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

[bones261]

If China bans the Chinese miners and they have to shut down and move, that would be short term bearish but soooo hella bullish in the long term.

Think about it. They would have to move equipment from provinces where they are essentially getting free electricity, to places that would actually charge them money per kwh. It would level the playing field with other miners scattered all over the world. They would then have to hold more and charge more for their mined bitcoin.

I could be wrong, but I do not see China banning Bitcoin mining. There is no "capital flight" when miners are exporting Bitcoins for Euros and Dollars. Any Yuan they might spend for operations, is kept inside the Chinese economy. I'm sure the PBOC will welcome the importing of Dollars and Euros.
China could do a take over of the mining operations to make sure it's running in such a way to be in line with China's economic goals, however...

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[Paashaas]

~1.3% hashrate for BCash Alt-coin 

[bones261]

~1.3% hashrate for BCash Alt-coin  

They have two emergency difficulty adjustments coming up, soon. It appears that the magical mystery miner(s) are back online after cooling off a bit to make the EDAs happen. Now the magical mystery miner(s) can resume mining the vast majority of the blocks, without being bothered by the vulture miners, since the profitability with be just lower than parity for BTC.

Edit:It appears they may have allowed the difficulty to go too low. Expect a big increase in hash rate within the next couple of blocks... It's going to be kind of close though. May be just below parity if you consider transaction fees for BTC.

[Mrpumperitis]

hodl or buy, we going up 

[profitgenerator212]

Either way, I see BTC going south.[/b]

Either way, I hope you are putting your money where your mouth is - because you seem to be hedging too much in the down direction (or hoping - and spouting out certainty FUD in order to attempt to get your down wish to come true), and it could be a painful lesson.

My point is that nothing is certain in bitcoin whether that is down or up, and I am hedged in both direction, even though I currently conclude that our odds for 15% up are a bit greater than our odds for 15% down (maybe 55% for up and 45% for down?).. I am not going to bet too heavily either way (even though of course, I have money invested in bitcoin, so of course, i am better off if the price goes up.. which seems that there continues to be ongoing upwards price pressures)

Looks like I am becoming right. I think it's only going to go down south from here.

I know where I think we are

That chart is bullshit, in my 10+ years of trading experience and I have never seen a market behave like that. 

[Elwar]

That chart is bullshit, in my 10+ years of trading experience and I have never seen a market behave like that. 

Bitcoin has done that exact thing several times already.

It's like a broken record with this thing. The only thing that matters is that the "mean" is upward moving over time. Something the dollar and fiat currencies do not do.

[steelboy]

All it takes is for a few countries to be liberal in their approach to cryptocurrency which we are seeing more than one instance of right now... then frankly there is no stopping the blockchains from thriving and eventually countries which do try to regulate it out of existence will eventually give up and pull a 180 due to the shortsightedness of their folly. IMO

There no doubt will be more to cryptocurrency than just Bitcoin,but BTC has a significant first to market network advantage and therefore in a world where a handful of countries, say Holland, Germany, Estonia, Finland, Denmark, Sweden, Australia, Canada, Japan, South Korea, (Russia  ) maybe even the UK and the USA do not ban BTC,cryptos  (or any other public/private key encryption for public use)  then it does have a good chance to continue doing what  it has done, and continue growing the ecosystem. Then there is going to be a proper set of enclaves,where the ecosystem can continue to grow, more miners can set up - and everyone  can operate in an environment of regulatory understanding...I mean its not even  a fantasy, it is literally happening in front of our eyes. Good luck to any other country that has banned BTC,  as their citizens will run rings around them, unless they intend on cutting off their entire countries internet access to the outside world that is, otherwise people will easily still be able to connect to the network,connect to a node -the network- blockchain(s) will be literally surrounding, on land, under the sea, in space,
good luck stopping that.

Therefore the blockchains will continue, and BTC for now has built a strong enough base, and is a good enough first to market protocol with 1st market network advantage (sound familiar?) It has a fair chance, and as it is still being developed and built upon and layered - I think it is doing just fine.

Anyway in countries where the public have a strong opinion about privacy - this is not just going to get swept under the carpet- sorry but it is not.

Other countries- say China for example that try to outright ring fence their citizens from it will fail.

The Chinese people that want to will find a way.. besides I still think China is playing a longer  unseen  game here- crypto is not dead in china I expect some sort of CNYT coin to control fiat on and off ramps to attempt to stem capital outflows along with stricter exchanges  and ICO laws - some of the exchanges have been naughty boys indeed! I still fully expect there to be a regulated market there in the future.


I do not thus far see any good reason for BTC to not continue to thrive and take advantage of its network advantage-nor do I imagine it will be the only cryptocurrency or blockchain being used for many various reasons..there will be others that do  well too.  

The market is screaming for exactly what BTC and other distributed decentralised incentive based blockchains can offer... look at all of these security breaches that occur in traditional centre out data security systems in use- they leak like sieves. I am sure many blockchains will thrive in this "Brave New World".

There is IMO yet another wave coming over the next year to eighteen months... from the network effect, from further investment into the ecosystem, as well as maturing projects involving BTC (and others) hitting market with products and services and infrastructure and marketing budgets. Countries that I listed above are encouraging innovation and in the other parts of the world Africa,India,South America, SE Asia etc are all starting to gain more traction...more users are coming...we all know the market and infrastructure is growing and starting to form....  so it is business as usual

And...as usual... expect price volatility.

Yes brother

[steelboy]

~1.3% hashrate for BCash Alt-coin 

Who was posting the little comparison updates between the 2 chains?

Had difficulty and price and which one was more profitable. Haven't seen one for a while.

[Searing]

If China bans the Chinese miners and they have to shut down and move, that would be short term bearish but soooo hella bullish in the long term.

Think about it. They would have to move equipment from provinces where they are essentially getting free electricity, to places that would actually charge them money per kwh. It would level the playing field with other miners scattered all over the world. They would then have to hold more and charge more for their mined bitcoin.

In my view china would not ban miners...they would simply make them mine to china fiat daily etc so they can keep track of who is mining etc via such a banking arrangement
they likely would set the price of coin to their advantage as a gov't exchange

thus like NO vpn and you have to use your real name on social media in china because all based on your IP....its how I'd do it ...evil..quick and simple and still all that western $$$

coming in for miner mnfg etc

[realr0ach]

John McAfee in Bitcoin is kind of the same problem the alt-right has, a leaderless organization/movement to expel Jewish usury parasites off the backs of humanity.  Since there is no formal structure, a gay, Jewish guy named "Milo" just walks up and says "who's the leader around here?  nobody? ok, looks like I am.".

What an effed-up fact salad.

Some people can't handle #realnews.

If something like SX2 coin succeeds, it will just tell the banks and government around the world that such attack vectors works, and conceivably, before long, we would have something like this,

Or you can just avoid all the fucking idiot, control freak technocrats in govt + the bitcoin ecosystem and use physical silver instead, which is completely immune to moron technocrats.  Both fiat and bitcoin are designed to be run by central planners so that you get to be someone's bitch the rest of your life.

[Spaceman_Spiff_Original]

SNB looking to take a small hedging position?

Any reason for mentioning this?  A source or deduction?

[realr0ach]

We will go down slowly to $1500.

This bear market will last for five months.

It will go down low enough to entice MatTheCat to come back (like $900).  Mat will then all-in.  It will then instantly go to $0.  Everyone reading this knows this is exactly what will happen.

[SERVERIA]

We will go down slowly to $1500.

This bear market will last for five months.

It will go down low enough to entice MatTheCat to come back (like $900).  Mat will then all-in.  It will then instantly go to $0.  Everyone reading this knows this is exactly what will happen.

Hahaha the funniest post in this thread for sure  This is never going to happen, except for maybe in your dreams.

[realr0ach]

We will go down slowly to $1500.

This bear market will last for five months.

It will go down low enough to entice MatTheCat to come back (like $900).  Mat will then all-in.  It will then instantly go to $0.  Everyone reading this knows this is exactly what will happen.

Hahaha the funniest post in this thread for sure   This is never going to happen, except for maybe in your dreams.

It sounds like you need an inspirational song or something:

http://www.youtube.com/watch?v=MfTlJrZMg6Y

[drbrockcoin]

FORGET all those useless wall street bubble charts... when the collapse happens of the dollar and banks then this is the only chart that matters for crypto-kids

[JayJuanGee]

How does it work? China buys high and sell low? Who are the ones who bought at 4500? Surely they need to keep buying now, don't they!?

If you only bought BTC at $4500, and you did not buy any other BTC at any other price point, then surely it would be a good idea to buy a bit more right now, and to bring down your average cost per BTC.  If you are engaging in incrementalism buying and you have a view of bitcoin for the future, then you are going to work out some incrementalism buying strategy, and it is not going to matter whole hell-of-a lot whether your average cost per BTC is currently $4500 or $3700 or some price point in between because you should just be slowly building up your holdings and trying to be a reasonable and prudent as you can be in order to continue to HODL and to accumulate.. and maybe even sell a little bit, If you have some coins that have an average cost that is lower than your selling point.


So yeah, attempting to paint some pure case about someone who stagnantly bought at $4500 seems to be a strawman assertion about a kind of buyer that is not engaged in a prudent and incrementalist buying/accumulation strategy.

[Denker]

If China bans the Chinese miners and they have to shut down and move, that would be short term bearish but soooo hella bullish in the long term.

Think about it. They would have to move equipment from provinces where they are essentially getting free electricity, to places that would actually charge them money per kwh. It would level the playing field with other miners scattered all over the world. They would then have to hold more and charge more for their mined bitcoin.

Charlie tweeted a few hours ago that according to his trusted source, there won't be a mining ban or a cut off from the network.
It seems mostly to be FUD and manipulation by some whales!

https://twitter.com/SatoshiLite/status/911067464796053506

[JayJuanGee]

Either way, I see BTC going south.[/b]

Either way, I hope you are putting your money where your mouth is - because you seem to be hedging too much in the down direction (or hoping - and spouting out certainty FUD in order to attempt to get your down wish to come true), and it could be a painful lesson.

My point is that nothing is certain in bitcoin whether that is down or up, and I am hedged in both direction, even though I currently conclude that our odds for 15% up are a bit greater than our odds for 15% down (maybe 55% for up and 45% for down?).. I am not going to bet too heavily either way (even though of course, I have money invested in bitcoin, so of course, i am better off if the price goes up.. which seems that there continues to be ongoing upwards price pressures)

Looks like I am becoming right. I think it's only going to go down south from here.

I know where I think we are

That chart is bullshit, in my 10+ years of trading experience and I have never seen a market behave like that. 

Looks like you are talking a bunch of bullshit.  If your goal is to be right, then you just make up a bunch of shit, and then try to suggest that you are speaking some kind of truth.

Get a fucking grip..  We are in a bitcoin bull market.  You understand that?  we have been in such bull market since about late 2015 - of course we did NOT realize that we were in a bull market until about May 0f 2016 - however, frequently it takes several months to work out the market direction and to determine whether there is a change in market direction.. and even if you happen to be correct that the market direction is turning downwards, we are not likely to know that for several months, and we certainly are not going to know that merely because we had a 40% price correction from $4980 to $2972 - even when that market correction was immediately preceded by a price increase of nearly 90% from $2600 to $4980. 

So get real if you are trying to assert that prices are going down, when the overall direction has been up, and we are not even below the price in which we started in the most recent bump (which is $2600)... So if we go below $2600, then possibly we could consider thinking about down - however, I would suggest that the price had better go a hell-of-a lot lower than $2600 if you are going have some actual market movement to back up your currntly fictitious  downward assertions.

In other words, this is called a consolidation or a correction zone and not some kind of sign that bitcoin is on some kind of  downwardly trajectory for any meaningful period.

[Searing]

If China bans the Chinese miners and they have to shut down and move, that would be short term bearish but soooo hella bullish in the long term.

Think about it. They would have to move equipment from provinces where they are essentially getting free electricity, to places that would actually charge them money per kwh. It would level the playing field with other miners scattered all over the world. They would then have to hold more and charge more for their mined bitcoin.

Charlie tweeted a few hours ago that according to his trusted source, there won't be a mining ban or a cut off from the network.
It seems mostly to be FUD and manipulation by some whales!

https://twitter.com/SatoshiLite/status/911067464796053506

China has to have some option to slow growth for 2018, when BTC hits 10k a coin....can't shoot all their powder dry now

[Elwar]

I'll give you guys here a sneak peek into the future of seasteading because the people here understand the implications of it.

Excellent video with some behind the curtain looks into what will be revealed in the next couple of months.
https://www.youtube.com/watch?v=UVAicGsF4DA