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

[RoomBot]

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Very promissing indeed... (instead of promising)... meaning your bitcoins will be missing after all is said and done...

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Now back to our regularly scheduled Moon shot.

BTC

[Karartma1]

Why don't you guys have an adblocker in the first place?
Anyway, I found an interesting comment on twitter from Garrick Hileman
https://twitter.com/GarrickHileman/status/954086068827185158
One underreported aspect of why South Korean authorities are cracking down on cryptocurrency trading: loss of job motivation when you see your peers making 10-100x speculating on cryptocurrencies over what you make at your day job.
 

[BTCMILLIONAIRE]

Motivation or not, there won't really be anywhere close to enough jobs to go around in the future. So I'd worry about AI and automation rather than temporally limited investment opportunities.

[JayJuanGee]

My views on alts have been evolving.

Just last night my SO ran across some rumor about Amazon adopting BTC and asked me about it.  I had to reply that Bitcoin was not a good fit for retail at this time.

Absent LN, and we have to admit, it has been rather a long time coming, AND raises legitimate concerns about trust and decentralization, one coin can not be all things to all people.

Bitcoin is very secure and decentralized, while being slow, expensive and annoying.  I am good with that.  I like it that way, but I have had to admit that this does open market space for a solution that makes different compromises that favor speed and low fees.

Of course, if they were to bust out LN tomorrow and it was everything people hope that would change things, but there is a finite window of opportunity for that to happen.

So what?

You are coming off with some BIG blocker talking points and trying to suggest that bitcoin has value only if it can be used for retail right now?

There is no artificial narrow window opportunity that you assert.  With the passage of time bitcoin is going to grow and grow and grow, so who gives a ratt's ass about if you can buy coffee with it today at this particular moment?

You can quote me in posterity if you like, but I would be a bit surprised if in 5 years buying coffee would be impractical with bitcoin or some affiliated means - but even if bitcoin remains impractical for buying coffee in 5 years, so fucking what?  I believe that bitcoin still has decent odds of being at least 50% more valuable than today, and also likely the dominant crypto... if it is NOT then, I will likely also have moved over to that other bitcoin killer crypto that took its place. 

TLDR: I doubt that investing in bitcoin is betting on the wrong horse, even if bitcoin is currently not practical at this time to use to buy coffee or other small retail.

[jojo69]

So what?

You are coming off with some BIG blocker talking points and trying to suggest that bitcoin has value only if it can be used for retail right now?

I said nothing of the sort

There is no artificial narrow window opportunity that you assert.

That is a matter of opinion.  I fully understand that the LN devs need to take their time and absolutely get this right, but the longer it takes the more opportunity there is for an alt to seize the, currently unserved, retail use case.

With the passage of time bitcoin is going to grow and grow and grow, so who gives a ratt's ass about if you can buy coffee with it today at this particular moment?

Certainly not me, and I have stated as much on a number of occasions.  As I said above, I support cores choices to prioritize security and decentralization at the expense of speed and thrift.

You can quote me in posterity if you like, but I would be a bit surprised if in 5 years buying coffee would be impractical with bitcoin or some affiliated means - but even if bitcoin remains impractical for buying coffee in 5 years, so fucking what?  I believe that bitcoin still has decent odds of being at least 50% more valuable than today, and also likely the dominant crypto... if it is NOT then, I will likely also have moved over to that other bitcoin killer crypto that took its place.  

TLDR: I doubt that investing in bitcoin is betting on the wrong horse, even if bitcoin is currently not practical at this time to use to buy coffee or other small retail.

I agree with all this and am in full agreement with holding the line on BTCs store of value use case.  That said, the retail use case WILL be served, and soon, if not by LN then by a well engineered alt with a strong dev team.  As time drags on I will be keeping my eye out for that.

[BTCMILLIONAIRE]

Even if Bitcoin never managed to become an efficient tool for remittance and retail it will still remain valuable and keep growing for at least as long as no other crypto replaces it as the default base pair in trading alts. This also means that it'll grow at least proportionally to the overall crypto market for the time being.

[UnDerDoG81]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

[BTCMILLIONAIRE]

Also, the window of opportunity that jojo noted is a very real threat to Bitcoin's position at the very top. Competition is fierce and the market moves fast. All it takes is a superior coin and the right marketing/hype. Granted that's very difficult to pull off (as it would require resources well beyond what ICOs raise), but it's not something that is unthinkable.

[BTCMILLIONAIRE]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

My fiat is still ready for $6-8k.

[JimboToronto]

Buenos dias Bitcoinland.

Still consolidating after this week's N. Korea panic, I see... currently $11340USD/$14125CAD (Bitcoinaverage).

It looks like we're forming a nice little ascending triangle. Hopefully we'll be heading back up soon.

January, bah.

[thrax]

Buenos dias Bitcoinland.

Still consolidating after this week's N. Korea panic, I see... currently $11340USD/$14125CAD (Bitcoinaverage).

It looks like we're forming a nice little ascending triangle. Hopefully we'll be heading back up soon.

January, bah.

Have you found any bitcoin ATMs in Mexico you can use to buy the dip yet? I found twelve in Mexico from a google.

[bitcoinPsycho]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

I don't think so

[BitcoinNewsMagazine]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

My fiat is still ready for $6-8k.

We really do not want to see $6-8K. Prices that low would signal a bear market with a high degree of confidence. A double bottom at $9200 could happen without ending the bull market.

[Elix9]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

I don't think so

What do you base that on?

Do you guys think a government shutdown would be beneficial for the crypto markets right now?

[TERA2]

I see no reversal pattern on the daily chart and flat series of lines at the bottom of the candle body of last drop. Then last night we had that huge attempted breakout where it went up $600 in a second with a good follow through, only for me to wake up today and see it went back down. The volume that was driving the bounce has been gone for a while now.  So this isn't going anywhere until it goes back down and catches support again. I'm not saying it has to drop a whole lot further. It might just be a little like to $8K or it might even be within the shadow of the last drop.

[serveria.com]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

I don't think so

What do you base that on?

Do you guys think a government shutdown would be beneficial for the crypto markets right now?

If you're referring to China ban that's an old story. S.Korea ban? Does BTC give a damn?

[bitcoinPsycho]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

I don't think so

What do you base that on?

Do you guys think a government shutdown would be beneficial for the crypto markets right now?

based on nothing but my belief in bitcoin . Oh and the inevertability chart says so. $20000 by 29th Feb $40000 by March 28th  et cetera

[BTCMILLIONAIRE]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

I don't think so

What do you base that on?

Do you guys think a government shutdown would be beneficial for the crypto markets right now?

If you're referring to China ban that's an old story. S.Korea ban? Does BTC give a damn?

Nope, it doesn't and it won't. After all, countries like Switzerland are embracing cryptos with open arms. As much as I can understand why a government would want to regulate or outright ban cryptos, it's almost certainly the wrong move from just about every perspective.

[Elix9]

2 more days sideways and we´ll see a drop. Thats what happens most of the time when we go sideways after a dump :/

I don't think so

What do you base that on?

Do you guys think a government shutdown would be beneficial for the crypto markets right now?

If you're referring to China ban that's an old story. S.Korea ban? Does BTC give a damn?

Nope, it doesn't and it won't. After all, countries like Switzerland are embracing cryptos with open arms. As much as I can understand why a government would want to regulate or outright ban cryptos, it's almost certainly the wrong move from just about every perspective.

I wasn't talking about government regulations, I was referring to the possibility of a temporary US Federal Gov. shutdown that has been in the news lately.

[jojo69]

What do you base that on?

Do you guys think a government shutdown would be beneficial for the crypto markets right now?

what...on earth...would that non-event have to do with anything??