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

[Neo_Coin]

https://cointelegraph.com/news/bitcoin-adds-03-to-japans-gdp-claim-nomura-analysts

[mymenace]

Yes the total coin market cap is in a much bigger bubble than bitcoin itself. It has increased 5,000% from the ATH in 2013 whereas the price of bitcoin has only increased 1200%.

Is a vacuum considered a bubble? Or is it just empty space being filled...

great analogy, cool

and i like this one

is it a bubble or devaluation of the fiat

[bones261]

I am not amused. Just a few hours ago, they were starting to clear 50+ sats/byte. Now it's getting clogged again.  
https://dedi.jochen-hoenicke.de/queue/more/#24h

[mymenace]

I got a letter from the taxman the other day saying I owe the state the equivalent of 10 cents, that's slightly less then the postage .

Send 'em BTC 0.000007  

fee is more expensive lol

Send it thru BitPay.

Call it "charity."  

No fees.

ask to pay it off

seriously see what payment options, fees, charges, interest they provide


can be better than most banks and no credit history recorded

[explorer]

I got a letter from the taxman the other day saying I owe the state the equivalent of 10 cents, that's slightly less then the postage .

Send 'em BTC 0.000007  

fee is more expensive lol

Send it thru BitPay.

Call it "charity."  

No fees.

ask to pay it off

seriously see what payment options, fees, charges, interest they provide


can be better than most banks and no credit history recorded

10 equal annual payments, no interest, or no deal.  And ask for a reduction while you're at it.

[somac.]

All I can say is wow, 628 Billion Market cap.  Money seems to be pouring in the crypto space.

Yes but very little is going into bitcoin, I hate to say it but I wonder if this year bitcoin will lose it's number one place seems like bitcoin is being specifically avoided by the pumpers. So man other coins have a straight vertical line on their charts, some have gone up 100 times in a matter of about a week.

[TERA2]

Fiat devalues 5% per year, not 80% per year.

"bubble" refers to too many short term increases which will have to consolidate at a much lower level before moving back up. It's fueled by traders and margin. You know the drill.

[gentlemand]

Yes but very little is going into bitcoin, I hate to say it but I wonder if this year bitcoin will lose it's number one place seems like bitcoin is being specifically avoided by the pumpers. So man other coins have a straight vertical line on their charts, some have gone up 100 times in a matter of about a week.

There are some genuinely humongous alt bags that have been built up over the years especially the alt creators themselves. Could there be flippiness? You bet. Would it mean much? The best will prevail. The shite will wilt when put to the test.

And Bitcoin is not competition for Ethereum or Ripple. They're fundamentally different in how they're supposed to be used. But no one's using them for much.

[somac.]

Yes but very little is going into bitcoin, I hate to say it but I wonder if this year bitcoin will lose it's number one place seems like bitcoin is being specifically avoided by the pumpers. So man other coins have a straight vertical line on their charts, some have gone up 100 times in a matter of about a week.

There are some genuinely humongous alt bags that have been built up over the years especially the alt creators themselves. Could there be flippiness? You bet. Would it mean much? The best will prevail. The shite will wilt when put to the test.

And Bitcoin is not competition for Ethereum or Ripple. They're fundamentally different in how they're supposed to be used. But no one's using them for much.

problem at the moment is that the shite is going vertical, even though they arn't used for anything. I don't understand this at all. Where is the money coming from for these coins? No other coin gets any media attention, yet they are massively priced, honestly I just don't get it

[gentlemand]

problem at the moment is that the shite is going vertical, even though they arn't used for anything. I don't understand this at all. Where is the money coming from for these coins? No other coin gets any media attention, yet they are massively priced, honestly I just don't get it

I'm sure 80% or more of recent Bitcoin buyers don't understand the slightest thing about it. Once they start investigating alts they understand even less but see a lower price per unit. That's enough to give them a boner. And it appears to be Korea still that's leading the shameless pumping and they probably understand least of all.

All you need is greed, cluelessness and someone willing to feed that.

[the artful bodger]

problem at the moment is that the shite is going vertical, even though they arn't used for anything. I don't understand this at all. Where is the money coming from for these coins? No other coin gets any media attention, yet they are massively priced, honestly I just don't get it

I'm sure 80% or more of recent Bitcoin buyers don't understand the slightest thing about it. Once they start investigating alts they understand even less but see a lower price per unit. That's enough to give them a boner. And it appears to be Korea still that's leading the shameless pumping and they probably understand least of all.

All you need is greed, cluelessness and someone willing to feed that.

I recently read a post by someone whose cousin had invested in crypto, but didn't even know what a wallet was. He held everything on exchanges and was just gambling on price rises. I suspect most of the recent wave of new investors don't know what a wallet is, and nothing about the technology backing whatever crypto they invested in.

[JayJuanGee]

All I can say is wow, 628 Billion Market cap.  Money seems to be pouring in the crypto space.

Yes but very little is going into bitcoin, I hate to say it but I wonder if this year bitcoin will lose it's number one place seems like bitcoin is being specifically avoided by the pumpers. So man other coins have a straight vertical line on their charts, some have gone up 100 times in a matter of about a week.

Yeah... You better sell your bitcoin and put your value into one of those other coins.

Surely, bitcoin is dead.. and going to be surpassed in the very near future... in other words, the only way is down for bitcoin relative to various other alts.   

[JayJuanGee]

Fiat devalues 5% per year, not 80% per year.

"bubble" refers to too many short term increases which will have to consolidate at a much lower level before moving back up. It's fueled by traders and margin. You know the drill.

Your outline above seems to be assuming that bitcoin is a mature market, and as if bitcoin can only go up within a reasonable range of the "fiat devaluation" in order to be sustainable.

Have you ever heard of s-curve adoption?  Exponential curve?  Metacalfe dynamics?

[gentlemand]

I recently read a post by someone whose cousin had invested in crypto, but didn't even know what a wallet was. He held everything on exchanges and was just gambling on price rises. I suspect most of the recent wave of new investors don't know what a wallet is, and nothing about the technology backing whatever crypto they invested in.

My feeling is that the spiritual comparisons to the dotcom bubble will wind up being fucking eerie. The early shit will be flushed out by a horrifying bubble burst and the stuff that will turn out to be properly used will rise from the ashes and eventually bestride the Earth.

Ideally it would happen earlier, faster and cheaper than anything dotcom sized. The more drawn out and higher it is the more painful it'll be for everyone and everything. It's also likely that many of the coins that eventually are actually used have not been invented yet.

[somac.]

All I can say is wow, 628 Billion Market cap.  Money seems to be pouring in the crypto space.

Yes but very little is going into bitcoin, I hate to say it but I wonder if this year bitcoin will lose it's number one place seems like bitcoin is being specifically avoided by the pumpers. So man other coins have a straight vertical line on their charts, some have gone up 100 times in a matter of about a week.

Yeah... You better sell your bitcoin and put your value into one of those other coins.

Surely, bitcoin is dead.. and going to be surpassed in the very near future... in other words, the only way is down for bitcoin relative to various other alts.   

I never sell bitcoin. But, I have some useless fiat laying around.

[somac.]

I recently read a post by someone whose cousin had invested in crypto, but didn't even know what a wallet was. He held everything on exchanges and was just gambling on price rises. I suspect most of the recent wave of new investors don't know what a wallet is, and nothing about the technology backing whatever crypto they invested in.

My feeling is that the spiritual comparisons to the dotcom bubble will wind up being fucking eerie. The early shit will be flushed out by a horrifying bubble burst and the stuff that will turn out to be properly used will rise from the ashes and eventually bestride the Earth.

Ideally it would happen earlier, faster and cheaper than anything dotcom sized. The more drawn out and higher it is the more painful it'll be for everyone and everything. It's also likely that many of the coins that eventually are actually used have not been invented yet.

That will probably be true, but, living through it and not being invested in many alts makes me sad and gives me that good old fashioned FOMO feeling

[gentlemand]

That will probably be true, but, living through it and not being invested in many alts makes me sad and gives me that good old fashioned FOMO feeling

I don't think it matters what alt you're in as long as you're in one or two with some life to them. They all pump eventually. No one gives a shit at present what your particular coin is for as long as it's on enough exchanges.

Set yourself a sum to extract that leaves you some exposure and fulfils your desires, make sure you do extract it and the rest is pure fun and if it burns you watch it burn in comfort.

[Arriemoller]

and Bitcoin Core 0.16 may support Segwit Address Only : https://github.com/bitcoin/bips/blob/master/bip-0173.mediawiki

So it will be impossible to redeem paper wallets on core in the future? I thought we would have two systems working in parallel.

[Deeyoh]

What most forget is Bitcoin is programmable.  There's no reason it can't adopt any new great discovery with enough consensus of the people that use it.  That's one of the things that makes Bitcoin great.  A bar of gold isn't going to change into something more usable ever.

[RoomBot]

All I can say is wow, 628 Billion Market cap.  Money seems to be pouring in the crypto space.

Yes but very little is going into bitcoin, I hate to say it but I wonder if this year bitcoin will lose it's number one place seems like bitcoin is being specifically avoided by the pumpers. So man other coins have a straight vertical line on their charts, some have gone up 100 times in a matter of about a week.

No way.

People liquidating for holiday presents & bills.

Year-end tax hedging & / or payments.

BTC ALWAYS tanks in December.

I predict a Bitcoin Spring!