoin never will succeed. People can´t trust this. Now the media shitstorm will start all over again.

bs

You remember that Gox scenario? It took almost 4 years to recover... I feel the same this time. When you own 100 coins, thats a loss of $100k in 3 days, insane... They must regulate bitcoin, otherwise people will always call it Fonzi and Scam...

[r0ach]

Just woke up, what a mess   As expected... This is the reason why Bitcoin never will succeed. People can´t trust this. Now the media shitstorm will start all over again.

It's a good thing.  If you could play god and decide whether silver or bitcoin will be the main monetary instrument of the common man on the planet and get to insider invest beforehand, there is ZERO reason anyone should choose bitcoin.  Metals are a better store of value, lower counter party risk, just as much or higher upside potential as bitcoin (for silver), and it's 100% inevitable if bitcoin doesn't die it would be completely co-opted by the state and turned into a cashless society slave system.

[lost_in_base]

Time to short to recover 7k losses

Yes goof idea. What price did you buy at?

900.
 So no real loss

Just shorted at 1949, and buy back at 1860

[ImI]

Just woke up, what a mess   As expected... This is the reason why Bitcoin never will succeed. People can´t trust this. Now the media shitstorm will start all over again.

bs

You remember that Gox scenario? It took almost 4 years to recover... I feel the same this time.

Except that we have no Gox-like event this time. At least not yet.

[julian071]

Fuuuuuuuck missed my buy order by 1 fucking euro =(

[orpington]

cavalry have arrived.

10K 'round the corner

[Elwar]

This may very well be the final bubble. Previous bubbles doubled 6 times, 5 times, then 4 times, and for some reason this time it only doubled once. I was expecting 3.

The end to bubbles is a good thing though.

The "return to mean" is over $1700 which I feel is still a decent price.

[lost_in_base]

Fuuuuuuuck missed my buy order by 1 fucking euro =(

new down hill coming

[r0ach]

You remember that Gox scenario? It took almost 4 years to recover... I feel the same this time. When you own 100 coins, thats a loss of $100k in 3 days, insane... They must regulate bitcoin, otherwise people will always call it Fonzi and Scam...

Regulation does nothing.  Link courtesy of anonymint:

http://esr.ibiblio.org/?p=984

Basically what it means is, regulatory agencies are always doomed to enter regulatory capture and be controlled by the entity they are supposed to regulate.  So with no regulation, you usually end up trading against the house (the exchange owners) as they buy or sell coins that don't even exist, gox-style, to squeeze all the longs and shorts, or just flat out steal them (like Bitfinex) because there's no penalty for them doing so.  When you bring in regulation, it becomes captured by the same people and you are still trading against the house, just they now have the legal system backing them to boot.  

The only way to mitigate this effect at all is to take physical possession of the commodity/currency yourself.  Such a thing is not really even possible with bitcoin because even if you own the private keys, it still has far higher counter party risk than metals.  A random bitcoin dev could wake up one morning and decide to try and fork the network, or a random chinaman could try and do a 51% attack, etc.  Bitcoin counterparty risk is still enormous even if you hold the private key because...the coins still reside on the blockchain and you didn't actually take possesion of anything...

[hmmkay]

Meanwhile my goto place for bitcoins is sold out.

[Karpeles]

Just woke up, what a mess   As expected... This is the reason why Bitcoin never will succeed. People can´t trust this. Now the media shitstorm will start all over again.

It's a good thing.  If you could play god and decide whether silver or bitcoin will be the main monetary instrument of the common man on the planet and get to insider invest beforehand, there is ZERO reason anyone should choose bitcoin.  Metals are a better store of value, lower counter party risk, just as much or higher upside potential as bitcoin (for silver), and it's 100% inevitable if bitcoin doesn't die it would be completely co-opted by the state and turned into a cashless society slave system.

Hey R0ach, why do you always speak as if there a war between gold/silver and Bitcoin for world currency dominance, and only one could win and the other will certainly die
You know that Bitcoin doesn't have to be the main monetary instrument of common people to be a good investment, right?. There will ever be only 21M Bitcoins mined, so even if less than 1% of the people in the planet invest in Bitcoin, still will be more than enough to make most of us filth rich.

Bitcoin and metals can live happy and together

[Asrael999]

On the upside - bitcoin market dominance is back over 50% 

[toknormal]

Just woke up, what a mess   As expected... This is the reason why Bitcoin never will succeed. People can´t trust this. Now the media shitstorm will start all over again.

wtf are you talking about ?

This is nothing. The retrace is about right and essential to growth. If you want to avoid another 3 year bear market then this is exactly what's needed after a run-up like that. It was only christmas that we went past $1k. We're currently at 100% gain since then.

Maybe start worrying if it goes all the way back to $500.

[Searing]

Just woke up, what a mess   As expected... This is the reason why Bitcoin never will succeed. People can´t trust this. Now the media shitstorm will start all over again.

bs

You remember that Gox scenario? It took almost 4 years to recover... I feel the same this time. When you own 100 coins, thats a loss of $100k in 3 days, insane... They must regulate bitcoin, otherwise people will always call it Fonzi and Scam...

Ouch....coin wise I resemble the above....blood in the streets.....(mommy!)

Still holding, helps I mined the btc, clear, only thing in now is time/labor/hobby.....thus if it goes to $1 my ego is intact..I'm still ahead (I'm crying thru my smile....sob)

Denial, the opt out on crypto....

[UnDerDoG81]

Well, sorry if I was a bit mean. Just pissed off. If I would have listen to my gut, I would have sold @2.7k since I thought thats enough money to buy me a house and have a good life. But I was hyped and greedy. Now I am pissed So I guess, hodl another 5 years and check back...

[kurious]

Time to short to recover 7k losses

Jeez, I hope you didn't short.  1850 was probably the time to buy.

I didn't catch it, risked buying back some at 1899, but could not move fast enough for 1850, it was there for no time at all.

Where are the 'BTC is not volatile' chaps right now?

Oh, and if it it looks like a bubble and acts like a bubble?  It's probably a bubble - anyone not selling a few on the way up was deluded, a correction was obviously possible, even if the bull-trend is not broken.  

Not much fiat can enter over a weekend and with some serious parts of the world on a three-day weekend, it was a great time for a dump.  

They don't say 'sell in May and go away' for nothing.

Edit: spelling.

[r0ach]

Hey R0ach, why do you always speak as if there a war between gold/silver and Bitcoin for world currency dominance, and only one could win and the other will certainly die

Bitcoin and metals can live happy and together

Vermin like Larry Summers and Ben Bernanke are promoting "cryptocurrency" now.  Do the math.  The main purpose of bitcoin is currently regulatory arbitrage, which is something the state would never allow on a long timeline.  They will claim volatility is too high + too many people are laundering money or not paying taxes and will force something like chain anchor on people, or create a fixed address alias system wrapper to go around bitcoin and mandate everyone use it or be considered a launderer.  

Bitcoin is stupidly easy for the state to co-opt, that's why they WANT you to use it.  They want all the cattle herded into this bullshit and out of the gold and silver market so they can then slam the door shut on the slaughterhouse with everyone trapped inside.  You are basically helping them enslave you by using it because it's inevitable they will turn this into their cashless society slave system in one way or another.  It's also clear all the R3 banker scum own far more Ethereum than Bitcoin, which is why they are constantly trying to pump completely useless and centralized Ethereum too.  

[HI-TEC99]

Just woke up, what a mess   As expected... This is the reason why Bitcoin never will succeed. People can´t trust this. Now the media shitstorm will start all over again.

bs

You remember that Gox scenario? It took almost 4 years to recover... I feel the same this time.

Except that we have no Gox-like event this time. At least not yet.

Apparently we had the opposite this time. Either Gox is moving towards solvency, or was briefly solvent at the ATH.

2400 on bitstamp, eh? I guess this means Mt. Gox is solvent againt.

https://news.bitcoin.com/bitcoins-price-rise-mt-gox-closer-solvency/

[European Central Bank]

so are we really gonna sell in may and go away? i'd be disappointed if the bitcoin market was that much of a cliche.

damn, maybe it is.

and maybe there's gonna be an epic winter again too.