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

[bonipper]

About 40 percent of bitcoin is held by perhaps 1,000 users

This is what is wrong with the  bitcoin world.

Never understood why that was an argument against bitcoin.
1% of people own 99% of global resources and it never seemed to bother anyone.

There's huge numbers of bitcoins in addresses that haven't moved since the early days. Nobody's sure if they are owned by anyone or the result of lost private keys. There wasn't much incentive to do backups when bitcoin was practically worthless, and broken hard drives or pen drives could have cost whales their fortunes.

I read about one whale whose 10000 bitcoins are on a broken laptop at the bottom of a landfill. How many more like him are too embarrassed to admit their mistakes?

[undeadbitcoiner]

WHO SODL THE BOTTOM ?!???

I had to bob, else it would have keep going down!

Now the question is who got chance to buy BTC 50% Off? Never gonna happen it again.
And good luck to those who bought BTC@19K and Sold at 9K 

If you cant believe in Crypto than only i can say is
Just F^^K your ass yourself.

[LFC_Bitcoin]

In a city centre hotel room, supposed to be partying tonight but I keep checking the price. Is the nightmare crash over?

[itod]

True story:

My daughter knows that I'm in Bitcoin, and today she asked me if I know that bitcoin is crashing, she saw it somewhere online. I told her that I know, and without me explaining anything about it, she gathered half of her savings and asked me isn't it now good time to buy and can I help her do it?

Makes daddy proud. HODLer by nature.

What was your answer?

Explained to her that it can go to $0, but on the other side what BTC can become. She said she is fine with chances to go to $0, and then I bought for her.

[rafanadal]

Is the nightmare over yet ?

Nope, looks like we are going sub 10k again

[Starving_Marvin]

Is the nightmare over yet ?

Nope, looks like we are going sub 10k again

Good, I've still got $2000 that I forgot to spend.

[jojo69]

Can someone awake jinbo torrento

Jimbo is chillin' in Mexico, away from all the stress and bluster of Bitcoin

that man has immaculate timing

[conspirosphere.tk]

on the plus side, lots of overpumped garbage has been purged.

[Neo_Coin]

[BTCMILLIONAIRE]

on the plus side, lots of overpumped garbage has been purged.

BEE CONNNEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEECT WEEEEEEE

True story:

My daughter knows that I'm in Bitcoin, and today she asked me if I know that bitcoin is crashing, she saw it somewhere online. I told her that I know, and without me explaining anything about it, she gathered half of her savings and asked me isn't it now good time to buy and can I help her do it?

Makes daddy proud. HODLer by nature.

What was your answer?

Explained to her that it can go to $0, but on the other side what BTC can become. She said she is fine with chances to go to $0, and then I bought for her.

Smart girl. Good job.

[jbreher]

I'm not sure what's going on. Why isn't there more buying pressure? sub $8k seems very cheap to me

I think you'd be surprised how little money from retail investors was the cause of the actual rally during the month of Dec. The whale pump money probably outnumbered Average Joe money like 100:1.

Which also means this isn't Average Joe panick selling, it is whale(s) shorting.

Nobody in his right mind buyin something that has gone 20x for no reason at all , other than to play on very short term bounces

sorry for broken english

Your English is fine. It's your perception that needs work. With so many new participants streaming into the space, a rapid rise was inevitable. As is the correction. As will be the subsequent recovery and the next skyward burst.

[jojo69]

Fuck it. I'm buying.

that's the spirit

[Elix9]

https://www.youtube.com/watch?v=EhVdx62yQFE

Some decent analysis going on. Good to entertain the possibilities.

[Torque]

This crash, er correction, er whatever it is really sets things up well for the rest of the year.

So many newbs, naysayers, and casual mom and pops out there who have been thinking about dipping a toe into Bitcoin definitely won't now. They'll have a laugh now and it will fade, and they will completely put Bitcoin out of their mind.

And then they will again be shocked when it takes off to the moon again later on this year or next. I almost feel bad for the people who just can't seem to win because they believe they are smarter than everyone else already involved.

[BTCMILLIONAIRE]

I'm not sure what's going on. Why isn't there more buying pressure? sub $8k seems very cheap to me

I think you'd be surprised how little money from retail investors was the cause of the actual rally during the month of Dec. The whale pump money probably outnumbered Average Joe money like 100:1.

Which also means this isn't Average Joe panick selling, it is whale(s) shorting.

Nobody in his right mind buyin something that has gone 20x for no reason at all , other than to play on very short term bounces

sorry for broken english

Your English is fine. It's your perception that needs work. With so many new participants streaming into the space, a rapid rise was inevitable. As is the correction. As will be the subsequent recovery and the next skyward burst.

Aren't you supposed to be a bear

[BTCMILLIONAIRE]

This crash, er correction, er whatever it is really sets things up well for the rest of the year.

So many newbs, naysayers, and casual mom and pops out there who have been thinking about dipping a toe into Bitcoin definitely won't now. They'll have a laugh now and it will fade, and they will completely put Bitcoin out of their mind.

And then they will again be shocked when it takes off to the moon again later on this year or next. I almost feel bad for the people who just can't seem to win because they believe they are smarter than everyone else already involved.

Just almost though. There really isn't anything new going on and the same patterns existed in every market that has ever emerged.

[jojo69]

Here, direct link: https://www.cnbc.com/2018/01/16/cryptocurrency-sell-off-tether-faring-better-than-rest.html
They mention the pegged nature, still hilarious header.

[JimboToronto]

Good morning Bitcoinland and greetings from the jungle in the Yucatan peninsula. Internet access is spotty out here so I haven't been checking in daily.

I see the "S. Korea bans Bitcoin" panic is continuing, all the way down to 4 digits and back up a little... currently $10160USD/$12645CAD (Bitcoinaverage).

I'm too lazy to work out the old coin price (damn, the Mexican lifestyle is getting to me) but all alts are down, mostly a lot worse than Bitcoin.

If I was at home I would have jumped on this dip and bought by now. Oh well, at least I bought the CAD in my pocket when the price was almost $21kCAD/BTC.

Hopefully everyone else is stocking up at these bargain basement prices. If prices are still down when I get back to civilization, I'll use what I have left of my travel float to buy more coins.

Hopefully this price foolishness will turn out the same way last January's "China bans Bitcoin" nonsense turned out last year.

Bitcoin is still strong. It's not just about blockchain technology, it's more about open source and decentralization.
_____

Damn. By the time my sketchy internet service got my message posted, we'd gone back down to 4 digits. Oh well, at least the scenery is gorgeous and the Mayans are super friendly.

[Elix9]

This crash, er correction, er whatever it is really sets things up well for the rest of the year.

So many newbs, naysayers, and casual mom and pops out there who have been thinking about dipping a toe into Bitcoin definitely won't now. They'll have a laugh now and it will fade, and they will completely put Bitcoin out of their mind.

And then they will again be shocked when it takes off to the moon again later on this year or next. I almost feel bad for the people who just can't seem to win because they believe they are smarter than everyone else already involved.

I agree, think things look good in the long run but may enter a bear market for a while. There were far too many people blindly throwing money at cryptos, especially alts, for things to grow in a healthy manner.

The alt pump and dumps were a red flag just begging for regulation as well. If the market can't handle RUMORS of South Korea or maybe China regulating, just imagine how devastating actual confirmed news about US regulation or SEC investigations would be.

Far too many normies investing money they couldn't afford to lose that they would yank out of the market at the slightest sign of trouble, did not bode well.

How quickly cryptos went from being about "decentralization" to "I want my lambo" was not encouraging. Who cares if the system is decentralized if it's still run by greed. Forget about having crypto being assimilated into the normiesphere, this should be about creating an entirely new space all together.

[El duderino_]

Good morning Bitcoinland and greetings from the jungle in the Yucatan peninsula. Internet access is spotty out here so I haven't been checking in daily.

I see the "S. Korea bans Bitcoin" panic is continuing, all the way down to 4 digits and back up a little... currently $10160USD/$12645CAD (Bitcoinaverage).

I'm too lazy to work out the old coin price (damn, the Mexican lifestyle is getting to me) but all alts are down, mostly a lot worse than Bitcoin.

If I was at home I would have jumped on this dip and bought by now. Oh well, at least I bought the CAD in my pocket when the price was almost $21kCAD/BTC.

Hopefully everyone else is stocking up at these bargain basement prices. If prices are still down when I get back to civilization, I'll use what I have left of my travel float to buy more coins.

Hopefully this price foolishness will turn out the same way last January's "China bans Bitcoin" nonsense turned out last year.

Bitcoin is still strong. It's not just about blockchain technology, it's more about open source and decentralization.
_____

Damn. By the time my sketchy internet service got my message posted, we'd gone back down to 4 digits. Oh well, at least the scenery is gorgeous and the Mayans are super friendly.

Good enjoy the holiday i go end of the month BUT more important i Will buy little bit more This dip to cover what you are missing