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

[mfort312]

I wanted more pain than that.

Yeah, that was barely even a pinprick!

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[JayJuanGee]

1 btc still worth 1 btc

Except it's not. Tainting is hugely prevalent now.

Newly mined coins go for a premium.
 
etc. etc.

Do you really think that we have fungibility concerns in bitcoinlandia?  

Besides the bare assertion that you just made, what is your evidence,  your logic and/or facts?

[HairyMaclairy]

This is an interesting twist on the USDT thing: that they are capitalised, but went about it backwards. http://telegra.ph/Tether-could-be-guilty-of-perpetrating-a-huge-fraud-just-not-the-one-we-think-02-01

oooooh, I like that theory too

tldr/ bitfinex may have been indeed printing unbacked tethers at key moments to snap up cheap coins

then selling the BTC OTC for real dollars to back the tethers

the auditors were going to notice that things were happening in the wrong order

That has a tendency to go wrong when the price stops going up.  

In happier news, I am going to have a lot more BTC if this shake continues.  

[becoin]

Every central bank is the trading cycle for their respective currency. USDT is a private currency of Fiinex. It is quite natural if Finex defines the trading cycle of USDT.

Fed is the trading cycle for USD. Finex is the trading cycle for USDT. Get used to it and move on!

I feel like one of us has entirely missed the point of this conversation.

You think Finex defines the trading cycle of BTC by minting USDT. This is not true. Finex defines the trading cycle of USDT! They can do whatever they want with their private currency if they meet all their obligations. If you're not happy create your own currency and sell BTC against it. Hope that clears all missed points.

[Enjel]

Just to be clear... HODLers of the 2013-2014 crash aren't really worried about this, right?

I mean, you guys took a 90% hit, kept accumulating more coins, and eventually the price recovered and boomed.

I personally don't have any fear. Picked some up at 8.5k, looking to see what will happen next.

Hasn't even breached key support yet. Masterluc's graph shows 8k as a possible bottom. We'll see where the bounce takes us.

[JayJuanGee]

JayJuanGee, it was all over at this moment.  You shoulda just set all your money on fire the second this happened:

What is your reference, roachie poachie? 

Do you expect that peeps (including me) are going to know what "this" refers to? 

And, even if you have any kind of possible point that makes some sense, you seem to be attempting to assert that there is some kind of objective truth in regards to the direction of bitcoin, no?  Are you arguing a kind of fatalism now? 

or are you just throwing out random shit trying to figure out if anything might stick attempting to engage in distracting and non-relevant points that make no sense at all within a bitcoin context?  Hey, isn't this thread about bitcoin in some kind of way?

[rafanadal]

There is no bounce, this is a small momentarily correction
by tomorrow, we'll be sub 8k or close to that number.

[HairyMaclairy]

Just to be clear... HODLers of the 2013-2014 crash aren't really worried about this, right?

I mean, you guys took a 90% hit, kept accumulating more coins, and eventually the price recovered and boomed.

I personally don't have any fear. Picked some up at 8.5k, looking to see what will happen next.

Hasn't even breached key support yet. Masterluc's graph shows 8k as a possible bottom. We'll see where the bounce takes us.

I bought at $750 and saw lows of $120.  Bitcoin is not going anywhere.   But plenty of ICO tokens will go to zero.  

I will be buying very aggressively.  This is my chance to put the lessons I learnt in 2014 into action.

But Im not buying yet.

[Toxic2040]

Capitulation is nigh. Waiting for the daily probably.
More buying at $8100 perhaps.

[pera]

ok

I'll say it :

Who sold at bottom ?

the bottom was 10k

And before that it was 12k, and before that 14k... and now it's 8k?

It's almost like selling at the "bottom" could be actually a good strategy

One year ago it was 1k. Now it's 8k. It looks like buying at the top is a better strategy.  

I was just making a joke about this concept of "bottom": both local maximums and minimums have no relevance in a random walk

[vroom]

this is not the recovery I expected. I think we will go lower in the next days before true recovery starts.

[Enjel]

Just to be clear... HODLers of the 2013-2014 crash aren't really worried about this, right?

I mean, you guys took a 90% hit, kept accumulating more coins, and eventually the price recovered and boomed.

I personally don't have any fear. Picked some up at 8.5k, looking to see what will happen next.

Hasn't even breached key support yet. Masterluc's graph shows 8k as a possible bottom. We'll see where the bounce takes us.

I bought at $750 and saw lows of $120.  Bitcoin is not going anywhere.   But plenty of ICO tokens will go to zero.  

I will be buying very aggressively.  But not yet.

I hope so. So much trash that needs to be taken out. I hope every coin that has spent months without any working product goes down. 1500+ currencies?  (Although not my favorite ERC20 alt, PRL. Staying green in a sea of red for now)

I see no reason for the Bitcoin price to be crashing actually past support - just a correction from a massive run. Payment is getting better, LN implemented.

Some FUD about a ban which Bitcoin has survived before, and Tether which is blown out of proportion by FUDsters.


ALSO, is this truly "capitulation" (we already had a massive shakeup - you'd think all the weak hands would've been shaken off a long long time ago), or rather manipulation?

[Gyrsur]

this is not the recovery I expected. I think we will go lower in the next days before true recovery starts.

Bitfinex still sells BTC for USD because the need it to prove Tether is real. 

[ivomm]

I have a strong gut feeling something like this is going to happen: 

[JayJuanGee]

What is the reason for this drop? I’ve seen lots of FUD in my time... but this??

This is plain stupid.

It NOT be called stupid.


It be called:  "normal" price swings.   

[lightfoot]

I am really tempted to go and actually purchase some bitcoins......

[sa_94]

I am really tempted to go and actually purchase some bitcoins......

A much better idea than selling at this point even if we do go down further.

[centralbanksequalsbombs]

I'd feel guilty if I didn't share with you guys - join me and eat up...

....Nom, Nom, Nom

huh? you look confused?

time to buy and load up. its september 2017 and bitcoin on sale for 3,100usd.
buy and come back in 4 years.


nom, nom, nom

...nom, nom, nom...

Christmas came back quick! What a wonderful new year, welcome to 2018.

Time to buy and load up, its february 2018 and bitcoin on sale for 8,900usd! lightning network emerging. scamcoins dying.
buy and come back in 4 years.

...nom, nom, nom...

[itod]

People, things are not complicated, this is not some kind of natural disaster, what is happening is that scammers at Scamfinex have to produce 1 US$ for every 1 USDT they produced out of the thin air, or they will go to jail. No matter how low the price is, they have no choice but to sell BTC, there's no other way they can produce US$. Point is they can not sell your coins, they can only sell theirs. It's that simple, why would anyone care if they loose the whole sum they've acquired through scam? They can either sell enough to cover the scam, or fail and go to jail. Sooner or later they will run out of BTC and the line will be drown under, their BTC will be in someone else hands, but your BTC will remain in yours. It's that simple, as someone said 1 BTC will always be 1 BTC, there's no reason to fear of their failure. Only way you can fail is to sell your coins, otherwise you can not lose because this is not your game that is happening right now.

[TERA2]

Guys, I Sodl.

I'm a long term holder. Bought my first bitcoin in 2013 to buy MDMA on SilkRoad. Later got inspired as a software vendor by the idea of cheaper transactions (Visa getting 20% of my profit!).

I Hodl in 2014 when times were grim. I hodl because I believed that Bitcoin would disrupt finance, distribute power, and improve the quality of life with lower cost transactions.

Now Bitcoin seems more like digital gold... something the rich need to store their vast wealth and move it around. Or bitcoin/altcoins are a way to gamble like trading baseball cards. That just doesn't turn me on.

We've been saying that bitcoin isn't perfect because "it's like the internet in 1990". We said that 5 years ago, and people are still saying it again today.

I'm not giving up on Bitcoin, but I've sold 50%. Now I can breathe. I still believe in the dream of a decentralized currency. Still believe in bitcoin. And going to now focus on how I can support making bitcoin a currency.

Interesting. I also never would have gotten into bitcoin early if not for some kandi kid telling me about the silk road. However, once I learned and got fascinated with the technology, I forgot about the silk road and was solely focused on trading and mining. Its not easy to trade on drugs - the mind is slow and the chart does wierd shit on its own. I hope youre not still getting mdma in the mail - thats a bad idea - its bulky and dogs can smell it, not to mention it is neurotoxic,

You dont have to give an excuse to sell 50%. Thats a very rational thing to do if youre dealing with 6-7+ digit figures and you want to diversify and make youre set for life. I sold half at $18,800. Only if you sodl all would you need to confess.