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

[Elwar]

The fix is in folks. It looks like a lot of bitcoin users have discovered this great currency called the dollar and are buying it all up. I heard that this dollar thing has a feature where it is made from paper. Bitcoin doesn't have that. Should we upgrade to get more users?

But I can buy lots of papers with 1 dollar, why should I hold them when there are cheaper papers around?

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[drbrockcoin]

Ugh so i got a new account, lost my old one years ago.
Been out of the bitcoin world for a few years as I had to sell my stash about 1.5 years ago as I needed the money, knew I would regret it but thats life.
Anyway Im back now and have a small stash of about £300 in various altcoins. My aim is to get back a nice BTC stash.

Just wondering if there is any point in trying to daytrade (not that I ever have, need to learn) with this small amount or am I better to wait until I have thousands in FIAT/coins?

Any feedback would be much welcome

thank you. now I understand who is buying the alts and why. it is not only new guys. it is guys who want to recover their bitcoin stash they once had. if one´s resources are limited (who´s aren´t?!) your approach makes perfect sense. buy some alts and hope there is a winner.

isn´t it ironic that bitcoin experiences heat from altcoins ("loosing" it´s "dominance") because of people trying to get more... bitcoins?

it is always the same: bitcoins biggest problem arise from its success.  

good luck and welcome back.

  

HAHAHA thanks yes good point there, I mean if I had to choose only one coin to have everything in then of course it would be Bitcoin. I just see altcoins mostly as a pump and dump scheme although im sure there are a few with valid real world application which is owrth having a long term stake in, but for me personally my priority is to get to 0.5btc, then 1,  then 5 etc

[Dakustaking76]

Were going lower
There is No bad news nothing But still its going down
The uptrend ended i think?
Azië is awake already But its not going Well for the crypto

[megashira1]

Were going lower
There is No bad news nothing But still its going down
The uptrend ended i think?
Azië is awake already But its not going Well for the crypto

This is the final shakeout before the parabolic rise post segwit implementation.

Everyone needs to watch this recent podcast

https://www.youtube.com/watch?v=Dcw-1JZPbvA&t=1

We are most definitely going to be seeing 5 figures soon.

[Eric Cartman]

Were going lower
There is No bad news nothing But still its going down
The uptrend ended i think?
Azië is awake already But its not going Well for the crypto

look at the great picture

still good valuation for this year, and this is not the half of year yet

[rjclarke2000]

https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/



Those of you who know MasterLuc, he has been accurate in the past. Here is his prediction. If this is true then no need to panic.


I don't believe a lot of predictions but for some reason I am drawn to his posts and opinions.

[mOgliE]

isn´t it ironic that bitcoin experiences heat from altcoins ("loosing" it´s "dominance") because of people trying to get more... bitcoins?

HAHAHA thanks yes good point there, I mean if I had to choose only one coin to have everything in then of course it would be Bitcoin. I just see altcoins mostly as a pump and dump scheme although im sure there are a few with valid real world application which is owrth having a long term stake in, but for me personally my priority is to get to 0.5btc, then 1,  then 5 etc

Totally true.
People trading altcoins mostly see this as a way to earn BTC
At least that's how I see it. My trades in altcoins are all from a BTC perspective.
Proof is that I measure how much I earn or lose in BTC. I never tell myself "I made a trade and earned 10 SC" or "I lost 3 dollars" but only think in BTC, and I bet I'm not the only one xD

[Denker]

isn´t it ironic that bitcoin experiences heat from altcoins ("loosing" it´s "dominance") because of people trying to get more... bitcoins?

HAHAHA thanks yes good point there, I mean if I had to choose only one coin to have everything in then of course it would be Bitcoin. I just see altcoins mostly as a pump and dump scheme although im sure there are a few with valid real world application which is owrth having a long term stake in, but for me personally my priority is to get to 0.5btc, then 1,  then 5 etc

Totally true.
People trading altcoins mostly see this as a way to earn BTC
At least that's how I see it. My trades in altcoins are all from a BTC perspective.
Proof is that I measure how much I earn or lose in BTC. I never tell myself "I made a trade and earned 10 SC" or "I lost 3 dollars" but only think in BTC, and I bet I'm not the only one xD

No you're definitely not the only one. Most traders use altcoins to increase their BTC stash! That's what altcoins are mostly good for.
And of course some speculate to get rich quick with these tier3, tier4 coins due to extreme volatility and 20x price breakouts.
I don't know any serious trader or investor who is longterm interested (meaning holding) in altcoins! There may be a few. But I'm sure these guys are an exception and not the standard.

[Elwar]

https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/



Those of you who know MasterLuc, he has been accurate in the past. Here is his prediction. If this is true then no need to panic.


I don't believe a lot of predictions but for some reason I am drawn to his posts and opinions.

Seems legit.

[luckygenough56]

so bearish

[starmman]

This is the final shakeout before the parabolic rise post segwit implementation.

Everyone needs to watch this recent podcast

https://www.youtube.com/watch?v=Dcw-1JZPbvA&t=1

We are most definitely going to be seeing 5 figures soon.

I hope not - I'm really enjoying the volatility at this level

Alts need to drop a lot first before BTC gets pumped much higher

[BlindMayorBitcorn]

Ugh so i got a new account, lost my old one years ago.
Been out of the bitcoin world for a few years as I had to sell my stash about 1.5 years ago as I needed the money, knew I would regret it but thats life.
Anyway Im back now and have a small stash of about £300 in various altcoins. My aim is to get back a nice BTC stash.

Just wondering if there is any point in trying to daytrade (not that I ever have, need to learn) with this small amount or am I better to wait until I have thousands in FIAT/coins?

Any feedback would be much welcome

You will end up eating a steady diet of government cheese and LIVING IN A VAN DOWN BY THE RIVER!

[JayJuanGee]

isn´t it ironic that bitcoin experiences heat from altcoins ("loosing" it´s "dominance") because of people trying to get more... bitcoins?

HAHAHA thanks yes good point there, I mean if I had to choose only one coin to have everything in then of course it would be Bitcoin. I just see altcoins mostly as a pump and dump scheme although im sure there are a few with valid real world application which is owrth having a long term stake in, but for me personally my priority is to get to 0.5btc, then 1,  then 5 etc

Totally true.
People trading altcoins mostly see this as a way to earn BTC
At least that's how I see it. My trades in altcoins are all from a BTC perspective.
Proof is that I measure how much I earn or lose in BTC. I never tell myself "I made a trade and earned 10 SC" or "I lost 3 dollars" but only think in BTC, and I bet I'm not the only one xD

Me too.

I project my cash flows and accumulation in BTC and project ahead to maintain a certain quantity of BTC - and at the same time hoping that the minimum quantity of BTC that I maintain is getting built up with the passage of trades...

Of course if BTC prices shoot straight up to $10k, for example, I would have fewer BTC projected in my holdings as compared with if the price goes up and down and up and down before reaching $10k...

So, it seems that one thing that we can count on is having up and downs along the way to $10k and beyond..

[JanpriX]

This is the final shakeout before the parabolic rise post segwit implementation.

Everyone needs to watch this recent podcast

https://www.youtube.com/watch?v=Dcw-1JZPbvA&t=1

We are most definitely going to be seeing 5 figures soon.

I hope not - I'm really enjoying the volatility at this level

Alts need to drop a lot first before BTC gets pumped much higher

And Alts are indeed dropping insanely fast right now.

[JayJuanGee]

Were going lower
There is No bad news nothing But still its going down
The uptrend ended i think?
Azië is awake already But its not going Well for the crypto

This is the final shakeout before the parabolic rise post segwit implementation.

Everyone needs to watch this recent podcast

https://www.youtube.com/watch?v=Dcw-1JZPbvA&t=1

We are most definitely going to be seeing 5 figures soon.

So whats exactly happening at the moment? In the last week or two BTC and ETH its done nothing but drop and drop where and when will this end? (Fairly new to BTC and don't really understand economics to a decent level.) 1st August seems to me (As a newb) as the coming D-day where it'll sink or swim. Is there a round up of things happening anywhere? assuming there is more than segwit(1st August) and Australia(1st July) happening?

I read that segwit means it'll either split the chain which would be bad or it won't (good). If it doesn't split then it means they'll be more BTC to play around with right? if thats true then why wouldn't the price drop if they're more to go around? (Sorry if this doesn't make much sence just trying to get my head around it all)

hopefully you are investing in the long term and don't get caught up in the short term swings, except maybe to buy more on dips, and if you sell, mostly sell small amounts on the way up, rather than engaging in panic sells.... so buy on the way down  and sell on the way up.. and dont get worked up about it.

Yes, hopefully before August 1, we will have a partial resolution with the likely implementation of seg wit... later down the road, maybe September or October, we may be resuming division discussion regarding the hardfork 2mg upgrade quastion.

[Dotto]

https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/



Those of you who know MasterLuc, he has been accurate in the past. Here is his prediction. If this is true then no need to panic.


I don't believe a lot of predictions but for some reason I am drawn to his posts and opinions.

This graph has the beauty of the classical masterpieces. If masterluc were an architech this would be an gothic cathedral. I share his vision too.

[rjclarke2000]

https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/



Those of you who know MasterLuc, he has been accurate in the past. Here is his prediction. If this is true then no need to panic.


I don't believe a lot of predictions but for some reason I am drawn to his posts and opinions.

This graph has the beauty of the classical masterpieces. If masterluc were an architech this would be an gothic cathedral. I share his vision too.

I feel it's a little high in a short timeframe but then again...who the hell am I? I'll just enjoy it and keep on with my life.

[r0ach]

Where we go from there, is a choice I leave to you.

[afbitcoins]

Well if MasterLuc says it thats different !

(Even though many others been saying it too for ages. )
 

[r0ach]

https://www.tradingview.com/chart/BTCUSD/YRZvdurN-The-target-of-current-bubble-lays-between-40k-and-110k/

Nice "the price will exponentially increase forever for no reason and everyone will pay $10,000 transaction fees" chart.  If every millionaire on earth hedged 1% of their money in bitcoin the price would be $7800 each with a fully liquid market (so more like $70,000/ea in distorted normal market metrics with non-liquid market cap).  This situation is not actually possible with anything less than probably 50+ TPS though (compared to 3 TPS now).  

I don't think creating a decentralized lightning network is even possible because you'd need to put all channel closings in a centralized que, or risk black swans blowing up the system (or permanent attack vector), so lightning network doesn't really satisfy this scaling requirement.  Payment channels are useful, but mostly for bank-like entities doing constant transfers back and forth, just not for smaller end user people (where the TPS increase is actually needed).  Payment channels would take some burden off the chain, but it's not a real substitute for the on-chain scaling.

So no, I don't see bitcoin going to the moon at 3 TPS or 3 TPS + payment channels.  The transaction fees have skyrocketed between $2-10 already, which puts up a big roadblock to further price appreciation, and I don't really see a valid scaling solution to fix it.  Also taking into account PoW is designed to centralize into a monopoly in the first place (and proof of stake is useless), so bitcoin really needs massive overhauls on almost every level before it can even be claimed to be decentralized or scale to be useful to the world at large.