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

[RoomBot]

https://twitter.com/ReutersBiz/status/953802924873977857

crap

Just FUD.  On same page:

"Old hands in South Korea Bitcoin market unfazed by threats of ban

Threats of a potential cryptocurrency trading ban in South Korea have scared many investors away, but some veterans of the young market are defiant, saying restrictions would be relatively easy to circumvent."

[JayJuanGee]

I do the same thing with staggered buy orders when I go to sleep but then cancel them when I wake up.

And I'm not pumping alts - I just think they're good daytrades during high volatility movements. At this point I wouldnt reccomend them - only before. When I first came on board in 2013 I followeds bitcoin but daytraded litecoin instead of bitcoin and made a killing. If I tried to trade btc instead of ltc I'd lose - it wasn't volatile enough. I never hodl alts though - only btc

I really hate to agree with you, Tera, but fair enuff, fair enuff

Regarding your depiction of a systematic approach to alt coins that attempt to leverage them and/or accumulate more BTC, then that seems like a fair and even quasi-relevant to this thread - yet you can likely concede to some of my skepticism regarding alts when there frequently can be a decent level of distraction in this thread and for a lot of folks who move into alts with bad timing and end up getting tricked out of their BTC.

So, perhaps a cautionary tale remains that anyone should recognize dangerousness and even quasi-gambling aspect to playing with alts (might work out to accumulate more BTC and might not).   In other words, I am showing you this dangerous trick that I can do (and I know how to do), but you should not try this at home. 

[thrax]

https://twitter.com/ReutersBiz/status/953802924873977857

crap

Just FUD.  On same page:

"Old hands in South Korea Bitcoin market unfazed by threats of ban

Threats of a potential cryptocurrency trading ban in South Korea have scared many investors away, but some veterans of the young market are defiant, saying restrictions would be relatively easy to circumvent."

South Korea isn't like China, it doesn't have a great firewall doing its best to stop its citizens circumventing restrictions.

[jbreher]

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

Got any data to go with your wild assertion?

Not that I think you're _wrong_, mind you. I just think you're spouting nonsense. I bet you never questioned where you heard that 'statistic'. amirite?

Well, if the pareto principle applies to bitcoin holdings, then the square root of bitcoin users hold half the coins. And the square root of those people hold half of their coins. Go from there.

Umm.. That's not data.

Yes it is. It applies to every area of human productivity that we have examined so far. It's less a matter of proving it than of disproving it at this point.

OK, seeing as you are barging in here with yet another assertion, how many bitcoiners are there?

Dunno, but millions at this point. How many is the question.

And the square root of millions is...?

[HairyMaclairy]

I will lie with alts but I won’t sleep with them.

[TERA2]

[realr0ach]

It looks like it's time for the bitcoin theme song again:

http://www.youtube.com/watch?v=lwL3yP260AQ

[realr0ach]

Oh yea, I'm sure you'll notice Roger Ver in that video going all nuts about bitcoin.  I don't really understand how someone can act so fanatical about bitcoin.  I could understand being that enthusiastic about expelling the Jews from the country, but not bitcoin.  I mean, he's pretending bitcoin is some type of end-all cure for the world's problems.  Does this guy have no idea how the world works?  You are solving 0 problems without getting rid of the Jews.  Whatever type of system you create, the same parasites that took control of the current one will switch right over.  Get rid of the evil cult of parasites if you want to actually make a difference.

[User705]

All of the alts are merely acting like leveraged bitcoin right now. It doesnt matter what you think of that alt. If youre confident bitcoin is going to make a move than using the alt is a more profitable choice. XRP was especially appealing because it was down 75% from the high it had just 2 weeks ago. I figured if btc had a hard rebound then XRP could easily see a crazy spike as high as 200% transiently, though I ended up settling for 50% instead. At the very least you were definitely going to get your buy price back after any kind of bounce. Think of the 85 cent XRP. Where do you think it was going? Was it just going to go down to like 50 cents and stay there indefinitely without any bounces? It was just $3.30. 2 weeks! I understand the fundamental sentiment about ripple but this isnt a penny stock, it's a multi billion dollar digital currency.

This was funny.  At this junctions alts are exactly that.  Low liquidity penny stocks.

[TERA2]

All of the alts are merely acting like leveraged bitcoin right now. It doesnt matter what you think of that alt. If youre confident bitcoin is going to make a move than using the alt is a more profitable choice. XRP was especially appealing because it was down 75% from the high it had just 2 weeks ago. I figured if btc had a hard rebound then XRP could easily see a crazy spike as high as 200% transiently, though I ended up settling for 50% instead. At the very least you were definitely going to get your buy price back after any kind of bounce. Think of the 85 cent XRP. Where do you think it was going? Was it just going to go down to like 50 cents and stay there indefinitely without any bounces? It was just $3.30. 2 weeks! I understand the fundamental sentiment about ripple but this isnt a penny stock, it's a multi billion dollar digital currency.

This was funny.  At this junctions alts are exactly that.  Low liquidity penny stocks.

Not low luquidiity today. During high volume you can buy XRP and ETH from walls of up to $2 million in a single order. Penny stocks are lucky to see $100k of volume in an entire day. Have you ever traded a penny stock? It would be worse than trying to trade PPC, which has 15btc of volume today. It's a nightmare. If you buy at the wrong time you are instantly wiped out with no chance to sell even if the price hasn't moved and you know you need to sell.

[realr0ach]

I have never seen more dishonest people in my entire life as this forum:

Ive already showed him how bitcoin is the bottom of the new exters pyramid

LOL what a joke.  You are the most dishonest dirtbag on this entire forum.  The base of Exter's Pyramid is mostly about whatever asset removes the most risk.  Bitcoin has built-in, rent seeking middlemen and doesn't even remove counter party risk.  Plus it can be destroyed by more black swans than you can count, while it requires a black hole hitting the earth to black swan metals.

Bitcoin is a complete dud attempting to compete in that department as the base of Exter's Pyramid.  You need to either be stupid or some type of chronic liar to think people will believe your lies.  Anyone capable of objective, elementary level fundamental analysis can tell you're wrong, so you only make yourself look like an idiot each time you type it.  Then you have the fact it's not possible to create a decentralized digital currency in the first place, only ones designed to centralize, so they are all nothing more than federated chains in the end - permissioned ledger slavery systems.

[Biodom]

All of the alts are merely acting like leveraged bitcoin right now. It doesnt matter what you think of that alt. If youre confident bitcoin is going to make a move than using the alt is a more profitable choice. XRP was especially appealing because it was down 75% from the high it had just 2 weeks ago. I figured if btc had a hard rebound then XRP could easily see a crazy spike as high as 200% transiently, though I ended up settling for 50% instead. At the very least you were definitely going to get your buy price back after any kind of bounce. Think of the 85 cent XRP. Where do you think it was going? Was it just going to go down to like 50 cents and stay there indefinitely without any bounces? It was just $3.30. 2 weeks! I understand the fundamental sentiment about ripple but this isnt a penny stock, it's a multi billion dollar digital currency.

This was funny.  At this junctions alts are exactly that.  Low liquidity penny stocks.

Not low luquidiity today. During high volume you can buy XRP and ETH from walls of up to $2 million in a single order. Penny stocks are lucky to see $100k of volume in an entire day. Have you ever traded a penny stock? It would be worse than trying to trade PPC, which has 15btc of volume today. It's a nightmare. If you buy at the wrong time you are instantly wiped out with no chance to sell even if the price hasn't moved and you know you need to sell.

GBTC is splitting 1:91, effectively resulting in about 1mbtc/share.
An interesting experiment.

penny stocks could be liquid.
One such example is SIRI that was a penny stock for years with 5 bil shares.
It's volumes pretty much stayed the same all the way from $0.1 (a decade or so ago) to the current price around $5.

[UnDerDoG81]

People dont learn and invest back in ripple. It looks like not much people have interest in Bitcoin. Cant see an ath in the near future.

[Neo_Coin]

[OWZ1337]

People dont learn and invest back in ripple. It looks like not much people have interest in Bitcoin. Cant see an ath in the near future.

why not simply "invest" in the big mega banks they target? :\ you a fool.

[milkshock100]

Can you say....

Dead cat bounce

[windjc]

Nice chart. I have only seen that chart about 1,873,398 times since the beginning of 2013.

So I am sorry if you thought you were posting an original or important idea. You did not.

Nice chart though.

[yonton]

This isn't 2013 any more. There is way too much infrastructure built around crypto for it to crash.

[realr0ach]

This isn't 2013 any more. There is way too much infrastructure built around crypto for it to crash.

What you mean to say is, lots psychopaths who are already rich like Peter Thiel yet have some type of mental problem where having a billion dollars isn't enough money, have invested money that may or may not vaporize unless they can trick idiots into buying their imaginary tokens so they can go from 1 billion to 2 billion net worth and then look for another asset to pump and dump afterwards.

And who's getting fleeced of their money by buying these imaginary tokens?  Stupid Americans of course, as China sells you the imaginary tokens then uses the funds to buy up all the real wealth:

[TERA2]

All I know is that if we were going to crash hard here it would have happened already. It doesnt just drag on for months or inch down on high volume.