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

[JayJuanGee]

Bitcoin doesn't dip anymore  

Think of a tsunami that ironically sucks the water all the way out first.

TERA every post you make reeks of some kind of bitterness? How many bitcoin's have you got? I’m going to guess less than 10 & you’re upset/angry/depressed about having the opportunity to be rich AF as you were in & around bitcoin early enough but sadly made the wrong decisions, sold early etc.

HODLERS who make shit loads of money don’t need to sell/trade constantly.

What’s your situation?

I'm so sick of this ignorant crap people post on trader forums. The things I say have nothing to do with my position or with emotion. It is simply the inevitable dynamic of an exponential market. Its a piece of physics like a rubber band or a ball bouncing. This is compeltely detached from me.

Theres GOING to be a crash of at least 60% at some point. I never called from where but it's going to happen, and it's going to be a spectacular trading opportunity. You can thank for me letting you in on it, if it only means you have more fiat on exchanges ready to buy it. If you deny this then you have no experience in bitcoin.

You have actively come into this thread since about $7k and saying the same fucking thing, and now the price is about 3x higher, and you still saying the same nonsense.....

Yeah, sure, sooner or later you are going to be correct... but your repetition of the same cyclical bitcoin price gonna crash nonsense, does not mean that you have any actual insight.

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[Raja_MBZ]

How much time left in launch of bitcoin at CME? Any idea guys?

http://coincountdown.live/

Hey, that's adding 1 whole day, and saying "1 day & 8 hours"... Is it true? Cause as far as I'm aware of, it'll launch after 8 hours, not 1 day and 8 hours.

Some are saying it'll be launched on CME on "Monday" while some are saying "Sunday"... this is very confusing.

[ragnar0k]

Bitcoin doesn't dip anymore  

Think of a tsunami that ironically sucks the water all the way out first.

TERA every post you make reeks of some kind of bitterness? How many bitcoin's have you got? I’m going to guess less than 10 & you’re upset/angry/depressed about having the opportunity to be rich AF as you were in & around bitcoin early enough but sadly made the wrong decisions, sold early etc.

HODLERS who make shit loads of money don’t need to sell/trade constantly.

What’s your situation?

I'm so sick of this ignorant crap people post on trader forums. The things I say have nothing to do with my position or with emotion. It is simply the inevitable dynamic of an exponential market. Its a piece of physics like a rubber band or a ball bouncing. This is compeltely detached from me.

Theres GOING to be a crash of at least 60% at some point. I never called from where but it's going to happen, and it's going to be a spectacular trading opportunity. You can thank for me letting you in on it, if it only means you have more fiat on exchanges ready to buy it. If you deny this then you have no experience in bitcoin.

You have actively come into this thread since about $7k and saying the same fucking thing, and now the price is about 3x higher, and you still saying the same nonsense.....

Yeah, sure, sooner or later you are going to be correct... but your repetition of the same cyclical bitcoin price gonna crash nonsense, does not mean that you have any actual insight.

And because I want to add some vinegar to the open wound, I'd like to remember that a 60% crash means roughly 10k (which is what most of us expect I guess), VS the 'at least 3k' predicted initially

[jbreher]

LN allows the same number of actors to engage in roughly unlimited numbers of transactions with each other. What it does not allow is more actors engaging in transactions.

Thats not correct.
I do 5 TX's on chain today, and blocks are full.
With lightning, I do 1 on chain, and do the other 4 off chain
This allows 4 other additional users to the do the same, therefore more actors.

::le sigh:: Yes. To a second-order approximation, you are correct.

I presume you are aware that your 5 tx / day makes you something of an outlier, right?

[milkshock100]

could we be headed to 18.5k?

[Torque]

Meanwhile in the skies above our humble, fragile planet...

https://mobile.nytimes.com/2017/12/16/us/politics/pentagon-program-ufo-harry-reid.html?referer=

[podyx]

[Ludwig Von]

And while the Pentagon looks at the sky for UFO 's, you can also read this on ZH, I quote a piece of the introduction :

"There is just one thing that cryptocurrency bulls love hearing more than Dennis Gartman bashing bitcoin, and that is Whitney Tilson bashing bitcoin. The reason is the same: just like Gartman, Tilson has rarely if ever been right about anything -in fact, it is almost safe to say that he has been largely wrong about everything - with the added bonuses that unlike Gartman, Tilson has blown up not one but two "hedge funds" (which really were copycats of other hedge funds)."

Enjoy... .

[Torque]

And while the Pentagon looks at the sky for UFO 's, you can also read this on ZH, I quote a pice of the introduction :

"There is just one thing that cryptocurrency bulls love hearing more than Dennis Gartman bashing bitcoin, and that is Whitney Tilson bashing bitcoin. The reason is the same: just like Gartman, Tilson has rarely if ever been right about anything -in fact, it is almost safe to say that he has been largely wrong about everything - with the added bonuses that unlike Gartman, Tilson has blown up not one but two "hedge funds" (which really were copycats of other hedge funds)."

Enjoy... .

If Tilson was really a genius fund manager and could call a top on Bitcoin, then he wouldn't have to preface his prediction with "But for all I know it could go to $1M first" like all the other geniuses out there. That's just moving the goal posts waaayy out so he doesn't have to look wrong.

That's about as useful a statement as me saying "The U.S. stock market is in a bubble and is going to crash again one day, but for all I know the S&P 500 could hit 10k first!" There, I just said it. I guess that now makes me as smart as a billion dollar hedge fund manager then?

[Ludwig Von]

And while the Pentagon looks at the sky for UFO 's, you can also read this on ZH, I quote a pice of the introduction :

"There is just one thing that cryptocurrency bulls love hearing more than Dennis Gartman bashing bitcoin, and that is Whitney Tilson bashing bitcoin. The reason is the same: just like Gartman, Tilson has rarely if ever been right about anything -in fact, it is almost safe to say that he has been largely wrong about everything - with the added bonuses that unlike Gartman, Tilson has blown up not one but two "hedge funds" (which really were copycats of other hedge funds)."

Enjoy... .

If Tilson was really a genius fund manager and could call a top on Bitcoin, then he wouldn't have to preface his prediction with "But for all I know it could go to $1M first" like all the other geniuses out there. That's just moving the goal posts waaayy out so he doesn't have to look wrong.

That's about as genius a statement as me saying "The U.S. stock market is in a bubble and is going to crash again one day, but for all I know the S&P 500 could hit 10k first!" There, I just said it. I guess I'm now as much of a genius as a billion dollar hedge fund manager then?

Well, those hedge funds did pop like a bubble... . And since we apparently live in the "Everything" bubble, especially debt, I think a lot is going to pop and it will smell very very bad. I struggle with the question if thqt would be good for BTC, money fleeing from stocks, bonds, real estate into BTC or money beeing taken out to pay off margin calls... .

[Arriemoller]

As more and more people start to move their savings to BTC, fewer and fewer will buy bonds and stocks. And in the end that will crash the bond and stock markets unless they start pricing them in BTC. And that is what will really spook the banks and governments. And that's when they will really try to ban crypto currencies.

[jojo69]

 (in before jbreher makes the bogus claim everyone will have their own foundry in their backyard within 2 years).

You know what? Fuck you and the pre-historic ancestor of the dromedary that you rode in on.

WTF that I have stated have you misinterpreted as a claim that the average person will be able to own their own semiconductor foundry.

Please.

Oh - you can't? I return you to the opening. Fuck You.

Ahhhh Jeri Ellsworth has been doing it for some time https://www.youtube.com/watch?v=PdcKwOo7dmM

 

[Arriemoller]

Oh yeah, and bitcoin down 600 USD on Stamp.

[bones261]

one that can scale right now to peak-time VISA levels, by design.

Y'all realizer yer fabled LN can't scale to Visa levels without a huge block size increase, right?

I can't prove to you that it can, but I believe that it is several orders of magnitude better than a mere block size increase.

LN allows the same number of actors to engage in roughly unlimited numbers of transactions with each other. What it does not allow is more actors engaging in transactions.

If you think the future is properly just us assholes already in engaging in scads of trades with each other (how many transactions do you do per day?), then LN is probably for you.

If instead, you think that the 99.99% of the world that have not yet bought in might possibly be interesting to Bitcoin, then LN has essentially zero to offer you.

I will actually have to agree with jbrener on this point. I only make about 1  transaction a week on average. It makes absolutely no sense for me to open up a LN channel. Furthermore, opening up a channel subjects me to a counterparty risk. The other party could transmit an earlier, more favorable tx to the blockchain and rip me off. Yes, if I catch the other party in time, I can invoke a penalty. However, this involves ensuring my Lightning Node is online 24/7 or enlisting a third party to monitor for me. Seems like a malicious hub could invoke DDOS attacks on vulnerable channels and known third party monitors effectively knocking them all offline and hightailing it with lots of BTC.

[TheJuice]

Oh yeah, and bitcoin down 600 USD on Stamp.

Yeah theres a decent amount of selling pressure right now. Need our friendly whales to wake up. I think they are having a lazy sunday.

[d_eddie]

I only make about 1  transaction a week on average. It makes absolutely no sense for me to open up a LN channel. Furthermore, opening up a channel subjects me to a counterparty risk. The other party could transmit an earlier, more favorable tx to the blockchain and rip me off. Yes, if I catch the other party in time, I can invoke a penalty. However, this involves ensuring my Lightning Node is online 24/7 or enlisting a third party to monitor for me. Seems like a malicious hub could invoke DDOS attacks on vulnerable channels and known third party monitors effectively knocking them all offline and hightailing it with lots of BTC.

We will probably be able to enlist third party patrols and pay then with a part of the penalty/reward - which amounts to the FULL CHANNEL value! This is a strong incentive for would-be patrols. All it takes is ONE such guy to spot a cheating transactions and the thief is done. It's not like an individual patrol must keep its rig online 24/7. I think there will be very little cheating. It's way too risky for the perpetrator.

[Ludwig Von]

I only make about 1  transaction a week on average. It makes absolutely no sense for me to open up a LN channel. Furthermore, opening up a channel subjects me to a counterparty risk. The other party could transmit an earlier, more favorable tx to the blockchain and rip me off. Yes, if I catch the other party in time, I can invoke a penalty. However, this involves ensuring my Lightning Node is online 24/7 or enlisting a third party to monitor for me. Seems like a malicious hub could invoke DDOS attacks on vulnerable channels and known third party monitors effectively knocking them all offline and hightailing it with lots of BTC.

We will probably be able to enlist third party patrols and pay then with a part of the penalty/reward - which amounts to the FULL CHANNEL value! This is a strong incentive for would-be patrols. All it takes is ONE such guy to spot a cheating transactions and the thief is done. It's not like an individual patrol must keep its rig online 24/7. I think there will be very little cheating. It's way too risky for the perpetrator.

Why would a system that allows cheating be needed?

[realr0ach]

http://sentienttrader.com/hurst-trading-room/blog/bitcoin-hurst-cycles-15-december-2017/
 

Good god, that was the most long-winded thing I've ever seen to describe the fact that only idiots buy into a parabolic, vertical cliff rise.  Or to summarize his 10 pages of typing in one sentence:

"meaning that the peak that price is moving into is probably also a peak of the 42-month cycle"

[d_eddie]

Why would a system that allows cheating be needed?

Sorry, I don't understand the question.

Unless you meant LN is a system that allow cheating. Well, with LN you can give a try at cheating, but only if you have a stake (a channel open) and you are ready to risk the whole stake should your cheat fail.

[thisisntbic]

Why would a system that allows cheating be needed?

Why kind of systems exist that prevent "cheating"? From sports, to computers, to financial transactions, all systems are vulnerable to being used in a way that is not intended...