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

[YamashitaRen]

Prepare for "something" ...

most likely a spam attack combined with some pow hashrate switch to bch: http://fork.lol/pow/hashrate

so ... it grow.

http://imagizer.imageshack.us/a/img924/2403/u2YodG.png

Yes... it grows.

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[BlindMayorBitcorn]

I suffered through the dessert march of 2015.

Ah yes. Round here we called it 'the plum pudding plod'. Never forget.

It was a sticky tragedy.
http://www.historytoday.com/chuck-lyons/sticky-tragedy-boston-molasses-disaster

[yefi]

I suffered through the dessert march of 2015.

Ah yes. Round here we called it 'the plum pudding plod'. Never forget.

lol, I have sweet memories of that time.

[buyandhold]

I suffered through the dessert march of 2015.

Ah yes. Round here we called it 'the plum pudding plod'. Never forget.

lol, I have sweet memories of that time.

Aren't you sugar-coating it a bit?

[hv_]

What will be the name of the SW2x coin?

B2X. You can name it whatever you like. Doesn't matter! There will be hundreds of Bitcoin forks in future and all they'll give you free money drops. Take them and convert into bitcoins!

Sure, in theory.

But how would you settle if hashpower is left around 5-10% at best case?
How would you estimate the correct fee for that long time frames?

Any idea what exchanges and their risk managers might tend to do with a legacy coin and no proper settlement (time, fee, support,...) and no replay protection?

[empowering]

Virtual Currencies Expected to be Regulated in China on October 1s

https://news.bitcoin.com/virtual-currencies-expected-to-regulated-in-china-on-october-1st/

 


Can  you see it yet?

[Icygreen]

Just saw this from Andreas https://www.youtube.com/watch?v=FyK4P7ZdOK8

He describes how money serves as a system of control as a primary function.

I'll admit he makes a great case for BTC but by the end of it I couldn't help fearing that he sounded a bit cultish although correct.
Makes me want an anon atm machine across the street from me.  

[jojo69]

Just saw this from Andreas https://www.youtube.com/watch?v=FyK4P7ZdOK8

a broadside below the waterline

let 'em have it Andreas!

[jbreher]

I hear you. But the landscape is changing. With all these forks there's an insidious kind of inflation happening. Bitcoincash, Bitcoingold...and now the big guns with Segwit2x. Doesn't that skew the math a bit in your mind?

It is not exactly inflation. If you adopt the view that each bitcoin you hold represents 1/21,000,000 of the total economic value, then your purchasing power is unaffected by these splits -- neither positively nor negatively.

As to your earlier question, I am primarily in hodl. When I get a hankerin' for stinky fiat...
1) set aside a small amount of Bitcoin for trading
2) make a series of laddered sell orders with your trading funds
3) as your orders get bought into, place buy orders of the dollar value of the sell, but at a lower bitcoin price
4) as your buys execute, enter sells at a higher bitcoin price
5) rinse and repeat. With volatility, the net effect is that your quantity of Bitcoin will grow
6) the net direction is up. You will over time accumulate a backlog of open buy orders that are unlikely to ever be bought into
7) as your open buy orders cross the threshold of implausibility, cancel them. Now they are cash.
8 ) you may or may not be bitcoin positive at this point. Either way, you are cash positive
9) when your pile of stinky fiat gets big enough that you don't know how to spend it, withdraw any remaining open sell orders.
10) Sit back and let bitcoin get pricier until the cash itch returns.

[jbreher]

ban bitcoin trading

https://www.bloomberg.com/news/articles/2017-09-29/cryptocurrencies-drop-as-south-korea-bans-icos-margin-trading

Again. Stop smoking MSM pole. South Korea has not banned bitcoin trading.

[savetherainforest]

ban bitcoin trading

https://www.bloomberg.com/news/articles/2017-09-29/cryptocurrencies-drop-as-south-korea-bans-icos-margin-trading

Again. Stop smoking MSM pole. South Korea has not banned bitcoin trading.

They seem to not read all the title.  "icos-magin-trading" ..   .. Meaning that even trading of ico's tokens is still allowed, just not leveraged, unfair, crazy margin trading. They should learn to read.

[d_eddie]

1) set aside a small amount of Bitcoin for trading
2) make a series of laddered sell orders with your trading funds
3) as your orders get bought into, place buy orders of the dollar value of the sell, but at a lower bitcoin price
4) as your buys execute, enter sells at a higher bitcoin price
5) rinse and repeat. With volatility, the net effect is that your quantity of Bitcoin will grow
6) the net direction is up. You will over time accumulate a backlog of open buy orders that are unlikely to ever be bought into
7) as your open buy orders cross the threshold of implausibility, cancel them. Now they are cash.
8 ) you may or may not be bitcoin positive at this point. Either way, you are cash positive
9) when your pile of stinky fiat gets big enough that you don't know how to spend it, withdraw any remaining open sell orders.
10) Sit back and let bitcoin get pricier until the cash itch returns.

Now this is a nice revolving system. For the earliest adopters, there is the nice "got fiat even" milestone when you withdrew as much fiat as you put in. The milestone can be hit several times, depending on the timing of buys and sells.

[Samarkand]

...

this hodl philosophy will really hurt bitcoin one day. this could end in some kind of deflation spiral...

What if I told you that Bitcoin´s best use case was savings all the time?
Bitcoin is deflationary by design, which is even more extreme due to coins
that are lost forever (lost private keys, people that die with a stash of BTC
without anyone knowing about it...).

This increases scarcity, which is extremely valuable and necessary for BTC
to act as a store of value - something that most so called fiat currencies
are not!

[JayJuanGee]

Is this rise purely down to hodling btc before OCT 1st due to the bitcoin gold fork?

We don't know the exact date of the bitcoin gold fork, yet, do we?

I thought that it was going to be in mid-to-late October?  Did I miss something? 

I know it is quite difficult to keep up with the mucho bullshit that continues and whether we should be keeping track of one thing or another in order to profit from our HODLing (maybe there are various conspiracies to disrupt the HODLers by creating these mucho distractions?)

[Samarkand]

Is this rise purely down to hodling btc before OCT 1st due to the bitcoin gold fork?

We don't know the exact date of the bitcoin gold fork, yet, do we?

I thought that it was going to be in mid-to-late October?  Did I miss something? 

I know it is quite difficult to keep up with the mucho bullshit that continues and whether we should be keeping track of one thing or another in order to profit from our HODLing (maybe there are various conspiracies to disrupt the HODLers by creating these mucho distractions?)

You´re welcome! 

https://twitter.com/btcgpu/status/912122750952652800

Hodl BTC on 10.25 get free BTG on 11.1

25th October seems to be the snapshot date.

However, I have my doubts that this hard fork will provide much value. I don´t see it
trading for an exchange rate that is comparable to Bitcoin Cash.

What are your guesses for the Bitcoin / Bitcoin Gold exchange rate? I´d be surprised
to see something higher than 5 mBTC = 1 BTG (Bitcoin Gold).

[Torque]

Just saw this from Andreas https://www.youtube.com/watch?v=FyK4P7ZdOK8

He describes how money serves as a system of control as a primary function.

I'll admit he makes a great case for BTC but by the end of it I couldn't help fearing that he sounded a bit cultish although correct.
Makes me want an anon atm machine across the street from me.  

Andreas only sounds that way at times because he's trying so hard to unplug people from the Matrix. But they don't want to unplug, don't want to take the red pill.

If you haven't seen it yet, check out this oldie but goodie from Stefan Molyneux on 'Bitcoin vs. Political Power'.
https://www.youtube.com/watch?v=joITmEr4SjY

[Meuh6879]

http://www.zerohedge.com/news/2017-09-30/meanwhile-bitcoin-soars-40-post-dimon-china-lows

"How do you regulate an algorithm?" he asked, drawing laughs from the audience. "I don't know yet. The answer is we have to continue to study this."

Still, that doesn't mean there aren't possible next steps. For example, those studies might include looking more closely at how another algorithm, perhaps one created by the Federal Reserve, might ensure fairness in mathematical form, something Harker said is crucial to any potential cryptocurrency controls.

  regulate an algorithm ... oh yeah, we have winners here.
even journalist laught about this question.

[Meuh6879]

OK, it falls ...

[Torque]

http://www.zerohedge.com/news/2017-09-30/meanwhile-bitcoin-soars-40-post-dimon-china-lows

"How do you regulate an algorithm?" he asked, drawing laughs from the audience. "I don't know yet. The answer is we have to continue to study this."

Still, that doesn't mean there aren't possible next steps. For example, those studies might include looking more closely at how another algorithm, perhaps one created by the Federal Reserve, might ensure fairness in mathematical form, something Harker said is crucial to any potential cryptocurrency controls.

  regulate an algorithm ... oh yeah, we have winners here.
even journalist laught about this question.

The Fed is chock full of 'tards. They keep telling the public that they "don't really understand inflation" and can't hit their inflation targets. Meanwhile everyone's health care premiums, food, energy, bills, cars, entertainment, hair cuts, oil changes, etc. have nearly doubled in the last 9 years while their wages have gone nowhere. The public is getting poorer by the minute and they don't even realize it.

And the Fed wants to keep gaslighting the world and say there is no inflation? Pffft! We're not that stupid.

I no longer think we'll see a market crash any time soon. I think that every hard asset is going to continue to melt up.

[Icygreen]

Just saw this from Andreas https://www.youtube.com/watch?v=FyK4P7ZdOK8

He describes how money serves as a system of control as a primary function.

I'll admit he makes a great case for BTC but by the end of it I couldn't help fearing that he sounded a bit cultish although correct.
Makes me want an anon atm machine across the street from me.  

Andreas only sounds that way at times because he's trying so hard to unplug people from the Matrix. But they don't want to unplug, don't want to take the red pill.

If you haven't seen it yet, check out this oldie but goodie from Stefan Molyneux on 'Bitcoin vs. Political Power'.
https://www.youtube.com/watch?v=joITmEr4SjY

Fantastic! Just saw it and I'm sure I'll be sharing this.  Thanks mate!