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

[Rosewater Foundation]

for those of you that don't care to go slumming, here's the hogwash r/btc is slopping around in



virtually intsant

muh scalable

free txns for everyone!!!1

[gentlemand]

for those of you that don't care to go slumming, here's the hogwash r/btc is slopping around in

I don't recognise any of those characteristics.

I guess bitcoincash is a new coin that's better than Bitcoin Cash? I'll look forward to using it.

[Rosewater Foundation]

Do they imagine once the rewards run dry these goons will mine txns for free?

[itod]

More info from miners front drama: Bitmain starting to sell miners after a long time, coincidence with competition announcement? But with a twist:

https://shop.bitmain.com/productDetail.htm?pid=000201711201611548977G3AjqYh0686
1. Only BCH(Bitcoin Cash) payment method is accepted in this batch, please use the exact amount mentioned in your order and complete the payment within one hour. After one hour, the order will expire and your payment may not be detected by the system automatically. Payment must be in BCH. We cannot accept payment in BTC. If you send BTC to the BCH wallet the coins may be lost. If the payment is submitted but the receipt is delayed, we will make your payment "Valid" manually.

[bones261]

More info from miners front drama: Bitmain starting to sell miners after a long time, coincidence with competition announcement? But with a twist:

https://shop.bitmain.com/productDetail.htm?pid=000201711201611548977G3AjqYh0686
1. Only BCH(Bitcoin Cash) payment method is accepted in this batch, please use the exact amount mentioned in your order and complete the payment within one hour. After one hour, the order will expire and your payment may not be detected by the system automatically. Payment must be in BCH. We cannot accept payment in BTC. If you send BTC to the BCH wallet the coins may be lost. If the payment is submitted but the receipt is delayed, we will make your payment "Valid" manually.

Bitmain has been doing this for a couple of months now with all the new batches.

[BTCMILLIONAIRE]

More info from miners front drama: Bitmain starting to sell miners after a long time, coincidence with competition announcement? But with a twist:

https://shop.bitmain.com/productDetail.htm?pid=000201711201611548977G3AjqYh0686
1. Only BCH(Bitcoin Cash) payment method is accepted in this batch, please use the exact amount mentioned in your order and complete the payment within one hour. After one hour, the order will expire and your payment may not be detected by the system automatically. Payment must be in BCH. We cannot accept payment in BTC. If you send BTC to the BCH wallet the coins may be lost. If the payment is submitted but the receipt is delayed, we will make your payment "Valid" manually.

They need to make it seem as if BCash was an actual thing after all.

[itod]

More info from miners front drama: Bitmain starting to sell miners after a long time, coincidence with competition announcement? But with a twist:

https://shop.bitmain.com/productDetail.htm?pid=000201711201611548977G3AjqYh0686
1. Only BCH(Bitcoin Cash) payment method is accepted in this batch, please use the exact amount mentioned in your order and complete the payment within one hour. After one hour, the order will expire and your payment may not be detected by the system automatically. Payment must be in BCH. We cannot accept payment in BTC. If you send BTC to the BCH wallet the coins may be lost. If the payment is submitted but the receipt is delayed, we will make your payment "Valid" manually.

Bitmain has been doing this for a couple of months now with all the new batches.

Didn't know that. If you have to sell BTC for BCH to buy miner, it looks to me he had the market cornered.

[afbitcoins]

Do they imagine once the rewards run dry these goons will mine txns for free?

There is an interesting idea that whales will become miners and mine their own fees back. In which case whales/miners get free transactions. Unlike those users who aren't miners

[jojo69]

Ok what are predictions for this weekend’s FUD bomb?   

I think it's time for another quantum computing breakthrough.

chuckle

[HairyMaclairy]

Monero going up a bit too fast for my liking.  19% in 24 hours.  Rocketed past Iota in the last 12 hours now 7th on Coinmarket cap.  It’s good but it doesn’t even have a hardware wallet yet.

[itod]

Monero going up a bit too fast for my liking.  19% in 24 hours.  Rocketed past Iota in the last 12 hours now 7th on Coinmarket cap.  It’s good but it doesn’t even have a hardware wallet yet.

Like hardware wallet is important to traders, they don't give a damn.

[BTCMILLIONAIRE]

Do they imagine once the rewards run dry these goons will mine txns for free?

There is an interesting idea that whales will become miners and mine their own fees back. In which case whales/miners get free transactions. Unlike those users who aren't miners

Free transactions look different though. They'll still pay for electricity, hardware and maintenance.

[HairyMaclairy]

Do whales care about fees?  I would have thought they just do a few massive transfers rather than lots of little ones.

[BTCMILLIONAIRE]

Do whales care about fees?  I would have thought they just do a few massive transfers rather than lots of little ones.

Depends on the whale I guess? Some whales love throwing around their money, others are too stingy to splurge on good food.

[savetherainforest]

I predicted on here years ago that when you can buy Bitcoins with a normal brokerage, bitcoin would surge to $10K.  Now up at $8K we get news that BTC will be listed on CME? I dont know what to make of it now that we are already up here. Then the price moves just 10%? I guess insider knowledge of this is what was fueling the rally all along.

Unfortunately the culture of hoarding (hodling) means we are suffering a paucity of coins.  Suggest you revise your prediction upwards.  

personally i think this is the last strong bull phase for bitcoin.  certainly at the moment to buy at 8250 and hope for a 5% rise.  Remember the last bubble, same people saying the same things.  

There are lots of other cryptos that do the same thing better, with more features, faster.  Some have genuine worth and serve an actual purpose.  This bubble IMHO is about to pop.  and lots of new bag holders will be born waiting for months / years for bitcoin to return to where it is. last peak was Dec 2013, 4 years later here we are.  usually the time between bubbles / peaks  is roughly 4 times longer each time.  so we could be looking at 16 years.    In that time im sure bitcoin will not be number 1 any longer.  

Holy fuck... you are coming off as either extremely negative or a troll who is painting a kind of lesser likely and worse case scenario.

I will give it to you that we are experiencing a quite exorbitant BTC price rise, especially when we look at the past two years and the increasing steepness of the curve in recent months.... however, in the end, I don't think that we have quite reached the top, until perhaps if we have a blow-off event, and part of my thinking is attributed to the ongoing recent investments into bitcoin including financial instruments and also bitcoin's seeming dominance / resilience over the recent forkening attempts.

Also, sometimes we cannot really appreciate what has happened until we look at it in retrospect and hopefully attempt to account for the most relevant and material factors, including the quickness in which the price has risen and including the extent to which there has been meaningful price corrections in the upwards journey process.

Maybe we can agree to some history, including the fact that bitcoin experienced nearly a two year bear run in 2014 and 2015 - and confirmed to be out of the bear run in about May/June 2016....

Once bitcoin was out of the bear run (transitioned into a bull run), we can still use the approximate $250 price stability point of 2015 as our starting reference.  Accordingly, it took about a year to triple to $750-ish, and then it took about 9 more months to triple again to $2,500-ish.. .and then it took about 3 months to triple again to $7,500-ish....

Since we are currently in the $7,500-ish price territory it is not easy to determine if this is a stability point, but I suspect that we could achieve at least one more decent blow-off - upwards, and in part I attributed that upwards likelihood to news points that I already mentioned above (namely entrance of additional traditional financial instruments into bitcoin and bitcoin's resilience/dominance in the forkening threats).  Another significant factor remains bitcoin's recent experience of two significant price corrections, which cause additional upwards fuel.  The mid-September correction was clearly and unambiguously 40% from $4,980 to $2,970, and the second correction from a couple weeks ago was clearly and unambiguously 30% from $7,888 to $5555.55......

My point is that we have decent room for another blow-off upwards, and we could get another 3x upwards price from here, and depending upon how quickly it goes up and whether there are corrections along the way could justify the extent to which there will be a crash and the extent to which any such speculated crash will be sustained... so for example, if we shoot up an additional 3x from here without a correction, then yeah, we could thereafter experience a quite considerable and sustained correction.. but it is yet to be seen and determined how quickly we are going up (if so), and since the probabilities of UP seem greater than the probabilities DOWN, we have to witness these first before we speculate too hot and heavily about our desires for down (because it seems to premature to conclude that we are currently over-inflated based on factors that I already have described in this post).

- J J G ... can u make next time a recursive string assigned to a variable pointing out to or holding the value of the swear your inserted in the first line, and writing it next time at the end of the post so we can read something relevant from your gibberish text wall?? Even if we manage, some of us to just read 3-4 lines of text from your message... And ofc, make reference to that variable assigned to the swear first so we can know your political agenda statement at the end, but not blinding us with hate from your first line of statement, that is full of irrelevant political opinions you have about things or ppl. .. and btw... you still write too much.


Also... related to this whole situation. I think that they want us to sell. They feel that this is a good price for people to be convinced into selling and being left butt naked behind. And all those that hodl and get their coins out of the exchanges will have the most to win. Basically they are counting on the confidence of the dump. They have plenty of fiat, they will throw very much fiat at their screens with endless zeroes at their end, numbers that will try to buy all the sellouts. At least this they figured out. And people then will sell their souls for daily labor for pennies / micro satosh.

I advice on hodling, and taking out your coins out of the exchanges.

[HairyMaclairy]

Agreed but I think almost all weak hands shaken out at $5600.  Money badger don’t care no more.

[savetherainforest]

Agreed but I think almost all weak hands shaken out at $5600.  Money badger don’t care no more.

Do Not Sell. They will burn you at the stake.

They want you to feel confidence. They are like sharks smelling blood from miles away. It will go up to $20k - $30k very easy in the next month or two.

We just had a correction. There is no reason for the price to be going down. I advise withdrawing your coins from the exchanges into cold storage until the true bubble starts.

[bones261]

This mempool spam is starting to concern me. Growing close to 60mb of transactions between 0-5sat.

It's probably Wu and friends wanting to cash in on transaction fees while at the same time make Bitcoin look bad. The only problem with him driving up the Bitcoin fees is that many pools are less likely to have their profit switching algorithms switch to mining Bitcoin Cash instead. However, pools like Antpool will switch since Antpool doesn't distribute the fees to the miners. (In exchange the miners have no pool fee and may even get a promotional "bonus" of 3-5%)

[Icygreen]

As bitcoin's price has gone up significantly over the past year, its forced me to examine several aspects of my own psyche. Mostly greed and fear. I've been beaten down every time I got greedy and rewarded for holding and sticking to my beliefs.
Lately I've been considering the possibility that the larger unidentified market makers could actually be benevolent and hold greater visions for BTC despite the popular belief that bitcoin market manipulation is used for personal gain.

An entire civilization raised on the ideals of capitalization and control cannot conceive immediately a system which does not aim to "take" but rather give freely to the benefit of all.
It's true that it is not decided what bitcoin will become or if it will succeed but it's evident that this is our opportunity and no others are currently on the horizon.
I think the real success of BTC will be in its ability to change greed constructs.

Yes, I know, echo chamber.  Just had to write that thought out.

I'm liking this current ascending triangle. Should break within the day.
 
  

[DieJohnny]

I predicted on here years ago that when you can buy Bitcoins with a normal brokerage, bitcoin would surge to $10K.  Now up at $8K we get news that BTC will be listed on CME? I dont know what to make of it now that we are already up here...

... Suggest you revise your prediction upwards.  

....and lots of new bag holders will be born waiting for months / years for bitcoin to return to where it is. last peak was Dec 2013, 4 years later here we are.  usually the time between bubbles / peaks  is roughly 4 times longer each time.  so we could be looking at 16 years.    In that time im sure bitcoin will not be number 1 any longer.... 

we have decent room for another blow-off upwards, and we could get another 3x upwards price from here

I think that they want us to sell.
I advice on hodling....

Bitcoin has not had a constant three year march from $200 to $8200 simply because wall street just happens to be pumping bitcoin for the big dump.

Each of the six or so dips in the last three years has been nothing more than an attempt to take your coins from your weak hands. The march continues relentlessly because bitcoin is the immortal hedge against EVERYTHING.

As edgy as other coins are the masses cannot comprehend the differences and will ALWAYS choose Bitcoin over all others, always.

Does anyone believe that Bitcoin is going to correct 75% without having its typical end-of-rally blow off exponential top. This has not happened in three years. Just look at the log chart. Bitcoin is still waiting for a 4 week blow off spike that is 3-6X above where we are now.

In a Jupiter or Neptune scenario there will be a traditional market correction and a bitcoin spike maybe 20-100X from where we are, and bitcoin will over night become the global store of value you have only imagined in your craziest of dreams. There is currently global access like there has never been before. Big money will always move towards capital preservation, always. HODL. NEVER sell all of your bitcoin, ever.

I think the only legit hedges against bitcoin are the anon coins: XMR, ZCash, Dash, et cetera. I also like the more efficient bitcoins LTC, Doge, et cetera. Platform coins to me feel like MySpace and will be a footnote in history.