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

[PoolMinor]

Not only has Vietnam taken measures to make Bitcoin transactions illegal but we can add the bank of Indonesia now.
https://www.newsbtc.com/2018/01/15/bank-indonesia-team-police-clampdown-bali-bitcoin-transactions/

First they laugh and deny, then they fight. Who's ready for the WIN!

Just buy the dips and sell the peaks and then profit.

FTFY

[Elix9]

I think the winners will be the ones that owed BTC, and the losers are the ones still owed  

Who knows how much BTC was involved, wow what a mess. Its occurrences like this that tarnish the crypto industry and give regulators ammo, to some degree anyways.

I agree, and think the BCC news will slow down the recovery unfortunately.

[Azazel333]

I think the winners will be the ones that owed BTC, and the losers are the ones still owed  

Who knows how much BTC was involved, wow what a mess. Its occurrences like this that tarnish the crypto industry and give regulators ammo, to some degree anyways.

I think everyone involved in bitconnect lended to the platform itself which guaranteed huge returns (which is what made it a Ponzi). They sold the story as having an amazing trading bot that generated huge profits which is why they could guarantee such large returns.....LOL

Whoever created Bitconnect clearly was going to run off as soon as outgoing money surpassed incoming money which it makes perfect sense that would be about now.

[RoomBot]

Sold it all at $9940. Bitcoin is a fraud and if anyone working for me buys any they are fired.

JAMIE DIMON I knew it was you!

[cofefeGandalf]

I think the winners will be the ones that owed BTC, and the losers are the ones still owed  

Who knows how much BTC was involved, wow what a mess. Its occurrences like this that tarnish the crypto industry and give regulators ammo, to some degree anyways.

I think everyone involved in bitconnect lended to the platform itself which guaranteed huge returns (which is what made it a Ponzi). They sold the story as having an amazing trading bot that generated huge profits which is why they could guarantee such large returns.....LOL

Whoever created Bitconnect clearly was going to run off as soon as outgoing money surpassed incoming money which it makes perfect sense that would be about now.

Jup, and as always the hordes of stupid didn't hesitate to lose their precious coins on it.

[RoomBot]

So who here is a bitconnect whale?
Please come out  

Buy at 1 satoshi. Pump.  Sell at 8 satoshis.  

what are the txs fees on that now???  

[Higher Altitude]

Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

I'm not even saying Bitcoin didn't have worse days because it has certainly been going through a lot and came out on top. This past year has been a gold rush for Bitcoin and if it did crash back down to really low prices I think it would destroy a lot of confidence in the market. People might discard it again.

And I agree on another post that Bitcoin should be USED. It's the closest thing to digital cash I have ever owned. But the transaction fees have been way too high lately. That's why I like Litecoin. 

[cofefeGandalf]

So who here is a bitconnect whale?
Please come out  

Buy at 1 satoshi. Pump.  Sell at 8 satoshis.  

what are the txs fees on that now???  

Doesn't matter when people store their coins on the exchanges. See my other post above lol.

[realr0ach]

http://dailystormer.red/russia-insider-goes-full-gas-the-kikes-head-editor-reveals-his-power-levels/

#thegoyimknow

[windjc]

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

Bitcoin is less volatile now. Unless the bull market has ended - which I do not think it has - most of these other crash comparisons are not really valid.

Right now this is a healthy correction - one many people called - that will lead to another bullish year in 2018 with BTC prices well above $50k. BCH might die however

[DaRude]

Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

I'm not even saying Bitcoin didn't have worse days because it has certainly been going through a lot and came out on top. This past year has been a gold rush for Bitcoin and if it did crash back down to really low prices I think it would destroy a lot of confidence in the market. People might discard it again.

And I agree on another post that Bitcoin should be USED. It's the closest thing to digital cash I have ever owned. But the transaction fees have been way too high lately. That's why I like Litecoin. 

That wouldn't be that bad. Get some attention off BTC and let the developers develop. Concentrate on the final product LN without all this BS that's going on now.

[Paashaas]

I like the new LightningCharge from Blockstream, a new micropayment processing system (API) that makes it easy to build apps on top of Lightning. It’s already powering the Blockstream Store, an e-commerce site they launched today.

Key word is: To Build Apps On Top Of Lightning

https://blockstream.com/2018/01/16/lightning-charge.html

[bonipper]

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

Bitcoin is less volatile now. Unless the bull market has ended - which I do not think it has - most of these other crash comparisons are not really valid.

Right now this is a healthy correction - one many people called - that will lead to another bullish year in 2018 with BTC prices well above $50k. BCH might die however

MtGox had a massive effect on bitcoin's price years ago as it had most of the trading volume. Today the volume is spread among lots of exchanges. If one goes down the traders just move to another.

MtGox crashed the price in mid 2103 by stopping trading for two weeks. It crashed it again in 2014 by going bankrupt.

[Paashaas]

Look at this poor guy, if he had invested that money into Bitcoin....

This is the problem with not-well informed people buying shit coins.

Bitconnect is dead they already shutting down services...LOL.

[Peter R]

Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

I'm not even saying Bitcoin didn't have worse days because it has certainly been going through a lot and came out on top. This past year has been a gold rush for Bitcoin and if it did crash back down to really low prices I think it would destroy a lot of confidence in the market. People might discard it again.

And I agree on another post that Bitcoin should be USED. It's the closest thing to digital cash I have ever owned. But the transaction fees have been way too high lately. That's why I like Litecoin.  

Agreed.  My bet is that this isn't actually a crash, but a correction and that the bull market is still in tact.  I suspect we'll see new ATHs for bitcoin in 2018.  

I also suspect the ratio of the two bitcoins (BCH / BTC) will be much higher though once people sober up and realize the problems with BTC....cough....cough....

[HairyMaclairy]

Seems like scalping right off $10K on GDAX and Bitfinex was a classical technical analysis trade.

Was under $10K probably for less than a minute.

Tons of stop losses under... but many buy-limits under also

It’s a great lesson about not putting stop losses immediately below a major resistance point.

[oblox]

Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

I'm not even saying Bitcoin didn't have worse days because it has certainly been going through a lot and came out on top. This past year has been a gold rush for Bitcoin and if it did crash back down to really low prices I think it would destroy a lot of confidence in the market. People might discard it again.

And I agree on another post that Bitcoin should be USED. It's the closest thing to digital cash I have ever owned. But the transaction fees have been way too high lately. That's why I like Litecoin.  

Agreed.  My bet is that this isn't actually a crash, but a correction and that the bull market is still in tact.  I suspect we'll see new ATHs for bitcoin in 2018.  

I also suspect the ratio of the two bitcoins (BCH / BTC) will be much higher though once people sober up and realize the problems with BTC....cough....cough....

...but seriously, why would I use BCH over LTC? Because I don't want a coin with an option to use segwit? I'm trying to get the selling point of using BCH over something that already is established.

[Peter R]

...but seriously, why would I use BCH over LTC? Because I don't want a coin with an option to use segwit? I'm trying to get the selling point of using BCH over something that already is established.

Since windjc asked me this exact question last week, I'll quote my response to him:

"I view money as a ledger.  Or "money as memory," as per the work of Kocherlakota. From this viewpoint, it is the information encoded in the ledger about who owns which coins that is of value.  The actual mechanism used to update that ledger is just a technical decision -- which is the best paper to write on?  Which is the best pen?

Bitcoin Cash (BCH) and Bitcoin Core (BTC) share the same ledger up until August 1.  At this point, the "ledger updating mechanisms" diverged (BCH allowed more information about the state of the ledger to be updated every ten minutes to facilitate growth).

Switching to LTC would be like ripping up the "ledger of money" because the pen we were using to update it ran out of ink.  Instead, just get a better pen and keep updating the same ledger."

[HairyMaclairy]

If your rationale is “cash” then the longetivity of the ledger is irrelevant.  I get in and I get out of Litecoin at my destination.

No one cares that the Bcash ledger goes back to 2009 and the Litecoin ledger only goes back to 2011.

If you do care, you are being financially irrational.   The only choice is what vehicle gets me there fastest and cheapest.   

If I am using BTC as a trading pair it is often cheaper and fast enough just to stay in BTC.

[BlackMambaPH]

It's like buy now or cry later vs sell now and enjoy your Payouts. 30K usd by March. Still hodl! We need patience guys.