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

[AlcoHoDL]

https://www.cnbc.com/2017/12/12/what-i-learned-from-owning-bitcoin.html

Human intelligence has an upper limit, but human stupidity is truly infinite and boundless...

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[Ludwig Von]

Source : http://www.zerohedge.com/news/2017-12-12/its-official-bitcoin-surpasses-tulip-mania-now-biggest-bubble-world-history

for now we just wanted to experience a moment of true zen serenity, knowing that we now stand in proximity to an asset bubble the magnitude of which has never before been observed by humanity.

Thanks central banks!

Funny that they don't mention:

China stock bubble of 2015

3D Printing stock bubble of 2013 (just pull up chart of SSYS or DDD, zoom out to max.... holy shit)

Kroger stock bubble of 2015 (zoom out chart)

Tesla stock bubble that started in 2013

Netflix stock bubble that started in 2012

Gold and Silver bubbles of 2011

...or really any of the other hundreds of typical bull/bear runs seen pretty much yearly around the world.. I guess Bitcoin is just so unique.

Yep.. of course, if the start out with the presumption that bitcoin is a bubble, then they are going to categorize it with other bubbles....

Good luck with that; however, perhaps they will learn later, when we look in retrospect that a s-curve adoption phase does look like a bubble during its exponential growth period that may have just begun for bitcoin...

So, I sure hope that this is not a bubble, like all the so called "experts" are proclaiming.   I'm gonna have to laugh my bubble butt all the way to the bank...    oh wait, we are dee bank.    I will have to laugh my bubble butt all the way to myself.  

We now even have a daily 5 minutes "Bitcoin bashing" on our national radio. And they must go digging old economists from their graves to give their take on BTC... . Today there was confusion with a so called IT expert, about how it is possible that BTC consumes 13% of all electric power in Holland and 39% in Belgium... .If it weren 't so deplorable, I would laugh at it too.

[OWZ1337]

self.sides->orbit;

https://www.c[Suspicious link removed]m/2017/12/12/what-i-learned-from-owning-bitcoin.html

NEVER go full n00b weee™

[HanvanBitcoin]

Let's break down that 200 BTCTC wall at Kraken  

[philip2000uk]

I've had an ICO ad in Chinese and now just had one in Dutch  

[AlcoHoDL]

Kraken is downtown...

[yefi]

Source : http://www.zerohedge.com/news/2017-12-12/its-official-bitcoin-surpasses-tulip-mania-now-biggest-bubble-world-history

for now we just wanted to experience a moment of true zen serenity, knowing that we now stand in proximity to an asset bubble the magnitude of which has never before been observed by humanity.

Thanks central banks!

I must point out how moronic that chart is. If you're just going to base a bubble's size on what its price was three years hence, then Bitcoin handily surpassed all bubbles in history in 2013, with an extraordinary >500,000% return.

It would make more sense to compare inflation-adjusted market cap.

[JimboToronto]

Remember when they used to laugh at us?

Now we laugh at them. 

[HairyMaclairy]

$20k by Xmas. 


I can smell it. 

[jojo69]

smells like

victory

[Rosewater Foundation]

https://www.cnbc.com/2017/12/12/what-i-learned-from-owning-bitcoin.html

Human intelligence has an upper limit, but human stupidity is truly infinite and boundless...

There was so much to learn. He learned nothing.

[arklan]

*grumbling under his breath* stupid futures and their stupid... Whatever they do... Stupid price dropping... Dumb bitcoin, going thy wrong way...

(to be clear, i'm not serious in any manner. Just wondering whats driven stamp down below 16k. And annoyed that my list buy was at 16740 or something...)

But you are the one who sets your buy and your sell orders, right?

The top, so far, has been $17,270, so if you been into bitcoin for a while, it seems strange to set buy orders that are so high, no?

Just to use myself as an example regarding my orders on bitstamp for today, I had one sell order execute at $15,850-ish, and then I had another sell order execute at $16,850, and then I had a buy order execute at $16k - ish.  

So, I am a bit unclear how your buy would be so close to the top, unless you sold some near today's top... .. and if you did, then it is not a big deal if you bought some back so high... that is $500 below the top, which is about 3%.

Even though my current increments are between 4% and 6%, I used to trade in 1.5% increments, just for practice and just to set up buy and sell orders.   I know some high volume and high frequency traders set their bots for less than 1%, but gosh probably need a bot for that, especially with the intensity of these recent price movements.

Yea, i'd sold like 40 above the buy a few minutes earlier. It's all worked out nicely now.

I actually found an open source bot, gecko something? And have a handful of programmer friends... Gonna get it set up and simply running backtest style, for starters. Then we shall see if my instincts, played by the bot, work in my favor.

Or at might just build a neural network into it and after sufficient testing let the bot make its own decisions.

Would have done it already, but been busy with work and other chaos.

Bots are going to be dangerous because you have to be careful to program in a way that is not going to screw you up.

Also, every once in a while, I accidentally hit sell when I meant to buy or buy when I meant to sell.   Usually if I discover it within a few hours I can create orders that make up for the loss of the one order accident... but if you get multiple accidents, it could become detrimental to your holdings.

Hence the back testing to see how it handles the market without rising real btc. That and my trading is literally 45 usd.

[yefi]

Note: The above is a very, very bad way to think. Are there meditation techniques to fix this?

Yes, travel into your cave and find your power animal.

[HairyMaclairy]

Note: The above is a very, very bad way to think. Are there meditation techniques to fix this?

Yes, travel into your cave and find your power animal.

[Meuh6879]

Today there was confusion with a so called IT expert, about how it is possible that BTC consumes 13% of all electric power in Holland and 39% in Belgium... .

If it weren 't so deplorable, I would laugh at it too.

That's why i like the links on forum :

http://www.zerohedge.com/news/2017-12-11/no-bitcoin-wont-boil-oceans

A recent report suggests that at current prices, Bitcoin miners will consume an estimated 8.27 terawatt-hours per year.

That might sound like a lot, but it’s actually less than an eighth of what U.S. data centers use, 1 and only about 0.21 percent of total U.S. consumption.

[gentlemand]

Today there was confusion with a so called IT expert, about how it is possible that BTC consumes 13% of all electric power in Holland and 39% in Belgium... .

If it weren 't so deplorable, I would laugh at it too.

That why i like the "infos" on forum :

http://www.zerohedge.com/news/2017-12-11/no-bitcoin-wont-boil-oceans

A recent report suggests that at current prices, Bitcoin miners will consume an estimated 8.27 terawatt-hours per year.

That might sound like a lot, but it’s actually less than an eighth of what U.S. data centers use, 1 and only about 0.21 percent of total U.S. consumption.

If I was a stupid person like me I'd be dead impressed by those figures. That would mean it MUST be worth mortgaging grandma if it costs more than the solar system to run.

[jbreher]

No. I want to alert about the weaknesses of Bitcoin Segwit.

You object to the name BCash,

Frankly, this entire hoohah over naming just makes me chuckle inwardly. You can call Bitcoin Cash Bcash if you want. Doesn't really bother me. Though it makes you look ignorant, as 'Bcash' is a different coin altogether.

and yet you refer to Bitcoin as "Bitcoin Segwit"

I call Bitcoin Segwit Bitcoin Segwit, as it is a clearly descriptive, non-ambiguous term. I used to call it Bitcoin Segwit1x. However, with the demise of S2X, this disambiguation no longer adds any value.

[arklan]

The whole energy argument is stupid. It's in the best interests of miners to have the cheapest electricity possible, right? Well, once you pay the up front costs for solar and wind and such, that's basically it, for years. So it's a self solving problem, because miners will seek profit, and they means reducing recurring costs. I mean, with enough solar/wind, even GPU miners would be profitable with btc mining. Sure is only a few hundred Satoshi a day, but so what? It doesn't cost anything!

[Ludwig Von]

Today there was confusion with a so called IT expert, about how it is possible that BTC consumes 13% of all electric power in Holland and 39% in Belgium... .

If it weren 't so deplorable, I would laugh at it too.

That why i like the "infos" on forum :

http://www.zerohedge.com/news/2017-12-11/no-bitcoin-wont-boil-oceans

A recent report suggests that at current prices, Bitcoin miners will consume an estimated 8.27 terawatt-hours per year.

That might sound like a lot, but it’s actually less than an eighth of what U.S. data centers use, 1 and only about 0.21 percent of total U.S. consumption.

If I was a stupid person like me I'd be dead impressed by those figures. That would mean it MUST be worth mortgaging grandma if it costs more than the solar system to run.

Lol, what about mother in law?

[gentlemand]

Lol, what about mother in law?

No. I hate grandma.