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

[realr0ach]

you can't fucking regulate bitcoin you idiot roachtard. fuck off back to kindergarten with that nonsense statist trolling

LOL, can't regulate bitcoin my ass.  Transaction validators are designed to centralize you lying fuckin shills.  It was NEVER a "permissionless system" in the first place from day one.  It was only a permissionless system if you're a bugman who happens to be an integrated circuit designer while also having millions of dollars to lay down a foundry, and having an IQ that isn't subpar compared to all the other chip designers.  But the bell curve is asymmetric, so the fucking thing fails and goes into complete centralized monopoly even if EVERY person on the planet is a billionaire chipset designer by trade.

You shills know this is 100% truth and there's zero reason for shitcoins to exist compared to physical silver and gold, but you're all scumbags and lie to try and scam people with pump and dumps of imaginary, centralized, valueless tokens.

[hisslyness]

You shills pretend that bitcoin has a captive audience monopoly over every transaction on the planet and doesn't have to face ANY competition.  Your transactions were essentially free at a block reward of 50, but let's say they're 'only' $200 at a block reward of 0 while not being subsidized any longer.  Since bitcoin is completely centralized, where in the flying fuck is the value proposition in paying $200 or more for a transaction on a centralized service that arbitrarily blacklists your non-fungible shitcoins when you can use a different centralized service for 1/100th the price or less?  There's many services that even have free transactions between users.

Bitcoin is a garbage store of value and can never defeat silver and gold as the base of Exter's Pyramid, so the only trait anyone would actually be interested in is either:  

A) using it as a pump and dump scam

B) using it for regulatory arbitrage (which is fast being stamped out by the day with govt regulations)

C) using it as a cheap payment system that would cost them less than using a normal bank or other financial services entity (not exactly going to happen with on-chain transactions and LN is an unworkable train wreck unless you make it completely centralized)

Again, no one here has said BTC has a monopoly on every transaction. In fact your delusions are coming back, I think you are reading what isn't on the screen, but what is in your head!

We want competition, this will make BTC better, force developers to think outside the box and develop tech the like you can not even imagine.

The bus ride was essentially free as well. But there were transaction fees during the 50BTC reward periods.

No one is asking you to use BTC go use your shit coin, but don't assume you know what will happen with BTC, don't assume miners will just dump BTC chain and mine elsewhere.

Do you even mine BTC? Do you think we are making shitloads of BTC?

Again you assuming $200 for an onchain transaction. Then I will assume it is for a $1Billion movement. I am fine with that! Or you can go with PayPal and get charged 2.6%?

[gentlemand]

Bitcoin's looking bullish; as soon as we go on a run, people like realr0ach will go away.

Nope.

This thread has been rendered largely worthless because of It. It is still requoted and engaged endlessly even by real posters. It's been fucking years now and nothing will change It.

I barely check this thread as it'll be 30-50% It.

Er, 'free speech' and all that.

[Last of the V8s]

Bitcoin's looking bullish; as soon as we go on a run, people like realr0ach will go away.

Nope.

This thread has been rendered largely worthless because of It. It is still requoted and engaged endlessly even by real posters. It's been fucking years now and nothing will change It.

I barely check this thread as it'll be 30-50% It.

Yeah sorry for engaging it. Its reply to my post was just bot-generated garbage.

Actually if infofront had any balls he could delete 'its' posts for being spam. (edited out the extraneous apostrophes)

[Torque]

Actually if infofront had any balls he could delete 'it's' posts for being spam.

Shitcoin shills, trolls, Big blockers, Bitcoin haters/bashers, and Jew-hating Nazis have all been encouraged on this entire website from day 1.

Y'know, cause 'muh free speech' and all that.  

Sadly, the /ignore function is all we got.

[gentlemand]

Bittrex adding USD pairs... bullish.

They're adding Tether and 'TrueUSD' and it's only available to corporate customers in a few states. And 'TrueUSD' spiked 16% against the real dollar recently. What institution with its marbles intact would use that? It's literally the first time I've ever heard of it.

https://www.bloomberg.com/news/articles/2018-05-31/bittrex-gets-bank-agreement-to-help-you-buy-bitcoin-with-dollars

[Torque]

Bittrex adding USD pairs... bullish.

They're adding Tether and 'TrueUSD' and it's only available to corporate customers in a few states. And 'TrueUSD' spiked 16% against the real dollar recently. What institution with its marbles intact would use that? It's literally the first time I've ever heard of it.

https://www.bloomberg.com/news/articles/2018-05-31/bittrex-gets-bank-agreement-to-help-you-buy-bitcoin-with-dollars

WTF is the difference between Tether and TrueUSD?

[gentlemand]

WTF is the difference between Tether and TrueUSD?

Tether is more trustworthy. I truly never believed I'd type that.

http://www.hotstocked.com/article/94283/what-is-trueusd-tusd-token-and-is-it-going.html

[infofront]

Bitcoin's looking bullish; as soon as we go on a run, people like realr0ach will go away.

Nope.

This thread has been rendered largely worthless because of It. It is still requoted and engaged endlessly even by real posters. It's been fucking years now and nothing will change It.

I barely check this thread as it'll be 30-50% It.

Yeah sorry for engaging it. It's reply to my post was just bot-generated garbage.

Actually if infofront had any balls he could delete 'it's' posts for being spam.

If you had any balls, you could click ignore.

Edit: Also, people generally have no idea what or how many posts have been deleted. Contrary to popular belief, I delete posts daily, unless it's pretty slow here. And just so everyone is aware, I can't ban anyone from the thread.

[4rt3m]

WTF is the difference between Tether and TrueUSD?

Tether (USDT) – affiliated with Bitfinex, Omni Layer  platform (Mastercoin), Bitcoin blockchain. Still unclear how many USD actually assured for this asset.

TrueUSD (TUSD) – independent project, ERC20 tokens, assured by actual USD holders, which change their USD for TUSD via smart-contract with KYC procedure. Based in US, more clear and trust-worth stable coin, IMO.

[realr0ach]

Send a better Trilemma representative next time.  You tried using words like "statist" as an insult, meaning you pretend you're some type of cool guy anarchist, yet I already explained to you nooblords that if you live in a closed ecosystem (aka the earth), libertarianism is a laughable impossibility because the vast majority of your actions have direct effect on others.  Anarchy, same difference.  Anarchy is an imaginary and non-existent concept - a power vacuum to be instantly taken over by a strongman.

So you are shit out of luck and groups of marauders are going to organize against you to take what you have, whether they be Congo negroids who want to rape and murder anything that moves, Jihaders who want everyone on the planet to be named Mohammed, or Jews who wish to monetarily enslave everyone on the planet with usury and murder you with their Kalergi plan.  Your only real hope is forming some type of union to defend yourself against those enemies.  Enter white & asian ethno-nationalism, the only two forces capable of destroying all these threats.

[cAPSLOCK]

BLOOMBERG: Bitcoin Heads Toward $7,000 as Pain Returns on Gloomy Technicals
Since failing to regain the psychologically important $10,000 level on May 4, it has closed lower in New York in 12 out of 17 sessions.

Wait what? Bitcoin closed? New York? Sessions? Are they talking about futures, or does this editor just not know what he is talking about?

[hisslyness]

Send a better Trilemma representative next time.  You tried using words like "statist" as an insult, meaning you pretend you're some type of cool guy anarchist, yet I already explained to you nooblords that if you live in a closed ecosystem (aka the earth), libertarianism is a laughable impossibility because the vast majority of your actions have direct effect on others.  Anarchy, same difference.  Anarchy is an imaginary and non-existent concept - a power vacuum to be instantly taken over by a strongman.

So you are shit out of luck and groups of marauders are going to organize against you to take what you have, whether they be Congo negroids who want to rape and murder anything that moves, Jihaders who want everyone on the planet to be named Mohammed, or Jews who wish to monetarily enslave everyone on the planet with usury and murder you with their Kalergi plan.  Your only real hope is forming some type of union to defend yourself against those enemies.  Enter white & asian ethno-nationalism, the only two forces capable of destroying all these threats.

See you should spend more time talking about that... BTC is not for you man! but the above I really like!... You are the smartest retard I have every met!

Go the "white & asian ethno-nationalism"!!!!!

[Samarkand]

...
Normally PoS wouldn't be able to win if PoW actually worked as advertised, but it doesn't.  It's just centralized vs centralized.  Also, you nooblords in this thread don't seem to understand adversarial mining works better the lower the block reward goes, which probably also blows up PoW in the end.  
...

Theoretically I would agree with the bolded part of the quote, but in practice
Bitcoin will be fine.

Let´s imagine the (likely) scenario in August 2024:
1. The Bitcoin block reward is only 3.125 BTC / block at this time (oh, no, adversarial mining is a real danger now!!)
2. BTC is trading for 120000 $ / BTC.
3. This means that the block reward is actually higher in terms of fiat money than it is now (375k $ / block vs. ~94k $ / block now)

Even though the block reward may be lower measured in BTC it will be much higher in $. And miners obviously
have to pay their electricity, their staff and their hardware in fiat money (unless Bitmain is still
accepting only BCH for their miners    ).

The doomsday scenario where the block reward halvings make adversarial mining more attractive are therefore
not really realistic. Besides, my estimate didn´t even take into account the revenue for miners that is generated by
transaction fees, which will likely be higher than it is now.

[4rt3m]

What if realr0ach is the Satoshi, just changed his mind of cryptocurrency?

[Ludwig Von]

https://bravenewcoin.com/news/bitcoin-price-analysis-geopolitical-turmoil-and-economic-unrest/

Moar FUD.

Technical Analysis

Bitcoin price structure has remained in consolidation purgatory since cooling off from a meteoric rise near the end of 2017. Periods of ranging, indecisive price action are critical for the market to regain momentum for a move in either direction. A key hallmark for this is a descending volume profile, which has been the case since the low set in February.

Although consolidation within a trend should always be assumed as trend continuation, casting a wide net with analysis, while avoiding analysis paralysis, and mapping out several scenarios is the key to eliminating surprises. Predicting the exact future price is less important than reacting to the price action with a potential trajectory and predetermined target.

This process can be done with Chart Patterns, Ichimoku Cloud, Moving Averages, Pitchforks, and historic macro trends. Further background information on the technical analysis discussed below can be found here.

A symmetrical triangle has formed as price has consolidated, making lower highs and higher lows. In Technical Analysis of Stock Trends (1948), Edwards and Magee suggest that roughly 75% of these triangles lead to a continuation of the trend, while the rest mark reversals. In any case, this pattern will be a ‘trade the breakout’ situation as it will likely lead to weeks of trend follow through. Breakouts post consolidation typically occur after at least 66% of the triangle has completed (yellow highlight).

...

Inverted patterns are typically seen at the top or markets, not after a downward move. While this makes the probability of the pattern becoming a reality less likely, it does not mean that it cannot happen. An inverted Head and Shoulders appeared on the weekly Oil chart after a significant downward move as well, which reached it’s 1.618 fib extension almost exactly on target.

If this inverted Adam and Eve is real, it yields a price projection of ~US$2,900 and US$4,600 based on the measured move and 1.618 fib extension. The measured move target nearly matches the low set in September, as well as the previous resistance throughout June and August.

Bitcoin Price Analysis 31 May 2018 14Bollinger Bands, a measure of price volatility, have also coiled tighter and tighter, as illustrated by the Bollinger Band Width (BBW) indicator. An oscillator similar to RSI, %B, which shows the depth of price relative to the Bands, shows a growing bullish divergence as price dips lower without further expansion of the Bands themselves.

Bitcoin Price Analysis 31 May 2018 15The Ichimoku Cloud uses four metrics; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, and the Lagging Span. The best entry always occurs when most of the signals flip from bearish to bullish, or vice versa.

The Cloud metrics on the weekly time frame are; price above Cloud, nearly bearish Cloud, newly bearish TK cross, and Lagging Span in price and above Cloud. Together, these signals suggest the trend is neutral but leaning weakly bullish because price remains above Cloud. This is the first TK cross since 2015, while the previous bearish TK cross in a similar position led to a multi-month downtrend. TK crosses on high timeframes are significant and should be seen a long exit signal for trade entries which began in 2015.

Price itself is below the Kijun and, seemingly, in no-man’s land. A long entry would not be warranted until price is above the Kijun with a bullish TK cross, essentially also above the neckline of the head and shoulders chart pattern.

...

Conclusion

For better or worse, economic and trade policies worldwide have begun to dramatically shift with multiple political uncertainties. Bitcoin, and cryptocurrencies broadly, have more recently represented a global futures market to price-in credit risk or lack of confidence in leadership. CNBC recently discussed Bitcoin as a fear gauge for the market, similar to the volatility index.

Technicals are the most bearish they have been in months. Based on the current price structure, breaking up would be much more surprising than breaking down. Admittedly, trend-based indicators like the Cloud become more noisy with non-trending price action, and therefore less reliable for actionable signals. However, even when zooming out on the price action, many of the technicals remain bearish. Currently, the trend indicator to watch is the 50/200EMA on the two day timeframe.

Although too early to determine, one ray of hope would be the possibility of this entire consolidation period representing re-accumulation. Essentially, the entire bull trend from 2015 has been reset, which gives plenty of fuel for a new all time high just as easily as returning to new lows. The direction may be unclear, but the volume-based momentum will be obvious.

A lot of literature to say : "We have no idea, no clue". 

[Elwar]

They changed bitcointalk policy due to NotLambChop's epic trolling.

I wonder how long it will take to do the same for this troll.

My suggestion:
Allow for auto-ignore of all posts quoting ignored posts.

[Toxic2040]

Good morning all

I see we are having a mild recovery from a mostly negative month of May. As we close out I think we will test $8k+ over this coming weekend.

1h

On the hourly we are seeing sideways bands of re-accumulation after what has been a month of mostly low volume sell offs. I think we will retest support at $7.4k before moving upwards after the daily close. The 5th leg of this EW is extending farther than I thought but might be completing, indicating a possible corrective ABC wave might be developing.

4h

Testing upwards resistance as the Dragon has finally turned and is heading back upwards towards the mountain top. It appears that another liquidity pool is starting to fill up and might complete around the first week of June.

D

We are well below support levels on the daily. We have one major area of resistance at a 0.236 fib that I believe will be tested soon. Support was tested at $7.1-7.3k fairly thoroughly earlier in the week and held, indicating a local bottom.

--------
I had a great Memorial Day weekend. Hope you all did as well.

Honor to those that serve.
 

[Icygreen]

^ Hey Elwar, I like that suggestion.
Personally, I've tried many times to see bugs point of view and hope if he's sincere that he'll eventually make a strong case but until now he's mostly lost on me. Really, I've tried but can't follow. You know, when you read something really good and re-read because its so spot on... that doesn't happen with bug posts (although I have sensed intelligence a few times) He mentions Andreas quite a bit. Now that's someone I have no problem following train of thought with and re-reading (watching). I'd love to see a head to head with those 2 but I know it'll never happen. 
 
 

[JimboToronto]

Good morning Bitcoinland.

I see we're back over $7.5kUSD... currently $7555USD/$9801CAD (Bitcoinaverage).

Tried to buy a couple of thousand fiat bucks at my local low-sell-fee ATM but the General Bytes machine had run out of thermal paper to print my redeem ticket so I had to wait until today. Nice to see the price up a wee.

The price rise may be small but every little bit helps when you're an old-age pensioner trying to eke out a living selling small amounts of Bitcoin.