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

[steelboy]

https://hackernoon.com/why-everyone-missed-the-most-important-invention-in-the-last-500-years-c90b0151c169

great read. awesome.

Yep, enjoyed that.

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[fichtn12345]

Found UP-to date picture: 

So Amazon till Christmas? 

Confirmed.

[DARKHOLDER]

Found UP-to date picture: 

So Amazon till Christmas? 

Confirmed.

Btc like baby

[CoinCube]

https://hackernoon.com/why-everyone-missed-the-most-important-invention-in-the-last-500-years-c90b0151c169

great read. awesome.

Yep, enjoyed that.

Yes I second that thanks for sharing this 600watt. A thought provoking article on the topic of the evolution of civilization and accounting and how it relates to bitcoin.

The author Daniel Jeffries appears to be a science fiction author, engineer, serial entrepreneur, and now bitcoin commentator which makes for an interesting combination.

[r0ach]

I love how all these people talk about bitcoin becoming the world reserve currency worth 5 quadrillion dollars each without touching on the scalability factor at all, or the fact that it's designed to completely centralize, thus defeating the entire purpose in the first place.  Yet, completely centralized and with no scalability, let's talk about how bitcoin is going to "defeat gold"!

[Torque]

I love how all these people talk about bitcoin becoming the world reserve currency worth 5 quadrillion dollars each without touching on the scalability factor at all, or the fact that it's designed to completely centralize, thus defeating the entire purpose in the first place.  Yet, completely centralized and with no scalability, let's talk about how bitcoin is going to "defeat gold"!

Bitcoin is not trying to "defeat" Gold. Gold is technically no longer money either.

https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/did-gold-survive-the-depression/

[r0ach]

I love how all these people talk about bitcoin becoming the world reserve currency worth 5 quadrillion dollars each without touching on the scalability factor at all, or the fact that it's designed to completely centralize, thus defeating the entire purpose in the first place.  Yet, completely centralized and with no scalability, let's talk about how bitcoin is going to "defeat gold"!

Bitcoin is not trying to "defeat" Gold. Gold is technically no longer money either.

https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/did-gold-survive-the-depression/

You cited a complete fraud that said gold was going to collapse below $1000 like a year ago, then he gets called out on it and claims otherwise.  What this asshole does is he creates a spam of predictions, often ones that completely contradict one another, so no matter what happens he claims he's right. 

Before going to jail Armstrong gave all the same numbers as everyone else, that they will likely be forced to re-integrate metals into the currency which would bring gold to at least $20,000 an ounce at 40% backing.  Then he gets out of jail and mysteriously says "$5000 gold will be the top no matter what!".  So even with this guy shilling against metals now as some type of govt stooge, his bearish view would still bring enormous profits in things like silver (which is really just a leveraged play on gold).

[Torque]

You cited a complete fraud that said gold was going to collapse below $1000 like a year ago, then he gets called out on it and claims otherwise.

Go look at the chart, I'd say $1050 is pretty damn close. And with near infinite leverage they might be able to push Gold further down from here.

Before going to jail Armstrong gave all the same numbers as everyone else, that they will likely be forced to re-integrate metals into the currency which would bring gold to at least $20,000 an ounce at 40% backing.  Then he gets out of jail and mysteriously says "$5000 gold will be the top no matter what!".  So even with this guy shilling against metals now as some type of govt stooge, his bearish view would still bring enormous profits in things like silver (which is really just a leveraged play on gold).

IF they ever back a new currency with Gold. And that's a big "IF". My bet is that we'll see hyperinflation before that happens, which could be another 20 years down the road. At that point I don't know if I'll even care anymore. I'll have a little silver and maybe gold too just in case.

But in terms of how crashes go, the dollar has always been the best temporary safe haven. Anyone that says otherwise apparently can't read historical charts. Commodities have dived during crashes including precious metals. I expect that Bitcoin will take a temporary tumble as well, but I guess we shall see. It'll of course rally if banks start to fail and we get more QE.

[Dabs]

Bitcoin will centralize, with a several countries. Not just one. Scalability will come later or not, depends on what happens, but alts are already part of that.

[JayJuanGee]

So...weekend lift or dump?

I feel like it's a weekend dump.  It's either gonna roll over or rocket up, lol.

Does anyone think that we might be in a kind of ascending triangle with a tightening of the price range that is working out in such a way that an upwards breakout is likely to take place in the coming days?  so in that regard, we are likely to experience an upwards break before the end of the weekend resulting in another test of $3k?

Thereafter, if we actually get to the point of testing $3k resistance, what are the odds of breaking through $3k?  60% yes/40% no?

[rjclarke2000]

So...weekend lift or dump?

I feel like it's a weekend dump.  It's either gonna roll over or rocket up, lol.

Does anyone think that we might be in a kind of ascending triangle with a tightening of the price range that is working out in such a way that an upwards breakout is likely to take place in the coming days?  so in that regard, we are likely to experience an upwards break before the end of the weekend resulting in another test of $3k?

Thereafter, if we actually get to the point of testing $3k resistance, what are the odds of breaking through $3k?  60% yes/40% no?

5% yes

[White sugar]

So...weekend lift or dump?

I feel like it's a weekend dump.  It's either gonna roll over or rocket up, lol.

Does anyone think that we might be in a kind of ascending triangle with a tightening of the price range that is working out in such a way that an upwards breakout is likely to take place in the coming days?  so in that regard, we are likely to experience an upwards break before the end of the weekend resulting in another test of $3k?

Thereafter, if we actually get to the point of testing $3k resistance, what are the odds of breaking through $3k?  60% yes/40% no?

$3100 is the most important test point in my opinion, $3000 won't be as hard

[JayJuanGee]

So...weekend lift or dump?

I feel like it's a weekend dump.  It's either gonna roll over or rocket up, lol.

Does anyone think that we might be in a kind of ascending triangle with a tightening of the price range that is working out in such a way that an upwards breakout is likely to take place in the coming days?  so in that regard, we are likely to experience an upwards break before the end of the weekend resulting in another test of $3k?

Thereafter, if we actually get to the point of testing $3k resistance, what are the odds of breaking through $3k?  60% yes/40% no?

5% yes

5% yes to which part?  The whole thing?

I understand that there are at least a couple of steps:

Step 1) we have to get to the testing $3k resistance arena (let's call that getting above $2,920) - that is approximately within less than 3% of $3k.... getting to that resistance testing arena by the end of the weekend may be less than 50%

Step 2) We have to actually get above $3k - I am not sure whether flash spiking above $3k counts, but I suppose technically it does, even though it is more meaningful to actually stay above $3k - once we get into the test arena, the I give it better odds of breaking above, but we gotta get there first.

So maybe I am only giving less than 30% to the whole package, even though I am giving 60% for the second half, if we were to get there.



Edited after posting above:

$3100 is the most important test point in my opinion, $3000 won't be as hard

I agree with you, and relates to my second step idea, above about how much above $3k is sufficient  in order to stay above $3k, and you are correct probably $3,100 would be enough.  However, if prices go to $3,100, then it is pretty likely the next test of resistance would be in the $3,300 to $3,600 arena.

[RayX12]

Not even the drums of war are propping up the dollar.  Bullish for crypto!

https://www.youtube.com/watch?v=4DfKydv_XBQ

[rjclarke2000]

So...weekend lift or dump?

I feel like it's a weekend dump.  It's either gonna roll over or rocket up, lol.

Does anyone think that we might be in a kind of ascending triangle with a tightening of the price range that is working out in such a way that an upwards breakout is likely to take place in the coming days?  so in that regard, we are likely to experience an upwards break before the end of the weekend resulting in another test of $3k?

Thereafter, if we actually get to the point of testing $3k resistance, what are the odds of breaking through $3k?  60% yes/40% no?

5% yes

5% yes to which part?  The whole thing?

I understand that there are at least a couple of steps:

Step 1) we have to get to the testing $3k resistance arena (let's call that getting above $2,920) - that is approximately within less than 3% of $3k.... getting to that resistance testing arena by the end of the weekend may be less than 50%

Step 2) We have to actually get above $3k - I am not sure whether flash spiking above $3k counts, but I suppose technically it does, even though it is more meaningful to actually stay above $3k - once we get into the test arena, the I give it better odds of breaking above, but we gotta get there first.

So maybe I am only giving less than 30% to the whole package, even though I am giving 60% for the second half, if we were to get there.



Edited after posting above:

$3100 is the most important test point in my opinion, $3000 won't be as hard

I agree with you, and relates to my second step idea, above about how much above $3k is sufficient  in order to stay above $3k, and you are correct probably $3,100 would be enough.  However, if prices go to $3,100, then it is pretty likely the next test of resistance would be in the $3,300 to $3,600 arena.

5% to going over 3k this weekend.

I was truthfully saying this to wind you up a bit. I only said it as I remember saying 5% last weekend to you.

Never mind, the moment has passed.

Back to my real opinion.....I can't back this up and it's only a feeling but I think a bit more up and a lot more down followed by more up then down but mainly sideways........AND THEN 3k mid July. That's not too crazy a prediction is it?

[deepcolderwallet]

If a billionaire attempted a hostile takeover, the proof of work could be changed rather trivially.

This is a point! This is why I believe in Core. But how fast it could be done until we need a massive rollback Buterin's style?

It's going to cost a lot of money for such an attempt to take place.

Usually billionaries are very wary on where and how they spend their money, otherwise they wouldn't be billionaries in the first place. 

Actually you didn't answer my question. I don't care about what motivation would move a billionaire, just how fast the proof of work could be changed.

[JayJuanGee]

[edited out]

5% to going over 3k this weekend.

I was truthfully saying this to wind you up a bit. I only said it as I remember saying 5% last weekend to you.

Never mind, the moment has passed.

ah ha!!!

maybe your standard harassing answer could be to suggest everything that I suggest has less than a 5% chance of occurring?

And with the passage of time, either you will be labelled as overly pessimistic, or I will be labelled as incredible.. hahahaha

Back to my real opinion.....I can't back this up and it's only a feeling but I think a bit more up and a lot more down followed by more up then down but mainly sideways........AND THEN 3k mid July. That's not too crazy a prediction is it?

You could be right, and if you are then you are suggesting down and sideways before up, but not without some battleing.

I agree with the battling portion, especially because the trade volume seems to be continuing at a fairly decently high level - but I am a little more inclined for up and an earlier test of $3k, which may end up failing if we are not quite ready for going above it, yet, as you seem to be suggesting.

[sosasnois]

If we don't see any upside before june 28th and we break below 2650, I'm switching my sentiment to bearish

[marcus_of_augustus]

It looks to me like bitcoin price is being held down here however the mathematics of adoption waves are inexorable. They may be able to discourage some speculative activity and adoption by traders using simple price manipulation, FUD, pumping altcoins, etc but real world uses for bitcoin are multiplying as rapidly as ever, that's simply the network effect at work.

They can slow it but they cannot stop this train so sideways it is then until the brakes come off again. Looking forward to the future breakout action and the much needed base building here.

[N12]

Watch closely. This is how death begins.