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

[AZwarel]

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.

This is one of my favorites about bitcoin "bubbles" and selling/taking profit: https://www.youtube.com/watch?v=XbZ8zDpX2Mg

All the sad pandas over here: i buy since 2014, and never sold to this day - apart from spending on services/goods -, hodl. i did not care about the 2 years of bear market, i have accumulated more BTC, those were the golden years to stock up!

Hodl. I will not sell, ever. I will use bitcoin directly, to buy everything i plan to have, that way, i never have to sell. It will come.

[Paashaas]

It's 100% scam, the design is similar to S9/S7 he just replaced the sticker and made a fake stat

https://twitter.com/adam3us/status/933348194062360577

Au contraire?

+1 For making Bitcoin mining decentralized.

[BTCMILLIONAIRE]

It's 100% scam, the design is similar to S9/S7 he just replaced the sticker and made a fake stat

https://twitter.com/adam3us/status/933348194062360577

Au contraire?

+1 For making Bitcoin mining decentralized.

I've actually been toying with the idea of getting back into mining. I don't really care for it from an economical perspective, but this whole Bitmain/BCash clown fiesta has got me thinking.

[JayJuanGee]

[edited out]

- 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.

Your guidance is so informative and insightful, and I am likely to benefit mucho from your knowledgeable advices....





NOT   

 

[Heater]

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

And I need to spit this out.

When I acquired my bitcoins, I promised I would hold them for 10 years – I knew it would take a long time for such a radical idea to be understood and accepted.

This year we had an interesting transition from pushing the blockchain concept back to the core Bitcoin value proposition. A small increase in understanding translated to a big price jump. The ecosystem is in much better shape these days but there is still a long way to go before Bitcoin is normalised into our society. You will know the price is levelling off when:

• The BTC price is reported in the daily newspapers and on the evening TV news bulletin just like shares, commodities and exchange rates are today
• People stop saying “only invest what you can afford to lose”
• It’s recommended top have x% of crypto in your retirement saving account
• The faces of Bitcoin in the media are professional looking and neither nerds nor conspiracy theorists

This all hit home when I watched this video recently thanks to Jimmy Song:
https://www.youtube.com/watch?v=TerIjELO7IY

Here we have a mix of current day BTC personalities: Jimmy Song, Tone Vays, Bitfinex’ed, BTCVix and Flibber.
I will refrain from commenting on these guys individually suffice to say it won’t be like this in years to come. Instead it will be presented more like this:
http://www.abc.net.au/news/2017-11-17/bitcoin-hits-record-high/9163794

I will say I was astounded by the comments from BTCVix and Flibber about Bitfinex. I sense delusion going on - they risk ending up looking like these guys. If you have been warned ahead of time and you decide to leave your money there because of pure emotions and then think it's somehow smart to double down on the stupidity and fly to Japan and ask for your money back and let people take photos of you??? Don't do this. If Finex does go down at least take it like a man.

[Elwar]

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.

Bitcoin does not survive without greed. It is built in. The point made was that by getting bitcoins out early to people that could develop it into something better was so that those developers were incentivized to make Bitcoin into something great based on greed, the fact that they held a bunch of bitcoins and their value increased based upon how much effort they put into making it better.

Having a depreciating currency also taps into peoples' greed of having more value down the road by keeping more bitcoins which perpetuates the rising value by making it more scarce.

If you think it is greedy to cash out, it's a non-factor since you're transferring value for equal value which is not greedy.

Greed, for lack of a better word, is good.

[Dabs]

I've actually been toying with the idea of getting back into mining. I don't really care for it from an economical perspective, but this whole Bitmain/BCash clown fiesta has got me thinking.

About 1 BTC gets you 5 miners (the minimum order) and 5 PSUs ... and probably shipping.

According to mining calculators, you should get that back in 2 or 3 months. If difficulty goes up by the time they ship in March 2018, or even April 2018, suddenly your miners need 3 to 6 months before ROI. Maybe more.

[Icygreen]

Point taken Elwar,
In my case, I was selling in order to buy lower - to acquire more bitcoin for free. This is the type of greed that has gotten me in trouble in the past. Of course you can see the problem with greed in our society and the power imbalance it has created. I agree, greed is built in and I'm beginning to change my relationship to value with the aid of BTC.

[HairyMaclairy]

BCH getting pumped for the weekend.  $1400.  Maybe the PND will be Friday night just to mix it up a little bit.

[Ibian]

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.

r/K in so many words. r's are pleasure seekers, hedonists and narcissists, they live in the moment and are so risk averse that most of us here can't even conceptualize of it. They are not part of the earliest, and by necessity biggest, bitcoin whales.

K's defer immediate gratification for long term gain. Store the seed crop instead of eat it so your family can live another year. They are also hunters and warriors, explorers and innovators, and the type of people who risk it all to gain everything. These, are the oldest and biggest whales.

Cultures rise when K's are the majority and fall when the rabbits take over. Bitcoin started with K's and nothing but K's. Rabbits have started joining in now that things look reasonably safe, and their numbers will grow. As rabbits are wont to do. But it will be impossible for them to take control, at least for a few decades.

[HairyMaclairy]

If an r is a rabbit is a K a Kangaroo?

[Phil_S]

Damn, the volumes are out of control!

[HairyMaclairy]

Picking 1 minute intervals is cheating !

[lightfoot]

Isn't good enough for the performance figure, if something claims is 30% better then anything else that exists it has to be independently verified, but is good enough that it is not a scam. Guy has no reason to risk his reputation for something like that.

It is a bit tricky: I think I have a pretty ok reputation but I'd have to take the thing apart as well as run it to see if it's a ringer/beta/rigged unit before I could make an honest opinion. With pictures and all that.

We'll see what comes out of it, would be nice to see some competition vs. Ant-land.

[gembitz]

Isn't good enough for the performance figure, if something claims is 30% better then anything else that exists it has to be independently verified, but is good enough that it is not a scam. Guy has no reason to risk his reputation for something like that.

It is a bit tricky: I think I have a pretty ok reputation but I'd have to take the thing apart as well as run it to see if it's a ringer/beta/rigged unit before I could make an honest opinion. With pictures and all that.

We'll see what comes out of it, would be nice to see some competition vs. Ant-land.

its such bullshit tho' 5 unit minimum pre-order? :-D bwaahaha butterflydragon vapourware<<<

[Arriemoller]

BCH getting pumped for the weekend.  $1400.  Maybe the PND will be Friday night just to mix it up a little bit.

I get "Punk Nigga Deceased". From the Eazy E song Ole School Shit.
And Postnatal Depression. Witch one is it?

[Arriemoller]

If an r is a rabbit is a K a Kangaroo?

No, kangaroos are big rabbits, "R".

[elrippos friend]

This is today’s article from The Australian (a national newspaper and it is the most bullish thing I have read in the mainstream media.   You can skip most of it but read point 4.

Why Bitcoin Will Fail

As bitcoin — an alternative global currency — breaks another new record with a serious jump in value this week to cross $US8,300, one of the world’s biggest banks has spelled out why it won’t work.
 
Paris based BNP Paribas has gone beyond the usual arguments about crime, security and tax evasion to pinpoint why bitcoin can’t fulfil the promise at the heart of its success — to offer consumers an alternative means of exchange to banks and currencies as we know them.
 
The French Bank is reacting to the growing acceptance of bitcoin and other cryptocurrencies around the world. In Japan, bitcoin has been accepted as “a legitimate method of payment,” while in the US, the Chicago Mercantile Exchange is planning to trade bitcoin futures.
Here’s the main flaws from BNP Paribas:
 
1. It offers no lender of last resort — Every shaky European bank would certainly understand quickly the importance of this function in a currency. If there is a crisis, bitcoin has no well funded regulator to step in and cover losses. BNP says in that scenario consumers would rush to find real cash which could in turn create a run on banks, the biggest nightmare in the financial system.
 
2. Deflation — Though speculators love that there is only a finite number of bitcoins, this means you have the opposite of inflation as a looming problem. With just 16.7 million bitcoins in circulation, the risk of inflation is eliminated but deflation, already an issue in global trade, could cause a range of problems in the future.
3. Unreliable exchange of value — Bitcoin’s wildly fluctuating share price is perfect for traders but hell for consumers if they wish to use it in any significant fashion.
 
4. No profits for central banks — If bitcoin genuinely starts to replace cash as we know it central banks will lose a key source of income called seigniorage, which is the profit they get from printing money. No government will want to subsidise central banks which have lost a revenue source.
 
In short, BNP Paribas infers bitcoin could undermine the global monetary system as we know it. On that basis that bank suggests a global coordinated move to regulate bitcoin is on the cards. In Sydney, AMP chief economist Shane Oliver has also been looking at the issue. Usefully, Oliver says he does not
fully understand bitcoin (who really does?) and though he worries it is a bubble he also says there is every chance the value of bitcoin may keep going up for some time. Intriguingly, Oliver also floats the idea that bitcoin and its cryptocurrency variants may survive — or at least the blockchain technology behind them may survive. But Oliver believes the cryptocurrencies of the future will be official just like the legal tender of notes and coins of today.

Love the butthurt.

A bank run would not be a problem if banks actually had the money they pretend they have.

Deflation is a good thing for normal people, but bad for banks. The Establishment and The People will ever be at odds.

Fuck the banksters.

+1
The banksters have a big problem with bitcoin and they state their own flaws in this reading 

[gembitz]

This is today’s article from The Australian (a national newspaper and it is the most bullish thing I have read in the mainstream media.   You can skip most of it but read point 4.

Why Bitcoin Will Fail

As bitcoin — an alternative global currency — breaks another new record with a serious jump in value this week to cross $US8,300, one of the world’s biggest banks has spelled out why it won’t work.
 
Paris based BNP Paribas has gone beyond the usual arguments about crime, security and tax evasion to pinpoint why bitcoin can’t fulfil the promise at the heart of its success — to offer consumers an alternative means of exchange to banks and currencies as we know them.
 
The French Bank is reacting to the growing acceptance of bitcoin and other cryptocurrencies around the world. In Japan, bitcoin has been accepted as “a legitimate method of payment,” while in the US, the Chicago Mercantile Exchange is planning to trade bitcoin futures.
Here’s the main flaws from BNP Paribas:
 
1. It offers no lender of last resort — Every shaky European bank would certainly understand quickly the importance of this function in a currency. If there is a crisis, bitcoin has no well funded regulator to step in and cover losses. BNP says in that scenario consumers would rush to find real cash which could in turn create a run on banks, the biggest nightmare in the financial system.
 
2. Deflation — Though speculators love that there is only a finite number of bitcoins, this means you have the opposite of inflation as a looming problem. With just 16.7 million bitcoins in circulation, the risk of inflation is eliminated but deflation, already an issue in global trade, could cause a range of problems in the future.
3. Unreliable exchange of value — Bitcoin’s wildly fluctuating share price is perfect for traders but hell for consumers if they wish to use it in any significant fashion.
 
4. No profits for central banks — If bitcoin genuinely starts to replace cash as we know it central banks will lose a key source of income called seigniorage, which is the profit they get from printing money. No government will want to subsidise central banks which have lost a revenue source.
 
In short, BNP Paribas infers bitcoin could undermine the global monetary system as we know it. On that basis that bank suggests a global coordinated move to regulate bitcoin is on the cards. In Sydney, AMP chief economist Shane Oliver has also been looking at the issue. Usefully, Oliver says he does not
fully understand bitcoin (who really does?) and though he worries it is a bubble he also says there is every chance the value of bitcoin may keep going up for some time. Intriguingly, Oliver also floats the idea that bitcoin and its cryptocurrency variants may survive — or at least the blockchain technology behind them may survive. But Oliver believes the cryptocurrencies of the future will be official just like the legal tender of notes and coins of today.

Love the butthurt.

A bank run would not be a problem if banks actually had the money they pretend they have.

Deflation is a good thing for normal people, but bad for banks. The Establishment and The People will ever be at odds.

Fuck the banksters.

+1
The banksters have a big problem with bitcoin and they state their own flaws in this reading  

~not surprised whereas da French are such arrogant protectionists ~ these banksters are feeling really threatened by bitcoin!!    #occupyBTC

[Phil_S]

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....

Funny, but I've been making this graph, to show how last 5 doubling events since $250 look like two distinct exponents:

270 days
270 days
90 days
90 days
90 days



The question is, how much longer the second exponent will last...