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

[BlindMayorBitcorn]

By the end of August we shall have new ATH.

If you've been buying since June that's a totally understandable position. I think maybe you bought this account to talk horse shit. But what do I know.

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[bitserve]

By the end of August we shall have new ATH.

If you've been buying since June that's a totally understandable position. I think maybe you bought this account to talk horse shit. But what do I know.

You sold?

[Micman--PLO]

And what to do best with A big stack of btc???

Make it even bigger!

i did buy 10 more yesterday But i only buy with not knowing anything of what can happen only gambling on An advice of a friend hoping for the best cause in the meantime till my neck and shoulders in btc

[bones261]

Ok for the holders, but we are not in a proof of stack. They may not give a shit but I don't think the miners give a shit of the big holders ?
I mean no miners no decentralized blockchain ?

You think a holder (soon to be x-holder) who is planning on making their exit cares about the state of the blockchain after they have the required confirmations to move their BTC to dump? I think not.

[User705]

I know there is a lot of old bitcoiners here. One thing make me think that we are near the bottom here. Even at very low electricity rate we are now at $4,85 per day reward for mining with 1 S9.

I am sorry but it would make no sense to mine losing money. That would mean Bitcoin is dead.

So can somebody who think BTC is going to $1250 or below explain to me how that would work thinking that at that price every miner is loosing money.

I mean we all love bitcoin but there is a limit I suppose.

Most BTC holders these days are not miners. The don't give a shit whether they ROI or not. Yes, there are some big interests in mining, that may try to prop things up. But I doubt that it's going to be enough. Especially when many of these big mining interest are getting subsidized electricity from China...

Ok for the holders, but we are not in a proof of stack. They may not give a shit but I don't think the miners give a shit of the big holders ?
I mean no miners no decentralized blockchain ?

Things take time.  Markets at tops and bottoms always overrun the fundamentals.  That's the very definition of top and bottom.  You also assume there isn't a next gen miner already deployed and mining for bitmain.

[r0ach]

By the end of August we shall have new ATH.

If you've been buying since June that's a totally understandable position. I think maybe you bought this account to talk horse shit. But what do I know.

You sold?

If everyone dumps at the same time, we can all rebuy at $200 and start over again?  Quick, someone call up the Winklevoss.

[BlindMayorBitcorn]

By the end of August we shall have new ATH.

If you've been buying since June that's a totally understandable position. I think maybe you bought this account to talk horse shit. But what do I know.

You sold?

No. But I have mental problems. We've been over this...

[Mr Frog]

I know there is a lot of old bitcoiners here. One thing make me think that we are near the bottom here. Even at very low electricity rate we are now at $4,85 per day reward for mining with 1 S9.

I am sorry but it would make no sense to mine losing money. That would mean Bitcoin is dead.

So can somebody who think BTC is going to $1250 or below explain to me how that would work thinking that at that price every miner is loosing money.

I mean we all love bitcoin but there is a limit I suppose.

Most BTC holders these days are not miners. The don't give a shit whether they ROI or not. Yes, there are some big interests in mining, that may try to prop things up. But I doubt that it's going to be enough. Especially when many of these big mining interest are getting subsidized electricity from China...

Ok for the holders, but we are not in a proof of stack. They may not give a shit but I don't think the miners give a shit of the big holders ?
I mean no miners no decentralized blockchain ?

Things take time.  Markets at tops and bottoms always overrun the fundamentals.  That's the very definition of top and bottom.  You also assume there isn't a next gen miner already deployed and mining for bitmain.

No I did not though about next gen. because I assume there is not. True. But thinking of it. It become then much more centralized and this is not the BTC I signed for sorry.

[Micman--PLO]

Can somebody give me A Very Good option about whats gonna happen and why with A Good and easy explanation
And what to do best with A big stack of btc???

Let me know thnx

If you own coins in a wallet to which you own the private keys then after any chain split you will own coins on both chains, you can keep both or sell both, either way buying now ( and taking coins off exchange) gives you options, buying after a fork, you have to pick which chain and hope you pick the right one, or buy on both chains.

I keep all of my btc on a ledger wallet and only +-20 on kraken it Good like this or to put nothing on kraken ?

[AlexGR]

By the end of August we shall have new ATH.

If you've been buying since June that's a totally understandable position. I think maybe you bought this account to talk horse shit. But what do I know.

You sold?

If everyone dumps at the same time, we can all rebuy at $200 and start over again?  Quick, someone call up the Winklevoss.

A couple hundred million dollars have moved into usd tether. Currently ranked #10 in coinmarketcap. These are not funds that are out of the system, these are funds waiting to rebuy at lower prices... at 200$ these 300 million usd tether would buy 1.5mn btc

[Micman--PLO]

Can somebody give me A Very Good option about whats gonna happen and why with A Good and easy explanation

Yea, bitcoin is currently the worst of both worlds.  People claim it's purpose is decentralization, yet if they actually cared about that, they would fork it to a new PoW to be GPU mineable.  If we're going to continue the scheme under ASIC centralization, you may as well scale while being centralized and unleash blocksize to the moon.  So as I said, we now have the worst of all worlds with all the negatives of each philosophy and no benefit of either one.

There is ZERO reason for bitcoin to exist with non-commodified ASIC mining, so my vote is give everyone the middle finger and fork PoW to GPU mining so we can pretend bitcoin has some type of reason to exist.  If anyone who has some type of credibility like being a former BTC dev attempts a PoW fork, the GPU fork will win simply because the GPU side will have far more actors, many of which are willing to mine at a loss for extended duration, while all the ASIC warehouses will shut down immediately like KNC did.

But? So what to do in youre opinion? And i can not make much of youre quote i Just buy and hold (on advice of A friend) whiteout not knowing anything of the technical side on btc.... so "pow GPU" never heard of this things in my Life ..., But i Wanna learn everything of it...

[Meuh6879]

Dark Gold line ... is Bitcoin : http://www.coindesk.com/cryptocurrency-market-nears-50-decline-time-highs/

[yefi]

Can somebody give me A Very Good option about whats gonna happen and why with A Good and easy explanation

You are going to be eaten alive. This is because you are soft and squishy.

[Mr Frog]

Ok for the holders, but we are not in a proof of stack. They may not give a shit but I don't think the miners give a shit of the big holders ?
I mean no miners no decentralized blockchain ?

You think a holder (soon to be x-holder) who is planning on making their exit cares about the state of the blockchain after they have the required confirmations to move their BTC to dump? I think not.

They can dump their BTC for sure. The point here is not to know who's got the bigger.  
We are in it because we love it and we believe in it. If we get to this point of selling and stop mining then we closed the business, good night.
The doors are closed.

What I was thinking is where is the balance in price, there must be a price limit under it is not sustainable to carry on with the chain ? Again If everybody dump then it is finish.

I may be wrong but it make no sense to me to see btc going back under $1000 unless he goes back up just after. But I don't know how it worked in previous crash and if it was still ok for the miners to mine at that time.

[oblox]

Can somebody give me A Very Good option about whats gonna happen and why with A Good and easy explanation

You are going to be eaten alive. This is because you are soft and squishy.

Love it.

[BlindMayorBitcorn]

Dark Gold line ... is Bitcoin : http://www.coindesk.com/cryptocurrency-market-nears-50-decline-time-highs/

Our store of value is closed for the summer.

(Pool's closed, too.)

[bones261]

If you own coins in a wallet to which you own the private keys then after any chain split you will own coins on both chains, you can keep both or sell both, either way buying now ( and taking coins off exchange) gives you options, buying after a fork, you have to pick which chain and hope you pick the right one, or buy on both chains.

I keep all of my btc on a ledger wallet and only +-20 on kraken it Good like this or to put nothing on kraken ?

I would make sure that you move most of your coins to your ledger wallet by July 30th. Maybe earlier. Who knows if someone is going to deliberately try to clog up the mempool again. Transactions should be brisk on the 31st anyway..

[bitserve]

By the end of August we shall have new ATH.

If you've been buying since June that's a totally understandable position. I think maybe you bought this account to talk horse shit. But what do I know.

You sold?

If everyone dumps at the same time, we can all rebuy at $200 and start over again?  Quick, someone call up the Winklevoss.

If everyone dumps to $200 and then everyone rebuy...... it will not be for $200. SImple math. If everyone who sold is thinking on rebuying we end up where we were before.

[Micman--PLO]

If you own coins in a wallet to which you own the private keys then after any chain split you will own coins on both chains, you can keep both or sell both, either way buying now ( and taking coins off exchange) gives you options, buying after a fork, you have to pick which chain and hope you pick the right one, or buy on both chains.

I keep all of my btc on a ledger wallet and only +-20 on kraken it Good like this or to put nothing on kraken ?

I would make sure that you move most of your coins to your ledger wallet by July 30th. Maybe earlier. Who knows if someone is going to deliberately try to clog up the mempool again. Transactions should be brisk on the 31st anyway..

Then i Will take the advice
Thnx

[bones261]

If everyone dumps at the same time, we can all rebuy at $200 and start over again?  Quick, someone call up the Winklevoss.

If everyone dumps to $200 and then everyone rebuy...... it will not be for $200. SImple math. If everyone who sold is thinking on rebuying we end up where we were before.

Not if we all add to a buy wall of exactly $200.00. It would be like a flash mob. We'll call it flash crash 200.00 Unfortunately, I'm sure there will be some whale that will set their stop loss at $300 and ruin our plans.