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

[gembitz]

If bitcoin goes to 35,000 why is it any better then your local house tripling in price and becoming an unavailable purchase for the younger generation in that neighbourhood.   We might view a higher price as a positive but also I think it brings some negatives with it, because the market is both buyers and sellers.
  I'm really more interested in the underlying market developing, I know the price is nice to see rise as a positive indicator but revenue and general population of bitcoin users rising is probably a great positive longer term

Assuming a stable purchasing power of USD, 35k BTC will be just as useful money as 5k BTC (except maybe that 35k BTC might be more liquid and less volatile).  
On the other hand, a house is something that you need.  Although there is a certain degree of elasticity, you'll need a certain amount of square footage for you or your family to live in comfortably.  If you can buy that house for 100k, you might be fine.  If you need to buy that house for 1M because of the market, you might be shit out of luck, and your wellbeing will suffer for it.

>_> still useful @ $100 lol

[Last of the V8s]

Respected chartist who recently lost his trading stash Bonavest compares the present with a fractal from 2014/5.
iiuc The different time frames are because of increased activity nowadays.

Maybe the end is near or nearish.

[Ivor Biggun]

Respected chartist who recently lost his trading stash Bonavest...

How did he lose his trading stash? Was it through bad trades?

[Last of the V8s]

Respected chartist who recently lost his trading stash Bonavest...

How did he lose his trading stash? Was it through bad trades?

Well yes

[Erumo]

Tomorrows European Blockchain Summit will impact on bitcoin price. Actually it is already increase bitcoin price for few % since yesterday drop.

[HairyMaclairy]

Tera (or anyone else) - do you understand how Cointracking is accounting for the BFX hack?   I think it is screwing up my balances.

From the context, I gather you are trying to figure out basis and taxes...

When you refer to BFX hack, you mean the supposed BFX hack from August 2016?  And then there was a issuance of BFX tokens that counted for across the board crediting of 36%, and those balance of those BFX tokens that were still in your account (and not traded) were fully redeemed by April 1, 2017.

Yes.  I immediately sold my tokens for something like 25 cents on the dollar and got the hell out.  But I don’t think the transaction history shows how the debit of BTC and USD occurred or the issuance of BFX, only my sale of BFX tokens. All shady stuff.   Fortunately I only had a small amount exposed on the exchange at the time.

I might delete all my BFX data and come back to it later.  Digging into it deeper, it looks like there are other problems. I am showing negative USD balances at various times (and no, I don’t use lending or borrowing).  

Yes I am using the API.  BFX only lets you download 3 months at a time and the UI is awful.  

[El duderino_]

  lol
Looks like she knows he way around a mic!

Mic (goosens) can confirm

I can confirm that the lucky one that working mic’s mic in here is worth everything 

[jbreher]

Shoulda left when I had the chance.

Peru looks like a good option - splendid hills there

It's actually quite interesting to see how they have sectioned off portions of the mountainside for different crops. A patchwork of fabric if you will.

Verily. But with this new info, unfortunately...

your image.

https://i.imgur.com/4ydzdwf.jpg

...  the image is somewhat less compelling.

[HairyMaclairy]

I’m more concerned about the safety issues with the broken railing.

[Last of the V8s]

I’m more concerned about the safety issues with the broken railing.

yuh he edits out nature's glories and leaves a health-and-safety hazard in a falling wedge shape just to rub it in.

[starmman]

Tomorrows European Blockchain Summit will impact on bitcoin price. Actually it is already increase bitcoin price for few % since yesterday drop.

I thought the big one was on the 26th April in Frankfurt

[erre]

Finally I know:that is what is called a self fulfilling prophecy, am I right? You are telling me that we are fighting in the dark meanwhile our hero is gaining back his strenght. Fine by me

Seems like we are risking the dungeon, I'm a little bit afraid of what it might be inside...

[jbreher]

Is a rise to 35,000 a positive in terms of an overall market.  

Yes.

That rapid a price change seems to represent higher volatility.    

represent!? Such would by definition be higher volatility. You gotta problem with that?

Some other thread was asking if everyone would drop BTC if it stayed at 7000 and I mentioned the obvious fact that a stable price helps contract settlement  (pricing confidence).

While true, I can't think of any situation where Bitcoin has ever been employed as the numeraire. Store of value, Medium of exchange, Unit of account. Two out of three ain't bad. Hell, it would be forward progress, should Bitcoin remain usable in commerce (i.e., should MOE not be again eliminated by high fees and uncertain settlement).

If bitcoin goes to 35,000 why is it any better then your local house tripling in price and becoming an unavailable purchase for the younger generation in that neighbourhood.  

Completely different situation. Neither SOV, MOE, nor UOA are affected by the absolute price. If one Bitcoin is too expensive, use a mill or a mike or a satoshi.

Nobody, OTOH, has a use for a tenth of a house.

[Toxic2040]

hahahahaha.....

You seemed to have been on the verge of either a Mike Hearn ragequit or a Rosewater scurry to the cupboards.     

 Of course, an extreme and exceptional scenario would be to digress so far as to get roached..., surely we gotta nip such situations in the bud... because, really, we don't need no more roaches in these parts, if avoidable..... 

Exhaustion is my only excuse. Not to lay it all out here...but my father passed this last December. I have failed at dealing with that issue for far too long. It really boils down to this, now I am the eldest. I have always had someone to turn to and seek knowledge and wisdom from. Now that has changed, as all things do...I am the one that my family is turning too for that comfort now. While I do not call this a burden, it has taken awhile to adjust to the new load and reality.

I’m more concerned about the safety issues with the broken railing.

yuh he edits out nature's glories and leaves a health-and-safety hazard in a falling wedge shape just to rub it in.

+1 WOsMerits for both of ya.  Funny.

---------------
Bitcoin

Zooming out some.
Some regression lines that seem to fit the current trend. As with any predictions..its all about assigning probabilities along the most likely route. The lowest line I have shown here is the least likely imho..there appears to be a very defined support zone in the $6.5k range. If this support range is punctured I think it would be very short term bounce. The middle and upper lines are a more likely scenario with oscillation's between those ranges.
Still sitting above all of this is that green overall upward trend line that I think we would all like bitcoin to reacquire.

#dyor #btfd

[HairyMaclairy]

Seems like we are risking the dungeon, I'm a little bit afraid of what it might be inside...

[Last of the V8s]

https://medium.com/@adamtache/the-many-faces-of-bitcoin-1c298570d191

[TERA2]

Shoulda left when I had the chance.

Peru looks like a good option - splendid hills there

I went to Peru when I was ignoring Bitcoin in 2014. Drank this shamanic tea there and nearly died.

[HairyMaclairy]

Should have stuck to marmalade. 

[JayJuanGee]

Respected chartist who recently lost his trading stash Bonavest...

How did he lose his trading stash? Was it through bad trades?

Well yes

hahahahahaha...


I like the humor in this.

We should (or perhaps should not) be paying attention the vices of BTC traders who lost their whole stash....

       

[JayJuanGee]

hahahahaha.....

You seemed to have been on the verge of either a Mike Hearn ragequit or a Rosewater scurry to the cupboards.     

 Of course, an extreme and exceptional scenario would be to digress so far as to get roached..., surely we gotta nip such situations in the bud... because, really, we don't need no more roaches in these parts, if avoidable..... 

Exhaustion is my only excuse. Not to lay it all out here...but my father passed this last December. I have failed at dealing with that issue for far too long. It really boils down to this, now I am the eldest. I have always had someone to turn to and seek knowledge and wisdom from. Now that has changed, as all things do...I am the one that my family is turning too for that comfort now. While I do not call this a burden, it has taken awhile to adjust to the new load and reality.

When we are on the interwebs, it is possible that posters are going to attempt to find your greatest possible vulnerabilities, and then see if they can break you....  so in that regard, we need to be like ducks and water.