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Question: Is this the last time Bitcoin will be below $9,000?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21718283 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. (147 posts by 36 users deleted.)
JayJuanGee
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September 28, 2018, 12:28:54 AM


Be careful, I've seen plenty of rockets crash midway through. As long as we don't break the weekly trend I won't be confident.

I am going to presume that you are referring to bitcoin rockets, correct?

Personally, it seems to me that in bitcoin we experience a lot of false take offs, but in the whole scheme of things, we are not really experiencing mid-way crashes.  I suppose how it is described remains a matter of perspective, and if you look at the longer projection, we don't really have crash and burns in bitcoin, but we do have extended periods of price correction that causes a lot of questioning about when or if there is going to be another rocket.

In other words, rockets are rare, but they are BIG, even though we have a whole hell of a lot of ongoing correction that causes folks to wonder how much they have profited from the rockets (which they are likely ONLY to be able to profit if they are largely HODLing through the UPS and the DOWNS).

Right now, we remain in the  60% to 70% price correction range, yet even if we get another 50% or so correction from here (down to the $3k range), which is seeming more and more unlikely (absent some really devastating bad BTC news) with the passage of consolidation time),  which would bring BTC prices into about an 85% correction range, but even if that 85% correction were to happen (let's say $3k-ish), BTC prices would still remain about 12x higher than they were during the vast majority of the low for the 2014-2015 price consolidation period.  Hard to characterize that as a crash, exactly, even though it is easy to identify a whole hell-of-a-lot of false starts within various times in bitcoin.

By the way, we could go back even further in BTC history, before 2013, and find additional upsurges and meaningful BTC price corrections that just continued to advance BTC upwards, especially if you largely attempted to accumulate BTC and were able to hold more than 3 years through the sometimes seemingly extended price valleys.
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September 28, 2018, 01:05:13 AM

I’d be surprised if this rally hits $7,000. Still no conviction.

Hard to tell, seems we need to wait for daily bars to close.     The chart does look optimistic and there was a surge past the 50 day average I noticed.   Then of course it slows again and appears like its on the blocks ready to sprint for 7200 area at least.
However we wait, theres a counter argument and line of lower highs to contest.  Its a fairly well defined trend line, it will have some force in effect if only because many people will draw a similar conclusion.    Its all a bit muddy but I'll throw 6847 out there as possibly part of that trend and I'd like to see that beaten by todays session of trading in Asia or further ahead if need be.  Either way 7200-7400 would be target because thats 200 day average and the most followed measure, especially on mainstream markets thats always followed
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September 28, 2018, 03:12:31 AM
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I take it from the shift in sentiment and rockets and such like that we haven't dropped into a sinkhole of bottomless dumping. Good. I don't want to be poor anymore.

Carry on.

Edited multiple times due to typos due to screwdrivers.

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September 28, 2018, 03:50:02 AM

Austria to Use Ethereum Public Blockchain to Issue $1.35 Bln in Government Bonds

https://cointelegraph.com/news/austria-to-use-ethereum-public-blockchain-to-issue-135-bln-in-government-bonds
Holyshit well that does at least tell us Ethereum isn't going to just die on the vine. Crypto is definitely here to stay.

it seems quite strange to me why some BIGGER financial institutions are building upon Ethereum rather than BTC, when BTC is way more secure than ethereum - both in terms of its hashing power and design and the fact that bitcoin does not have a shit load of scam projects that are using it.  I am thinking about Gemini, as well, creating their Gemini USD on ERC20?  Go figure?  Aren't they adding additional risk to their projects or do they believe if something goes wrong, then they can appeal to the Ethereum foundation to fork to fix in their direction, which surely is not something that they could count on in BTC but BTC?

I would not be suprised to see another DAO 2.0. 

They will learn it the hard way.

Crypto is hackers paradise.
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September 28, 2018, 04:26:05 AM

Austria to Use Ethereum Public Blockchain to Issue $1.35 Bln in Government Bonds

https://cointelegraph.com/news/austria-to-use-ethereum-public-blockchain-to-issue-135-bln-in-government-bonds
Holyshit well that does at least tell us Ethereum isn't going to just die on the vine. Crypto is definitely here to stay.

it seems quite strange to me why some BIGGER financial institutions are building upon Ethereum rather than BTC, when BTC is way more secure than ethereum - both in terms of its hashing power and design and the fact that bitcoin does not have a shit load of scam projects that are using it.  I am thinking about Gemini, as well, creating their Gemini USD on ERC20?  Go figure?  Aren't they adding additional risk to their projects or do they believe if something goes wrong, then they can appeal to the Ethereum foundation to fork to fix in their direction, which surely is not something that they could count on in BTC but BTC?

I would not be suprised to see another DAO 2.0. 

They will learn it the hard way.

Crypto is hackers paradise.


That is kind of what I am thinking.  I was thinking that the Winklevoss brothers were kind of bitcoin maximalists, and perhaps a bit smarter about what differentiates bitcoin from shit coins including what is a very large ethereum attack surface in terms of the software and in terms of the variety of scammers building their shitcoins on top of it.  Scammers/hackers might be some of the smartest people in the world, at least in terms of their innovative attempts to steal money (aside from wallstreet and high level banker types).

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September 28, 2018, 04:46:09 AM

this is looking pretty barty
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September 28, 2018, 05:36:52 AM
Last edit: September 28, 2018, 06:12:24 AM by vroom

this is looking pretty barty

so sad but true. I hope we are wrong.

edit: w00t. I think we are wrong. or there is a second bart forming right now.
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September 28, 2018, 06:12:14 AM

Public challenge:

Can you say "rekt shorts" without a smile on your face?
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September 28, 2018, 07:08:26 AM

Guys, this is it, we're airborne!  Grin
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September 28, 2018, 07:54:53 AM



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September 28, 2018, 08:10:03 AM

10/28/2018

New ATH.
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September 28, 2018, 08:27:11 AM
Merited by Rosewater Foundation (1)

Yeah, right.  Roll Eyes
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September 28, 2018, 08:38:17 AM
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edit: strikethroughs and underlines - hunting season, what can I say?

Deer?

Deer archery with granddaughter two weeks ago. Deer muzzleloader last week. Elk (Private Land Only) from last week to about end of January.

The tell was that my mind was on Minutes Of Angle -- MoA -- which I absentmindedly subbed for MoE -- Medium Of Exchange.

Not much use for MoA in archery. But here in the west, shots of several hundred yards are rather commonplace. MoA is the proper way to think about ballistics at range.

(Not to be confused with that Marcus guy either)
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September 28, 2018, 09:16:29 AM

I see weak knees already. But let’s give $7,000 a fair chance.
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September 28, 2018, 09:23:18 AM

Hm. Are we holding at almost 400 transactions a second?

Remember when 3 tps would crash the network?
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September 28, 2018, 09:24:48 AM

Hm. Are we holding at almost 400 transactions a second?

Remember when 3 tps would crash the network?


400tx/s?? What are you talking about?

It it a typo?
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September 28, 2018, 09:40:56 AM

Curious thread about Bitmain IPO  https://twitter.com/katherineykwu/status/1045059356994269184





I'm thinking this whole Bitmain IPO document is a complete fabrication.

Why? Because if they really did make that much net revenue in half a year's time, then they'd never have a need to take the company public.

Period.
Unless that figure is 90% bcash.

Bloomberg (https://www.bloomberg.com/view/articles/2018-09-27/bitmain-s-prospectus-reveals-a-lot-about-bitcoin-s-wild-ride?srnd=premium-europe) says
Quote
Bitmain holds twice as much cryptocurrency as it does fiat
And I suspect that it's even more than 66/33. Why? Because 90% of 2018 income was hardware sales, most of which likely payed in bcash. The exact published figures can be adjusted by slightly cooking the books.
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September 28, 2018, 09:44:09 AM

Hm. Are we holding at almost 400 transactions a second?

Remember when 3 tps would crash the network?


400tx/s?? What are you talking about?

It it a typo?
I really should not check this stuff after waking from weird dreams. 3.79tps, not 379 tps.....

https://www.blockchain.com/btc/unconfirmed-transactions
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September 28, 2018, 09:53:30 AM

Curious thread about Bitmain IPO  https://twitter.com/katherineykwu/status/1045059356994269184





I'm thinking this whole Bitmain IPO document is a complete fabrication.

Why? Because if they really did make that much net revenue in half a year's time, then they'd never have a need to take the company public.

Period.

I agree, unless it was totally unsustainable, then they can share out the fail.
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September 28, 2018, 09:59:37 AM

Hm. Are we holding at almost 400 transactions a second?

Remember when 3 tps would crash the network?


400tx/s?? What are you talking about?

It it a typo?
I really should not check this stuff after waking from weird dreams. 3.79tps, not 379 tps.....

https://www.blockchain.com/btc/unconfirmed-transactions
Those types of dreams are the best (in the sense that it's quite interesting how stupid our brain is).
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