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Question: Did we reach the bottom already?
Yes - 60 (50%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25881977 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (170 posts by 5 users with 9 merit deleted.)
xhomerx10
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January 30, 2018, 12:05:22 PM

PS. My real estate guy went manic climbing the peak. Now he's in the red and he's sour about it. He's no fun anymore either.

 The shit he was peddlin' in 2007 wasn't so hot either.
"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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1670227483
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Reply with quote  #2

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somac.
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January 30, 2018, 12:07:55 PM


Edit:  great buying guys !  Bottom of the wedge !!  ....  /hide

Or about to take a dive  Sad

Edit: On another note, the market looks like the only buys and sells are from short term traders trying to make a few bucks. It seems demand from new entrants or long term investors has completely died off. I can see this on my local exchange vs the overseas ones. 2 months ago there was a 10% difference in price, that has now dropped down to <2%. Not good, this massive drop in demand.

The whales are letting the market to cool off after their pump and dump. Calculating profits  Grin As soon as they're sure all weak hands are out they'll pump again.

We aren't even close to the weak hands being forced out yet. This is shaping up to be another 2014/15. Put the screens down and check back in two years

Why do you say that?

I think that any weak hands would have been forced out long ago, when the price dropped to 9k.

weak hands are gone IMO as well.
somac.
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January 30, 2018, 12:13:19 PM
Merited by Heater (1)

Dear user,

We will be reopening the batch of the Antminer A3, the Blake(2b) miner, tomorrow.

Only Bitcoin Cash (BCH) will be accepted as payment method for this batch. Please select the payment method within 30 minutes of your order submission or otherwise, your order will be EXPIRED.

7. After successfully selecting the payment method, please complete the Bitcoin cash (BCH) payment for your order within one hour, or, otherwise, your order will be EXPIRED.

 Cheesy Cheesy  BCH rulez ... or

i will not buy but .. why? bch

Because the only thing bcash is used for is buying antminers. If they don't enforce that as the payment method, bcash is not used anywhere else. The sociopaths behind bcash have egos to satisfy, remember they are geniuses because they bought in early, and they are geniuses because they created the real bitcoin called bcash. lol.
RayX12
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January 30, 2018, 12:15:51 PM
Merited by RejectedBanana (1), rezurect007 (1)

I was blown away yesterday when I opened my Electrum wallet and wanted to send BTC to some family members as part of a Chiristmas gift.  The idea was to send my $100 dollar gifts with low fees so that I would not be giving much of my gifting to the miners.  To my surprise the lowest calculated fee on the wallet was equivalent to 191 sat/b while the mempool was chugging away at 20-30 sat/b.  So I clicked the manual fees option and sent the transaction at 40 sat/b.  Today (a few hours later) I went back to my wallet and clicked automatic (dynamic) fee calculation and the calculated fees had dropped to a correct levels like 5 to 50 sat/b.  Then I took a look at the Bitcoin fees page https://bitcoinfees.earn.com/ and realized that still many people are sending transactions with huge fees while others have scaled fees somewhat appropriately.  

I am shocked at the variability of how much money the miners are charging for processing the transactions.  My transactions are small so typically 226 bytes is a good average size, today I can send transactions for 10 sat/b or 226sat x 10sat/byte / 100000000 = 0.0000226  BTC ($0.24) and there are people who are still paying 300 sat/byte or 30 times more 0.0000226 * 300/10 = 0.000678 BTC or ($7.48).  And then you can see on the fees transaction page ( https://bitcoinfees.earn.com/ ) that the bulk of the transactions are centered around 191 to 200 sat/byte; and that is the shocking part.  This means that most of the wallets used are still stuck around the 191 to 200 sat/byte and not adjusting the fees dynamically like I noticed yesterday.

My conclusion:  The miners have influenced the wallet generators to keep transactions very expensive so they can profit more.  Electrum wallet fees will remain very high unless you switch to manual fees and send some cheap transactions, then the automatic fee calculation will kick in when you go back from manual to automatic fee calculation.  This change in automatic fee calculation did not happen immediately so be careful if you want to send some cheap transactions that the fees are adjusted properly and probably better to configure the fees manually.

I am on the belief that the spammers have finally realized that it is not to their advantage to keep spamming the mempool and hurting Bitcoins ability to send money cheap!  It will be very interesting to see what the future holds for Bitcoins when lightning fast transactions and smart contracts are activated on the network.

eidt: Also noticed that the fee transaction page still says:

"Which fee should I use?
The fastest and cheapest transaction fee is currently 170 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 38,420 satoshis."

False information again to benefit the miners!!!!
El duderino_
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January 30, 2018, 12:28:20 PM

Taking off now .... This means 10h and 10 minutes off No price checking..... i know looking doesn’t change anything but i love to price check the energy complete out of my phone  Roll Eyes
El duderino_
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January 30, 2018, 12:30:24 PM


Edit:  great buying guys !  Bottom of the wedge !!  ....  /hide

Or about to take a dive  Sad

Edit: On another note, the market looks like the only buys and sells are from short term traders trying to make a few bucks. It seems demand from new entrants or long term investors has completely died off. I can see this on my local exchange vs the overseas ones. 2 months ago there was a 10% difference in price, that has now dropped down to <2%. Not good, this massive drop in demand.

The whales are letting the market to cool off after their pump and dump. Calculating profits  Grin As soon as they're sure all weak hands are out they'll pump again.

We aren't even close to the weak hands being forced out yet. This is shaping up to be another 2014/15. Put the screens down and check back in two years

Why do you say that?

I think that any weak hands would have been forced out long ago, when the price dropped to 9k.

weak hands are gone IMO as well.

But the semi weak hands are still in .... but maybe let them stay in  Grin
TERA2
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January 30, 2018, 12:38:45 PM

The strange part about all this is that the possibility to continue to another ATH is still not completely off the chart and could fit the previous pattern..
Asrael999
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January 30, 2018, 12:56:23 PM


Edit:  great buying guys !  Bottom of the wedge !!  ....  /hide

Or about to take a dive  Sad

Edit: On another note, the market looks like the only buys and sells are from short term traders trying to make a few bucks. It seems demand from new entrants or long term investors has completely died off. I can see this on my local exchange vs the overseas ones. 2 months ago there was a 10% difference in price, that has now dropped down to <2%. Not good, this massive drop in demand.

The whales are letting the market to cool off after their pump and dump. Calculating profits  Grin As soon as they're sure all weak hands are out they'll pump again.

We aren't even close to the weak hands being forced out yet. This is shaping up to be another 2014/15. Put the screens down and check back in two years

Why do you say that?

I think that any weak hands would have been forced out long ago, when the price dropped to 9k.

weak hands are gone IMO as well.

But the semi weak hands are still in .... but maybe let them stay in  Grin
There is still to much hope in this forum. 
Last of the V8s
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January 30, 2018, 01:21:00 PM

Taking off now .... This means 10h and 10 minutes off No price checking..... i know looking doesn’t change anything but i love to price check the energy complete out of my phone  Roll Eyes
Happy hols! Where are you off to? Thailand?

Cryptos market will be boring until March.
Lets be patience.
Boring, but still tradeable. Or you could set up a full node...
To become patient, we must be patience; I like it.
Or did you mean 'Let's play patience'? I prefer the paperclips thing, but each to his own.
http://www.decisionproblem.com/paperclips/index2.html



meanwhile, Samsung and chips
https://www.newsbtc.com/2018/01/30/samsung-south-koreas-largest-company-manufacturing-asic-chips-bitcoin-mining/
bitcoinPsycho
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$120000 by end of 2023 confirmed . Slava Ukraini


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January 30, 2018, 01:25:44 PM


Edit:  great buying guys !  Bottom of the wedge !!  ....  /hide

Or about to take a dive  Sad

Edit: On another note, the market looks like the only buys and sells are from short term traders trying to make a few bucks. It seems demand from new entrants or long term investors has completely died off. I can see this on my local exchange vs the overseas ones. 2 months ago there was a 10% difference in price, that has now dropped down to <2%. Not good, this massive drop in demand.

The whales are letting the market to cool off after their pump and dump. Calculating profits  Grin As soon as they're sure all weak hands are out they'll pump again.

We aren't even close to the weak hands being forced out yet. This is shaping up to be another 2014/15. Put the screens down and check back in two years

Why do you say that?

I think that any weak hands would have been forced out long ago, when the price dropped to 9k.

weak hands are gone IMO as well.

But the semi weak hands are still in .... but maybe let them stay in  Grin
There is still to much hope in this forum. 
Btc price this time last year around $1000 price today$10825  what's to be negative about?
luckygenough56
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January 30, 2018, 01:30:11 PM

i think we may have just broke the triangle down
fabiorem
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January 30, 2018, 01:33:16 PM

Two things can happen now: either we go sideways until the end of february, or we go sideways for two years.

Market is in hybernation. We just dont know for how long.
luckygenough56
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January 30, 2018, 01:35:37 PM

Two things can happen now: either we go sideways until the end of february, or we go sideways for two years.

Market is in hybernation. We just dont know for how long.


convenient thinking only sideways can happen lol? What about down.

i certainly don't want to buy at 10k and i'm sure i'm not the only one.
fabiorem
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January 30, 2018, 01:38:00 PM

convenient thinking only sideways can happen lol? What about down.


What about up?

Everytime some whale try to push it down, people go there and buy it, and the price goes up again.

Then they try it again, and people buy once more.

That's why it will go sideways.

Rosewater Foundation
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January 30, 2018, 01:42:48 PM

Such fun Sad
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January 30, 2018, 02:11:18 PM

why is coinbase having such weird spikes on the drop times?
I find this strange that they are situated all at the botom too

http://data.bitcoinity.org/markets/spread/24h/USD?c=e&f=m10&r=minute&st=log&t=l
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January 30, 2018, 02:27:36 PM

Such fun Sad

I did have one BTC buy order fill in the past hour based on this downward BTC price movement, yet I still have 4 more BTC buy orders in the lower $10k arena that are still pending and then another 4 more in the lower $9k arena  that would be pending on the buy side, thereafter.

Nail-biting?   What is going to happen?

I do feel about 50% more poor from out $19,666 price arena, even while I feel 10x more rich from last year.

Could not be that bad for those of us BTC HODLers who have been "in" for more than a year, correct?
JayJuanGee
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January 30, 2018, 02:30:34 PM

why is coinbase having such weird spikes on the drop times?
I find this strange that they are situated all at the botom too

http://data.bitcoinity.org/markets/spread/24h/USD?c=e&f=m10&r=minute&st=log&t=l

Could be from the thinning of the order books, which tends to be something that happens during volatile times and considerable price movements.

If bear whales are becoming successful to get some of the buy orders off the books on one or more exchanges, then they can be successful to push the price down.  Still not a certain thing, but larger price spreads seems to be sign of a dynamic and potentially explosive market.
vexbuy
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January 30, 2018, 02:33:59 PM

The strange part about all this is that the possibility to continue to another ATH is still not completely off the chart and could fit the previous pattern..

What would the timeframe for an ATH be though?
mike4001
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January 30, 2018, 02:56:17 PM

The strange part about all this is that the possibility to continue to another ATH is still not completely off the chart and could fit the previous pattern..

What would the timeframe for an ATH be though?

Maybe at the next Halving in 2020.

We went below 10,5k again. Anyone thinking this will change anytime soon is purely speculating and trying to get others to buy.
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