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Question: Dec. 14 Closing Price:
<$6,000 - 10 (10.2%)
$6,000-$6,500 - 5 (5.1%)
$6,500-$7,000 - 11 (11.2%)
$7,000-$7,500 - 16 (16.3%)
$7,500-$8,000 - 19 (19.4%)
$8,000-$8,500 - 12 (12.2%)
$8,500-$9,000 - 5 (5.1%)
>$9,000 - 20 (20.4%)
Total Voters: 98

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21460524 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. (137 posts by 31 users deleted.)
Dabs
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May 29, 2017, 12:23:57 PM

Is bitcoin decentralized? Yes.
Does bitcoin have value? Yes.
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May 29, 2017, 12:31:17 PM

Now that's a fine perspective:



A summary of James Turk's useless predictions.

http://www.dvdbeaver.com/Gary/gold/james_turk.htm
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May 29, 2017, 12:36:49 PM
Last edit: May 29, 2017, 01:33:09 PM by toknormal


What about what Risto was saying that we need a red candle this week for the market to stay healthy ?

I wish that we finish the week lower than the previous. Because 7 or more weekly greens is danger zone.

But it looks to me like we've only had 4 green weekly candles in a row - strictly speaking - but maybe he's dismissing the April 13th one as not significant enough.

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May 29, 2017, 12:50:31 PM


What about what Risto was saying that we need a red candle this week for the market to stay healthy ?

I wish that we finish the week lower than the previous. Because 7 or more weekly greens is danger zone.

But it looks to me like we've only had 4 green weekly candles in a row - strictly speaking - but maybe he's dismissing the April 13th one as not significant enough.



where have you got this from ?

when i check the charts at bitcoinwisdom (bitstamp weekly candles) there are 6 fat green candles in a row and the 7th is in the making.
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May 29, 2017, 12:55:31 PM


where have you got this from ?

when i check the charts at bitcoinwisdom (bitstamp weekly candles) there are 6 fat green candles in a row and the 7th is in the making.

Cryptowatch.

https://cryptowat.ch/bitstamp/btcusd

(Switch to 1W in the little pop-down menu at left end of top toolbar). They probably just have different reference days for the start of the week, so shows you it's really arbitrary whether we have 7 green candles or not.
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May 29, 2017, 01:02:05 PM

Pretty sure those are candles for every 3 days.
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May 29, 2017, 01:08:19 PM


Pretty sure those are candles for every 3 days.

According to the menu it's the 1Week. The 3 day one looks like this:


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May 29, 2017, 01:16:33 PM


Pretty sure those are candles for every 3 days.

According to the menu it's the 1Week. The 3 day one looks like this:




This is EXACTLY the chart you posted before.
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May 29, 2017, 01:25:26 PM


****** Amber Alert ******

Draghi is live right now talking about the implication of "decentralised ledgers" and the "blockchain" on the Euro Central bank's role as central issuer for the Euro.

Talking about 'fragmentation of the payments system' that 'may affect the efficiency of transmission mechanisms of monetary policy'. He's trying to make it sound constructive saying 'fintech' can assist the role of the credit markets in expanding the economy.

http://www.zerohedge.com/news/2017-05-29/watch-live-draghi-speaks-euro-parliament-makes-case-more-easing

Lots of ominous sounding inuendo, not planting his flag on one side or another. "Appropriate regulatory responses" required to mitigate risks to customers.
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May 29, 2017, 01:33:54 PM


This is EXACTLY the chart you posted before.

Apologies. You were right - the first one was a 3 Day.

Now fixed, but still only 5 greens.
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May 29, 2017, 01:38:44 PM

As for the other guy talking about metals, due to the seasonal aspect of the metals market, I believe July is usually the best month to buy, then the market tends to pump from August onwards.  If bitcoin was flat or down at that time, yea, it would be a good idea to dump bitcoin for metals.  Silver is closing in on a wedge that I believe is going to break upwards hard long before August, though.  They simply can't push them down much lower than they already are, and they definitely can't push platinum down any more (although I like silver better for the monetary Schelling point since platinum is not considered a monetary metal by most).

If it makes you feel any better r0ach, I did buy some silver the other day. Bought 20 oz at spot price. I agree that silver is highly undervalued right now if you look at historical charts. I didn't sell bitcoin to buy it though. Just had some extra money to put to it. Everyone should probably own a little PM. But imo the vast majority of your $$$ should be in BTC.

Gold otoh, I'm not so sure. Looking at historical chart, it could fall another $300 before it bottoms out. I'm sure it's being held down by the "invisible hand" as well. Fkn naked shorts.
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May 29, 2017, 01:47:16 PM

... I did buy some silver the other day. Bought 20 oz at spot price. I agree that silver is highly undervalued right now if you look at historical charts.
What kind of silver did you get? Coins? Bars? (bullion?) Thinking of getting some metals myself.
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May 29, 2017, 01:48:05 PM




I think he's alluding to the type of blockchain that lets bank do settlements. But those type of blockchains are better hosted on an SQL server.
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May 29, 2017, 01:54:47 PM

... I did buy some silver the other day. Bought 20 oz at spot price. I agree that silver is highly undervalued right now if you look at historical charts.
What kind of silver did you get? Coins? Bars? (bullion?) Thinking of getting some metals myself.

2- 10oz bars. Easier portability and storage. Was thinking about maybe getting some coins at some point too, just for fun.
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May 29, 2017, 02:11:28 PM

I wonder how can someone call this "storage of value" and then claim Bitcoin isn't at all:

http://www.macrotrends.net/1470/historical-silver-prices-100-year-chart
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May 29, 2017, 03:22:36 PM


2- 10oz bars. Easier portability and storage. Was thinking about maybe getting some coins at some point too, just for fun.

Coins make great presents so I end up giving them away. Need to buy some more. Especially with the price since I last bought.
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May 29, 2017, 03:32:37 PM

Does anybody else keep getting posts deleted in this thread, some that were made months ago? Some kill joy is deleting all the rocket, moon, raining money gifs & pics I've made over time Cheesy

Go to the Wall Observer thread over on bitco.in. No censorship and it could do with a bit of livening up.

It also has ChartBuddy.

I'm sure this will get censored too so PM inbound.
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May 29, 2017, 03:39:30 PM

I remember when block space was cheap as chips. What's in store for those dApps when it's a buck a transaction? Am I missing something?

They'll most likely need off-chain computation to scale e.g. Truebit. However, if they're going to do second layer tech where Ethereum is just used for settlement, I don't see why you'd need Eth and its virtual machine at all. You could just as easily use Bitcoin surely (well, assuming we ever get Segwit).


me thinks this is a last attempt on a push down on the whole market..but this is a imo..a beartrap...

be smart, ignore this on all coins, hodl everything and you will be happier in a week +

dont risk losing a huge % gain by gambling for a small temp gain

The market is exploding with new users everyday, new exchanges...big ones opening very soon too

Agree. I Hodl.
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May 29, 2017, 03:57:05 PM

Ok, people.  I'm tired of fucking around with ambiguous definitions:  Is bitcoin decentralized?  Does bitcoin have value? etc.  I have decided to address these issues from proof of work to proof of stake where a normal human can easily quantify if Bitcoin or any other cryptocurrency has value and whether it will live or die:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

It's relatively short to read, but if you want the TLDR version, my stance is that proof of stake has no value whatsoever and I explain why, and proof of work with ASIC is almost functionally the same thing (externalized proof of stake) in practice and would also have no value.  I don't think anyone will find a valid argument against this post.
I do not think you understand the meaning of decentralized. Bitcoin is only centralized logically which is desired. Politically and architecturally it is decentralized. You should be clear that you are arguing for the fact that you "think" it is not politically decentralized. You cannot argue it is not architecturally decentralized because that would simply not be true.

With that you should revisit your article and perhaps I will read it when it is well understood that the author understands the meaning of decentralization on which his whole argument is formed. Heh, you mention ambiguous definitions are tiresome yet you then go off and give assumptions and hypothesis' based on ambiguous definitions yourself.

You can't be serious.  You're basically making the argument that anything where someone has not double spent *YET* or *CONSTANTLY* is automatically decentralized.  That's not how this works.  You are not automatically proven to be decentralized with a functional Nash equilibrium until mass armageddon begins.  It is ironic that the ASIC factory sunk cost is the only reason there is not constant double spend, but those same ASICs also make the system inherently worthless and the equivalent of a closed entropy system at the same time.
The barrier of entry is low into asics as you can buy contracts and  im not sure how you arrived to your conclusion on the correct charcterizatiom based on double spends. You should work on your ambigious definitions first to figure out what argument you are trying to make clearly and then draw upon your hypothesis because of reason a b and c. I do not see that from your attempt.
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May 29, 2017, 04:05:47 PM

I hope that Segwit+2MB gets enough support to finally end this absurd war. At this time it looks as the only non contentious alternative. I don't like the idea of non unanimous hard forks, nor UASF. Whatever is supported by an almost unanimous majority is ok to me at this time (Well, except BU/EC as I am totally against it).

Seemed like a decent compromise to me. Core programmers snubbing it was disappointing.
Agreed, the total lack of ability to make a compromise, even one that doesn't seem to have big drawbacks is disappointing.
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