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

[lightfoot]

This, all of this just makes me go think about that nonsense post on reddit from a few years ago:

https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

the 1st reply was priceless..

Looks to be right on target and explains what happend to Friedcat as well. Cool!

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[HairyMaclairy]

Really? REALLY???

US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

https://btcmanager.com/us-senate-bill-s-1241-criminalize-concealed-ownership-bitcoin/

I don't know what to make of it, but it doesn't seem irrelevant.
Anyone share their thoughts?

regulate digital currency.

It’s just verification of ID for exchange accounts.  Something you have to do for most exchanges anyway.  It’s a problem for shapeshift and smart contracts, less so for bitcoin.

[JimboToronto]

I do think a large retracement is on the cards in the not-so-distant future. Bitcoin has exhibited a fractally repeating pattern, do we bet against another iteration?

Indeed that fractally repeating pattern is happening as we speak. It's all a matter of where we are in the pattern.

This is why I like to see regular corrections as we go. As long as it's a steady line on the log chart we're OK. It's when it veers upward too quickly as it did in June 2011 or late March/early April or  late November 2013 that it becomes a bubble and is destined to crash.

If we can keep the rise steady like in winter/early spring of 2011, or winter or mid-autumn of 2013, we could see some longer-lasting gains.

So far since early springtime, 2017 has been nice and steady, correcting whenever it's gotten close to running away:



Eventually it will almost surely move up to quickly and crash. Last year I thought that it would make it to $6k-$8k and crash to maybe $2k. We've already passed that and we're still going relatively smoothly.

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

Just my 2 satoshis.

[Syke]

If we can keep the rise steady like in winter/early spring of 2011, or winter or mid-autumn of 2013, we could see some longer-lasting gains.

Those previous rallies felt much steeper than this one. Gives me hope!

[jojo69]

...

Eventually it will almost surely move up to quickly and crash. Last year I thought that it would make it to $6k-$8k and crash to maybe $2k. We've already passed that and we're still going relatively smoothly.

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

Just my 2 satoshis.

[savetherainforest]

This, all of this just makes me go think about that nonsense post on reddit from a few years ago:

https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

the 1st reply was priceless..

Looks to be right on target and explains what happend to Friedcat as well. Cool!

He probably read that post 4+ years ago and did lots of meditating about his future.

[Rosewater Foundation]

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

This sounds horrible.

[gembitz]

I do think a large retracement is on the cards in the not-so-distant future. Bitcoin has exhibited a fractally repeating pattern, do we bet against another iteration?

Indeed that fractally repeating pattern is happening as we speak. It's all a matter of where we are in the pattern.

This is why I like to see regular corrections as we go. As long as it's a steady line on the log chart we're OK. It's when it veers upward too quickly as it did in June 2011 or late March/early April or  late November 2013 that it becomes a bubble and is destined to crash.

If we can keep the rise steady like in winter/early spring of 2011, or winter or mid-autumn of 2013, we could see some longer-lasting gains.

So far since early springtime, 2017 has been nice and steady, correcting whenever it's gotten close to running away:



Eventually it will almost surely move up to quickly and crash. Last year I thought that it would make it to $6k-$8k and crash to maybe $2k. We've already passed that and we're still going relatively smoothly.

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

Just my 2 satoshis.

max keiser says the cost to make a bitcoin is $1OOO :-D wut

[TheJuice]

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

This sounds horrible.

I'll take a rise to 50k. I've got predefined sell points, so I'd take some off the table at those levels.

[Rosewater Foundation]

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

This sounds horrible.

I'll take a rise to 50k. I've got predefined sell points, so I'd take some off the table at those levels.

I've been meaning to set predefined sell points. Haven't got around to it yet.

[gembitz]

 

BTCBTCHODL<3

[Bitcoinaire]

Yeah, no doubt you had a good rebuy opportunity, even right now. But calling 3k after it was weird

I seem to recall TERA being much derided during the 2013 bubbliness for making v bearish calls. History shows vindication with knobs on.

Everyone was screaming that another bubble was around the corner, but not TERA, she called it correctly!

[savetherainforest]

Damn, this is so f"-ing bullish. 

Any idea from where all this money comes from??
Because from all these trades on the exchanges, there seems to be a shortage. 

[Rosewater Foundation]

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

This sounds horrible.

I'll take a rise to 50k. I've got predefined sell points, so I'd take some off the table at those levels.

I've been meaning to set predefined sell points. Haven't got around to it yet.

Note to self: You will take 25% off the table after two more doublings. There, like a professional.

[d_eddie]

You can sell naked calls without the underlying asset with enough collateral / capital.

Naked calls on bitcoin?  Define “enough collateral”.  

20% of the nominal value?
The way I understand the rules, there's a daily +/- 20% hard limit before trading stops, and the positions are regulated daily.

[lightfoot]

Meantime that thousand dollar crash is so a few hours ago......

[HairyMaclairy]

You can sell naked calls without the underlying asset with enough collateral / capital.

Naked calls on bitcoin?  Define “enough collateral”.  

20% of the nominal value?
The way I understand the rules, there's a daily +/- 20% hard limit before trading stops, and the positions are regulated daily.

As I understand it, the 20% limit only applies to the daily market. Not sure what happens in the overnight market. 

[Heater]

Meantime that thousand dollar crash is so a few hours ago......

Bitcoin is now toats boring if it's not vertical (either up or down)

[FeArZ]

Another day, another ATH. What a boring year. 

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[HairyMaclairy]

Venezuela to launch a state sanctioned cryptocurrency to evade US sanctions.  Not sure what this means for Bitcoin but this would definitely be the first state run crypto.   My sense is that this is a further step towards validation.

http://www.bbc.com/news/world-latin-america-42217798