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

[mike4001]

lol

~ 750 BTC buywall at 11,7k at bitstamp ...

[realr0ach]

The annoying part about Jbreher is he knows Lightning Network is useless for mainstream adoption and would just morph into a centralized hub and spoke model replica of the current banking system, while on-chain scaling is also useless.  Instead of just admitting the whole thing is a designed to centralize, unworkable scam, he just chooses unworkable option B instead of A.

Bitcoin is a currency, not money (settlement system), thus it's value has to be derived from ability to faciliate mass commerce (transaction flow, not stock).  The value of metals can be huge even with low transaction flow because it's the best settlement system around (money) and can derive value solely from stock if it wants to (but can also simultaneously be used as currency as well).  Bitcoin cannot do this.  Hell, if it's transaction flow goes low, the thing is even designed to die.

Bitcoin was designed in a poor manner where it's obviously just a currency (hence why it's called cryptocurrency), but it's low scalability prevents it from performing that task whatsoever.  So people started to make believe it has to have some type of purpose and can't be completely useless, so that purpose has to be a settlement system because it's unable to do anything else.  The problem there is it has built-in middlemen and doesn't remove counterparty risk, while having more black swans that can destroy it than you can count, so it's completely useless and inferior to the billions of years old settlement system (money) that already exists - gold and silver.

It's 100% impossible for bitcoin to compete with metals as a settlement system (aka base of Exter's Pyramid).  Just give up because it has no fundamentals to do so.

[Gab0]

https://twitter.com/coinbase/status/966002538326638592

_________________________________


Edit: and there is more ...



https://medium.com/bitfinex/bitfinex-adopts-segwit-8e6c5d72fcf9

[mike4001]

https://twitter.com/coinbase/status/966002538326638592

Great!

I hope this is mandatory.

Should help to keep the mempool clear.

[Nosk]

Update from this post :

So far so good, nothing really unexpected. We definitely broke the last resistance.
The good news is the trend seems to get stronger and stronger. In fact, there is, as shown on the figure, the beginning of a volume spike. This straighten the uptrend and will help the price to rise again if it bounces off the next resistance. That makes the "worst" short term future scenario bullish. The best case scenario is btc price stagnating a few days in the next resistance, enough to gain momentum and break it.



Profits are in the buying side, of maybe a bit of selling if you expect some bouncy swings.

We are just digging through the resistance like it was butter. We will stay in the bullish channel until the next big PHAT resistance.
It's gonna be pretty nasty, this resistance took some pretty huge swing during and after the bullrun. It won't be the end if we bounce, but if we go through, I predict that we'll enter a full bull market for the next following monthes.




EDIT : 1 day candle reverse head and shoulder pattern emergence :

[realr0ach]

We are just digging through the resistance like it was butter. We will stay in the bullish channel until the next big PHAT resistance.

Wait a minute.  The "MasterLuc" so called bull channel was completely obliterated when it broke through $7500 and plumetted to $6000, and now you just pretend it didn't happen and that Bitcoin is always in a "bull channel" no matter how badly the TA breaks down? LOL.  You got to love bitcoin pump and dump scammers.  Everything is bullish! Even non-bullish things!  The price can only go upwards and never down! It's impossible to lose money while buying valueless imaginary tokens!

[Karartma1]

Bitcoin Core 0.16 will make it easier even for unsavvy users to adopt SegWit for good. The brave and steady development of the LN is helping sustaining these price levels if you ask me.
Price will reflect this in the long run.
It seems so distant the struggle to reach 5digits!

[Nosk]

and now you just pretend it didn't happen and that Bitcoin is always in a "bull channel" no matter how badly the TA breaks down?

You do know that I only interpret what I see, right ?

Everything is bullish! Even non-bullish things!

Look at the previous posts I made. Almost everytime I mentionned how the price could bounce and go down. Just gave my opinion about why it could go up. And surprise, it's going up !

[Toxic2040]

Wait a minute.  The "MasterLuc" so called bull channel was completely obliterated when it broke through $7500 and plumetted to $6000, and now you just pretend it didn't happen and that Bitcoin is always in a "bull channel" no matter how badly the TA breaks down? LOL.  You got to love bitcoin pump and dump scammers.  Everything is bullish! Even non-bullish things!  The price can only go upwards and never down! It's impossible to lose money while buying valueless imaginary tokens!

I have got to quote this for the record...

Not one mention of PM's...

Time to buy more Bitcoin.

[realr0ach]

Wait a minute.  The "MasterLuc" so called bull channel was completely obliterated when it broke through $7500 and plumetted to $6000, and now you just pretend it didn't happen and that Bitcoin is always in a "bull channel" no matter how badly the TA breaks down? LOL.  You got to love bitcoin pump and dump scammers.  Everything is bullish! Even non-bullish things!  The price can only go upwards and never down! It's impossible to lose money while buying valueless imaginary tokens!

I have got to quote this for the record...

Not one mention of PM's...

Time to buy more Bitcoin.

Did I mention the other no win scenario currently developing in craptocurrency?  You currently have the BIS Jews talking about banning bitcoin, so there's only two possibilities:

1)  A reverse psychology play where they pretend to be against bitcoin but want idiots to buy it to get people into a cashless society control grid instead of people buying metals

or

2)  They really are against bitcoin and the only thing they have to do to send the value to zero is cut off convertability to fiat at....two exchanges....Coinbase and Bitstamp

Either scenario means buying bitcoin over metals is stupid.  Yes, they can always attempt to 'ban' metals again, but it's not actually possible to do so.  The metals don't cease to exist because a Jew says so and are still traded because they're actually used in industries and such.  Turning off convertibility of bitcoin to fiat does make it might as well not exist, though.

[ssmc2]

Big azz wall on Stamp

Edit: is it gonna get pulled or eaten? 

[Wekkel]

...Jews ...

Yes, we know it is all her fault... 

[BlindMayorBitcorn]

This is so confusing. How am I supposed to spend my golden years greeting customers if I'm not poor? There must have been a clerical error.

[Ibian]

This is so confusing. How am I supposed to spend my golden years greeting customers if I'm not poor? There must have been a clerical error.

Do it anyway. A job is now a voluntary activity! Jubilations!

https://www.youtube.com/watch?v=Z8zNsUTWsOc

[BTCMILLIONAIRE]

This is so confusing. How am I supposed to spend my golden years greeting customers if I'm not poor? There must have been a clerical error.

Do it anyway. A job is now a voluntary activity! Jubilations!

https://www.youtube.com/watch?v=Z8zNsUTWsOc

I'm intrigued. Is this movie worth watching?

[Wekkel]

This is so confusing. How am I supposed to spend my golden years greeting customers if I'm not poor? There must have been a clerical error.

Do it anyway. A job is now a voluntary activity! Jubilations!

https://www.youtube.com/watch?v=Z8zNsUTWsOc

I'm intrigued. Is this movie worth watching?

Only if you want to see the future...

[bitserve]

Have Bcash died already?

[Ibian]

This is so confusing. How am I supposed to spend my golden years greeting customers if I'm not poor? There must have been a clerical error.

Do it anyway. A job is now a voluntary activity! Jubilations!

https://www.youtube.com/watch?v=Z8zNsUTWsOc

I'm intrigued. Is this movie worth watching?

Yes.

To be completely honest, you only need to watch the intro (and can do so on youtube). But the rest of the movie is alright too.

[d_eddie]

South Korea economic policymaker Jung Ki-Joon found dead in his home. He was one of the main government advisors for cryptocurrency matters. Probably a heart attack.
He was the single most important contributor to the recent KYC/AML crackdown on South Korean exchanges.
Hm. Hm. Don't know what to think. Bullish? Bearish? Dontgiveafuckish?
Was it really his heart, or something he drank/ate?
I'm beginning to sound like Torque, I know, but but...

[Ibian]

South Korea economic policymaker Jung Ki-Joon found dead in his home. He was one of the main government advisors for cryptocurrency matters. Probably a heart attack.

*writes pro-bitcoin-SK-fanfiction furiously*